Results 16,841-16,860 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tracker Mortgage Examination (15 Jan 2019)

Paschal Donohoe: I propose to take Questions Nos. 182 and 221 together. The Central Bank has advised me that its Tracker Examination is focused on ensuring that lenders provide fair outcomes for all customers impacted by tracker related failings both from a contractual and transparency perspective. The Examination requires all lenders, which offered tracker interest rate mortgages to their customers, to...

Written Answers — Department of Finance: Mortgage Book Sales (15 Jan 2019)

Paschal Donohoe: The Deputy will be aware that a reduction in the level of non performing loans (NPLs) across European banks is a major priority for the banking regulator, the SSM. The Irish banks have made significant progress in this regard since the height of the crisis with NPLs at the banks in which the State has a shareholding reducing by 70% from €54bn to €16bn at end-June 2018. A major...

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

Paschal Donohoe: I am advised by Revenue that the person in question submitted their 2017 income tax return on 14 November 2018. When completing the return the person confirmed that they and their spouse wished to be jointly assessed for tax. The person also claimed a tax refund for that year. Revenue has further advised me that information previously provided to the person’s spouse regarding the...

Written Answers — Department of Finance: Departmental Expenditure (15 Jan 2019)

Paschal Donohoe: In response to the Deputy's question, in 2018 the Department of Finance spent some €23,900 in relation to the use of taxi services engaged via the Office of Government Procurement drawdown contract. A proportion of these costs relate to services provided to the Department of Public Expenditure and Reform by the Department of Finance. The latter provides facilities management services...

Written Answers — Department of Finance: Tracker Mortgage Examination (15 Jan 2019)

Paschal Donohoe: The Central Bank’s Tracker Examination is focused on ensuring that lenders provide fair outcomes for all groups of customers impacted by tracker related failings. The Examination requires all lenders, which offered tracker interest rate mortgages to their customers, to review all mortgage accounts, including accounts in arrears, to identify any tracker related failings both from a...

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

Paschal Donohoe: I propose to take Questions Nos. 187 to 189, inclusive, together. Section 61 of the Finance Act 2017 provides for a refund scheme of Stamp Duty paid in the case of residential developments. Where Stamp Duty is paid at the 6% rate, the accountable person can seek a refund of up to two-thirds, having commenced building dwelling unit/s. I am advised by Revenue that 180 applications for...

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

Paschal Donohoe: On 11 December last, I replied to question number 51690-18 from Deputy Pearse Doherty in connection with this matter. 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...

Written Answers — Department of Finance: Mortgage Book Sales (15 Jan 2019)

Paschal Donohoe: Permanent TSB has provided the following detail in relation to the communications process in answer to the Deputy’s question: - The loans will continue to be serviced by Permanent TSB for a period of up to 6 months (from the date of the transaction). Permanent TSB will continue to be the contact point for customers during this period. - After the transfer date (up to 6 months...

Written Answers — Department of Finance: Customs and Excise Controls (15 Jan 2019)

Paschal Donohoe: Different rules apply to goods bought online by customers from the EU compared to goods purchased from outside the EU. With regard to goods bought online by customers from other EU countries, such goods are not subject to customs duties. VAT is payable on these goods either in the Member State of the supplier or in Ireland, depending on the level of trade the supplier has with Ireland. ...

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

Paschal Donohoe: I am advised that, from Q1 2014 to Q4 2018, NAMA funded the construction of 9,669 new residential units in Ireland on residential development land under the control of its debtors and receivers. It is important to note that NAMA can only fund developments which are under the control of its debtors and receivers and which are commercially viable. The breakdown by local authority area and year...

Written Answers — Department of Finance: Departmental Expenditure (15 Jan 2019)

Paschal Donohoe: My department budgets in line with the subheadings outlined in the Revised Estimates Volume for Public Expenditure (REV). The budget for marketing, media and social media is included in Admin Non-Pay costs, specifically Subhead III:Training, Development, and Miscellaneous Costs. Depending on the nature of the expenditure, it could also potentially be accounted for as part of our overall...

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

Paschal Donohoe: I wish to inform the Deputy that there are no staff in the Department of Finance employed specifically to work on marketing, media and social media. There are currently 5 members of staff (one of whom is currently on maternity leave) in the Press Office. In addition, one of my Special Advisers, provides media advice as part of her role.

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

Paschal Donohoe: The Deputy is aware that the European Commission proposal for an interim Digital Services Tax, which imposes a 3% levy on the turnover of certain companies’ digital activities, has been debated among Member States at both a technical and political level since first proposed, last March. The Digital Services Tax proposal was included as an item for policy agreement at ECOFIN on 4...

Written Answers — Department of Finance: Financial Services Regulation (15 Jan 2019)

Paschal Donohoe: It is important to any society that a responsible and sustainable financial sector provides appropriate credit to consumers. Many regulated financial service providers meet this need in Ireland and provide cIredit of various duration and price for a variety of purposes. Licensed moneylenders are part of this credit landscape and provide credit to consumers who are often unable to obtain...

Written Answers — Department of Finance: Banking Sector Regulation (15 Jan 2019)

Paschal Donohoe: The Central Bank of Ireland is the competent authority for authorising and supervising UCITS funds in Ireland. I have been informed by the Bank that in Q4 2018 it began key supervisory work to review all Irish domiciled UCITS funds that report to be actively managed to determine if they are potentially index tracking. ESMA has defined closet indexing as the situation ‘whereby asset...

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

Paschal Donohoe: The Government are aware of the complexity of Brexit which, in whatever form it takes, will likely have a negative economic impact on Ireland. My Department has been to the forefront in assessing the impact of Brexit on our economy, commissioning joint research with the ESRI on the issue even prior to the referendum taking place. It is clear from this research and further studies, that a hard...

Written Answers — Department of Finance: Departmental Meetings (15 Jan 2019)

Paschal Donohoe: As the Deputy will be aware, I and my officials have regular meetings with the CEOs/senior officials of the banks operating in Ireland. Some of these meetings focus on specific issues such as the tracker investigations but also can cover more wide ranging general issues. Obviously due to client confidentiality, commercial sensitivities and General Data Protection Regulation, the...

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

Paschal Donohoe: Under the VAT Consolidation Act 2010, the standard rate of VAT applies to all food supplements, which are not foods in the ordinary and everyday meaning of the word. However, a longstanding concession provided through Revenue guidance permitted the zero rating of certain types of food supplements including vitamins, minerals and fish oils. The operation of the current concession became...

Written Answers — Department of Finance: Central Bank of Ireland Reports (15 Jan 2019)

Paschal Donohoe: Officials from my Department have been in discussion with the Central Bank with regard to the proposals as set out in the report on behaviour and culture in the Irish retail banks since its publication in July 2018. My officials are preparing a detailed analysis of the proposals, which has been informed by the discussions with the Central Bank and learnings from HM Treasury's experience...

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

Paschal Donohoe: The VAT Compensation Scheme for Charities was introduced in Budget 2018 to reduce the VAT burden on charities through the partial compensation of VAT they incur. This Scheme was introduced in 2019 in respect of VAT expenses incurred in 2018. Charities will be entitled to a refund of a proportion of their VAT costs based on the level of non-public funding they receive, up to a total capped...