Results 12,981-13,000 of 33,280 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Data (3 Dec 2019)

Paschal Donohoe: I am advised by Revenue that prior to 2018, tax returns did not identify Flat Rate Expenses (FREs) separately from other expense items. Therefore, the detailed breakdown of claimants sought by the Deputy is not available at this time. For 2017 the estimated total number of taxpayer units who availed of FRE allowances was 606,570 with gross claims of €163 million equating to a tax cost...

Written Answers — Department of Finance: Exchequer Revenue (3 Dec 2019)

Paschal Donohoe: My Department's latest forecasts, contained inBudget 2020 Economic & Fiscal Outlook, project Exchequer revenue and expenditure over the years 2020 to 2024 inclusive. Budget 2020 was underpinned by the assumption of a disorderly Brexit. As such, due to the operation of automatic stabilisers, the impact of Brexit contingency expenditure and other factors, the Exchequer is projected to...

Written Answers — Department of Finance: Tax Code (3 Dec 2019)

Paschal Donohoe: Over the past 18 months, Revenue has been conducting a comprehensive review of the administratively based Flat Rate Expenses (FRE) regime. Revenue has advised me that the purpose of the FRE review, which involved engagement with relevant representative bodies, is to ensure that the expenses granted to each employment category remain justified and appropriate to modern day employments and...

Written Answers — Department of Finance: Financial Services Regulation (3 Dec 2019)

Paschal Donohoe: I am advised by the Central Bank that OHA (UK) LLP is an Alternative Investment Fund Manager authorised by the Financial Conduct Authority in the UK providing services & activities in Ireland on a cross-border basis in accordance with the provisions of the European Union (Alternative Investment Fund Managers) Regulations 2013. As an authorised Alternative Investment Fund Manager, OHA...

Written Answers — Department of Finance: Departmental Reports (3 Dec 2019)

Paschal Donohoe: The Deputy will find the information requested in relation to external consultant reports commissioned by my Department in each of the years March 2011 to 2018 and to date in 2019 in the table attached in the following link. ">Response

Written Answers — Department of Finance: VAT Payments (3 Dec 2019)

Paschal Donohoe: I propose to take Questions Nos. 128 to 130, inclusive, and 145 together. I have previously outlined the rationale for the changes I have made to the VAT Retail Export Scheme in the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2019(the Brexit Act). This scheme enables visitors that are resident outside the EU to benefit from VAT relief on goods...

Written Answers — Department of Finance: Exchequer Returns (3 Dec 2019)

Paschal Donohoe: I propose to take Questions Nos. 131, 132, 134 and 135 together. The Government decided in September that Budget 2020would be based on the assumption of a disorderly Brexit at end-October. Given the information available at the time this was the safest and most appropriate option to take. Since I published Budget 2020, the risk of the UK departing the EU this year without a deal has been...

Written Answers — Department of Finance: Fiscal Data (3 Dec 2019)

Paschal Donohoe: As the Deputy is aware the Department of Finance's macro-economic and fiscal projections currently cover the period to 2024. These set out that general government gross fixed capital formation will be c.2.5 per cent of GDP. Using the more appropriate measure of the Irish economy, this is equivalent to an average of 4.4 per cent of modified GNI (GNI*). The nominal amounts equivalent to 3 per...

Written Answers — Department of Finance: General Government Debt (3 Dec 2019)

Paschal Donohoe: My Department's latest forecasts, published in Budget 2020 Economic & Fiscal Outlook, project the cost of general government borrowing in each of the years 2020 to 2024. These costs are outlined in nominal terms in table 12 and the average interest rate is given in table 14. Forecasts for 2025 are not yet available. I have set out both in the following link for your convenience. ...

Written Answers — Department of Finance: Banking Sector (3 Dec 2019)

Paschal Donohoe: As the Deputy is aware, my Department in conjunction with the Department of Rural and Community Development, issued a report on Local Public Banking in Ireland last year. The report concluded that there is not a compelling case for the State to establish a new local public banking system based on the German Sparkassen model in Ireland. However, a commitment was given in the report that...

