Results 18,361-18,380 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Mortgage Book Sales (7 Sep 2018)

Paschal Donohoe: Since the establishment of the Single Supervisory Mechanism (SSM) in November 2014, the focus has shifted from reducing mortgage arrears levels to reducing Non-performing Loans (NPLs). This shift in focus has been accompanied by a new strict Europe-wide definition of what constitutes an NPL by the European Banking Authority (EBA), which means that certain restructures are deemed NPL...

Written Answers — Department of Finance: Mortgage Book Sales (7 Sep 2018)

Paschal Donohoe: I propose to take Questions Nos. 128, 129 and 131 together. As the Deputy will be aware the decisions around loan sales are the responsibility of the board and management of the banks which must be run on an independent and commercial basis. The Minister for Finance cannot stop loan sales, even by the banks in which the State has a shareholding.  I wish to advise the Deputy that...

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

Paschal Donohoe: I propose to take Questions Nos. 132 and 140 together. As the Deputy will be aware the decisions around loan sales are the responsibility of the board and management of the banks which must be run on an independent and commercial basis. The Minister for Finance cannot stop loan sales, even by the banks in which the State has a shareholding. I wish to advise the Deputy that my department does...

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

Paschal Donohoe: I can confirm for the Deputy that the matter referred to has been drawn to my attention and a response has now been issued.

Written Answers — Department of Finance: Revenue Commissioners Investigations (7 Sep 2018)

Paschal Donohoe: Revenue has advised me that a review of the case in question is already under way and will be concluded as quickly as possible. Once the review is completed Revenue will make direct contact with the person setting out the correct tax position. Revenue has assured me that any refund due to the person arising from the review will be immediately processed.

Written Answers — Department of Finance: Vehicle Registration (7 Sep 2018)

Paschal Donohoe: I am advised by Revenue that the difficulty in the case to which the Deputy is referring arose because the person in question incorrectly informed Revenue that the vehicle had been converted from a goods vehicle to a passenger vehicle thereby generating a liability to Vehicle Registration Tax (VRT). Revenue subsequently made direct contact with the person who confirmed that his concerns...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (7 Sep 2018)

Paschal Donohoe: At the outset you should be aware that the provision of insurance is a commercial matter for insurance companies, which has to be based on a proper assessment of the risks they are willing to accept. This assessment will in many cases include insurers own presumptions based on their private modelling and research. Consequently, neither the Government nor the Central Bank can interfere in...

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

Paschal Donohoe: I propose to take Questions Nos. 137 and 157 together. I am advised by the Revenue Commissioners that information provided on VAT3 returns (the primary return filed by VAT traders) does not require a trader to separately identify the yield from specific rates. Based on Revenue data and other third-party data sources, a tentative estimate of the VAT foregone for all goods and services...

Written Answers — Department of Finance: Social and Affordable Housing Funding (7 Sep 2018)

Paschal Donohoe: I propose to take Questions Nos. 138 and 187 together. As the Deputy is aware, the Programme for a Partnership Government recognises the potential role that credit unions can play in housing finance. To that end, officials from my Department and the Department of Housing, Planning and Local Government have met with the credit union representative bodies on a number of occasions...

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

Paschal Donohoe: The payment of financial incentives for construction purposes is not within the remit of my Department. However, there are a number of tax based measures which are relevant to the Deputy's question. Industrial Buildings Allowances – General Scheme Industrial Buildings allowances are available for capital expenditure incurred on the construction or refurbishment of various types of...

Written Answers — Department of Finance: Mortgage Book Sales (7 Sep 2018)

Paschal Donohoe: As the Deputy will be aware, the Minister for Finance cannot stop loan sales, even by the banks in which the State has a shareholding. These decisions are the responsibility of the board and management of the banks which must be run on an independent and commercial basis. The banks’ independence is protected by Relationship Frameworks which are legally binding documents which I, as...

Written Answers — Department of Finance: Tracker Mortgages (7 Sep 2018)

Paschal Donohoe: The Central Bank has strong consumer protection requirements covering tracker rate mortgages which are set out in the statutory the Code of Conduct on Mortgage Arrears (2010 and 2013) and Consumer Protection Codes (2006 and 2012).  In the case of tracker mortgages on a primary residence in financial difficulty, such borrowers are covered by the protections of the CCMA.  For...

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

Paschal Donohoe: Budget 2018 and Finance Act 2017 provided for changes to the Section 604A CGT relief which was intended to allow owners of qualifying land or buildings the option of selling those assets after the fourth anniversary of their acquisition and enjoy a full relief from CGT. It remains open of course for individuals to retain ownership of such land or buildings up to and beyond the 7 year...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (7 Sep 2018)

Paschal Donohoe: I am informed by the Ireland Strategic Investment Fund (ISIF) that it is making a very substantial contribution to new private housing supply generally which is critical in terms of meeting the pent-up demand for housing across all sectors of the market. In line with its double bottom line mandate, ISIF has already invested and approved over €726 million in a number of significant...

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.