Results 81-100 of 15,009 for speaker:Michael McGrath in 'Written Answers'

Written Answers — Department of Finance: Tax Forms (11 Jun 2024)

Michael McGrath: I am advised by Revenue that section 469 of the Taxes Consolidation Act 1997 (TCA 1997) provides for tax relief where an individual proves that he or she has incurred costs in respect of qualifying health expenses. Only “health expenses” incurred in the provision of “health care”, which has been carried out or advised by (in certain circumstances) a practitioner,...

Written Answers — Department of Finance: Tax Code (11 Jun 2024)

Michael McGrath: The legislation governing the deductibility of expenses incurred in employment is contained in section 114 Taxes Consolidation Act 1997 (TCA). To qualify for tax relief under this section, any expenses of travelling (and subsistence relating to that travel) must be necessarily incurred in the performance of the duties of the relevant employment. For all other expenses, they must be wholly,...

Written Answers — Department of Finance: Budget 2024 (11 Jun 2024)

Michael McGrath: The Tax Policy Changes document, which was published as part of Budget 2024, set out both the first and full year cost of tax policy measures. Carryover is calculated as the difference between the impact of a measure on a full year and on 2024. The impact of carryover will be reviewed as part of the normal budgetary process, as there are several moving parts to be considered, such as the...

Written Answers — Department of Finance: Tax Code (11 Jun 2024)

Michael McGrath: I am taking this question to refer to the model of Financial Transactions Tax proposed by the European Commission, initially in 2011 and then revised under the EU’s enhanced cooperation procedure in February 2013. The proposed rate on exchanges of shares was 0.1% and the proposed rate for derivative transactions was 0.01%. Ireland already has a tax on financial transactions, a Stamp...

Written Answers — Department of Finance: Tax Yield (11 Jun 2024)

Michael McGrath: In October 2021, Ireland, along with more than 135 other countries, signed up to the two-pillar solution to address the tax challenges arising from digitalisation. Discussions remain on-going at the OECD on a number of key elements of Pillar One which, once agreed, would involve a portion of taxable profits from Irish-based multinationals being reassigned to other jurisdictions and,...

Written Answers — Department of Finance: Tax Exemptions (11 Jun 2024)

Michael McGrath: As previously outlined , the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under our legislation the provision of medical care services by recognised medical professionals are exempt from VAT. However in order for them to be exempt, there has to be a formal registration process thus explaining why counsellors and...

Written Answers — Department of Finance: Insurance Coverage (11 Jun 2024)

Michael McGrath: At the outset, I wish to reassure the Deputy that I recognise the concerns felt by some sport and recreation clubs regarding insurance cover. Officials from my Department have engaged with representative groups in the sector and have determined that there does not appear to be a widespread issue with market capacity. Notably, last summer, the rebalancing of the Duty of Care—one of the...

Written Answers — Department of Finance: Departmental Data (11 Jun 2024)

Michael McGrath: I wish to inform the Deputy that my Department has made available training in unconscious bias open to all staff. This comprised a half day workshop on Unconscious Bias which took place in both 2021 and 2022. This training programme aims to assist staff in recognising their biases and assist in the promotion of equality. The training provider was The Hobbs Consultancy and the cost of the...

Written Answers — Department of Finance: Legislative Measures (11 Jun 2024)

Michael McGrath: The Government legislative priorities for the Oireachtas term running up to the Summer Recess have been published at: . Three Bills which fall under the responsibility of the Department of Finance have been listed in the Priority for Publication list. All legislation in the lists will be progressed, but my officials will continue to prioritise these three Bills in particular. Those three...

Written Answers — Department of Finance: Tax Code (11 Jun 2024)

Michael McGrath: In line with the last number of years, the Stability Programme Update tax revenue projections incorporate an indicative tax package each year from 2025, on the order of €1.1 billion as outlined in Government's medium strategy in the Summer Economic Statement 2023. On a cumulative basis, this equates to c. €3.3 billion from 2025 to 2027. It should be emphasised that this is a...

Written Answers — Department of Finance: Primary Medical Certificates (11 Jun 2024)

Michael McGrath: 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 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 whilst...

Written Answers — Department of Finance: Primary Medical Certificates (11 Jun 2024)

Michael McGrath: 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 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 whilst...

Written Answers — Department of Finance: Official Engagements (11 Jun 2024)

Michael McGrath: Since my appointment as Minister for Finance in December 2022, I have not yet had any formal engagement with the Turkish Finance Minister, Mehmet Simsek. Ireland shares membership of a number of European organisations alongside Turkey, such as the Organisation for Economic Cooperation and Development (OECD), while diplomatic relations are facilitated between our respective resident Embassies...

Written Answers — Department of Finance: Pension Provisions (11 Jun 2024)

Michael McGrath: The Department of Social Protection (DSP) State pension (contributory) is a taxable source of income, similar to certain other DSP payments including Jobseekers’ Benefit and Maternity Benefit. As such, it is liable to Income Tax (IT) although it is not subject to the Universal Social Charge (USC) or Pay Related Social Insurance (PRSI). Section 126(2B) of the Taxes Consolidation Act...

Written Answers — Department of Finance: Departmental Correspondence (11 Jun 2024)

Michael McGrath: Officials from my Department have consulted with the insurance sector on the matter raised by the Deputy, including with Insurance Ireland. It has confirmed that, in its view, there is no widespread market capacity issue in the provision of insurance for children’s summer camps, and that some of the largest insurance companies in the State offer cover for a range of activities. It did...

Written Answers — Department of Finance: Revenue Commissioners (11 Jun 2024)

Michael McGrath: I am advised by Revenue that in the past four years (i.e., 01/06/2020 – 31/05/2024), 115 compliance interventions have been opened in respect of individuals aged over 80 years. The Deputy will wish to note that Revenue operates a 3 Level Compliance Intervention Framework, designed to provide a consistent graduated response to risks identified in the taxpayer base. This Framework...

Written Answers — Department of Finance: Tax Code (11 Jun 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...

Written Answers — Department of Finance: Vehicle Registration Tax (11 Jun 2024)

Michael McGrath: The Deputy should note that if a vehicle is a mechanically propelled vehicle that is used on public roads, there is a requirement to register that vehicle, under section 131 of the Finance Act 1992. Registration is required to take place within 30 days of construction or importation into the State under Statutory Instrument 318/1992 - Vehicle Registration and Taxation Regulations 1992. A...

Written Answers — Department of Finance: Revenue Commissioners (11 Jun 2024)

Michael McGrath: My Department and Revenue have, for some time, been aware of issues which arose from contractual arrangements within the General Practitioner (GP) community whereby some GPs treat income under their General Medical Services (GMS) contract as income of a GP practice in which they are a partner or an employee, rather than income of that individual GP. To clarify the correct tax treatment of GMS...

Written Answers — Department of Finance: Departmental Contracts (11 Jun 2024)

Michael McGrath: The ‘National Public Procurement Policy Framework’ issued by the Office of Government Procurement (OGP) sets out the procurement procedures to be followed by government departments and state bodies in accordance with EU rules and national guidelines. In addition, my Department has its own internal policy and guidance documents to assist staff to comply with all procurement...