Results 17,741-17,760 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (25 Oct 2018)

Paschal Donohoe: The Department of Finance Tax Expenditure Guidelines, published in October 2014, sets out guidelines for best practice in ex-ante and ex-post evaluation of tax expenditures and is used by my Department when considering whether or not to introduce a new tax expenditure, or in reviewing an existing measure. These guidelines indicate that tax expenditures should only be used in limited...

Written Answers — Department of Finance: Small and Medium Enterprises (25 Oct 2018)

Paschal Donohoe: There are no specific provisions for small and medium enterprises (SMEs) in the research and development (R&D) tax credit, and nor are there any restrictions for SMEs wishing to avail of the scheme. It is available to all firms, within the charge to Irish tax, that undertake qualifying R&D activities in the European Economic Area. However I am aware that Revenue issued guidance in...

Written Answers — Department of Finance: Insurance Costs (25 Oct 2018)

Paschal Donohoe: I propose to take Questions Nos. 24 and 40 together. The Minister for Finance is responsible for the development of the legal framework governing financial regulation. Neither he 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,...

Written Answers — Department of Finance: Betting Regulations (25 Oct 2018)

Paschal Donohoe: As announced in the Budget I have increased the rate of betting duty from 1 per cent to 2 per cent for all bookmakers and the rate of betting intermediary duty from 15% to 25% on the commission earned for betting intermediaries. These measures will take effect from 1 January 2019. The Government’s priority has been to level the playing field by extending the tax to remote...

Written Answers — Department of Finance: Mortgage Interest Rates (25 Oct 2018)

Paschal Donohoe: The level of interest rates being charged in Ireland is an important issue for the Government and the charging of excessive rates on mortgages would not be acceptable. It is also important that Ireland has a healthy commercial banking system that is able to provide finance to customers and has an ability to withstand economic and financial market shocks. This means it must be in a position...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (25 Oct 2018)

Paschal Donohoe: While published as part of the Budget 2019 documents on Tuesday 9 October last the Department’s Ireland Strategic Investment Fund (ISIF) Review was concluded in 2017. It was an important input into the Government’s Decisions on the Rainy Day Fund and Home Building Finance Ireland (HBFI) as part of Budget 2018 last year; and on the reallocation of ISIF funds in July 2018 and the...

Written Answers — Department of Finance: Motor Insurance Costs (25 Oct 2018)

Paschal Donohoe: The Deputy should note at the outset that in my role 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 provision or 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...

Written Answers — Department of Finance: VAT Rate Application (25 Oct 2018)

Paschal Donohoe: I propose to take Questions Nos. 29 and 35 together. With effect from 1 January 2019, services and goods currently applying at the second reduced VAT rate of 9% will increase to 13.5%, with the exception of newspapers and periodicals and sporting facilities. The VAT rate applying to catering and restaurant supplies, tourist accommodation, cinemas, theatres, museums, historic houses, open...

Written Answers — Department of Finance: Legislative Measures (25 Oct 2018)

Paschal Donohoe: I am pleased to inform the Deputy that Government on Tuesday approved the text of the National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018, which will now be published in the coming days. This Bill will provide the legislative underpinning for the Rainy Day Fund, which will be formally known as the National Surplus (Exceptional Contingencies) Reserve Fund. The Fund is...

Written Answers — Department of Finance: Credit Union Advisory Committee (25 Oct 2018)

Paschal Donohoe: The Credit Union Advisory Committee (CUAC) is a committee established under section 180 of the Credit Union Act 1997. The function of the CUAC is to advise the Minister for Finance and such other persons as I think fit, in relation to the improvement of the management of Credit Unions, the protection of the interests of members and creditors of credit unions and other matters relating to...

Written Answers — Department of Finance: Credit Union Services (25 Oct 2018)

Paschal Donohoe: I propose to take Questions Nos. 32 and 58 together. The Government has a clear policy to support the strategic growth and development of credit unions delivering the comprehensive recommendations set out in the Commission on Credit Unions Report and the Credit Union Advisory Committee (CUAC) report in 2016, both of which involved extensive stakeholder engagement. CUAC remains an...

Written Answers — Department of Finance: Banking Sector (25 Oct 2018)

Paschal Donohoe: The Deputy will be aware that I, in my role as Minister for Finance, cannot stop loan sales, even by the banks in which the State has a shareholding. The same stipulation applied to my predecessor. Decisions relating to loan sales, including the composition of loans included, are the responsibility of the Board and management of the banks which must be run on an independent and commercial...

Written Answers — Department of Finance: Illicit Trade in Fuel and Tobacco Products (25 Oct 2018)

Paschal Donohoe: I propose to take Questions Nos. 34 and 57 together. The threat that fuel fraud, the illicit alcohol and illicit tobacco trades pose to legitimate business, to consumers and the Exchequer is clear and I am assured by Revenue that combatting such activity and criminality continues to be a priority for them. Steps taken by Revenue to combat the illegal fuel trade include the...

Written Answers — Department of Finance: Social and Affordable Housing Provision (25 Oct 2018)

Paschal Donohoe: In line with “Rebuilding Ireland” commitments, the Ireland Strategic Investment Fund (ISIF) and a number of key Government Departments examined the feasibility of establishing a funding vehicle, in conjunction with the private sector to facilitate investment in social and affordable housing. The objective was to create an 'off-balance sheet' mechanism which could facilitate...

Written Answers — Department of Finance: Insurance Costs (25 Oct 2018)

Paschal Donohoe: As the Deputy is aware, the Cost of Insurance Working Group undertook an examination of the factors contributing to the cost of insurance in order to identify what short, medium and long-term measures could be introduced to help reduce the cost of insurance for consumers and businesses. The initial focus of the Working Group was the issue of rising motor insurance premiums and the Report on...

Written Answers — Department of Finance: Ministerial Meetings (25 Oct 2018)

Paschal Donohoe: As the Deputy will be aware, I meet with a wide range of public and private representative bodies and companies from time to time, to discuss relevant developments and matters of interest. This engagement with stakeholders is a legitimate and important part of the development of public policy. The particular meetings to which the Deputy refers, that I and officials in my Department...

Written Answers — Department of Finance: Life Insurance Policies (25 Oct 2018)

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 of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept. This position is...

Written Answers — Department of Finance: Tax Code (25 Oct 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: NAMA Operations (25 Oct 2018)

Paschal Donohoe: NAMA has a well-established overriding commercial mandate to recoup the best return for the Irish taxpayer. However, that does not mean that NAMA does not carry out activities, such as facilitating the delivery of residential and social housing, which are entirely consistent with its existing purpose and objectives. NAMA is already making a significant contribution to the supply of...

Written Answers — Department of Finance: Fuel Rebate Scheme (25 Oct 2018)

Paschal Donohoe: I am well aware of the threat Brexit poses to every sector of the economy, including the haulage industry. This week I met with the Irish Road Haulage Association and discussed the implications of Brexit. I can confirm that I will continue to meet with industry and listen to their concerns. Co-ordination of the whole-of-Government response to Brexit is being taken forward through the...