Results 12,001-12,020 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (5 Mar 2020)

Paschal Donohoe: The flat rate expense (FRE) regime is operated by Revenue on an administrative basis where both a specific commonality of expenditure exists across an employment category and the statutory requirement for the tax deduction as set out in section 114 of the Taxes Consolidation Act (TCA) 1997 is satisfied, namely, that the expenses are wholly, exclusively and necessarily incurred in the...

Written Answers — Department of Finance: Tax Collection (5 Mar 2020)

Paschal Donohoe: Revenue has confirmed to me that the person in question filed his 2019 Income Tax return (Form 11) via the Revenue Online System (ROS) on 25 February 2020. Revenue has also confirmed that a Notice of Assessment issued to the person on 26 February and the associated tax refund issued by cheque on 28 February 2020.

Written Answers — Department of Finance: Property Tax Review (5 Mar 2020)

Paschal Donohoe: The review of the Local Property Tax was completed by the Department of Finance in conjunction with the Departments of the Taoiseach, Public Expenditure & Reform and Housing, Planning & Local Government and the Revenue Commissioners and the report was published in April last year and is available on the Department of Finance website. In accordance with its terms of...

Written Answers — Department of Finance: Pension Levy (5 Mar 2020)

Paschal Donohoe: It is assumed the Deputy is referring to the stamp duty levy on pension funds, i.e. the pension levy, which was in operation from 2011 to 2015. I am advised by Revenue that a table showing stamp duty receipts, including the levy on pension funds, for the relevant years, is available on the Revenue website at the link: www.revenue.ie/en/corporate/documents/statistics/receipts/st...

Written Answers — Department of Finance: Tax Code (5 Mar 2020)

Paschal Donohoe: In situations where a couple is cohabiting, rather than married or in a civil partnership, each partner is treated for the purposes of income tax as a separate and unconnected individual. Because they are treated separately for tax purposes, credits, tax bands and reliefs cannot be transferred from one partner to the other.   The basis for the current tax treatment of married couples...

Written Answers — Department of Finance: Pension Levy (5 Mar 2020)

Paschal Donohoe: I propose to take Questions Nos. 93 and 105 together. The pension fund levy was introduced in 2011 in the wake of the financial crash and at a time when the economy was in serious difficulties. Urgent action needed to be taken to preserve and boost jobs and it is an unavoidable fact that difficult economic situations require hard and very often unpopular decisions. All sectors of the...

Written Answers — Department of Finance: Tax Code (5 Mar 2020)

Paschal Donohoe: The tax treatment of certain benefits payable under the Social Welfare Acts is dealt with under section 126 of the Taxes Consolidation Act of 1997. The Living Alone Allowance is an extra payment made to individuals who are 66 years of age or over, and are in receipt of any of the following Social Welfare payments: - the State Pension (Contributory); - the State Pension...

Written Answers — Department of Finance: Ministerial Meetings (5 Mar 2020)

Paschal Donohoe: As the Deputy may be aware I met with Ms Georgieva during my visit to Washington, D.C. last October to attend the Annual Meetings of the IMF-World Bank. During our short meeting, I invited the new Managing Director to visit Ireland and subsequently confirmed the invitation in writing on my return to Dublin. Ms Georgieva’s response is awaited and while no formal agenda has yet...

Written Answers — Department of Finance: Tax Code (5 Mar 2020)

Paschal Donohoe: It is assumed that the Deputy’s request is to increase the standard rate cut off point (SRCO) for the major earner of a jointly assessed unit (couple) with two incomes (currently €44,300) while also increasing the SRCO for both singly assessed taxpayers (currently €35,300), and jointly assessed taxpayer units with one income (currently €44,300). It is further...

Written Answers — Department of Finance: Property Tax Exemptions (5 Mar 2020)

Paschal Donohoe: The Finance (Local Property Tax) Act 2012 (as amended) provides for a limited number of exemptions from LPT, none of which operate on a temporary basis.  It does not provide any exemption for properties liable to, or having actually suffered, flooding. Limiting the exemptions available has kept the tax base as broad as possible and has allowed the rate to be kept low for those liable...

