Results 12,421-12,440 of 33,214 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 45, 64, 97, 120 and 129 together. The Temporary Wage Subsidy Scheme (TWSS) is a temporary emergency measure to deal with the impact of the Covid-19 pandemic on the economy, intended to maximise staff retention and firm viability by maintaining the link between the employer and employee insofar as is possible through this truly exceptional period. In that...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: The Government’s priority in so far as the Temporary Wages Subsidy Scheme (TWSS) is concerned was and is to ensure that all employers experiencing significant negative economic disruption from COVID-19 can register for and start to receive payment quickly. The purpose of the scheme is to ensure that the relationship between employers and employees is maintained to the greatest extent...

Written Answers — Department of Finance: Help-To-Buy Scheme (20 May 2020)

Paschal Donohoe:  The legislation governing HTB is set out in section 477C of the Taxes Consolidation Act 1997. The Help to Buy scheme (HTB) is an income tax incentive designed to assist first-time purchasers with a deposit to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous...

Written Answers — Department of Finance: VAT Rate Application (20 May 2020)

Paschal Donohoe: The Government is fully aware of the unprecedented impact that the coronavirus is having on business and people’s livelihoods. In this regard a range of measures have been introduced to provide income support to those who need it while also giving confidence to employers to retain the link with employees so that when this crisis passes - and it will pass – our people can get...

Written Answers — Department of Finance: Pension Provisions (20 May 2020)

Paschal Donohoe: In relation to the Deputy’s proposal to allow people access a portion of their pension fund before retirement, the long established policy of providing tax relief for pension contributions is to encourage saving by employers, employees and the self-employed towards their retirement income. A repayment of contributions is only permitted in highly limited circumstances, for...

Written Answers — Department of Finance: Vehicle Registration (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 50 and 51 together. I am informed by Revenue that used vehicles brought into the State from the UK or elsewhere are required to be registered within 30 days in normal circumstances. However, as National Car Testing Service (NCTS) Centres which perform the registration service are closed at present as a result of the Covid-19 crisis, this requirement is not...

Written Answers — Department of Finance: Vehicle Registration (20 May 2020)

Paschal Donohoe: I am informed by the Revenue Commissioners that, in respect of registrations and examinations carried out  in the National Car Testing Service Centres, a resumption proposal has been submitted by the Road Safety Authority to the Department of Transport, Tourism and Sport that would see a limited number of Centres resume on 8 June 2020 for NCT testing.  If this resumption proposal is...

Written Answers — Department of Finance: VAT Rate Application (20 May 2020)

Paschal Donohoe: The Government is fully aware of the unprecedented impact that the coronavirus is having on business and people’s livelihoods. In this regard a range of measures have been introduced to provide income support to those who need it while also giving confidence to employers to retain the link with employees so that when this crisis passes - and it will pass – our people can get...

Written Answers — Department of Finance: Insurance Coverage (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 54, 55 and 134 together. I am aware that there have been many concerns expressed about how the insurance industry is responding to the needs of its business policyholders in these difficult times, in terms of honouring business interruption claims and also with regard to whether forbearance and other flexible measures are being offered to them. In this...

Written Answers — Department of Finance: Home Building Finance Ireland (20 May 2020)

Paschal Donohoe: HBFI was established, in January 2019, to increase the availability of funding for the residential development market. At the time of launch, HBFI offered a Senior Debt funding product for developments of 10 units and above. On 10 May 2020, HBFI released a number of new products, one of which provides funding for smaller commercially viable residential projects, of 5 units or more. ...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 57, 84, 85 and 92 together. In relation to the Temporary Wage Subsidy Scheme (TWSS), since 9 April 2020 Revenue has published statistics on the operation of the TWSS on a regular basis. On 14 May, Revenue published updated and expanded statistical information in relation to the scheme. All of these statistics are available on Revenue’s website...

Written Answers — Department of Finance: Real Estate Investment Trusts (20 May 2020)

Paschal Donohoe: Finance Act 2013 introduced the regime for the operation of Real Estate Investment Trusts (REITs) in Ireland. The function of the REIT framework is not to provide an overall tax exemption but rather to facilitate collective investment in rental property by removing a double layer of taxation which would otherwise apply on property investment via a corporate vehicle. A number of...

Written Answers — Department of Finance: Tax Collection (20 May 2020)

Paschal Donohoe: I am advised by Revenue that Professional Services Withholding Tax (PSWT) is a deduction at source that is applied to certain payments made by bodies listed in legislation to professional service providers. Tax is deducted at the standard income tax rate, currently 20%. It should be noted that PSWT is not an additional tax.  It is instead a payment on account, which is set against the...

Written Answers — Department of Finance: Departmental Contracts (20 May 2020)

Paschal Donohoe: My department regularly publishes details of consultancy expenditure on its website, most recently for Q1 2020. The following table outlines the detail and costs of my department’s engagement of external consultants from 1 January 2020 to date. Supplier: The details of such engagements: Costs: Indecon International Economic Consultants ...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 61, 74, 77 and 108 together. The Temporary Wage Subsidy Scheme (TWSS) is provided for in section 28 of the recently enacted Emergency Measures in the Public Interest (Covid-19) Act 2020. Of necessity, the legislation and the scheme itself were developed very quickly to support the urgent Government objective of getting much needed assistance to...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 May 2020)

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) is an emergency measure to deal with the impact of the Covid-19 pandemic on the economy. The scheme builds on data returned to Revenue through its real-time PAYE system. It must be accepted that the underlying legislation and the scheme itself simply cannot be tailored to meet every individual unique set of circumstances for either employers or...

Written Answers — Department of Finance: Ministerial Meetings (20 May 2020)

Paschal Donohoe: The Government is fully aware of the unprecedented impact that the coronavirus is having on business and people’s livelihoods. In this regard a range of measures have been introduced to provide income support to those who need it while also giving confidence to employers to retain the link with employees so that when this crisis passes - and it will pass – our people can get...

Written Answers — Department of Finance: Financial Services Sector (20 May 2020)

Paschal Donohoe: As part of the Targeted Longer-Term Refinancing Operation (TLTRO), banks can borrow from the Eurosystem at favourable terms to incentivise eligible lending to businesses and households. As of 30 April, the Governing Council of the ECB has set the entry rate on the TLTRO programme to be -0.5%. The interest rate then decreases on a scale depending on developments in a bank’s eligible...

Written Answers — Department of Finance: Proposed Legislation (20 May 2020)

Paschal Donohoe: In respect of the measures to which the Deputy refers and for which my Department is responsible, I am advised by Revenue that the effective “warehousing” of VAT and PAYE (Employer) liabilities is currently operational.  In March this year, Revenue announced that it was suspending debt collection and the charging of interest on late payment for the January/February and...

Written Answers — Department of Finance: Mortgage Applications Approvals (20 May 2020)

Paschal Donohoe: The European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (CMCAR) provide that, before concluding a mortgage credit agreement, a lender must make a thorough assessment of the consumer’s creditworthiness.  The assessment must take appropriate account of factors relevant to verifying the prospect of the consumer being able to meet his or her obligations under the...