Results 14,361-14,380 of 32,569 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Cycle to Work Scheme (18 Jun 2019)

Paschal Donohoe: The Cycle To Work scheme provides an exemption from tax on the first €1,000 of expenditure incurred by an employer in connection with the provision of a bicycle or safety equipment to an employee or director. The bicycle must be for the employee/director’s personal use in undertaking the whole or part of the journey to or from work. Safety equipment includes helmets, lights,...

Written Answers — Department of Finance: European Central Bank (18 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 128 and 146 together. The President of the European Central Bank, Prof. Mario Draghi, is due to step down on 31 October this year. The selection process to appoint a candidate to succeed Prof Draghi will open when the President of the Eurogroup will invite nominations for the position. Following receipt of nominations the name(s) will be discussed at Eurogroup...

Written Answers — Department of Finance: Tracker Mortgage Examination (18 Jun 2019)

Paschal Donohoe: I understand that the Central Bank has clearly set out its expectations of lenders to provide appropriate redress and compensation to affected customers in its documented Principles for Redress published in December 2015. The principles provide, inter alia,that “Any tax liability that impacted customers may incur as a result of the relevant issue in or respect of any redress,...

Written Answers — Department of Finance: Tax Residency (18 Jun 2019)

Paschal Donohoe: I am advised by Revenue that a hard-copy Letter of Residence recently issued to the person in question. The person originally applied for the Letter of Residence through the postal system and subsequently made an online request. Following the online request, an electronic copy issued to their 'MyAccount' service. Unfortunately, the person was not aware that the electronic version had issued...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Remit (18 Jun 2019)

Paschal Donohoe: The SBCI is Ireland’s national promotional institution. The purpose of the SBCI is to deliver effective financial supports to Irish SMEs to address gaps and potential failures in the Irish SME finance market as well as encouraging competition and innovation, and facilitating the efficient and effective use of EU resources and financial instruments. The SBCI achieves this through the...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Data (18 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 132 and 133 together. The Strategic Banking Corporation of Ireland (SBCI) is Ireland’s national promotional institution. The purpose of the SBCI is to deliver effective financial supports to Irish SMEs to address gaps and potential failures in the Irish SME finance market as well as encouraging competition and innovation, and facilitating the efficient...

Written Answers — Department of Finance: Financial Services Regulation (18 Jun 2019)

Paschal Donohoe: The Central Bank's total funding requirement for financial regulation activity is determined on an annual basis by the resources required to discharge its legal responsibilities under domestic and EU law. Section 32D and 32E of the Central Bank Act 1942, as amended, provide that the Central Bank Commission may make regulations relating to the imposition of levies and fees on the financial...

Written Answers — Department of Finance: Irish Fiscal Advisory Council Reports (18 Jun 2019)

Paschal Donohoe: I can confirm for the Deputy that I have received a copy of the Fiscal Assessment Report (FAR)as published by the Irish Fiscal Advisory Council on Tuesday, 11thJune. In keeping with established practice, I will provide a formal response which will issue in due course. In terms of the Council’s assessment of the Stability Programme Update 2019 (SPU), I note its assertion that the...

Written Answers — Department of Finance: Brexit Issues (18 Jun 2019)

Paschal Donohoe: The decision of the UK to leave the European Union gives rise to unprecedented challenges for Ireland across all economic sectors. The Government have taken steps to maximise the resilience of the economy so that it may effectively manage the negative economic developments. National budgets have been framed to prepare for the challenge of Brexit. Budget 2019 maintained the overall...

Written Answers — Department of Finance: Tax Code (18 Jun 2019)

Paschal Donohoe: Ireland has been consistently successful over several decades in attracting leading multinationals to base here and given our high level of integration with the global economy, it is not altogether surprising that our corporation tax base has become concentrated, as it has been for a number of decades. Nonetheless, I would acknowledge that there are risks associated with this increase in...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (18 Jun 2019)

Paschal Donohoe: As the Deputy will be aware, under the Fiscal Responsibility Act 2012, the Irish Fiscal Advisory Council (IFAC) has been assigned the monitoring and assessment functions required of an independent national fiscal institution under the Treaty on Stability, Co-ordination and Governance in the Economic and Monetary Union. The Act requires IFAC to “provide an assessment of whether the...

