Results 11,841-11,860 of 32,602 for speaker:Paschal Donohoe

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

Paschal Donohoe: As the Deputy is aware, I do not have the authority to instruct the Revenue Commissioners to defer the collection of any tax that is legally collectible, including Local Property Tax (LPT), from those affected by the COVID-19 pandemic. I am, however, aware that Revenue has already deferred payment of LPT for residential property owners that meet their 2020 liability through the...

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

Paschal Donohoe: The Department of Finance has no record of payments or expenses being made to the person named in the PQ for services provided during the Covid-19 crisis. I wish to note that my response refers only to Department of Finance records and I cannot comment on behalf of other Government Departments.  

Written Answers — Department of Finance: Pension Levy (20 May 2020)

Paschal Donohoe: The pension fund levy was introduced in 2011 in the wake of the financial crash and at a time when the economy was in serious difficulties. Urgent action needed to be taken to preserve and boost jobs and it is an unavoidable fact that difficult economic situations require hard and very often unpopular decisions. All sectors of the economy had to contribute to the recovery plan and the levy...

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

Paschal Donohoe: Mr. David Tynan of PwC was appointed to the role of Assessor pursuant to the Anglo Irish Bank Corporation Act 2009 in November 2018. The Assessor's report was published on the Department of Finance website on 12 May 2020 and the overall conclusion of this report is that the fair and reasonable aggregate value of the transferred shares and the extinguished rights in the bank as...

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

Paschal Donohoe: In response to the Deputy’s question, my officials contacted the Central Bank for information on this matter.  In their reply, the Central Bank indicated that as the information sought by the Deputy relates to their day-to-day supervisory work of (re) insurers, they are precluded from providing a response to your question.  They also noted that they do not divulge firm...

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

Paschal Donohoe: I am advised by Revenue that, notwithstanding any obligations imposed on the Revenue Commissioners under section 851A of the Taxes Consolidation Act 1997 or any other enactment relating to the confidentiality of taxpayer information, section 28 of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides that the names and addresses of all employers to whom a temporary wage...

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

Paschal Donohoe: An External Review of the SBCI was completed by EY. This was published on the website of the SBCI on the 18th May 2020, along with the SBCI Strategic Plan 2020-2025.

Written Answers — Department of Finance: VAT Rate Application (20 May 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 unless they fall within categories of goods and services specified in the Directive in respect of which Member States may apply a lower rate or exempt...

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

Paschal Donohoe: I am advised by Revenue that the amount collected in Carbon Tax in each of the years 2018 and 2019 is €431.1 million and €430.4 million respectively.

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

Paschal Donohoe: Decisions in relation to mortgage lending are a commercial matter for lenders and are based on a number of factors, including the cost of borrowing. While interest rates in Ireland remain higher than in many other European countries, there has been significant reduction in interest rates on new mortgage lending over the last 4-5 years. For example, the new business interest rate,...

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. It builds on data returned to Revenue through the PAYE system and as such is a fully automated solution. The automated solution, which was developed in a very short timeframe in response to the pandemic, is designed around the dates specified in the legislation and...

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

Paschal Donohoe: I am informed by Revenue that the Exchequer yield from the introduction of the additional taxes suggested by the Deputy is estimated to be in the region of €290 million in a full year. This yield assumes that that tax would be imposed on all non-principal private residences, excluding residential properties in the ownership of local authorities and approved housing bodies.

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

Paschal Donohoe: Revenue has advised me that investment in the training and development of a Revenue auditor or investigator can take up to three years, depending on previous relevant experience. Therefore, it is not possible to accurately estimate the additional yield that would immediately arise from the recruitment of 180 audit staff. Revenue has also advised me that it undertakes a range of risk...

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

Paschal Donohoe: I am advised by the Revenue Commissioners that there are currently 65,946 businesses registered for a Customs EORI number. The Revenue Commissioners noted that 92.7% of the value of imports from the UK in 2019 and 95.8% of the value of exports to the UK in 2019 was carried out by businesses who now have an EORI number. In relation to businesses who trade with the UK, the Revenue Commissioners...

Written Answers — Department of Finance: Brexit Issues (20 May 2020)

Paschal Donohoe: The Stability Programme Update sets out the latest macroeconomic and fiscal outlook, taking into account the impact of COVID-19. The Irish economy is expected to contract by 10.5 per cent this year. Economic activity will gradually recover in the second half of the year, picking up momentum with growth of 6 per cent next year. In relation to Brexit, this is based on the assumption of a...

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...