Results 18,381-18,400 of 33,987 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Data (27 Nov 2018)

Paschal Donohoe: As part of Ireland’s commitment to ongoing corporate tax reform, including the implementation of the Anti-Tax Avoidance Directives (ATAD), Finance Bill 2018 introduced a new ATAD-compliant exit tax regime with effect from Budget night. The ATAD exit tax regime will apply a charge to tax at 12.5% on certain unrealised capital gains where companies migrate or transfer assets...

Written Answers — Department of Finance: Tax Code (27 Nov 2018)

Paschal Donohoe: It is assumed that the scope and design of the Digital Services Tax (“DST”) to which the Deputy refers would mirror those of the European Commission’s initial DST proposal. The Commission, in an impact assessment of its proposed DST – which applies at a 3% rate – estimated that the measure would yield approximately €5 billion per annum across all EU...

Written Answers — Department of Finance: Recycling Policy (27 Nov 2018)

Paschal Donohoe: I propose to take Questions Nos. 156 and 157 together. I am informed that the information available to the Office of the Revenue Commissioners from tax returns or other sources does not provide detail on numbers of single use cups or the recyclable content of packaging. Accordingly, the revenue raising estimations requested by the Deputy cannot be provided by Revenue.

Written Answers — Department of Finance: Tax Reliefs Data (27 Nov 2018)

Paschal Donohoe: I am informed by Revenue that the estimated savings to the Exchequer that would arise as a result of decreasing the rate or ceiling for occupational pension schemes, RACs and PRSAs to 20% is outlined on page 11 of the Revenue Ready Reckoner, at . Based on these estimates, standardizing the relief at 20% and maintaining the current €115,000 ceiling would yield €319m.

Written Answers — Department of Finance: Tax Code (27 Nov 2018)

Paschal Donohoe: I am advised by Revenue that the estimated cost of equalising the Earned Income Credit with the PAYE credit would be €72 million in a full year. The estimated costs for increases to the Earned Income Credit are available on page 6 of the Revenue Ready Reckoner which is available on the Revenue website: .

Written Answers — Department of Finance: Mortgage Interest Relief Data (27 Nov 2018)

Paschal Donohoe: It is presumed the Deputy is referring to mortgage interest relief for persons with a qualifying mortgage loan on a principal private residence. I am advised by Revenue that the estimated cost of the relief in 2019 is €78m. Therefore, it can also be estimated that the cost of retaining the relief at 2019 levels for the following three years would result in a similar annual cost....

Written Answers — Department of Finance: Foreign Direct Investment (27 Nov 2018)

Paschal Donohoe: Before addressing the question put down by the Deputy, it would be useful to recall the background to the Special Assignee Relief Programme (SARP) and the circumstances within which the relief operates. 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...

Written Answers — Department of Finance: Tax Reliefs Application (27 Nov 2018)

Paschal Donohoe: As part of the annual Budgetary and Finance Bill process, all taxes, reliefs and exemptions are subject to on-going review. The Department of Finance produces a TSG paper annually on Capital Taxes. This year's Capital Taxes TSG paper, which can be found at , examined options to change both the CGT rate and the lifetime limit for the Revised Entrepreneur Relief. Most recent estimates...

Written Answers — Department of Finance: Tax Credits (27 Nov 2018)

Paschal Donohoe: I am advised by Revenue that costings for increases to personal tax credits can be found in the table on page 6 of the Revenue Ready Reckoner which is available on the Revenue website: . While some of the costs of the increases sought by the Deputy are not displayed in the Ready Reckoner, they can be estimated on a straight-line or pro-rata basis from the costs shown. For ease of reference,...

Written Answers — Department of Finance: Tax Code (27 Nov 2018)

Paschal Donohoe: I am advised by Revenue that their review of the flat rate expenses regime is ongoing and that it is intended to have the review completed by the end of 2019. Therefore, in the interest of fairness to all sectors and employees currently benefitting from the regime, Revenue has decided that the effective date for implementation of any changes to particular flat rate expenses categories will...

