Results 741-760 of 34,380 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Tax Yield (17 Sep 2025)

Paschal Donohoe: The 2026 excise duty forecast published in the Annual Progress Report incorporates a carbon tax rate of €71 per tonne in 2026. This figure is calculated on a technical basis and is subject to revision: my Department will update its full set of fiscal projections as part of Budget 2026.

Written Answers — Department of Finance: Tax Reliefs (17 Sep 2025)

Paschal Donohoe: I propose to take Questions Nos. 320 and 321 together. Section 272 of the Taxes Consolidation Act 1997 provides an industrial building writing-down allowance for a chargeable period where qualifying capital expenditure was incurred on the construction and refurbishment of an industrial building or structure. In general, industrial buildings allowances are available at a rate of 4% annually...

Written Answers — Department of Finance: Tax Reliefs (17 Sep 2025)

Paschal Donohoe: The following specific measures are provided for in the Taxes Consolidation Act 1997 and are exclusive to, and can currently be claimed by, landlords:General Deductible Expenses for Rental Income (Section 97 TCA)Pre-letting expenses relief (Section 97A TCA)Mortgage Interest Relief for landlords (Section 473C TCA)Rental Deduction for Leasing of farmland (Section 664 TCA)In relation to...

Written Answers — Department of Finance: EU Data (17 Sep 2025)

Paschal Donohoe: I propose to take Questions Nos. 323 and 324 together. The European Commission launched an anti-dumping investigation in May 2025 into Chinese imports of new pneumatic tyres for passenger cars and light lorries after a complaint was received from the Coalition Against Unfair Tyre Imports on behalf of EU tyre producers. The investigation aims to determine if the Chinese imported tyres are...

Written Answers — Department of Finance: Tax Reliefs (17 Sep 2025)

Paschal Donohoe: Further to my reply to a question from the Deputy on 8 September last, and as the Deputy will be aware, the Programme for Government, Securing Ireland’s Future, includes a commitment to “consider measures, in conjunction with the Department of Finance, to encourage gym membership and active participation in sport and exercise.” Officials in my Department considered...

Written Answers — Department of Finance: Primary Medical Certificates (17 Sep 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 my...

Written Answers — Department of Finance: Electric Vehicles (17 Sep 2025)

Paschal Donohoe: From 1 January 2023, new rates of benefit-in-kind (BIK) were applied to the provision of an employer provided car, which take into account the CO2 emissions of the car. The amount taxable as a BIK remains determined by the car's original market value (OMV) and the annual business kilometres driven, with new CO2 emissions bands used to determine whether a standard, discounted, or surcharged...

Written Answers — Department of Finance: Tax Data (17 Sep 2025)

Paschal Donohoe: As I outlined in my response to Parliamentary Question No. 559 of 8 September 2025, the purpose of the high-income individuals’ restriction (HIER) measure is to limit certain specified reliefs so that the relevant cohort of high income taxpayers is paying a minimum effective rate of tax. The continued reduction in the numbers of those subject to the restriction is due to the...

Written Answers — Department of Finance: Statutory Instruments (17 Sep 2025)

Paschal Donohoe: I can confirm for the Deputy that to date in 2025 I have signed the following 53 Statutory Instruments: SI Number of 2025 Title 16 European Union (Restrictive Measures against Cyber-attacks threatening the Union or its Member States) Regulations 2025 17 European Union (Restrictive Measures concerning Libya) Regulations...

Written Answers — Department of Finance: Tax Exemptions (17 Sep 2025)

Paschal Donohoe: Section 216D of the Taxes Consolidation Act 1997 provides that profits of up to €400 per year arising to an individual from the generation of electricity from renewable, sustainable or alternative sources of energy at the individual’s sole or main residence for the individual’s own consumption (referred to as the micro-generation of electricity) is exempt from Income Tax,...

Written Answers — Department of Finance: Departmental Policies (17 Sep 2025)

Paschal Donohoe: The implementation of the Automatic Enrolment Retirement Savings System, known as My Future Fund, is a key commitment in the Programme for Government-Securing Ireland’s Future and is being led by the Department of Social Protection. A primary objective of auto enrolment is to address the relatively low proportion of private sector employees in Ireland with supplementary pension cover...

