Results 181-200 of 14,758 for speaker:Michael McGrath in 'Written Answers'

Written Answers — Department of Finance: Tax Code (21 Mar 2024)

Michael McGrath: The Residential Zoned Land Tax (RZLT) was introduced in Finance Act 2021 and seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for housing. The tax is an action contained in Housing...

Written Answers — Department of Finance: Fiscal Policy (21 Mar 2024)

Michael McGrath: The NTMA inform me that the Ireland Strategic Investment Fund (ISIF) constructs its portfolio within the legislative framework set for it by the Oireachtas and will align it with any changes it makes. ISIF endeavours to be a responsible investor, actively integrating ESG factors into its decision-making processes with a view to enhancing the overall outcomes for the Fund and ultimately its...

Written Answers — Department of Finance: Official Travel (21 Mar 2024)

Michael McGrath: The response to this question is being finalised by my officials at the moment and will be shared with Deputy Toibín shortly.

Written Answers — Department of Finance: Financial Services (21 Mar 2024)

Michael McGrath: I propose to take Questions Nos. 183 and 184 together. There is a robust consumer protection framework in place in relation to mortgages and other credit agreements. This consumer protection framework provides the same protections for all consumers, regardless of the regulated entity with whom they are dealing such as a bank, a retail credit firm or a credit servicing firm. This framework...

Written Answers — Department of Finance: Tax Code (21 Mar 2024)

Michael McGrath: I understand that the Deputy is referring to “Near Neighbour Payments” made from Community Benefit Funds established by renewable energy projects supported under the Renewable Electricity Support Scheme, which are to be made on an ex-gratia basis. Where a payment is made to an individual, in circumstances where renewable energy activities are being undertaken on neighbouring...

Written Answers — Department of Finance: Tax Data (21 Mar 2024)

Michael McGrath: I am advised by Revenue that the estimated cost to the Exchequer of not proceeding with the scheduled increases in rates on Mineral Oil Tax (MOT) for petrol and auto diesel on 1 April 2024, 1 August 2024, and 9 October 2024, is shown in the following table. The yield will not accrue if these increases do not proceed as scheduled Fuel Type MOT €m VAT...

Written Answers — Department of Finance: Departmental Expenditure (20 Mar 2024)

Michael McGrath: My Department publishes information on Exchequer non-voted expenditure: this data can be found in the annual Finance Accounts, which are available through my Department's website at the following address: www.gov.ie/en/collection/1f1c3a-finance-accounts/. The 2023 Finance Accounts will be published in due course, after being audited by the Comptroller & Auditor General. I am...

Written Answers — Department of Finance: Aviation Industry (20 Mar 2024)

Michael McGrath: Ireland’s excise duty treatment of fuel used for air navigation is governed by European Union (EU) law as set out in Directive 2003/96/EC on the taxation of energy products and electricity, commonly known as the Energy Tax Directive (ETD). The provisions of the current ETD relating to aviation fuels are transposed into national law in Finance Act 1999 (as amended), which provides for...

Written Answers — Department of Finance: An Garda Síochána (20 Mar 2024)

Michael McGrath: I wish to advise the Deputy that my Department has received several threats from anonymous callers and members of the public, with threatening and abusive behaviour towards staff. There were two notable instances where An Garda Síochána were contacted by my Department to report threats against staff, including verbal and physical threats. To specify, in December 2021 my...

Written Answers — Department of Finance: Tax Code (20 Mar 2024)

Michael McGrath: I propose to take Questions Nos. 217, 218 and 226 together. I am advised by Revenue that the VAT registration thresholds are subject to the requirements of EU VAT law, with which Irish VAT law must comply. Ireland’s threshold for a business supplying services is €40,000, and our threshold for a business supplying goods is €80,000. Businesses whose annual turnover is...

Written Answers — Department of Finance: Tobacco Control Measures (20 Mar 2024)

Michael McGrath: I propose to take Questions Nos. 219 and 225 together. The Government is aware that high prices and taxes may make Ireland an attractive location for the illicit trade of tobacco products and therefore tobacco smuggling remains a high priority area. The illicit trade detracts from legitimate businesses, drains resources from the Exchequer, and undermines our public health strategy. Each...

Written Answers — Department of Finance: Departmental Policies (20 Mar 2024)

Michael McGrath: I propose to take Questions Nos. 220 and 221 together. The Central Bank of Ireland, as part of its independent mandate to preserve and protect financial stability, has statutory responsibility for the regulation of residential mortgage lending by banks and other Central Bank regulated mortgage lending institutions. In line with this financial stability mandate, the Central Bank has...

Written Answers — Department of Finance: Insurance Coverage (20 Mar 2024)

Michael McGrath: At the outset, I wish to reassure the Deputy that I recognise the concerns felt by many local community groups across the country around the cost and availability of insurance cover for their centres or halls. Insurance reform is a key priority for this Government and is being delivered via the Action Plan for Insurance Reform with the vast bulk of the actions now either implemented or...

Written Answers — Department of Finance: Tax Code (20 Mar 2024)

Michael McGrath: At the outset, I wish to reassure the Deputy that I recognise the concerns felt by many local community groups across the country around the cost and availability of insurance cover for their centres or halls. Insurance reform is a key priority for this Government and is being delivered via the Action Plan for Insurance Reform with the vast bulk of the actions now either implemented or...

Written Answers — Department of Finance: Housing Schemes (20 Mar 2024)

Michael McGrath: Section 477C of the Taxes Consolidation Act 1997 (TCA) requires that applicants for the Help to Buy (HTB) scheme must be first-time purchasers, which is defined as: " 'an individual who, at the time of a claim under subsection (3) has not, either individually or jointly with any other person, previously purchased or previously built, directly or indirectly, on his or her own behalf a...

Written Answers — Department of Finance: Banking Sector (20 Mar 2024)

Michael McGrath: The NTMA have informed me that they have contacted An Post and I understand that the issue has been resolved.

Written Answers — Department of Finance: Tax Code (20 Mar 2024)

Michael McGrath: I propose to take Questions Nos. 228, 229, 231, 232, 240, 253 and 275 together. As the Deputies will be aware, in 2022 in light of the acute impact rising prices were having on households and business, Government provided for excise rate reductions in the order of 21, 16 and 5.4 cent per litre on petrol, diesel and Marked Gas Oil (MGO) respectively. These temporary reductions were due to...

Written Answers — Department of Finance: Prize Bonds (20 Mar 2024)

Michael McGrath: The NTMA have informed me that the weekly Prize Bond draws are conducted by the Prize Bond Company on behalf of the National Treasury Management Agency; The Prize Bond Company contracts Insight Statistical Consulting, Dublin to conduct independent analysis of weekly prize bond draws.

Written Answers — Department of Finance: Tax Exemptions (20 Mar 2024)

Michael McGrath: Ireland’s excise regime for fuel is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). The ETD prescribes minimum tax rates for fuel with which all Member States must comply. Finance Act 1999 provides for the application of excise duty, in the form of MOT, to specified mineral oils, such as petrol, diesel, and kerosene,...

Written Answers — Department of Finance: Departmental Reviews (20 Mar 2024)

Michael McGrath: As the Deputy is aware, the Remittance Basis of Taxation (RBT) concerns how non-domiciled Irish residents are taxed on their worldwide income. The Domicile Levy was introduced in the Finance Act 2010 to ensure that Irish-domiciled individuals who meet certain criteria make a contribution to the exchequer, irrespective of where they are resident for tax purposes. The purpose of the levy is...