Results 16,601-16,620 of 32,602 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Yield (15 Jan 2019)

Paschal Donohoe: I am advised by Revenue that the provisional receipts from Sugar Sweetened Drinks Tax (SSDT) in 2018 are €16.5m. As this was a new tax, forecasting the level of receipts in advance was challenging, but based on the best available information was estimated at €30m. This assumed a commencement date of 1 April 2018. The subsequent 1 May commencement date impacted on the returns...

Written Answers — Department of Finance: Stamp Duty (15 Jan 2019)

Paschal Donohoe: I am advised by Revenue that the provisional receipts of Stamp Duty associated with property in 2018 amounted to €661 million. It is estimated that €490 million of these receipts relate to non-residential property. While a formal forecast for Stamp Duty on non-residential property for 2019 is not prepared, Revenue's tentative estimate on a full-year basis is €530 million.

Written Answers — Department of Finance: Sovereign Debt (15 Jan 2019)

Paschal Donohoe: I propose to take Questions Nos. 208 and 209 together. The National Treasury Management Agency (NTMA) has advised me that at end-2018, the volume of medium/long-term Irish sovereign debt due to mature over the seven year period to end-2025 was just over €73 billion. The annual breakdown is set out in the table below. The maturity profile of Irish Government bonds and EU Programme loans...

Written Answers — Department of Finance: Tax Data (15 Jan 2019)

Paschal Donohoe: I am advised by Revenue that it is a qualifying condition of the dwelling house exemption that a person inheriting a dwelling house cannot have an interest in another dwelling house at the date of the inheritance. A recent High Court judgement held that a person inheriting a dwelling house cannot have a beneficial interest in a dwelling house forming part of the residue of an estate until...

Written Answers — Department of Finance: Tax Data (15 Jan 2019)

Paschal Donohoe: I am advised by Revenue that emergency tax should only apply in limited circumstances under PAYE Modernisation. These circumstances typically occur where an employee has not provided a valid Personal Public Service Number (PPSN) to an employer or where it is an employee’s first employment in the State. Also, in very rare circumstances emergency tax could apply because an...

Written Answers — Department of Finance: Brexit Data (15 Jan 2019)

Paschal Donohoe: I am advised by Revenue that they will require an additional 600 staff as a result of Brexit. This is based on the central case scenario of an orderly withdrawal, to include a transition period to the end of 2020, followed by an agreed future trading relationship between the EU and the UK. The Government approved the phased recruitment of 600 Revenue staff in September of last year. Budget...

Written Answers — Department of Finance: Investor Compensation Company Limited (15 Jan 2019)

Paschal Donohoe: I propose to take Questions Nos. 213, 215 and 216 together. The Investor Compensation Company DAC (ICCL) is an independent body set up in accordance with the Investor Compensation Act, 1998 (the Act). The ICCL is Ireland’s statutory ‘fund of last resort’ for customers of authorised investment firms. I am informed by the Central Bank that membership of the investor...

Written Answers — Department of Finance: Investor Compensation Company Limited (15 Jan 2019)

Paschal Donohoe: The Investor Compensation Company DAC (ICCL) is an independent body established in accordance with the Investor Compensation Act 1998. The ICCL is Ireland’s statutory ‘fund of last resort’ for the clients of authorised investment firms. The Act prescribes that the ICCL shall pay compensation to clients of specified categories of investment firms where a firm is unable to...

Written Answers — Department of Finance: NAMA Staff Remuneration (15 Jan 2019)

Paschal Donohoe: The response to the deputy is set out in the table. Year Total discretionary performance-related payments Number of Benefitting Employees Highest discretionary performance-related payments to an individual 2006 €2,807,229 116 €377,000 2007 €3,165,551 138 €403,000 2008 €3,459,751 161 €395,500 2009 €2,751,361 167 €200,000 2010...

