Results 15,241-15,260 of 32,572 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Insurance Compensation Fund (26 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 197 and 243 together. 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 the Insurance (Amendment) Act 2018 (Act 21 of 2018) was enacted in July 2018. The Act...

Written Answers — Department of Finance: Real Estate Investment Trusts (26 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 198 to 203, inclusive, together. The rules relating to Irish Real Estate Funds (IREF) are set out in Chapter 1B of Part 27, Taxes Consolidation Act 1997, and were introduced by Finance Act 2016. An IREF is an investment fund that derives 25% or more of its value from Irish real estate. As an investment undertaking, the profits or gains of the IREF are not...

Written Answers — Department of Finance: Real Estate Investment Trusts (26 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 204 and 205 together. Finance Act 2013 introduced the regime for the operation of Real Estate Investment Trusts (REITs) in Ireland. The function of the REIT framework is not to provide an overall tax exemption but rather to facilitate collective investment in rental property by removing a double layer of taxation which would otherwise apply on property...

Written Answers — Department of Finance: National Vehicle and Driver File Registration (26 Mar 2019)

Paschal Donohoe: The registration of vehicles is provided for in Finance Act 1992, Part II, Chapter IV (as amended). Revenue registers vehicles, both new and used (previous registered), under these provisions and all vehicles, including all-terrain vehicles and other off-road vehicles, may be registered provided they have type approval under the EU system of classification for vehicles. Vehicles which are...

Written Answers — Department of Finance: Tax Credits (26 Mar 2019)

Paschal Donohoe: Where a couple is cohabiting, rather than married or in a civil partnership, each partner is treated for the purposes of income tax as a separate and unconnected individual. Because they are treated separately for tax purposes, credits, tax bands and reliefs cannot be transferred from one partner to the other. Cohabitants do not have the same legal rights and obligations as a married couple...

Written Answers — Department of Finance: Insurance Industry (26 Mar 2019)

Paschal Donohoe: Qudos Insurance A/S (Qudos) was authorised and prudentially regulated by the Danish Financial Services Authority (DFSA). It sold non-life insurance policies (mainly motor and home policies) in Ireland through Patrona Underwriting Ltd. on a freedom of services basis. On 20 December 2018, the DFSA notified the Central Bank that Qudos had been declared bankrupt. Existing policies continued to...

Written Answers — Department of Finance: VAT Exemptions (26 Mar 2019)

Paschal Donohoe: VAT is guided by the EU VAT Directive, with which Irish VAT law must comply. In Ireland, certain sanitary products, such as sanitary towels and tampons, are charged to VAT at the zero rate. Article 110 of the VAT Directive allows Member States to apply a zero rate of VAT to goods or services that are social in nature, that benefit the final consumer and which applied at a zero rate on and...

Written Answers — Department of Finance: NAMA Investigations (26 Mar 2019)

Paschal Donohoe: Section 172(3) of the National Asset Management Agency Act 2009 is a legal provision which prohibits the sale of assets held as security for NAMA loans to debtors who have defaulted on those loans or persons acting on behalf of defaulting debtors. To ensure compliance with this section, I am advised that NAMA has a policy of obtaining written confirmation from purchasers of NAMA-secured...

Written Answers — Department of Finance: Revenue Commissioners Data (26 Mar 2019)

Paschal Donohoe: Frontex, the European Border and Coast Guard Agency, promotes, coordinates and develops European border management in line with the EU fundamental rights charter and the concept of Integrated Border Management. I am advised by Revenue that there are no Frontex officers working with them.

Written Answers — Department of Finance: Tax Data (26 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 212 to 215, inclusive, together. In relation to the questions regarding rulings in the years in question, I am advised by Revenue that although the Tax Treaty Branch of its International Tax Division replied to a very small number of internal Revenue queries in relation to the Artistes and athletes Article of the Double Taxation Convention (DTC) between...

