Results 12,521-12,540 of 33,214 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Public Procurement Contracts (13 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 64 and 65 together. As the Deputy is aware, European Union law sets out minimum harmonised public procurement rules. These rules govern the way public authorities and certain utility operators purchase goods, works and services. The rules are set out in three principal EU Directives which are transposed into national legislation and apply to tenders for public...

Written Answers — Department of Finance: Public Procurement Contracts (13 May 2020)

Paschal Donohoe: I propose to take Questions Nos. 66 and 67 together. Details of payments for valid supplier invoices processed by my Department and the bodies under its aegis during 2019; after 30 days of receipt, and 90 days of receipt, are contained in the following tables (the various tables have been compiled based on the accounts as at the time the PQ was first received). It should also be noted that...

Written Answers — Department of Finance: Tax Reliefs Eligibility (13 May 2020)

Paschal Donohoe: Section 469 of the Taxes Consolidation Act 1997 provides for tax relief in respect of qualifying expenses incurred in the provision of health care in a tax year. Examples of qualifying expenses include GP fees, prescribed medicines, non-routine dental and optical care and nursing home fees. Detailed guidance on health expenses is available on Revenue’s website at the following link:...

Written Answers — Department of Finance: Tax Code (13 May 2020)

Paschal Donohoe: As the Deputy is probably aware, the National Asset Management Agency Act 2009 amended the Taxes Consolidation Act 1997 by providing for an 80% windfall tax on profits or gains arising from disposals of development land, to the extent that those gains were attributable to a relevant planning decision. Profits or gains from these activities that were not attributable to a relevant planning...

Written Answers — Department of Finance: Tax Code (13 May 2020)

Paschal Donohoe: I am advised by Revenue that it was informed by the Department of Employment Affairs and Social Protection (DEASP) that the person’s State Contributory Pension payment increased by €5 per week with effect from 6 January 2020. In situations where a person has both a private pension and a State Contributory Pension from DEASP, the tax due on the latter (DEASP payment) is...

Written Answers — Department of Finance: Financial Services Regulation (13 May 2020)

Paschal Donohoe: As the Deputy will be aware, regulated entities have introduced three-month payment moratoria on mortgages, and personal and business loans for business and personal customers affected by COVID-19. Regulated entities will now make available a further three-month extension to the current payment moratoria to customers that continue to be directly impacted by the fallout from the Covid-19...

Written Answers — Department of Finance: Insurance Coverage (13 May 2020)

Paschal Donohoe: Let me say at the outset that I am very aware of the affordability and availability of insurance cover issues facing local community groups and projects, such as the one outlined in the Deputy’s question. I have much sympathy for the position such groups find themselves in, however as the Deputy is aware, there are significant constraints on what the Government can do to immediately...

Written Answers — Department of Finance: VAT Rate Increases (13 May 2020)

Paschal Donohoe: Shortly after the introduction of VAT, Revenue allowed the zero rate to be applied to certain food supplement products (vitamins, minerals and fish oils). This concessionary approach expanded as the market developed over the years and resulted in the zero rating by Revenue of further similar products, including products other than vitamins, minerals and fish oils. Revenue has acknowledged...

Written Answers — Department of Finance: Revenue Commissioners (13 May 2020)

Paschal Donohoe: Revenue has advised me that it reviewed the tax position of the person in question on 29 January 2020 and I am assured that their record is now fully up to date. Revenue has also advised me that it confirmed the correct tax position to the person on the same date via its ‘MyEnquiries’ system. Unfortunately, Revenue omitted to provide an update to the Deputy and apologises for...

Written Answers — Department of Finance: Mortgage Interest Relief Expenditure (13 May 2020)

Paschal Donohoe: Mortgage Interest Relief (MIR) is currently available for mortgage loans taken out between 1 January 2004 and 31 December 2012, which were used for the purchase, repair or improvement of a principal private residence. The rate of relief depends on whether the loan was taken out by a first-time buyer, the date of purchase and the length of time the loan has been held. The rate of relief is...

