Results 101-120 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Pension Provisions (29 Apr 2025)

Paschal Donohoe: It is a general principle of taxation that all income, from whatever source, is income for tax purposes and this includes amounts paid to an individual by the Department of Social Protection (DSP), unless specifically exempted by legislation. Section 19 of the Taxes Consolidation Act 1997 (TCA 1997) provides that income from offices or employments, and from annuities, pensions, or...

Written Answers — Department of Finance: Tax Reliefs (29 Apr 2025)

Paschal Donohoe: I have been informed by Revenue that the information furnished on tax returns does not require advertising and marketing expenses to be separately identified. As such, Revenue does not have any data from which to provide an estimate of the cost of such reliefs claimed by alcoholic beverage manufacturing companies.

Written Answers — Department of Finance: Departmental Schemes (29 Apr 2025)

Paschal Donohoe: The Help to Buy (HTB) scheme is an incentive to assist first-time purchasers with the deposit they require to buy or build a new house or apartment. The scheme gives a refund of Income Tax and Deposit Interest Retention Tax paid in Ireland over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act 1997 outlines the definitions and...

Written Answers — Department of Finance: Departmental Inquiries (29 Apr 2025)

Paschal Donohoe: Ireland enjoys a deep and wide-ranging bilateral relationship with Japan, owing from cultural and people-to-people ties, our economic and trade relationship, and our cooperation on global affairs across an array of fora and channels including the G20 and the OECD. Since my re-appointment as Minister for Finance in January of this year, I have not yet had the opportunity for direct formal...

Written Answers — Department of Finance: Departmental Inquiries (29 Apr 2025)

Paschal Donohoe: ‘Foundations for the Future’, the Report of the Commission on Taxation and Welfare, was published in September 2022. The report is wide-ranging and contains 116 recommendations relating to the future of Ireland’s taxation and welfare systems. In its terms of reference, the Commission was asked to independently consider how best the taxation and welfare systems can...

Written Answers — Department of Finance: Departmental Policies (29 Apr 2025)

Paschal Donohoe: As stated in my reply to PQ 21060/25, which issued on 25 February 2025, the Programme for Government 2025 commits to introducing a new, all-of-government national housing plan to follow Housing for All. Any proposals for new measures will be considered in this context. Noting that as my colleague, the Minister for Housing, Local Government and Heritage, James Browne TD has responsibility...

Written Answers — Department of Finance: Climate Action Plan (29 Apr 2025)

Paschal Donohoe: All liquid fuels, including biofuels such as hydrotreated/hydrogenated vegetable oil (HVO), are subject to Value-Added Tax (VAT), and to excise duty in the form of Mineral Oil Tax (MOT). It should be noted that in order to incentivise the uptake of more sustainable and renewable fuels the legal frameworks for Mineral Oil Tax provide that biofuels, such as HVO, are relieved from carbon...

Written Answers — Department of Finance: Tax Data (29 Apr 2025)

Paschal Donohoe: I am informed by Revenue that income tax liability is calculated on taxpayers’ total income from all sources, rather than being separately calculated for each source of income (such as rental income) and having regard to any relevant reliefs or credits. For this reason, it is not possible to identify tax paid arising from rental income alone. However, the Deputy may be interested to...

Written Answers — Department of Finance: Tax Data (29 Apr 2025)

Paschal Donohoe: I am advised by Revenue that the available information in relation to the yield from Stamp Duty on Shares for the years 2020 to 2023 is published on the Revenue website at: . The table below provides the yield from Stamp Duty on Shares from 2020 to 2024. Year Stamp Duty on Shares €m 2024 494.76 2023 784.91 ...

Written Answers — Department of Finance: Tax Reliefs (29 Apr 2025)

Paschal Donohoe: Revised Entrepreneur Relief is provided for in Section 597AA of the Taxes Consolidation Act 1997. It provides that a reduced rate of 10% of Capital Gains Tax (CGT) applies in respect of a chargeable gain or chargeable gains on a disposal or disposals of qualifying business assets by an individual up to a lifetime limit of €1 million. Any chargeable gain in excess of the €1...

