Results 19,301-19,320 of 32,643 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Reliefs Availability (15 May 2018)

Paschal Donohoe: I assume that the deputy is referring to the Special Assignee Relief Programme (SARP), which is provided for in section 825C Taxes Consolidation Act 1997. SARP allows income tax relief on a portion of income earned by an employee who is assigned by his or her employer to work in the State for that employer or for an associated employer. The relief can generally be claimed for a maximum...

Written Answers — Department of Finance: Tax Code (15 May 2018)

Paschal Donohoe: I assume the Deputy is referring to Tax and Duty Manual 42.4.65 which Revenue issued on 17 April 2018. I am advised by Revenue that its recent updating of guidance on the tax position of foreign assignees followed extensive consultation by Revenue with practitioner representatives. This included detailed discussions in early March on draft text which had been circulated for comment to the...

Written Answers — Department of Finance: Banking Sector Investigations (15 May 2018)

Paschal Donohoe: It is a matter for the Central Bank to oversee the operation of regulated financial service providers in Ireland. That said, in an effort to assist the Deputy, I have contacted Ulster Bank about its complaints process in relation to Global Restructuring Group. Ulster Bank have confirmed that following on from the UK Financial Conduct Authority’s (FCA) appointment of a Skilled Person...

Written Answers — Department of Finance: State Claims Agency (15 May 2018)

Paschal Donohoe: It was not possible for the State Claims Agency to provide the information sought in the time available and, therefore, I will make arrangements to provide the information in line with Standing Orders.

Written Answers — Department of Finance: Budget Consultation Process (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 139 to 141, inclusive, together. Table 3 on page 22 of the Summer Economic Statement (SES) 2017 set out an indicative amount of €3.2 billion, based on the parameters available at that time, in respect of the estimate of net fiscal space for 2019. In arriving at the net amount the fiscal space impact of certain pre-committed voted expenditure was...

Written Answers — Department of Finance: National Development Plan Expenditure (15 May 2018)

Paschal Donohoe: Forecasts beyond 2021 have not been compiled or published by my Department. There is no impact resulting from the National Development Plan (NDP) in 2018. The impact for 2019 - 2021 was set out in my response to PQ number 160 on 27 February 2018 and is reproduced here for the Deputy's convenience. The specific impact of the NDP out to 2021 on the Exchequer Borrowing Requirement (EBR), based...

Written Answers — Department of Finance: Budget Measures (15 May 2018)

Paschal Donohoe: In Budget 2018, I announced my intention to capitalise the Rainy Day Fund with €1.5 billion from the Ireland Strategic Investment Fund. The budgetary projections published last month in the Stability Programme Update 2018 (Table 8) include provision for €500 million to the Rainy Day Fund for each year from 2019 to 2021 (the end of the time horizon projected in the update). My...

Written Answers — Department of Finance: State Claims Agency Data (15 May 2018)

Paschal Donohoe: The State Claims Agency (SCA) is part of the National Treasury Management Agency (NTMA), which is a body under the aegis of the Minister for Finance. The SCA have supplied the information included in this report, and confirmed that it is correct as of 14thMay 2018. This report shows the number of active claims managed by the State Claims Agency in relation to historical child sexual abuse...

Written Answers — Department of Finance: State Claims Agency Data (15 May 2018)

Paschal Donohoe: The State Claims Agency (SCA) is part of the National Treasury Management Agency (NTMA), which is a body under the aegis of the Minister for Finance. The SCA have supplied the information included in this report, and confirmed that it is correct as of 14 May 2018. This report shows the number of claims finalised between 2008 to date by the SCA in relation to historical child sexual abuse...

Written Answers — Department of Finance: Tax Code (15 May 2018)

Paschal Donohoe: It is important to note that the imposition of a cap on capital allowances for intangible assets only affects the timing of relief in the form of capital allowances and related interest expenses for intangible assets but would not affect the overall quantum of relief. This is because any amounts restricted in one accounting period as a result of a cap would be available for carry forward and...

Written Answers — Department of Finance: Corporation Tax Regime (15 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 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 OECD countries. ...

Written Answers — Department of Finance: VAT Exemptions (15 May 2018)

Paschal Donohoe: In line with my Budget 2018 announcement, a VAT compensation scheme for charities will be introduced in 2019 in respect of VAT expenses incurred in 2018. Charities will be entitled to a refund of a proportion of their VAT costs based on the level of non-public funding they receive, from a total capped fund of €5m. Work on this scheme by officials of my Department and the Office of...

Written Answers — Department of Finance: Tax Code (15 May 2018)

Paschal Donohoe: In Budget 2016, the Minister for Finance committed to extending the bank levy (a form of stamp duty paid by financial institutions) until 2021, subject to a review of the calculation methodology. This took place during 2016, including a public consultation to ascertain the views of stakeholders. Following on from this, it was decided to retain the existing DIRT-based calculation...

Written Answers — Department of Finance: Financial Services Regulation (15 May 2018)

Paschal Donohoe: The Central Bank's total funding requirement for financial regulation activity is determined on an annual basis by the resources required to discharge its legal responsibilities under domestic and EU law. Section 32D and 32E of the Central Bank Act 1942, as amended, provide that the Central Bank Commission may make regulations relating to the imposition of levies and fees on the financial...

Written Answers — Department of Finance: Tax Collection (15 May 2018)

Paschal Donohoe: I am advised by Revenue that Revenue's Comprehensive Review of Expenditure 2014 estimated that by increasing audit staffing resources by c.100 staff an additional exchequer yield of €50m per annum could be achieved. It was estimated that by increasing staff on compliance projects such as oils, tobacco and alcohol by 100 could raise €20m per annum. On this basis it is...

Written Answers — Department of Finance: Tax Credits (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 152 and 153 together. I am advised by Revenue that the cost of increasing the earned income tax credit to the levels set out by the Deputy, in addition to introducing a taper of this increase such that those with incomes in excess of €100,000 would only be able to avail of the existing level of the earned income tax credit of €1,150 is set out in...

Written Answers — Department of Finance: Help-To-Buy Scheme (15 May 2018)

Paschal Donohoe: Help to Buy (HTB) has a sunset clause (31/12/2019). Concluding the scheme a year early would not result in additional budgetary resources, rather it would bring forward budgetary resources that have been assigned to 2020. HTB is a demand led incentive and, as such, it is not possible to give a precise estimate of cost for 2019. However, at the time of Budget 2017, my department...

Written Answers — Department of Finance: Tax Code (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 155 and 157 together. Finance Act 2013 introduced the regime for the operation of Real Estate Investment Trusts (REITs) in Ireland. The function of the REIT framework is not to provide an overall tax exemption but rather to facilitate collective investment in rental property by removing a double layer of taxation which would otherwise apply on property...

Written Answers — Department of Finance: Tax Code (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 156 and 158 together. The Irish Real Estate Fund (IREF) regime was introduced by Finance Act 2016. In general terms, the regime provides that profits arising to Irish funds from Irish property remain within the charge to Irish tax. An IREF is an investment undertaking where 25 per cent or more of the value of the assets of the undertakings is derived...

Written Answers — Department of Finance: Universal Social Charge Data (15 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 159 and 163 together. I am advised by Revenue that the available information is in the detailed income distribution statistics published by Revenue for 2015, the most recent year for which complete tax returns data are available, at the link: www.revenue.ie/en/corporate/information-about-revenue/statis tics/income-distributions/it-ct-distributions.aspx. In...