Results 15,021-15,040 of 32,572 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Brexit Preparations (17 Apr 2019)

Paschal Donohoe: I am informed by Revenue that significant work has been undertaken in preparation for post-Brexit Customs checks at Rosslare Europort. The Office of Public Works are responsible for the delivery of the necessary infrastructure and in preparation for the no-deal scenario, temporary facilities were installed in Rosslare Harbour including public office facilities, basic driver comfort facilities...

Written Answers — Department of Finance: Economic Competitiveness (17 Apr 2019)

Paschal Donohoe: I propose to take Questions Nos. 50 and 98 together. Our economy continues to grow at a robust pace, with GDP growth of 6.7 per cent in 2018. As a result, Ireland continues to be one of the fastest growing economies in Europe. I would like to stress that while the headline GDP figure can be exaggerated in an Irish context, other indicators such as consumer spending, modified domestic...

Written Answers — Department of Finance: Financial Services Regulation (17 Apr 2019)

Paschal Donohoe: As I have indicated previously to the Deputy, it is important to keep the market for the provision of financial services under review to ensure that the level of consumer protection continues to be robust.  In this context, last summer I asked Mr. Michael Tutty to conduct a review of the PCP market and regulatory structure and his report was subsequently published by my Department in...

Written Answers — Department of Finance: Credit Union Lending (17 Apr 2019)

Paschal Donohoe: This is a question that has been asked, and answered, many times. I last answered it in Dail myself in mid February this year (PQ 1750/19) and my colleague Minister English also answered a similar question at his oral Parliamentary Questions last week. Each time it has clearly been stated that the Government is not, and has never committed to, establishing a Special Purpose Vehicle (SPV)...

Written Answers — Department of Finance: Tax Code (17 Apr 2019)

Paschal Donohoe: I am aware of recently expressed concerns to which the Deputy refers, in relation to the potential effect investors adopting the 'buy to rent' model are having on the Irish property market. I would like to advise the Deputy that my Department actively monitors developments in this sector on an ongoing basis, and has recently published a paper on Institutional Investment in the...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (17 Apr 2019)

Paschal Donohoe: I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses, and that is one of the reasons the Government has been prioritising investment in flood defences over the last number of years. However, you should be aware that the provision of insurance is a commercial matter for insurance companies, which has to be based...

Written Answers — Department of Finance: VAT Exemptions (17 Apr 2019)

Paschal Donohoe: I propose to take Questions Nos. 55 and 63 together. The background to the issue is that VAT legislation does not apply the zero rate of VAT to food supplements but shortly after the introduction of VAT Revenue applied a concessionary zero rating to certain vitamin, mineral and fish oil food supplement products. As the market developed this treatment resulted in the zero rating by Revenue...

Written Answers — Department of Finance: Tax Credits (17 Apr 2019)

Paschal Donohoe: This matter was looked at in some detail in 2002 by the Working Group established under the Programme for Prosperity and Fairness. The Group was chaired by the Department of Finance and included representatives from ICTU, IBEC, the various farming organisations, the Community and Voluntary Pillar, relevant Government Departments and the Office of the Revenue Commissioners. The Working...

Written Answers — Department of Finance: Tax Code (17 Apr 2019)

Paschal Donohoe: I am aware of the Budget Oversight Committee's ongoing work in the area of tax expenditures, and the publication of a report on the topic earlier this month.  The Committee had met with representatives of my Department and Revenue on January 22nd 2019. It had also met separately with the Parliamentary Budget Office (who have also done considerable work in the area of tax expenditures),...

Written Answers — Department of Finance: NAMA Investigations (17 Apr 2019)

Paschal Donohoe: On 13 June 2017 the Government agreed the order establishing the NAMA Commission of Investigation and selected Justice John Cooke to lead the Commission in investigating the NAMA’s disposal of its Northern Ireland loan portfolio, referred to as “Project Eagle”. The Commission of Investigation is under the remit of the Department of Taoiseach and the former Minister for...

Written Answers — Department of Finance: Tax Code (17 Apr 2019)

Paschal Donohoe: The increase in the betting duty rate from 1 per cent to 2 per cent, and the betting intermediary duty rate from 15% to 25%, came into effect on 1 January 2019. The last time that the betting duty rate was increased was in 1975 and at 1% betting duty was at an all time low.    Receipts from betting duty represented less than 1 per cent of all excise...

Written Answers — Department of Finance: Insurance Industry (17 Apr 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...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (17 Apr 2019)

Paschal Donohoe: As the Deputy will be aware, there is an extensive array of regulatory protections for borrowers who are in arrears under the various statutory Codes of Conduct issued by the Central Bank, such as the Consumer Protection Code 2012 and the Code of Conduct on Mortgage Arrears 2013 (CCMA). Furthermore under the Consumer Protection (Regulation of Credit Servicing Firms) Act 2018, which...

Written Answers — Department of Finance: Property Tax Review (17 Apr 2019)

Paschal Donohoe: A review of the local property tax was carried out by the Department of Finance in conjunction with the Departments of the Taoiseach, Housing, Planning and Local Government, Public Expenditure and Reform and the Revenue Commissioners. The terms of reference required that in conducting the review the review group was to have regard to the principle of achieving relative stability in the LPT...

Written Answers — Department of Finance: Tax Collection Forecasts (17 Apr 2019)

Paschal Donohoe: I can advise the Deputy that in the year to-date income tax receipts of €4,973 million have been collected against a target of €5,144 million. This represents a small shortfall of just 3.3 per cent or €171 million. However, it should be noted that income tax is a broadly based tax-head, covering a range of sub-components. In the year to end-March there was some...

Written Answers — Department of Finance: Insurance Costs (17 Apr 2019)

Paschal Donohoe: I propose to take Questions Nos. 66, 68 and 79 together. I am very conscious of the difficulties being faced by certain small businesses in obtaining insurance and that a number of such businesses have had to close or are facing closure if they are unable to get cover.  I believe that the issue of the rising cost of insurance and in some cases its unavailability is linked to...

Written Answers — Department of Finance: Insurance Costs (17 Apr 2019)

Paschal Donohoe: I propose to take Questions Nos. 67 and 73 together. As outlined to the Deputy in previous PQ responses (including PQs 9764/19, 7359/19, 48428/18 and 40780/18), stakeholder consultation formed the foundation upon which the two primary reports of the Cost of Insurance Working Group and the accompanying recommendations were developed.  This consultation process involved a wide range of...

Written Answers — Department of Finance: VAT Yield (17 Apr 2019)

Paschal Donohoe: I presume the Deputy is referring to the Budget 2019 policy change to increase the VAT rate on tourism-related activities to 13.5 per cent from January 1st this year. The estimated increased  Exchequer yield arising from this Budget change is €466 million in 2019. In terms of composition, the VAT rate increase in tourist accommodation is expected...

Written Answers — Department of Finance: Oireachtas Select Committee Recommendations (17 Apr 2019)

Paschal Donohoe: I am aware of the Budget Oversight Committee's ongoing work in the area of tax expenditures, which recently culminated in its publication of a paper on the issue on the Monday of last week, 8th April 2019. In advance of publishing this Report the Committee had met with representatives of my Department and Revenue (on January 22nd2019), as well as of the Parliamentary...

Written Answers — Department of Finance: Insurance Compensation Fund (17 Apr 2019)

Paschal Donohoe: Setanta Insurance ("Setanta") was placed into liquidation by the Malta Financial Services Authority on 30 April 2014.  As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law. The Deputy will be aware that under the Insurance Act 1964, as amended, monies may only be paid out of the Insurance Compensation Fund (ICF), with the approval of the...