Results 12,761-12,780 of 32,547 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: Given that I have done three budgets and that the degree of change in each has been, to use my words carefully, given what the Deputy just said, incremental, I will decide at another point what commitments the party or I should make for the future. Let us be clear that, for the most part, this is about the transfer of inheritance between parents and their children.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: It is not about ideology for me. Parents work very hard to build and own a home and build up income during their lives. They pass that to their children. The Deputy takes a different view of that than me.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: The Deputy has made a statement and I will respond. Every time I outline a view, it is ideology, but every time the Deputy does so, it is a belief.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: From the way the Deputy used the word a moment ago, he appears to think I do not also have beliefs or views on how these things should be dealt with. What we have here is a difference of opinion on the degree to which inheritance should be passed on in a tax-free manner. I believe it is appropriate, as resources allow, to have a set of changes to allow a little bit more to be passed on from...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: Can I suggest a break of five minutes? Would that be possible, and we could resume at 6.45 p.m.?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: I agree that there will be a need to review where we are with the application of this levy but I do not believe that that time is now. The liability period for the 7% rate will apply from January 2020. Now that I think about it, it will be kicking in from 1 January 2020 which is before next year's budget. I do not want to commit to a report in the Finance Bill because I do not believe it is...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: We are trying to see if we can get the up-to-date figures to which Deputy Boyd Barrett referred. I will deal with the different points made and issues raised by Deputies Pearse Doherty and Boyd Barrett. It is our expectation that the application of the changes that we have made in transfer pricing in this Finance Bill will have an effect on intra-group transfers. The reason changes are...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: Not to hand, but we will get it for the Deputy if it is available.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: We have not forgotten the Deputy's request. We have a lot of them. We will get back quickly to everybody at the same time.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: I thank the Deputy. If I look at the current operation of the LPT, it has raised approximately €3 billion since it was implemented. It raises approximately €500 million per year. The raising of that €500 million per year has allowed that money to go to local authorities and, in turn, freed up space on behalf of the Exchequer to spend money elsewhere. It has broadened...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: Deputy Boyd Barrett now wants a bit of a DAC himself.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (Resumed) (6 Nov 2019)

Paschal Donohoe: I will respond to the points raised by the Deputy. Before I do so and as we approach the end of the Bill, I wish to signal to the committee that I may table an amendment on Report Stage regarding an issue relating to reliefs for the maritime sector. It will be one of a small number of reliefs I will bring forward. I am considering the matter. I am interested in the film industry. I...

Written Answers — Department of Finance: VAT Rebates (5 Nov 2019)

Paschal Donohoe: The Retail Export Scheme allows persons who are resident outside the EU and who make purchases of goods in the EU to avail of a refund of the VAT charged on these goods where the goods are exported from the EU by the tourist or traveller within three months of purchase. The UK will become a 3rd country and UK residents will become eligible for the scheme post Brexit. The provision...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (5 Nov 2019)

Paschal Donohoe: I am informed by Revenue that Drivers and Passengers with Disabilities Scheme Regulations (S.I. No. 353 of 1994) provide that where a person receives a repayment or remission of VRT/VAT in respect of a vehicle purchased to transport ‘a person with disabilities’, that person shall undertake to use the vehicle for a period of at least two years from the date of purchase. Paragraph...

Written Answers — Department of Finance: Tax Incentives (5 Nov 2019)

Paschal Donohoe: I assume from the details accompanying his question that the deputy is primarily referring to natural persons acting as landlords and income tax based measures. The Report of the Working Group on the Tax and Fiscal Treatment of Landlords examined the general issue raised in the Deputy's question. It was submitted to me for consideration in September 2017, in advance of its publication...

Written Answers — Department of Finance: Brexit Preparations (5 Nov 2019)

Paschal Donohoe: I propose to take Questions Nos. 119 to 121, inclusive, and 129 together. Budget 2020, including the macroeconomic outlook which underpins it, was based on the prudent assumption that the UK would leave the EU on 31 October without an agreement. The macroeconomic outlook is set out in the Economic and Fiscal Outlookpublished with Budget 2020. This included, at Box 4, an assessment of the...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Data (5 Nov 2019)

Paschal Donohoe: The Strategic Banking Corporation of Ireland (SBCI) is Ireland’s national promotional institution. The purpose of the SBCI is to deliver effective financial supports to Irish SMEs to address gaps and potential failures in the Irish SME finance market as well as encouraging competition and innovation, and facilitating the efficient and effective use of EU resources and financial...

Written Answers — Department of Finance: Haulage Industry (5 Nov 2019)

Paschal Donohoe: The Diesel Rebate Scheme (DRS) was introduced in 2013 offering a partial refund to qualifying road operators on the excise paid on diesel when the retail price reaches €1.00 (Vat exclusive) or above. There is a maximum rebate of 7.5 cents per litre when the retail price is €1.25 (Vat exclusive) or above. In recognition of the challenges facing the road haulage sector due...

Written Answers — Department of Finance: Fiscal Policy (5 Nov 2019)

Paschal Donohoe: I commenced the National Surplus (Exceptional Contingencies) Reserve Fund(the Rainy Day Fund) on Thursday 31 October 2019. On foot of commencement and the necessary Delegation Order to the NTMA regarding the management of the Fund, I am directing the NTMA to transfer €1.5 billion from the Ireland Strategic Investment Fund (ISIF) by 30 November 2019. In preparing Budget 2020, I set...