Results 10,921-10,940 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Coverage (15 Sep 2020)

Paschal Donohoe: I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses. Accordingly, this is one of the reasons the Government has been prioritising investment in flood defences over in recent years. However, you should be aware that the provision of insurance is a commercial matter for insurance companies, which is based on a...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (15 Sep 2020)

Paschal Donohoe: The Stay and Spend scheme provides tax relief by means of a tax credit at the rate of 20% on qualifying expenditure of up to €625 per person, or €1,250 for a jointly assessed couple, in respect of 2020 and 2021. The tax credit is worth a maximum of €125, or €250 for a jointly assessed couple. The scheme is a tax-based measure administered by Revenue and is one...

Written Answers — Department of Finance: Value Added Tax (15 Sep 2020)

Paschal Donohoe: As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Tax Code (15 Sep 2020)

Paschal Donohoe: As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Tax Reliefs (15 Sep 2020)

Paschal Donohoe: There are a number of conditions which a company must meet in order to be regarded as a qualifying company for the purposes of section 110 of the Taxes Consolidation Act 1997 (“TCA 1997”). One such conditions is that the company must notify Revenue of its intention to be a qualifying company by completing a Form S.110 no later than 8 weeks from the date the company commences its...

Written Answers — Department of Finance: Mortgage Lending (15 Sep 2020)

Paschal Donohoe: As the Deputy is aware, on 18 March the Banking and Payments Federation of Ireland (BPFI) announced a co-ordinated approach by banks and other lenders to help their businesses and personal customers who were economically impacted by the Covid-19 crisis. These measures included flexible loan repayment arrangements, and included a loan payment break of up to three months which was subsequently...

Written Answers — Department of Finance: Value Added Tax (15 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 262 and 263 together. I am advised by Revenue that traders are not required to separately identify the VAT yield generated from the supply of specific services on their VAT returns and as such it is not possible to separately report the VAT collected from the sale of electricity or the sale of gas. However, using information from a combination of Personal...

Written Answers — Department of Finance: Carbon Tax Yield (15 Sep 2020)

Paschal Donohoe: I am advised by Revenue that a breakdown of the Carbon Tax receipts by residential gas customers is not available as this information is not specified in tax returns. The total amount collected in Carbon Tax on natural gas for the years 2015 to 2019 is available on the Revenue website at the following link:

Written Answers — Department of Finance: Banking Sector (15 Sep 2020)

Paschal Donohoe: As the Deputy is aware, as Minister for Finance I have no role in the day to day commercial activities of any of the banks. Decisions in relation to liquidity management and funding are matters for the Board and management teams in each of the banks. The Deputy will be further aware that the liquidity and funding position of both AIB and Bank of Ireland is very strong as reported in their...

Written Answers — Department of Finance: Help-To-Buy Scheme (15 Sep 2020)

Paschal Donohoe: I recently announced a temporary enhancement to the existing HTB scheme for the remainder of 2020 as part of the July Stimulus package. The legislation to give effect to this increase has been outlined in the Financial Provisions (Covid-19) (No.2) Act 2020 and was signed into law on 1 August 2020. In summary, the legislation provides that where applicants (I) enter into a contract for the...

Written Answers — Department of Finance: Tax Data (15 Sep 2020)

Paschal Donohoe: I am advised by Revenue that based on 2020 tax forecasts, the estimated cost of removing Stamp Duty on credit cards would be in the region of €38 million. This does not include the cost of removing Stamp Duty on other payment cards, which would increase this cost by a further €17 million. The €30 stamp duty on credit cards is generally collected by the card issuing...

Written Answers — Department of Finance: Tax Data (15 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 269 and 270 together. The latest costs available for the Employment & Investment Incentive (EII), the Special Assignee Relief Programme (SARP), Foreign Earnings Deduction (FED) and Rent-A-Room Relief can be found in the Cost of Tax Expenditures report which is published on the Revenue website at link: . A summary table can also be found below. These...

Written Answers — Department of Finance: Tax Data (15 Sep 2020)

Paschal Donohoe: I am advised by Revenue that, based on the methodology it used, the estimated cost of fossil fuel subsidies for the years 2016 to 2019 is shown in the table below. The savings to the Exchequer in 2021 from eliminating these subsidies is estimated to be in the region of €1.5 billion, but this does not factor in any subsequent change in consumption due to the increased Excise rates that...

Written Answers — Department of Finance: Tax Data (15 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 272 and 275 together. I am advised by Revenue that while some employee-level taxable benefits are recorded separately in employer tax returns, the information required to estimate the Deputy’s proposals are not available. For the Deputy's information, a revised method for calculating vehicle BIK, based on the CO2 emissions of the vehicle, was enacted...

Written Answers — Department of Finance: Tax Data (15 Sep 2020)

Paschal Donohoe: I am advised by Revenue that the estimated savings to the Exchequer from ending the current Vehicle Registration Tax (VRT) relief on conventional hybrid electric and plug-in hybrid electric vehicles in 2021 is estimated to be in the region of €13 million. This estimate is based on activity to date in 2020 and as such is subject to a higher degree of uncertainty than most years, with...

Written Answers — Department of Finance: Tax Data (15 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 274 and 276 together. The emissions basis for calculating VRT will transition to WLTP in 2021 and this will require changes to VRT legislation. As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Tax Yield (15 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 277 to 279, inclusive, together. The Domicile Levy is applicable to Irish domiciled individuals whose worldwide income exceeds €1m, whose Irish property is greater in value than €5m and whose income tax liability in a year is less than €200,000. I am advised by Revenue that there is no basis from the data available in tax returns to...

Written Answers — Department of Finance: Aer Lingus (15 Sep 2020)

Paschal Donohoe: The specific issue that the Deputy refers to is not under consideration by Government. Matters related to aviation policy, including the issue raised by the Deputy, are a matter for consideration by the Minister for Transport in the first instance.

Written Answers — Department of Finance: Financial Services Sector (15 Sep 2020)

Paschal Donohoe: As the deputy may be aware the Central Bank disclose the total cost of Financial Regulation (Net Annual Funding Requirement or nAFR) in the Central Bank Annual Report each year. The most recent report covers the 2019 cost of Financial Regulation and revealed a total cost of €204.5m (see link below). The cost of €204.5m is part funded by income from industry of €165.8m...

Written Answers — Department of Finance: Tax Reliefs (15 Sep 2020)

Paschal Donohoe: E-Workers may incur certain expenditure in the performance of their duties from home, such as additional heating and electricity costs. An employer may make payments of up to €3.20 per day to e-working employees in respect of such expenses and this amount is not subject to deduction of PAYE, PRSI or USC. Where employers avail of this facility, they are not required to advise Revenue...