Results 18,961-18,980 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Data (19 Jun 2018)

Paschal Donohoe: I am informed by Revenue that although foreign resident music artists have a liability to Irish tax on income arising from the exercise of their profession in the State, it is not possible to quantify the amount of income earned by foreign resident music artists here. The reason lies in the incidental number of days the individuals are present in the Republic of Ireland, which creates...

Written Answers — Department of Finance: Tax Reliefs Application (19 Jun 2018)

Paschal Donohoe: As the Deputy may know, retirement relief for certain sportspersons was introduced in Finance Act 2002 and the categories of sportspersons that can avail of tax relief are set out in schedule 23A of the Taxes Consolidation Act 1997 (TCA). These categories include athletes, badminton players, boxers, cricketers, cyclists, footballers, golfers, jockeys, motor racing drivers, rugby players,...

Written Answers — Department of Finance: Local Authority Housing Mortgages (19 Jun 2018)

Paschal Donohoe: Home Building Finance Ireland (HBFI) is to be established to provide funding on market terms to viable residential development projects whose owners are experiencing difficulty in obtaining debt funding. The legislation establishing HBFI, the Home Building Finance Ireland Bill 2018, was published on 18 June 2018 and will now commence its passage through the Oireachtas. It is envisaged that...

Written Answers — Department of Finance: Insurance Costs (19 Jun 2018)

Paschal Donohoe: Both I and the Government are very conscious of the difficulties that increased insurance costs are having on the business sector and we continue to prioritise action in this area. Following the publication of its Report on the Cost of Motor Insurancein January 2017, the Cost of Insurance Working Group undertook an examination of the Employer Liability and Public Liability insurance sectors...

Written Answers — Department of Finance: Civil Partnership Legislation (19 Jun 2018)

Paschal Donohoe: I am advised by Revenue that section 88A of the Capital Acquisitions Tax Consolidation Act 2003 exempts transfers made between qualified cohabitants within the meaning of Part 15 of the Civil Partnership and Certain Rights and Obligations of Cohabitants (CPCROC) Act 2010. Part 15 provides for a redress scheme where court orders can be obtained in certain circumstances in relation to the...

Written Answers — Department of Finance: Tax Yield (19 Jun 2018)

Paschal Donohoe: I propose to take Questions Nos. 140 to 143, inclusive, together. In order to estimate the potential revenue from a wealth tax, it is necessary to identify the wealth held by individuals. As there is currently no such wealth tax in operation in Ireland, the Department understands that the Revenue Commissioners have no basis or requirement to compile the data needed to produce estimates in...

Written Answers — Department of Finance: Financial Services and Pensions Ombudsman Remit (19 Jun 2018)

Paschal Donohoe: As I informed the Deputy on Tuesday 12th June in response to PQ 24855, the Financial Services and Pensions Ombudsman Act 2017 provides for the following time limits in relation to long-term financial services. "(2) A complaint in relation to - (a) conduct referred to in section 44(1)(a) that, subject to the requirements specified in subsection (3), relates to a long-term financial service,...

Written Answers — Department of Finance: Departmental Expenditure (19 Jun 2018)

Paschal Donohoe: The total amount paid per project to the company Mediavest since 1 January 2016 to date is detailed in the following table. Year Project Amount 2017 We engaged Mediavest to place an advertorial with the Sunday Business Post to publicise the Department winning a National Training Award from the Irish Institute of Training and Development. €2,870.54

Written Answers — Department of Finance: Tax Yield (19 Jun 2018)

Paschal Donohoe: I am advised by Revenue that incomes from various sources, such as rental income, are combined in the tax assessment calculation and it is therefore not possible to identify the resulting tax yield from any one particular income source. Revenue have also advised me that the tax returns up to and including the 2015 tax year did not require rental income to be returned in a manner that...

Written Answers — Department of Finance: Tax Reliefs Availability (19 Jun 2018)

Paschal Donohoe: A review of the appropriate treatment for tax purposes of trade union subscriptions and professional body fees was carried out by my Department in 2016 and included in the 2016 report on tax expenditures published on budget day 2016. The review may be found at the following link: () The review concluded that: "... analysis of the scheme using the principles laid down by the...

