Results 1,781-1,800 of 33,923 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Reliefs (25 Mar 2025)

Paschal Donohoe: Rent-a-room relief, which is provided for in section 216A Taxes Consolidation Act 1997 (TCA), was introduced in 2001 with the aim of increasing the availability of rented residential accommodation. The section provides that, where an individual rents a room or rooms in her/his home as residential accommodation, and the gross rent received (including sums for food, laundry or similar goods and...

Written Answers — Department of Finance: Tax Exemptions (25 Mar 2025)

Paschal Donohoe: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. RZLT is designed to prompt residential development by owners of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land within its scope. The tax is due...

Written Answers — Department of Finance: Social Media (25 Mar 2025)

Paschal Donohoe: I wish to advise the Deputy that of the social media videos posted by my Department during the timeframe specified, 100% included closed captioning/subtitles and none included Irish sign language translations. I am advised that of the social media videos posted by the bodies under the aegis of my Department in 2024, none included Irish sign language translations. The position in relation...

Written Answers — Department of Finance: Tax Code (25 Mar 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. While the thresholds were reduced during...

Written Answers — Department of Finance: Insurance Coverage (25 Mar 2025)

Paschal Donohoe: It is important to note that neither I as Minister for Finance, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products. This position is reinforced by the EU framework for insurance (the Solvency II Directive). Consequently, I am not in a position to direct insurance companies to extend coverage beyond the terms specified in their policies. ...

Written Answers — Department of Finance: Vehicle Registration Tax (25 Mar 2025)

Paschal Donohoe: The Finance Act 1992, as amended, sets out the rules governing vehicle registration and Vehicle Registration Tax (VRT). In general, the legislation obliges an individual who brings a vehicle into the State to register it within 30 days, and VRT is charged at the point of registration. Section 135 of the Act provides for certain limited circumstances in which a vehicle that is temporarily...

Written Answers — Department of Finance: Credit Unions (25 Mar 2025)

Paschal Donohoe: Dormant accounts legislation is a matter for the Department of Rural and Community Development. The Dormant Accounts Act, 2001 (as amended) provides for accounts in credit institutions to be transferred to the Dormant Accounts Fund when an account has been dormant for 15 years. Credit unions are currently not subject to the dormant accounts legislation. Accordingly, dormant accounts in...

Written Answers — Department of Finance: Tax Reliefs (20 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 242 and 245 together. The Deputy will appreciate that Revenue is bound by the confidentiality provisions in Section 851A of the Taxes Consolidation Act from commenting on the taxation position of specific taxpayers. Revenue operates a self-assessment system for VAT and therefore the application of VAT on services is primarily a matter for the company or...

Written Answers — Department of Finance: Office of the Comptroller and Auditor General (20 Mar 2025)

Paschal Donohoe: The function/office of C&AG is established under Article 33 of Bunreacht na hÉireann. The holder of the office is required (inter alia) to audit the accounts of all bodies or funds operated by or under the authority of Dáil Éireann. The list of such bodies or funds changes from time to time, in line with legislation on the formation or cessation of public bodies. ...

Written Answers — Department of Finance: Information and Communications Technology (20 Mar 2025)

Paschal Donohoe: I wish to advise the Deputy that there are 36 active copper communication lines inclusive of ISDN, PSTN, copper-based and lease lines across my department and the Department of Public Expenditure, National Development Delivery Plan and Reform (as part of a shared services arrangement whereby my Department pays the monthly costs). My Department keeps these requirements under review.

Written Answers — Department of Finance: National Treasury Management Agency (20 Mar 2025)

Paschal Donohoe: I refer the Deputy to the responses given by the then Ministers for Finance under Parliamentary Questions 120 answered on 18 June 2024 and 122 answered on 4 July 2024. I understand that the position has not changed since these substantive replies issued. See links below. www.oireachtas.ie/en/debates/question/2024-07-04/122/#pq_122 www.oireachtas.ie/en/debates/question/2024-06-18/120/

Written Answers — Department of Finance: Revenue Commissioners (20 Mar 2025)

Paschal Donohoe: I am advised by Revenue that, following a procurement process, a contract for the delivery of a new Revenue Customs Cutter was signed with AuxNaval in August 2023 and is expected to come into service in September 2025. The new Cutter will replace RCC Suirbhéir which is in service since 2004 and is approaching the end of its service life. The contract includes an option for a second...

Written Answers — Department of Finance: Tax Data (20 Mar 2025)

Paschal Donohoe: I am advised by Revenue that it strongly encourages timely compliance and engagement by taxpayers towards paying the right amount of tax at the right time and meeting their return filing obligations. By doing so, taxpayers avoid any exposure to penalties or interest for late payment. Collection of interest by Revenue is a key element in reflecting the value of money forgone by the Exchequer...

Written Answers — Department of Finance: Banking Sector (20 Mar 2025)

Paschal Donohoe: Credit institutions engaged in mortgage lending in Ireland align their definition of non-performing loans (NPLs) with relevant European banking regulation. The most relevant legislation is Regulation (EU) 575/2013 (the Capital Requirements Regulation), as amended, where Article 47a defines non-performing exposures (NPE) as those meeting any of the following criteria: (a) an exposure in...

Written Answers — Department of Finance: Tax Exemptions (20 Mar 2025)

Paschal Donohoe: Under sections 77 and 78 of CATCA 2003, CAT gifts and inheritances of pictures, prints, books, manuscripts, works of art, jewellery, scientific collections or other things not held for the purposes of trading may be exempt from CAT where the following conditions are satisfied: (1) the property is of national, scientific, historic or artistic interest, (2) the property is kept permanently in...

Written Answers — Department of Finance: Tax Data (20 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 251 and 264 together. Section 110 of the Taxes Consolidation Act 1997 sets out a regime for the taxation of special purpose companies set up to securitise assets. The tax provisions are intended to create a tax neutral regime for bona-fide securitisation and structured finance purposes. The section 110 regime enables noteholders to invest through one...

Written Answers — Department of Finance: Tax Data (20 Mar 2025)

Paschal Donohoe: Tax treaties allow for the smooth and regulated taxation of international business and investment activities. Ireland’s longstanding tax treaty policy has been to expand, maintain, and enhance its network to remove barriers and facilitate trade and investment opportunities between Ireland and partner jurisdictions. They provide greater certainty and fairness for taxpayers regarding...

Written Answers — Department of Finance: Tax Exemptions (20 Mar 2025)

Paschal Donohoe: As was noted in my reply to the Deputy's similar PQ that issued to him on the 5th of February this year, I am advised by Revenue that section 124B of the Stamp Duties Consolidation Act 1999 provides for a Stamp Duty levy of 1% to be levied in respect of certain life insurance premiums paid to insurers. The levy is payable by the insurers to Revenue on a quarterly basis. It was introduced...

Written Answers — Department of Finance: Revenue Commissioners (20 Mar 2025)

Paschal Donohoe: Revenue approval is required in advance of transfers to a pension scheme in a country other than the UK or an EU Member State. If the transfer is to a country outside the EU (other than the UK) a transfer may not be made to a country other than the one in which the member is currently employed. I am advised by Revenue that due to the small number (less than 10) of applications for pension...

Written Answers — Department of Finance: Banking Sector (20 Mar 2025)

Paschal Donohoe: I am informed by the Central Bank of Ireland that the main categories of marketable assets accepted under the Eurosystem's general (permanent) collateral framework are central government securities, corporate bonds, covered bonds, unsecured bank bonds, regional government securities, and asset-backed securities. For non-marketable assets, the Eurosystem accepts certain types of credit...