Results 12,661-12,680 of 33,214 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Interest Rates (5 Mar 2020)

Paschal Donohoe: Provisions governing the setting and adjustment of interest rates are a contractual matter for the parties to a credit agreement and the contract usually sets out the circumstances in which the interest rate can be changed (including, if applicable, in circumstances where the interest rate is determined by a reference rate and any associated margin) over the duration of the credit...

Written Answers — Department of Finance: Tax Code (5 Mar 2020)

Paschal Donohoe: I would like to advise the Deputy that all employees have a statutory right to claim a deduction under section 114 of the Taxes Consolidation Act (TCA) 1997 in respect of an expense incurred wholly, exclusively and necessarily in the performance of the duties of their employment, to the extent which the expenses are not reimbursed by the employer. The flat rate expense (FRE) regime is an...

Written Answers — Department of Finance: Insurance Costs (5 Mar 2020)

Paschal Donohoe: I propose to take Questions Nos. 82 and 104 together. The general problems across the country as a whole faced by many consumers and businesses in relation to the cost and availability of insurance are well known. Unfortunately, there is no single policy or legislative “silver bullet” to immediately stem or reverse premium price rises or increase capacity.  This is...

Written Answers — Department of Finance: Illicit Trade (5 Mar 2020)

Paschal Donohoe: I propose to take Questions Nos. 83 and 84 together. I am assured by Revenue that combating the threat which fuel fraud and the illicit alcohol and tobacco trades pose to legitimate business, consumers and the Exchequer continues to be a priority. Steps taken by Revenue to combat the illegal fuel trade include the introduction of stringent supply chain controls and reporting...

Written Answers — Department of Finance: Insurance Costs (5 Mar 2020)

Paschal Donohoe: I am very aware of the affordability and availability of insurance cover issues facing local community groups, including insurance coverage for events that they hold.  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 resolve this issue.  In this regard,...

Written Answers — Department of Finance: Tax Credits (5 Mar 2020)

Paschal Donohoe: I am advised by Revenue that it has examined the tax record of the person in question and is satisfied that they are in receipt of their correct entitlements based on the information provided by them. For tax year 2019, Revenue records indicate that the person was married but opted to be separately assessed for tax purposes for that year. They may now request a review...

Written Answers — Department of Finance: Stamp Duty (5 Mar 2020)

Paschal Donohoe: I am advised by Revenue that the Ready Reckoner, which is available on the Revenue website at link www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf, provides (on page 19) the estimated additional revenue that would be generated by increasing the rate of Stamp Duty on the portion of cost for a residential property above €1 million to 4%.

Written Answers — Department of Finance: Tax Code (5 Mar 2020)

Paschal Donohoe: The flat rate expense (FRE) regime is operated by Revenue on an administrative basis where both a specific commonality of expenditure exists across an employment category and the statutory requirement for the tax deduction as set out in section 114 of the Taxes Consolidation Act (TCA) 1997 is satisfied, namely, that the expenses are wholly, exclusively and necessarily incurred in the...

Written Answers — Department of Finance: Tax Collection (5 Mar 2020)

Paschal Donohoe: Revenue has confirmed to me that the person in question filed his 2019 Income Tax return (Form 11) via the Revenue Online System (ROS) on 25 February 2020. Revenue has also confirmed that a Notice of Assessment issued to the person on 26 February and the associated tax refund issued by cheque on 28 February 2020.

Written Answers — Department of Finance: Property Tax Review (5 Mar 2020)

Paschal Donohoe: The review of the Local Property Tax was completed by the Department of Finance in conjunction with the Departments of the Taoiseach, Public Expenditure & Reform and Housing, Planning & Local Government and the Revenue Commissioners and the report was published in April last year and is available on the Department of Finance website. In accordance with its terms of...

