Results 11,141-11,160 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (28 Jul 2020)

Paschal Donohoe: Section 126AA of the Stamp Duties Consolidation Act 1999 imposes an annual levy on certain financial institutions on the basis of the amount of deposit interest retention tax (DIRT) payable by them in a specified ‘base’ year. The levy is intended to raise a fixed annual amount of €150M. The amount of the levy paid by a particular financial institution must therefore...

Written Answers — Department of Finance: Financial Services Regulation (28 Jul 2020)

Paschal Donohoe: The Central Bank's total funding requirement for financial regulation activity is determined on an annual basis by the resources required to discharge its legal responsibilities under domestic and EU law.  Section 32D and 32E of the Central Bank Act 1942, as amended, provide that the Central Bank Commission may make regulations relating to the imposition of levies and fees on the...

Written Answers — Department of Finance: Tax Code (28 Jul 2020)

Paschal Donohoe: I am advised by Revenue that a Ready Reckoner is available on the Revenue Statistics webpage at the following link: . This Ready Reckoner shows a wide range of detailed information, including on page 23, estimates of yield from changes in duties on cigarettes. These estimates also assume pro-rata increases in other tobacco products.

Written Answers — Department of Finance: Value Added Tax (28 Jul 2020)

Paschal Donohoe: As the Deputy will be aware, on 23 July the Government announced the July Jobs Stimulus, a €7.4bn package of measures designed to stimulate a jobs-led recovery and build economic confidence while continuing to manage the impact of Covid-19. These measures included a temporary reduction in the standard rate of VAT from 23% to 21%.

Written Answers — Department of Finance: Insurance Industry (28 Jul 2020)

Paschal Donohoe: I am aware that there have been many concerns expressed about how the insurance industry is responding to the needs of its business policyholders in these difficult times, including in terms of honouring business interruption claims. At the outset, I should remind the Deputy that neither I, nor the Central Bank of Ireland can direct or require that insurers cover claims, including those...

Written Answers — Department of Finance: Tax Clearance Certificates (28 Jul 2020)

Paschal Donohoe: I am advised by Revenue that the issues to which the Deputy is referring are resolved. Following direct discussions between the companies’ tax agent and Revenue, tax clearance certification was issued through the e-tax clearance system. The relevant access numbers have also been provided to the companies, which can be used by any third party to verify their tax clearance status.

Decision of the General Court of the European Union in the Apple Case: Statements (24 Jul 2020)

Paschal Donohoe: I congratulate the Leas-Cheann Comhairle on her election. I welcome the opportunity to comment on the recent judgment of the General Court of the European Union. It was always important that the State challenged this decision and did not accept the Commission's reasoning, as some in this House and elsewhere wanted. The decision of the previous Government to appeal the Commission decision...

Written Answers — Department of Finance: Mortgage Schemes (23 Jul 2020)

Paschal Donohoe: I fully appreciate the concerns you raise at this difficult time about people who are experiencing uncertainty about mortgage applications and drawdowns. My Department is maintaining close contact with the Central Bank of Ireland and Banking and Payments Federation Ireland – the BPFI - as the lending industry works to address the difficulties the Covid-19 situation is causing for both...

Written Answers — Department of Finance: Revenue Commissioners (23 Jul 2020)

Paschal Donohoe: I am advised by Revenue that the Revenue On-Line System (ROS) is specifically designed for the collection and administration of various taxes and duties The system is used in the main by business taxpayers, including the self-employed, and in many cases is operated by tax agents on behalf of clients rather than by the actual businesses. Personal taxpayers use an altogether different online...

Written Answers — Department of Finance: Insurance Industry (23 Jul 2020)

Paschal Donohoe: It should be noted at the outset that in my role as Minister for Finance, I have no influence over whether an insurer should provide a partial refund of motor premiums to its customers, as this is very much a commercial decision for each company to make. However, I strongly believe that all sectors must play their role in assisting customers in these difficult times. In view of this, my...