Written Answers — Department of Finance: Data Protection (19 Jun 2018)

Paschal Donohoe: I plan to publish the legislation in relation to the national claims information database in the coming weeks, subject to approval by the Government. In drafting the Bill, my Department has kept in mind the need to ensure that data protection requirements are met. In broad terms, the Bill as drafted will require the Central Bank to collect data from insurance undertakings for the purpose...

Written Answers — Department of Finance: Public Consultation Process (19 Jun 2018)

Paschal Donohoe: My Department has carried out 56 public consultations since 2011, and a table providing the details is set out below. The majority of the consultations did not incur an explicit cost as part of the work carried out by staff in my Department in relation to public consultations. Such work forms part of the Department’s regular staff costs and is not itemised separately. Three...

Written Answers — Department of Finance: Motor Insurance Costs (19 Jun 2018)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland 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 willing to accept. This position is...

Written Answers — Department of Finance: NAMA Accounts (19 Jun 2018)

Paschal Donohoe: I wish to advise the Deputy that, as outlined in its recent 2017 Annual Report, NAMA expects to return a surplus to the State in the region of €3.5bn, subject to prevailing market conditions, when it completes its work. This is an increase of €500m from the previous estimate in its 2016 Annual Report, and a testament to the progress that NAMA has made in achieving its primary...

Written Answers — Department of Finance: Tax Code (19 Jun 2018)

Paschal Donohoe: Finance Act 2000 introduced the gross roll-up taxation regime for investments in certain investment undertakings and life assurance policies. Generally the regime provides that there is no annual tax on income or gains arising within the investment. Instead, tax applies at an investor level. Finance Act 2006 introduced the concept of deemed disposals every 8 years in relation to these...

Written Answers — Department of Finance: Stability and Growth Pact (19 Jun 2018)

Paschal Donohoe: The preventive arm of the Stability and Growth Pact endeavours to ensure that fiscal policy leads to sustainable public finances over the short and longer term. A key component is that Member States attain a country-specific Medium Term budgetary Objective (MTO) which is set in structural terms. For Ireland this is currently a structural deficit of 0.5 per cent of GDP. Assessment of...

Written Answers — Department of Finance: Government Bonds (19 Jun 2018)

Paschal Donohoe: I have been advised by colleagues in the Central Bank of Ireland that the Eurosystem does not publish details of the holdings of individual bonds under the Public Sector Purchase Programme (PSPP). The cumulative monthly net purchases of Irish Government bonds by the Eurosystem (ECB and Central Bank of Ireland) as part of the Public Sector Purchase Programme (PSPP) stood at €27,614...

Written Answers — Department of Finance: Motor Insurance Costs (19 Jun 2018)

Paschal Donohoe: The Deputy will be aware that the Cost of Insurance Working Group’s Report on the Cost of Motor Insurancewas published in January 2017. The Report makes 33 recommendations with 71 associated actions to be carried out in agreed timeframes, which are set out in an Action Plan in the Report. Work has been ongoing on the implementation of the recommendations by the relevant Government...

Written Answers — Department of Finance: Tax Yield (19 Jun 2018)

Paschal Donohoe: The tax on sugar-sweetened drinks commenced on 1 May 2018 and applies to water and juice based drinks with a sugar content of 5 grams per 100 millilitres or above. The rationale behind imposing a tax on sugar-sweetened drinks is to help tackle obesity by reducing the consumption of liable water and juice based drinks. Milk products are outside the scope of the tax on the basis that...

Written Answers — Department of Finance: VAT Rate Application (19 Jun 2018)

Paschal Donohoe: VAT is guided by the EU VAT Directive, with which Irish VAT law must comply. In Ireland, certain sanitary products, such as sanitary towels and tampons, are charged to VAT at the zero rate. Article 110 of the VAT Directive allows Member States to apply a zero rate of VAT to goods or services that are social in nature, that benefit the final consumer and which applied at a zero rate on and...