Written Answers — Department of Finance: Tax Credits (13 May 2020)

Paschal Donohoe: The rent relief tax credit was abolished in Budget 2011 and is no longer available to those that commenced renting for the first time from 8 December 2010. This followed a recommendation in the 2009 report by the Commission on Taxation that rent relief should be discontinued. The view of this independent commission was that, in the same manner in which mortgage interest relief increases the...

Written Answers — Department of Finance: Universal Social Charge Exemptions (13 May 2020)

Paschal Donohoe: I am advised by Revenue that the estimated first and full year cost to the Exchequer of exempting all income below €30,000 from the Universal Social Charge (USC) is €1,056m and €1,219m respectively. This estimate has been generated by reference to 2020 incomes, calculated on the basis of actual data for the year 2017, the latest year for which returns are available,...

Written Answers — Department of Finance: Corporation Tax Regime (13 May 2020)

Paschal Donohoe: The Deputy may recall that my Department issued a Technical Note to the Committee on Finance, Public Expenditure & Reform and Taoiseach (FinPERT) in August 2018 which dealt with the potential consequences of changes to the treatment of Corporation Tax Loss relief in respect of banks. The Technical Note can be found at the following link: In answering the Deputy’s current...

Written Answers — Department of Finance: VAT Rate Application (13 May 2020)

Paschal Donohoe: I am advised that information regarding the potential impact of possible rate changes on VAT receipts is available in Revenue’s Ready Reckoner at link: . Increases or decreases in excess of the listed 1% change can be extrapolated on a straight-line basis. Please note that the Ready Reckoner does not account for COVID-19. Under the EU VAT Directive, with which Irish VAT law must...

Written Answers — Department of Finance: Banking Sector (13 May 2020)

Paschal Donohoe: The spread of COVID-19 is a major shock to growth prospects across the globe. It is clear that the pandemic is disrupting economic activity, both internationally and in Ireland, with adverse impacts on households, businesses and the financial system in the near term. The necessary containment measures on public health grounds will have a significant impact on the euro area and Irish...

Written Answers — Department of Finance: Ireland Strategic Investment Fund (13 May 2020)

Paschal Donohoe: The National Treasury Management Agency (NTMA) have informed me that the Ireland Strategic Investment Fund (“ISIF”) is already actively engaged across a range of investment initiatives relating to the regeneration of the core of many of our regional cities and major towns. Investment in support of Regional Development is one of ISIF’s priority themes under its refocused...

Written Answers — Department of Finance: Carbon Tax (13 May 2020)

Paschal Donohoe: I am advised by Revenue that the estimated additional receipts from the Budget 2020 increase of €6 per tonne in Carbon Tax are shown in the following table. These estimates are based on normal consumption levels and no allowance has been made for any change in consumption in future years. Year €m 2020 +93 2021 ...

Written Answers — Department of Finance: Bank Charges (13 May 2020)

Paschal Donohoe: All credit institutions in Ireland are independent commercial entities and the imposition of bank fees and charges is a commercial decision for the bank involved. You will be aware that, as Minister for Finance, I have no statutory role in relation to the charges applied by credit institutions. Under Section 149 of the Consumer Credit Act 1995, as amended, the responsibility for the...

Written Answers — Department of Finance: Bank Charges (13 May 2020)

Paschal Donohoe: All credit institutions in Ireland are independent commercial entities and the imposition of bank fees and charges is a commercial decision for the bank involved. You will be aware that, as Minister for Finance, I have no statutory role in relation to the charges applied by credit institutions. Under Section 149 of the Consumer Credit Act 1995, as amended, the responsibility for the...

Written Answers — Department of Finance: Exchequer Returns (13 May 2020)

Paschal Donohoe: In January the Medium Term Fiscal Strategy (MTFS) outlined, at a high level, the growth, revenue, expenditure and corresponding general government position over a five year horizon. The Stability Programme Update (SPU)2020, published in April and formally submitted to the European Commission and European Council, incorporated the impact of the Covid-19 pandemic and the adopted policy...