Results 11,361-11,380 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Statutory Instruments (7 Jul 2020)

Paschal Donohoe: Statutory Instrument 110 of 2019, the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019, was signed into law on 22 March 2019. These Regulations transpose Article 30 of the Fourth Anti-Money Laundering Directive (as amended by the Fifth Anti-Money Laundering Directive) and maintain the obligation, first established in 2016, for corporate...

Written Answers — Department of Finance: Tax Credits (7 Jul 2020)

Paschal Donohoe: The Research and Development (R&D) tax credit allows companies to claim a 25% tax credit in respect of expenditure incurred on qualifying R&D activities. In making a claim for the R&D tax credit, companies must satisfy two tests: the activity must be a qualifying activity (a science test); and the amount of the claim must be based on R&D expenditure incurred...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: I have been advised by the Central Bank of Ireland (the Central Bank) that it is committed to regularly reviewing its statutory Codes and ensuring they remain effective. The Central Bank first introduced the Code of Conduct on Mortgage Arrears (CCMA) in 2009 in the midst of an economic and employment crisis to provide statutory safeguards for vulnerable, financially-distressed borrowers...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: The Programme for Government has committed to introduce a Senior Executive Accountability Regime (SEAR). SEAR will drive positive changes in terms of culture, greater delegation of responsibilities, and enhanced accountability while simplifying the taking of sanctions against individuals who fail in their financial sector roles. Officials in my Department are engaging with the Attorney...

Written Answers — Department of Finance: Covid-19 Pandemic (7 Jul 2020)

Paschal Donohoe: The Government is very much aware of the economic difficulties and challenges the Covid-19 pandemic is causing for very many people and businesses. Therefore, in the Programme for Government - Our Shared Future - this new Government commits itself to make every effort to get people back to work, to re-open businesses while developing the strategies and the policies to drive this forward....

Written Answers — Department of Finance: Motor Tax (7 Jul 2020)

Paschal Donohoe: Programme for Government measures such as this are being considered by my officials in the context of the upcoming Budget and future Budgets.

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: As stated in the Programme for Government, it is the Government’s intention to increase the carbon tax to 100 euro per tonne by 2030. This increase is to be achieved by an annual increase of €7.50 per annum to 2029 and €6.50 in 2030. The Programme for Government also plans to legislate for the hypothecation of all additional carbon tax revenue into a Climate Action...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: Well-being is a multidimensional concept which spans economic, social, health, and environmental concerns, amongst others. One of the responsibilities of Government entails monitoring and improving the living standards, or well-being, of the Irish people through a variety of channels. The limitations of standard economic statistics such as GDP in reflecting the welfare of citizens have...

Written Answers — Department of Finance: Budget Process (7 Jul 2020)

Paschal Donohoe: The Deputy will be aware that the main channel through which resource redistribution is incorporated within the budgetary process is by means of our highly progressive income tax system. In its study published in January of this year, the ESRI found that Ireland’s tax system does the most in Europe to reduce household income inequality. It found that in 2017, the tax system lowered...

Written Answers — Department of Finance: Budget Process (7 Jul 2020)

Paschal Donohoe: In answer to this PQ, please refer to the reply provided by the Department of Public Expenditure and Reform to Parliamentary Question No. 239 of today. PQ Ref:14626/20.

Written Answers — Department of Finance: Economic Policy (30 Jun 2020)

Paschal Donohoe: I propose to take Questions Nos. 22 and 41 together. I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply...

Written Answers — Department of Finance: Insurance Coverage (30 Jun 2020)

Paschal Donohoe: At the outset it should be noted that neither I, as Minister for Finance, nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products or have the power to direct insurance companies to provide cover to specific individuals or businesses.  This position is reinforced by the EU framework for insurance (the Solvency II Directive) which expressly prohibits...

Written Answers — Department of Finance: Tax Reliefs (30 Jun 2020)

Paschal Donohoe: The Department of Health/HSE administer a Mobility Allowance and Motorised Transport Grant to assist persons with disabilities. Information in relation to these supports can be found in the following link, as well as a broader range of transport supports for persons with disabilities:  In addition to these supports, the Disabled Drivers and Disabled Passengers Scheme provides for relief...

Written Answers — Department of Finance: Living City Initiative (30 Jun 2020)

Paschal Donohoe: The Living City Initiative (LCI) (provided for in Finance Act 2013 and commenced on 5 May 2015) is a tax incentive aimed at the regeneration of the historic inner cities of Dublin, Cork, Galway, Kilkenny, Limerick and Waterford. The scheme provides income or corporation tax relief for qualifying expenditure incurred in refurbishing/converting qualifying buildings which are located...

Written Answers — Department of Finance: Wage Subsidy Scheme (30 Jun 2020)

Paschal Donohoe: I propose to take Questions Nos. 26, 43, 48, 51, 57 and 69 together. The Temporary Wage Subsidy Scheme (TWSS) is provided for in section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020. The TWSS is an emergency measure to deal with the impact of the Covid-19 pandemic on the economy. Of necessity, the underlying legislation and the scheme itself were developed quickly,...

Written Answers — Department of Finance: International Bodies (30 Jun 2020)

Paschal Donohoe: As the Minister for Finance is Ireland’s Governor to the IMF, I propose to respond to the Deputy’s question as far as it relates to the Fund. I presume that the Deputy is referring to the 2012 set of UN Guiding Principles on Foreign Debt and Human Rights, endorsed by resolution (A/HRC/RES/20/10) obliging governments (lenders and borrowers) to ensure the primacy of human rights...

Written Answers — Department of Finance: International Bodies (30 Jun 2020)

Paschal Donohoe: As the Minister for Finance is Ireland’s Governor to the IMF, I propose to respond to the Deputy’s question. I presume that the Recommendations that Deputy Shortall is referring to are those contained in the “Unhealthy conditions: IMF loan conditionality and its impact on health financing” report published by Eurodad (the European Network on Debt and Development),...

Written Answers — Department of Finance: Tax Collection (30 Jun 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 Code (30 Jun 2020)

Paschal Donohoe: I am advised by Revenue that section 189 of the Taxes Consolidation Act 1997 exempts permanently incapacitated individuals from income tax, pay related social insurance (PRSI), universal social charge and capital gains tax on the income arising and gains accruing from the investment of certain compensation payments.  This may be the tax exemption to which the Deputy refers.  This...

Written Answers — Department of Finance: Wage Subsidy Scheme (30 Jun 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. Of necessity, the underlying legislation and the scheme itself were developed quickly, having regard to the objective of getting financial assistance to employers and employees, where businesses have been seriously affected by the pandemic and...