Results 181-200 of 15,038 for in 'Written Answers' speaker:Michael McGrath

Written Answers — Department of Finance: Tax Yield (22 May 2024)

Michael McGrath: I propose to take Questions Nos. 56 to 58, inclusive, together. I am advised by Revenue that the amount generated by the local property tax and the number of properties, per Local Authority area, in 2023, are available in Table 2 of the Property Tax Statistics publication for January 2024, which is available on the Revenue website at:...

Written Answers — Department of Finance: Tax Code (22 May 2024)

Michael McGrath: The Government is conscious of the implications of fuel costs for all sectors of society. This is reflected in the fact that in 2022, in light of the acute impact rising prices were having on households and businesses, the Government provided for temporary cuts in excise rates which, inclusive of VAT amounted to 21 cents, 16 cents and 5.4 cents per litre on petrol, auto-diesel and marked gas...

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

Michael McGrath: The Residential Zoned Land Tax or 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. RZLT, which is an action under Housing for All, aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for...

Written Answers — Department of Finance: Tax Reliefs (21 May 2024)

Michael McGrath: The Help to Buy scheme is administered by Revenue to assist first-time buyers with buying or building a new house or apartment. The scheme gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to qualifying criteria outlined in the legislation. In the July 2020 stimulus plan, the scheme was amended so that the level...

Written Answers — Department of Finance: Consumer Protection (21 May 2024)

Michael McGrath: There is generally a condition in insurance policies that, under the terms of the contract, an insurer may assume control and deal with the settlement of any claim. This is the contractual position, and there is generally no requirement that an insurer seek a policyholder’s approval before settling a third-party claim. As the Deputy will be aware, the duties of insurers with...

Written Answers — Department of Finance: Tax Rebates (21 May 2024)

Michael McGrath: As the Deputy is aware questions around the application of the flat-rate farmers refund order have been raised on a number of occasion particularly over how VAT refund claims are being administered and processed by the Revenue Commissioners. The refund order was originally introduced in 1972 and has seen minor amendments to the type of expenditure covered. In 1993, the order was updated...

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

Michael McGrath: Increasing the supply of new homes is key priority for the Government. In 2023, 32,600 new homes were built, 10 per cent higher than the previous year and the highest level since the series began in 2011. During the first quarter of this year, there were 5,840 new home completions, the second highest level since records began in 2011. In the 12 months to end-March 2024, there were 31,800...

Written Answers — Department of Finance: Tax Credits (21 May 2024)

Michael McGrath: The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. For the tax years 2022 and 2023, the maximum value of the credit is €1,000 per year in the case of a jointly assessed couple, and €500 in all...

Written Answers — Department of Finance: EU Agreements (21 May 2024)

Michael McGrath: The Capital Markets Union (CMU) is an ongoing and long term project which aims to deepen and further integrate Europe’s capital markets, support growth and enhance the resilience of the financial system. For Ireland, CMU has the potential to widen the sources of available funding for our companies as well as provide opportunities for our export-oriented financial services sector to...

Written Answers — Department of Finance: Banking Sector (21 May 2024)

Michael McGrath: There are a number of regulatory measures which apply to the provision of new residential mortgage credit, including bridging finance for such a purpose, to consumers. These include the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 and the Central Bank Consumer Protection Code (2012). These measures place a number of obligations on lenders in relation to the...

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

Michael McGrath: The Government is acutely aware that the bulk purchase of homes deeply affects aspiring owner-occupiers and first time buyers, and has introduced numerous measures to address this. This has been addressed both through disincentivising bulk purchases, and through positive steps taken to increase the housing supply. The Department of Finance has been routinely monitoring this area and engaging...

Written Answers — Department of Finance: Primary Medical Certificates (21 May 2024)

Michael McGrath: I propose to take Questions Nos. 81, 97 and 107 together. First, I can report that as of 13 May 2024 there are 708 appellants on the waiting list for the DDMBA. 321 appellants have been assessed since the appeals process recommenced. Of these, 203 were successful. The Board has prioritised the waiting list using clinically-based criteria. They are working to address the backlog as quickly...

Written Answers — Department of Finance: Departmental Strategies (21 May 2024)

Michael McGrath: As Minister for Finance I have no supervisory or investigative role in relation to fraud which is a criminal offence and falls under the remit of the Minister for Justice. However, my Department is drafting a National Payment Strategy (NPS) that, inter alia, is considering actions to prevent fraud, which is a critical issue and something that was not considered in the 2013 National...

Written Answers — Department of Finance: Business Supports (21 May 2024)

Michael McGrath: 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, until 1 May 2024. At its peak in January 2022, there was €3.2 billion debt in the warehouse, the vast majority of which...

Written Answers — Department of Finance: Legislative Measures (21 May 2024)

Michael McGrath: The Department of Finance's Retail Banking Review, published in November 2022, concluded that cash, despite a decline in its usage, remains an important element of the payments system and the broader economy and it is essential that cash remains readily available to customers through ATMs and other means across the country. The Review recommended that the Department of Finance should...

Written Answers — Department of Finance: Illicit Trade (21 May 2024)

Michael McGrath: The Deputy should note that fines for the sale of illicit tobacco are contained in Tobacco Products Tax (TPT) legislation, as set out in Chapter 3 of Part 2 of the Finance Act 2005 (as amended). Sections 78 and 78A of the Act provide that, without prejudice to any other penalty, any person convicted of an offence in relation to the illegal selling of unstamped tobacco products or of illicit...

Written Answers — Department of Finance: Tax Reliefs (21 May 2024)

Michael McGrath: The Help to Buy (HTB) Scheme was introduced in 2017 with the purpose of assisting first-time buyers with the deposit required to purchase or self-build a new house or apartment to live in as their home. The relief is only available in respect of new builds, with a view to increasing the supply of new housing and stimulating demand. The incentive gives a refund of Income Tax and Deposit...

Written Answers — Department of Finance: Tax Credits (21 May 2024)

Michael McGrath: The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. For the tax years 2022 and 2023, the maximum value of the credit is €1,000 per year in the case of a jointly assessed couple, and €500 in all...

Written Answers — Department of Finance: Broadcasting Sector (21 May 2024)

Michael McGrath: As part of his Budget 2023 speech, my predecessor Minister Donohoe announced that he had instructed officials to explore opportunities to support the unscripted sector. This process was undertaken within the Department throughout 2023. After careful consideration I announced, as part of Budget 2024, the intention to proceed with a measure for the unscripted sector. Work is being undertaken by...

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

Michael McGrath: As the Deputy will be aware, the 9 per cent VAT rate was applied on a temporary basis to the hospitality and tourism sectors until 31 August 2023 when it reverted to the 13.5 per cent rate. The 9 per cent rate was introduced on 1 November 2020 in recognition of the fact that the tourism and hospitality sectors were among those most impacted by the public health restrictions put in place...