Results 19,221-19,240 of 32,610 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Financial Services Regulation (16 May 2018)

Paschal Donohoe: The Deputy has referred to unregulated third parties acting on behalf of lenders and possible plans to ensure that such third parties are obliged to comply with regulations including Codes of Conduct. Government policy has been that the sale of a loan book should not result in a loss of protections for borrowers. The Consumer Protection (Regulation of Credit Servicing Firms) Act 2015...

Written Answers — Department of Finance: Real Estate Investment Trusts (16 May 2018)

Paschal Donohoe: Real Estate Investment Trusts (REITs) are collective investment vehicles designed to hold rental investment properties in a tax neutral manner. They are focused on long-term holding of income-producing property as opposed to short term speculative gains. The function of the REIT framework is not to provide an overall tax exemption, but rather to facilitate collective investment in rental...

Written Answers — Department of Finance: Revenue Commissioners Data (16 May 2018)

Paschal Donohoe: I am advised by Revenue that tackling shadow economy activity continues to be one of its key priorities.   As part of its compliance programme, Revenue works in co-operation with the Department of Employment Affairs and Social Protection (DEASP) and the Workplace Relations Commission (WRC) to pursue employers engaged in the misclassification of employees as self-employed individuals....

Written Answers — Department of Finance: Corporation Tax Regime (16 May 2018)

Paschal Donohoe: 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 accounted for when calculating a business’ tax liabilities. Loss relief for corporation tax is a long standing feature of the Irish Corporate Tax system and is a standard feature of Corporation Tax systems in all...

Written Answers — Department of Finance: NAMA Social Housing Provision (16 May 2018)

Paschal Donohoe: It is important to note that assets often referred to as "NAMA land" or "NAMA properties" are not owned by NAMA.  NAMA owns loans.  Such property is owned by private persons who owe money to NAMA ("NAMA debtors") and serves as collateral for those amounts owed. All borrowers have the right to maximise the value of the property which secures his/her loan.  NAMA cannot force a...

Written Answers — Department of Finance: Stability and Growth Pact (16 May 2018)

Paschal Donohoe: The Department continues to use the EU harmonised methodology to estimate the level of potential output as it is the legally binding reference method used by the Commission for assessment of Member State’s compliance with the Stability and Growth Pact. However, to the extent that the harmonised methodology can be characterised as a “one size fits all” approach for...

Written Answers — Department of Finance: State Claims Agency Data (16 May 2018)

Paschal Donohoe: I am informed by the State Claims Agency (SCA) that as of 4 May 2018, there were 10,447 active claims recorded on the National Incident Management System (NIMS). NIMS is an IT system which is hosted by the SCA for the HSE, other Healthcare enterprises and Delegated State Authorities, and is used to manage and report on incidents and active claims. These 10,447 active claims are broken down...

Written Answers — Department of Finance: Customs and Excise Controls (16 May 2018)

Paschal Donohoe: The precise customs arrangements that will apply after Brexit in all locations, including Rosslare Europort, will depend on the outcome of negotiations between the EU and UK. Similar to other Government agencies and Departments, Revenue is actively engaged in examining a range of scenarios within the context of the Government’s contingency planning, which is being undertaken within...

Written Answers — Department of Finance: Community Banking (16 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 35 and 40 together. The Programme for a Partnership Government contains a commitment to "thoroughly investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions". My Department, along with the Department of Rural and Community Development, are responsible for fulfilling this commitment.  ...

Written Answers — Department of Finance: Tax Yield (16 May 2018)

Paschal Donohoe: Tax revenue was below profile by just 1.2 per cent (€141 million) to end-quarter one 2018, contributed to by some small shortfalls across a number of headings. Furthermore, tax revenues to end-March are showing strong year-on-year growth of 3.5 per cent or €401 million. It is important to point out that it is still too early in the tax collection calendar to discern any...

Written Answers — Department of Finance: Corporation Tax Regime (16 May 2018)

Paschal Donohoe: On the matter of the effective corporate tax rate paid by corporations in Ireland, there have been seemingly conflicting figures and methodologies used in reference to Ireland. In April 2014, my Department prepared and presented a report for the Finance Committee to explain figures which are quoted and attributed to Ireland on this matter. This technical paper, available on the...

Written Answers — Department of Finance: State Aid Investigations (16 May 2018)

Paschal Donohoe: The Government does not accept the Commission’s analysis in the Apple State aid Decision and has lodged an appeal in the European Courts. However, we have always been clear that we are fully committed to ensuring that recovery of the alleged Apple State aid takes place and have committed significant resources to ensuring this is achieved. Given the unprecedented scale of the recovery...

Written Answers — Department of Finance: Legislative Programme (16 May 2018)

Paschal Donohoe: As announced in my Budget speech on 10 October 2017, 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.  Up to €750 million of ISIF funds will be allocated to HBFI to provide funding on market terms and the fund is estimated to...

Written Answers — Department of Finance: Cycle to Work Scheme Expenditure (16 May 2018)

Paschal Donohoe: The Deputy will recall that the Cycle To Work scheme came into operation on 1 January 2009. The scheme operates on a self-administration basis, and relief is automatically available provided the employer is satisfied that the conditions of their particular scheme meet the requirements of the legislation. There is no notification procedure for employers involved. This approach was taken with...

Written Answers — Department of Finance: Insurance Costs (16 May 2018)

Paschal Donohoe: The Deputy should note that in my role as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank can interfere in the pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on the risks they are willing to accept. However, it is...

Written Answers — Department of Finance: Insurance Industry Regulation (16 May 2018)

Paschal Donohoe: The second phase of the Cost of Insurance Working Group project culminated in the publication on January 25 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...

Written Answers — Department of Finance: Tax Reliefs Availability (16 May 2018)

Paschal Donohoe: As the Deputy will be aware, a comprehensive review of the Irish Corporate Tax system, undertaken by Mr Seamus Coffey as an independent expert, was published in 2017. The terms of reference for the Review of Ireland’s Corporation Tax Code included: tax transparency; avoiding preferential treatment; further implementing Ireland’s international commitments; delivering tax...

Written Answers — Department of Finance: Tax Code (16 May 2018)

Paschal Donohoe: The Deputy will be aware that on 21 March the European Commission published two proposed Directives which seek to tax certain digital activities differently within the EU. One, a ‘temporary’ solution for a 3% levy on turnover from certain digital service activities. The second, "comprehensive solution" requires an overhaul of international taxation, establishing the concept of...

Written Answers — Department of Finance: Insurance Compensation Fund (16 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: Legislative Programme (16 May 2018)

Paschal Donohoe: I am pleased to say that the General Scheme of a Rainy Day Bill has been prepared. I have circulated my proposals with a view to bringing them to Government in the coming weeks for a decision on drafting, in parallel with pre-legislative scrutiny. The Bill will provide the necessary legislative underpinning for the Fund. My intention remains to transfer €1.5...