Department of Finance | Business Post

Donohoe: ‘huge uncertainties around data’ for rental tax credit

Minister for Finance warns that new €500 tax credit was costed based on an estimated number of eligible renters and not specific data

Businesses to benefit from €1.25bn in energy supports

Under the terms of the new scheme businesses that can show their average unit price for gas and electricity has increased by more than 50 per cent in the last 12 months will be eligible

Investors shelled out almost €1bn on second-hand Irish homes in 2021

Institutional investors and real estate firms snapped up one in ten second-hand homes in this country, amounting to more than 4,500 properties

Finance official leaked confidential Siteserv sale details while at Davy

A list of bidders for Siteserv was disclosed by Des Carville – now a senior civil servant in the Department of Finance – to a corporate finance consultant, who passed on the information that would ultimately alert Denis O’Brien to the sale

Donohoe will be ‘guided by Revenue’ on sharp fall in Iref tax take

Minister for Finance has in recent years moved to clamp down on what he called the ‘aggressive behaviour to avoid tax’ by investors that use the Iref structure to house their assets

Corporate tax receipts expected to reach €20bn this year

New report says there is a ‘compelling case’ to treat up to €6bn in corporate tax receipts as ‘volatile’ and unreliable into the future to ensure sustainability of public finances

Reason for dramatic fall in taxes paid by Irefs ‘yet to be identified’

A review by the Revenue Commissioners into the sharp decline in taxes paid by Irish real estate funds will not be completed until late 2023

‘Forward funding’ model enabling funds to avoid higher taxes

Department of Finance officials have found that if institutional investors ‘forward fund’ residential developments, they can avoid stamp duty charges on residential blocks because the property never technically changes hands

Revenue opens review into decline in taxes paid by large property funds

Rate paid by large property investors has fallen from 17.9 per cent in 2020 to 5.9 per cent last year

Record tax receipts drive €5bn exchequer surplus

Tax revenue stands at €43.5bn after the first seven months of the year

Budget to include 6.5% spending increase to tackle cost of living

This year’s Budget will be brought forward by two weeks to September 27, the government announced as part of today’s Summer Economic Statement

State to sell further 5 per cent of its AIB shareholding

Overall size of the state’s shareholding will be reduced from 68.5 per cent to 63.5 per cent

Government shelves rescue fund for bailed-out insurers that could have led to costly levy

The state now plans to help shape a European proposal aimed at protecting policy holders in the event of an insurer going to the wall

Ian Guider: The state is staying silent as two banks prepare to shut up shop

The withdrawals of Ulster Bank and KBC Bank are close at hand, but the Department of Finance and the Central Bank are conspicuous by their silence on the seismic changes in the sector. Why?

ECB paves way for Central Bank database of bank accounts and owners in the state

Draft law proposes a Central Bank administered database of bank accounts and account holders to prevent terrorist financing and money laundering

Briefing notes for Donohoe on housing omitted crucial details

Records released under FOI reveal that Dept of Finance officials cherry-picked data relating to residential vacancy rates

Donohoe was told to say that trend of landlords sitting on empty units would ‘correct itself’

Opposition TD claims government is bowing to vested interests in defending the practice instead of countering it through punitive taxes

State has no record of how many Irish residents are paying levy aimed at tax exiles

Catherine Murphy, co-leader of the Social Democrats, said the low number of people registering to pay the tax is likely a result of the fact that it is a self-declared charge

Nama will find it ‘extremely challenging’ to deliver 2,000 homes by 2025: Donohoe

In response to a parliamentary question, the Minister for Finance claimed that commercial viability is the most important factor in the state body’s building plans

Majority of homes in Nama’s pipeline cannot be delivered before 2025

The agency has considerable amounts of land in areas affected most acutely by the shortage of affordable homes including Dublin, Cork, Meath and Wicklow