Results 23,961-23,980 of 27,945 for speaker:Michael McGrath

Taoiseach a Ainmniú - Nomination of Taoiseach (17 Dec 2022)

Michael McGrath: At the outset, I wish to join with colleagues in conveying my own personal deepest sympathies to the family of the late Private Seán Rooney on their devastating loss, and to send my very best wishes to Private Shane Kearney and his family as his battle continues today. Today's proceedings are an historic occasion in the history of our nation. It is the first time, during a Dáil...

Written Answers — Department of Finance: Tax Code (19 Jan 2023)

Michael McGrath: Finance Act 1999 provides for the application of excise duty in the form of Mineral Oil Tax (MOT) to liquid fuels. MOT is comprised of a non-carbon component and a carbon component with the carbon component being commonly referred to as carbon tax. The non-carbon component of MOT is often referred to as “excise”, “fuel excise”, “fuel tax” or...

Written Answers — Department of Finance: Tax Reliefs (19 Jan 2023)

Michael McGrath: Recent Government policy has focused on strengthening the environmental rationale behind company car taxation. Until the changes brought in as part of the Finance Act 2019, Ireland’s vehicle benefit-in-kind regime was unusual in that there was no overall CO2 rationale in the regime. This is despite a CO2 based vehicle BIK regime being legislated for as far back as 2008 (but never...

Written Answers — Department of Finance: Tax Credits (19 Jan 2023)

Michael McGrath: I propose to take Questions Nos. 204 and 211 together. Finance Act 2022 introduced the Rent Tax Credit, which is provided for in section 473B of the Taxes Consolidation Act 1997. This is an income tax credit of up to €500 per year (or up to €1,000 for jointly assessed couples) which may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. The...

Written Answers — Department of Finance: Banking Sector (19 Jan 2023)

Michael McGrath: The responsibility for providing renewal information to a consumer on a house insurance policy lies with the insurer under the Consumer Insurance Contracts Act 2019. The insurer shall, within a reasonable time before renewal of a contract of insurance (and in any event no later than 20 working days before renewal), notify the consumer on paper or on another durable medium of any alteration to...

Written Answers — Department of Finance: Tax Code (19 Jan 2023)

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 Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply either one or two reduced rates of VAT. Ireland currently operates...

Written Answers — Department of Finance: Customs and Excise (19 Jan 2023)

Michael McGrath: Revenue, as Ireland’s Tax and Customs administration, is responsible for managing the importation and exportation of goods in accordance with European Union Customs legislation. Customs controls are necessary to protect public health, to ensure food safety and product standards and to protect EU businesses from unfair international competition thus preserving jobs for European workers...

Written Answers — Department of Finance: Primary Medical Certificates (19 Jan 2023)

Michael McGrath: My predecessor Minister Donohoe committed to a comprehensive review of the Disabled Drivers and Passengers Scheme (DDS) as part of a broader review of mobility supports. In order to achieve this objective, Minister O’Gorman agreed in September 2021 that the DDS review should be incorporated into the work of the National Disability Inclusion Strategy (NDIS) Transport Working Group...

Written Answers — Department of Finance: Tax Reliefs (19 Jan 2023)

Michael McGrath: Recent Government policy has focused on strengthening the environmental rationale behind company car taxation. Until the changes brought in as part of the Finance Act 2019, Ireland’s vehicle benefit-in-kind regime was unusual in that there was no overall CO2 rationale in the regime. This is despite a CO2 based vehicle BIK regime being legislated for as far back as 2008 (but never...

Written Answers — Department of Finance: Tax Reliefs (19 Jan 2023)

Michael McGrath: The legislation governing the deductibility of expenses incurred in employment is set out in section 114 of the Taxes Consolidation Act 1997 (TCA 1997), which provides that for an expense to qualify as a deduction against income from an office or employment, the expense must be wholly, exclusively and necessarily incurred in the performance of the duties of the office or employment. I am...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Reliefs (24 Jan 2023)

Michael McGrath: I thank the Deputy for his good wishes and I look forward to working with him over the period ahead. As the Deputy will be aware, the position is that the formulation and implementation of monetary policy in the eurozone and the setting of official interest rates is an independent matter for the ECB. The Government has no role in setting official interest rates, nor in setting the retail...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Reliefs (24 Jan 2023)

Michael McGrath: The Deputy is correct to highlight the impact of changes in monetary policy on mortgage holders. They also have an impact on businesses and the sovereign. We have to consider all of these issues in the round. For example, we have to consider in the coming weeks a number of various taxation measures that are due to expire. I have no doubt that the Deputy will have certain views on those as...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Reliefs (24 Jan 2023)

Michael McGrath: -----that more than 90% of the new mortgages being issued are fixed rate in nature, so many of those who took up mortgages recently are protected.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Reliefs (24 Jan 2023)

Michael McGrath: I have not seen Sinn Féin's proposal. I am sure it will be published, if it has not been already. If the Deputy wants to send it to me, I will take a look at it. Targeting through mortgage interest relief is difficult. In my initial remarks, I referenced the way in which the distribution of the benefit of mortgage interest relief in the past was heavily skewed in favour of the...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (24 Jan 2023)

Michael McGrath: I thank Deputy Nash for his good wishes. I look forward to working with him in a constructive spirit insofar as we possibly can. I am sure all of us across the floor will have certain clashes and disputes, but hopefully we can conduct our business in good spirits. As the Deputy will be aware, the temporary reduction in the rate of VAT from 13.5% to 9% for gas and electricity was first...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (24 Jan 2023)

Michael McGrath: At the outset, as Minister I acknowledge the reality that many individuals and families are genuinely struggling at this point in time. Of course, I accept and recognise that point. I meet people in the course of my constituency work all the time and I know the lived reality of many. That is why we brought forward a budget with an overall package of new measures of €11 billion, of...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (24 Jan 2023)

Michael McGrath: First of all, I remind people that the next round of the electricity credit is being applied this month. A further round of that €200 credit will be applied to domestic accounts in March. Again, that is part of the measures that we announced in late September which are still working their way through. Because of the way in which we scheduled and staggered them, the benefits of those...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (24 Jan 2023)

Michael McGrath: As the Deputy is aware, at present the 9% rate applies on a temporary basis to the hospitality and tourism sectors until the end of February. The 9% rate was introduced in recognition of the fact that the tourism and hospitality sectors were among those most impacted by the public health restrictions put in place throughout the pandemic. Through no fault of their own, bars, hotels and...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (24 Jan 2023)

Michael McGrath: To answer the Deputy's question directly, I have asked my Department to carry out an assessment of all the measures that are currently due in law to expire at the end of February. I will shortly meet my officials to go through that and consider their assessment of all those measures, the economic impact, the current economic circumstances and so on. The key issue for me is to make sure...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (24 Jan 2023)

Michael McGrath: As the Deputy knows, the costing that has been put on the overall measure being extended to the end of the year is €427 million, which is a very large sum of money by any yardstick. The Deputy asked verbally and in writing about excluding hotel accommodation. I am advised by Revenue, as I set out last week in written replies to parliamentary questions, that there would be significant...