Written Answers — Department of Finance: Revenue Commissioners Data (26 Mar 2019)

Paschal Donohoe: I am advised by Revenue that the net costs of storing, maintaining and disposing of seized goods for the years 2011 to 2018 are set out in the following table. The figures include employee salaries, transport, security and other day to day expenditure, but exclude rental costs for the State Warehouse and any other related expenses incurred by the Office of Public Works. 2011 2012 2013 2014...

Written Answers — Department of Finance: Departmental Consultations (26 Mar 2019)

Paschal Donohoe: Further to my answer to PQ No. 4 February 2019, my Department engaged Price Waterhouse Cooper (PWC) to carry out a money laundering and terrorist financing (ML/TF) National Risk Assessment (NRA). The aim of this Assessment was to identify, understand and assess the money laundering and terrorist financing risks faced by Ireland. The findings of the National Risk Assessment have been used to...

Written Answers — Department of Finance: Tax Code (26 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 218 to 223, inclusive, together. I am informed by Revenue that there may be gift tax implications depending on the circumstances in which a parent gives a loan to a child. Where no consideration is given by the child for the loan (i.e. interest-free loan), or where any consideration given is less than an amount related to the open market interest rate, the...

Written Answers — Department of Finance: Interdepartmental Working Groups (26 Mar 2019)

Paschal Donohoe: Within my Department there are a number of Departmental and inter-Departmental Working Groups, working on a range of issues. Details of the membership of each group and the focus of their work are set out in the attached table. Working Group (including focus) Membership Brexit Group Preparedness for no-deal Brexit scenario and co-ordinate Departmental response to Brexit risks Principal...

Written Answers — Department of Finance: Insurance Costs (26 Mar 2019)

Paschal Donohoe: In his contribution to the Dáil debate on a Fianna Fáil insurance motion of 13 March last the Deputy raised 4 issues, – namely, matters regarding the National Claims Information Database (NCID), notifying policyholders of claims made against them, updating the Book of Quantum, and setting up a dedicated Garda insurance fraud unit. In responding to the Deputy's question I...

Written Answers — Department of Finance: Brexit Preparations (26 Mar 2019)

Paschal Donohoe: I am advised by Revenue that there has been a significant increase in registrations for Economic Operators Registration and Identification (EORI) numbers year on year. Revenue have advised that acquiring an EORI number is the minimum requirement for businesses that wish to trade with, or through, the UK when they leave the EU on 29 March 2019. The number of EORI registrations issued to...

Written Answers — Department of Finance: Revenue Commissioners Data (26 Mar 2019)

Paschal Donohoe: I am advised by Revenue that there have been no seizures of smuggled solid fuel to date in 2019. I am assuming that the Deputy, when referring to solid fuel smuggling, is enquiring about the movement of solid fuel into the State from Northern Ireland in the context of Solid Fuel Carbon Tax (SFCT). SFCT is an excise duty that applies to coal and peat when first supplied in the State for use as...

Written Answers — Department of Finance: Departmental Data (26 Mar 2019)

Paschal Donohoe: In line with the Department's Customer Charter, available on the Department's website, a complaint is defined as "an expression of dissatisfaction concerning the provision of a service or services by the Department”. The Department received two complaints for the period 2016 - 2019 outlined in the following table: Division Year of Complaint (2016/2017/2018) Nature of Complaint...

Written Answers — Department of Finance: Mortgage Resolution Processes (26 Mar 2019)

Paschal Donohoe: I am aware from recent reports in the media of the alleged practice that the Deputy is referring to and have been in contact with the Central Bank of Ireland in relation to it. I have been advised by the Central Bank that they are aware of the reported practice that some lenders apply legal costs to the mortgage accounts of borrowers in arrears before the conclusion of legal proceedings. The...

Written Answers — Department of Finance: Revenue Commissioners (26 Mar 2019)

Paschal Donohoe: I am advised by Revenue that their current compliance campaign in this sector, which commenced in 2017, had at end February 2019 yielded €2.3 million in additional tax and penalties. I am also advised that a total of 293 gaming machines have been seized by Revenue for licensing non-compliance. The Deputy may also wish to note that the Government has recently approved the proposals...