Results 19,601-19,620 of 32,643 for speaker:Paschal Donohoe

Written Answers — Department of Finance: State Savings Schemes (17 Apr 2018)

Paschal Donohoe: The National Treasury Management Agency (NTMA) has informed me that all State Savings Fixed Term Products are purchased subject to Terms and Conditions.  The Terms and Conditions do not allow assignment or transfer of products, or rights under the Agreement to purchase a product.  The product may be redeemed before maturity without penalty, with the interest earned to that time, and...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (17 Apr 2018)

Paschal Donohoe: I am advised by Revenue that the delay in processing the person’s Disabled Passenger Scheme application arose because she inadvertently provided incorrect information when registering for access to the required online system. The issues were corrected by the person on 28 March 2018 and the necessary access information to allow her complete the application issued to her. Revenue has...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (17 Apr 2018)

Paschal Donohoe: I am advised by Revenue that an application for exemption from Vehicle Registration Tax (VRT) under the Drivers/Passengers with Disabilities Scheme was received on behalf of the person in question on 25 January 2018. The application was approved and a certificate allowing exemption from VRT issued on 7 February 2018. The exemption certificate was subsequently used to register the...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (17 Apr 2018)

Paschal Donohoe: I have been informed by the Central Bank of Ireland that the Code of Conduct on Mortgage Arrears 2013 (‘CCMA’) contains specific protections in respect of tracker mortgages.  However, the CCMA only applies to a mortgage loan of a borrower which is secured by his/her primary residence.  For the purposes of the CCMA, ‘primary residence’ means a property...

Written Answers — Department of Finance: Vehicle Registration (17 Apr 2018)

Paschal Donohoe: I propose to take Questions Nos. 246 and 247 together. I am informed by Revenue that VRT is levied under the provisions of the Finance Act 1992, Part II, Chapter IV.  There are a number of exemptions and reliefs under this legislation including a zero rating on vehicles such as ambulances and fire engines, and, under certain circumstances, relief from VRT and VAT under the provisions of...

Written Answers — Department of Finance: Tax Forms (17 Apr 2018)

Paschal Donohoe: The legislation governing entitlement to the incapacitated child tax credit is contained in section 465 of the Taxes Consolidation Act 1997, as amended.  Incapacitated Child Tax Credit can be claimed by filling in the form ICC1. The wording of this form was updated by the Revenue Commissioners in January 2018, following an internal review. The precise nature of the issue which the...

Written Answers — Department of Finance: Insurance Coverage (17 Apr 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 has the power to direct insurance companies on the pricing or provision of insurance products.  Indeed, the EU framework for insurance expressly prohibits Member States from adopting rules which require insurance companies to...

Written Answers — Department of Finance: Stamp Duty (17 Apr 2018)

Paschal Donohoe: I assume the Deputy is referring to the measure introduced in Finance Act 2017 to allow a farmer to claim relief from stamp duty where he or she both sells and purchases land for the purposes of consolidating an existing farm holding.  This measure has not yet been commenced as it is still being considered by my Department in the context of EU State Aid requirements.  Subject to...

Written Answers — Department of Finance: Financial Services Regulation (17 Apr 2018)

Paschal Donohoe: There is no agreement on the precise meaning of the term “vulture funds” and it has come to have pejorative connotations. I presume that the Deputy intends referring to private equity funds. As the Deputy may be aware, the Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2018 was introduced by Deputy Michael McGrath on 21 February 2018. The Bill...

Written Answers — Department of Finance: Community Banking (17 Apr 2018)

Paschal Donohoe: My Department, along with the Department of Rural and Community Development, is assigned the responsibility of fulfilling the Programme for a Partnership Government commitment to "thoroughly investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions". Local public banking is where the state, or another public body, has...

Written Answers — Department of Finance: Financial Services Sector (17 Apr 2018)

Paschal Donohoe: As the Deputy will be aware the Competition and Consumer Protection Commission (CCPC) undertook the first comprehensive study of the Personal Contract Plans (PCP) market in the State. As part of its study the CCPC issued detailed questionnaires to all the financial institutions that underwrite PCP finance in the State. This allowed the CCPC to compile, for the first time, primary...

Written Answers — Department of Finance: Mortgage Data (17 Apr 2018)

Paschal Donohoe: The Central Bank of Ireland release quarterly statistics on Residential Mortgages and Repossessions.  The most recent mortgage arrears statistics, published on 22 March 2018 are available at . The Central Bank provides data on arrears in the following categories: - in arrears up to 90 days, - in arrears 91 to 180 days, - in arrears 181 to 360 days, - in arrears 361 to...

Written Answers — Department of Finance: Financial Services Regulation (17 Apr 2018)

Paschal Donohoe: As the Deputy is aware, in recent years, the European Commission has focused on Consumer Protection with regard to the provision of financial services. This began with the updating of the rules for the sale of financial instruments under Markets in Financial Instruments Directive (MiFID II) and is also a focus of the Insurance Distribution Directive (IDD). The aim of European...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (17 Apr 2018)

Paschal Donohoe: I am aware of the current position regarding the delays in issuing Employment and Investment Incentive (EII) certificates to investors. Revenue has informed me that the increased complexity of the scheme, arising from changes in Finance Act 2015 and 2017, means that each application takes longer to process than in previous years.  The increased complexity also results in a large...

Written Answers — Department of Finance: Tax Reliefs Availability (17 Apr 2018)

Paschal Donohoe: I am informed by Revenue that they operate a scheme known as ‘country money’ in relation to employees in the construction sector. This arrangement is designed to reduce the administrative overhead for both employers and employees in the reimbursement of expenses. Section 114 of the Taxes Consolidation Act 1997 provides that where an employee “is necessarily obliged to...

Written Answers — Department of Finance: Stamp Duty (17 Apr 2018)

Paschal Donohoe: Pre-Budget 2018 estimates of potential Stamp Duty yield were based on a projection forward of receipts in the preceding years. This projection included factoring out a series of significant transactions in prior years that were deemed to be once off and not likely to reoccur. Estimates are therefore provided on a prudent basis but on the assumption of a continuation in the level of core...

Written Answers — Department of Finance: Banking Sector (17 Apr 2018)

Paschal Donohoe: This information is not held by my Department but officials in the Department of Finance have received the following responses from the banks in relation to the Deputy's question: AIB: “In line with normal practice and for commercially sensitive reasons, AIB does not publicly disclose the details of contracts with individual external service providers. The bank manages its...

Written Answers — Department of Finance: Banking Sector (17 Apr 2018)

Paschal Donohoe: As the Deputy is aware non-performing loans (NPLs) remain at an elevated level across the European banking system and addressing this issue is one of the key priorities for the Single Supervisory Mechanism (SSM). The reduction of NPLs is also being given high priority at EU level with the Commission announcing their "Action Plan to Tackle Non-Performing Loans in Europe" in July 2017. The...

Written Answers — Department of Finance: Banking Sector (17 Apr 2018)

Paschal Donohoe: Officials in the Department of Finance referred the Deputy’s question to PTSB and received the following response in this regard: “Permanent TSB has a requirement for legal/technical support and advice on an on-going basis across different parts of its business. It manages some of this requirement through its in-house capabilities, as well as engaging external legal and...

Written Answers — Department of Finance: Banking Sector (17 Apr 2018)

Paschal Donohoe: I have received the following response from AIB. "The Split Mortgage solution was built in response to the Keane report by all banks across the industry in 2012. It was delivered by the Mortgage Arrears Resolution Strategy (MARS) Programme with regular engagement between AIB and the CBI on the split mortgage design and delivery. The MARS programme engaged the direct support of both PwC and...