Results 141-160 of 32,924 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Financial Services (29 May 2025)

Paschal Donohoe: In line with Programme for Government commitments, the Department of Finance has commenced work on a new Ireland for Finance Strategy to be published in H1 2026. A public consultation and significant stakeholder engagement will take place in 2025. Ireland for Finance is a whole-of-Government strategy for the development of the international financial services sector in Ireland. The...

Written Answers — Department of Finance: Tax Code (29 May 2025)

Paschal Donohoe: The key objective of the Vacant Homes Tax (VHT) is to increase the supply of homes for rent or purchase by encouraging the owners of vacant, habitable, residential properties to bring those properties back into use. It was introduced in Budget 2023, and as such, figures for two chargeable periods are presently available. Revenue publishes this data on their website:...

Written Answers — Department of Finance: Tax Reliefs (29 May 2025)

Paschal Donohoe: As the Deputy may be aware, there are several tax reliefs that may be available to blind persons, including for costs relating to guide dogs. Tax relief for costs relating to guide dogs may be available under section 469 of the Taxes Consolidation Act 1997 (TCA). Section 469 TCA provides for tax relief where an individual proves that he or she has incurred costs in respect of qualifying...

Written Answers — Department of Finance: Revenue Commissioners (29 May 2025)

Paschal Donohoe: I am advised that Revenue, through its Investigation, Prosecution and Frontier Management Division (IPFMD), is responsible for implementing customs controls on traffic entering the EU through Irish ports and airports. This includes customs clearance of goods, the collection of customs duty and associated VAT and the detection, interception and seizure of prohibited and restricted products,...

Written Answers — Department of Finance: Tax Credits (29 May 2025)

Paschal Donohoe: Acknowledging the challenging circumstances of bereavement, the Irish income tax code contains favourable provisions relating to the tax treatment of widowed persons. In the year of bereavement, a widowed person is entitled to the same personal tax credits as a married couple, if they were jointly assessed to tax, and the assessable spouse or nominated civil partner. If they were not...

Written Answers — Department of Finance: Tax Code (29 May 2025)

Paschal Donohoe: The Deputy will be aware that it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. The Government is acutely aware of the difficulties in the housing market and the challenges this presents for many people and families at the moment. The need to ensure all viable housing stock...

Written Answers — Department of Finance: National Treasury Management Agency (29 May 2025)

Paschal Donohoe: I propose to take Questions Nos. 51 and 299 together. The Ireland Strategic Investment Fund (ISIF) holds a variety of Sovereign Bonds and details of all ISIF’s holdings as of 31 December 2023 are available in the most recent NTMA Annual Report. ISIF’s holdings are classified by country (in line with industry standard) as per the Annual Report. ISIF’s holdings of...

Written Answers — Department of Finance: Tax Code (29 May 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a beneficiary-based tax on gifts and inheritances that is payable on the value of the property received. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does...

Written Answers — Department of Finance: Credit Unions (29 May 2025)

Paschal Donohoe: The Programme for Government has included a commitment to draft a five-year strategy for the credit union sector. I and the Minister of State intend to co-sponsor a workplan with the credit union sector to determine its Strategic Purpose and Framework. I have instructed my officials to draft a member focussed plan that will be inclusive and owned by the sector. My officials are actively...

Written Answers — Department of Finance: Currency Circulation (29 May 2025)

Paschal Donohoe: The Finance (Provision of Access to Cash Infrastructure) Act 2025 is the result of a recommendation in the Department of Finance’s 2022 Review of Retail Banking.The objectives of the Finance (Provision of Access to Cash Infrastructure) Act 2025 are: to ensure sufficient and effective access to cash in the State; to put in place a framework to manage future changes to the cash...

Written Answers — Department of Finance: Illicit Trade (29 May 2025)

Paschal Donohoe: I am assured by Revenue that combatting the threat which fuel fraud and the illicit tobacco and alcohol trades pose to legitimate businesses, consumers and the Exchequer continues to be a priority. Steps taken by Revenue to combat the illegal mineral oils trade include the introduction of stringent supply chain controls and reporting requirements, a rigorous programme of risk focused...

Written Answers — Department of Finance: Tax Code (29 May 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a beneficiary-based tax on gifts and inheritances that is payable on the value of the property received. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does...

Written Answers — Department of Finance: Tax Reliefs (29 May 2025)

Paschal Donohoe: As a number of tax reliefs are due to 'sunset' at the end of 2025, the Department is currently reviewing the following schemes in advance of Budget 2026: Accelerated Capital Allowance (Income Tax) for Slurry Storage In Budget 2023, a scheme was announced to allow for the Accelerated Capital Allowance for Slurry Storage for the construction of slurry storage facilities in farms to...

Written Answers — Department of Finance: Tax Reliefs (29 May 2025)

Paschal Donohoe: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme or DDS is no longer fit-for-purpose and believe it should be replaced with a needs-based, grant-led approach for necessary vehicle adaptations that could serve to improve the functional mobility of the individual. However, this is very much a matter for Government as my...

Written Answers — Department of Finance: Credit Unions (29 May 2025)

Paschal Donohoe: I thank the Deputy for his question. Investment in Approved Housing Bodies (AHBs) is permitted under credit union regulations, introduced by the Central Bank of Ireland in March 2018. Under these regulations, over €1 billion can be made available by credit unions to invest in AHBs. I believe the Credit Unions have a significant role to play in supporting their local communities'...

Written Answers — Department of Finance: Central Bank of Ireland (29 May 2025)

Paschal Donohoe: The Central Bank does not sell or oversee the sale of Israeli bonds, neither does the Central Bank directly (or indirectly) invest in Israeli government bonds. The Central Bank performs a regulatory function which is limited to ensuring that the disclosure document for the offer contains all the necessary information required by the EU Prospectus Regulation. Under this Regulation, a...

Written Answers — Department of Finance: Tax Yield (29 May 2025)

Paschal Donohoe: I have assumed the Deputy is requesting the value of the tax revenue generated from rental income on commercial properties in Dublin Bay North. I am informed by Revenue that a taxpayer’s tax liability is calculated on their total income from all sources, rather than being separately calculated for each source of income (such as rental income). For this reason, it is not possible to...

Written Answers — Department of Finance: Tax Collection (29 May 2025)

Paschal Donohoe: The Domicile Levy was introduced in the Finance Act 2010. The purpose of the levy is to ensure that Irish domiciled individuals with substantial income and assets located in the State contribute to the exchequer. I am advised by Revenue that ‘tax exile’ is not a defined term for the purposes of the Domicile Levy. The levy applies to a “relevant individual”,...

Written Answers — Department of Finance: Financial Services (29 May 2025)

Paschal Donohoe: The Programme for Government includes a commitment to collaborate with industry, in exploring the establishment of a National Fintech Hub with the aim of fostering innovation and supporting fintech initiatives. Department of Finance officials are carrying out research and continue to engage with industry in exploring the possibilities for a National Fintech Hub. The work underway is an...

Written Answers — Department of Finance: Fiscal Policy (29 May 2025)

Paschal Donohoe: In March 2025, Germany adopted a constitutional reform of its national fiscal framework. The reform centred on three key changes: i) setting up a new fund for infrastructure of up to €500 billion outside the scope of the German ‘debt brake’, ii) exempting defence expenditure above 1 per cent of GDP from the debt brake, and iii) allowing federal states to take up new net...