Results 1-20 of 19,809 for speaker:Paschal Donohoe in 'Written Answers'

Written Answers — Department of Finance: Financial Services (16 Jul 2025)

Paschal Donohoe: On the 22nd of October 2024, following Government approval, my predecessor published the ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’ a wide-ranging review of the funds and asset management sector. The Review fulfilled a recommendation of the Commission on Taxation and Welfare 2022 report mentioned by the Deputy, which called for an...

Written Answers — Department of Finance: Enterprise Policy (16 Jul 2025)

Paschal Donohoe: As the Deputy will be aware, it is a long-standing practice that the Minister for Finance does not comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. In the Programme for Government 2025 it was pledged to support SMEs, particularly those in the retail and hospitality sectors, by examining changes to VAT, PRSI and other measures. Any...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: Capital Gains Tax (CGT) is chargeable on a gain arising on the disposal of an asset, including a residential property, at the rate of 33%. The first €1,270 of chargeable gains of an individual in any year are exempt from CGT. Section 604 of the Taxes Consolidation Act, 1997 provides relief from CGT on the disposal of an individual’s principal private residence (PPR), being a...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: A range of tax-based measures are in place to support or encourage the bringing of vacant residential properties back into use and to increase housing supply. These include the Living City Initiative, pre-letting expenses for vacant properties, the Vacant Homes Tax and the Residential Zoned Land Tax. Additionally, the Department of Housing, Local Government and Heritage provides funding...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: The Programme for Government 2025 commits to introducing a new, all-of-Government national housing plan to follow Housing for All. Any proposals in respect of new or existing measures will be considered in this context. Furthermore, it is a long-standing practice of the Minister for Finance not to comment on any tax matters that might be the subject of Budget decisions. The Vacant Homes...

Written Answers — Department of Finance: Tax Code (16 Jul 2025)

Paschal Donohoe: As the Deputy may be aware, under the EU VAT Directive, which Irish VAT law must comply, the VAT rate applied to goods and services must be the standard rate unless they are listed under Annex III of the Directive which allows for a reduced rate of VAT. Construction products and materials are not included in Annex III of the Directive so no reduced rate can be applied to them. Ireland...

Written Answers — Department of Finance: Childcare Services (10 Jul 2025)

Paschal Donohoe: The Government acknowledges the continuing cost pressures on parents, particularly those with young children. In recognition of these cost pressures, a number of support measures are in place to ease the burden on working parents. These include various tax-exempted child-care related supports provided by the Minister for Children, Equality, Disability, Integration and Youth and measures such...

Written Answers — Department of Finance: Tax Code (10 Jul 2025)

Paschal Donohoe: Capital Acquisitions Tax (CAT) is a beneficiary-based tax on gifts and inheritances that is payable on the value of the property received. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does...

Written Answers — Department of Finance: Departmental Expenditure (10 Jul 2025)

Paschal Donohoe: I wish to inform the Deputy that details of legal studies programmes undertaken by my staff are in the attached document. The document includes information on the year, the course title, the course provider, the course fees, grade of employee supported, nature of programme delivery and number of assigned study days, if applicable.

Written Answers — Department of Finance: Tax Reliefs (10 Jul 2025)

Paschal Donohoe: Section 118(5A) of the Taxes Consolidation Act 1997 (TCA) provides an exemption from benefit-in-kind (BIK), subject to certain conditionality, where an employer purchases a travel pass for one of their employees or directors. This is commonly known as the TaxSaver scheme. Under section 118B TCA, an employer and employee may also enter into a Revenue-approved salary sacrifice arrangement...

Written Answers — Department of Finance: Artificial Intelligence (10 Jul 2025)

Paschal Donohoe: I wish to advise the Deputy that my department follows the Guidelines for the Responsible Use of Artificial Intelligence in the Public Service, published in May 2025. In doing so, my department recognises the opportunities AI presents to help improve the delivery of public services to our citizens. I can also confirm that my department has undertaken minor testing of an AI powered...

Written Answers — Department of Finance: Tax Code (10 Jul 2025)

Paschal Donohoe: Under the EU VAT Directive, with which Irish VAT legislation must comply, it is not possible to apply a VAT zero rate to the construction materials or to the construction of new buildings. The UK had a historical derogation to allow for a zero rate to apply to specific building projects (e.g. new builds meeting specific criteria such as being designed as a dwelling and which will only be used...

Written Answers — Department of Finance: Tax Code (10 Jul 2025)

Paschal Donohoe: The Finance (Local Property Tax and Other Provisions) (Amendment) Act 2025 provides for a number of changes to the structure of Local Property Tax (LPT) in advance of the revaluation of properties which will take place on 1 November 2025. Data from the Central Statistics Office show that property prices increased by 24 per cent nationally between November 2021 and April 2025. If no...

Written Answers — Department of Finance: Central Bank of Ireland (9 Jul 2025)

Paschal Donohoe: At the outset, I would point out that the Central Bank of Ireland carries out its functions in accordance with all applicable laws. While central banks have many powers and functions, their roles are confined to their mandate. Under the EU's legal framework, the European Commission is responsible for trade policy and trade relations with third countries. The Central Bank of Ireland...

Written Answers — Department of Finance: Tax Code (9 Jul 2025)

Paschal Donohoe: In making any decision in relation to VAT rates or other taxation measures, the Government must balance the costs of the measures in question against their impact and the overall budgetary framework. The Government is very conscious of the pressures being faced by businesses in the hospitality sector which is why it provided for a 9% VAT rate from 1 November 2020 to 31 August 2023 at a...

Written Answers — Department of Finance: Tax Reliefs (9 Jul 2025)

Paschal Donohoe: As the Deputy is aware the operation of the automatic enrolment retirement savings scheme, known as auto-enrolment, is a matter for the Minister for Social Protection, and the legislative framework for auto-enrolment was introduced in the Automatic Enrolment Retirement Savings System Act 2024. However responsibility for taxation policy including for auto-enrolment lies with me as Minister for...

Written Answers — Department of Finance: Tax Credits (9 Jul 2025)

Paschal Donohoe: The “Home Carer” tax credit is only available to married couples or civil partners where one spouse/civil partner (i.e. the home carer) cares for one or more dependent persons. The married couple/civil partners must be jointly assessed for tax purposes and no credit is available where the married couple/civil partners are taxed under separate treatment as single persons. From 1...

Written Answers — Department of Finance: National Asset Management Agency (9 Jul 2025)

Paschal Donohoe: I wish to confirm to the Deputy that this question was raised with NAMA. I am advised by NAMA that the property in question has never been in their control and that they maintain no record of any transaction relating to it. Owing to the detail provided in relation to the last registered owner of the property, Irish Nationwide Building Society, this question was also raised with the...

Written Answers — Department of Finance: Revenue Commissioners (9 Jul 2025)

Paschal Donohoe: I am advised that Revenue is committed to targeting the illicit tobacco trade and implements a range of measures to identify and target the smuggling, supply or sale of illicit tobacco, and where possible, prosecuting those involved. Revenue keeps its operational requirements and arrangements regarding the deployment and use of detection technology and resources, including a suite of x-ray...

Written Answers — Department of Finance: Tax Code (9 Jul 2025)

Paschal Donohoe: Ireland's Capital Gains Tax (CGT) rate is 33%. It is paid on the chargeable capital gain made when a person disposes of an asset. The chargeable gain is usually the difference between the price paid for the asset and the price it is disposed of for. CGT is payable by the person making the disposal. The existence of a 33% rate of CGT can help maintain a balance between the rate of taxation...