Results 11,381-11,400 of 32,602 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Universal Social Charge (7 Jul 2020)

Paschal Donohoe: I am advised by Revenue that the estimated first and full year costs of abolishing the 3% Universal Social Charge (USC) surcharge on incomes over €100,000 for the self-employed are €53m and €98m, respectively. These estimated figures are based on projected 2020 incomes, calculated on the basis of actual data for 2017, which is the latest year for which income tax returns...

Written Answers — Department of Finance: Wage Subsidy Scheme (7 Jul 2020)

Paschal Donohoe: As previously advised to the Deputy in my reply to his Parliamentary Question on 30 June 2020, the amount of Temporary Wage Subsidy Scheme (TWSS) payable to eligible employees is based on their ‘average revenue net weekly pay’ (ARNWP) for January and February 2020, as returned by the employer to Revenue through the real-time PAYE system. The ARNWP calculation is based on the...

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

Paschal Donohoe: Irish macroeconomic statistics have been heavily affected by globalisation and the activities of multinationals in recent years. I have outlined on a number of occasions the difficulties in particular with using GDP given the small and very open nature of the economy. This was most evident with the national accounts figures for 2015 (published in 2016). For these reasons, alternative measures...

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

Paschal Donohoe: I am advised that the refund claims in question have been examined by Revenue, following which three are approved as correctly due, four require further clarifications from the taxpayer or tax agent and three are not properly due. The issues requiring further clarification have been provided to the tax agent to which responses have not yet been received. The refunds that were approved...

Written Answers — Department of Finance: Revenue Commissioners (7 Jul 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) is a support to maintaining employment during the public health restrictions necessitated by the COVID-19 pandemic. To date, the scheme has provided support to almost 59,000 employers in respect 568,000 employees totalling €1.9 billion. Approximately 410,000 employees are currently in receipt of the subsidy. The Emergency Measures in the...

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

Paschal Donohoe: I am advised by the Revenue Commissioners that renovation expenditure on a bed and breakfast (B&B) could, depending on the type of expenditure involved, either be regarded as capital or revenue in nature. Where accommodation is provided as part of the carrying on of a B&B trade, in computing the profits chargeable to tax, a deduction will be available for expenditure that is...

Written Answers — Department of Finance: Public Liability Insurance (7 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 B&Bs and guesthouses. The Deputy should note that neither I, nor the Central Bank, have any influence over the pricing of insurance products, nor can we compel any insurer operating in the Irish market to...

Written Answers — Department of Finance: Wage Subsidy Scheme (7 Jul 2020)

Paschal Donohoe: I previously responded to the Deputy on this matter on 27 May 2020 in reply to a Parliamentary Question that he addressed to me. The position has not changed since then. The Temporary Wage Subsidy Scheme (TWSS) is available for any employee, whether full-time or part-time, who was on the payroll of the employer at 29 February 2020. This requirement is set down in Section 28 of the...

Written Answers — Department of Finance: Banking Sector Staff (7 Jul 2020)

Paschal Donohoe: The Deputy will be aware that as Minister for Finance, I am precluded from intervening in how AIB manages its day-to-day business and staffing issues. Decisions in this regard are solely the responsibility of the board and management of the bank which must be run on an independent and commercial basis. The independence of the banks in which the State has a shareholding is protected by...

Written Answers — Department of Finance: Mortgage Lending (7 Jul 2020)

Paschal Donohoe: I fully appreciate the concerns many people are experiencing about mortgage applications and drawdowns at this difficult time, and my Department is maintaining close contact with the Central Bank and Banking and Payments Federation Ireland (BPFI) as the lending industry works to address the difficulties the Covid-19 situation is causing for both borrowers and lenders. In this context, the...

Written Answers — Department of Finance: Commencement of Legislation (7 Jul 2020)

Paschal Donohoe: In line with the commitment that I had previously given that the commencement of the Consumer Insurance Contracts Act would be determined by the Minister for Finance of the new Government, I can confirm that the matter is under active consideration. I envisage that the bulk of the provisions of the Consumer Insurance Contracts Act will be commenced shortly. I am also keen to determine...

Written Answers — Department of Finance: Central Bank of Ireland (7 Jul 2020)

Paschal Donohoe: I am informed by the Central Bank that it cannot comment on its engagement with individual firms. Two companies of the group in question have notified the Central Bank of their intention to passport services into Ireland under authorisations obtained in the UK and Germany. The group does not hold an authorisation from the Central Bank of Ireland.

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

Paschal Donohoe: The European Commission Decision C(2020)2146, adopted on 3 April 2020, provides for the importation of goods to fight the effects of COVID -19 (including personal protective equipment) from outside the European Union without the payment of VAT or Customs Duty from January 2020. Such relief is permitted where the goods are imported by or on behalf of State bodies, public bodies and other...

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

Paschal Donohoe: I propose to take Questions Nos. 180, 193 and 194 together. The Government is fully aware of the unprecedented impact that the coronavirus is having on business and people’s livelihoods. In this regard a range of measures have been introduced to provide income support to those who need it while also giving confidence to employers to retain the link with employees so that when this...

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

Paschal Donohoe: I am advised by the Revenue Commissioners that, in general, where a person surrenders their property to a financial institution and where a person such as a receiver appointed by a financial institution disposes of a property on behalf of that financial institution, the debtor i.e. the property owner, is the person disposing of the property but the person acting on behalf of the financial...

Written Answers — Department of Finance: Mortgage Lending (7 Jul 2020)

Paschal Donohoe: As the Deputy will be aware, the Temporary Wage Subsidy Scheme is one of the main tools with which we are protecting the income of employees who otherwise would not be working. However, whilst I acknowledge the seriousness of the issue you have raised and its impact on those affected, what I cannot do is mandate how temporary payments received under the Temporary Wage Subsidy Scheme are...

Written Answers — Department of Finance: Wage Subsidy Scheme (7 Jul 2020)

Paschal Donohoe: I would like to advise the Deputy that Revenue publish comprehensive statistics on the Temporary Wage Subsidy Scheme (TWSS) at the following link: www.revenue.ie/en/corporate/information-about-revenue/statis tics/number-of-taxpayers-and-returns/covid-19-wage-subsidy-s cheme-statistics.aspx. I would draw the Deputy's attention to Table 11 of the 25 June report which breaks down the employees...

Written Answers — Department of Finance: Brexit Issues (7 Jul 2020)

Paschal Donohoe: A failure to achieve a trade agreement between the United Kingdom and the European Union at the end of this year could have severe implications for the economy and the public finances, particularly when combined with the shock of the Covid-19 pandemic. The Deputy will recall that Budget 2020 was framed on the prudent assumption of a disorderly Brexit in January 2020. While the economic...

Written Answers — Department of Finance: Ministerial Responsibilities (7 Jul 2020)

Paschal Donohoe: I wish to advise the Deputy that a briefing document prepared by the Department of Finance was provided to me on my appointment as Minister for Finance. Arrangements are in train for publication of this document having regard to the relevant provisions of the Freedom of Information Act 2014.

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

Paschal Donohoe: I am aware that Revenue has already deferred collection of 2020 Local Property Tax (LPT) liabilities that were scheduled for payment on 21 March 2020 via the electronic Annual Debit Instruction (ADI) option on two occasions. The initial revised date for collection was 21 May 2020 which Revenue subsequently further extended to 21 July 2020 in response to the unfolding COVID-19 crisis. Revenue...