Results 17,641-17,660 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Yield (6 Nov 2018)

Paschal Donohoe: I propose to take Questions Nos. 166 to 169, inclusive, and 208 to 210, inclusive, together. I assume that when referring to the employee tax credit, the Deputy is referring to the Employee PAYE Tax Credit. I am advised by Revenue that the estimated increases to the Standard Rate Cut Off points, Earned Income Tax credit, Employee PAYE Tax Credit and Home Carer Tax Credit are set out in...

Written Answers — Department of Finance: Tax Reliefs Data (6 Nov 2018)

Paschal Donohoe: I am informed by the Revenue Commissioners that the estimated cost of a €10,000 increase in the Capital Acquisitions Tax Group A threshold is set out in the post-Budget 2019 Ready Reckoner at link. Larger increases above €10,000 can be estimated on a pro-rata basis from the 2019 information in the Ready Reckoner and projected costs for years beyond 2019 are not available at...

Written Answers — Department of Finance: Budget 2019 (6 Nov 2018)

Paschal Donohoe: Equity and loan transactions affect the Exchequer balance but are excluded from the general government balance under the European System of Accounts 2010 framework. This is because they are essentially an exchange of one type of asset (e.g. cash) for another (e.g. equity or loans). For example, the sale of AIB shares in 2017 benefitted the Exchequer but had no impact on the general government...

Written Answers — Department of Finance: Irish Real Estate Fund (6 Nov 2018)

Paschal Donohoe: I am advised by Revenue that under Part 30 of the Taxes Consolidation Act 1997 (TCA) an individual in a defined contribution pension savings arrangement has the option of putting the funds accumulated under the arrangement into an Approved Retirement Fund (ARF) on retirement, subject to conditions. Where, at the time of exercising an option, such an individual is under the age of 75 and does...

Written Answers — Department of Finance: Irish Real Estate Fund (6 Nov 2018)

Paschal Donohoe: The Irish Real Estate Fund (IREF) regime was introduced by Finance Act 2016 and is effective for accounting periods starting on or after 1 January 2017. Under the regime, a fund is classified as an IREF if it derives 25% or more of its value from Irish land and buildings. While the IREF regime came into force for accounting periods commencing on or after 1 January 2017, the first payment...

Written Answers — Department of Finance: Budget 2019 (6 Nov 2018)

Paschal Donohoe: As I announced in my Budget speech, the value of the Home Carer Tax Credit will be increased from its current level of €1,200 to €1,500 at an estimated full year cost of €24 million. This is the fourth Budget in a row that the Home Carer Tax credit has been increased and it has been increased by a total of €690. This increase will be of benefit to stay-at-home...

Written Answers — Department of Finance: Ministerial Meetings (6 Nov 2018)

Paschal Donohoe: As per my response to the previously posed PQ, 44309-18, it is not my Department's practice to pass out documents of the type requested in response to a Parliamentary Question. The only records relating to meetings between the Minister for Finance and/or Department of Finance officials and Enet refer to a meeting between my predecessor as Minister for Finance and representatives of Enet...

Written Answers — Department of Finance: Tax Collection (6 Nov 2018)

Paschal Donohoe: The move to real-time reporting is the most significant change to the PAYE system since its introduction more than fifty years ago. The modernisation programme will bring improved accuracy and transparency for all stakeholders, including employers, employees and Revenue, while also significantly streamlining the entire administration process. To that end, the introduction of PAYE...

Written Answers — Department of Finance: Tax Code (6 Nov 2018)

Paschal Donohoe: For the purposes of Capital Acquisitions Tax, the relationship between the person who provides the gift or inheritance and the beneficiary determines the threshold, known as the ‘Group threshold’, for the value of gifts or inheritances below which gift or inheritance tax does not arise. There are three separate Group thresholds based on the relationship of the beneficiary to...

Written Answers — Department of Finance: Tax Exemptions (6 Nov 2018)

Paschal Donohoe: I understand that the Deputy’s question refers to the leasing of farm land by a lessor to their brother-in-law or sister-in-law. I am advised by Revenue that the leasing of land to the spouse or civil partner of a brother or sister of the lessor or the leasing of land to the brother or sister of a spouse or civil partner of a lessor is regarded as a lease between connected persons and...

