Results 24,801-24,820 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Code (18 Apr 2023)

Michael McGrath: I propose to take Questions Nos. 384, 392 to 395, inclusive, and 400 and 404 together. The Deputies should note that the background to the introduction of a zero rate of VAT  for solar panels relates to an amendment to Annex III of the VAT Directive in 2022 which  added a number of new categories to which Member States can apply a zero or reduced rate of VAT. One such option is to...

Written Answers — Department of Finance: Financial Services (18 Apr 2023)

Michael McGrath: I propose to take Questions Nos. 385 and 386 together. In Ireland, the operation of Independent ATM Deployers (IADs) is currently not a regulated activity. This was highlighted in the recent publication of the Retail Banking Review which also recommended that they be authorised and supervised by the Central Bank of Ireland. Department officials are currently working on this legislation and...

Written Answers — Department of Finance: Financial Services (18 Apr 2023)

Michael McGrath: I am aware of the issue of access to financial services – in particular mortgage protection insurance – for individuals who have recovered from cancer. This is a very sensitive and important matter for many in our community. Both Minister of State Carroll MacNeill and I have recently met with senior representatives of the insurance industry and pressed the importance of this...

Written Answers — Department of Finance: Fishing Industry (18 Apr 2023)

Michael McGrath: As the Deputy will understand, I am not in a position to comment regarding specific legal proceedings. In respect of the Deputy’s suggestion regarding offering a decommissioned vessel as compensation to any individual, the Department of Agriculture, Food and the Marine has been consulted and it has been confirmed that that the Minister does not acquire title to any vessels pursuant to...

Written Answers — Department of Finance: Fiscal Policy (18 Apr 2023)

Michael McGrath: Banks, including AIB and PTSB, had been amongst the top performers in European stock markets in recent months as rising interest rates improved margins and many banks announced larger returns to investors. However, optimism toward the sector in general was negatively impacted following the various issues with Silicon Valley Bank, Signature Bank and Credit Suisse with the sector...

Written Answers — Department of Finance: Business Supports (18 Apr 2023)

Michael McGrath: The Temporary Business Energy Support Scheme (TBESS) was introduced in Finance Act 2022 to support qualifying businesses with increases in their electricity or natural gas costs arising from the invasion of Ukraine by Russia. The scheme provides support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 30 April 2023. However, subject to...

Written Answers — Department of Finance: Tax Yield (18 Apr 2023)

Michael McGrath: I am informed by Revenue that it is not possible to provide a breakdown of income tax paid on personal pensions due to the nature in which income tax is calculated, which is based on a taxpayers’ total gross income from all sources. Furthermore, payroll data submitted to Revenue does not explicitly distinguish between income from an employment and income arising from an...

Written Answers — Department of Finance: Tax Reliefs (18 Apr 2023)

Michael McGrath: The rationale behind income tax relief for health expenses is broadly intended to provide assistance for significant or exceptional health expenses. Consistent with this rationale, tax relief in respect of qualifying health expenses is provided for in section 469 of the Taxes Consolidation Act 1997.  This section defines "health expenses" as "expenses in respect of the provision of...

Written Answers — Department of Finance: Tax Yield (18 Apr 2023)

Michael McGrath: The Department of Finance and the Revenue Commissioners are continually monitoring the potential economic impact of the implementation of the OECD agreement. It is important to view both Pillars of the Agreement as a package when assessing the impact of the agreement due to the way in which both Pillars of the agreement interact with each other. An initial estimate of the potential...

Written Answers — Department of Finance: Regulatory Bodies (18 Apr 2023)

Michael McGrath: ‘Non-bank’ is a broad term that captures a range of different non-bank financial institutions such as investment funds, money market funds, other financial institutions (OFIs) as well as insurance corporations and pension funds. These non-bank financial institutions have a range of different business models and are engaged in different activities and economic functions. The...

Written Answers — Department of Finance: Prize Bonds (18 Apr 2023)

Michael McGrath: The NTMA has provided me with the following table in response to the Deputy's question. County/Country Value of Unclaimed Prizes Co. Armagh €2,512 Co. Antrim €6,712 Co. Clare €51,636 Co. Cork €309,959 Co. Cavan €30,618 ...

Written Answers — Department of Finance: Tax Reliefs (18 Apr 2023)

Michael McGrath: 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 (TWG). The National...

Written Answers — Department of Finance: Departmental Bodies (18 Apr 2023)

Michael McGrath: The Disabled Drivers & Disabled Passengers Scheme provides relief from VRT 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 who meet specified  medical criteria, as a driver or as a passenger and also to certain organisations. In order to qualify for relief, the...

Written Answers — Department of Finance: Credit Availability (18 Apr 2023)

Michael McGrath: Individual lending decisions are commercial decisions for lenders. Neither the Central Bank nor I can intervene directly in the commercial decision-making process of any financial institution. I have been informed by the Central Bank that it expects all regulated firms to take a consumer-focused approach and to act in their customers’ best interests at all times.  There...

Written Answers — Department of Finance: Tax Data (18 Apr 2023)

Michael McGrath: I am advised by Revenue that tax return data in relation to 2021, 2022 and 2023 are not yet available for analysis and publication. Instead, the Deputy may be aware of Revenue’s Ready Reckoner (Post Budget 2023), which is available on the Revenue website at: www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf This sets out, on page 2, an estimated allocation of...

Written Answers — Department of Finance: Tax Code (18 Apr 2023)

Michael McGrath: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by landowners, including farmers, of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land...

Written Answers — Department of Finance: Departmental Staff (18 Apr 2023)

Michael McGrath: I wish to inform the Deputy the number of staff in my Department currentlyon sick leave or leave cited as stress related is set out in Table A below: Table A: Current Number of Staff on Sick Leave Current Number of Staff on Stress Leave 2 0 The number of staff in my Department currentlyon sick leave or leave cited as stress related over...

Written Answers — Department of Finance: Departmental Staff (18 Apr 2023)

Michael McGrath: I wish to inform the Deputy that there were no allegations of bullying made by departmental staff against departmental staff in each of the past five years, and none to date in 2023. The key policy in relation to this is the "Dignity at Work Policy". This policy sets out procedures for staff to resolve issues or complaints which relate to bullying, harassment or sexual harassment in the...

Written Answers — Department of Finance: Departmental Staff (18 Apr 2023)

Michael McGrath: I wish to inform the Deputy the details of the number of Departmental staff of this Department that were dismissed in each of the past ten years, and to date in 2023 is set out in Table A below. Table A Year Number of Staff Dismissed 2023 0 2022 0 2021 0 2020 0 ...

Written Answers — Department of Finance: Tax Code (18 Apr 2023)

Michael McGrath: In general, capital gains tax (CGT) is chargeable on a gain arising on the disposal of an asset, including a pub licence, at the rate of 33%. The chargeable gain arising on the disposal of an asset is generally the difference between the sale price and the base cost, being the cost incurred when acquiring the asset, however, where an asset is transferred other than by way of a transaction...