Results 14,581-14,600 of 32,643 for speaker:Paschal Donohoe

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: No. The Deputy said that I had breached Government ceilings on a number of occasions. I am just stating what I have done. Third, to address the point regarding Brexit, in the stability programme update, SPU, we called out what would be the effect on our economy of a hard Brexit taking place. That was published in April. It is highlighted in a box in the SPU. However, the Deputy's...

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: I will need to acknowledge and outline on budget day the ways in which that will be paid for, and I will do that.

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: I have always said there are a number of different ways in which it can be paid for. The future tax revenues we will collect are an obvious way in which it can be paid for but there are other choices that we can make as well. I have always said that.

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: I have not done that to date.

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: My view is that we will be able to maintain other projects we have in the national development plan. When we made the decision earlier this year to pay the additional costs from the national children’s hospital without changing the capital ceilings earlier, I was told this would result in a variety of project cancellations. That has not happened. If earlier in the year I had...

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: As I said, I have demonstrated this year our ability to deliver the funding that is needed for the national children’s hospital without making changes elsewhere. As I approach budget day having outlined the resources available to us in the summer economic statement, I believe we will be able to continue with that approach. With respect to the national broadband plan, in particular, I...

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: In the context of the Deputy’s assessment of where we stand from IFAC's point of view, will he give consideration to changes we have made in broadening the tax base to deal with the very risk he identified? Over the past two budgets, the tax base has been broadened. This was done despite the fact the sectors of our economy affected by tax broadening did not want it. It happened...

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: My understanding is that in normal circumstances the landowner would pay capital gains tax.

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: The landowner will pay capital gains tax.

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: It is low in terms of a percentage of the total value of the property but the landowner is paying capital gains tax. The trade-off is that I want to ensure that more land upon which we can build more homes will be made available. I am trying to get the balance right. I am not making this policy choice because of a desire to protect private gain, I am doing it to try to ensure that we will...

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: That has a big policy consequence as well. In essence, the Deputy is accepting my assumption that if we were to introduce such a tax measure, it would reduce the ability to make land available for additional homes. The Deputy’s answer to that question is that he would acquire it by means of compulsory purchase orders. That would have significant consequences for landowners. We can...

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: In the context of the Deputy's point on the short and medium-term effects of Brexit on the national finances, I published an estimate of that earlier in the year and indicated that the effect would be significant. I also indicated that it would mean that the surpluses we have begun to run - and which would have run at a higher pace in the future - would be affected considerably and that the...

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: To make sure I understand the Chairman's question, is he talking about the particular issue of management fees?

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: I said in the report and on the day it was launched that I was aware of the interest in the Oireachtas in considering this issue. However, people living in properties, homes or apartments who are paying management fees are also more than likely in receipt of services supplied by the local authority as well. We need to assess the contribution they make in that light. Currently, people...

Committee on Budgetary Oversight: Local Property Tax Review: Discussion (11 Jun 2019)

Paschal Donohoe: Our modelling is based on the price at which the properties move to remaining unchanged and the yield therefore coming off an unchanged price. We have assumed neither continued inflation nor a deflation in the future. To explain that better, we have said that a property will go from a price point now to one in the future and we have not assumed that price point will go up or down after...

Written Answers — Department of Finance: Insurance Coverage (30 May 2019)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. The Deputy will be aware that neither I, nor the Central Bank of Ireland, have the power to direct insurers on the pricing or provision of insurance products. Indeed, the EU framework (the Solvency II Directive) for insurance expressly prohibits Member States from adopting...

Written Answers — Department of Finance: Mortgage Debt (30 May 2019)

Paschal Donohoe: In general, under the terms of mortgage credit contracts both of the parties to a joint mortgage will be jointly and severally liable for the debt. Accordingly, the removal of persons from a liability for some or all of the debt under a mortgage agreement is a contractual matter for the parties to the agreement or will, having regard to the particular circumstances of any individual case, be...

Written Answers — Department of Finance: Corporation Tax Regime (30 May 2019)

Paschal Donohoe: I propose to take Questions Nos. 48 to 50, inclusive, together. On 28 May the OECD Inclusive Framework on BEPS agreed a programme of work aimed at developing a consensus solution to the tax challenges arising from the digitalisation of the economy. The programme of work will be undertaken under the auspices of the OECD over the coming months, on a without prejudice basis. I understand...

Written Answers — Department of Finance: Tax Appeals Commission (30 May 2019)

Paschal Donohoe: There were 3,652 appeals on hand before the Tax Appeals Commission (TAC) as at 20 May, 2019. I am advised by the TAC that it is difficult to provide an actual quantum figure because the original quantum of tax under appeal may be modified post filing of the notice of appeal (i.e. where an aspect of the appeal is settled or withdrawn), the parties may disagree in relation to the precise...

Written Answers — Department of Finance: Brexit Staff (30 May 2019)

Paschal Donohoe: I am informed by Revenue that since the start of 2019, Revenue has appointed over 500 staff from open recruitment and interdepartmental competitions. The majority of these have been assigned to customs roles or to backfill positions from which existing Revenue staff have been assigned to customs duties.As serving staff take up their new Brexit-related roles, Revenue is back-filling the...