Written Answers — Department of Finance: Vehicle Registration (5 Mar 2020)

Paschal Donohoe: In my Budget statement on 8 October I announced, in support of climate and public health policy, that I would be replacing the 1 per cent VRT diesel surcharge with a nitrogen oxide (NOx) emissions-based charge that would apply to all passenger cars registering for the first time in the State from 1 January 2020.  The Finance Act 2019, section 50 subsequently introduced this additional...

Written Answers — Department of Finance: Insurance Coverage (5 Mar 2020)

Paschal Donohoe: My officials have recently been in touch with Insurance Ireland to get an update on the number of property claims they have received as a result of the recent storms.  In response, Insurance Ireland has indicated that there has not been a large increase in the number of calls to their Consumer Insurance Information Service helpline. Therefore, Insurance Ireland's initial view...

Written Answers — Department of Finance: Coronavirus Outbreak (5 Mar 2020)

Paschal Donohoe: Exports from Ireland under 'contract manufacturing' arrangements account for approximately one-third of Irish exports, amounting to just over €68 billion in 2018 (latest available full-year data). Contract manufacturing is a form of outsourcing whereby an Irish-resident firm engages a company abroad to manufacture goods on its behalf (and vice versa). Despite having no actual...

Written Answers — Department of Finance: Coronavirus Outbreak (5 Mar 2020)

Paschal Donohoe: At the outset, it must be stressed that it is difficult to quantify the global and domestic economic impacts of the Covid19 outbreak at this stage. This is because the impact will depend on several factors, not least the duration of the epidemic as well as the containment measures put in place to limit its spread. These are simply impossible to estimate and, accordingly, it is extremely...

Written Answers — Department of Finance: Insurance Compensation Fund (5 Mar 2020)

Paschal Donohoe: Setanta Insurance ("Setanta") was placed into liquidation by the Malta Financial Services Authority on 30 April 2014.  As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law. As the Deputy is aware, neither I nor the Department of Finance have any role in the process including the making of applications to the High Court or payments. ...

Written Answers — Department of Finance: Brexit Negotiations (5 Mar 2020)

Paschal Donohoe: In accordance with the requirements of the European Semester, the Stability Programme Update (SPU) will be published and submitted to the European Commission by the end of April. The EU mandate for the negotiations on the future relationship with the United Kingdom, agreed last week, sets out the EU’s clear position, based on the Political Declaration. A close, comprehensive set...

Written Answers — Department of Finance: Tax Code (5 Mar 2020)

Paschal Donohoe: A single person in employment in the State is entitled to an annual Personal Tax Credit of €1,650 (€3,300 for married persons or civil partners) and an annual maximum Employee Tax Credit of €1,650. Persons employed in certain trades or professions can also receive an annual ‘flat rate expenses’ deduction. These entitlements reduce the amount of tax that is...

Written Answers — Department of Finance: Economic Growth (5 Mar 2020)

Paschal Donohoe: Growth in the first three quarters of 2019 remained strong, with GDP up 5.9 percent in year-on-year terms over that period, with the full year estimates due for release by the CSO very shortly. Of course, in recent years, GDP has become distorted by the activities of a small number of large multinational firms that often reflect a number of exceptional factors which have limited impact on...

Written Answers — Department of Finance: Economic Competitiveness (5 Mar 2020)

Paschal Donohoe: Growth in the first three quarters of 2019 remained strong, with GDP up 5.9 per cent year-on-year over that period, with the full year estimates for 2019 due for release by the CSO very shortly. Of course, in recent years, GDP has become distorted by the activities of a small number of large multinational firms that often reflect a number of exceptional factors which have limited impact...

Written Answers — Department of Finance: Tax Credits (5 Mar 2020)

Paschal Donohoe: The value of both the personal and employee tax credits has been set at €1,650 since the 2011 tax year following the implementation of Finance Act 2011.  The cumulative rate of consumer price inflation (based on the Harmonised Index of Consumer Price measure) from 2011 to end 2019 was 5.2 per cent.  Over the same period, between 2011 and 2018, the level of...