Results 11,541-11,560 of 32,602 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jun 2020)

Paschal Donohoe: Revenue has advised me that employers within the TWSS who have more than 100 employees account for approximately 3% of all employers in the scheme and 37% of the employees being supported by the scheme.  Notwithstanding any obligations imposed on Revenue under section 851A of the Taxes Consolidation Act 1997 or any other enactment relating to the confidentiality of taxpayer...

Written Answers — Department of Finance: Property Tax (16 Jun 2020)

Paschal Donohoe: I am informed by Revenue that, for those property owners struggling to pay local property tax (LPT), a wide range of payment options are available to suit individual circumstances and payment of LPT can be partially or fully deferred in certain circumstances. In addition, while not restricted to recipients of social welfare payments, such people may qualify for one of the LPT exemptions. ...

Written Answers — Department of Finance: Employment and Investment Incentive Scheme (16 Jun 2020)

Paschal Donohoe: The Employment and Investment Incentive (EII) replaced the Business Expansion Scheme in 2011. It is a tax relief incentive scheme that provides tax relief for investment in certain corporate trades and is targeted at job creation and retention for firms in their first seven years of market operation or before that point.  Generally, companies older than seven years should  be...

Written Answers — Department of Finance: Mortgage Lending (16 Jun 2020)

Paschal Donohoe: The European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (CMCAR) provide that, before concluding a mortgage credit agreement, a lender must make a thorough assessment of the consumer’s creditworthiness.  The assessment must take appropriate account of factors relevant to verifying the prospect of the consumer being able to meet his or her obligations under the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jun 2020)

Paschal Donohoe: In recognition of the challenges which remain for businesses across the country, the Government decided on 5 June 2020 to extend the Temporary Wage Subsidy Scheme (TWSS) until the end of August. It is not possible to provide an accurate estimate of the cost of the extension.  However, to-date, the scheme is estimated to cost roughly €500 million per week.  The...

Written Answers — Department of Finance: Mortgage Lending (16 Jun 2020)

Paschal Donohoe: The European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (CMCAR) provide that, before concluding a mortgage credit agreement, a lender must make a thorough assessment of the consumer’s creditworthiness.  The assessment must take appropriate account of factors relevant to verifying the prospect of the consumer being able to meet his or her obligations under the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jun 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) was legislated 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 really quickly, having regard to the urgent Government...

Written Answers — Department of Finance: Value Added Tax (16 Jun 2020)

Paschal Donohoe: 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 crisis passes our people can get back to work as quickly and...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jun 2020)

Paschal Donohoe: The temporary wage subsidy scheme, TWSS, is an emergency measure to deal with the impact of the Covid-19 pandemic on the economy and is being extended until the end of August.  The TWSS provides a sum to employers to cover a portion of their wage bill in circumstances where the employer’s business has been negatively impacted by the restrictions that have had to be...

Written Answers — Department of Finance: Covid-19 Pandemic (16 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.  In the context of the need for the immediate implementation of the TWSS, the scheme necessarily had to build on data returned to Revenue through its real-time PAYE system.  The key conditions of the scheme, as prescribed in the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 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...

Written Answers — Department of Finance: Departmental Expenditure (16 Jun 2020)

Paschal Donohoe: I wish to inform the Deputy that my Department has no record of spending on social media monitoring during the years 2018 and 2019.

Written Answers — Department of Finance: Banking Sector (16 Jun 2020)

Paschal Donohoe: The Central Bank is happy to share its assessment, which my office will send to the Deputy.

Written Answers — Department of Finance: Covid-19 Pandemic (16 Jun 2020)

Paschal Donohoe: The flexible approach taken by Revenue to debt collection and enforcement activity has provided vital liquidity support to businesses during the COVID-19 crisis. In this context, Revenue has emphasised the importance of businesses continuing to file tax returns promptly, even in circumstances where they cannot pay the associated liabilities. Revenue has also acknowledged that some...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Jun 2020)

Paschal Donohoe: Section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020 underpins the Temporary Wage Subsidy Scheme (TWSS).  It makes provision for the Minister for Finance to determine the amount of the temporary wage subsidy, with the consent of the Minister for Employment Affairs and Social Protection, given with the concurrence of the Minister for Public Expenditure and...

Written Answers — Department of Finance: Tax Data (16 Jun 2020)

Paschal Donohoe: I am advised by Revenue that the costs of various changes to Capital Acquisition Tax (CAT) thresholds and rates are published on pages 15-16 of the Revenue Ready Reckoner which is available at link: . While the exact changes proposed by the Deputy are not all included, they can be extrapolated on a straight line or pro-rata basis from those shown.

Written Answers — Department of Finance: Tax Data (16 Jun 2020)

Paschal Donohoe: I am advised by Revenue that the estimated yield from increasing the rate of Capital Gains Tax (CGT)  is published on page 13 of the Revenue Ready Reckoner, available at link; . While the exact changes sought by the Deputy are not provided, they can be estimated on a straight-line or pro-rata basis. It should be noted that these estimates are based upon an assumption that there would be...

Written Answers — Department of Finance: Tax Data (16 Jun 2020)

Paschal Donohoe: The regime for the operation of Real Estate Investment Trusts (REITs) in Ireland was introduced in Finance Act 2013. The framework for REITs is designed to facilitate collective investment in rental property by removing a double layer of taxation which would otherwise apply on property investment through a corporate vehicle. The property rental income and gains are exempt from tax within the...

Written Answers — Department of Finance: Tax Data (16 Jun 2020)

Paschal Donohoe: The Deputy will be aware that companies in Ireland are mainly taxed at the standard corporation tax rate of 12.5 per cent.  The higher corporation tax rate of 25 per cent applies to certain income of companies, mainly non-trading income.  I am aware of different figures and methodologies being used to calculate effective tax rates paid by companies in Ireland.  While some of...

Written Answers — Department of Finance: Tax Data (16 Jun 2020)

Paschal Donohoe: I assume the Deputy is referring to the High-Income Individual’s Restriction. The restriction is designed to ensure that individuals with an adjusted income level of €400,000 or more (where the full restriction applies) pay an effective rate of Income Tax of approximately 30%. Where adjusted income is less than €400,000, a tapering approach ensures that there is a...