Results 13,161-13,180 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Consumer Protection (3 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 50, 66 and 68 together. The Central Bank has responsibility for consumer protection in the industry insurance under consumer protection legislation of general application in the form of the Consumer Protection Act 2007 and the Regulations that give effect to the Directive on unfair terms in consumer contracts as well as under provisions specific to...

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

Paschal Donohoe: I met with Sir Howard Davies, Chair of the Royal Bank of Scotland (RBS), and Ms. Jane Howard, Chief Executive of its subsidiary, Ulster Bank on 18th July last.  This meeting was in line with the regular meetings that I have with the Chairs and Chief Executives of the retail banks operating in Ireland. Similarly to other meetings with retail banks, the meeting involved a...

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

Paschal Donohoe: The tax system contains a number of measures designed to assist businesses at various stages, including business start-up reliefs, entrepreneur reliefs and incentives to assist businesses to undertake research and development activities.  Summary details of some of the main measures are set out below, and further information is available on the Revenue website at . CGT Entrepreneur...

Written Answers — Department of Finance: NAMA Property Construction (3 Oct 2019)

Paschal Donohoe: The Deputy will be aware that I, as Minister for Finance, have no role in respect of NAMA’s operations and decisions, or in properties securing its loans. However, in this instance, I am advised by NAMA that it has never had involvement with the referenced site.

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

Paschal Donohoe: As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: VAT Exemptions (3 Oct 2019)

Paschal Donohoe: As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Central Bank of Ireland Enforcement Actions (3 Oct 2019)

Paschal Donohoe: Following the introduction of the Central Bank (Supervision and Enforcement) Act 2013 (the ‘2013 Act’), the Central Bank was provided with a range of enforcement tools to deal with the unauthorised provision of financial products or services (i.e. by an unauthorised entity).   These tools include the power to publish warning notices in respect of all types of...

Written Answers — Department of Finance: Credit Unions (3 Oct 2019)

Paschal Donohoe: The Central Bank has advised that the regulatory requirements for credit union investments are outlined in Part 5 of the Credit Union Act 1997 (Regulatory Requirement) Regulations 2016 (2016 Regulations). The 2016 Regulations list the permitted classes of investments for credit unions which includes certain investments with credit institutions where ‘credit...

Written Answers — Department of Finance: Electric Vehicle Grants (3 Oct 2019)

Paschal Donohoe: Revenue estimate that expenditure on bicycles is approximately €62 million per annum including VAT. A breakdown between manual and electric is not available. Therefore the full year cost of grants covering all bicycles would be approximately €62 million. At the current rate of VAT at 23%, this would mean a grant equivalent to a 100% VAT rebate would cost approximately...

Written Answers — Department of Finance: Brexit Data (3 Oct 2019)

Paschal Donohoe: I am advised by Revenue that in 2019 to date there have been 18,563 EORI registrations. Details of annual EORI registrations since 2009 are available in the following Table 1. There has been a significant increase in registrations since the start of the latest phase of Revenue’s Trader Engagement Programme which commenced in July of this year. Almost 5,000 businesses registered in...

Written Answers — Department of Finance: Tax Yield (3 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 60 and 61 together. The information that the Deputy has requested in respect of corporation tax receipts and their percentage of the total tax date, since 2010, is provided below in tabular form. Year CT (€ millions) As a % of Total Tax Take 2010 3,924 12.4 2011 3,520 10.3 2012 4,216 11.5 2013 4,270 11.3 2014 4,614 11.2 2015 6,872 15.1...

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

Paschal Donohoe: The OECD work on addressing the tax challenge of digitalisation, which has been referred to as the BEPS 2 project, is ongoing.  A Programme of Work was published early this year and the intention is to find consensus for a broad approach during 2020.  Further work would then be required to implement any agreement that is reached both domestically and...

Written Answers — Department of Finance: Trade Data (3 Oct 2019)

Paschal Donohoe: The Central Statistics Office’s (CSO) statistical releases on external trade show that in 2018 Ireland exported €16.1 billion worth of goods to the UK, and imported €20.0 billion worth of goods from the UK. This represents 11 per cent of total goods  exports and 22 per cent of total  goods imports. In 2017, the latest year for which goods and services data...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (3 Oct 2019)

Paschal Donohoe: The cost of the Help to Buy incentive in each year, over the period 19 July 2016 to end August 2019, (the most recent month for which data are available) is as follows:  Year Cost (€M) 2019* 64.3 2018 73.2 2017 50.2 2016 18.7 *To end August 2019 The number of claims made for HTB in each year is outlined in the table below.  It should be...

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

Paschal Donohoe: It is assumed the Deputy is referring to Capital Gains Tax (CGT) Entrepreneurial Relief provided for in section 597AA of the Taxes Consolidation Act 1997. Statistics on the numbers availing of the Relief, and the cost to the Exchequer, are available at link . The most recent year for which data are presently available is 2017 with a cost of €81.8 million covering 875 tax units. In...

Written Answers — Department of Finance: Insurance Industry Regulation (3 Oct 2019)

Paschal Donohoe: The Solvency II Directive is the principal piece of legislation dealing with the regulation of the insurance industry in the European Union, and applies to almost all insurers and reinsurers. It has both a prudential and a consumer protection dimension to it. It was transposed into Irish law as the European Union (Insurance and Reinsurance) Regulations 2015 (S.I. 485 of 2015) and the...

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

Paschal Donohoe: I am advised by Revenue that companies granted qualifying share options to 87 key employees under the Key Employee Engagement Programme during 2018 (the first year of the scheme). Generally, a key employee must hold the option for 12 months prior to exercise and may exercise it at any time up to 10 years after the date of grant. Therefore, 2019 is the earliest year in which individuals may...

Written Answers — Department of Finance: Employment and Investment Incentive Scheme Data (3 Oct 2019)

Paschal Donohoe: I am advised by Revenue that the number of investors who availed of the Employment and Investment Incentive (EII) Scheme, and its cost to the Exchequer in each year, can be found on page 5 of the EII statistics report on Revenue’s webpage at link: . The following table sets out the information in tabular form for each year to 2017 (the most recent years for which statistics are...

Written Answers — Department of Finance: Knowledge Development Box (3 Oct 2019)

Paschal Donohoe: I propose to take Questions Nos. 71 and 72 together. I am advised by Revenue that the most recent data on the annual cost and the number of claimants of the Knowledge Development Box (KDB) for the years 2016 and 2017 are published on page 18 of Revenue’s paper on 2018 Corporation Tax payments and 2017 Corporation Tax returns. This information is available at . In this regard, the...

Written Answers — Department of Finance: Motor Insurance Costs (3 Oct 2019)

Paschal Donohoe: At the outset, it is important to note that as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation and my Department does not collect the type of information being sought by the Deputy. It is very difficult to compare insurance costs across Europe due to differences in legal and regulatory systems in each member state....