Results 181-200 of 1,718 for long speaker:Paschal Donohoe

Written Answers — Department of Finance: Departmental Data (14 Jul 2022)

Paschal Donohoe: As the Deputy is aware, loss relief for corporation tax is a long-standing feature of the Irish corporate tax system and a standard feature of corporation tax systems in OECD countries to recognise the fact that a business cycle runs over several years. Loss relief works by allowing a deduction for losses incurred in one accounting period against profits earned in another period. I...

Committee on Budgetary Oversight: Summer Economic Statement 2022: Discussion (14 Jul 2022)

Paschal Donohoe: ...sector. We employed the full range of the resources we had carefully built up to prevent a deep and disastrous recession. This approach worked. At an enormous cost, we protected our economy from long-term damage and set the stage for a robust and broad-based economic recovery, particularly with regard to employment, when the pandemic had been brought under control. Today, there are...

Written Answers — Department of Finance: Vacant Properties (13 Jul 2022)

Paschal Donohoe: ...few weeks after Census night. It should be noted that this is a point in time measure of vacancy relating to the weeks either side of Census Night. The Census measure is not intended to be a measure of long term vacancy or that these properties are available for re-use. Each model is valid for its primary purpose, and it is not unexpected that the figures from the Census and the LPT...

Written Answers — Department of Finance: Tax Data (13 Jul 2022)

Paschal Donohoe: ...been built on certainty and predictability, and the 12.5% corporation tax rate on trading income has been a cornerstone of that regime for almost 20 years. This stability has enabled companies to plan long-term investments in Ireland, generating employment and increasing economic activity. The Deputy will be aware that Ireland signed up to the OECD Two Pillar agreement in October...

Written Answers — Department of Finance: Tax Reliefs (13 Jul 2022)

Paschal Donohoe: ...mechanisms for resolving defects and, to consider financing options in line with the Programme for Government commitment to identify options for those impacted by defects to access low-cost, long-term finance. The final report of the Working Group is due shortly, and I will consider any recommendations that might envisage tax expenditures in the light of my Department's Tax Expenditure...

Written Answers — Department of Finance: Tax Code (12 Jul 2022)

Paschal Donohoe: ...property is for sale, between lettings, undergoing refurbishment, where the property is subject to a probate application or other legal proceedings, holiday homes, or in cases where the owner is in long-term care. The Revenue analysis provides a basis for my Department to assess the merits and impact of introducing a Vacant Property Tax, and how best such a tax might be designed. This...

Written Answers — Department of Finance: Tax Code (12 Jul 2022)

Paschal Donohoe: I propose to take Questions Nos. 312 and 313 together. As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. However, the Deputy should note that section 7 of Annex III of the VAT Directive provides that the reduced rate of VAT may be applied by...

Written Answers — Department of Finance: Tax Code (12 Jul 2022)

Paschal Donohoe: I propose to take Questions Nos. 325 and 326 together. As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. It is possible for Ireland to apply the 9% reduced VAT rate to the supply and construction of housing, as part of a social policy and...

Written Answers — Department of Finance: Tax Code (12 Jul 2022)

Paschal Donohoe: ...agreement represents a fair compromise reflecting the competing interests of the many countries involved in the negotiations, large and small, developed and developing. It will ultimately bring long-term stability and certainty to the international tax framework, based on a shared understanding of where value is created in digital business models. This is a global issue, which requires...

Written Answers — Department of Finance: Tax Code (7 Jul 2022)

Paschal Donohoe: ...Care (Placement of Children in Foster Care) Regulations 1995, or the Child Care (Placement of Children with Relatives) Regulations 1995. Therefore, the current position is that certain children in either informal long-term foster care arrangements or formal foster care arrangements can avail of the Group A tax-free threshold on inheritances from a foster parent. Where a foster child...

Written Answers — Department of Finance: Departmental Data (6 Jul 2022)

Paschal Donohoe: ..., together with smaller holdings in other suitable asset classes, including gold. The Bank’s investment assets contribute to maintaining its financial independence in respect of operating costs, alongside other income streams such as the regulatory levy and income derived from monetary policy implementation. Over the past several years, the Central Bank has made a number of changes...

Written Answers — Department of Finance: Tax Code (5 Jul 2022)

Paschal Donohoe: ...used to assess the merits and impact of introducing a Vacant Property Tax.  In considering the case for such a tax, it is important to have a sound understanding of the quantity, locations and characteristics of long-term vacant properties. It is also essential to identify the reasons for vacancy, and whether this is long or short-term in nature. There may be genuine and...

Written Answers — Department of Finance: Tax Credits (5 Jul 2022)

Paschal Donohoe: ...mechanisms for resolving defects and, to consider financing options in line with the Programme for Government commitment to identify options for those impacted by defects to access low-cost, long-term finance. Separately, my Department's Tax Expenditure Guidelines are clear that a tax-based intervention should only be considered where it would be more efficient than a direct...

Written Answers — Department of Finance: EU Directives (5 Jul 2022)

Paschal Donohoe: ...leaves no alternative. However, notwithstanding these challenges, Ireland remains supportive of the two-pillar solution for the taxation of the digital economy reached globally at the OECD, an agreement to which we signed up along with over 130 other countries in October 2021.  The decision to join the global agreement was not taken lightly, and I firmly believe this agreement brings...

Written Answers — Department of Finance: Tax Code (30 Jun 2022)

Paschal Donohoe: ...for Ireland to apply a reduced rate of VAT to this service. The Deputy may be interested to know that by way of special derogation from the general rule, Ireland is permitted to continue its long-standing practice of applying a reduced rate, currently 13.5%, to the supply of services by a veterinary surgeon in the course of their profession, but there are strict restrictions on this...

Written Answers — Department of Finance: Tax Code (29 Jun 2022)

Paschal Donohoe: Ireland is very supportive of the two-pillar solution for the taxation of the digital economy reached globally at the OECD, an agreement to which we signed up along with over 130 other countries in October 2021. I believe that this agreement represents a fair compromise reflecting the competing interests of the many countries involved in the negotiations, large and small, developed and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Discussion (29 Jun 2022)

Paschal Donohoe: I thank the Chairman for his long-standing interest in this matter. As he has acknowledged, like the rest of its EU partners, Ireland adheres to the one China policy. As a result, we do not have diplomatic relations with Taiwan. However, this does not preclude the development of economic trade relations. Some of my EU colleagues have negotiated a DTA with Taiwan. At present, my...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Double Taxation Agreements: Discussion (29 Jun 2022)

Paschal Donohoe: ...Bank has dealt with this issue. Second, the strong view I convey to the committee is that if we separate consumer protection from the financial regulator, then we will undermine consumer protection in the long run, because the most effective way of dealing with consumer protection is by having it done through the financial regulator for the banking sector. Third, Garda investigations are...

Emergency Budget: Motion (Resumed) [Private Members] (28 Jun 2022)

Paschal Donohoe: ...that given the challenges our economy and State could face in the time ahead, it may be prudent to deploy a portion of the receipts we could gain in the future from corporate tax and other forms of tax collection towards long-term investment activities or other forms of savings. IFAC said that the risks around the path for the public finances are unusually wide, and that the space for...

Written Answers — Department of Finance: International Agreements (28 Jun 2022)

Paschal Donohoe: ...give careful consideration to the decision reached. My Department will continue to liaise with the Department of Foreign Affairs to ensure that the outcome adopted is consistent with Ireland’s long-held position that Western Sahara is a non-self-governing territory and that we support the United Nations Security Council Resolutions, which support the right to self-determination of...