Results 24,381-24,400 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Insurance Industry (21 Feb 2023)

Michael McGrath: As Minister for Finance, I have policy responsibility for the development of the legal framework governing financial services regulation, including for the insurance sector. Within this context, it should be noted that the provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies providing the service and is based on an assessment of the...

Written Answers — Department of Finance: Business Supports (21 Feb 2023)

Michael McGrath: I propose to take Questions Nos. 213 and 225 together. As the Deputies will be aware, in making any decision in relation to VAT rates or other taxation measures, the Government will balance the costs of the measures in question against their impact and the overall budgetary framework. I can confirm that my Department did receive the report referred to.

Written Answers — Department of Finance: Business Supports (21 Feb 2023)

Michael McGrath: I propose to take Questions Nos. 214 and 229 together. 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...

Written Answers — Department of Finance: Fuel Sales (21 Feb 2023)

Michael McGrath: Tax law provides that the first supply of coal and peat in the State is subject to excise duty, in the form of Solid Fuel Carbon Tax (SFCT). SFCT applies at different rates to four categories of solid fuel: coal, peat briquettes, milled peat and other peat. The current SFCT rate for coal is €107.98 per tonne and this applies regardless of the characteristics of the coal involved,...

Written Answers — Department of Finance: Business Supports (21 Feb 2023)

Michael McGrath: Details of the Temporary Business Energy Support Scheme (TBESS) are set out in Finance Act 2022. The scheme provides support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023 and is available to tax compliant businesses carrying on a trade or profession the profits of which are chargeable to tax under Case I or Case II of...

Written Answers — Department of Finance: Banking Sector (21 Feb 2023)

Michael McGrath: The total recapitalisation of the domestic banks amounted to €64.1bn, of which €34.7bn was invested in Anglo Irish Bank and INBS (IBRC) and €29.4bn in AIB, BOI and PTSB. To date, €21.2bn of the investment in the three remaining banks has been recovered in cash by way of disposals, investment income and liability guarantee fees (breakdown in tabular form below). As...

Written Answers — Department of Finance: Driver Licences (21 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 Collection (21 Feb 2023)

Michael McGrath: I propose to take Questions Nos. 219 and 220 together. I am advised by Revenue that a breakdown of carbon tax and non-carbon components of the excise duties charged on each type of fuel and energy product, as collected in 2021 and previous years is published on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statis...

Written Answers — Department of Finance: Business Supports (21 Feb 2023)

Michael McGrath: Details of the Temporary Business Energy Support Scheme (TBESS) are set out in Finance Act 2022. 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 tax compliant businesses carrying on a trade or profession the profits of which are chargeable to tax under Case I or...

Written Answers — Department of Finance: Irish Sign Language (21 Feb 2023)

Michael McGrath: My Department is aware of the requirements of the Irish Sign Language Act 2017 and is committed to meeting the obligations of same. My officials are engaged in preparing appropriate strategies for achieving compliance with the requirements of the Act and will respond to any requests for the service of Irish Sign Language Interpreters. Such service will be provided if requested, with the...

Written Answers — Department of Finance: Insurance Industry (21 Feb 2023)

Michael McGrath: I propose to take Questions Nos. 223 and 224 together. I note that both questions refer to difficulties in relation to the cost and availability of insurance for motorsports. At the outset, it is important to note that neither the Minister for Finance, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, or compel any insurer operating in the Irish...

Written Answers — Department of Finance: State Bodies (21 Feb 2023)

Michael McGrath: I am advised by the Office of the Financial Services and Pensions Ombudsman, that as of 14 February 2023, the FSPO has the following vacancies within its overall staff complement, noting that the FSPO intends to fill nine of these vacancies in Q1 2023: Vacancy Type Number of Vacancies Estimated full year cost of filling each vacancy Timeframe for filling...

Written Answers — Department of Finance: Tax Strategy Group (21 Feb 2023)

Michael McGrath: As the Deputy may be aware, as part of his Budget 2023 speech, my predecessor announced the intention to establish a working group to consider the taxation of funds, life assurance policies and other investment products, as well as commencing a review of specified institutional investment regimes. Specific detail on the parameters of such a review and timelines are still being worked out and...

Written Answers — Department of Finance: Tax Collection (21 Feb 2023)

Michael McGrath: I am advised by Revenue that the breakdown of the carbon tax and non-carbon components of the excise duties charged on petrol and diesel for the years 2019 to 2022 are provided in the tables below. Please note that the 2022 figures are provisional and may be subject to revision. I am further advised by Revenue that Customs data in relation to this query is not readily available, but the...

Written Answers — Department of Finance: Departmental Advertising (21 Feb 2023)

Michael McGrath: I wish to advise the Deputy that the amount spent on advertising and promotion by my Department in 2022 was €185,000. No such expenditure was incurred in January 2023. The bodies under the aegis of my Department which incurred such expenditure in the timeline specified have provided the details in the table below. Body under aegis of Department of Finance ...

Written Answers — Department of Finance: Departmental Staff (21 Feb 2023)

Michael McGrath: I wish to inform the Deputy that the Dept. of Finance has one Communications and Media officer at Assistant Principal Higher, scale; €80,389 - €94,429. The Department of Finance also has four staff in the Press Office. 2 AP Higher, scale; €80,389 - €94,429. 1 Higher Executive Officer, scale; €52,897 - €62,164 1 Clerical Officer, scale; €26,599...

Written Answers — Department of Finance: Tax Credits (21 Feb 2023)

Michael McGrath: I propose to take Questions Nos. 232 and 235 together. The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by Finance Act 2022 and which may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. I am advised by Revenue that as of Friday, 17 February 2023, 154,273 claims had been made in respect...

Written Answers — Department of Finance: Tax Collection (21 Feb 2023)

Michael McGrath: One of the primary functions of Revenue is the collection of tax and ensuring that all taxpayers pay the correct amounts due in a timely manner. The majority of taxpayers want to do the right thing and file and pay their taxes on time, and do not require notification from Revenue to pay outstanding debts. The time limit for filing a VAT return for taxpayers who file and pay through...

Written Answers — Department of Finance: Tax Code (21 Feb 2023)

Michael McGrath: As the Deputy will be aware, the report of the Commission on Taxation and Welfare recommended the introduction of an accommodation tax. The Commission was tasked by government to independently consider how best the taxation and welfare systems can support economic activity and promote increased employment and prosperity in Ireland. Decisions about tax changes are generally taken in the...

Written Answers — Department of Finance: Tax Credits (21 Feb 2023)

Michael McGrath: Finance Act 2022 introduced the Rent Tax Credit, which is provided for in s. 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. Where a claimant is paying rent for a property used by his or her...