Results 18,121-18,140 of 32,610 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Code (7 Sep 2018)

Paschal Donohoe: I am advised by Revenue that, in general, where loans are used to purchase, improve or repair rented residential premises, section 97(2J) of the Taxes Consolidation Act 1997 (TCA 1997) operates to impose restrictions on the amount of loan interest accruing between 7 April 2009 and 31 December 2020 that qualifies as a deduction against rental income. However, in accordance with section 97(2K)...

Written Answers — Department of Finance: Tax Collection (7 Sep 2018)

Paschal Donohoe: I am advised by Revenue that Relevant Contracts Tax (RCT) is a withholding tax mechanism designed to improve tax compliance in certain industry sectors that were historically identified as presenting compliance risks, namely the construction, meat processing and forestry sectors. It operates in a similar manner to other withholding taxes including those in place in respect of share dividends...

Written Answers — Department of Finance: Departmental Communications (7 Sep 2018)

Paschal Donohoe: In response to the Deputy, I can confirm that an 1890 lo-call phone number, in addition to a landline phone number, is available for members of the public to contact my Department. These numbers are available on the www.finance.gov.ie website. The 1890 number provided will incur a cost to persons calling my Department using a mobile phone, the cost of which is dependent and determined by...

Written Answers — Department of Finance: Departmental Staff Recruitment (7 Sep 2018)

Paschal Donohoe: I wish to inform the Deputy that the Management of the Department of Finance is not confined to the Executive Board only. The Senior Management Group (the Executive Board, Principal Officer and equivalent grades) is central to consistency in governance, leadership and management of the Department. Responsibility of Head of Business Unit is assigned to officers at Principal...

Written Answers — Department of Finance: Commencement of Legislation (7 Sep 2018)

Paschal Donohoe: Section 28, Finance Act, 2016 amended section 598(3A) of the Taxes Consolidation Act 1997 which grants relief from capital gains tax in respect of compensation which has been received by a person under the scheme of compensation in respect of the decommissioning of fishing vessels implemented by the Minister for Agriculture, Food and the Marine. As part of the policy to encourage...

Written Answers — Department of Finance: VAT Rate Application (7 Sep 2018)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Property Tax (7 Sep 2018)

Paschal Donohoe: My Department is currently finalising the review of the LPT in conjunction with the Departments of Public Expenditure and Reform, Housing, Planning and Local Government, the Taoiseach and the Revenue Commissioners.

Written Answers — Department of Finance: Tax Code (7 Sep 2018)

Paschal Donohoe: Section 396C of the Taxes Consolidation Act 1997 previously restricted the amount of losses, as incurred by a NAMA participating institution from its trading operations in prior years, which could be set off against trading profits in the current year. The relief was limited to a maximum of 50% of the trading profits for each accounting period. This restriction was removed in Finance Bill...

Written Answers — Department of Finance: Budget 2019 (7 Sep 2018)

Paschal Donohoe: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Stamp Duty (7 Sep 2018)

Paschal Donohoe: The current rate of Stamp Duty on residential property is 1% on first €1 million of consideration and 2% on any excess. The current rate on non-residential property is 6% on the full consideration. It is therefore assumed that the Deputy is referring to residential property in his Question. I am advised by Revenue that a Ready Reckoner is available on the Revenue Statistics webpage...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (7 Sep 2018)

Paschal Donohoe: The Help to Buy incentive (HTB) was introduced in January 2017 (backdated to July 2016) and is subject to a sunset clause which is scheduled to take effect on 31 December 2019. I am advised by Revenue that statistics on HTB are available on the Revenue Statistics webpage at: . These statistics, which are updated on a monthly basis (most recently at end July), provide a range of...

Written Answers — Department of Finance: Tax Data (7 Sep 2018)

Paschal Donohoe: It is assumed that the Deputy's proposed tax rates and bands would be integrated into the current tax system together rather than in isolation. On the above basis, I am advised by Revenue that the estimated yield to the Exchequer from the introduction of the suggested rates and bands would be in the order of €1.6 billion and €2.1 billion on a first year and full year basis,...

Written Answers — Department of Finance: Tax Code (7 Sep 2018)

Paschal Donohoe: The 2012 report of the Inter-departmental Group on the Design of a Local Property Tax (the "Thornhill Group") comprehensively examined the basis of assessment for the Local Property Tax (LPT), including both the taxable value of the property option and a site value tax (SVT). The report favoured the use of market value of residential properties as the basis of assessment and...

Written Answers — Department of Finance: Tax Reliefs Data (7 Sep 2018)

Paschal Donohoe: I am informed by Revenue that on the basis of Corporation Tax returns filed for the year 2016, the estimated tax saved by all financial institutions, including insurance companies, due to their ability to use historic losses to reduce tax liabilities was in the region of €925 million. This includes the tax cost associated with capital allowances that are claimed as losses forward if...

Written Answers — Department of Finance: Corporation Tax (7 Sep 2018)

Paschal Donohoe: I am advised by Revenue that a detailed paper on Corporation Tax statistics in respect of 2016 returns and 2017 payments is available on the Revenue website at . This paper shows that for the tax year 2016, the latest year available, the effective rate of Corporation Tax on aggregate net taxable profits, after taking account of various deductions, allowances, charges and reliefs was 10 per...

Written Answers — Department of Finance: Excise Duties (7 Sep 2018)

Paschal Donohoe: I am advised by Revenue that a breakdown of the Excise Duty on alcohol, based on final sale to the customer in the requested categories, is not available. The available information is a breakdown by commodity (beer, cider, wine, spirits) and this is published at:

Written Answers — Department of Finance: Credit Union Regulation (7 Sep 2018)

Paschal Donohoe: As the Deputy is aware the Central Bank has statutory responsibility for the registration, regulation and supervision of credit unions in Ireland. While it would not be appropriate to comment on a specific regulatory matter concerning a specific credit union, I have been advised by the Central Bank that, in accordance with its statutory responsibility, it regulates and...

Written Answers — Department of Finance: Loan Books Purchasers (7 Sep 2018)

Paschal Donohoe: As the Deputy will be aware since the onset of the financial crisis, significant progress has been made by the Irish banks in reducing Non-Performing Loans (NPLs) from their peak. A major contributor to this progress has been the number of mortgage restructures the banks have agreed with their customers. There are currently over 137,000 mortgage restructures in place covering both owner...

Written Answers — Department of Finance: European Bank for Reconstruction and Development (7 Sep 2018)

Paschal Donohoe: Currently Ireland’s Director of the EBRD is a senior Department of Finance Official who is holding the post on a temporary basis in advance of the completion of the process to appoint a new Director.  Ireland's nominee for Director of the European Bank of Reconstruction and Development (EBRD) has been selected through an open competitive process.  An advertisement inviting...

Written Answers — Department of Finance: VAT Rate Increases (7 Sep 2018)

Paschal Donohoe: As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions