Results 12,161-12,180 of 32,610 for speaker:Paschal Donohoe

Written Answers — Department of Finance: VAT Rate Application (17 Dec 2019)

Paschal Donohoe: I am advised by Revenue that a tentative estimate of the cost of introducing a 9% VAT rate specific to residential construction is in the region of €270m in the first year and €310 for a full year. This estimate is based on extrapolation from data held by Revenue, the Central Statistics Office and the Department of Housing, Planning and Local Government in relation to the...

Written Answers — Department of Finance: Property Tax Data (17 Dec 2019)

Paschal Donohoe: The Report of the Working Group on the Tax and Fiscal Treatment of Landlords was published by my Department on Budget Day 2017.  Ten policy options were put forward in the report, divided into short-term, medium-term and long-term timeframes. Option 2 is for the introduction of Local Property Tax (LPT) deductibility for landlords. I am advised by Revenue that the...

Written Answers — Department of Finance: Tax Reliefs Costs (17 Dec 2019)

Paschal Donohoe: The Report of the Working Group on the Tax and Fiscal Treatment of Landlords was published by my Department on Budget Day 2017.  Ten policy options were put forward in the report, divided into short-term, medium-term and long-term timeframes. Option 3 is to enhance loss relief for landlords (or a sub-set of landlords), to allow relief for rental losses against other income...

Written Answers — Department of Finance: Tax Reliefs Costs (17 Dec 2019)

Paschal Donohoe: The Report of the Working Group on the Tax and Fiscal Treatment of Rental Accommodation Providers (published by my Department on Budget Day 2017) identified the measure suggested by the Deputy as a possible medium-term option. The report does not cost the measure but notes that three factors relevant for the costing would be: - the reduction in current income tax revenues; - in the longer...

Written Answers — Department of Finance: Tax Reliefs Costs (17 Dec 2019)

Paschal Donohoe: CGT becomes payable on any gain made on the disposal rather than the acquisition of an asset.   It would be difficult to cost the Deputy's proposal in the absence of further detail for example on the number of qualifying rental properties, the duration for which such rental properties were retained and any gains made on their disposal. I would say that the issue of a tax...

Written Answers — Department of Finance: Tax Data (17 Dec 2019)

Paschal Donohoe: Rental income, after deduction of allowable letting expenses, is subject to tax as part of the total taxable income of a landlord. Individual landlords are subject to income tax, including USC and PRSI where appropriate, at the current applicable rates. Expenses incurred in connection with the letting of a property are generally deductible under the Taxes Consolidation Act...

Written Answers — Department of Finance: European Banking Union (17 Dec 2019)

Paschal Donohoe: At ECOFIN in December 2019 the Council took stock of progress in strengthening the Banking Union under the Finnish Presidency. This is a regular agenda item at the end of each Presidency. The report is available at "". The report outlined the work which has been undertaken in relation to the proposal for a common European Deposit Insurance Scheme (EDIS), the action plan to tackle...

Written Answers — Department of Public Expenditure and Reform: Public Sector Staff Data (17 Dec 2019)

Paschal Donohoe: In accordance with requirements under the Disability Act 2005, the Minister for Public Expenditure and Reform is required to report to the National Disability Authority (NDA) on the numbers of people with a disability working in the Civil Service only. Other Ministers have similar responsibilities for the wider public service. Under Section 47 of the Disability Act, all public bodies are...

Written Answers — Department of Public Expenditure and Reform: Wheelchair Accessible Vehicles (17 Dec 2019)

Paschal Donohoe: My colleague, the Minister for Transport, Tourism and Sport and the National Transport Authority (NTA) have primary responsibility for meeting this commitment.  Recognising the prevailing market structure for taxi services is central to this issue and as there are no large unitary fleet operators who can easily be compelled to meet such a requirement, I understand the NTA (a)...

Written Answers — Department of Finance: Tax Incentives (12 Dec 2019)

Paschal Donohoe: My Department put in place published guidelines for the evaluation of potential tax expenditures in October 2014 (). Drawing on economic evidence, these make clear that it is important that any policy proposal which involves tax expenditures should only occur in limited circumstances where there are demonstrable market failures and where a tax-based incentive is more efficient than a direct...

