Results 13,601-13,620 of 32,547 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Gender Proofing of Policies (6 Sep 2019)

Paschal Donohoe: My Department, as well as the Department of Employment Affairs and Social Protection, the Department of Health, the Department of Children and Youth Affairs, and the Department of Public Expenditure and Reform represent the main stakeholders in the ESRI's Simulating Welfare and Income Tax Changes (SWITCH) model. The ESRI developed this tax and benefit micro simulation model in the 1990s...

Written Answers — Department of Finance: Tax Code (6 Sep 2019)

Paschal Donohoe: I am advised by Revenue that the estimated temporary cash flow impact on Exchequer receipts, of increasing the threshold at which businesses must use the invoice system as opposed to cash receipts system for VAT by €100,000, €500,000, €1 million and €2 million is provided in the following table. Increase New Threshold Cost (€million) €100K...

Written Answers — Department of Finance: VAT Rebates (6 Sep 2019)

Paschal Donohoe: I am advised by Revenue that the VAT Consolidation Act of 2010 allows retailers to make repayments of VAT to travellers, under certain conditions; Revenue has no role in processing these repayments.  Operating the scheme is optional for a retailer and any repayment to a traveller may be processed directly by the retailer or through an agent by agreement with the retailer. The...

Written Answers — Department of Finance: Irish Collective Asset Management Vehicles (6 Sep 2019)

Paschal Donohoe: Irish Collective Asset-management Vehicles (ICAVs) incorporated under the ICAVs Act 2014 are currently required to locally hold information on their beneficial ownership as specified in SI 110 of 2019. Legal entities incorporated under the Companies Act and the Industrial and Provident Societies Acts 1893 to 2014, are required to centrally file their beneficial ownership...

Written Answers — Department of Finance: Tax Forms (6 Sep 2019)

Paschal Donohoe: I am advised by Revenue that it offers a wide range of online and other service options to support taxpayers in voluntarily complying with their tax and duty obligations.  The online services including for example, ‘Myaccount’, Revenue Online Service’ (ROS), eTax Clearance and 'MyEnquiries' are fully secure and available on a 24/7 basis. The systems are also...

Written Answers — Department of Finance: Tax Code (6 Sep 2019)

Paschal Donohoe: Couples under the age of 65 are liable to tax under the normal system of rate bands and tax credits, and their own personal circumstances will determine their tax-free income thresholds for the year(s) in question. Further information is available on the Revenue website at . A person aged 65 and over is fully exempt from income tax where his or her total income from all sources is less than...

Written Answers — Department of Finance: Bankruptcy Data (6 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 84 and 85 together. 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 to secure payment of outstanding liabilities. In general, Revenue petitions for bankruptcy to the High-Court as a last...

Written Answers — Department of Finance: Tax Code (6 Sep 2019)

Paschal Donohoe: Section 847A of the Taxes Consolidation Act 1997 provides for Donations to certain sports bodies. The current eligibility threshold for donations to sports capital projects is €250. The relief is based on the entire donation, not just on the portion exceeding €250. The most recent data available, relating to 2017, indicate that the relief costs €0.3 million. ...

Written Answers — Department of Finance: Summer Economic Statement (6 Sep 2019)

Paschal Donohoe: The margin of compliance with the expenditure benchmark can be found in row n of Table A1 in Annex 1 of the Summer Economic Statement (SES). This assessment is consistent with the estimates published as part of the Stability Programme Update (SPU) 2019 and further takes into account the orderly Brexit scenario ('Scenario A'). As the Deputy will appreciate, the SES consists of...

Written Answers — Department of Finance: Summer Economic Statement (6 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 88 and 90 together. Simplistically, adding the nominal general government balance (GGB) presented in Table 6 of the Summer Economic Statement 2019 (SES) to the indicative nominal budgetary package would result in the nominal budgetary package increasing by the same amount and the GGB accordingly falling to zero each year, all else being equal. ...

