Results 24,261-24,280 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Code (14 Feb 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 Exemptions (14 Feb 2023)

Michael McGrath: I am advised by Revenue that, while the question refers to VAT exemption, the person in question has been in recent correspondence regarding the requirement to file a particular VAT claim electronically. In general, certain claims for repayment of tax must be filed electronically, unless the claimant meets the eligibility criteria to submit a paper claim. More information on this can be...

Written Answers — Department of Finance: Customs and Excise (14 Feb 2023)

Michael McGrath: I advised by Revenue that it maintains trade facilitation and enforcement operations on a 24-7 basis at Dublin Port and Dublin Airport. The number of individual inspections carried out in these frontier locations is not recorded. During 2022, and to the end of January 2023 no inspections were carried out at Dun Laoghaire Port. I am advised that Dun Laoghaire Port is a landing Port within...

Written Answers — Department of Finance: State Pensions (14 Feb 2023)

Michael McGrath: The Department of Social Protection (DSP) State pension (contributory) is a taxable source of income, similar to 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). I am advised by Revenue that, where a person is in...

Written Answers — Department of Finance: Tax Clearance Certificates (14 Feb 2023)

Michael McGrath: Tax Clearance is required for various purposes, such as renewal of a variety of licences and permits, public sector contracts, grants, subsidy payments and Government supports. While a business may have their tax clearance rescinded due to compliance issues, it can also be rescinded for reaching its expiry date. (An application for a Tax Clearance Certificate will normally expire after one...

Written Answers — Department of Finance: Business Supports (15 Feb 2023)

Michael McGrath: Sections 100 to 102 of the Finance Act 2022 make provision for the Temporary Business Energy Support Scheme (TBESS). The scheme provides support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023. The TBESS is available to eligible tax compliant businesses carrying on a trade or profession, the profits of which are...

Written Answers — Department of Finance: Tax Code (15 Feb 2023)

Michael McGrath: Local Property Tax (LPT), in common with all other taxes and duties, must have a robust but reasonable set of sanctions open to Revenue to apply in appropriate cases. Section 1080 of the 1997 Taxes Consolidation Act provides for the charging of interest on the late payment of Income Tax. The current rate applied to such late payments is 8% per annum (0.0219% per day). This rate also applies...

Written Answers — Department of Finance: Tax Code (15 Feb 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 CO2rationale in the regime. This is despite a CO2based vehicle BIK regime being legislated for as far back as 2008 (but never having...

Written Answers — Department of Finance: Business Supports (15 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. Ireland received State Aid approval from the EU Commission for the TBESS scheme under the Temporary Crisis Framework for State Aid measures to support the economy following the aggression against Ukraine by...

Written Answers — Department of Finance: Departmental Policies (15 Feb 2023)

Michael McGrath: Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the Employment Wage Subsidy Scheme (EWSS) which was an economy-wide enterprise support for eligible businesses in respect of eligible employees. The scheme closed with effect from 31 May 2022. As the Deputy will be aware, eligibility to EWSS was based on the employer demonstrating that its...

Written Answers — Department of Finance: Insurance Industry (15 Feb 2023)

Michael McGrath: In order to provide a complete response, my officials contacted the Central Bank of Ireland in relation to the Deputy’s query. The Central Bank has advised that the Consumer Protection Code sets out its expectations of how regulated entities, including insurance companies, should treat consumers. The Code states that regulated entities must act honestly, fairly and professionally in...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: I thank the Cathaoirleach and committee members for the opportunity to appear to discuss the Revised Estimates for 2023. I am joined by Mr. Paul Cotter, principal officer in the finance division, and Ms Laurna Cunningham, finance officer at the Department. As Minister for Finance, I will be discussing the four votes within the finance group of Votes: Vote 7 - the Department of Finance; Vote...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: I think the primary driver of that is that more meetings are now happening in person. There was a significant reduction in travel and subsistence-related costs in my Department and indeed across all Departments for two years or so during Covid-19, as the Deputy knows. Now there is more in-person travel and in-person meetings taking place and that is the main reason. There is not any other...