Results 17,761-17,780 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: European Investment Bank Loans (25 Oct 2018)

Paschal Donohoe: I assume that a “low interest EU Loan” refers to loans provided by the European Investment Bank (EIB), the bank of the European Union which is owned by the EU Member States. Every advanced economy borrows from the international capital markets to finance its obligations and the services which its citizens require. In Ireland, the recently published Department of Finance...

Written Answers — Department of Finance: Tracker Mortgage Examination (25 Oct 2018)

Paschal Donohoe: The Central Bank’s Tracker Examination is focused on ensuring that lenders provide fair outcomes for all 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 contractual...

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

Paschal Donohoe: I propose to take Questions Nos. 47 and 54 together. The report of the review of the LPT is currently being finalised in conjunction with the Departments of the Taoiseach, Public Expenditure and Reform, Housing Planning and Local Government, and the Office of the Revenue Commissioners. I will of course, carefully consider the conclusions and recommendations of the report when it is presented...

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

Paschal Donohoe: At the outset, I would like to clarify that it is possible for all motorists including commercial drivers such as taxi drivers to buy insurance from insurers authorised in other EU states as part of the Single Market. This can be done through such insurers either: - establishing a branch operation in the host country and thus conducting business on a ‘freedom of...

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

Paschal Donohoe: Deputies will be aware that Government policy on banking remuneration has remained unchanged since the financial crisis. Extensive restrictions are in place and these are not simply confined to a handful of senior bankers whose pay is restricted by the €500,000 pay cap (excluding a standard pension contribution). These affect c.23,000 workers across the three banks in which the State...

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

Paschal Donohoe: I wish to advise the Deputy that it is expected that NAMA will substantially complete its work by 2020. The Agency announced in October 2017 that it had redeemed all of its €30.2bn in Senior Debt which was guaranteed by the State and since April 2018 it has commenced the redemption of its €1.6bn in subordinated debt. However, notwithstanding the successful achievement of...

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

Paschal Donohoe: The Deputy will be aware that on 21 March 2018 the European Commission published two proposed Directives which seek to tax certain digital activities differently within the EU. The first, an ‘interim’ solution for a 3% levy on turnover from certain digital service activities. The second, ‘comprehensive solution’ requires an overhaul of international...

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

Paschal Donohoe: Setanta Insurance was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law. The Deputy will be aware that the Insurance (Amendment) Act 2018 (Act 21 of 2018) was signed into law in July this year. The Act, inter alia, provides for the payment of 100% of the...

Written Answers — Department of Finance: Departmental Schemes (25 Oct 2018)

Paschal Donohoe: I propose to take Questions Nos. 55 and 101 together. The Key Employee Engagement Programme, KEEP, came into effect on 1 January this year to help SMEs to attract and retain employees in our highly competitive labour market. I am advised by Revenue that details of the costs and numbers availing of this programme will only be available once the relevant employer tax returns for 2018 have...

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

Paschal Donohoe: Corporation tax receipts to end September, at €5.2 billion, are 6.3 per cent (€0.3 billion) ahead of profile. This mostly arises from the introduction of the International Financial Reporting Standard “IFRS 15” that replaces the existing standards on revenue. This standard must be applied in respect of all financial reporting periods beginning on or after 1...

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

Paschal Donohoe: I am advised by Revenue that it is satisfied that, having regard to its overall level of resources, it has the necessary means to tackle smuggling and illegal sales of cigarettes and tobacco. I remain open to discussing with Revenue any requirements that they may have as regards resources in the future to maximise their effectiveness in combatting smuggling.

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

Paschal Donohoe: I propose to take Questions Nos. 60 and 85 together. As the Deputy will be aware, my Department and the Department of Rural and Community Development published a Report on Local Public Banking at the beginning of July of this year. The Report concludes that there is not a compelling case for the State to use Exchequer funds to establish a new local public banking system, however, there is...

Written Answers — Department of Finance: Motor Insurance Costs (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. ...

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

Paschal Donohoe: I refer the Deputy to my reply to his two parliamentary questions of 24 July this year (Nos. 221 and 222; reference Nos. 33483/18 and 33484/18). My Department's Report on Tax Expenditures for 2018 is now available and can be found on the Budget 2019 website at: . The annual Tax Expenditure Reports (of which there have been four to date) do not purport to be...

Written Answers — Department of Finance: Fiscal Policy (25 Oct 2018)

Paschal Donohoe: The Fiscal Responsibility Act 2012 imposes a duty on the Government to endeavour to comply with the fiscal rules. The National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018, which was approved by Government this week and will be published in a matter of days, does not amend or change this obligation. In setting out the circumstances for drawing down funds from the Rainy Day...

Written Answers — Department of Finance: Bank Branch Closures (25 Oct 2018)

Paschal Donohoe: I should stress at the outset that the Government has no formal role in the commercial decisions of the banks as to their future business model and whether or not they will close particular branches. The Deputy will no doubt appreciate that the provision of services by banks, including the location of branches, is a commercial decision for the Boards and management of the institutions. ...

Written Answers — Department of Finance: Irish Aid (25 Oct 2018)

Paschal Donohoe: I refer the Deputy to Order 36 of Dáil Éireann's Standing Orders Relative to Public Business. As Minister for Finance I have no responsibility in relation to the matters raised in your question.  It should, therefore, be readdressed to the appropriate Minister.

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

Paschal Donohoe: It is not my Department's practice to pass out briefing of the type requested in response to a Parliamentary Question.  Documents related to the meeting between my predecessor as Minister for Finance and representatives of Enet on 14 December 2016 are currently the subject of an FOI request and subject to the outcome of that process will be available once the FOI process is completed.

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

Paschal Donohoe: I am advised by Revenue that P60 Forms are issued by employers to their employees at the end of each tax year. The P60 is a statement of the employee’s earnings and statutory deductions for that year and is an important part of the current PAYE system. Under the current PAYE system, pay, tax and USC deducted information from the P60 is available to employees through...

Written Answers — Department of Finance: Electric Vehicle Grants (25 Oct 2018)

Paschal Donohoe: I extended the benefit-in-kind exemption for electric vehicles until 31 December 2021 to support policies to reduce carbon emissions in the transport sector. This forms part of a broader series of measures to support the uptake of electric vehicles, including VRT relief of up to €5,000, an SEAI grant of up to €5,000, very low motor tax of €120 per annum, 50% discount...