Written Answers — Department of Finance: VAT Rate Application (3 Dec 2019)

Paschal Donohoe: I propose to take Questions Nos. 138 to 141, inclusive, together. VAT on goods and services is subject to EU VAT law, with which Irish VAT law must comply. The VAT Directive provides that EU Member States may apply either one or two reduced rates of VAT to certain goods and services. As Ireland already has two reduced rates in place (9% and 13.5%), one would have to be removed before a new...

Written Answers — Department of Finance: Tax Code (3 Dec 2019)

Paschal Donohoe: For the purposes of Capital Acquisitions Tax (CAT), the relationship between the person who provides the gift or inheritance and the person who receives the gift or inheritance determines the lifetime tax-free threshold (the Group Threshold) below which gift or inheritance tax does not arise. CAT applies, at a rate of 33%, on the excess over the tax free threshold. As CAT is generally payable...

Written Answers — Department of Finance: Corporation Tax (3 Dec 2019)

Paschal Donohoe: There is no proposal currently under discussion with regard to a minimum effective corporate tax rate within the European Union. As the Deputy will be aware however, discussions on the concept of minimum effective corporate tax rates are currently underway at the OECD as part of wider work looking at the tax challenges of digitalisation. The discussions at OECD will likely feed into future...

Written Answers — Department of Finance: Legislative Measures (3 Dec 2019)

Paschal Donohoe: Twenty-eight Bills sponsored by the Department of Finance were enacted between 1 November 2013 and 30 November 2019, as per the table in the following link. ">Lists of Acts sponsored by Minister for Finance

Written Answers — Department of Finance: Banking Sector Data (3 Dec 2019)

Paschal Donohoe: In response to the Deputy’s question, the following table provides the current position in relation to the amounts injected into the State invested banks, cash received to date in the form of disposal proceeds, investment income and liability guarantee fee income, and the most up-to-date valuation of the remaining equity stakes: AIB BOI PTSB ...

Written Answers — Department of Finance: NAMA Bonds (3 Dec 2019)

Paschal Donohoe: The National Asset Management Agency (NAMA) was established in December 2009 as part of the State’s response to the 2008 banking crisis. NAMA paid the banks €31.8 billion for the assets it acquired with €30.2 billion of consideration provided by way of government guaranteed (senior) bonds and a further €1.6 billion in subordinated debt. NAMA redeemed all of its...

Written Answers — Department of Public Expenditure and Reform: Superannuation Schemes (3 Dec 2019)

Paschal Donohoe: The Additional Superannuation Contribution (ASC) is provided for under Part 4 of the Public Service Pay and Pensions Act 2017. Section 33 (1) defines a "relevant person" as follows: 33.(1) This section applies to a person-- (a) who-- (i) is a public servant on 1 January 2019, or (ii) is not a public servant on that date but after that date is appointed or otherwise becomes a public...

Written Answers — Department of Public Expenditure and Reform: Brexit Expenditure (3 Dec 2019)

Paschal Donohoe: The Brexit related expenditure of €1.2 billion for 2020 reflected in table 11 of the Economic and Fiscal Outlookis made up of the following: - Supports to sectors identified as most affected by Brexit; Agriculture, Enterprise and Tourism, and to help stabilise the worst affected regions; - Increased Social Protection expenditure on the Live Register and related schemes and labour...

Written Answers — Department of Public Expenditure and Reform: Government Expenditure (3 Dec 2019)

Paschal Donohoe: I propose to take Questions Nos. 149, 150 and 152 together. In setting out current expenditure ceilings, certain items of expenditure are classified as pre-committed and are included in the pre-Budget position. This includes allocations to cover demographic costs, public service pay agreements and full year costs of budget measures from previous years. Expenditure Report 2020 sets out...

Written Answers — Department of Public Expenditure and Reform: Cross-Border Projects (3 Dec 2019)

Paschal Donohoe: I propose to take Questions Nos. 153 and 154 together. As the Deputy is aware, the two cross-border cooperation programmes, PEACE and INTERREG, are important drivers of economic and social cohesion in the border region of Ireland and in Northern Ireland. The current €270 million 2014-20 PEACE programme (PEACE IV) supports peace and reconciliation via projects in the areas of...