Results 481-500 of 34,411 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Emigrant Support Services (21 Oct 2025)

Paschal Donohoe: I wish to advise the Deputy that neither the Department of Finance, nor the bodies under the aegis, carry out direct work to facilitate the easier return to Ireland for emigrants, in line with the commitment under the Programme for Government.

Written Answers — Department of Finance: Departmental Inquiries (21 Oct 2025)

Paschal Donohoe: The EU VAT Directive, which Irish VAT must comply, generally holds that all economic activity is liable for VAT at the standard rate which must be set no lower than 15%. Ireland currently charges a standard rate of VAT of 23%. A member state may apply two reduced rates of no lower than 5% to goods and services which explicitly qualify for such treatment. Ireland currently has two reduced VAT...

Written Answers — Department of Finance: Departmental Data (21 Oct 2025)

Paschal Donohoe: I propose to take Questions Nos. 296 and 300 together. As the Deputy will be aware, local property tax (LPT) is charged on a valuation band basis. Property owners are required to value their property on the valuation date. When filing their LPT return, they are required to select which LPT valuation band their property falls under. For the upcoming valuation period, which will commence in...

Written Answers — Department of Finance: Tax Data (21 Oct 2025)

Paschal Donohoe: I announced in Budget 2026 that a 9% VAT rate would be applied from 1 July 2026 to the food and catering sector and and hairdressing sector. It is not proposed to extend the measure to these additional sectors at this time. The estimated full year cost of including businesses supplying accommodation and entertainment for 2026 is €188 million: €164 million for accommodation...

Written Answers — Department of Finance: Budget 2026 (21 Oct 2025)

Paschal Donohoe: The Government has committed to the delivery of over 300,000 homes by the end of 2030 as per the agreed upon Programme for Government. In line with this, the revised National Planning Framework outlines that increased density, compact growth, and greater social cohesion through the building of more apartments, especially in urban centers, as a key policy objective. Analysis from both the...

Written Answers — Department of Finance: Tax Data (21 Oct 2025)

Paschal Donohoe: I understand this question relates to a proposed amendment, in Finance Bill 2025, to the participation exemption set out in section 831B of the Taxes Consolidation Act 1997. Section 831B was introduced by Finance Act 2024 and provides a corporation tax exemption to a parent company that receives a qualifying dividend or other type of distribution from a subsidiary that is tax resident in...

Written Answers — Department of Finance: Departmental Inquiries (21 Oct 2025)

Paschal Donohoe: Mr Masato Kanda was elected as the President of the Asian Development Bank (ADB) in November 2024 and assumed office on 24 February 2025. Since his appointment I have not had the opportunity to speak with President Kanda.

Written Answers — Department of Finance: Budget 2026 (21 Oct 2025)

Paschal Donohoe: Chapter 3 of the Budget 2026 Expenditure Report includes the 2026 allocation for each Vote analysed per programme expenditure. The Report also includes an analysis of the 2026 administration cost per subhead. A link to Chapter 3 of the Expenditure Report is provided for reference. www.gov.ie/en/department-of-public-expenditure-infrastructur...

Written Answers — Department of Finance: Vacant Properties (21 Oct 2025)

Paschal Donohoe: I wish to advise the Deputy that my Department does not own any properties and is provided with accommodation by the Office of Public Works (OPW). The Irish Bank Resolution Corporation Special Liquidation possesses one vacant three bed apartment (118 sqm) in Dublin 4. This is intended to be sold shortly. None of the other bodies under the aegis of my Department own property that is...

Written Answers — Department of Finance: Insurance Industry (21 Oct 2025)

Paschal Donohoe: As the Deputy is aware, the Programme for Government- Securing Ireland’s Future commits to a comprehensive series of actions aimed at improving affordability, availability, and transparency across the insurance sector. One of the first steps to deliver on these commitments is the new Action Plan for Insurance Reform, which was published on 24 July. As part of the Plan’s...

