Results 12,021-12,040 of 33,214 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Credit Unions (7 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: Programme for Government (7 Jul 2020)

Paschal Donohoe: It is intended that, beginning in 2020, the Recovery Fund will be available for three years and will consist of three primary elements: - Infrastructure development - focussing on areas such as housing, retrofitting and transport to maintain employment and lay the foundation for future employment. - Reskilling and retraining - for those who have lost their jobs as a result of the...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: The Programme for Government sets out the Government’s intention to utilise taxation measures, as well as expenditure measures, to close the deficit and fund public services, if required. It is further stated in the Programme that governmental policy will aim to focus any tax rises on those taxes which tax behaviours with negative externalities, such as carbon tax, sugar tax, and...

Written Answers — Department of Finance: Tax Code (7 Jul 2020)

Paschal Donohoe: The Programme for Government states that there will be a review Capital Gains Tax (CGT) in each Budget over the next five-years, in particular with the objective of supporting innovation driven enterprises that will help transition to a low carbon economy. CGT is subject to ongoing review, which involves the consideration and assessment of the rate of CGT and the reliefs and exemptions...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: I propose to take Questions Nos. 205, 207 to 209, inclusive, and 211 together. The Programme for Government ‘Our Shared Future’ contains a number of commitments relating to taxation, including in relation to the tax credit referred to by the Deputy. The intention is to deliver these commitments within the duration of the life of the Government, noting the need to provide a...

Written Answers — Department of Finance: Tax Code (7 Jul 2020)

Paschal Donohoe: As the Deputy will be aware, consideration of possible changes to CAT rates and thresholds generally takes place as part of the annual Tax Strategy Group, Budget and Finance Bill process. Together, these processes consider options for changes across the wider tax system. As is normal, the Deputy will appreciate that I cannot comment on any possible changes in advance of the 2021 Budget.

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: As the Deputy will be aware, I am supportive and have repeatedly spoken on the need to broaden the tax base. A number of measures have been taken in this regard in recent years and include the introduction of the Universal Social Charge, the Local Property Tax and the Sugar Sweetened Drinks Tax. More recently changes to the VAT rate and carbon tax changes were introduced to broaden the tax...

Written Answers — Department of Finance: Statutory Instruments (7 Jul 2020)

Paschal Donohoe: Statutory Instrument 110 of 2019, the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019, was signed into law on 22 March 2019. These Regulations transpose Article 30 of the Fourth Anti-Money Laundering Directive (as amended by the Fifth Anti-Money Laundering Directive) and maintain the obligation, first established in 2016, for corporate...

Written Answers — Department of Finance: Tax Credits (7 Jul 2020)

Paschal Donohoe: The Research and Development (R&D) tax credit allows companies to claim a 25% tax credit in respect of expenditure incurred on qualifying R&D activities. In making a claim for the R&D tax credit, companies must satisfy two tests: the activity must be a qualifying activity (a science test); and the amount of the claim must be based on R&D expenditure incurred...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: I have been advised by the Central Bank of Ireland (the Central Bank) that it is committed to regularly reviewing its statutory Codes and ensuring they remain effective. The Central Bank first introduced the Code of Conduct on Mortgage Arrears (CCMA) in 2009 in the midst of an economic and employment crisis to provide statutory safeguards for vulnerable, financially-distressed borrowers...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: The Programme for Government has committed to introduce a Senior Executive Accountability Regime (SEAR). SEAR will drive positive changes in terms of culture, greater delegation of responsibilities, and enhanced accountability while simplifying the taking of sanctions against individuals who fail in their financial sector roles. Officials in my Department are engaging with the Attorney...

Written Answers — Department of Finance: Covid-19 Pandemic (7 Jul 2020)

Paschal Donohoe: The Government is very much aware of the economic difficulties and challenges the Covid-19 pandemic is causing for very many people and businesses. Therefore, in the Programme for Government - Our Shared Future - this new Government commits itself to make every effort to get people back to work, to re-open businesses while developing the strategies and the policies to drive this forward....

Written Answers — Department of Finance: Motor Tax (7 Jul 2020)

Paschal Donohoe: Programme for Government measures such as this are being considered by my officials in the context of the upcoming Budget and future Budgets.

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: As stated in the Programme for Government, it is the Government’s intention to increase the carbon tax to 100 euro per tonne by 2030. This increase is to be achieved by an annual increase of €7.50 per annum to 2029 and €6.50 in 2030. The Programme for Government also plans to legislate for the hypothecation of all additional carbon tax revenue into a Climate Action...

Written Answers — Department of Finance: Programme for Government (7 Jul 2020)

Paschal Donohoe: Well-being is a multidimensional concept which spans economic, social, health, and environmental concerns, amongst others. One of the responsibilities of Government entails monitoring and improving the living standards, or well-being, of the Irish people through a variety of channels. The limitations of standard economic statistics such as GDP in reflecting the welfare of citizens have...

Written Answers — Department of Finance: Budget Process (7 Jul 2020)

Paschal Donohoe: The Deputy will be aware that the main channel through which resource redistribution is incorporated within the budgetary process is by means of our highly progressive income tax system. In its study published in January of this year, the ESRI found that Ireland’s tax system does the most in Europe to reduce household income inequality. It found that in 2017, the tax system lowered...

Written Answers — Department of Finance: Budget Process (7 Jul 2020)

Paschal Donohoe: In answer to this PQ, please refer to the reply provided by the Department of Public Expenditure and Reform to Parliamentary Question No. 239 of today. PQ Ref:14626/20.

Written Answers — Department of Finance: Economic Policy (30 Jun 2020)

Paschal Donohoe: I propose to take Questions Nos. 22 and 41 together. I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply...

Written Answers — Department of Finance: Insurance Coverage (30 Jun 2020)

Paschal Donohoe: At the outset it should be noted that neither I, as Minister for Finance, nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products or have the power to direct insurance companies to provide cover to specific individuals or businesses.  This position is reinforced by the EU framework for insurance (the Solvency II Directive) which expressly prohibits...

Written Answers — Department of Finance: Tax Reliefs (30 Jun 2020)

Paschal Donohoe: The Department of Health/HSE administer a Mobility Allowance and Motorised Transport Grant to assist persons with disabilities. Information in relation to these supports can be found in the following link, as well as a broader range of transport supports for persons with disabilities:  In addition to these supports, the Disabled Drivers and Disabled Passengers Scheme provides for relief...