Written Answers — Department of Finance: Pension Levy (5 Mar 2020)

Paschal Donohoe: It is assumed the Deputy is referring to the stamp duty levy on pension funds, i.e. the pension levy, which was in operation from 2011 to 2015. I am advised by Revenue that a table showing stamp duty receipts, including the levy on pension funds, for the relevant years, is available on the Revenue website at the link: www.revenue.ie/en/corporate/documents/statistics/receipts/st...

Written Answers — Department of Finance: Tax Code (5 Mar 2020)

Paschal Donohoe: In situations where a couple is cohabiting, rather than married or in a civil partnership, each partner is treated for the purposes of income tax as a separate and unconnected individual. Because they are treated separately for tax purposes, credits, tax bands and reliefs cannot be transferred from one partner to the other.   The basis for the current tax treatment of married couples...

Written Answers — Department of Finance: Pension Levy (5 Mar 2020)

Paschal Donohoe: I propose to take Questions Nos. 93 and 105 together. The pension fund levy was introduced in 2011 in the wake of the financial crash and at a time when the economy was in serious difficulties. Urgent action needed to be taken to preserve and boost jobs and it is an unavoidable fact that difficult economic situations require hard and very often unpopular decisions. All sectors of the...

Written Answers — Department of Finance: Tax Code (5 Mar 2020)

Paschal Donohoe: The tax treatment of certain benefits payable under the Social Welfare Acts is dealt with under section 126 of the Taxes Consolidation Act of 1997. The Living Alone Allowance is an extra payment made to individuals who are 66 years of age or over, and are in receipt of any of the following Social Welfare payments: - the State Pension (Contributory); - the State Pension...

Written Answers — Department of Finance: Ministerial Meetings (5 Mar 2020)

Paschal Donohoe: As the Deputy may be aware I met with Ms Georgieva during my visit to Washington, D.C. last October to attend the Annual Meetings of the IMF-World Bank. During our short meeting, I invited the new Managing Director to visit Ireland and subsequently confirmed the invitation in writing on my return to Dublin. Ms Georgieva’s response is awaited and while no formal agenda has yet...

Written Answers — Department of Finance: Tax Code (5 Mar 2020)

Paschal Donohoe: It is assumed that the Deputy’s request is to increase the standard rate cut off point (SRCO) for the major earner of a jointly assessed unit (couple) with two incomes (currently €44,300) while also increasing the SRCO for both singly assessed taxpayers (currently €35,300), and jointly assessed taxpayer units with one income (currently €44,300). It is further...

Written Answers — Department of Finance: Property Tax Exemptions (5 Mar 2020)

Paschal Donohoe: The Finance (Local Property Tax) Act 2012 (as amended) provides for a limited number of exemptions from LPT, none of which operate on a temporary basis.  It does not provide any exemption for properties liable to, or having actually suffered, flooding. Limiting the exemptions available has kept the tax base as broad as possible and has allowed the rate to be kept low for those liable...

Written Answers — Department of Finance: Vehicle Registration (5 Mar 2020)

Paschal Donohoe: In my Budget statement on 8 October I announced, in support of climate and public health policy, that I would be replacing the 1 per cent VRT diesel surcharge with a nitrogen oxide (NOx) emissions-based charge that would apply to all passenger cars registering for the first time in the State from 1 January 2020.  The Finance Act 2019, section 50 subsequently introduced this additional...

Written Answers — Department of Finance: Insurance Coverage (5 Mar 2020)

Paschal Donohoe: My officials have recently been in touch with Insurance Ireland to get an update on the number of property claims they have received as a result of the recent storms.  In response, Insurance Ireland has indicated that there has not been a large increase in the number of calls to their Consumer Insurance Information Service helpline. Therefore, Insurance Ireland's initial view...

Written Answers — Department of Finance: Coronavirus Outbreak (5 Mar 2020)

Paschal Donohoe: Exports from Ireland under 'contract manufacturing' arrangements account for approximately one-third of Irish exports, amounting to just over €68 billion in 2018 (latest available full-year data). Contract manufacturing is a form of outsourcing whereby an Irish-resident firm engages a company abroad to manufacture goods on its behalf (and vice versa). Despite having no actual...