Results 11,601-11,620 of 32,602 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Value Added Tax (9 Jun 2020)

Paschal Donohoe: 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, currently 23% in Ireland, unless they fall within categories of goods and services specified in the Directive, in respect of which Member States may apply a...

Written Answers — Department of Finance: Tax Yield (9 Jun 2020)

Paschal Donohoe: I am advised by Revenue that the 2019 receipts from Traditional Betting (in store), Remote Betting (online) and Betting Intermediary Duty on Commissions are shown in the following table. Traditional Betting Remote Betting Betting Intermediary Commissions Total €m €m €m ...

Written Answers — Department of Finance: Wage Subsidy Scheme (9 Jun 2020)

Paschal Donohoe: I am advised by Revenue that payments made to employees under the Temporary Wage Subsidy Scheme (TWSS) are liable to Income Tax and the Universal Social Charge (USC). However, in keeping with the Government’s objective of getting much needed assistance to employees during the period of the crisis, the subsidy payments are not taxable in real-time through the PAYE system. Instead,...

Written Answers — Department of Finance: Wage Subsidy Scheme (9 Jun 2020)

Paschal Donohoe: I propose to take Questions Nos. 54, 59, 67 and 78 together. The Temporary Wage Subsidy Scheme (TWSS) is one of a number of significant measures that have been introduced since the beginning of March to attempt to minimise the negative impact on the labour market through an exceptional period, where at least one million workers are now relying on some form of State support. The aim...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (9 Jun 2020)

Paschal Donohoe: I refer the Deputy to the reply given by the Minister for Children and Youth Affairs in relation to childcare for heath care workers on the 27 May last. The Temporary Wage Supplement Scheme was developed with the objective of getting much needed financial assistance to employers and employees as well as supporting the maintenance of the link between employers and their employees. The...

Written Answers — Department of Finance: Tax Data (9 Jun 2020)

Paschal Donohoe: I am informed by Revenue that the cost of Income Tax relief granted on superannuation contributions can be found in the ‘Cost of Tax Expenditures’publication, which is available on the Revenue website at link; www.revenue.ie/en/corporate/information-about-revenue/statis tics/tax-expenditures/costs-expenditures.aspx. The relevant information is available under the heading...

Written Answers — Department of Finance: Mortgage Lending (9 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 credit...

Written Answers — Department of Finance: Cycle to Work Scheme (9 Jun 2020)

Paschal Donohoe: The Cycle To Work scheme came into operation on 1 January 2009. The scheme operates on a self-administration basis and relief is automatically available provided the employer is satisfied that the conditions of their particular scheme meet the requirements of the legislation. There is no notification procedure for employers involved. This approach was taken with the deliberate intention of...

Written Answers — Department of Finance: Credit Unions (9 Jun 2020)

Paschal Donohoe: I propose to take Questions Nos. 64 and 65 together. First of all, I wish to inform the Deputy that both I and my officials have engaged extensively with the credit union representative bodies since the beginning of the COVID-19 pandemic. I spoke with the credit union representative bodies, by conference call on 23 March 2020 and again on 22 April 2020 to discuss the challenges and...

Written Answers — Department of Finance: EU Legislation (9 Jun 2020)

Paschal Donohoe: The Support to mitigate Unemployment Risks in an Emergency (SURE) instrument is intended primarily to support Member States with efforts to protect workers and jobs, and also support some health-related measures. Under the proposal, SURE will provide financial assistance to Member States of up to €100 billion in total. The Commission will borrow on financial markets to finance the...

Written Answers — Department of Finance: Wage Subsidy Scheme (9 Jun 2020)

Paschal Donohoe: I am advised by Revenue that the initial difficulties experienced by the business in question in accessing the Temporary Wage Subsidy Scheme (TWSS) arose because it failed to file its February submission by 15 March 2020 in accordance with the legislative provisions set down in Section 28 of Emergency Measures in the Public Interest (COVID-19) Act 2020. The business was subsequently provided...

Written Answers — Department of Finance: Covid-19 Pandemic Unemployment Payment (9 Jun 2020)

Paschal Donohoe: Payments made under the Pandemic Unemployment Payment (PUP) Scheme are income supports and share the characteristics of income. Other income earners in receipt of comparable “normal wages” are taxable on those wages and payments made under the PUP scheme are subject to income tax. However, tax will not be collected in real-time while the scheme is in operation. This is in...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (9 Jun 2020)

Paschal Donohoe: I do not have any plan at this time to reconsider the existing tax credit arrangements that apply to all taxpayers in the manner suggested by the Deputy. It is important to point out that the Temporary Wage Subsidy Scheme (TWSS), the Pandemic Unemployment Payment (PUP) already represent a very significant support to those who have may have suffered a loss of income arising from the...

Written Answers — Department of Finance: Wage Subsidy Scheme (9 Jun 2020)

Paschal Donohoe: I propose to take Questions Nos. 71 and 72 together. Regarding tax due from the temporary wage subsidy scheme for 2020 I am advised by Revenue that it is not possible to quantify at this stage the likely amount of tax to be received from employees in receipt of the Temporary Wage Subsidy Scheme (TWSS) supports. This will require assessment at year end of those who availed of the Scheme, to...

Written Answers — Department of Finance: Apple Escrow Account (9 Jun 2020)

Paschal Donohoe: As the Deputy is aware, the alleged State aid from Apple has been recovered by the State. The total amount recovered was €14.285 billion which constitutes the principal amount as well as the relevant EU interest. These sums have been placed into an Escrow Fund with the proceeds being released only when there has been a final determination in the European Courts over the validity of the...

Written Answers — Department of Finance: Rainy Day Fund (9 Jun 2020)

Paschal Donohoe: The value of the National Surplus (Exceptional Contingencies) Reserve Fund (“the Rainy Day Fund”) as at 30 May was €1.5bn. Given the scale of the impact on the economy of COVID-19 the Taoiseach has stated previously that the Rainy Day Fund (RDF) will be accessed as part of the Government’s response to the pandemic. The Stability Programme Update published in...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (9 Jun 2020)

Paschal Donohoe: The Pandemic Stabilisation and Recovery Fund (the “PSRF”), is a €2 billion sub-portfolio within the Ireland Strategic Investment Fund (the “ISIF”). The ISIF is managed and controlled by the National Treasury Management Agency. The PSRF requires no primary legislation as it will operate under the existing ISIF statutory mandate (investing on a commercial...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (9 Jun 2020)

Paschal Donohoe: The information requested by the Deputy is set out in the following table. Scheme Number of loans sanctioned from 1 January to 4 June 2020 Value of loans Future Growth Loan Scheme 667 €161,566,068 Brexit Loan Scheme 48 €7,068,000 Covid19 Working Capital Scheme 372 ...

Written Answers — Department of Finance: Banking Sector (9 Jun 2020)

Paschal Donohoe: As the Deputy is aware, I have engaged and will continue to engage, extensively with the Banking and Payments Federation (BPFI) and the banks directly in relation to supports for personal and business customers affected by the COVID-19 crisis. Furthermore, officials in my Department are alert to issues raised directly by the public and these inform the Department’s ongoing engagement...

Written Answers — Department of Finance: Financial Services and Pensions Ombudsman (9 Jun 2020)

Paschal Donohoe: I am advised that from the 1 January to end May 2020, the Financial Services and Pensions Ombudsman (FSPO) received 2,103 complaints. The number of complaints for the same period in 2019 was 2,405. In March of this year, the FSPO began to receive small numbers of complaints which included COVID-19 as an element of the complaint. At the end of May 2020, the FSPO had received 100...