Results 11,941-11,960 of 33,214 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (14 Jul 2020)

Paschal Donohoe: As previously advised to the Deputy in Parliamentary Question Nos. 63 of 30 June 2020 and 168 of 7 July 2020, under the Temporary Wage Subsidy Scheme (TWSS) the amount of subsidy payable to eligible employees is based on their ‘average revenue net weekly pay’ (ARNWP) for January and February 2020, as returned by the employer to Revenue through the real-time PAYE system. The...

Written Answers — Department of Finance: Insurance Industry Regulation (14 Jul 2020)

Paschal Donohoe: At the outset, it is important to note that I am very much aware of the problems faced by many businesses and consumers in relation to the cost and availability of insurance. I also acknowledge the need to continue with the reform agenda and this is recognised in the Programme for Government's cross-Departmental insurance agenda. In terms of insurance regulatory reform, I believe much...

Written Answers — Department of Finance: Ministerial Responsibilities (14 Jul 2020)

Paschal Donohoe: No formal Delegation of Ministerial Functions Orders have been signed. This position is kept under review in light of the requirements of the role.

Written Answers — Department of Finance: Covid-19 Pandemic Supports (14 Jul 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) is a measure designed to maintain employment during the public health restrictions necessitated by the COVID-19 pandemic. To date, the scheme has provided in excess of €1.9 billion in support to almost 59,000 employers in respect of some 568,000 employees. There are approximately 410,000 employees currently receiving support through the scheme....

Written Answers — Department of Finance: Banking Licences (14 Jul 2020)

Paschal Donohoe: The Central Bank has provided tabular details of the number of applications received for banking licences for the period 2015 to date. It should be noted that the table does not include assessments in relation to material expansions of activities by existing banking licence holders, which were undertaken in the context of Brexit, as these did not constitute new licences. The following are the...

Written Answers — Department of Finance: Banking Licences (14 Jul 2020)

Paschal Donohoe: The Central Bank has provided tabular details of the number of new banking licences issued for the period 2015 to date. It should be noted that the table does not include assessments in relation to material expansions of activities by existing banking licence holders, which were undertaken in the context of Brexit, as these did not constitute new licences. Year Number of...

Written Answers — Department of Finance: Financial Services Sector (14 Jul 2020)

Paschal Donohoe: The Ireland for Finance strategy was launched by the former Minister of State for Financial Services and Insurance, Michael D’Arcy TD, and myself in April 2019. The launch was held in Iveagh House, and it was attended by a large number of executives and financial sector leaders from across the industry. A number of guests travelled from many different locations abroad for the launch....

Written Answers — Department of Finance: Covid-19 Pandemic Supports (14 Jul 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) was legislated for in section 28 of the recently enacted Emergency Measures in the Public Interest (Covid-19) Act 2020. I am advised by Revenue that in computing the employer’s liability to income tax or corporation tax, as the case may be, the employer is not entitled to a deduction in respect of TWSS payments paid to an eligible...

Written Answers — Department of Finance: Value Added Tax (14 Jul 2020)

Paschal Donohoe: I am advised by Revenue that the VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. In general, the reduced rate of VAT (13.5%) currently applies to accommodation, certain recreational activities and supplies of food and drink in restaurants, excluding alcohol and soft drinks. Under EU VAT law, Member States may only have...

Written Answers — Department of Finance: Value Added Tax (14 Jul 2020)

Paschal Donohoe: I am advised by Revenue that VAT registered traders are not required to separately identify the VAT generated from a particular activity or product type on their VAT returns. However, using Revenue and other third-party data, an estimate of the VAT generated at the standard rate (currently 23%) for the years 2012 to 2019 is provided below. Year Yield Standard Rate (23%)...

Written Answers — Department of Finance: Tax Code (14 Jul 2020)

Paschal Donohoe: I am advised by Revenue that the receipts generated by Excise Duty on alcohols for the years 2012 to 2018 are published on the Revenue website at link: www.revenue.ie/en/corporate/documents/statistics/excise/net- receipts-by-commodity.pdf. The Excise Duty receipts on alcohol for 2019 amounted to €1,233 million. In relation to the issue of the rate of alcohol excise duty, as the Deputy...

Written Answers — Department of Finance: Value Added Tax (14 Jul 2020)

Paschal Donohoe: 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 (including personal protective equipment) 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 bodies and other...

Written Answers — Department of Finance: Value Added Tax (14 Jul 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 our people can get back to work as quickly and...

Written Answers — Department of Finance: Value Added Tax (14 Jul 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 our people can get back to work as quickly and...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (14 Jul 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) builds on data returned to Revenue through its real-time PAYE system. The core principles of the scheme are that – - the business is suffering significant negative economic impact due to the pandemic; - the employees were on the payroll at 29 February 2020; and, - the employer had fulfilled its PAYE reporting obligations for February 2020,...

Written Answers — Department of Finance: State Bodies (14 Jul 2020)

Paschal Donohoe: Firstly, I must point out that the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of his statutory functions. I have no role in the day to day workings of the office or in the decisions which he takes. The FSPO has advised me that the number of vacancies at 3 July 2020 and the estimated full year costs are as follows: Grade Number of...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (14 Jul 2020)

Paschal Donohoe: The Government’s priority in so far as the Temporary Wages Subsidy Scheme (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. The ambition of the scheme is to ensure the relationship between employers and employees is maintained to the greatest extent...

Written Answers — Department of Finance: Tax Credits (14 Jul 2020)

Paschal Donohoe: Section 114 of the Taxes Consolidation Act 1997 (TCA) allows an employee or office holder to claim a deduction for expenses incurred by him or her wholly, exclusively andnecessarily in the performance of the duties of his or her employment or office. This may include expenses incurred on digital technology, if all elements of the requirement are met. Furthermore, an employer may provide...

Written Answers — Department of Finance: Credit Unions (14 Jul 2020)

Paschal Donohoe: The Government welcomes the important work credit unions are doing to support communities throughout Ireland at this difficult time and recognises the key role that credit unions play in the delivery of financial services in local communities across Ireland, the need for which is heightened at this time. Credit unions account for approximately one third of the consumer credit market and are...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (14 Jul 2020)

Paschal Donohoe: Payments made under the Pandemic Unemployment Payment (PUP) scheme are income supports 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 under the PUP scheme are subject to income tax. However, following the general taxation rule for social welfare...