Results 15,801-15,820 of 32,593 for speaker:Paschal Donohoe

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Brexit Preparations (14 Feb 2019)

Paschal Donohoe: My assessment of the likelihood of a no-deal scenario is that it is a clear and distinct risk we are now planning for. In the past week, I met the Revenue Commissioners, the National Treasury Management Agency, NTMA, and the Central Bank to review where we are from a preparedness point of view, with a particular focus on how we will respond to challenges for the State, to our financial...

Written Answers — Department of Finance: Digital Services Tax (14 Feb 2019)

Paschal Donohoe: The Deputy will be aware that the Commission proposal for an interim Digital Services Tax, which imposes a 3% levy on the turnover of certain companies’ digital activities, was discussed extensively last year among Member States – both at a technical and political level. In December the proposal was brought before ECOFIN for political decision where it was clear that a...

Written Answers — Department of Finance: NAMA Social Housing Provision (14 Feb 2019)

Paschal Donohoe: I wish to advise the Deputy that subject to current market conditions prevailing NAMA projects a surplus in the region of €3.5bn to be returned to the State once it completes its work. The realisation of this surplus depends on the redemption of NAMA’s remaining subordinated debt by March 2020 and completion of its Dublin Docklands SDZ and residential funding programmes. As...

Written Answers — Department of Finance: Brexit Preparations (14 Feb 2019)

Paschal Donohoe: The EU and Ireland have stated that they are determined in the context of Brexit, deal or 'no deal', to avoid the need for a hard border on the island of Ireland. In a 'no deal' scenario, intensive discussions between the Government, the EU Commission and EU partners will be required regarding the movement of goods North-South and the protecting of the EU’s Single Market and...

Written Answers — Department of Finance: Insurance Data (14 Feb 2019)

Paschal Donohoe: In the wake of Storms Ophelia and Emma last year, I understand that Minister of State Michael D’Arcy TD requested officials to look at how insurance claims were managed. His request arose on foot of some negative feedback that the Minister of State had received from policyholders regarding delays in claims being processing in relation to these storms. In this context, Minister of...

Written Answers — Department of Finance: Insurance Costs (14 Feb 2019)

Paschal Donohoe: I propose to take Questions Nos. 18 and 43 together. As outlined to the Deputy in previous PQs (including PQs 48424, 43997, 40257, 34064, 30683), stakeholder consultation formed the foundation upon which the Reports of the Cost of Insurance Working Group and their recommendations were developed. This consultation process involved a wide range of stakeholders representing the different voices...

Written Answers — Department of Finance: Brexit Preparations (14 Feb 2019)

Paschal Donohoe: The Government remains firmly of the view that ratifying the Withdrawal Agreement, agreed between the EU and the UK, remains the best way to ensure an orderly UK exit from the EU. A 'no deal' Brexit is the worst possible outcome and would not be in the interests of the UK, Ireland or the EU, and dealing with it would be an exercise in damage limitation. While ratification of the Withdrawal...

Written Answers — Department of Finance: Tax Code (14 Feb 2019)

Paschal Donohoe: It is a long-held principle of inheritance tax that transfers of property between spouses are exempt. All inheritances taken by a spouse from his or her spouse since January 1985 are exempt from tax and are not taken into account in computing tax. The spousal exemption from inheritance tax was extended to civil partners with effect from 1 January 2011. As a result of the full tax...

Written Answers — Department of Finance: Brexit Preparations (14 Feb 2019)

Paschal Donohoe: I am informed by Revenue that, in keeping with their role and responsibilities, they are strongly focused on facilitating the efficient and timely movement of legitimate trade, post Brexit. During 2018, Revenue chaired an Inter-Departmental group which was established to consider the adequacy of port and airport infrastructure and facilities, post-Brexit. The group included...

Written Answers — Department of Finance: National Children's Hospital Expenditure (14 Feb 2019)

Paschal Donohoe: The “National Surplus (Exceptional Contingencies) Reserve Fund” which is also referred to as the Rainy Day Fund, is intended to be an economic buffer available for drawdown in the event of a sharp economic downturn. It is intended to allow the Government of the day to mitigate the effects of such a downturn. The aim in establishing the Fund is that in the event of a future...