Written Answers — Department of Finance: VAT Rate Application (6 Nov 2018)

Paschal Donohoe: There has been no change to the application of VAT in respect of the provision of long term hire of a mobile home, which is subject to the standard rate of VAT, currently 23%. As announced in the Budget, the second reduced VAT rate of 9% will increase to 13.5% on certain goods and services, supplies of catering and restaurant services, tourist accommodation, hotel and other holiday...

Written Answers — Department of Finance: Departmental Consultations (6 Nov 2018)

Paschal Donohoe: I propose to take Questions Nos. 180 and 181 together. I am assuming that the Deputy is referring to public consultations undertaken by my Department and have included the requested information in tabular form: Year Consultations undertaken (to cover each of the years 2009 - 2017 and to-date in 2018) 2009 Consultation Paper on Implementation of the Consumer Credit Directive 2008 ...

Written Answers — Department of Finance: Tax Exemptions (6 Nov 2018)

Paschal Donohoe: Betting tax is charged on sports betting, where the service is provided by a licensed bookmaker or betting intermediary. The National Lottery, on the other hand, is designed to generate substantial funds for the Exchequer to be expended on good causes. Monies paid into the Central Fund are applied for one or more of the following causes, as the Government may determine from time to time: (a)...

Written Answers — Department of Finance: Mortgage Interest Relief Application (6 Nov 2018)

Paschal Donohoe: The Deputy may be aware that I made no changes to Mortgage Interest Relief for homeowners in Budget 2019. However, he may also recall that I announced in Budget 2018 that I would extend Mortgage Interest Relief (MIR) for the remaining recipients of the relief on a tapered basis for three years, through to 31stof December 2020. In 2018, recipients of MIR qualified for 75% of the relief that...

Written Answers — Department of Finance: Tax Data (6 Nov 2018)

Paschal Donohoe: I propose to take Questions Nos. 184 and 185 together. I am advised by Revenue that the figures requested are as follows: With regards to 44997/18, to achieve each of the standard cut off rates proposed, the Budget 2019 band must be increased by €4,700, €9,700 and €14,700 respectively. Single and Widowed or surviving Civil Partner without qualifying child - Current Band...

Written Answers — Department of Finance: Revenue Commissioners Reports (6 Nov 2018)

Paschal Donohoe: I am advised by the Revenue Commissioners that the deliberative process referred to in the reply to Parliamentary Question No. 203 of 23 October 2018 concerns the tax treatment of food supplements. Following a submission received from the Irish Health Trade Association (IHTA) on this subject, Revenue commenced a review of their guidance in this area which involved the engagement of an...

Written Answers — Department of Finance: Brexit Issues (6 Nov 2018)

Paschal Donohoe: The Department’s Budget forecasts incorporate, as a central scenario, that the UK will make an ‘orderly’ exit from the EU. This involves a transition period being agreed until end-2020, and a free trade agreement being agreed thereafter. The impact of this scenario is to lower the level of GDP by almost 2 percentage points over the 2021-2023 period relative to a no-Brexit...

Written Answers — Department of Finance: Banking Sector (6 Nov 2018)

Paschal Donohoe: As the Deputy will be aware, AIB’s financial statements are prepared in line with applicable international accounting standards and are independently audited. I would also note that I have no role in relation to the preparation or audit of the financial statements in any of the publicly quoted banks. I have however received the following response from AIB: " On transition to IFRS 9,...

Written Answers — Department of Finance: Tax Data (6 Nov 2018)

Paschal Donohoe: I am advised by Revenue that Benefit-In-Kind is declared on tax returns as a total figure rather than by individual benefit type. Therefore there is no basis available to separately compile the numbers of employees availing of childcare as a Benefit in Kind as requested by the Deputy.

Written Answers — Department of Finance: Insurance Industry Regulation (6 Nov 2018)

Paschal Donohoe: As the Deputy may be aware, in fulfilment of a recommendation from the Report on the Cost of Motor Insurance, a protocol was agreed between Insurance Ireland and the Department of Finance under which insurance companies committed to accepting the driving experience returning emigrants gained while abroad, when the driver has had previous driving experience in Ireland. The guiding principle...