Results 15,721-15,740 of 32,593 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Mortgage Data (19 Feb 2019)

Paschal Donohoe: Assuming the Deputy is referring to statistical data reporting by firms on Mortgage Arrears and Repossessions Statistics, I am advised by the Central Bank that a statistical data reporting issue was addressed by a revision to the Mortgage Arrears and Repossession Statistics published in December 2018. This was done to ensure harmonised reporting across all reporting agents. In previous...

Written Answers — Department of Finance: Mortgage Arrears Rate (19 Feb 2019)

Paschal Donohoe: I assume that the Deputy is referring to the engagement by firms, including the one he mentioned in the details supplied, with customers in relation to ceasing the practice of Automatic Arrears Capitalisation. Automatic Arrears Capitalisation refers to a methodology used by some lenders to recalculate borrowers' contracted monthly instalment (“CMI”) on their mortgage, following...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (19 Feb 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: Film Industry Tax Reliefs (19 Feb 2019)

Paschal Donohoe: Section 481 TCA 1997 provides a 32% payable credit for eligible expenditure on film production in Ireland. It is available to Irish and international film production companies that are resident in the State or in an EEA State and carry on business in the State through a branch or subsidiary. In addition to extending the credit's end date from 2020 to 2024, Finance Bill 2018 provided for a...

Written Answers — Department of Finance: Tracker Mortgage Examination (19 Feb 2019)

Paschal Donohoe: The Central Bank of Ireland published its latest update on the Tracker Mortgage Examination on 4 February. The update indicated that: - The number of affected customers stood at 39,800 at end-December 2018 (including 7,100 impacted tracker accounts which were identified and resolved prior to the commencement of the industry wide examination), an increase of 1,400 since end-August 2018 -...

Written Answers — Department of Finance: Tracker Mortgage Examination Expenditure (19 Feb 2019)

Paschal Donohoe: The Central Bank has previously confirmed in a series of public updates and during appearances before the Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach that it is actively investigating, in an enforcement context, matters relating to the issues identified at certain lenders in respect of failures relating to tracker mortgages. In this context, the...

Written Answers — Department of Finance: Brexit Issues (19 Feb 2019)

Paschal Donohoe: Given that the UK represents one of the largest net contributors to the EU budget, Brexit is likely to make a significant impact on Member States contributions, including Ireland’s. The exact impact will dependent on the nature of the final agreement between the EU and the UK regarding its involvement with the EU budget post-Brexit. Under the Withdrawal Agreement between the EU and...

Written Answers — Department of Finance: Common Consolidated Corporate Tax Base Proposals (19 Feb 2019)

Paschal Donohoe: The European Commission's current proposals for a Common Consolidated Corporate Tax Base (CCCTB) were published in October 2016 and first discussed at the November 2016 ECOFIN meeting. The proposal was prepared by the Commission without any input from Member States. The re-launched CCCTB is split into two separate Directives – a Directive for a Common Corporate Tax Base (CCTB) and a...

Written Answers — Department of Finance: Tax Rebates (19 Feb 2019)

Paschal Donohoe: The Export Repayment Scheme is provided for in section 135D, Finance Act 1992 and was commenced on 8 April 2013. The scheme is available to category A (passenger) vehicles that are removed or exported from the State. The category A rate is calculated based the level of CO2the vehicles emit and can be as high as 36% of the value of the vehicle. Motor homes are classed as Category B vehicles...

Written Answers — Department of Finance: Mortgage Book Sales (19 Feb 2019)

Paschal Donohoe: As the Deputy may be aware, PTSB transacted two loan sales in 2018 as follows: 1.Project Glas in July; and 2.Project Glenbeigh in November In the case of Project Glas, the portfolio of loans was sold to Start Mortgages. For Project Glenbeigh, PTSB confirmed that Pepper would take over servicing of loans within six months of the transaction being announced. It is important to highlight that...

