Results 13,061-13,080 of 32,610 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Revenue Commissioners Investigations (23 Oct 2019)

Paschal Donohoe: I am advised by Revenue that its clear preference is to engage with taxpayers experiencing tax payment difficulties and to agree mutually acceptable solutions, rather than deploying debt collection/enforcement sanctions. Where there is no engagement, or where there is a lack of commitment to achieving a mutually acceptable arrangement, then Revenue is left with no option but to use its...

Written Answers — Department of Finance: General Government Debt (23 Oct 2019)

Paschal Donohoe: The exchequer balance is the domestic budgetary aggregate which measures the net surplus or deficit position (the difference between cash inflows and outflows) of central government’s main treasury account, the Central fund. The general government balance (GGB) is an EU national accounting aggregate which measures the net surplus or deficit position of all arms of Government, i.e....

Written Answers — Department of Public Expenditure and Reform: Public Sector Staff Data (23 Oct 2019)

Paschal Donohoe: The authorities responsible for the administration of the large number of pension schemes operating in the various sectors of the Irish public service are, in general, the relevant employers and Ministers in those sectors. It would be a matter for those sectorial authorities, including relevant Ministers, to supply such information as may be available in respect of the number of retirees in...

Written Answers — Department of Public Expenditure and Reform: Estimates Publication (23 Oct 2019)

Paschal Donohoe: Section 1.1.5, on pages 47 to 49 of Expenditure Report 2020, sets out detail in relation to potential Supplementary Estimates for this year based on the information available at that point in time. This section of the Expenditure Report provides a reconciliation between the net voted expenditure amounts in the Revised Estimates for Public Services 2019 and the White Paper -...

Written Answers — Department of Finance: Retail Sector (22 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 142 and 159 together. The provision concerning the restrictions and conditions that may be applied to the Retail Export Scheme in the event of a no-deal Brexit was included in the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2019, which became law on March 17 of this year.  At that time, I made clear my...

Written Answers — Department of Finance: Insurance Costs (22 Oct 2019)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Help-To-Buy Scheme (22 Oct 2019)

Paschal Donohoe: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation.    Section 477C of the...

Written Answers — Department of Finance: Insurance Costs (22 Oct 2019)

Paschal Donohoe: I am aware of the issues facing many small businesses when it comes to the affordability and availability of insurance. Neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Tax Code (22 Oct 2019)

Paschal Donohoe: I am satisfied that, in the context of limited resources, the tax code already recognises those who have contributed to the State for a long period through measures that reduce the amount of tax that such persons pay in retirement. For example, a person aged 65 and over is fully exempt from income tax where his or her total income from all sources is less than the relevant exemption...

Written Answers — Department of Finance: Tax Code (22 Oct 2019)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is the overall title for both gift and inheritance tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. CAT at a rate of 33% applies on the excess over the tax free threshold. There are, in all, three separate Group thresholds based on the relationship of the beneficiary to the disponer. Group Athreshold...

Written Answers — Department of Finance: VAT Rate Application (22 Oct 2019)

Paschal Donohoe: As the Deputy is aware, the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Irish VAT legislation does not provide a zero rate for food supplement products; instead there is a legislative provision for zero rating food and drink.  Article 110 of the VAT Directive 2006/112 is the basis for the zero rate for food in Irish...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Capital (22 Oct 2019)

Paschal Donohoe: The commencement of the Rainy Day Fund (RDF) will involve the transfer of €1.5 billion from the Ireland Strategic Investment Fund (ISIF). My initial intention had been to supplement this with a transfer of an additional €500 million from the Exchequer. Under the disorderly Brexit scenario in which Budget 2020 was framed, the Exchequer will run a Budget deficit of 0.6 per...

Written Answers — Department of Finance: Insurance Compensation Fund (22 Oct 2019)

Paschal Donohoe: Setanta Insurance ("Setanta") was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law. I am very conscious of the effect of the delays in the payment of compensation to Setanta third party claimants, and this is one of the reasons why the Government brought...

Written Answers — Department of Finance: Value for Money Reviews (22 Oct 2019)

Paschal Donohoe: In the Details Supplied the Deputy refers to the Revised Estimates 2019 which provides for expenditure for the year 2019, in the body of the question the Deputy refers to expenditure made during 2018. In 2018 the REV provided an allocation of €50,000 in the administration category for consultancy services. Under this heading my Department incurred no costs. In 2019 the REV provided an...

Written Answers — Department of Finance: Value for Money Reviews (22 Oct 2019)

Paschal Donohoe: The Department of Public Expenditure and Reform's 'Public Spending Code' sets out the rules and procedures that apply to ensure that value for money standards are upheld across the Irish public service. No projects were carried out with expenditure levels above the various thresholds as set out in this policy, therefore no value for money...

Written Answers — Department of Finance: Budget Measures (22 Oct 2019)

Paschal Donohoe: Prior to the publication of Budget 2020, the Departments of Finance and Public Expenditure and Reform prepared an analysis on the distributional impacts of the direct tax, indirect tax and welfare measures contained in the budget using the ESRI's SWITCH micro-simulation model. The model cannot take account of the rural/urban split but found that on average the first three...

Written Answers — Department of Finance: Insurance Coverage (22 Oct 2019)

Paschal Donohoe: As previously indicated the OPW flood maps are community based ones and provide a useful resource for planning, however they cannot be used for commercial purposes. The Disclaimer and Conditions for Use of OPW Flood Maps on floodinfo.ie includes a provision that states specifically that users of the website must not use the flood maps, or any other content of the website, for commercial...

Written Answers — Department of Finance: Fiscal Policy (22 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 155 to 158, inclusive, together. Budget 2020 was presented on the basis of a disorderly exit by the United Kingdom (UK) from the European Union (EU). Given uncertainty around the manner and timing of the UK’s departure this was the correct approach to take. Should the UK leave the EU on an orderly basis, Ireland’s fiscal position will, inter...

Written Answers — Department of Finance: Tax Code (22 Oct 2019)

Paschal Donohoe: There are no income tax credits or exemptions that are specifically ring-fenced to single people who are under 25 years of age.  However, depending on their circumstances, they are likely able to benefit from a number of income tax credits and exemptions that are generally available.  For example, it is likely that they would be entitled to the Personal Tax Credit of €1,650...

Written Answers — Department of Finance: Tax Reliefs Availability (22 Oct 2019)

Paschal Donohoe: Tax relief for Trade Union subscriptions was previously provided for under section 472C of the Taxes Consolidation Act 1997. The relief was introduced in 2001 and abolished from 2011 onwards. A review of the appropriate treatment for tax purposes of trade union subscriptions and professional body fees was carried out by my Department in 2016 and included in the 2016 report on tax...