Written Answers — Department of Finance: Bus Operators (23 Jul 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) is provided for in section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020 and has been extended until the end of August. The underlying legislation and the TWSS itself were developed having regard to the Government objective of providing assistance to employers and employees, where businesses have been seriously affected by...

Written Answers — Department of Finance: Bus Operators (23 Jul 2020)

Paschal Donohoe: Payment breaks have been provided on a voluntary basis by members of the Banking and Payments Federation of Ireland (BPFI). This allowed lenders to quickly to provide substantial and rapid relief to impacted borrowers during a fast moving and evolving public health crisis. While Government has welcomed this important support provided by members of the BPFI for their business and consumer...

Written Answers — Department of Finance: Banking Sector (23 Jul 2020)

Paschal Donohoe: As the Deputy has indicated, this was an administrative error which resulted in an erroneous entry in the Irish Credit Bureau (ICB). Customers learned of this when the bank wrote informing them that the issue had been resolved. I would encourage any customer with concerns to contact the bank directly on the dedicated customer helpline that EBS has set up to assist and advise customers....

Written Answers — Department of Finance: Fossil Fuels (23 Jul 2020)

Paschal Donohoe: The Fossil Fuel Divestment Act 2018 provides for the divestment by the Ireland Strategic Investment Fund (ISIF) from fossil fuel undertakings (effectively, companies that derive more than 20% of their revenues from the exploration, extraction and/or refinement of fossil fuels) within a practicable timeframe. The ISIF has developed a list of 211 fossil fuel companies in which it will not...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (22 Jul 2020)

Paschal Donohoe: I propose to take Questions Nos. 94, 100 and 101 together. The Temporary Wage Subsidy Scheme (TWSS) was introduced in March and was specifically designed to support firm viability and preserve the relationship between the employer and employee insofar as is possible through the lockdown period, in circumstances where the employer’s business had been negatively impacted by COVID-19....

Written Answers — Department of Finance: Civil Service (22 Jul 2020)

Paschal Donohoe: I am advised by Revenue that the person concerned is employed as a Clerical Officer with Revenue in Dundalk, in full-time capacity, Monday to Friday. The retained firefighter role requires availability on call, six days out of eight and is not therefore compatible with a fulltime post in Revenue.

Written Answers — Department of Finance: Insurance Coverage (22 Jul 2020)

Paschal Donohoe: I am aware that there have been many concerns expressed about how the insurance industry is responding to the needs of its business policyholders including publicans in these difficult times. I have considerable sympathy for such policyholders. However, it is important to emphasise that neither I, nor the Central Bank can direct or require that insurers cover claims, including those...

Written Answers — Department of Finance: Tax Collection (22 Jul 2020)

Paschal Donohoe: The standard rate of Capital Acquisitions Tax is 33%. There are three tax-free thresholds depending on the relationship between the disponer and the beneficiary, with CAT applying on the amount inherited or gifted over the thresholds, as follows: Group Athreshold (€335,000) - Applies where the beneficiary is a child (including certain foster children) or minor child of a deceased child...

Written Answers — Department of Finance: Tax Data (22 Jul 2020)

Paschal Donohoe: I am advised by Revenue that a breakdown of the Excise Duty in respect of alcohol sales from pubs is not available. Excise returns are filed with Revenue on release of the product from tax warehouses or on importation of the product, they do not record where or when the product is consumed. A monthly and quarterly breakdown of Excise Duty for 2019, for each of Beer, Spirits, Wine and Cider,...

Written Answers — Department of Finance: Fiscal Policy (22 Jul 2020)

Paschal Donohoe: My views regarding the establishment of any Fund are based on whether it would create any additional value to the State. As described by the Deputy, I believe that the proposed National Wealth Fund would in essence duplicate the role currently fulfilled on behalf of the State by State Savings products and the Ireland Strategic Investment Fund (ISIF). State Savings products, which are managed...