Written Answers — Department of Finance: Tax Data (29 Apr 2025)

Paschal Donohoe: Deposit Interest Retention Tax (DIRT) is a tax deducted by Irish financial institutions from deposit interest paid or credited to the accounts of Irish residents. DIRT is deducted at a rate of 33% from the total interest paid on all deposit accounts held by Irish-resident individuals. I am informed by Revenue that the statistical information in respect of DIRT receipts on an annual basis is...

Written Answers — Department of Finance: Departmental Data (29 Apr 2025)

Paschal Donohoe: The table below shows deposits from households held with Irish resident Credit Institutions (including credit unions) at the year end for 2020 -2024 and at end-February 2025. Year Month € millions 2020 Dec 129,171 2021 Dec 140,867 2022 Dec 148,577 ...

Written Answers — Department of Finance: Revenue Commissioners (29 Apr 2025)

Paschal Donohoe: I am advised that Revenue is committed to targeting the illegal importation and exportation of prohibited and restricted goods and implements a range of measures to identify and target illegal smuggling, including duty free tobacco and alcohol in excess of duty-free allowances, and where possible, prosecuting those involved. Revenue’s approach involves the use of analytics and...

Written Answers — Department of Finance: Tax Data (29 Apr 2025)

Paschal Donohoe: There are a range of collective investment vehicles within the investments funds sector. Irish collective investment vehicles (investment funds), which are authorised and regulated by the Central Bank of Ireland, generally operate under what is known as the “Gross Roll-Up” regime. This means that monies invested in such funds can grow on a tax-free basis within the fund....

Written Answers — Department of Finance: Departmental Policies (10 Apr 2025)

Paschal Donohoe: I propose to take Questions Nos. 158 and 159 together. Vehicle Registration Tax (VRT) reliefs for hybrid and plug-in hybrid vehicles expired on 31 December 2020. VRT category A and B vehicles which are powered only by an electric motor and registered before 31 December 2025 are eligible for relief from VRT up to a maximum amount of €5,000. Vehicles with an Open Market Selling...

Written Answers — Department of Finance: Departmental Policies (10 Apr 2025)

Paschal Donohoe: Let me begin by saying that we deeply regret the imposition of tariffs by the US administration. Tariffs are economically destructive; they drive up the cost of doing business, put upward pressure on prices for consumers, all the while creating uncertainty for investment and future growth. Regarding the specific measures announced on April 2nd, it is important to note that there remains...

Written Answers — Department of Finance: Departmental Policies (10 Apr 2025)

Paschal Donohoe: I propose to take Questions Nos. 161 and 162 together. The Standard Capital Superannuation Benefit (SCSB) is a relief from income tax arising from a lump sum payment connected with the termination of an employment. SCSB is computed at 1/15th of a taxpayer’s average annual pay for the last 36 months in employment. Annual pay in this regard means pay from the employer and does not...

Written Answers — Department of Finance: Departmental Policies (10 Apr 2025)

Paschal Donohoe: Finance Act 2000 introduced the gross roll-up taxation regime for investments in domestic funds and life policies. The general thrust of the regime is that there is no annual tax on income or gains arising within the investment. However, exit tax must be deducted on the occurrence of a “chargeable event”, which originally included – - the making of relevant payments,...

Written Answers — Department of Finance: Health Services (10 Apr 2025)

Paschal Donohoe: My Department, the Department of Health and Revenue have, for some time, been aware of issues which arose from contractual arrangements within the General Practitioner (GP) community whereby some GPs treat income under their General Medical Services (GMS) contract as income of a GP practice in which they are a partner or an employee, rather than income of that individual GP. In accordance...

Written Answers — Department of Finance: Seirbhísí trí Ghaeilge (10 Apr 2025)

Paschal Donohoe: Mar is eol don Teachta, forálann Acht na dTeangacha Oifigiúla, 2003 agus 2021 socrú chun seirbhísí poiblí trí mheán na Gaeilge a sholáthar ag comhlachtaí a fhorordaítear faoin gCéad Sceideal den Acht sin. Déantar é seo trí mheicníochtaí éagsúla, le haird ar leith á tabhairt ar cheantair...