Results 1,941-1,960 of 33,923 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Mortgage Interest Rates (4 Mar 2025)

Paschal Donohoe: The Government recognises the difficulties that the increase in interest rates in recent years has caused for some mortgage borrowers. From a regulatory perspective the Central Bank has put in place a range of measures in order to protect consumers. This framework seeks to ensure that regulated entities are transparent and fair in all their dealings with borrowers and that borrowers are...

Written Answers — Department of Finance: Credit Unions (4 Mar 2025)

Paschal Donohoe: Data provided by the Central Bank, based on extracts from unaudited information reported by credit unions, outlines the following positions as at 31 December 2023 and 31 December 2024 respectively: 2023 - The amount outstanding in house lending was €550.1m with an average loan size of €110,980. 2024 - The amount outstanding in house lending was €784.3m with an average...

Written Answers — Department of Finance: Credit Unions (4 Mar 2025)

Paschal Donohoe: There is limited consolidated data available on the credit union sector to provide an answer to this question. On a best efforts basis, the Irish League of Credit Unions (ILCU) estimate that there are approximately 3,000 staff employed in credit unions at present. It is estimated by ILCU that this number is unchanged, or has increased very slightly from December 2023.

Written Answers — Department of Finance: Credit Unions (4 Mar 2025)

Paschal Donohoe: The Central Credit Register (CCR) is established by the Central Bank of Ireland under the Credit Reporting Act 2013 (the Act). The Act provides a threshold of reporting to the CCR of €500. It also provides that Credit Information Providers (CIPs) must enquire on the CCR when considering a credit application for €2,000 or greater and may enquire when considering credit...

Written Answers — Department of Finance: Credit Unions (4 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 308 and 309 together. Data provided by the Central Bank, based on extracts from unaudited information reported by credit unions, outlines the following positions as at 31 December 2023 and 31 December 2024 respectively: 2023 – The amount outstanding in business lending was €166.79m with an average loan size of €22,173. 2024 –...

Written Answers — Department of Finance: Tax Code (4 Mar 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a tax on gifts and inheritances that is payable by the beneficiary of a gift or inheritance on the value of the property received. The relationship between the person providing the gift or inheritance (the disponer) and the person receiving it (the beneficiary) determines the tax-free threshold (Group threshold) below which CAT does not arise. Any prior...

Written Answers — Department of Finance: Financial Services (4 Mar 2025)

Paschal Donohoe: On 22 October 2024 ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’ was published. It was a wide-ranging review of the funds and asset management sector. The terms of reference included review of the taxation regimes for funds, life assurance policies and other related investment products. As part of this aspect of the review, proposals made...

Written Answers — Department of Finance: Insurance Coverage (4 Mar 2025)

Paschal Donohoe: As Minister for Finance, I have policy responsibility for the development of the legal framework governing financial services regulation, including for the insurance sector. In terms of the challenges associated with obtaining flood cover, please be aware that the provision of such cover is a commercial matter for insurance companies, based on an actuarial assessment of the risks they are...

Written Answers — Department of Finance: Tax Data (4 Mar 2025)

Paschal Donohoe: I am advised by Revenue that the estimated first and full year yields to the Exchequer from the introduction of two new income tax bands of 46% on earnings between €140,000 and €200,000 and 50% on earnings greater than €200,000 are €1,125 million and €1,420 million respectively. The estimated yields are calculated on a taxpayer unit basis, a taxpayer...

Written Answers — Department of Finance: Public Sector Staff (4 Mar 2025)

Paschal Donohoe: The Financial Services and Pensions Ombudsman (FSPO) is an independent and impartial statutory body that helps to resolve complaints from consumers, including small businesses and other organisations, about the conduct of regulated financial service providers and pension providers. The number of WTE Executive Officers working as Investigation Officers in the FSPO each year for 2023, 2024,...

Written Answers — Department of Finance: Credit Unions (4 Mar 2025)

Paschal Donohoe: It is important to note that there are no limits on personal lending which continues to comprise the vast majority of credit union lending (approximately 86% as at end December 2024). In January 2020, revised Central Bank Lending Regulations were put into effect on credit union house and business lending only. The Central Bank has recently completed an review and analysis of credit union...

Written Answers — Department of Finance: Illicit Trade (4 Mar 2025)

Paschal Donohoe: I am advised by Revenue that the MV Matthew, a Panamanian-registered bulk carrier, was detained in September 2023 as part of a joint operation between Revenue, An Garda Síochána and the Defence Forces during which 2.25 tonnes of cocaine was seized with an estimated value of more than €157m. The vessel was escorted to Marino Point in the Port of Cork and has remained berthed...

Written Answers — Department of Finance: Tax Code (4 Mar 2025)

Paschal Donohoe: An increase in the supply of new housing remains a priority aim of Government policy. The Help to Buy (HTB) incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. It also has as a key aim of the encouragement of additional supply of new houses by supporting demand. The incentive gives a refund of Income Tax and Deposit...

Written Answers — Department of Finance: Departmental Data (4 Mar 2025)

Paschal Donohoe: I propose to take Questions Nos. 319, 320 and 321 together. Section 114 of the Taxes Consolidation Act (“TCA”) 1997 provides for a tax deduction in respect of expenses incurred wholly, exclusively and necessarily by an individual in the performance of the duties of his or her employment. I am informed by Revenue that the flat rate expense (“FRE”) regime is...

Written Answers — Department of Finance: Revenue Commissioners (27 Feb 2025)

Paschal Donohoe: I am advised by Revenue that while it previously provided a traditional over-the-counter service in a number of its offices, the changing demands of taxpayers and the need to provide an efficient and cost-effective service has resulted in service channels evolving. I can confirm that the Sligo Office has been closed for a number of years and Revenue do not currently have plans to reopen it. ...

Written Answers — Department of Finance: Departmental Schemes (27 Feb 2025)

Paschal Donohoe: On 28 June 2023, the European Commission put forward a proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the establishment of the digital euro. Work on the draft regulation commenced under the Spanish Council Presidency and is following the normal legislative process through the Council Working Group and the European Parliament. The legislation is still at the first...

Written Answers — Department of Finance: Revenue Commissioners (27 Feb 2025)

Paschal Donohoe: I am advised by Revenue that where a change is made to a taxpayer’s record which may result in a significant tax deduction, the taxpayer will be placed on a Week One/Month One basis. This ensures that any liability arising on an increase in income will only be collected for the current pay period without reference to the income earned in the year-to-date. This practice mitigates any...

Written Answers — Department of Finance: Financial Services (27 Feb 2025)

Paschal Donohoe: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme or DDS is no longer fit-for-purpose and believe it should be replaced with a needs-based, grant-led approach for necessary vehicle adaptations that could serve to improve the functional mobility of the individual. However, this is very much a matter for Government as...

Written Answers — Department of Finance: Financial Services (27 Feb 2025)

Paschal Donohoe: In the first instance, the interaction between the Widow's, Widower's or Surviving Civil Partner's pension and Illness Benefit is a matter for the Minister for Social Protection rather than the Minister for Finance. It is a general principle of taxation that all income, from whatever source, is income for tax purposes and this includes amounts paid to an individual by the Department of...

Written Answers — Department of Finance: Financial Services (27 Feb 2025)

Paschal Donohoe: Price differentials between fuels from different jurisdictions entering the State, arise for several reasons including differential tax rates. Other factors that affect coal prices include global market dynamics, costs of labour, exchange rates, as well as wholesale and retail pricing policy practices which may include additional charges to cover transport and distribution costs. It is...