Results 11,661-11,680 of 32,602 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Company Law (3 Jun 2020)

Paschal Donohoe: I can confirm for the Deputy that nothing has been brought to my attention to indicate that there was anything inappropriate in the completion of the transaction as described by her. Notwithstanding this, should the Deputy have evidence that this was the case, including any breach of Company Law, she may wish to refer the matter to the Office of Director of Corporate Enforcement, the...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (3 Jun 2020)

Paschal Donohoe: The Strategic Banking Corporation of Ireland (SBCI) is Ireland’s National Promotional Institution for SMEs. The strategic mission of the Strategic Banking Corporation of Ireland (SBCI) is to deliver effective financial supports to Irish SMEs that address failures in the Irish credit market, while driving competition and innovation, and ensuring the efficient use of available EU...

Written Answers — Department of Finance: Banking Sector (3 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: Banking Sector (3 Jun 2020)

Paschal Donohoe: I am advised by the Central Bank, and by the relevant commercial banks, that the following arrangements are in place for the training of their directors (in the case of the Central Bank, the members of the Central Bank Commission), relevant to the Deputy’s question: Central Bank of Ireland The Central Bank is conscious of its responsibility in ensuring that the principles of human...

Written Answers — Department of Finance: Central Bank of Ireland (3 Jun 2020)

Paschal Donohoe: I propose to take Questions Nos. 84 and 85 together. I have been advised by the Central Bank of Ireland (the Central Bank) that it is focused on promoting the welfare of the people of Ireland as a whole and, through membership of Europe’s Monetary and Banking Unions, the welfare of the wider people of Europe. The Central Bank assures me that it is conscious of its...

Written Answers — Department of Finance: Flexible Work Practices (3 Jun 2020)

Paschal Donohoe: I wish to inform the Deputy that the Department of Finance has not, at this time, conducted any research on the impact of moving to a four-day work week. However the Department operates a number of schemes allowing staff avail of alternative working arrangements and a number of these are listed below.  Work Sharing In the Department of Finance work sharing is available to all...

Written Answers — Department of Finance: Small and Medium Enterprises (3 Jun 2020)

Paschal Donohoe: Covid-19 has brought unprecedented challenges for all of us in society. The Government recognises the importance of the SME sector that accounts for over 99 percent of businesses and nearly 70 per cent of employment in the Irish economy. That is why a key focus of Government has been to improve the supports provided for businesses since the start of this crisis.  These supports are kept...

Written Answers — Department of Finance: Wage Subsidy Scheme (3 Jun 2020)

Paschal Donohoe: The legislation governing the Temporary Wage Subsidy Scheme (TWSS) is set out in section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020. The administration of the TWSS is under the care and management of Revenue. The burden of compliance in relation to the TWSS rests solely with the employer rather than the employee.    Any amount due to be refunded...

Written Answers — Department of Finance: Tax Collection (3 Jun 2020)

Paschal Donohoe: I am informed by the Revenue Commissioners that Applus Car Testing Service Limited was appointed as a competent person by Revenue from 1 September 2010.  Since this date, Applus Car Testing Services Limited has collected, on behalf of the Revenue Commissioners, a total of €1,246,614,802 comprising VRT €1,223,138,919 and VAT €23,475,883 (overwhelmingly relating to...

Written Answers — Department of Finance: Credit Unions (3 Jun 2020)

Paschal Donohoe: In 2017, the Central Bank undertook a review of the investment framework for credit unions.  On 1 February 2018, the Central Bank published amending investment and liquidity regulations for credit unions.  Since 1 March 2018, credit unions have been permitted to invest in regulated investment vehicles where the underlying investments are investments in Tier 3...

Written Answers — Department of Finance: Tax Code (3 Jun 2020)

Paschal Donohoe: As the Deputy will be aware, in accordance with section 101 of the Ministers and Secretaries (Amendment) Act 2011, the Revenue Commissioners are independent in the performance of their functions under, or for the purpose of, the laws governing the tax code. I am aware that, for the period of the current COVID-19 crisis, Revenue has already agreed concessional treatment in relation to the...

Written Answers — Department of Finance: Value Added Tax (3 Jun 2020)

Paschal Donohoe: I am advised by Revenue that where a business is established in the State and supplies goods online to Irish customers VAT is chargeable at the same rate as applies to the sale of similar goods in a shop.  In general, sales of goods by traders in other EU member states to Irish customers are subject to the same rate of VAT as domestic sales of goods where the value of the sales to Irish...

Written Answers — Department of Finance: Value Added Tax (3 Jun 2020)

Paschal Donohoe: I am advised by the Revenue Commissioners that VAT is governed by the EU VAT Directive (Council Directive 2006/112/EC), with which Irish VAT law must comply. The Directive provides that VAT registration thresholds may only be raised by Member States to maintain their value in real terms, that is, they may only be increased in line with inflation. Our VAT thresholds were increased to their...

Written Answers — Department of Finance: Insurance Industry (3 Jun 2020)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. The issue of the validity of an insurance quotation is one that comes under the consumer protection code and therefore the remit of the Central Bank. However, in order to be as helpful to the Deputy as possible, my officials sought information from the Central Bank ...

Written Answers — Department of Finance: Wage Subsidy Scheme (3 Jun 2020)

Paschal Donohoe: 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 have been developed very quickly, having regard to the overarching urgent Government objective of getting much needed assistance to employers and employees, where businesses have been seriously affected by the pandemic and the...

Written Answers — Department of Finance: Wage Subsidy Scheme (3 Jun 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) is provided for in section 28 of the recently enacted 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 overarching, urgent Government objective of getting much needed financial assistance to employers and employees, where...

Written Answers — Department of Finance: Covid-19 Pandemic (3 Jun 2020)

Paschal Donohoe: As the Deputy will be aware, An Taoiseach, Leo Varadkar T.D. and I, along with the Minister for Business, Enterprise & Innovation, Heather Humphreys T.D., met with the Chief Executives of the five Irish major retail banks earlier this month. Furthermore, the Minister for Agriculture, Food & the Marine, Michael Creed TD, has engaged the banks on the specific liquidity and...

Written Answers — Department of Finance: Motor Insurance (3 Jun 2020)

Paschal Donohoe: At the outset you should note 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: Job Losses (3 Jun 2020)

Paschal Donohoe: The Deputy will be aware that as Minister for Finance, I am precluded from intervening in how Bank of Ireland manages its day-to-day business and relationship with any of its customers.  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...

Written Answers — Department of Finance: Value Added Tax (3 Jun 2020)

Paschal Donohoe: Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, which in Ireland is 23%. Parts or accessories are also liable to VAT at the standard rate. There is no provision under existing VAT law that would make it possible to apply a reduced rate or zero rate to the supply of such products. Under the EU VAT Directive, Member States may retain the zero...