Written Answers — Department of Finance: Tax Data (17 Sep 2025)

Paschal Donohoe: I am advised by Revenue that domestic electricity is subject to the second reduced rate of Value-Added Tax (VAT) of 9%, which will remain in place until 31 October 2025. Thereafter, the rate is scheduled to revert to 13.5%. VAT currently accounts for approximately 8.3% of the average VAT-inclusive bill. It should be noted that electricity customers are on a range of tariffs and have...

Written Answers — Department of Finance: Energy Prices (17 Sep 2025)

Paschal Donohoe: According to Eurostat, in the second half of 2024 electricity prices for consumers in Ireland averaged around €0.37 per kilowatt hour (kWh) compared to a euro area average of €0.30. Electricity costs make up almost 4 per cent of the basket of goods and services included in the Harmonised Index of Consumer Prices in Ireland. To end-July 2025, the annual rate of inflation for...

Written Answers — Department of Finance: Compulsory Purchase Orders (17 Sep 2025)

Paschal Donohoe: The acquisition of land by way of compulsory purchase order (CPO) is the disposal of an asset for the purposes of Capital Gains Tax (CGT). Any chargeable gain arising on such a disposal is subject to CGT at a rate of 33%. The first €1,270 of total chargeable gains in respect of an individual in any year of assessment is exempt from CGT. It is the amount of the chargeable gain (if...

Written Answers — Department of Finance: Tax Code (17 Sep 2025)

Paschal Donohoe: Legislation providing for the introduction of a new national excise duty to e-cigarettes, known as E-Liquid Products Tax (EPT), was included in Chapter 1 of Part 2 of Finance Act 2024. Essentially, e-liquid products are liquids used in e-cigarettes, including refill cartridges for refillable devices. EPT is subject to commencement by Ministerial Order to enable Revenue to make all necessary...

Written Answers — Department of Finance: Tax Reliefs (17 Sep 2025)

Paschal Donohoe: A gift of land by an individual to a sporting, artistic, cultural or community organisation for the development of facilities may give rise to Capital Gains Tax, Stamp Duty and Capital Acquisitions Tax considerations for the parties involved – details of such considerations, and in particular tax reliefs which may be available in such circumstances, are set out below. Capital...

Written Answers — Department of Finance: Departmental Reports (17 Sep 2025)

Paschal Donohoe: The ‘Future Forty: Ireland’s Demographic Outlook’ paper, published by my Department on 10 September, considers recent trends regarding migration and fertility at global, regional and national levels, and maps out the channels through which migration take place in Ireland. The report demonstrates how alternative scenarios for future net migration and fertility rates can...

Written Answers — Department of Finance: Tax Yield (17 Sep 2025)

Paschal Donohoe: I am advised by Revenue that the total revenue generated from Local Property Tax (LPT) and Vacant Homes Tax (VHT) is available, by year, on the Revenue website at : www.revenue.ie/en/corporate/information-about-revenue/statis tics/property-taxes/yearly-stats/2025/index.aspx The projected revenue for these taxes, for 2026, is not yet available. LPT and VHT returns are due to be filed in...

Written Answers — Department of Finance: State Bodies (17 Sep 2025)

Paschal Donohoe: The NTMA has advised me that ISIF committed in 2018 and 2020 to invest up to €25m to the Irish Whiskey Growth Fund. As per the 2024 NTMA Annual report, as at the end of December 2024, ISIF has a commitment of €22m to the Irish Whiskey Growth Fund. The Fund provides capital to Irish whiskey distilleries by way of stock-finance or direct stock-purchasing, supporting the growth of...

Written Answers — Department of Finance: Departmental Reports (17 Sep 2025)

Paschal Donohoe: An overreliance on highly concentrated corporation tax receipts has long been recognised as a key risk to our public finances. My Department has published a significant volume of analysis on our exposure to corporation tax risks: for example, Table 3 in the Economic and Fiscal Outlook published as part of Budget 2025 outlined the severe consequences for the fiscal position in downside...