Results 24,201-24,220 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Code (1 Feb 2023)

Michael McGrath: I propose to take Questions Nos. 85 and 88 together. As the Deputies are aware, at present, the 9% rate applies on a temporary basis to the hospitality and tourism  sectors and also to hairdressers. From 1 March 2023, these sectors are due to return to the 13.5% rate. I can confirm that representatives from a number of the sectors concerned have been in contact with my...

Written Answers — Department of Finance: Departmental Advertising (1 Feb 2023)

Michael McGrath: The information requested by the Deputy in relation to the amount spent by my Department on advertising from 2013 to date in 2023 is set out in tabular form below which includes both traditional and online advertising.  The Department is not in a position to demarcate online spend from other forms of expenditure, as some advertising will inevitably involve both.

Written Answers — Department of Finance: Departmental Advertising (1 Feb 2023)

Michael McGrath: I wish to advise the Deputy that only the official Department of Finance social media accounts are used for communications by the press office.

Written Answers — Department of Finance: Tax Credits (1 Feb 2023)

Michael McGrath: Finance Act 2022 introduced the Rent Tax Credit, which is provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 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. Full details of how to claim the tax credit...

Written Answers — Department of Finance: Primary Medical Certificates (1 Feb 2023)

Michael McGrath: The Disabled Drivers and Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain charitable organisations. In order to qualify for relief, the applicant must hold a...

Written Answers — Department of Finance: Tax Credits (1 Feb 2023)

Michael McGrath: The Local Property Tax (LPT) was introduced in 2013 to provide a stable and sustainable funding base for local authorities and is a significant base-broadening measure. LPT has yielded over €4 billion for Local Authorities since its introduction. From its inception the LPT has been underpinned by the principle that keeping the number of exemptions low helps to keep the tax rate low for...

Written Answers — Department of Finance: Business Supports (1 Feb 2023)

Michael McGrath: The Temporary Business Energy Support Scheme (TBESS) was introduced to support qualifying businesses with increases in their electricity or natural gas costs over the winter months. Sections 100 to 102 of Finance Act 2022 make provision for the TBESS. The scheme provides support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February...

Written Answers — Department of Finance: Departmental Schemes (1 Feb 2023)

Michael McGrath: The Ukraine Credit Guarantee Scheme (UCGS) was established by S.I. 641/2022 in December 2022. The Scheme will unlock up to €1.2 billion of low-cost, unsecured working capital and send a strong signal of support to SMEs, small Mid-Caps, and primary producers affected by the Ukraine crisis. The UCGS is a loan guarantee scheme that is being delivered by the Strategic Banking Corporation...

Written Answers — Department of Finance: Banking Sector (1 Feb 2023)

Michael McGrath: The report the Deputy is referring to, the Tomlinson Report, was first published in 2017. The Tomlinson Report specifically investigated how SMEs in the UK that were in financial difficulty were treated by a specific financial entity. In Ireland, since the financial crisis, there has been a series of legislative changes that have equipped the Central Bank of Ireland with an array of...

Written Answers — Department of Finance: Banking Sector (1 Feb 2023)

Michael McGrath: My Department maintains ongoing and close contact with the Central Bank on matters of mutual interest, including in relation to mortgages. As the Deputy is aware, the Report of the Retail Banking Review was published in November 2022. One of its recommendations referred to the findings of the recent IMF Financial System Assessment of Ireland and the need to continue to address the issue...

Written Answers — Department of Finance: Economic Data (1 Feb 2023)

Michael McGrath: In response to the Deputy’s request, please see below in tabular form the available figures for modified total domestic demand in nominal terms along with annual percentage changes. Modified total domestic demand has not yet been published by the CSO for 2022. This will be published as part of the Quarterly National Accounts for the fourth quarter of 2022 in March. Year...

Written Answers — Department of Finance: Legislative Measures (1 Feb 2023)

Michael McGrath: The Office of the Financial Services and Pensions Ombudsman (FSPO) was established under the Financial Services and Pensions Ombudsman Act 2017 (“the Act”) to resolve complaints about the conduct of financial service providers and pension providers.  The FSPO can, subject to time limits, investigate a complaint submitted by an individual pension scheme member, where...

Written Answers — Department of Finance: Departmental Meetings (2 Feb 2023)

Michael McGrath: The Financial Stability Group (FSG), met for the first time in January 2017. The number of meetings held since the formation of the Financial Stability Group (FSG) since 2017 is listed below: Year 2017 2018 2019 2020 2021 2022 2023 No of meetings 9 6 6 20 8 8...

Written Answers — Department of Finance: Capital Expenditure Programme (2 Feb 2023)

Michael McGrath: Following clarification from the Deputy's office, I understand that this question refers to the Accelerated Capital Allowances scheme for Energy Efficient Equipment.  As this is a tax expenditure, there is no specific advance funding allocation. Rather, claims under this scheme are submitted in the annual tax return of the claimant, following the end of the relevant accounting...

Written Answers — Department of Finance: Budget 2023 (2 Feb 2023)

Michael McGrath: The Deputy should note that the fiscal parameters set out in Budget 2023 are based on the temporary tax measures expiring at end-February. The cost of these measures being extended is set out below: Estimated cost of 9% extension for tourism and hospitality by sector to 31.12.2023 Good/Service Total €m Accommodation €102 ...

Written Answers — Department of Finance: Tax Reliefs (2 Feb 2023)

Michael McGrath: I propose to take Questions Nos. 227, 228, 229 and 230 together. The Deputy should note at the outset that it is not possible from the data submitted to Revenue in respect of benefit-in-kind to identify specific statistics solely in relation to BIK on employer-provided vehicles, as the information submitted is not itemised based on the type of benefit granted. Recent Government policy...

Written Answers — Department of Finance: Revenue Commissioners (2 Feb 2023)

Michael McGrath: As the Deputy may be aware, the early months of each year place the highest demand on Revenue’s PAYE Services as taxpayers submit their income tax returns for the previous year, claim any refunds or reliefs to which they may be entitled, and check their tax credits for the current year. As of close of business on 30 January 2023, Revenue have advised me that the PAYE Helpline staff...

Written Answers — Department of Finance: Naval Service (2 Feb 2023)

Michael McGrath: Section 472BB of the Taxes Consolidation Act 1997 (TCA 1997) provides that a tax credit, called the sea-going naval personnel credit, is available to those who satisfy the qualifying conditions of that section. This credit was introduced by Finance Act 2019 in recognition of the proportion of their time that naval personnel spend away from the State at sea (and the various hardships...

Written Answers — Department of Finance: Tax Code (2 Feb 2023)

Michael McGrath: The basis for the current tax treatment of married couples derives from the Supreme Court decision in Murphy vs. Attorney General (1980). This decision was based on Article 41.3.1 of the Constitution where the State pledges to protect the institution of marriage. The decision held that it was contrary to the Constitution for a married couple, both of whom are working, to pay more tax than two...

Written Answers — Department of Finance: Business Supports (2 Feb 2023)

Michael McGrath: The Temporary Business Energy Support Scheme (TBESS) was introduced to support qualifying businesses with increases in their electricity or natural gas costs over the winter months. Sections 100 to 102 of Finance Act 2022 make provision for the TBESS. The scheme provides support to qualifying businesses - including companies, sole-traders and partnerships - in respect of energy costs...