Written Answers — Department of Finance: Departmental Budgets (12 Dec 2019)

Paschal Donohoe: Capital expenditure allocations for 2020 to 2022 were published for each Ministerial Vote Group in Budget 2020. The Finance Vote Group allocations are set out below, and these allocations will be verified in the 2020 Revised Estimates Volume. - 2020 €million 2021 €million 2022 €million Finance Group 22 ...

Written Answers — Department of Finance: Banks Recapitalisation (12 Dec 2019)

Paschal Donohoe: Over the course of 2009 and 2010 Anglo Irish Bank and Irish Nationwide Building Society were recapitalised at a cost of €34.7 billion. Of this €5.4 billion was injected into INBS and €29.3 billion into Anglo Irish Bank by way of equity and promissory notes. These entities were merged in July 2011 to become the Irish Bank Resolution Corporation (IBRC) which was...

Written Answers — Department of Finance: Credit Union Data (12 Dec 2019)

Paschal Donohoe: To answer the Deputy's question there has been no investment by the State in credit unions during the financial crisis. However, my Department put in place a number of financial measures, supported by Exchequer funds, to assist the credit union sector since 2011. These measures include: - establishment of the Credit Union Restructuring Board (ReBo) supported by the availability of...

Written Answers — Department of Finance: Revenue Documents (12 Dec 2019)

Paschal Donohoe: Since January 2019, employers and pension providers report pay and statutory deductions to Revenue in real-time on or before each pay date. The introduction of PAYE Modernisation also removed the requirement for employers to complete the various forms that were part of the previous reporting regime, for example forms P30, P35, P45 and P60. As a replacement for the form P60 (certificate of...

Written Answers — Department of Finance: Insurance Costs (12 Dec 2019)

Paschal Donohoe: I propose to take Questions Nos. 53 to 55, inclusive, together. Let me say at the outset that I am very aware of the issues facing many businesses and organisations in various sectors in relation to the cost and availability of insurance. However, neither Minister of State D’Arcy nor I have had any dedicated meetings with the Minister for Children and Youth Affairs, or childcare...

Written Answers — Department of Finance: Departmental Expenditure (12 Dec 2019)

Paschal Donohoe: The Deputy is correct that under Section 6 of the National Surplus (Reserve Fund for Exceptional Contingencies) Act 2019, in any given year, the Minister for Finance may make a proposal to the Dáil not to transfer the annual €500m contribution into the National Surplus (Exceptional Contingencies) Reserve Fund. Given that a disorderly Brexit was the baseline scenario for Budget...

Written Answers — Department of Finance: Departmental Expenditure (12 Dec 2019)

Paschal Donohoe: In response to the Deputy’s question, information relating to the first three points contained in the Parliamentary Question are presented in tabular form below: Department of Finance 2016 2017 2018 2019 No. of Credit Cards issued to Ministers and Officials working in Department 8 9 7 7 ...

Written Answers — Department of Finance: VAT Rate Application (12 Dec 2019)

Paschal Donohoe: I propose to take Questions Nos. 58 to 60, inclusive, together. I am advised by Revenue that in general where a concert takes place in Ireland, the artist’s performance fee is subject to Irish VAT at the standard rate, currently 23%. Where an international performer is engaged by a promoter, it is the responsibility of the promoter to account for VAT due on the performance fees. As...

Written Answers — Department of Finance: Help-To-Buy Scheme Expenditure (12 Dec 2019)

Paschal Donohoe: Revenue advise me that they publish a monthly update on the cost of the Help to Buy scheme (HTB) for the current year as the data becomes available. The cost of the scheme in 2019 to end November is €93.9 million. This figure will be updated for the entire year in due course and will be available at the following link: It should be borne in mind that HTB is a demand led scheme which...

Written Answers — Department of Finance: Living City Initiative (12 Dec 2019)

Paschal Donohoe: The Living City Initiative (LCI) (provided for in Finance Act 2013 and commenced on 5 May 2015) is a tax incentive aimed at the regeneration of the historic inner cities of Dublin, Cork, Galway, Kilkenny, Limerick and Waterford. The scheme provides income or corporation tax relief for qualifying expenditure incurred in refurbishing/converting qualifying buildings which are located within...