Results 11,841-11,860 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Banking Sector (13 May 2020)

Paschal Donohoe: The SBCI made early repayments of its loan to KFW in May and December 2018. There were no penalties, however, KFW are entitled to charge reimbursement costs for processing the early repayment but none were charged. A flat administration fee of €2,500 was charged.

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (13 May 2020)

Paschal Donohoe: Ernst and Young (EY) was appointed to undertake the external review of the SBCI following a competitive tender process. A request for tender was published on 08/01/2019 on eTenders, the Irish Government’s electronic tendering platform, inviting tenderers to submit a tender for the provision of these services. EY was the successful tenderer following a robust tender process which...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (13 May 2020)

Paschal Donohoe: The SBCI Board made the decision to appoint Deloitte in the event that a second auditor was required, pending legal advice on whether the Comptroller & Auditor General could perform the role of statutory auditor. Following receipt of legal advice, a second auditor was deemed unnecessary and Deloitte were not appointed

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (13 May 2020)

Paschal Donohoe: The SBCI does not lend directly to SMEs. The SBCI’s borrower is the approved financial provider(s) who in turn lend directly to SMEs. On that basis the SBCI obtains quarterly information for monitoring purposes on the on-lenders and does not receive information containing any aged debtor analysis on the SMEs.

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (13 May 2020)

Paschal Donohoe: The SBCI does not charge penalties and its facility agreements do not provide for these. If an on-lender wished to repay all or part of a facility, it is SBCI’s practice to agree a payment date with such on-lender as well as agreeing the amount of interest, principal and break-cost funding payable on the prepayment date agreed.

Written Answers — Department of Finance: Help-To-Buy Scheme (13 May 2020)

Paschal Donohoe: The Help-to-Buy incentive, introduced with effect from 1 January 2017, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes...

Written Answers — Department of Finance: Tax Credits (13 May 2020)

Paschal Donohoe: I am advised by Revenue that the number of individuals earning above the €100,000 threshold, where credits would begin to taper as outlined by the Deputy, can be found in the ‘Individualised Gross Incomes’ document published on Revenue’s website at the following link: . 2017 is the most recent tax year for which data are currently available. As this document shows,...

Written Answers — Department of Finance: Electric Vehicles (13 May 2020)

Paschal Donohoe: In Finance Act 2017, I introduced an exemption from benefit-in-kind for employer-provided electric vehicles (cars and vans). An electric vehicle is one that derives its motive power exclusively from an electric motor. As such, hybrid vehicles do not qualify for this treatment. The benefit-in-kind exemption applied in respect of an electric car or electric van made available for an...

Written Answers — Department of Finance: Land Issues (13 May 2020)

Paschal Donohoe: Section 664 of the Taxes Consolidation Act 1997 provides for an income tax exemption for certain income arising from the leasing of farm land. This relief was introduced in Finance Act 1985 to encourage landowners to lease out land on a long-term basis to active farmers, thereby encouraging more productive use of the land. Subject to an upper limit, individuals who qualify for the relief are...

Written Answers — Department of Finance: Fuel Prices (13 May 2020)

Paschal Donohoe: Ireland relies on importing fuel to meet its energy needs and this leaves the Irish economy particularly exposed to the uncertainty of international oil price movements. However, as an energy importer Ireland has benefitted from the steep fall in oil prices since 2014, from approximately $100 in 2014 to $64 in 2019. Nonetheless, in recent months, there has been considerable volatility in...

Written Answers — Department of Finance: State Banking Sector (13 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 61 and 68 together. As the Deputy will know, we are now in the midst of a severe recession, both globally and domestically. Jobs and our people, have borne the brunt of the unprecedented economic decline. But we can and we will recover. Our economy can grow again next year, employment can grow, unemployment can fall, and our public finances can improve. This...

Written Answers — Department of Finance: State Banking Sector (13 May 2020)

Paschal Donohoe: The information requested by the Deputy is set out in the following table. AIB AIB Bank of Ireland Bank of Ireland PTSB PTSB Date Share Price Value of Shareholding €M (c. 71% of total shares following IPO) Share Price Value of Shareholding €M (C. 14% of total shares) ...

Written Answers — Department of Finance: State Banking Sector (13 May 2020)

Paschal Donohoe: The annual 2019 results for AIB and Bank of Ireland which were announced in March showed two profitable banks that were supporting our economic growth with strong and sustainable lending. Both banks made additional large strides in reducing NPEs further last year and continuing on their paths of digital transformation. However, as the Deputy will be aware, the economic landscape has since...

Written Answers — Department of Finance: Public Procurement Contracts (13 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 64 and 65 together. As the Deputy is aware, European Union law sets out minimum harmonised public procurement rules. These rules govern the way public authorities and certain utility operators purchase goods, works and services. The rules are set out in three principal EU Directives which are transposed into national legislation and apply to tenders for public...

Written Answers — Department of Finance: Public Procurement Contracts (13 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 66 and 67 together. Details of payments for valid supplier invoices processed by my Department and the bodies under its aegis during 2019; after 30 days of receipt, and 90 days of receipt, are contained in the following tables (the various tables have been compiled based on the accounts as at the time the PQ was first received). It should also be noted that...

Written Answers — Department of Finance: Tax Reliefs Eligibility (13 May 2020)

Paschal Donohoe: Section 469 of the Taxes Consolidation Act 1997 provides for tax relief in respect of qualifying expenses incurred in the provision of health care in a tax year. Examples of qualifying expenses include GP fees, prescribed medicines, non-routine dental and optical care and nursing home fees. Detailed guidance on health expenses is available on Revenue’s website at the following link:...

Written Answers — Department of Finance: Tax Code (13 May 2020)

Paschal Donohoe: As the Deputy is probably aware, the National Asset Management Agency Act 2009 amended the Taxes Consolidation Act 1997 by providing for an 80% windfall tax on profits or gains arising from disposals of development land, to the extent that those gains were attributable to a relevant planning decision. Profits or gains from these activities that were not attributable to a relevant planning...

Written Answers — Department of Finance: Tax Code (13 May 2020)

Paschal Donohoe: I am advised by Revenue that it was informed by the Department of Employment Affairs and Social Protection (DEASP) that the person’s State Contributory Pension payment increased by €5 per week with effect from 6 January 2020. In situations where a person has both a private pension and a State Contributory Pension from DEASP, the tax due on the latter (DEASP payment) is...

Written Answers — Department of Finance: Financial Services Regulation (13 May 2020)

Paschal Donohoe: As the Deputy will be aware, regulated entities have introduced three-month payment moratoria on mortgages, and personal and business loans for business and personal customers affected by COVID-19. Regulated entities will now make available a further three-month extension to the current payment moratoria to customers that continue to be directly impacted by the fallout from the Covid-19...

Written Answers — Department of Finance: Insurance Coverage (13 May 2020)

Paschal Donohoe: Let me say at the outset that I am very aware of the affordability and availability of insurance cover issues facing local community groups and projects, such as the one outlined in the Deputy’s question. I have much sympathy for the position such groups find themselves in, however as the Deputy is aware, there are significant constraints on what the Government can do to immediately...