Written Answers — Department of Finance: Property Tax Exemptions (19 Feb 2019)

Paschal Donohoe: The legislation governing the administration of Local Property Tax (LPT) provides for a limited number of exemptions from LPT. There is no specific exemption for properties affected by Mica and there are no plans to introduce such an exemption. LPT operates on a self-assessment basis and it is a matter for the property owner in the first instance to file an LPT Return, if they have not...

Written Answers — Department of Finance: Tax Appeals Commission (19 Feb 2019)

Paschal Donohoe: As the Deputy is aware, the independent review of the Tax Appeals Commission (TAC) makes a number of recommendations which I support in full. Progress has been made on implementing these recommendations since the publication of the review on Budget Day last year. Proposed legislation was submitted before Cabinet today (19 February) for approval. This legislation will provide for the...

Written Answers — Department of Finance: Tax Exemptions (19 Feb 2019)

Paschal Donohoe: I propose to take Questions Nos. 160 to 162, inclusive, together. The 2006 and 2007 Finance Acts introduced, with effect from 1 January 2007, measures to limit the use of certain tax reliefs and exemptions (known as “specified reliefs”) by high-income individuals who, by means of the cumulative use of various tax incentives, had in previous years the potential to...

Written Answers — Department of Finance: VAT Rate Application (19 Feb 2019)

Paschal Donohoe: Where a retailer is in a situation of net VAT gain as a result of below cost selling, this is not a loss to the Exchequer or an additional benefit to the retailer, it is merely how VAT is charged. VAT is a tax on the value added to a supply, and the collection and recovery of VAT takes place at each stage of the chain of supply from manufacturing to retailer. Under EU and domestic VAT...

Written Answers — Department of Finance: Consultancy Contracts Expenditure (19 Feb 2019)

Paschal Donohoe: I can confirm that my Department has had no contracts with a value in excess of €10 million or more between 2016 up to and including today's date.

Written Answers — Department of Finance: Revenue Commissioners Enforcement Activity (19 Feb 2019)

Paschal Donohoe: I propose to take Questions Nos. 165, 167 and 168 together. I am advised by Revenue that cash is seized by them, in accordance with the Criminal Justice Act 1994, as amended by the Proceeds of Crime (Amendment) Act 2005, if it is believed to be from the proceeds of crime. The following tables detail the amounts of cash seized from passengers entering or leaving the State through the...

Written Answers — Department of Finance: Banking Sector Recruitment (19 Feb 2019)

Paschal Donohoe: As the Deputy will be aware, a Relationship Framework has been specified that defines the nature of the relationship between the Minister for Finance and AIB. These Frameworks were first published on 30 March 2012 and the latest AIB Relationship Framework can be found at; . On 19 December 2018, under the terms of the framework agreement, AIB submitted a consultation letter to the Minister in...

Written Answers — Department of Public Expenditure and Reform: Pension Provisions (19 Feb 2019)

Paschal Donohoe: The public service pension increase policy that is currently in place in respect of pre-existing public service pension schemes represents a time-limited (expires end-2020), conditions-bound return to the non-statutory, pay-linked method of pension adjustment which prevailed until the onset of the financial emergency. Pay increases agreed as part of the Public Service Stability Agreement...

Written Answers — Department of Public Expenditure and Reform: Departmental Properties (19 Feb 2019)

Paschal Donohoe: The Taoiseach hosted some staff and friends for Christmas drinks that evening. There are agreed procedures regarding the use of Stewards Lodge by Taoisigh. No costs were incurred by the Office of Public Works or by the Department of the Taoiseach with regard to the use of Stewards Lodge on the date in question.

Written Answers — Department of Public Expenditure and Reform: Forensic Science Ireland Laboratory (19 Feb 2019)

Paschal Donohoe: I propose to take Questions Nos. 171 to 173, inclusive, together. The Office of Public Works (OPW) is managing the delivery of the new Forensic Science Laboratory at the Backweston Campus, Co. Kildare. The Deputy should be aware that enabling works for the laboratory commenced in October 2017 and have now been completed. This was at a total cost of €2,849,006, including VAT. ...