Written Answers — Department of Finance: Tax Data (21 Oct 2025)

Paschal Donohoe: Ireland’s carbon tax regime is a carbon pricing mechanism directly linking taxation of fossil fuels to carbon dioxide (CO2) emissions: a price is set for a tonne of CO2 and this price is then applied to each fuel type according to the fuel type’s specific CO2 emissions. Carbon taxes are applied under three separate legislative frameworks - Mineral Oil Tax (MOT), Natural Gas...

Written Answers — Department of Finance: Departmental Data (21 Oct 2025)

Paschal Donohoe: In line with section 13 of Finance Act 2024, I can confirm that the first initial increase to the Standard Fund Threshold (SFT) will take place for the year of assessment 2026, with the SFT increasing from its current level of €2 million to €2.2million. I am informed by Revenue that they are unable provide a costing for changes to the SFT. Information on the numbers and...

Written Answers — Department of Finance: Central Bank of Ireland (21 Oct 2025)

Paschal Donohoe: Under the Central Bank of Ireland’s Consumer Protection Code, all financial services firms which are regulated must have a complaint handling procedure in place. Complaints are dealt with by the firms themselves in the first instance. While the number of complaints received by the Central Bank of Ireland in relation to high cost credit providers is not publicly available, I am...

Written Answers — Department of Finance: Tax Data (21 Oct 2025)

Paschal Donohoe: This Budgetary measure has an estimated cost of €250 million to the Exchequer in 2026 with an estimated cost of €16 million in 2025. The Deputy will recall that the November/December VAT period falls into the following year. These estimates are tentative and reflect a very prudent approach in relation to assumptions made. As data on actual sales of apartments is received...

Written Answers — Department of Finance: Departmental Data (21 Oct 2025)

Paschal Donohoe: I am advised by Revenue that, in general, the capital expenditure incurred on the purchase of a residential property is not allowable for the purposes of capital allowances. Previously, relief was available where a residential property came within the scope of the schemes collectively known as ‘Section 23 relief’. Section 23 relief was a tax relief that applied to rented...

Written Answers — Department of Finance: Rental Sector (21 Oct 2025)

Paschal Donohoe: I am advised by Revenue that capital allowances in the form of wear and tear allowances are available in respect of capital expenditure incurred on fixtures and fittings (for example, furniture, kitchen appliances, etc) provided by a lessor for the purposes of furnishing rented residential property. These wear and tear allowances are allowed at a rate of 12.5% of the capital expenditure on...

Written Answers — Department of Finance: Tax Data (21 Oct 2025)

Paschal Donohoe: In Budget 2026 I announced an enhanced corporation tax deduction for certain costs incurred on the construction of apartment blocks, and for the conversion of non-residential buildings into apartment blocks, to improve the viability of such developments. The measure will be legislated for in the Finance Bill and will be available for projects for which a first Commencement Notice is submitted...

Written Answers — Department of Finance: Consumer Protection (21 Oct 2025)

Paschal Donohoe: As the Deputy will be aware, neither I as Minister for Finance nor the Central Bank of Ireland can intervene in the provision or pricing of insurance products. These are commercial decisions taken by insurers in line with EU law, specifically the Solvency II Directive, which sets out the framework for insurance within the Single Market. ‘Whole-of-life’ insurance policy...

Written Answers — Department of Finance: Legislative Process (21 Oct 2025)

Paschal Donohoe: Under general rules for capital allowances and balancing allowances, that is the rules as they apply to assets other than specified intangible assets, such as plant and machinery, capital allowances and balancing allowances are treated as trading expenses in computing a company’s trading profits assessable to corporation tax. This means such capital allowances and balancing allowances...

Written Answers — Department of Finance: Local Authorities (21 Oct 2025)

Paschal Donohoe: I propose to take Questions Nos. 318 and 320 together. The Living City Initiative (LCI) is a targeted measure which is aimed at very specific areas in urgent need of regeneration, it is provided for under sections 372AAA to 372AAD of the Taxes Consolidation Act 1997. It currently offers income or corporation tax relief for qualifying expenditure incurred in the refurbishment and conversion...