Results 13,401-13,420 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Living Wage (24 Sep 2019)

Paschal Donohoe: I wish to inform the Deputy that 25 workers in the Department of Finance earn less than €12.30 per hour. Of the 17 bodies under the aegis of my Department, I am informed that 8 currently have no staff earning less than the living wage of €12.30 per hour. These are the Credit Review Office, the Credit Union Advisory Committee, the Credit Union Restructuring Board, the Disabled...

Written Answers — Department of Finance: Eurozone Issues (24 Sep 2019)

Paschal Donohoe: The European Fiscal Board (EFB) recently published its assessment of the EU’s fiscal rules. This report will feed into the European Commission’s review of the Six- and Two-pack which is due to be published by the end of the year. The EFB’s report was also discussed at the recent Ecofin meeting in Helsinki. The EFB’s report indicates that while compliance with...

Written Answers — Department of Finance: Budget Submissions (24 Sep 2019)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding 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: Insurance Industry (24 Sep 2019)

Paschal Donohoe: The Irish insurance sector is diverse, comprising life, non-life and reinsurance firms operating across a range of product and geographical markets. As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation of the sector. This framework is mainly governed by the EU Solvency II Directive, which provides for three ways in which an...

Written Answers — Department of Finance: Mortgage Interest Rates (24 Sep 2019)

Paschal Donohoe: The financial crash and its immediate aftermath had a significant impact on the Irish mortgage market, with a steep increase in mortgage arrears, a sharp slowdown in the rate of new mortgage lending and the withdrawal of some lenders from the Irish market. While there has been a considerable improvement in the overall economy and mortgage market since then, for example overall arrears have...

Written Answers — Department of Finance: Tax Exemptions (24 Sep 2019)

Paschal Donohoe: As previously advised to the Deputy in my reply to Parliamentary Question 27496-19, that where a person is in receipt of both a State pension and a private pension, any income tax that may be due in respect of the State pension is collected by reducing the income tax credits applied to the private pension. Revenue has advised me that it has re-examined the person’s tax position and...

Written Answers — Department of Finance: National Economic Dialogue (24 Sep 2019)

Paschal Donohoe: The fifth National Economic Dialogue took place on June 26thand 27ththis year. The Dialogue plays an integral part in the preparations for Budget 2020 and provided an opportunity to consider how best to optimise available resources in the interests of all citizens. The Dialogue provided an opportunity to foster discussion between stakeholders on how to sustain and strengthen the recovery...

Written Answers — Department of Finance: European Council Meetings (24 Sep 2019)

Paschal Donohoe: At a meeting of the Eurogroup in inclusive formation on 13 June, my Euro area colleagues and I agreed on a term sheet that outlines the general principles and features of a budgetary instrument for competitiveness and convergence. Its aim is to support reform and investment projects that strengthen competitiveness and convergence in the euro area. We also agreed that the size of financial...

Written Answers — Department of Finance: European Council Meetings (24 Sep 2019)

Paschal Donohoe: At the ECOFIN meeting on 14thJune the discussion on the European Commission’s assessment of the compliance of Member States with the Stability Growth Pact (SGP), specifically for Belgium, Cyprus, France and Italy, was deferred to a future meeting. On 2ndJuly Italy wrote to the European Commission setting out its updated projections for the public finances in 2019, advising the...

Written Answers — Department of Finance: National Economic Dialogue (24 Sep 2019)

Paschal Donohoe: The fifth National Economic Dialogue (Dialogue) took place on June 26thand 27ththis year. The dialogue is an important part of the budgetary process and aims to foster discussion on how best to sustain and strengthen the economy while addressing the many competing economic and social priorities within the limited resources available. My opening remarks on Understanding the Context: Economic...

Written Answers — Department of Finance: National Economic Dialogue (24 Sep 2019)

Paschal Donohoe: The fifth National Economic Dialogue (Dialogue) took place on June 26thand 27ththis year. The dialogue is an important part of the budgetary process and aims to foster discussion on how best to sustain and strengthen the economy while addressing the many competing economic and social priorities within the limited resources available. My opening remarks on Understanding the Context: Economic...

Written Answers — Department of Finance: Financial Services Regulation (24 Sep 2019)

Paschal Donohoe: Section 32D of the Central Bank Act provides that, with the approval of the Minister for Finance, the Central Bank Commission may make regulations requiring regulated firms to pay a levy in respect of the cost of regulation. The Central Bank is moving on a trajectory that will see all regulated financial firms, with the exception of Credit Unions, paying 100% of the cost of regulation by...

Written Answers — Department of Finance: Corporate Governance (24 Sep 2019)

Paschal Donohoe: Statutory Instrument 110 of 2019, the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019, was signed into law on 22 March 2019. These Regulations transpose Article 30 of the Fifth Anti-Money Laundering Directive and maintain the obligation, first established in 2016, for corporate entities to obtain and hold information on their beneficial...

Written Answers — Department of Finance: Corporation Tax (24 Sep 2019)

Paschal Donohoe: Corporation Tax Loss Relief is provided for by Section 396 of the Taxes Consolidation Act (TCA) 1997. It allows for losses incurred in the course of business to be accounted for when calculating a business’ tax liabilities. Loss relief is a long standing feature of the Irish Corporate Tax system and is a standard feature of Corporation Tax systems in all OECD countries. Loss relief is...

Written Answers — Department of Finance: Fuel Traders Licences (24 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 89 and 116 together. A licence to sell diesel and marked gas oil can be granted in the absence of a ‘Dangerous Substance Licence’ being issued by the Local Authority. However, the licence can only issue where the conditions set down in Section 101 of Finance Act 1999 (as amended) are fully met. This includes a restriction on storing or selling...

Written Answers — Department of Finance: Property Tax Data (24 Sep 2019)

Paschal Donohoe: I am advised by Revenue that the amount of Local Property Tax (LPT) collected, broken down by Local Authority area since its introduction in 2013, for the years 2013 to 2018, is available on the Revenue website at link: . Information in respect of LPT collected, broken down by Local Authority area for 2019 to date is available at link:

Written Answers — Department of Finance: Tax Data (24 Sep 2019)

Paschal Donohoe: I am advised by Revenue that the estimated additional revenue that could be raised in a full year from the proposed increases are shown in the following table. These estimates are based on the trends in diesel cars in 2019 and do not take into account any subsequent change in behaviour due to the increased duty on diesel cars. However, given the large increases proposed it is highly unlikely...

Written Answers — Department of Finance: Tax Data (24 Sep 2019)

Paschal Donohoe: I am advised by Revenue that the estimated revenue in a full year from the proposed increases are as follows: € 0.01 0.02 0.03 0.04 0.05 €m 28 55 83 110 137

Written Answers — Department of Finance: Tax Data (24 Sep 2019)

Paschal Donohoe: The cost of the diesel rebate scheme in any given year is variable, depending on the volumes of claims and the quarterly rebate rates used. Therefore it is not possible to give an estimate of the additional revenue that would accrue were the diesel rebate scheme to be scrapped. The highest annual cost of the scheme was €21m while the lowest annual costs of the scheme was zero.

Written Answers — Department of Finance: Tax Data (24 Sep 2019)

Paschal Donohoe: The savings generated would be entirely dependent on the volumes of claims and the quarterly rebate rates used, which is dependent on the retail price of diesel. All of these variables will likely fluctuate from quarter to quarter and from year to year.