Results 19,361-19,380 of 32,924 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Expenditure (22 May 2018)

Paschal Donohoe: The information requested by the Deputy for 2017 for consultancy services is contained in the following table. Supplier Amount Details William Fry 1,663,748 Legal Advice Arthur Cox 286,960 Legal advice Indecon 67,121 Professional Fees Behaviour & Attitudes 64,575 Credit Demand Survey (Recoupable) Reveal Data Corporation 15,867 eDiscovery – IT Consultancy Colm...

Written Answers — Department of Finance: VAT Exemptions (22 May 2018)

Paschal Donohoe: Mountain rescue services are treated in a similar manner to charities in that they are exempt from VAT under the EU VAT Directive. This means that they do not register for VAT and cannot recover VAT incurred on goods and services that they purchase. This non-entitlement to VAT deductibility is a general feature of VAT exemption. However, in Budget 2018 I announced a VAT...

Written Answers — Department of Finance: EU Regulations (22 May 2018)

Paschal Donohoe: The , which transposed the Mortgage Credit Directive into Irish law, applies to all relevant credit agreements that come into effect after 21 March 2016. While the Central Bank has not provided any formal guidance on the matter, part 10 of the Mortgage Credit Regulations provides that a consumer has a right to discharge fully or partially his or her obligations under a credit agreement prior...

Written Answers — Department of Finance: Revenue Documents (22 May 2018)

Paschal Donohoe: I am advised by Revenue that in the absence of the details of the specific case, it is not possible to be precise about a suggested approach to resolving this issue. However, where there may be a dispute between a taxpayer and his or her accountant, resolution of the dispute is not a matter in which Revenue has a role. Ultimately, the onus is on a taxpayer to ensure compliance with return...

Written Answers — Department of Finance: NAMA Property Construction (22 May 2018)

Paschal Donohoe: At the outset, I wish to advise the Deputy that NAMA does not own property. Instead NAMA acquired loans and its role is as a secured lender. NAMA-secured property continues to be owned and managed by the property owner, or receiver where one has been appointed. Where NAMA-secured lands have been targeted for the delivery of residential housing, the Deputy will be aware that...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: As the Deputy is aware, in fulfilment of Recommendation 1 from the Report on the Cost of Motor Insurance, a protocol was agreed between Insurance Ireland and my Department which provides a list of reasons for large increases in motor insurance premiums. The content of the agreed document is available on the websites and the social media channels of the major motor insurance...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: I propose to take Questions Nos. 144 and 145 together. The implementation of Recommendations 2 and 3 is being carried out by the Central Bank of Ireland. As Minister for Finance, I support the objective of the Recommendations which involve enhancing the information provided to consumers and improving their experience in taking out an insurance policy. On 9 November 2017,...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. 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...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: As the Deputy is aware, in fulfilment of Recommendation 6 from the Report on the Cost of Motor Insurance, a protocol was agreed between Insurance Ireland and the Department of Finance under which insurance companies have committed to accepting the driving experience returning emigrants gained while abroad, when the driver has had previous driving experience in Ireland. The guiding principle...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: As the Deputy will recall, Recommendation 8 from the Report on the Cost of Motor Insurance requires that a protocol be put in place around the requirement for insurance providers to notify a policyholder of claims made against them. As Minister for Finance, I believe policyholders should of course be informed of a claim as soon as possible after it has been lodged. In...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: At the outset the Deputy should note that the Cost of Insurance Working Group’s starting position on insurance for small public service vehicles is that it was not possible for it to make a recommendation on pricing as this is primarily a commercial matter for insurers. It did however recognise that this sector serves a social as well as an economic purpose, particularly in rural...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: The Deputy will be aware that the Minister of State, with special responsibility for Financial Services and Insurance, Michael D'Arcy T.D., published the second Motor Insurance Key Information Report of the Cost of Insurance Working Group (the Working Group) on 11 May 2018. The Report is the second in a series of reports designed to address Recommendation 12 of the Cost of Insurance Working...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: Recommendation 13 of the Cost of Insurance Working Group recommended that the Department of Finance consider the feasibility of a longer term insurance claim-by-claim register. Two associated actions were recommended as part of this recommendation: - To establish a sub-group to consider the feasibility of a longer term claim by claim register by Q1 of 2018, and - To Report on the...

Written Answers — Department of Finance: Motor Insurance Regulation (22 May 2018)

Paschal Donohoe: Recommendation 21 of the Cost of Insurance Working Group Report calls for the Implementation of the Review of the Framework for Motor Insurance Compensation in Ireland. The Deputy will be aware that the Fifth Progress Update, published earlier this month, provided an update on the implementation of this Recommendation stating that the Department of Finance is continuing to work with the...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (22 May 2018)

Paschal Donohoe: I am advised by Revenue that charitable organisations can claim a repayment of VRT and VAT paid on specially constructed or adapted vehicles under the Drivers/Passengers with Disabilities scheme. The scheme is provided for by the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, (S.I. No 353 of 1994, as amended). The adapted vehicles must be used to transport a person...

Written Answers — Department of Finance: Central Bank of Ireland Supervision (22 May 2018)

Paschal Donohoe: The Central Bank of Ireland continues to supervise banks as part of its ongoing supervisory engagements on credit risk matters which includes their compliance with the Code of Practice on Lending to Related Parties 2013 (available here: ). In order to guard against abuses in lending to related parties and to address possible conflicts of interest, the Central Bank requires that such...

Written Answers — Department of Finance: Tax Credits (22 May 2018)

Paschal Donohoe: I am advised by Revenue that the numbers of companies availing of the research and development (R&D) tax credit in the years 2015 and 2016, by range of the value of credit used, is set out in Table 1. Table 1 - No. of companies availing of R&D tax credit by range of credit used (euro) €1 – €50,000 €50,001-€100,000 €100,001 - ...

Written Answers — Department of Finance: VAT Yield (22 May 2018)

Paschal Donohoe: Section 56 of the Value-Added Tax Consolidation Act 2010 provides for the zero-rating of supplies of qualifying goods and services, of intra-Community acquisitions and of imports from outside the European Union by certain accountable persons.  Accountable persons who qualify are those with a turnover from zero-rated intra-Community supplies of goods, exports of goods outside the European...

Written Answers — Department of Finance: Tax Yield (22 May 2018)

Paschal Donohoe: I assume the Deputy is referring to retirement relief from Capital Gains Tax on the sale or transfer of assets used in a business or farm. I am informed by the Revenue Commissioners that it is not possible to accurately estimate the potential Exchequer cost from changing the age limits and relief thresholds in respect of retirement relief as it would depend on future transfers of assets...

Written Answers — Department of Finance: Financial Services Sector (22 May 2018)

Paschal Donohoe: In 2015 the Government launched "A Strategy for Ireland's International Financial Services Sector 2015-2020"(IFS2020). The Strategy was a whole of government approach to the continued development of our international financial services sector and was developed to address the increasingly competitive and ever changing nature of international financial services. IFS2020 is currently led by...