Results 18,581-18,600 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Compliance (11 Jul 2018)

Paschal Donohoe: I am aware of the recent report by the GUE/NGL group in the European Parliament. As the Deputy is aware, I am not at liberty, nor is it appropriate for me, to discuss the tax affairs of individual companies. I would first note that Revenue, as a statutorily independent body, monitors the tax affairs of taxpayers and takes a proactive approach to the identification of, and response to,...

Written Answers — Department of Finance: Universal Social Charge Review (11 Jul 2018)

Paschal Donohoe: I propose to take Questions Nos. 73 and 105 together. The Programme for Government commitment to the phasing out of the USC was specified to be as part of a wider medium-term process of income tax reform which would maintain the breadth of the tax base, while reducing excessive tax rates for middle income earners and limiting the benefits for high earners. We have made steady progress in...

Written Answers — Department of Finance: Community Banking (11 Jul 2018)

Paschal Donohoe: My Department and the Department of Rural and Community Development published a Report on Local Public Banking pursuant to the Programme for Partnership Government commitment to “thoroughly investigate the German Sparkassen model for the development of local public banks that operate in well-defined regions”. Specifically, the Report examined a proposal from Irish Rural...

Written Answers — Department of Finance: Motor Insurance Coverage (11 Jul 2018)

Paschal Donohoe: I propose to take Questions Nos. 75 and 86 together. I am aware of the concerns raised by the Deputies. However, you should note that neither the Minister for Finance, the Central Bank nor I can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are...

Written Answers — Department of Finance: Brexit Negotiations (11 Jul 2018)

Paschal Donohoe: The Government are negotiating to avoid a hard border on the island of Ireland. 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. This includes ‘no deal’ contingency planning. This planning provides base line scenarios for the impact of...

Written Answers — Department of Finance: Economic Growth (11 Jul 2018)

Paschal Donohoe: Recent economic indicators have generally been positive, indicating that the recovery is continuing in a sustainable manner. Preliminary real GDP growth of 7.8 per cent was recorded for 2017, but this is heavily distorted by activity in the multinational sector. Modified domestic demand, which adjusts for distortions in the data, is up 4.0 per cent in 2017. The strength of domestic...

Written Answers — Department of Finance: Revenue Commissioners Enforcement Activity (11 Jul 2018)

Paschal Donohoe: I propose to take Questions Nos. 78 and 106 together. The threat that fuel fraud and the illicit tobacco trade pose to legitimate business, to consumers and the Exchequer is clear and I am advised by Revenue that taking action against this criminality continues to be a priority for them. Steps taken by Revenue to combat the illegal fuel trade include the introduction of stringent new...

Written Answers — Department of Finance: Tax Appeals Commission (11 Jul 2018)

Paschal Donohoe: The Tax Appeals Commission (TAC) was established with the goal of providing an enhanced and cost-effective appeal mechanism for tax cases, and to provide transparency and increased certainty for taxpayers. While dealing with the backlog of appeals is a matter for the independent Commission, I was happy to support the work of the Commissioners in this regard by, since their inception,...

Written Answers — Department of Finance: Motor Insurance Costs (11 Jul 2018)

Paschal Donohoe: I propose to take Questions Nos. 80 and 97 together. The Cost of Insurance Working Group’s Report on the Cost of Motor Insurance was published in January 2017 and makes 33 recommendations with 71 associated actions to be carried out in agreed timeframes, set out in an Action Plan. In line with the commitment to publish quarterly update reports on the implementation of the...

Written Answers — Department of Finance: Promissory Notes (11 Jul 2018)

Paschal Donohoe: While it may appear prudent to replace debt that was issued at a higher borrowing cost than the cost that applies to debt issued today, the reality is more complex and often less attractive. When bond yields fall, the market value of debt issued at higher rates goes up. This means it would cost the National Treasury Management Agency (NTMA) more to buy that debt from the investors who hold it...

Written Answers — Department of Finance: State Aid Investigations (11 Jul 2018)

Paschal Donohoe: Ireland has never accepted the Commission’s analysis in the Apple State aid decision and is challenging the Commission's decision before the European Courts. Notwithstanding this, the Irish authorities have engaged fully with the Commission throughout the State aid investigation. This involved a significant degree of legal and technical complexity, and additional expertise has been...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (11 Jul 2018)

Paschal Donohoe: I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses, and that is one of the reasons the Government has been prioritising investment in flood defences over the last number of years. However, the provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is...

Written Answers — Department of Finance: European Council Meetings (11 Jul 2018)

Paschal Donohoe: The June ECOFIN Council commenced with a Breakfast discussion on the economic situation and Ministers were debriefed by the Eurogroup President on the Eurogroup meeting held on the day before. We also discussed the future of EU finances in the framework of discussions on the next multiannual financial framework. On the legislative side of the agenda, the Council discussed the VAT "quick fix"...

Written Answers — Department of Finance: Dog Breeding Industry (11 Jul 2018)

Paschal Donohoe: I am advised by Revenue that dog breeding businesses are monitored for compliance with tax and duty obligations in the same way as taxpayers across all other business sectors. This includes analysing risk indicators and selecting cases for intervention based on the risks identified. Depending on the level of risk identified the intervention can include assurance checks, tax audit or...

Written Answers — Department of Finance: Mortgage Book Sales (11 Jul 2018)

Paschal Donohoe: As the Deputy will be aware, I do not have a role in the decision making process of banks which must be run on a commercial basis. This is the responsibility of the Board and management of the banks. In relation to the issue of the sale of distressed mortgages, the Single Supervisory Mechanism (SSM) has tasked the management and board of each institution with developing and implementing...

Written Answers — Department of Finance: Corporation Tax Regime (11 Jul 2018)

Paschal Donohoe: I propose to take Questions Nos. 89 and 109 together. Corporation Tax Loss Relief is provided for by Section 396 of the Taxes Consolidation Act (TCA) 1997. It allows for losses incurred in the course of business to be taken into account when calculating the business’ tax liabilities on certain profits incurred in other accounting periods. Loss relief for corporation tax is a long...

Written Answers — Department of Finance: Insurance Costs (11 Jul 2018)

Paschal Donohoe: The second phase of the Cost of Insurance Working Group project culminated in the publication on January 25th of the Report on the Cost of Employer and Public Liability Insurance, following its approval by Government. This Report makes 15 recommendations with 29 associated actions to be carried out, detailed in an Action Plan contained in the Report with agreed timelines for implementation....

Written Answers — Department of Finance: Mortgage Lending (11 Jul 2018)

Paschal Donohoe: The Central Bank undertook the recent review of mortgage related advertising, with a focus on cash back incentives, to assess whether or not lenders were advertising mortgages with cashback offers in a clear and unambiguous way. 183 advertisements were reviewed for compliance with the advertising requirements in the Consumer Protection Code 2012 (the Code) and the European Union (Consumer...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (11 Jul 2018)

Paschal Donohoe: Indecon Economic Consultants are currently carrying out a review the Employment and Investment Incentive (EII). I expect that the report will be completed within the next month or so. The findings of the review, when concluded, will, amongst other factors, inform any decisions I may make on the future configuration of the incentive in the context of Budget 2019 and otherwise. The scope...

Written Answers — Department of Finance: VAT Exemptions (11 Jul 2018)

Paschal Donohoe: The European Commission published a proposal on 18 January 2018 which aims to simplify VAT rating. This proposal aims to give Member States more flexibility in setting VAT rates. The proposal will be discussed at European Council and must be agreed unanimously by all Member States before being adopted. It is expected that discussions on the proposal will be robust and it is likely that the...