Results 101-120 of 33,086 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (24 Jun 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...

Written Answers — Department of Finance: Financial Services (24 Jun 2025)

Paschal Donohoe: The Credit Reporting Act 2013 (the Act) provided for the establishment of a Central Credit Register (CCR) by the Central Bank. Under the Act, lenders are obliged to submit information to the CCR on outstanding and new loans of €500 or more. Lenders are obliged to submit information to the CCR that is accurate, complete and up to date. When a loan has been closed by a lender, the...

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

Paschal Donohoe: I am advised by Revenue that 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. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within certain listed categories to which Member States may apply a lower rate. Sunscreens and...

Written Answers — Department of Finance: Tax Code (19 Jun 2025)

Paschal Donohoe: It is not appropriate for the Minister for Finance to comment on the tax affairs of individual businesses. The monitoring of compliance with tax obligations is a matter for Revenue, and extensive powers have been granted in legislation to facilitate this process. Further information in this regard can be found on the Revenue website, including in the Revenue Code of Practice for...

Written Answers — Department of Finance: Fiscal Policy (19 Jun 2025)

Paschal Donohoe: I note the Deputy’s query on employee ownership trusts in Ireland. It will be of interest to the Deputy that last year an independent review of share-based remuneration, carried out by Indecon International Consultants on behalf of my Department, was published. The review is available on the Department website at: www.gov.ie/pdf/?file=. This review made a number of recommendations,...

Written Answers — Department of Finance: Tax Data (19 Jun 2025)

Paschal Donohoe: Minimum unit alcohol pricing was introduced by the Department of Health as a public health measure designed to influence retail pricing strategies. As minimum unit alcohol pricing applies exclusively at the final stage of the supply chain (i.e. retail), any additional revenue realised by alcohol companies as a result of this policy is not captured in the data provided to Revenue. Alcohol...

Written Answers — Department of Finance: Tax Code (19 Jun 2025)

Paschal Donohoe: In November 2022 the Court of Justice of the European Union ruled, in Joined Cases C-37/20 and C-601/20, that a provision of the EU AML Directive 2015/849 which was amended by the EU AML Directive 2018/843 under which information on the beneficial ownership of corporate and other legal entities, held in central registers, must be provided to the general public, is invalid. Specifically, the...

Written Answers — Department of Finance: Tax Code (19 Jun 2025)

Paschal Donohoe: The Help to Buy (HTB) incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. An increase in the supply of new housing remains a central and priority aim of Government policy. For this reason, HTB is specifically designed to encourage an increase in demand for new build homes in order to support the construction of an...

Written Answers — Department of Finance: Tax Code (19 Jun 2025)

Paschal Donohoe: The Home Tuition Grant Scheme is operated by the Department of Education and Youth and the conditions of the scheme have been set by the Department, including the setting of teaching hours to be covered by the grant scheme, as well as that parents or guardians must source a qualified tutor who is registered with the Teaching Council of Ireland for the duration of the approved tuition. ...

Written Answers — Department of Finance: Illicit Trade (19 Jun 2025)

Paschal Donohoe: In relation to drug smuggling, I am advised that Revenue has primary responsibility for the prevention, detection, interception, and seizure of controlled drugs intended to be smuggled or illegally imported into, or exported from, the State. Revenue’s drugs interdiction strategy supports the Government’s strategic approach to the misuse of drugs under the National Drugs Strategy...

Written Answers — Department of Finance: Illicit Trade (19 Jun 2025)

Paschal Donohoe: I am advised by Revenue that it currently has two Customs cutters (patrol vessels) in service – RCC Suirbhéir and RCC Faire. Following a procurement process, a contract for the delivery of a new Revenue Customs cutter was signed with AuxNaval in August 2023 and a new cutter is expected to come into service later in 2025. This cutter will replace RCC Suirbhéir, which has...

Written Answers — Department of Finance: Tax Code (19 Jun 2025)

Paschal Donohoe: I am advised by Revenue that VAT is subject to the requirements of the EU VAT Directive with which Irish VAT law is obliged to comply. Irish VAT legislation, in compliance with EU VAT law provides that taxable persons who are receiving services from outside the State, in the course of their business, are accountable and liable to pay VAT on?the reverse charge basis. This provision applies to...

Written Answers — Department of Finance: Fiscal Policy (19 Jun 2025)

Paschal Donohoe: Revenue is a fully integrated tax and customs administration, with approximately 2,000 of its staff engaged in activities that are focused on targeting and confronting non-compliance. For effective operational management, Revenue allocate resources to different aspects of enforcement and compliance work and these resources are adjusted and realigned in response to changes in the level of risk...

Written Answers — Department of Finance: Tax Credits (19 Jun 2025)

Paschal Donohoe: As the Deputy will be aware, the Programme for Government, Securing Ireland’s Future, includes a commitment to “consider measures, in conjunction with the Department of Finance, to encourage gym membership and active participation in sport and exercise.” Officials in my Department will consider the matter over the coming weeks with the expectation that an update of the...

Written Answers — Department of Finance: Fiscal Policy (19 Jun 2025)

Paschal Donohoe: I propose to take Questions Nos. 240 and 242 together. The Consumer Protection (Regulation of Credit Servicing Firms) Act 2015 (the 2015 Act) and the Consumer Protection (Regulation of Credit Servicing Firms) Act 2018 (the 2018 Act) applies to the activity of credit servicing in relation to relevant credit agreements. The Consumer Protection (Regulation of Retail Credit and Credit...

Written Answers — Department of Finance: Tax Code (19 Jun 2025)

Paschal Donohoe: Finance Act 2016 made certain changes to the taxation of qualifying companies, within the meaning of section 110 Taxes Consolidation Act 1997 (“TCA 1997”). The changes, which included the introduction of a new subsection (5A) in section 110, relate to the taxation of profits derived from the business of qualifying companies that involves the holding, managing or both the holding...

Written Answers — Department of Finance: Tax Code (19 Jun 2025)

Paschal Donohoe: Section 126 of the Taxes Consolidation Act 1997 provides for the taxation of certain payments from the Department of Social Protection (DSP). Such payments are liable to Income Tax, although they are not subject to the Universal Social Charge (USC) or Pay Related Social Insurance (PRSI). This taxation treatment applies to long-term DSP payments, such as the State Pension, shorter-term...

Written Answers — Department of Finance: Tax Credits (19 Jun 2025)

Paschal Donohoe: Section 1025 of the Taxes Consolidation Act (“TCA”) 1997 provides that there is no tax relief available for the paying spouse in respect of child maintenance payments. Maintenance payments in respect of children are also not taxable in the hands of the children or the receiving spouse. Section 1031J TCA 1997 provides for similar tax treatment in respect of maintenance...

Written Answers — Department of Finance: Fiscal Policy (19 Jun 2025)

Paschal Donohoe: In accordance with the Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024, interim investment strategies have been adopted for both the Future Ireland Fund and the Infrastructure, Climate and Nature Fund. These strategies restrict investments to the following permitted assets: Permitted Assets Euro denominated assets, limited to: (i) ...

Written Answers — Department of Finance: Departmental Staff (19 Jun 2025)

Paschal Donohoe: I wish to inform the Deputy that the pattern and number of days working from home and in the office is agreed at a local level and can vary from week to week depending on business needs. Blended working is available to most staff, except for a small number in roles that are customer facing where office attendance is necessary to undertake the duties of the role. In line with my Department's...