Results 24,401-24,420 of 27,945 for speaker:Michael McGrath

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

Michael McGrath: I am advised by Revenue that Betting Duty is charged on all bets placed by a person with a Licensed Bookmaker (Traditional Licence), a Licensed Remote Bookmaker (Remote Licence) or a Licensed Remote Betting Intermediary (Commissions Licence). The rate of Betting Duty charged on bets placed with holders of a Traditional and/or Remote Licence is 2%, while the rate of Betting Duty applicable to...

Written Answers — Department of Finance: Ukraine War (21 Feb 2023)

Michael McGrath: As the Deputy will be aware, the direct provision of service and supports to Ukraine and the Ukrainian people primarily falls to other Government Departments. However, the Department does provide support through a number of indirect channels, notably EU Member State guarantees for Macro-Financial Assistance (MFA) loans and monies to cover the associated interest rate costs; the Revenue...

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

Michael McGrath: I wish to advise the Deputy that there have been no discrimination cases taken against the Department for the past ten years in each of the nine grounds of Gender, Civil Status, Family Status, Sexual Orientation, Religion, Age, Disability, Race and Membership of the Travelling Community as stated in the Employment Equality Act 1998-2015. Under the Civil Service Diversity Policy - A Policy of...

Written Answers — Department of Finance: Insurance Industry (22 Feb 2023)

Michael McGrath: Securing a more sustainable and competitive market through deepening and widening the supply of insurance in Ireland is a key policy objective for this Government. It is recognised that a small number outdoor/high-footfall activity sectors, including motorcycle sports, are currently facing difficulty in terms of affordability and availability of insurance. Government has therefore prioritised...

Written Answers — Department of Finance: Business Supports (22 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: Business Supports (22 Feb 2023)

Michael McGrath: The Strategic Banking Corporation of Ireland (SBCI) began lending in March 2015. By the end of December 2022, the SBCI had supported lending of €3.4 billion to more than 53,000 SMEs, from all sectors of the Irish economy and across a wide geographical spread. The SBCI has a number of schemes launched and in development to help release further funding to support suitable projects....

Written Answers — Department of Finance: Insurance Coverage (22 Feb 2023)

Michael McGrath: I am aware of the issue of access to certain insurance services – in particular mortgage protection insurance – for individuals who have recovered from cancer and those with certain other conditions. This is a very sensitive matter for many in our community. The Deputy has suggested a Government-sponsored scheme for affected individuals. While I appreciate the intent of such a...

Written Answers — Department of Finance: Departmental Staff (22 Feb 2023)

Michael McGrath: I wish to inform the Deputy that the Dept. of Finance Turnover figures for the relevant years are as follows. Turnover - The number of staff who have moved from / left the Department within the period. 2020 13.05% - 44 Officers 2021 15.89% - 52 Officers 2022 25.41% - 82 Officers The Department also kept a copy of...

Written Answers — Department of Finance: Tax Code (22 Feb 2023)

Michael McGrath: As the Deputy will be aware, in making any decision in relation to VAT rates or other taxation measures, the Government must balance the costs of the measures in question against their impact and the overall budgetary framework. In the case of the tourism and hospitality sectors an extension of the 9% VAT rate to the end of 2023 would cost over €500m. However, Government...

Written Answers — Department of Finance: Tax Reliefs (22 Feb 2023)

Michael McGrath: I note that the Deputy’s question relates to a particular banking institution. However, section 851A of the Taxes Consolidation Act 1997 precludes the Revenue Commissioners from directly or indirectly disclosing taxpayer information to third parties unless this is specifically provided for in legislation. Therefore, neither Revenue nor I can comment on the tax affairs of any individual...

Written Answers — Department of Finance: Tax Yield (22 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: Appointments to State Boards (22 Feb 2023)

Michael McGrath: I can advise the Deputy that since its establishment in 2018, a serving public servant was appointed to the Financial Services and Pensions Ombudsman Council (FSPOC). The One Person One Salary rule was applied in respect of the FSPOC member during this period. That member continued in the role of FSPOC member following their retirement from a State Agency in 2020. Following a Public...

Written Answers — Department of Finance: Lobbying Reform (22 Feb 2023)

Michael McGrath: My Department does not routinely collect the information requested in the format that the Deputy has asked for. However, to be of assistance to the Deputy, this information has been collated and I am informed that there are 5 senior staff members of my Department who are on the boards of bodies that fall within the scope of the question. I would note that in the majority of cases, the staff...

Written Answers — Department of Finance: Financial Irregularities (22 Feb 2023)

Michael McGrath: The revised Payment Service Directive (2015/2366/EU) (PSD2) is a maximum harmonisation directive and insofar as the Directive contains harmonised provisions, Member States shall not maintain or introduce provisions other than those laid down in this Directive. PSD2 provides the customer with recourse for unauthorised transactions. However, it does not directly provide recourse for the...

Written Answers — Department of Finance: Tax Reliefs (23 Feb 2023)

Michael McGrath: Section 477C of the Taxes Consolidation Act 1997 (TCA) requires that applicants for the Help to Buy (HTB) scheme must be first-time purchasers, which is defined as: "'first-time purchaser' means an individual who, at the time of a claim under subsection (3) has not, either individually or jointly with any other person, previously purchased or previously built, directly or indirectly, on his...

Written Answers — Department of Finance: Tax Code (23 Feb 2023)

Michael McGrath: Ireland’s taxation of fuel and electricity is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). The ETD prescribes minimum tax rates for fuel and electricity with which all Member States must comply. Ireland’s national legislation provides for the application of carbon taxes to liquid fuels, natural gas and solid...

Written Answers — Department of Finance: Tax Reliefs (23 Feb 2023)

Michael McGrath: S. 216D Finance Act 2021 provides for a tax disregard in respect of personal income received by households who sell residual electricity from micro-generation back to the national grid. From 1 January 2022 an income disregard of up to €200 per year applies to profits or gains arising to a qualifying person from the micro-generation of electricity. The measure will operate for an...

Written Answers — Department of Finance: Tax Data (23 Feb 2023)

Michael McGrath: There are three Accelerated Capital Allowance (ACA) schemes currently in operation, each of which can provide a 100% deduction in year one for certain qualifying expenses incurred by businesses. The ACA scheme for Energy Efficient Equipment aims to support businesses in choosing more energy-efficient options when purchasing plant and equipment for business use. The scheme allows...

Written Answers — Department of Finance: Tax Code (23 Feb 2023)

Michael McGrath: Professional Services Withholding Tax (PSWT) is a deduction at the standard rate of income tax, currently 20%, from relevant payments made by accountable persons to specified persons in respect of certain professional services. The tax deducted is a payment on account against the specified person’s final Income Tax or Corporation Tax liability for the year, with the amount of PSWT...

Written Answers — Department of Finance: Insurance Coverage (23 Feb 2023)

Michael McGrath: I am aware of the issue of access to certain insurance services – in particular mortgage protection insurance – for individuals with underlying health conditions, including historical illnesses such as cancer. This is a very sensitive matter for many in our community. The Deputy has suggested that the State could provide life cover for affected individuals. While I appreciate...