Results 11,801-11,820 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Bank Charges (20 May 2020)

Paschal Donohoe: The Deputy will aware that card payments, and in particular contactless payments, are being promoted in order to support public health policy at this time. Fees for the acceptance of card transactions are charged to retailers by their acquirer, who manages the account and relationship between a retailer and the various card schemes.  All acquirers in Ireland are independent...

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

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) makes no distinction between employees by reference to their place of residence. All eligible employees of qualifying employers are entitled to the wage subsidy. The TWSS is provided for in section 28 of the recently enacted Emergency Measures in the Public Interest (Covid-19) Act 2020 (The Act). Of necessity, the underlying legislation and...

Written Answers — Department of Finance: VAT Rate Application (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 104, 105 and 112 together. The European Commission Decision C(2020)2146, adopted on 3 April 2020, provides for the importation of goods to fight the effects of COVID -19 from outside the European Union without the payment of VAT or Customs Duty from January 2020. Such relief is permitted where the goods are imported by or on behalf of State bodies, public...

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

Paschal Donohoe: When computing the amount of profits or gains to be charged to corporation tax, a company is, in general, entitled to deductions in respect of revenue expenditure wholly and exclusively incurred for the purposes of its trade as provided for in section 81 of the Taxes Consolidation Act, 1997. I am advised by the Revenue Commissioners that where a business incurs costs to implement social...

Written Answers — Department of Finance: Exchequer Deficit (20 May 2020)

Paschal Donohoe: The Government published its Draft Stability Programme Update on 21 April. This set out an updated economic and fiscal scenario, for this year and next, incorporating the impact of the Covid-19 pandemic. The necessary fiscal cost of providing short-term support to the private sector will be significant. A general government deficit of €23 billion was projected for this year. The cost...

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

Paschal Donohoe: There are a number of tax credits and reliefs available to individuals who are carers of incapacitated persons. The Incapacitated Child Tax Credit is a tax credit of €3,300, which can be claimed by a person in respect of a child who is permanently incapacitated either physically or mentally from maintaining himself or herself and had become so before reaching 21 years of age or...

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

Paschal Donohoe: I am advised by Revenue that the additional amount of revenue that could be generated if the betting intermediary duty rate increased from 25% to 30% is estimated at €0.55m in a full year, potentially bringing the total amount for this duty to €3.3 million in a full year.

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

Paschal Donohoe: Details of the dividends paid to the Exchequer in 2018 and 2019 by each commercial State body are provided in the table below. Information on such dividends and receipts paid to the Exchequer are published on a monthly basis by my Department in the Fiscal Monitor which is available at . Company 2018 € 2019 € Coillte Teoranta ...

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

Paschal Donohoe: Payments made under the Pandemic Unemployment Payment (PUP) Scheme are an income support and share the characteristics of income.  Other income earners in receipt of comparable “normal wages” are taxable on those wages.  In the interest of equity, therefore, payments made under the PUP scheme are subject to income tax.  However, tax will not be collected in...

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

Paschal Donohoe: I propose to take Questions Nos. 115 and 116 together. 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...

Written Answers — Department of Finance: Tax Collection (20 May 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 have been developed very quickly, having regard to the overarching, urgent Government objective of getting much needed assistance to employers and employees,...

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

Paschal Donohoe: At the outset, I would like to express my sympathy for those whose wedding plans have been impacted by the COVID-19 pandemic.  However, the Deputy should note that neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, or their contractual terms, as these matters are of a commercial nature, and are determined by insurance companies...

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

Paschal Donohoe: I propose to take Questions Nos. 119 and 126 together. As the Deputy will be aware, An Taoiseach, Leo Varadkar and I, along with the Minister for Business, Enterprise & Innovation, met with the Chief Executives of the five Irish major retail banks last week. The Taoiseach emphasised the important role of the banking sector in supporting the gradual re-opening of the Irish economy by...

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

Paschal Donohoe: I propose to take Questions Nos. 121 and 122 together. 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 March/April 2020 VAT periods and the February, March and April 2020 PAYE (Employer) periods.  On 7 May 2020, Revenue announced the extension of these arrangements to include 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: Brexit Issues (20 May 2020)

Paschal Donohoe: As the Deputy may recall, Budget 2020 was framed on the assumption of a disorderly Brexit. While the fiscal and economic circumstances have changed dramatically, the magnitude of the projected ‘fiscal swing’ forecast under such a scenario may be indicative of the potential impact of the transition period ending without a trade arrangement.  In nominal terms, the Budget...

Written Answers — Department of Finance: Universal Social Charge Application (20 May 2020)

Paschal Donohoe: Under Section 985 Taxes Consolidation Act 1997, the Education Training Boards (ETB) are required to deduct tax under the Income Tax PAYE system on the making of payments to craft apprentices.  The Income Tax PAYE system places an obligation on employers to make deductions at source of Income Tax, USC and PRSI from payments made to employees and an obligation to remit such deductions to...

Written Answers — Department of Finance: Banking Sector (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: Section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020 is the legislation underpinning the Temporary Wage Subsidy Scheme (TWSS).  The Government’s priority in so far as the TWSS is concerned was, and is, to ensure that all employers experiencing significant negative economic disruption from COVID-19 can register for, and start to receive, payment quickly....

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...