Written Answers — Department of Finance: Irish Fiscal Advisory Council Reports (14 Feb 2019)

Paschal Donohoe: I can confirm for the Deputy that my formal response to the November 2018 Fiscal Assessment Report (FAR) issued to the Irish Fiscal Advisory Council on 23rd January 2019. In keeping with established practice, a copy of the response was also published on my Department’s website. Given its independent nature, I do not as a matter of course hold formal meetings with the Council. However,...

Written Answers — Department of Finance: Carbon Tax Implementation (14 Feb 2019)

Paschal Donohoe: I propose to take Questions Nos. 24 and 46 together. Decisions in relation to the carbon tax take place as part of the annual budgetary process. The Energy and Environmental Taxes paper prepared annually for the Tax Strategy Group contains analysis on the carbon tax to help inform budget decisions. The Tax Strategy Group papers are available to read on the Department of Finance website. The...

Written Answers — Department of Finance: Tax Collection (14 Feb 2019)

Paschal Donohoe: I am advised by Revenue that the total amount of tax debt at 31 January 2019 is €4,318m. However, this figure includes €3,235m of debt that is under appeal with the Tax Appeals Commission and €114m of Insolvency Debt, which is not available to Revenue to collect. The remaining €969m is regarded as a more accurate indicator of actual debt that is available to...

Written Answers — Department of Finance: Tax Code (14 Feb 2019)

Paschal Donohoe: The Deputy will be aware that the administration of the tax code is exclusively a matter for Revenue. Section 101 Ministers and Secretaries (Amendment) Act 2011 specifically provides that the Revenue Commissioners are independent in the performance of their functions under, or for the purposes of, tax laws. Consequently, I am precluded from giving any direction or instruction to Revenue in...

Written Answers — Department of Finance: Help-To-Buy Scheme (14 Feb 2019)

Paschal Donohoe: As the Deputy may be aware, section 477C of the Taxes Consolidation Act 1997 provides that the Help to Buy incentive (HTB) will expire on 31 December 2019. As of 31 January 2019, Revenue received 23,517 applications for HTB and 10,618 claims had been made, of which 10,107 had been approved. The total estimated cost to the Exchequer of these verified claims is €147 million, of which...

Written Answers — Department of Finance: Economic Data (14 Feb 2019)

Paschal Donohoe: My Department continues to monitor developments in the property market, including trends in prices and rents, on an ongoing basis. The Department uses many different sources to analyse the market, including its own research and analysis. In relation to affordability, the most recent and comprehensive work in this area was carried out by the ESRI in cooperation with the Department of Housing,...

Written Answers — Department of Finance: Land Development Agency (14 Feb 2019)

Paschal Donohoe: I can confirm that, following a request from the Minister for Housing, Planning and Local Government last June, the NTMA agreed to the secondment of three staff members to the LDA on a temporary basis to assist with the establishment of that Agency. Neither I nor the Department of Finance have had any further discussions with any of the parties listed in relation to any further secondments of...

Written Answers — Department of Finance: VAT Rate Application (14 Feb 2019)

Paschal Donohoe: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services must be charged to VAT at the standard rate unless they fall within particular categories of goods and services specified in the VAT Directive. VAT rating is determined on the basis of particular goods and services, not by...

Written Answers — Department of Finance: NAMA Transactions (14 Feb 2019)

Paschal Donohoe: I am advised that Section 172(3) of the NAMA Act is a legal provision preventing any interest in property held as security for loans acquired by NAMA from being sold back to defaulting debtors, or persons acting on behalf of defaulting debtors. NAMA has a policy of obtaining written confirmation from purchasers of NAMA-secured assets confirming that they are in compliance with Section 172(3)...

Written Answers — Department of Finance: Insurance Data (14 Feb 2019)

Paschal Donohoe: The Central Bank has advised my Department that it was notified by the Danish Financial Supervisory Authority ("Danish FSA") on 7 March 2018 that it (Danish FSA) had ordered Alpha Insurance A/S (“Alpha”) to cease writing new business including renewal of existing contracts and business with immediate effect. The Central Bank was further notified on 9 May 2018 by the Danish FSA...