Results 18,061-18,080 of 33,987 for speaker:Paschal Donohoe

Written Answers — Department of Finance: NAMA Accounts (19 Dec 2018)

Paschal Donohoe: I wish to advise the Deputy that it is expected that NAMA will substantially complete its work by 2020/2021 and that, over those two years, the Agency expects that a surplus currently projected to be €3.5bn will be available for return to the State. However it is important to note that this surplus has yet to fully crystallise. Its realisation depends on the success of NAMA's ongoing...

Written Answers — Department of Finance: Code of Practice on the Transfer of Mortgages (19 Dec 2018)

Paschal Donohoe: The Code of Practice on the Transfer of Mortgages was introduced in 1991. As the Deputy will be aware, it is a voluntary code. That said, the enactment of the Consumer Protection (Regulation of Credit Servicing Firms) 2015 means that the protections which a borrower had before a loan was sold were not lost on the sale. Credit servicing firms are now regulated entities and are required as a...

Written Answers — Department of Finance: Alcohol Pricing (19 Dec 2018)

Paschal Donohoe: I would point out that there is no Exchequer loss as a result of below-cost selling of alcohol. VAT is a tax on the value added to a supply, and the collection and recovery of VAT takes place at each stage of the chain of supply from manufacturing to retailer. Under EU and domestic VAT rules, traders who are registered for VAT collect VAT on the goods and services that they sell. In turn...

Written Answers — Department of Finance: Tax Agreements (19 Dec 2018)

Paschal Donohoe: Following correspondence with the Deputy's office, I note that this PQ has been withdrawn.

Written Answers — Department of Finance: Tax Reliefs Costs (19 Dec 2018)

Paschal Donohoe: I propose to take Questions Nos. 136 and 137 together. I am advised by Revenue that the annual cost of the research and development tax credit for the most recent five years for which data are available (i.e. to 2016), and the number of companies that have availed of the scheme in each of these years, is as set out in the table below. Year Total Exchequer Cost (€m) Number of...

Written Answers — Department of Finance: Tax Reliefs Costs (19 Dec 2018)

Paschal Donohoe: It is assumed that the Deputy is referring to the revised entrepreneur relief which is provided for in Section 597AA of the Taxes Consolidation Act 1997 in respect of Capital Gains Tax (CGT) for individuals disposing of certain business assets. I am advised by Revenue that based on analysis of CGT returns filed for the tax year 2016, the latest year available, approximately 410...

Written Answers — Department of Finance: Tax Reliefs Costs (19 Dec 2018)

Paschal Donohoe: SARP was introduced in Budget 2012 as part of a strategy to promote Foreign Direct Investment into Ireland, and to allow us to compete internationally to attract highly skilled and mobile executives who act as key decision makers within organisations. The measure provides income tax relief on a portion of income earned by employees, who are assigned by their employer to work in Ireland, and...

Written Answers — Department of Finance: Tax Reliefs Costs (19 Dec 2018)

Paschal Donohoe: The Foreign Earnings Deduction (FED) is provided for in section 823A of the Taxes Consolidation Act 1997 (TCA). It provides relief from tax on up to €35,000 of salary for employees who travel out of State to certain countries on behalf of their employer. In order to qualify for FED, an employee must spend a minimum of 30 days abroad in a year and each trip must consist of at least...

Written Answers — Department of Finance: Tax Reliefs Data (19 Dec 2018)

Paschal Donohoe: The Key Employee Engagement Programme, KEEP, came into effect on 1 January 2018 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 been received and processed. The first KEEP return is due on 31...

Written Answers — Department of Finance: Tax Reliefs Costs (19 Dec 2018)

Paschal Donohoe: The Employment and Investment Incentive (“EII”) is an incentive whereby investors can claim relief for investments in qualifying companies. The annual cost and number of companies that have availed of the scheme between 2012 and 2016, the latest year for which data are currently available, can be found in the table below. Year No. of qualifying companies Tax Cost 2012 78...

