Results 18,961-18,980 of 32,610 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (30 May 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...

Written Answers — Department of Finance: Mortgage Interest Relief Application (30 May 2018)

Paschal Donohoe: At present, there are no plans to provide specific additional income tax relief for mortgage payments, as the Government’s priority is on reducing the income tax burden for low to middle income earners, while limiting the benefit for high earners and keeping the tax base broad. As indicated in the last two Budgets, Mortgage Interest Relief is being phased out.  The residual...

Written Answers — Department of Finance: Motor Insurance Costs (30 May 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 Public Expenditure and Reform: Community Employment Schemes Supervisors (30 May 2018)

Paschal Donohoe: I would refer the Deputy to my responses to PQ 54985/17 of 16 January 2018, and to PQ 13684/18 of 27 March 2018.

Written Answers — Department of Finance: Insurance Compensation Fund (29 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 151 and 186 together. Setanta Insurance was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law. The Deputy will be aware that under the Insurance Act 1964, as amended, monies may be paid out of the Insurance Compensation...

Written Answers — Department of Finance: Credit Union Services (29 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 152 and 153 together. The Credit Union Act, 1997 (1997 Act) sets out the services that a credit union may provide to its members. In addition, the Credit Union Act 1997 (Regulatory Requirements) Regulations 2016 (2016 Regulations) provides for services exempt from additional services requirements. Where a credit union wishes to provide services to its...

Written Answers — Department of Finance: Tax Reliefs Availability (29 May 2018)

Paschal Donohoe: The rural renewal scheme provided for a scheme of tax reliefs aimed at invigorating certain areas of rural Ireland. Relief is only available for expenditure on construction, refurbishment or conversion work that was carried out during the qualifying period for the scheme. The qualifying period for the rural renewal scheme originally terminated on 31 December 2004 but was extended to 31...

Written Answers — Department of Finance: Tax Collection (29 May 2018)

Paschal Donohoe: The only foreign artiste withholding tax which Ireland has is the film withholding tax (“FWT”). FWT is a 20% withholding tax that applies for certain payments to non-resident artistes. FWT only applies to non-resident artistes, who are resident outside the EU/EEA and who are engaged by companies qualifying for the film tax credit under section 481 TCA. It does not apply to...

Written Answers — Department of Finance: Mortgage Resolution Processes (29 May 2018)

Paschal Donohoe: The definition of a non-performing buy to let loan is the same as that of any other credit exposure and applies to exposures which are more than 90 days past-due; and/or the borrower is assessed as unlikely to pay their credit obligations in full without realisation of collateral, regardless of the existence of any past-due amount or of the number of days past due. In relation to the second...

Written Answers — Department of Finance: Tax Rebates (29 May 2018)

Paschal Donohoe: I am advised by Revenue that the refunds in question were approved and processed on 23 May 2018. The refunds will be credited to the person’s bank account in the coming days.

Written Answers — Department of Finance: Mortgage Repayments (29 May 2018)

Paschal Donohoe: Mortgage and other loan agreements will contain terms for the repayment of the credit, including in relation to the timing and frequency of the repayments. It would also be open to the parties to agree any adjustment to the repayment terms as considered desirable during the life of the credit agreement. The Central Bank advises that there are no particular regulatory measures governing...

Written Answers — Department of Finance: Banking Sector Regulation (29 May 2018)

Paschal Donohoe: I have been advised by the Central Bank of Ireland that under Provision 14(1)(h) of the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (‘Mortgage Credit Regulations’), the lender must make available to the borrower, on paper or another durable medium, “an indication of possible further costs, not included in the total cost of the credit to the...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (29 May 2018)

Paschal Donohoe: The qualifying provisions for the Disabled Drivers and Passengers Scheme are contained in Statutory Instrument No. 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994). Regulations 8 (disabled drivers), 10 (disabled passengers) and 12 (organisations) provide that a vehicle must be “purchased” by the person or organisation. Revenue...

Written Answers — Department of Finance: Vehicle Registration (29 May 2018)

Paschal Donohoe: I am advised by Revenue that, for the majority of vehicles, vehicle registration tax (VRT) is charged on the open market selling price (OMSP) of the vehicle which is defined in section 133, Finance Act 1992 as the price of the vehicle, including all taxes and duties, that a manufacturer or distributor can reasonably expect to fetch on a first arm’s length sale by retail. The...

Written Answers — Department of Finance: National Economic Dialogue (29 May 2018)

Paschal Donohoe: The National Economic Dialogue 2018 will take place on 27-28 June. The Dialogue will be an opportunity for stakeholders from a variety of backgrounds to consider how to optimise available resources in the interests of all citizens. Several civic society bodies representing community and voluntary groups, employers, trade unions, agriculture and the environmental groups have been invited,...

Written Answers — Department of Finance: VAT Yield (29 May 2018)

Paschal Donohoe: I am advised by Revenue that traders are not required to separately identify the yield generated from a particular activity or product type on their VAT returns. The information is therefore not available to provide an estimate of the VAT received from plastics and materials used in the production of fodder and silage. The VAT charged on plastics and materials used in the production of...

Written Answers — Department of Finance: Insurance Industry (29 May 2018)

Paschal Donohoe: The development of the National Claims Information Database is a complex project as insurers very often record data in different ways and do not necessarily use the same definitions. On 19 December 2017, the Government approved the General Scheme of the Central Bank (National Claims Information Database) Bill. The Bill is included in the Government Legislative Programme on the list of...

Written Answers — Department of Finance: Insurance Industry (29 May 2018)

Paschal Donohoe: I would like to clarify at the outset that it is possible for an insurance undertaking authorised in one member state to conduct business in another EU/EEA state either through: - establishing a branch operation in the host country and thus  conducting business on a ‘freedom of establishment’ (FOE) basis; or - writing business from the home country (i.e. where...

Written Answers — Department of Finance: Insurance Compensation Fund (29 May 2018)

Paschal Donohoe: Setanta Insurance was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law. The Deputy will be aware that under the Insurance Act 1964, as amended, monies may be paid out of the Insurance Compensation Fund (ICF), with the approval of the High Court, in...

Written Answers — Department of Finance: Tax Code (29 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 167 and 168 together. I am advised by Revenue that income from investments - including rental income on property investments – made by approved pension funds is exempt from income tax by virtue of section 774(3) Taxes Consolidation Act 1997 (TCA).  Section 608(2) TCA grants exemption from capital gains tax on gains accruing on the disposal of...