Results 12,461-12,480 of 33,214 for speaker:Paschal Donohoe

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

Paschal Donohoe: I am advised by Revenue that the amount collected in Carbon Tax in each of the years 2018 and 2019 is €431.1 million and €430.4 million respectively.

Written Answers — Department of Finance: Mortgage Interest Rates (20 May 2020)

Paschal Donohoe: Decisions in relation to mortgage lending are a commercial matter for lenders and are based on a number of factors, including the cost of borrowing. While interest rates in Ireland remain higher than in many other European countries, there has been significant reduction in interest rates on new mortgage lending over the last 4-5 years. For example, the new business interest rate,...

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. It builds on data returned to Revenue through the PAYE system and as such is a fully automated solution. The automated solution, which was developed in a very short timeframe in response to the pandemic, is designed around the dates specified in the legislation and...

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

Paschal Donohoe: I am informed by Revenue that the Exchequer yield from the introduction of the additional taxes suggested by the Deputy is estimated to be in the region of €290 million in a full year. This yield assumes that that tax would be imposed on all non-principal private residences, excluding residential properties in the ownership of local authorities and approved housing bodies.

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

Paschal Donohoe: Revenue has advised me that investment in the training and development of a Revenue auditor or investigator can take up to three years, depending on previous relevant experience. Therefore, it is not possible to accurately estimate the additional yield that would immediately arise from the recruitment of 180 audit staff. Revenue has also advised me that it undertakes a range of risk...

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

Paschal Donohoe: I am advised by the Revenue Commissioners that there are currently 65,946 businesses registered for a Customs EORI number. The Revenue Commissioners noted that 92.7% of the value of imports from the UK in 2019 and 95.8% of the value of exports to the UK in 2019 was carried out by businesses who now have an EORI number. In relation to businesses who trade with the UK, the Revenue Commissioners...

Written Answers — Department of Finance: Brexit Issues (20 May 2020)

Paschal Donohoe: The Stability Programme Update sets out the latest macroeconomic and fiscal outlook, taking into account the impact of COVID-19. The Irish economy is expected to contract by 10.5 per cent this year. Economic activity will gradually recover in the second half of the year, picking up momentum with growth of 6 per cent next year. In relation to Brexit, this is based on the assumption of a...

Written Answers — Department of Finance: Bank Charges (20 May 2020)

Paschal Donohoe: The Deputy will aware that card payments, and in particular contactless payments, are being promoted in order to support public health policy at this time. Fees for the acceptance of card transactions are charged to retailers by their acquirer, who manages the account and relationship between a retailer and the various card schemes.  All acquirers in Ireland are independent...

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

Paschal Donohoe: The Temporary Wage Subsidy Scheme (TWSS) makes no distinction between employees by reference to their place of residence. All eligible employees of qualifying employers are entitled to the wage subsidy. The TWSS is provided for in section 28 of the recently enacted Emergency Measures in the Public Interest (Covid-19) Act 2020 (The Act). Of necessity, the underlying legislation and...

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

Paschal Donohoe: I propose to take Questions Nos. 104, 105 and 112 together. The European Commission Decision C(2020)2146, adopted on 3 April 2020, provides for the importation of goods to fight the effects of COVID -19 from outside the European Union without the payment of VAT or Customs Duty from January 2020. Such relief is permitted where the goods are imported by or on behalf of State bodies, public...

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

Paschal Donohoe: When computing the amount of profits or gains to be charged to corporation tax, a company is, in general, entitled to deductions in respect of revenue expenditure wholly and exclusively incurred for the purposes of its trade as provided for in section 81 of the Taxes Consolidation Act, 1997. I am advised by the Revenue Commissioners that where a business incurs costs to implement social...

Written Answers — Department of Finance: Exchequer Deficit (20 May 2020)

Paschal Donohoe: The Government published its Draft Stability Programme Update on 21 April. This set out an updated economic and fiscal scenario, for this year and next, incorporating the impact of the Covid-19 pandemic. The necessary fiscal cost of providing short-term support to the private sector will be significant. A general government deficit of €23 billion was projected for this year. The cost...

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

Paschal Donohoe: There are a number of tax credits and reliefs available to individuals who are carers of incapacitated persons. The Incapacitated Child Tax Credit is a tax credit of €3,300, which can be claimed by a person in respect of a child who is permanently incapacitated either physically or mentally from maintaining himself or herself and had become so before reaching 21 years of age or...

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

Paschal Donohoe: I am advised by Revenue that the additional amount of revenue that could be generated if the betting intermediary duty rate increased from 25% to 30% is estimated at €0.55m in a full year, potentially bringing the total amount for this duty to €3.3 million in a full year.

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

Paschal Donohoe: Details of the dividends paid to the Exchequer in 2018 and 2019 by each commercial State body are provided in the table below. Information on such dividends and receipts paid to the Exchequer are published on a monthly basis by my Department in the Fiscal Monitor which is available at . Company 2018 € 2019 € Coillte Teoranta ...

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

Paschal Donohoe: Payments made under the Pandemic Unemployment Payment (PUP) Scheme are an income support and share the characteristics of income.  Other income earners in receipt of comparable “normal wages” are taxable on those wages.  In the interest of equity, therefore, payments made under the PUP scheme are subject to income tax.  However, tax will not be collected in...

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

Paschal Donohoe: I propose to take Questions Nos. 115 and 116 together. At the outset you should note 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...

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

Paschal Donohoe: 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 underlying legislation and the scheme itself have been developed very quickly, having regard to the overarching, urgent Government objective of getting much needed assistance to employers and employees,...

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

Paschal Donohoe: At the outset, I would like to express my sympathy for those whose wedding plans have been impacted by the COVID-19 pandemic.  However, the Deputy should note that neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, or their contractual terms, as these matters are of a commercial nature, and are determined by insurance companies...

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

Paschal Donohoe: I propose to take Questions Nos. 119 and 126 together. As the Deputy will be aware, An Taoiseach, Leo Varadkar and I, along with the Minister for Business, Enterprise & Innovation, met with the Chief Executives of the five Irish major retail banks last week. The Taoiseach emphasised the important role of the banking sector in supporting the gradual re-opening of the Irish economy by...