Results 11,761-11,780 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: VAT Rate Application (20 May 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 - and it will pass – our people can get...

Written Answers — Department of Finance: Insurance Coverage (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 54, 55 and 134 together. 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, in terms of honouring business interruption claims and also with regard to whether forbearance and other flexible measures are being offered to them. In this...

Written Answers — Department of Finance: Home Building Finance Ireland (20 May 2020)

Paschal Donohoe: HBFI was established, in January 2019, to increase the availability of funding for the residential development market. At the time of launch, HBFI offered a Senior Debt funding product for developments of 10 units and above. On 10 May 2020, HBFI released a number of new products, one of which provides funding for smaller commercially viable residential projects, of 5 units or more. ...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 57, 84, 85 and 92 together. In relation to the Temporary Wage Subsidy Scheme (TWSS), since 9 April 2020 Revenue has published statistics on the operation of the TWSS on a regular basis. On 14 May, Revenue published updated and expanded statistical information in relation to the scheme. All of these statistics are available on Revenue’s website...

Written Answers — Department of Finance: Real Estate Investment Trusts (20 May 2020)

Paschal Donohoe: Finance Act 2013 introduced the regime for the operation of Real Estate Investment Trusts (REITs) in Ireland. The function of the REIT framework is not to provide an overall tax exemption but rather to facilitate collective investment in rental property by removing a double layer of taxation which would otherwise apply on property investment via a corporate vehicle. A number of...

Written Answers — Department of Finance: Tax Collection (20 May 2020)

Paschal Donohoe: I am advised by Revenue that Professional Services Withholding Tax (PSWT) is a deduction at source that is applied to certain payments made by bodies listed in legislation to professional service providers. Tax is deducted at the standard income tax rate, currently 20%. It should be noted that PSWT is not an additional tax.  It is instead a payment on account, which is set against the...

Written Answers — Department of Finance: Departmental Contracts (20 May 2020)

Paschal Donohoe: My department regularly publishes details of consultancy expenditure on its website, most recently for Q1 2020. The following table outlines the detail and costs of my department’s engagement of external consultants from 1 January 2020 to date. Supplier: The details of such engagements: Costs: Indecon International Economic Consultants ...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 61, 74, 77 and 108 together. 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 legislation and the scheme itself were developed very quickly to support the urgent Government objective of getting much needed assistance to...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 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. The scheme builds on data returned to Revenue through its real-time PAYE system. It must be accepted that the underlying legislation and the scheme itself simply cannot be tailored to meet every individual unique set of circumstances for either employers or...

Written Answers — Department of Finance: Ministerial Meetings (20 May 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 - and it will pass – our people can get...

Written Answers — Department of Finance: Financial Services Sector (20 May 2020)

Paschal Donohoe: As part of the Targeted Longer-Term Refinancing Operation (TLTRO), banks can borrow from the Eurosystem at favourable terms to incentivise eligible lending to businesses and households. As of 30 April, the Governing Council of the ECB has set the entry rate on the TLTRO programme to be -0.5%. The interest rate then decreases on a scale depending on developments in a bank’s eligible...

Written Answers — Department of Finance: Proposed Legislation (20 May 2020)

Paschal Donohoe: In respect of the measures to which the Deputy refers and for which my Department is responsible, I am advised by Revenue that the effective “warehousing” of VAT and PAYE (Employer) liabilities is currently operational.  In March this year, Revenue announced that it was suspending debt collection and the charging of interest on late payment for the January/February and...

Written Answers — Department of Finance: Mortgage Applications Approvals (20 May 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 (20 May 2020)

Paschal Donohoe: I am advised by Revenue that there is currently no delay in processing applications under the Drivers and Passengers with Disabilities Scheme or the associated Fuel Grant Scheme. The processing of applications for the latter scheme is administered by Revenue on behalf of the Department of Finance, which makes the relevant payments. Revenue has however confirmed that the changes introduced...

Written Answers — Department of Finance: Departmental Correspondence (20 May 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 - and it will pass – our people can get...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: As the Deputy will be aware, the BPFI announced late last month that over 65,000 mortgage payment breaks had been granted since the cross-bank initiative was introduced. The members of the BPFI announced on 30 April, that a further three-month extension to the current payment break will be made available to customers that continue to be directly impacted by the fallout...

Written Answers — Department of Finance: Revenue Commissioners (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 71 and 114 together. The Temporary Wage Subsidy Scheme (TWSS) is operational from 26 March 2020 for payrolls submitted to Revenue with a pay date on or after that date.  For operational reasons, in order to claim the wage subsidy, employers must classify qualifying employees as PRSI Class J9 for the purposes of their payroll reporting...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: The legislation underpinning the Temporary Wage Subsidy Scheme (TWSS) is contained in Section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020. Of necessity, the legislation and the scheme itself were developed very quickly to support the urgent Government objective of getting much needed assistance to employers and employees that have been seriously affected by the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 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. The underlying legislation and the scheme itself were developed within a very short timeframe to support the urgent Government objective of getting much needed assistance to employers and employees, where businesses have been seriously affected by the necessary...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 75 and 82 together. I am advised by Revenue that all cases which have applied for refunds under the Temporary Wage Subsidy Scheme (TWSS) and which were rejected on the basis of failing to meet the eligibility criteria are reviewed by Revenue. The TWSS builds on data returned to Revenue through its real-time PAYE system. It must be accepted that the underlying...