Results 17,081-17,100 of 32,602 for speaker:Paschal Donohoe

Ceisteanna Eile - Other Questions: Tax Code (22 Nov 2018)

Paschal Donohoe: The Revenue Commissioners commenced this review because they wanted to ensure this matter could be dealt with as effectively and efficiently as possible. They wanted to ensure the expenses agreed are still justified, are appropriate to modern employment and work practices, and are in accordance with the requirements of the Taxes Consolidation Act 1997. Arising from the review, there may be...

Ceisteanna Eile - Other Questions: Tax Code (22 Nov 2018)

Paschal Donohoe: I will not be in a position to agree to anything that might compromise the independence or operations of the Revenue Commissioners.

Ceisteanna Eile - Other Questions: Film Industry Tax Reliefs (22 Nov 2018)

Paschal Donohoe: I propose to take Questions Nos. 8 and 37 together. As the Deputy has said, we have dealt with this matter at length in the context of the Finance Bill. I would like to reiterate briefly the key points I have shared with the Deputy. A significant change I am making this year relates to the potential for inflated claims. I am legislating to change the way companies claim the tax credit...

Ceisteanna Eile - Other Questions: Film Industry Tax Reliefs (22 Nov 2018)

Paschal Donohoe: We debated this matter in the context of the Finance Bill as recently as last night. The Deputy has acknowledged my intention to put in place legislative changes to try to make progress on this matter, which is of growing concern for many people within the industry. When the Finance Bill is being implemented across the passage of next year, I will be happy to engage with the Deputy on how...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: NAMA Loans Sale (22 Nov 2018)

Paschal Donohoe: The Deputy is correct that the NAMA legislation lays out the objectives by which NAMA must ensure any transaction meets certain criteria. However, deeming whether the criteria are met is work for NAMA and it then has a relationship with the Comptroller and Auditor General on the oversight of its operations. That is where the key statutory oversight facility is. It is with the Comptroller...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: NAMA Loans Sale (22 Nov 2018)

Paschal Donohoe: I do not have the information available to me regarding criminal convictions or prosecutions but I can check to see what has occurred over the last number of years. As I have indicated to the Deputy and as she has recognised, the oversight relationship with NAMA, having regard to the performance of its commercial duties, is anchored in the work of the Comptroller and Auditor General. I have...

Ceisteanna Eile - Other Questions: Tax Code (22 Nov 2018)

Paschal Donohoe: I am advised by Revenue that the effective date for implementation of the changes referred to by the Deputy is being deferred to 1 January 2020. The intention is that Revenue will have completed the comprehensive review of all flat rate expenses by that date. As such, this approach will ensure that changes to the flat rate expenses regime do not impact on any specific group earlier than the...

Ceisteanna Eile - Other Questions: Tax Code (22 Nov 2018)

Paschal Donohoe: To date, this has been a matter being implemented by the Revenue Commissioners. On foot of the concern that developed on the matter in the early part of the week, Revenue made the decision on deferral. As to the proofing to which the Deputy referred, it is important that there is broader awareness of what is happening when work like this is under way. I welcome the fact that Revenue will...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Agriculture Industry (22 Nov 2018)

Paschal Donohoe: The SBCI’s goal is to increase the availability of appropriately priced, flexible funding to viable Irish SMEs, including agricultural firms. By the end of March 2018, there had been €972 million of SBCI-supported lending, supporting more than 24,000 SMEs and 129,000 jobs. The SMEs that received SBCI finance are from all sectors of the economy with 26% of loans going to the...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Agriculture Industry (22 Nov 2018)

Paschal Donohoe: In recognition of the major importance of agriculture to the economy, we have put in place programmes and schemes such as this. As the Deputy will be aware, in budget 2019 I announced the future growth loan scheme to deliver loans of eight to ten years for longer-term investment. This is to cover both primary agricultural producers and food businesses. We expect the fund to be available in...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Agriculture Industry (22 Nov 2018)

Paschal Donohoe: Despite the adverse move in the euro-sterling exchange rate, export sales of food and drink have increased by 6%. This reflects the quality of work by everybody involved in agriculture. Each of the budgets I have been involved in have built on the work of my predecessor, Deputy Noonan, in looking to put in place targeted support through both targeted tax measures and investment to support...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: NAMA Loans Sale (22 Nov 2018)

Paschal Donohoe: Section 172(3) of the National Asset Management Agency Act 2009 is a legal provision preventing assets held as security for loans acquired by NAMA from being sold back to defaulting debtors or persons acting on behalf of defaulting debtors. To ensure compliance with this section, I am advised that NAMA has a policy of obtaining written confirmation from purchasers of NAMA-secured assets...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: NAMA Operations (22 Nov 2018)

Paschal Donohoe: It is expected that NAMA will substantially complete its work by the end of 2020-21. Over 2020 and 2021 it expects a surplus currently projected to be €3.5 billion to be available for return to the State. NAMA announced last year that it had redeemed all of its €30.2 billion in senior debt, which was guaranteed by the State. Since April 2018, it has commenced the redemption...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: NAMA Operations (22 Nov 2018)

Paschal Donohoe: On the exact timing, the information I have is that the agency will have its work completed between 2020 and 2021. I expect the work to continue into 2021. The Deputy asked about the remaining portfolio. I do not have any information that is more up to date than what the Deputy has just given me. The answer to the Deputy's third question regarding the intersection between the work of NAMA...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: NAMA Operations (22 Nov 2018)

Paschal Donohoe: I will deal with each of the Deputy's points in turn. We expect the final major sale by NAMA to take place by the end of the year. The work it will do up to 2020 will have two elements. The first will involve the delivery of the Dublin docklands SDZ, in which it plays a considerable role, and the delivery of a residential programme there and at a number of other sites. The second piece of...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Brexit Issues (22 Nov 2018)

Paschal Donohoe: We are seeing an increasing number of companies change their licensing arrangements so that they can fit in with the macroprudential and financial stability requirements of a post-Brexit European Union. There is still a considerable amount of work to be done in this area. From my engagement with the Central Bank, I am very confident that it is doing all that can be done on this. My message...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Arrears Proposals (22 Nov 2018)

Paschal Donohoe: A Programme for a Partnership Government made a number of commitments in the area of “Protecting & Promoting Tenancy Rights and Home Ownership”. Specifically in respect of the code of conduct on mortgage arrears to which Deputy Doherty refers, there is a commitment to "work with the Central Bank to amend the Code of Conduct on Mortgage Arrears to include an obligation...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Arrears Proposals (22 Nov 2018)

Paschal Donohoe: As I explained to the Deputy, this was a matter for the Central Bank to review. I asked that it review it, which it did. It came back with a very comprehensive assessment of how this issue is being dealt with inside the Irish mortgage market. I understand the anxiety and the concerns that people have when dealing with their mortgages on their homes. It is important to state the figures on...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Mortgage Arrears Proposals (22 Nov 2018)

Paschal Donohoe: The Deputy should let me speak about the commitments we have to the homeowners and deal with the figures for what has happened to restructured accounts in our economy and society since we began dealing with this great difficulty. The Deputy says I am sitting on my hands in dealing with this issue. Each year since the end of 2012, we have seen over 20,000 buy-to-let mortgages alone...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Brexit Issues (22 Nov 2018)

Paschal Donohoe: The Government welcomes the agreement reached between the UK and EU negotiators on a draft withdrawal agreement. However, it must be acknowledged that we are not yet at the end of this process and that uncertainties remain. Our priority now is to work towards the finalisation of the draft withdrawal agreement and the political declaration on the EU-UK future relationship. The...