Results 13,041-13,060 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Public Expenditure and Reform: Departmental Correspondence (17 Oct 2019)

Paschal Donohoe: I wish to advise the Deputy that a deferred reply will be issued to him in respect of this Parliamentary Question, in line with Standing Order 42A.

Written Answers — Department of Public Expenditure and Reform: Capital Expenditure Programme (17 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 99 to 101, inclusive, together. Due to the nature of its role, my Department has had no major capital projects over €100 million funded through its own Vote in the past five years, nor is it expected to have any such projects in the next five years. As part of the ongoing reform of Ireland’s public investment management systems,...

Written Answers — Department of Finance: Tax Rebates (16 Oct 2019)

Paschal Donohoe: In my Budget 2020 speech, I announced an increase from €20 to €26 in the carbon tax.  Following the approval of the Dáil, this increase has been applied to Mineral Oil Tax (MOT) rates for mineral oils used as auto-fuels (for cars and trucks) from midnight on 9 October 2019. All other MOT rates remain at their current levels until 1 May 2020 when new rates will...

Written Answers — Department of Finance: Credit Union Data (16 Oct 2019)

Paschal Donohoe: Further to Parliamentary Question No. 57 of 3 October 2019, I have been informed by the Central Bank that credit unions provide information on ‘Investments by Counterparty’ on their quarterly Prudential Return. Based on data provided by credit unions on the June 2019 Prudential Return credit unions hold c.€13 billion in deposits and investments with c....

Written Answers — Department of Finance: Budget 2020 (16 Oct 2019)

Paschal Donohoe: In Budget 2020 I announced policy changes to a number of taxation measures with the objective of supporting Enterprise, SMEs and the Agri-sector. This package of measures included the Key Employee Engagement Programme (KEEP), the Employment and Investment Incentive (EII), the Special Assignee Relief Programme (SARP), the Foreign Earnings Deduction (FED) and the...

Written Answers — Department of Finance: Employment and Investment Incentive Scheme (16 Oct 2019)

Paschal Donohoe: I understand that the Deputy is referring to the Budget 2020 change to increase the annual investment limit for the Employment and Investment Incentive (EII) from €150,000 to €250,000.  I am advised by Revenue that, taking that proposed change into account, the estimated cost to the Exchequer of increasing the annual investment limit to the amounts indicated by...

Written Answers — Department of Finance: Tax Credits (16 Oct 2019)

Paschal Donohoe: I am advised by Revenue that the first and full year costs of further increasing the Earned Income Tax Credit by €150, to equalise the level with the PAYE Credit, are estimated to be in the order of €20m and €35m respectively.

Written Answers — Department of Finance: Tax Credits (16 Oct 2019)

Paschal Donohoe: It is assumed that the Deputy is referring to the Budget 2020 change to increase the Research and Development (R&D) tax credit from 25% to 30% on qualifying expenditure for relevant micro and small companies. This measure is being introduced subject to State aid approval. I am advised by Revenue that the estimated cost of increasing the rate from 30% to the levels indicated by the...

Written Answers — Department of Finance: Stability and Growth Pact (16 Oct 2019)

Paschal Donohoe: The reporting of government spending under the Stability and Growth Pact obligations is classified according to the European System of Accounts 2010 (ESA 2010) framework. To avoid penalising spikes in government investment in Gross Fixed Capital Formation (GFCF), the European Commission allows this investment to be averaged over a four year period. This means that only one...

Written Answers — Department of Finance: Tribunals of Inquiry Reports (16 Oct 2019)

Paschal Donohoe: The Moriarty Tribunal made a number of recommendations which affected a number of Government Departments.  As Minister for Finance, I can only respond in relation to the recommendations made in relation to my own Department. As the Deputy will be aware, the tribunal pointed out problems to be addressed in our system of financial regulation.  Poor supervision, an overly-deferential...

Written Answers — Department of Finance: VAT Rate Application (16 Oct 2019)

Paschal Donohoe: The standard rate of VAT applies to food supplement products. 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...

Written Answers — Department of Finance: Real Estate Investment Trusts (16 Oct 2019)

Paschal Donohoe: Finance Act 2013 introduced the regime for the operation of Real Estate Investment Trusts (REITs) in Ireland. The function of the REIT framework is not to provide an overall tax exemption but rather to facilitate collective investment in rental property by removing a double layer of taxation which would otherwise apply on property investment via a corporate vehicle. A number of amendments...

Written Answers — Department of Finance: Stamp Duty (16 Oct 2019)

Paschal Donohoe: Budget 2020 introduced a measure to impose a stamp duty charge where the acquisition of a (target) company is effected by means of a particular type of scheme of arrangement under Part 9 of the Companies Act 2014, which came into effect on 9 October 2019 by way of financial resolution.  This type of scheme of arrangement involves the (target) company entering into an arrangement whereby...

Written Answers — Department of Finance: Stamp Duty (16 Oct 2019)

Paschal Donohoe: Section 83D of the Stamp Duties Consolidation Act 1999 provides for a refund (through the Residential Development Stamp Duty Refund Scheme) of up to two thirds, where the rate of Stamp Duty paid on the transfer of non-residential land is 6%, and the land is used to develop dwelling units. I am advised by Revenue that the number of persons that have applied for a refund under the Scheme...

Written Answers — Department of Finance: Tax Code (16 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 94 and 95 together. 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...

An tOrd Gnó - Order of Business (15 Oct 2019)

Paschal Donohoe: I can deal with the poverty-proofing of the budget. The Department of Public Expenditure and Reform looked at the impact of the budget on different income groups. Our analysis was that the budget would not have a regressive impact on the vast majority of people. The ESRI's analysis, to which the Deputy referred, did not take account of service improvements.

An tOrd Gnó - Order of Business (15 Oct 2019)

Paschal Donohoe: For example, it did not take account of the changes in the national childcare scheme. It focused on matters from a purely income distribution point of view. It did not look at any service improvements that the budget is looking to deliver.

An tOrd Gnó - Order of Business (15 Oct 2019)

Paschal Donohoe: I am happy to make that information available.

Written Answers — Department of Finance: NAMA Portfolio (15 Oct 2019)

Paschal Donohoe: As the Deputy may be aware, NAMA does not own property, rather NAMA has acquired loans for which properties act as security. I am advised by NAMA that its debtors and receivers control a small number of properties in Newbridge, County Kildare.  Under Sections 99 and 202 of the NAMA Act, NAMA is prohibited from disclosing confidential debtor information, including information on...

Written Answers — Department of Finance: Tax Reliefs Data (15 Oct 2019)

Paschal Donohoe: Section 50 of Finance Act 1999 provided for a student accommodation scheme whereby expenditure incurred on student rental accommodation can be set against the rental income from the property and against other Irish rental income, thus reducing the taxable income of the person incurring the expenditure. The relevant provisions in the Taxes Consolidation Act 1997 are contained in Part...