Results 101-120 of 33,833 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Data (25 Sep 2025)

Paschal Donohoe: I am advised by Revenue that traders are not required to identify the VAT yield generated from the supply of specific goods and services on their VAT returns. Therefore, it is not possible to provide estimates of VAT reductions on the hospitality sector based on tax returns alone. However, using third-party, a tentative estimate of the cost to the Exchequer of the first and full year costs...

Written Answers — Department of Finance: Tax Code (25 Sep 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a beneficiary-based tax on gifts and inheritances that is payable on the value of the property received. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does...

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: I will come in on that. As all of the forecasting we do is very much at a macroeconomic level, it would not take account of matters such as that, even given their scale. It is a fair point that it is something we should consider. All of our forecasting is done at a national level. At times, we find it difficult to take into account sectoral-specific developments, even if those sectoral...

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: I thank the Deputy. I will kick off with one element of the resilience. We aim to run budget surpluses and then deposit those surpluses into the Future Ireland Fund and the climate, nature and restoration fund. Those two funds, by the end of this year, will be somewhere between €15 billion to €16 billion. The Minister, Deputy Chambers, and I aim to add to that in next year's...

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: Our efforts to broaden the tax base do not get the profile they merit. We revalued local property tax. It is the second time it has been revalued. Many jurisdictions struggle with one revaluation and we have done two. We have broadened the number of homes that are paying it. The price brackets for evaluating LPT are now a bit more appropriate and realistic for the property market. Every...

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: From our point of view, it is about ensuring that our debt as a share of national income continues to fall, which it is. It will be 65.3% for 2025, which is a big decrease on previous years.

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: We have not yet made any decision on any individual tax matters. We will indicate our tax decisions on budget today. Always in our tax code we give support to the housing market. We do that at the moment through help to buy. We will make further decisions on our tax package, which we will communicate on budget day.

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: I do not think it is helpful to pick out any one part of the different needs we have to consider or which have a particular focus for me. I am looking at an array of different matters. At many opportunities in the past, I have indicated the concerns I had regarding some incentives we had in place in our property market and the long-term effect of that. I still have that view. At the same...

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: I am going to be consistent in what I say. We are considering all matters with regard to taxation at present and I am going to be consistent in the answer that I gave the Deputy in his earlier questions in saying we have made no decisions. I am sceptical regarding the claim that has been made that refundable tax credits can have the kind of effect that it is claimed with regard to the lower...

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: The working family payment has been a very effective payment we have used in the past to support those who are on lower income, as well as the gradual changes we have made in a number of years with regard to USC and the introduction into the higher rate of income tax. These have been measures that have helped ensure those on a lower level of income are not paying a higher rate of income tax...

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: We are considering that at present but there is a meeting taking place, even as we speak, in the OECD regarding the future of that process and what it will mean for international tax co-operation. We are considering what that means for our current corporate tax forecast and we will conclude that work in advance of the White Paper, which we will publish next Friday.

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: It is €3.3 billion that is the annual cost of servicing our national debt and I am aware of that issue on the VAT registration threshold. I will stand to be corrected by the Deputy but I do think it was changed once in recent years but that is it. The cost of changing it is more considerable than you might think but I am aware of it and it is an issue that has been brought up with me...

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: Around €6 billion.

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: Most of the budgets I have done and the budget that the Minister, Deputy Chambers, did last year included indexation.

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: For this budget, though, there are many different competing demands on the tax end. I am not going beyond the €1.5 billion laid out in the summer economic statement. In addition to some of the other demands and needs of which we are aware, we have a number of tax credits that need to be extended. Otherwise, they will come to a very sudden end. All of that has a considerable cost....

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: The Department of Finance recently published Ireland 2040, which aimed to do that from a demographic point of view. Later in the year, we will publish that work that looks at long-term budget planning and economic planning within our country. Nevertheless, the ability to do that, given the number of shocks we have faced in recent years, is not as great as some people think.

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: I am answering the questions, though.

Committee on Budgetary Oversight: Pre-Budget 2026 Engagement (Resumed) (24 Sep 2025)

Paschal Donohoe: A few weeks ago I met the Limerick Chamber of Commerce, as the Minister, Deputy Chambers, did. They raised many of these issues with us. A large part of our answer to that would be is the national development plan that the Minister has outlined here this evening. From a taxation perspective, I am considering measures that will respond to some of the issues that those employers are raising...

Written Answers — Department of Finance: Tax Code (24 Sep 2025)

Paschal Donohoe: The VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law is obliged to comply. Under Irish VAT legislation, professional medical care services supplied by recognised medical professionals who are registered on a statutory register in the State are generally exempt from VAT. The Department of Health is responsible for the...

Written Answers — Department of Finance: Tax Reliefs (24 Sep 2025)

Paschal Donohoe: Section 469 of the Taxes Consolidation Act ("TCA") 1997 provides for Income Tax relief where an individual proves that they have incurred costs in respect of qualifying health expenses. Only “health expenses” incurred in the provision of “health care”, which have been carried out or advised by a practitioner, will qualify for tax relief. Broadly, health care...