Written Answers — Department of Finance: EU Issues (15 Jan 2019)

Paschal Donohoe: The European Commission recently published a Roadmap document titled 'Taxation - more efficient EU law-making procedure' which is seeking the views of members of the public and is open until 17th January 2019. It is aimed at seeking the views of the general public rather than the Member States. I am aware that a European Commission Communication paper is due to be published shortly on a...

Written Answers — Department of Finance: NAMA Operations (15 Jan 2019)

Paschal Donohoe: I wish to advise the Deputy that it is expected that NAMA will substantially complete its work by 2020/2021 and that, over those two years, the Agency expects that a surplus, currently projected to be €3.5bn, will be available for return to the State. NAMA announced in October 2017 that it had redeemed all of its €30.2bn in Senior Debt which was guaranteed by the State and...

Written Answers — Department of Finance: VAT Rate Increases (15 Jan 2019)

Paschal Donohoe: A “Review of the 9% VAT rate: Analysis of Economic and Sectoral Developments” was published by my Department in July 2018, in order to better inform any decision in relation to the 9% reduced rate going forward. In addition to assessing the relevance, cost, value-for-money, and impact to date of the 9% VAT rate, the Review also looks at the estimated impact on the relevant...

Written Answers — Department of Finance: Help-To-Buy Scheme (15 Jan 2019)

Paschal Donohoe: Last year, I commissioned an independent Cost Benefit Analysis (CBA) of the Help to Buy (HTB) incentive. Following a competitive tender process, Indecon International Economic Consultants were appointed to carry out this analysis. The report of the CBA was published at Budget time in the Department of Finance Report on Tax Expenditures and is available on my Department’s website. In...

Written Answers — Department of Finance: Stamp Duty (15 Jan 2019)

Paschal Donohoe: I am advised by Revenue that the information regarding the sale price of the apartments in question was sourced directly from self-assessed Stamp Duty returns which were filed electronically by taxpayers or their representatives through Revenue’s Online Service (ROS). Revenue has also advised me that the transfer of information to the Property Services Regulatory Authority (PSRA)...

Written Answers — Department of Finance: Film Industry Tax Reliefs (15 Jan 2019)

Paschal Donohoe: I propose to take Questions Nos. 224 and 225 together. 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...

Written Answers — Department of Finance: Housing Policy (15 Jan 2019)

Paschal Donohoe: The fiscal rules to which Ireland is subject have direct application through a number of EU regulations and through the Fiscal Responsibility Act 2012. Any change to these regulations would have to follow the normal EU approach, beginning with a proposal from the Commission before consideration by Member States and the European Parliament. The fiscal rules provide some scope for...

Written Answers — Department of Finance: Insurance Costs (15 Jan 2019)

Paschal Donohoe: As Minister for Finance I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank can interfere in the pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on the risks they are willing to accept. However, it is acknowledged that pricing in the insurance...

Written Answers — Department of Finance: Economic Competitiveness (15 Jan 2019)

Paschal Donohoe: The improvement in Ireland’s competitiveness has been at the cornerstone of the recovery in the Irish economy. Since 2008, the Central Bank’s real harmonised competitiveness indicator has improved by approximately 21 per cent. The restoration of Irish competitiveness has been hard-won through improvements in productivity, wages and price moderation. It is important that...

Written Answers — Department of Finance: Motor Insurance Costs (15 Jan 2019)

Paschal Donohoe: As you are aware, the Cost of Insurance Working Group published its Report on the Cost of Motor Insuranceon 10 January 2017. The Report makes 33 recommendations with 71 associated actions to be carried out in agreed timeframes, set out in an Action Plan within the Report. Work is ongoing on the implementation of the outstanding recommendations by the relevant Government Departments and...

Written Answers — Department of Finance: Tax Code (15 Jan 2019)

Paschal Donohoe: I am advised by Revenue that in accordance with section 114 of the Taxes Consolidation Act 1997, where an employee is necessarily obliged to incur and defray out of the emoluments of the employment expenses of travelling in the performance of the duties of the employment, or otherwise to expend money wholly, exclusively and necessarily in the performance of those duties, there may be deducted...