Written Answers — Department of Finance: Summer Economic Statement (6 Sep 2019)

Paschal Donohoe: Forecasts of the main economic and fiscal variables (including the structural balance) were published in the Stability Programme Update (SPU) 2019 in April. These forecasts are consistent with the baseline budgetary package (i.e. €2.8 billion). Revised forecasts will be published by my Department in October alongside the Budget. The Summer Economic Statement (SES) 2019 sets out two...

Written Answers — Department of Finance: Summer Economic Statement (6 Sep 2019)

Paschal Donohoe: The Exchequer Borrowing Requirement (EBR) is a bottom-up forecast based on updated macroeconomic forecasts endorsed by the Irish Fiscal Advisory Council (IFAC). The forecast is conducted twice annually; in Spring, in advance of the Stability Programme Update, and again in Autumn, in advance of the Budget. Therefore there is no EBR forecast corresponding to Summer Economic Statement...

Written Answers — Department of Finance: Tax Data (6 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 92 to 95, inclusive, together. I am informed by Revenue that there is no requirement to report interest on crowdfunding loans separately to other interest on tax returns, or for investors to report details of loans made via crowdfunding in their income tax returns. Therefore, there is no basis on which to provide the information sought.

Written Answers — Department of Finance: Departmental Websites (6 Sep 2019)

Paschal Donohoe: In relation to my Department, I wish to advise that ICT services are provided by the Office of the Government Chief Information Officer (OGCIO) under the Department of Public Expenditure and Reform. Government department websites are currently undergoing a significant change in how they present online content to citizens and businesses, with a view to making them easier to use and more...

Written Answers — Department of Finance: Departmental Expenditure (6 Sep 2019)

Paschal Donohoe: My Department uses Lotus Notes for a small number of legacy systems for which perpetual licenses were purchased prior to 2009.  Accordingly, the Lotus Notes licenses held by my Department have not been renewed in the period 2009 to date.  Therefore no expenditure on licences has been incurred during this time, nor are there currently any plans to do so.

Written Answers — Department of Finance: Departmental Surveys (6 Sep 2019)

Paschal Donohoe: Officials from the Department of Finance and the ESRI published a paper in 2016 titled “Scenarios and Distributional Implications of a Household Wealth Tax in Ireland”, within which the table referenced by the Deputy was presented. The data are drawn from the first wave of the Household Finance and Consumption Survey (HFCS), which the CSO carried out in 2013 and results of...

Written Answers — Department of Finance: Debt Repayments (6 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 99 to 101, inclusive, together. The UK bilateral loan is a sterling loan which was drawn down in eight equal tranches of £0.4bn. The first tranche was drawn in October 2011 and the last in September 2013. At its peak, the loan totalled £3.2bn. Each tranche is repayable seven and a half years after disbursement. Principal repayments are made in...

Written Answers — Department of Finance: Tax Credits (6 Sep 2019)

Paschal Donohoe: The cost of an increase to the Home Carer Tax credit of €50 is shown in Revenue’s Ready Reckoner available at . The current maximum value of the HCC is €1,500. The costs of increasing the credit as requested by the Deputy can be calculated on a straight-line basis and are set out in the following table: Home Carer Credit – Maximum Value First Year Cost of...

Written Answers — Department of Finance: Brexit Preparations (6 Sep 2019)

Paschal Donohoe: I propose to take Questions Nos. 103, 104 and 154 together. I am advised by Revenue that it is actively engaging with businesses regarding Brexit through a multi-layered comprehensive trader engagement programme. The programme is designed to maximise trader understanding of the potential impact of Brexit and to support and encourage businesses to take the practical steps necessary to be...

Written Answers — Department of Finance: Stamp Duty (6 Sep 2019)

Paschal Donohoe: I am advised by Revenue that the Stamp Duty Refund scheme was introduced in respect of non-residential land that was purchased on or after 11 October 2017 at the increased Stamp Duty rate of 6% and subsequently developed for residential purposes. The scheme was intended to incentivise the building of houses and apartments following the increase in the rate of Stamp Duty on the purchase of...