Results 15,521-15,540 of 32,864 for speaker:Paschal Donohoe

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

Paschal Donohoe: I propose to take Questions Nos. 180 and 181 together. In relation to question 12819, it is unclear what particular needs the Deputy is referring to.  I am advised by Revenue that there are a number of measures in the tax code that are aimed at persons with disabilities or particular needs. A high-level overview of some of the substantive provisions across the various tax heads is set...

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

Paschal Donohoe: I propose to take Questions Nos. 182 and 183 together. I am advised that designated bodies are required to submit a Suspicious Transaction Report (STR) to the Revenue Commissioners and An Garda S?ochána where they have a suspicion that a money laundering offence may have been committed. Tax evasion is a predicate offence for money laundering. In cases where the STR relates to other...

Written Answers — Department of Finance: Help-To-Buy Scheme (26 Mar 2019)

Paschal Donohoe: I propose to take Questions Nos. 184 and 185 together. The Help-to-Buy incentive was introduced in Finance Act 2016 to assist first-time buyers in purchasing or building a new-build property to live in as their home. To qualify for the incentive, a first-time buyer must have signed a contract to purchase a home on or after 19 July 2016 and on or before 31 December 2019. In...

Written Answers — Department of Finance: Small and Medium Enterprises (26 Mar 2019)

Paschal Donohoe: The “Review of the 9% VAT rate: Analysis of Economic and Sectoral Developments”, published in July 2018 alongside the VAT Issues Tax Strategy Group paper, assesses the 9% VAT rate’s relevance, cost, value-for-money, impact to date and the estimated impact were it to be removed. The Department’s Review shows that employment and profitability in hairdressing...

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

Paschal Donohoe: I am advised by Revenue that a breakdown of Corporation Tax receipts, on a sectoral basis up to 2017, is published at the following link: . Data for 2018 is not yet available and will be finalised in the coming months.   It is not possible from Revenue records to separately identify receipts from companies based in the Dublin docklands area. However, if these companies are conducting...

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

Paschal Donohoe: I propose to take Questions Nos. 188, 189 and 196 together. The background to this 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 over the years this treatment resulted in the...

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

Paschal Donohoe: Revenue has advised me that the person in question was the subject of a compliance intervention in respect of their 2016 tax liabilities. The issues raised during the intervention were subsequently dealt with by the person and fully resolved. Revenue informed the person that the intervention was concluded on 5 September 2018. Revenue has also confirmed that the person manually filed their...

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

Paschal Donohoe: A property developer is liable for VAT on sales of developed residential property and is entitled to recover the VAT incurred in the development of that property. However, under the EU VAT Directive, there is no scope to allow VAT deductibility in relation to the development of properties that are to be put to a tax-exempt use. The VAT Consolidation Act 2010 provides that the letting of...

Written Answers — Department of Finance: Home Building Finance Ireland Remit (26 Mar 2019)

Paschal Donohoe: In the first instance I would like to acknowledge the stressful circumstances which the owners and residents of buildings face when defects occur in their homes. HBFI was established late last year as a supply based measure to help address as shortage of new housing in the State. I have always been clear that HBFI was to be established on a commercial basis and that its activities would...

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

Paschal Donohoe: As the Deputy is aware, the Cost of Insurance Working Group was established in July 2016 and undertook an examination of the factors contributing to the increasing cost of insurance in order to identify what short, medium and long-term measures could be introduced to help reduce the cost of insurance for consumers and businesses. The initial focus of the Working Group was the issue of...

Written Answers — Department of Finance: State Pensions (26 Mar 2019)

Paschal Donohoe: I am advised by Revenue that both the State Contributory Pension and the State Non-Contributory Pension are chargeable to income tax, but not to Universal Social Charge (USC) or Pay Related Social Insurance (PRSI). Where a person is in receipt of both a private pension and a State pension, any income tax that may be due in respect of the State pension is effectively collected by...

Written Answers — Department of Finance: EU Budget Contribution (26 Mar 2019)

Paschal Donohoe: Member State contributions to the EU Budget are calculated by the EU Commission in line with the provisions outlined in the Own Resource Decision (ORD) Regulation (2014/335). This Decision lays down the three main sources of EU revenue, or ‘Own Resources’: - Customs duties in respect of trade with non-member countries and levies on sugar production within the Union. These...

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...