Results 24,541-24,560 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Insurance Coverage (7 Mar 2023)

Michael McGrath: At the outset, it is important to note that neither the Minister of State, the Minister for Finance, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products. This position is reinforced by the EU framework for insurance (the Solvency IIDirective). Consequently, the Minister is not in a position to direct insurance companies as to how they price their...

Written Answers — Department of Finance: Tax Code (7 Mar 2023)

Michael McGrath: The Deputy should note that since the UK left the EU Single Market and Customs Union, from 1 January 2021, the movement of goods from Great Britain into the EU is an importation from a third country and, in accordance with the terms of the Withdrawal Agreement, such goods must be declared to Customs, and are liable to customs duty (if applicable) and VAT at import. Under the terms of the...

Written Answers — Department of Finance: Energy Policy (7 Mar 2023)

Michael McGrath: I propose to take Questions Nos. 218, 219 and 234 together. I am responding to these questions as my Department monitors actions related to the Government’s commitment to the Glasgow Statement on International Public Support for the Clean Energy Transition. My Department has not provided direct public support for the international unabated fossil fuel energy sector for the years 2019...

Written Answers — Department of Finance: Ethics in Public Office (7 Mar 2023)

Michael McGrath: In general, issues of conflicts of interest that can arise for Oireachtas members and office holders fall under the statutory framework for Ethics, which consists of the Ethics in Public Office Act 1995 as amended by the Standards in Public Office Act 2001 - collectively called the ‘Ethics Acts’ and currently under the auspices of my Department. For example, the Ethics Acts...

Written Answers — Department of Finance: Ethics in Public Office (7 Mar 2023)

Michael McGrath: As the Deputy notes, the recently published Review of the statutory framework for Ethics made a number of recommendations on the statutory framework that broadly focus on five key themes: - A legislative framework for Ethics to be underpinned by a set of overarching integrity principles. - New specific statutory prohibitions, including on the use of insider information. - Strengthening...

Written Answers — Department of Finance: Cost of Living Issues (7 Mar 2023)

Michael McGrath: The Government is acutely aware of the cost of living pressures facing households and businesses and has acted swiftly and frequently to help ease the burden. In advance of Budget 2023, Government provided some €3 billion in direct relief, including the first energy credit for every household, lump sum payments in respect of the fuel allowance, and a reduction in the tax levied on...

Written Answers — Department of Finance: Fiscal Policy (7 Mar 2023)

Michael McGrath: At the outset, I would highlight that it is not for the civil service - in this case my Department - to reduce national debt; policy is always the responsibility of Government. At the end of last year, Ireland's public debt stood at an estimated €226 billion. To put this into perspective, it is the equivalent of €44,250 for every resident of our country, a figure that is...

Written Answers — Department of Finance: Tax Reliefs (7 Mar 2023)

Michael McGrath: As I have stated previously in the House, 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 interest rates that lenders may charge on their loans, including mortgages. That is a...

Written Answers — Department of Finance: Tax Reliefs (7 Mar 2023)

Michael McGrath: Help to Buy (HTB) is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive offers a refund on Income Tax and Deposit Interest Retention Tax paid in the State over the previous four years, subject to certain limits. Section 477C of the Taxes Consolidation Act 1997 requires that applicants for the HTB scheme must be...

Written Answers — Department of Finance: Tax Code (7 Mar 2023)

Michael McGrath: I propose to take Questions Nos. 227 and 236 together. In January of this year, officials from my Department compiled a ministerial briefing on a number of measures, including the temporary 9 per cent VAT rate. This briefing included an economic assessment of the measure. The material outlined the macroeconomic backdrop to any extension of the 9 per cent rate, noting that the economy...

Written Answers — Department of Finance: Tax Reliefs (7 Mar 2023)

Michael McGrath: I propose to take Questions Nos. 228 and 230 together. Section 114 of the Taxes Consolidation Act 1997 (TCA) provides for a tax deduction in respect of expenses incurred wholly, exclusively and necessarily by an individual in the performance of the duties of his or her employment. I am advised by Revenue that the flat rate expense (FRE) regime it operates is done so on an...

Written Answers — Department of Finance: Primary Medical Certificates (7 Mar 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 Yield (7 Mar 2023)

Michael McGrath: As the Deputy will be aware, in 2022 my predecessor provided for a reduction in the rates of excise applied to petrol and diesel. These reduced rates were due to expire on 28 February 2023 but the Government decision of 21 February 2023 provided for a further extension of these reduced rates. On 1 June 2023 a phased restoration of these rates will begin with two further restoration dates in...

Written Answers — Department of Finance: Tax Yield (7 Mar 2023)

Michael McGrath: I am informed by Revenue that a breakdown of net tax receipts, including VAT, by economic sector is available on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/receipts/receipts-sector.aspx The hospitality sector is approximately captured under Accommodation & Food Services in this breakdown. I am further informed by Revenue that traders are...

Written Answers — Department of Finance: Consumer Rights (7 Mar 2023)

Michael McGrath: The consumer’s right to use cash as a means of payment is based in contract law in Ireland. In this context, where a business places no restrictions on the means of payment it is prepared to accept, it must accept cash as legal tender when offered by a customer to settle a debt that has arisen. If a business specifies payment must be in a form other than cash, the customer cannot...

Written Answers — Department of Finance: Irish Bank Resolution Corporation (7 Mar 2023)

Michael McGrath: I am advised by the Special Liquidators of IBRC that as a consequence of a mediation which took place on 23 January 2023, IBRC and EY agreed to settle the proceedings on confidential terms, without admission of liability. It was agreed that the proceedings will be discontinued by the Special Liquidators with no further order. The terms of the settlement are confidential and their disclosure...

Written Answers — Department of Finance: Consumer Rights (7 Mar 2023)

Michael McGrath: The Retail Banking Review, published in November 2022,recommended that the Department of Finance should develop Access to Cash legislation and prepare heads of a bill in 2023. The Review also called on Department officials to prepare heads of a bill in 2023 to require ATM operators to be authorised and supervised by the Central Bank and to provide the Central Bank with responsibility and...

Written Answers — Department of Finance: Tax Code (7 Mar 2023)

Michael McGrath: Section 664 of the Taxes Consolidation Act 1997 provides relief from income tax for certain income from long-term leasing. The relief is available, subject to a maximum limit, where farm land is leased to a qualifying lessee for a period of five years or more. In order to qualify as a qualifying lessee for the purpose of the relief, the lessee must not be connected with the lessor, or with...

Written Answers — Department of Finance: Vehicle Registration Tax (7 Mar 2023)

Michael McGrath: I propose to take Questions Nos. 239 to 241, inclusive, together. I am informed by Revenue that the Drivers and Passengers with Disabilities (DPD) scheme provides for repayment or remission of VAT and Vehicle Registration Tax (VRT) up to a certain limit on the purchase of an adapted vehicle for the transport of a person with specific severe and permanent physical disabilities. The table below...

Written Answers — Department of Finance: Primary Medical Certificates (7 Mar 2023)

Michael McGrath: I propose to take Questions Nos. 242, 243 and 259 together. As the Deputy is aware the previous members of the DDMBA resigned effective from 30th November 2021. Since then two Expression of Interest campaigns have been held, seeking suitable candidates for the Board. The Department of Health has led on all actions and tasks with respect to the Expression of Interest Campaigns. Department...