Results 11,581-11,600 of 33,214 for speaker:Paschal Donohoe

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

Paschal Donohoe: I propose to take Questions Nos. 249 and 265 together. Revenue published detailed statistical updates on the TWSS on a weekly basis for the duration of the scheme in order to provide as timely and transparent data on the utilisation and impact of the TWSS as possible. These statistics are available at: . The Employment Wage Subsidy Scheme (EWSS) was legislated for in the recently enacted...

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

Paschal Donohoe: The stabilisation of the economy from 2015 to 2019 allowed for reductions in the personal tax burden introduced in five successive Budgets. It focused on reductions to income tax targeted at low to middle income earners. The lower rates of Universal Social Charge were reduced from 2%, 4% and 7% to 0.5%, 2% and 4.5%, respectively. The income tax standard-rate band was increased by...

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

Paschal Donohoe: The Employment Wage Subsidy Scheme (EWSS) is an economy-wide enterprise support that gives a flat rate subsidy to qualifying employers to preserve the link between employee and employer and support firm viability through an unprecedented enterprise environment. The EWSS has been in operation since July and it replaced the Temporary Wage Subsidy Scheme (TWSS) from 1 September 2020. It...

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

Paschal Donohoe: Revenue has assured me that it is very aware of the pressures faced by taxpayers and tax agents in meeting tax filing deadlines this year and is closely monitoring the position regarding the upcoming Income Tax pay and file deadline. Revenue has advised me that it will confirm this year’s Income Tax filing deadline shortly.

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

Paschal Donohoe: I am aware of the concerns expressed about how the insurance industry is responding to the needs of its business policyholders in these difficult times, including honouring business interruption claims. As such, I have considerable sympathy for such policyholders. However, neither I, nor the Central Bank can direct or require that insurers cover claims, including those resulting from...

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: Covid-19 Pandemic Supports (15 Sep 2020)

Paschal Donohoe: I propose to take Questions Nos. 255 and 280 together. Between March and August 2020, over 65,000 employers received a subsidy under the Temporary Wage Subsidy Scheme (TWSS) with payments worth over €2.8 billion paid out to a total of 663,100 workers. The average monthly cost of the TWSS was around €500m which would be the expected cost per month if the measure was to be...

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...