Written Answers — Department of Finance: Insurance Costs (27 Nov 2018)

Paschal Donohoe: As the Deputy is aware, the Cost of Insurance Working Group is in the process of implementing both its Report on the Cost of Motor Insurance and its Report on the Cost of Employer Liability and Public Liability Insurance. The Report on the Cost of Motor Insurance was published in January 2017, containing 33 recommendations with 71 associated actions. While the Report on the Cost of...

Written Answers — Department of Finance: Corporate Tax Compliance (27 Nov 2018)

Paschal Donohoe: Since 2014, the European Competition has been engaged in an “information gathering exercise” and have sought information from all Member States in relation to certain corporate tax practices and regimes. It is understood that the Commission has examined over 1,000 rulings across national tax jurisdictions. This exercise has been ongoing since this time and, of course, has not...

Written Answers — Department of Finance: Customs and Excise Controls (27 Nov 2018)

Paschal Donohoe: I am advised by Revenue that since October 2017 it has not been notified of, or invited to any Joint Policing Committee (JPC) meetings in Sligo, Leitrim, Donegal or Mayo. Revenue has reiterated assurances previously given that officials will participate in meetings regarding the importation of illicit drugs, where requested to do so by the Joint Policing Committees. I am assured that...

Written Answers — Department of Finance: Pension Provisions (27 Nov 2018)

Paschal Donohoe: I am advised by Revenue that the person in question receives a Contributory State pension, which includes an additional amount in respect of a Qualifying Adult Dependant. Although the Qualifying Adult portion of the pension is paid directly to the person’s spouse/civil partner/co-habitant, the payment is premised on there being an entitlement to the pension in the first instance....

Written Answers — Department of Finance: Motor Insurance Coverage (27 Nov 2018)

Paschal Donohoe: At the outset, it is important to note that as Minister for Finance, I do not have a role in the regulation or availability of car rental services, including the durations for which companies may choose to offer it. Notwithstanding this, my officials contacted Insurance Ireland on the basis of the details supplied. It advised that motor insurance is generally sold as an annual contract...

Written Answers — Department of Finance: Tax Credits (27 Nov 2018)

Paschal Donohoe: I am advised by Revenue that the matter in question, which requires interaction with another Government Department, is currently being reviewed. It is anticipated that the review will be completed within the next week and Revenue has assured me that it will then make direct contact with the person to discuss the issue.

Written Answers — Department of Finance: Revenue Documents Issuance (27 Nov 2018)

Paschal Donohoe: I am advised by Revenue that the difficulty in this case exists because the person in question is not yet registered (with Revenue) as being self-employed. The registration delay is a consequence of the person having to date failed to complete the necessary documentation. Revenue has also confirmed that it very recently made direct contact with the person to enquire as to when they would...

Written Answers — Department of Finance: Tax Data (27 Nov 2018)

Paschal Donohoe: It is assumed that when the Deputy refers to ‘corresponding bands based on the status quo for others’, the intention is that the standard rate cut off point is adjusted accordingly, but that the additional proposed bands of income are standardised, i.e. they are the same width, for all taxpayers. Revenue has advised that the estimated full yield to the Exchequer from the...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Eligibility (27 Nov 2018)

Paschal Donohoe: The Home Renovation Incentive (HRI) is provided for in section 477B of the Taxes Consolidation Act 1997. As the Deputy will be aware, the HRI provides a tax relief by way of an income tax credit in respect of expenditure on qualifying work. Qualifying work is any repair, renovation or improvement works carried out on principal private residences or rental properties by tax compliant...

Written Answers — Department of Finance: VAT Rate Application (27 Nov 2018)

Paschal Donohoe: Currently, the standard rate of VAT applies to food supplements. However, there is a Revenue concession which allows the zero rate to be applied to certain types of food supplements (vitamins, minerals and fish oils). The practice of zero rating vitamins, minerals and fish oil food supplements has been applied since the introduction of VAT in November 1972 when the marketplace for food...