Written Answers — Department of Finance: Central Bank of Ireland Data (18 Jun 2019)

Paschal Donohoe: I am advised by the Central Bank of Ireland that the compilation notes for the mortgage arrears statistics define PDH and BTL mortgages as follows: Principal Dwellings (PDH): Mortgage loans to private individuals for house or apartment purchase, renovation, improvements or own construction of housing, fully and completely secured by mortgage on the residential property, which is or will be...

Written Answers — Department of Finance: Departmental Funding (18 Jun 2019)

Paschal Donohoe: Withdrawals from the fund as provided for under the National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018 will be to the Exchequer and any expenditures will be subject to the normal public financial procedures. The Fiscal Responsibility Act 2012 imposes a duty on the Government to endeavour to comply with the fiscal rules. The National Surplus (Reserve Fund for...

Written Answers — Department of Finance: General Government Debt (18 Jun 2019)

Paschal Donohoe: General Government Debt (GGD) is a measure of the total gross consolidated debt of the State compiled by the Central Statistics Office. It is the measure used for comparative purposes across the European Union Member States. National Debt is the net debt incurred by the Exchequer after taking account of cash and other financial assets. The national debt is the principal component of general...

Written Answers — Department of Finance: VAT Rate Reductions (18 Jun 2019)

Paschal Donohoe: The second reduced 9% VAT rate was introduced on a temporary basis as part of the Jobs Initiative from July 2011 to December 2013 and was aimed at boosting tourism and the creation of additional jobs in that sector. The rate was designed to be temporary, but was maintained in subsequent Budgets. In 2016, the Programme for Partnership Government committed to maintaining the 9% VAT rate,...

Written Answers — Department of Finance: Tax Code (18 Jun 2019)

Paschal Donohoe: The European Commission published the draft Country Specific Recommendations (CSRs) on 5 June. The overall objective of the CSRs is to encourage the Member States to increase their growth potential by continuing to improve their economies and further strengthening their economic resilience. It recommends that Member States should prioritise investment needs and address bottlenecks and reforms...

Written Answers — Department of Finance: Tax Code (18 Jun 2019)

Paschal Donohoe: I welcome the publication of the draft Country Specific Recommendations (CSR) for Ireland which form part of the overall European Semester process. The Commission has opined that Ireland has further potential to improve the way its tax system can support environmental objectives. Reducing fossil fuel subsidies and committing to a schedule of increases in the carbon tax over the next decade...

Written Answers — Department of Finance: Pensions Reform (18 Jun 2019)

Paschal Donohoe: The Government published A Roadmap for Pensions Reform 2018 - 2023in February last year. The Roadmap takes a holistic view of pension issues and details specific measures presented under six strands. Implementation of the Roadmap is primarily a matter for my colleague the Minister for Employment Affairs and Social Protection and her Department, but the Interdepartmental Pensions Reform and...

Written Answers — Department of Finance: Departmental Properties (18 Jun 2019)

Paschal Donohoe: I propose to take Questions Nos. 147 and 148 together. In response to the Deputy's question my Department has not purchased or leased buildings, property or land in the past five years. The Department is a client of the Office of Public Works for all property related matters.

Written Answers — Department of Finance: Property Tax Application (18 Jun 2019)

Paschal Donohoe: The Government decided that the LPT should be centred on the principles of equity, transparency and simplicity and that a universal liability should apply to all owners of residential property with a limited number of exemptions and reliefs. Limiting the reliefs available allows the rate to be kept to a minimum for those liable persons who do not qualify for relief. Properties in managed...