Results 1-20 of 14,791 for speaker:Michael McGrath in 'Written Answers'

Written Answers — Department of Finance: Gambling Sector (16 May 2024)

Michael McGrath: I propose to take Questions Nos. 148 to 157, inclusive, together. An operator of gaming machines must apply annually to the District Court for a certificate in respect of a gaming licence. This is required for each premises where it is intended to make gaming machines available for play. Where the District Court grants this certificate, the operator must then apply to Revenue for a Gaming...

Written Answers — Department of Finance: Universal Social Charge (16 May 2024)

Michael McGrath: I propose to take Questions Nos. 158 and 159 together. I am advised by Revenue of the estimated costs for the proposals outlined by the Deputy on a first and full year basis. They are shown in the below table. As a reduced rate of USC of 2% currently applies for those aged over 70 years with income of €60,000 or less and for those who hold a full medical card with income of...

Written Answers — Department of Finance: Tax Exemptions (16 May 2024)

Michael McGrath: As the Deputy will be aware, the age exemption applies for any year of assessment where an individual is aged 65 years or over and his or her total income does not exceed €18,000 per annum. Where an individual is a married person or civil partner and is jointly assessed to tax, the age exemption will apply where either individual is aged 65 or over and where the couple’s total...

Written Answers — Department of Finance: Insurance Industry (16 May 2024)

Michael McGrath: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. As the Deputy will appreciate, I am unable to comment on individual cases and media reports relating to same. As the Deputy will be aware, the duties of insurers are outlined in Section 16 of the Consumer Insurance Contracts Act 2019, which requires that an insurer shall...

Written Answers — Department of Finance: Insurance Industry (15 May 2024)

Michael McGrath: As the Deputy will appreciate, neither I, nor the Central Bank of Ireland, can direct the pricing or provision of insurance products. This position is reinforced by the EU Single Market framework for insurance (the Solvency II Directive). Notwithstanding this, reforming the insurance sector is a key policy objective for the Government. Through the comprehensive Action Plan for Insurance...

Written Answers — Department of Finance: Financial Services (14 May 2024)

Michael McGrath: I note the Deputy's query in relation to individual savings schemes. It is important to highlight the existing tax free savings products which are available in Ireland and provide and efficient and attractive way for people to save. The National Treasury Management Agency (NTMA), through State Savings products, offers a wide range of tax free savings products to the general public,...

Written Answers — Department of Finance: Insurance Coverage (14 May 2024)

Michael McGrath: As the Deputy is aware, neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products. This is set out in the EU framework for insurance – the Solvency II Directive – and limits the actions that Government can take in relation to insurance for thatched properties. Nevertheless, I can assure the Deputy that this Government is...

Written Answers — Department of Finance: Tax Code (14 May 2024)

Michael McGrath: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they are exempt from VAT or fall within Annex III of the Directive, in which case lower VAT rates may apply subject to certain rules. Currently Ireland...

Written Answers — Department of Finance: Regulatory Bodies (14 May 2024)

Michael McGrath: The Financial Services and Pensions Ombudsman (FSPO) is an independent, impartial, fair and free service that helps resolve complaints against financial service and pension providers from consumers and small businesses. I approved the FSPO'S Workforce Plan in December 2023, which increased the sanctioned staff complement in the FSPO from 90.2 to 128. I have been informed that arising...

Written Answers — Department of Finance: Housing Policy (14 May 2024)

Michael McGrath: The Ireland Strategic Investment Fund (ISIF) has a statutory mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. In line with this mandate, ISIF focusses its efforts on making transformational investments across its impact themes of Housing and Enabling Investments, Climate, Scaling Indigenous Businesses, and Food and...

Written Answers — Department of Finance: Tax Data (14 May 2024)

Michael McGrath: I propose to take Questions Nos. 237, 238, 239, 240 and 241 together. The Tax Debt Warehousing Scheme was introduced in May 2020 to provide a vital liquidity support to businesses impacted by Covid-19 trading restrictions. The scheme allowed businesses to temporarily ‘park’ eligible taxes on an interest-free basis. After the interest-free period, a low interest rate of 3per cent...

Written Answers — Department of Finance: Employment Rights (14 May 2024)

Michael McGrath: I am advised by the bodies under the aegis of my Department that they are not aware of any cases of bogus self-employment in their organisations in the timeline specified. Neither are there any cases currently before the Scope section of the Department of Social Protection for investigation or determination.

Written Answers — Department of Finance: Tax Data (14 May 2024)

Michael McGrath: I am advised by Revenue that the Mineral Oil Tax (MOT) receipts, broken out by Non-Carbon Component (NCC) and Carbon Component (CC), and estimated VAT receipts collected on Marked Gas Oil (MGO) or green diesel, in each of the past ten years, are shown in the following table. In relation to VAT, I am further advised by Revenue that traders are not required to identify the VAT yield generated...

Written Answers — Department of Finance: Tax Exemptions (14 May 2024)

Michael McGrath: The VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they are exempt from VAT or fall within Annex III of the Directive, in which case lower VAT rates may apply subject to certain rules. Currently Ireland has a standard VAT rate of...

Written Answers — Department of Finance: Primary Medical Certificates (14 May 2024)

Michael McGrath: At the outset, the Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme (DDS) is no longer fit-for-purpose. Consequently, my Department had a significant input into the final report of the National Disability & Inclusion Strategy (NDIS) Transport Working Group's review of mobility and transport supports including the...

Written Answers — Department of Finance: Statutory Instruments (14 May 2024)

Michael McGrath: I would like to inform the Deputy that the correspondence in question has been brought to my attention. I have asked the officials dealing with this matter to meet with the organisation and discuss the matters covered in their correspondence. I have also asked that a report of these discussions be provided to me in due course for my consideration.

Written Answers — Department of Finance: Departmental Advertising (14 May 2024)

Michael McGrath: The Department of Finance did not place advertising in print media from 2019 to date.

Written Answers — Department of Finance: Insurance Industry (9 May 2024)

Michael McGrath: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can direct the pricing or provision of insurance products, as this is a commercial matter which individual companies assess on a case-by-case basis. This position is reinforced by the EU Single Market framework for insurance (the Solvency II Directive). Regarding motor insurance, it is understood that...

Written Answers — Department of Finance: Community Development Projects (9 May 2024)

Michael McGrath: Relevant Contracts Tax (RCT) is a withholding tax that is applied to certain payments made by principals to subcontractors in the construction, forestry and meat processing sectors. The tax deducted is a payment on account against the subcontractors final Income Tax or Corporation Tax liability for the year, with the amount of RCT deducted credited against the tax liability for that year. The...

Written Answers — Department of Finance: Tax Code (9 May 2024)

Michael McGrath: The tax treatment of maintenance payments varies depending on: Whether the maintenance arrangement in place is legally enforceable or voluntary, Whether the maintenance payment is made for the benefit of the other party to the relationship or a child, and The basis of assessment applicable to the couple. Where the payment is legally enforceable and is made for the benefit of the other...