Results 18,401-18,420 of 32,864 for speaker:Paschal Donohoe

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

Paschal Donohoe: I propose to take Questions Nos. 175, 177 and 178 together. I am informed by Revenue that estimates of the Exchequer impact from changes to the rate of Capital Gains Tax (CGT) can be found in the Revenue Ready-Reckoner at .  While the Ready Reckoner does not show the cost of reducing the rate to 20% as requested by the Deputy, it can be estimated on a pro-rata or straight-line basis with...

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

Paschal Donohoe: It is assumed that the Deputy is referring to the revised Entrepreneur Relief provided for in Section 597AA of the Taxes Consolidation Act 1997. I am advised by Revenue that the current lifetime limit applicable to this relief is €1 million in chargeable gains at a CGT rate of 10%. The cost of increasing this limit to €15 million as suggested by the Deputy would be approximately...

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

Paschal Donohoe: Irish VAT law must comply with the EU VAT Directive, which directs that Member States must apply a standard VAT rate of 15% or more.  Ireland's standard VAT rate is currently 23% and it is possible under EU VAT law to reduce the rate to 20%. Reducing the standard rate from 23% to 20% would cost the Exchequer almost €1.4 billion. Further statistics in relation to the cost or yield...

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

Paschal Donohoe: VAT is governed by the EU VAT Directive, with which Irish VAT law must comply. The VAT Directive provides that VAT registration thresholds may only be raised by Member States to maintain their value in real terms, that is, they may only be increased in line with inflation. Our VAT thresholds were increased to their current values, €37,500 for services and €75,000 for goods, on...

Written Answers — Department of Finance: Mortgage Repayments (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 definition Europe-wide of what constitutes an NPL by the European Banking Authority (EBA) which means that certain restructures are deemed NPL even if...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (7 Sep 2018)

Paschal Donohoe: I propose to take Questions Nos. 182 and 183 together. The Strategic Banking Corporation of Ireland (SBCI) is Ireland’s National Promotional Institution for SMEs and its strategic mission is to deliver effective financial supports to Irish SMEs that address failures in the Irish credit market, while driving competition and innovation and ensuring the efficient use of available EU...

Written Answers — Department of Finance: Small and Medium Enterprises (7 Sep 2018)

Paschal Donohoe: The Deputy will be aware that in my role as Minister for Finance I have no direct function in the relationship between the banks and their customers. I have no statutory function in relation to the banking decisions made by individual lending institutions at any particular time; these are taken by the board and management of the relevant institution. This includes decisions in relation...

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

Paschal Donohoe: I am advised by Revenue that the estimates originally published in the Pre-Budget 2019 Ready Reckoner for the cost of increasing the earned income credit were incorrect. The matter has been rectified and the correct figures are now published in the Ready Reckoner which is available at . Revenue has confirmed that the earned income credit was...

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

Paschal Donohoe: As the Deputy will be aware, the base erosion anti-abuse tax or "BEAT" is an anti-avoidance measure that applies to very large companies ($500 million of sales in the USA per annum) who make large payments to foreign related companies.  It works by requiring the company to re-calculate its entire US tax bill to see what it would pay if it were subject to a 10% tax rate but all deductions...

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

Paschal Donohoe: The Department of Finance continues to monitor developments in the construction sector, including the risk of overheating.  While professional training and skills needs in the industry are the responsibility of the Department of Education and Skills, the Department of Finance also monitors developments in this area. The key indicators for the construction sector do not suggest...

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

Paschal Donohoe: The Government’s contingency planning for Brexit was initiated well in advance of the UK referendum in June 2016. To this end, co-ordination of the whole-of-Government response to Brexit is being taken forward through the cross-Departmental coordination structures chaired by the Department of Foreign Affairs and Trade and on 18 July the Tánaiste presented a Memorandum to the...

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

Paschal Donohoe: The Department of Finance has been assessing and preparing for the impact of Brexit since well before the referendum on 23 June 2016, with this work now intensified. The primary policy areas for the Department relate to the economic and financial sector implications stemming from Brexit. This work is being undertaken within the whole-of-Government framework coordinated by the Department of...

Written Answers — Department of Finance: National Payments Plan Implementation (7 Sep 2018)

Paschal Donohoe: Over the past number of years, the EU has been creating a single market for payments across the Member States and my Department has been working on transposing those measures. The Payment Accounts Directive was transposed in September 2016, ensuring access to a payment account with basic features for anyone who does not have a payment account. The revised Payment Services Directive...

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

Paschal Donohoe: My Department has so far received in the order of 200 Pre-Budget Submissions from a wide range of groups and individuals. These are being considered by the relevant officials in the context of Budget and Finance Bill preparation. I can confirm that a submission from the organization in question has been received. However, as the Deputy will be aware, it is not the practice of the...

Written Answers — Department of Finance: Private Rented Accommodation (7 Sep 2018)

Paschal Donohoe: The Department of Finance monitors developments in the residential rental market on an ongoing basis. My Department uses data from daft.ie, the Central Statistics Office, the Residential Tenancies Board and myhome.ie to monitor rental prices as well as the supply and stock of rental properties.  Rental market policy is primarily the responsibility of my colleague the Minister for...

Written Answers — Department of Public Expenditure and Reform: Construction Industry (7 Sep 2018)

Paschal Donohoe: I should begin by explaining my Department's role in relation to the matter raised by the Deputy. In February 2018 my Department produced the National Development Plan (NDP) 2018-2027 which, together with the National Planning Framework makes up Project Ireland 2040. The NDP sets out a strategic vision for Ireland’s public infrastructure priorities over the next 10 years and...

Written Answers — Department of Public Expenditure and Reform: Public Sector Pensions Levy (7 Sep 2018)

Paschal Donohoe: The Pension-Related Deduction (PRD) is provided for in law under the Financial Emergency Measures in the Public Interest Act 2009 (as amended). PRD is a deduction from the salary of Public Servants who 1. are members of a Public Service pension scheme, 2. have an entitlement to a Public Service pension benefit, preserved or in payment, or 3. who receive/have received a payment-in-lieu...

Written Answers — Department of Public Expenditure and Reform: Public Procurement Contracts Data (7 Sep 2018)

Paschal Donohoe: The Office of Government Procurement (OGP) supports and facilitates Contracting Authorities in awarding contracts for a variety of print services.  The OGP does not have a specific category for 'secure printing' however has facilitated procurement competitions on behalf of Contracting Authorities for print services which have included elements of security. Such competitions have...

Written Answers — Department of Public Expenditure and Reform: Garda Stations (7 Sep 2018)

Paschal Donohoe: The former Garda station at Lauragh, Co. Kerry closed in 2013 under the Garda Rationalisation Programme. The Commissioners of Public Works sold the property for €115,000 and the monies were received in March 2016. The Residential Property Price Register is produced by the Property Services Regulatory Authority pursuant to Section 86 of the Property Services (Regulation) Act 2011....

Written Answers — Department of Public Expenditure and Reform: Public Procurement Regulations (7 Sep 2018)

Paschal Donohoe: Public procurement in Ireland is governed by legal requirements, rules and guidelines set both at national and EU level. The aim of European and national rules is to promote an open, competitive and non-discriminatory public procurement regime which delivers best value for money.  The general requirements for works and works-related contracts are set out in the Capital Works Management...