Written Answers — Department of Finance: Tax Reliefs Costs (19 Dec 2018)

Paschal Donohoe: Start Up Refunds for Entrepreneurs (SURE) provides a refund of tax paid in the previous six tax years to those previously in PAYE employment, or recently unemployed, where they invest funds into a new business set up by them. The most recent year for which statistics are available on this incentive is 2016. The cost and number of individuals who have availed of SURE for each year from 2012...

Written Answers — Department of Finance: Tax Appeals Commission (19 Dec 2018)

Paschal Donohoe: I propose to take Questions Nos. 144 to 147, inclusive, together. The Tax Appeals Commission ("TAC") was established on 21st March 2016 and new procedures for making, processing, adjudicating and determining appeals came into effect. Before this date taxpayers sent their appeals directly to Revenue who then transferred cases to the Appeal Commissioners when they were ready for a hearing....

Written Answers — Department of Finance: Insurance Industry (19 Dec 2018)

Paschal Donohoe: I propose to take Questions Nos. 149 and 150 together. In response to the Deputy’s questions, my officials sought the relevant information from the Central Bank. The Central Bank has indicated that as of end November 2018, there were 51,012 policyholders in Ireland that have been impacted by the developments with Qudos.Patrona Underwriting Ltd has issued a statement saying that...

Written Answers — Department of Finance: Insurance Industry (19 Dec 2018)

Paschal Donohoe: I propose to take Questions Nos. 151 to 153, inclusive, together. In general terms I do not consider it appropriate for either me or my Department to engage with our counterparts in other Member States on regulatory/supervisory matters as in my role as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation, and have no role in the...

Written Answers — Department of Finance: Insurance Industry (19 Dec 2018)

Paschal Donohoe: I propose to take Questions Nos. 154 to 156, inclusive, together. In general terms I do not consider it appropriate for either me or my Department to engage with our counterparts in other Member States on regulatory/supervisory matters as in my role as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation, and have no role in the...

Written Answers — Department of Finance: Insurance Industry (19 Dec 2018)

Paschal Donohoe: As a general rule, it is not appropriate in my view for either my Department or the Central Bank to engage directly with the liquidators of insolvent insurers in other Member States. Instead in the cases in question (Qudos and Alpha) the Central Bank has liaised with its Danish counterparts (the Danish Financial Supervisory Authority (DFSA)), in order to try and obtain whatever information...

Written Answers — Department of Finance: Insurance Industry (19 Dec 2018)

Paschal Donohoe: I propose to take Questions Nos. 158 and 159 together. I am supportive of the general idea of greater harmonisation at EU level for insurance guarantee schemes (IGSs) as this would serve to enhance policyholder protection and ensure a more equitable outcome for policyholders and claimants in different Member States. The current situation whereby Member States have adopted their own approach...

Written Answers — Department of Finance: Insurance Industry (19 Dec 2018)

Paschal Donohoe: At the outset I would like to say that as there is currently no EU harmonised approach to insurance guarantee schemes. Member States have adopted their own approach to such schemes, which show noticeable differences in design features, such as scope, coverage and funding. I understand that the Danish scheme for non life companies (Garantifonden for skadesforsikringsselskaber) was established...

Written Answers — Department of Finance: Insurance Industry (19 Dec 2018)

Paschal Donohoe: As the Deputy is aware, under the terms of the Declined Cases Agreement (DCA), which is adhered to by all motor insurers in Ireland, the insurance market will not refuse to provide insurance to an individual seeking motor insurance if he or she has approached at least three insurers and has not been able to obtain cover from them. I am not responsible for the operation of the DCA and...

Written Answers — Department of Finance: Corporation Tax Regime (19 Dec 2018)

Paschal Donohoe: I propose to take Questions Nos. 162 and 163 together. I am advised by Revenue that information in respect of 2018 corporation tax payments is not yet available. It will be published in 2019 once the associated analysis is completed. In relation to 2017, the most recent year for which data are available, I am advised that information in respect of the amount of Corporation Tax paid by...