Results 24,821-24,840 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Insurance Coverage (18 Apr 2023)

Michael McGrath: I am aware of the issue of access to certain insurance services – including life insurance – for individuals with underlying health conditions and chronic illnesses. This is a very sensitive matter for many in our community. As the Deputy will appreciate, neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, nor can we...

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

Michael McGrath: As the Deputy is aware, the Small Gift Exemption is an annual CAT relief available to all recipients of gifts. This means that each parent can give a gift to the value of €3,000 to a child (or anyone else) each calendar year without any CAT arising. Two parents can make gifts to a child to the value of €6,000 in any year free of CAT. Indeed, two parents could, if they wished,...

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

Michael McGrath: It is assumed that the Deputy’s proposals are to increase the married age exemption limits to €45,000 and €50,000 per annum respectively. On that basis, I am advised by Revenue that the estimated first and full year cost of increasing the age exemption limit to €45,000 for a married couple and €22,500 for a single person would be in the order of...

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

Michael McGrath: Motor tax rates for different categories of vehicle are provided for in Part I of the Schedule of the Finance (Excise Duties) (Vehicles) Act 1952. Paragraph 2 (c) covers any vehicle for the conveyance of a machine, workshop, contrivance or implement, including recovery vehicles, and sets the motor tax rate for these vehicles at €333 per annum (the same rate as a commercial van)....

Written Answers — Department of Finance: Revenue Commissioners (18 Apr 2023)

Michael McGrath: I understand that the Deputy’s question relates specifically to Revenue’s recent Local Property Tax (LPT) compliance campaign. I am advised by Revenue that LPT returns and payments have been filed, and are up to date for approximately 1.7m properties for the year 2023. This represents a return and payment compliance rate of 93% and 90% respectively. Revenue conducts a...

Written Answers — Department of Finance: Official Engagements (18 Apr 2023)

Michael McGrath: Ireland enjoys a deep and wide-ranging bilateral relationship with Canada, owing from our historic cultural and people-to-people ties, our economic and trade relationship, and our cooperation on global affairs across an array of fora and channels. Since my appointment as Minister for Finance last December, I have not yet had direct engagement with Canada’s Deputy Prime Minister and...

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

Michael McGrath: The Terms of Reference for the Citizens' Assembly on Biodiversity Loss specify that: the Government shall, on consideration of the report from the Citizens’ Assembly, provide in the Houses of the Oireachtas a response to each recommendation of the Assembly, setting out a timeframe for implementing those recommendations which it accepts. Having now received the report of the...

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

Michael McGrath: At the outset the Deputy should note that I have no role in relation to the granting or refusal of primary medical certificates and the HSE and the Medical Board of Appeal must be independent in their clinical determinations. Therefore I can provide no update. In relation to the the recommencement of the Disabled Drivers Medical Board of Appeal (DDMBA), the position is  that...

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

Michael McGrath: The VAT gap is an estimate comparing a maximum theoretical tax liability (approximated from economic activity in a country) against actual VAT collected. A tax gap can arise for many reasons, including non-compliance but also due to legitimate tax optimisation, insolvencies, bankruptcies and economic activity not fully captured in National Accounts data.   ...

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

Michael McGrath: On 8th December 2022, the European Commission published its proposed “VAT in the Digital Age” reforms to amend the European Union VAT system to respond to the challenges of digitalisation.  The proposed reforms aim to make the EU’s VAT system more resilient to fraud and more efficient for businesses.  There are three pillars involved in the proposal. ...

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

Michael McGrath: As the Deputy may be aware, for the purposes of capital acquisitions tax (“CAT”), the relationship between the person who provides a gift or inheritance (“the disponer”) and the person who receives it (“the beneficiary”) determines the tax-free threshold (“Group Threshold”) below which CAT does not arise. Any prior gift or...

Written Answers — Department of Finance: Interest Rates (18 Apr 2023)

Michael McGrath: The formulation and implementation of monetary policy is an independent matter for the European Central Bank (ECB). As the Deputy is aware, the ECB has increased official interest rates over recent months as it attempts to combat inflation.  The level of official interest rates will influence the overall level of interest rates throughout the economy.  However, the...

Written Answers — Department of Finance: Banking Sector (18 Apr 2023)

Michael McGrath: The Central Bank has advised me that Mars Capital Ireland no. 2 DAC was first authorised by the Central Bank on 14 April 2022. Mars Capital Ireland no. 2 DAC held a transitional authorisation as a credit servicing firm from 21 April 2019 until it was granted full authorisation on 14 April 2022. It is worth noting that it may be the case that a firm held legal title to credit prior...

Written Answers — Department of Finance: Interest Rates (18 Apr 2023)

Michael McGrath: The formulation and implementation of monetary policy is an independent matter for the European Central Bank (ECB). As the Deputy is aware, the ECB has increased official interest rates over recent months as it attempts to combat inflation.  The level of official interest rates will influence the overall level of interest rates throughout the economy.  However, the...

Written Answers — Department of Finance: Interest Rates (18 Apr 2023)

Michael McGrath: I propose to take Questions Nos. 425, 426 and 427 together. The formulation and implementation of monetary policy is an independent matter for the European Central Bank (ECB). As the Deputy is aware, the ECB has increased official interest rates over recent months as it attempts to combat inflation.  The level of official interest rates will influence the overall level of interest...

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

Michael McGrath: To 31 December 2022, HBFI has approved 99 facilities across 21 counties.  HBFI publishes regular updates on its funding to date on its website at www.hbfi.ie/data-protection-notice/about-hbfi/hbfi-data A summary of number of facilities approved by county, including by tenure, is provided below: Location of Approved Units PRS Part V Social & ...

Written Answers — Department of Finance: Legislative Measures (19 Apr 2023)

Michael McGrath: The strengthening of borrowers’ rights across the EU is one of the key purposes of the Credit Services Directive. The Credit Servicers Directive deals with the secondary market for non-performing loans. It lays down a common EU framework for the transfer and management of bank-originated non-performing loans which are transferred or sold after 29 December 2023. It provides for an...

Written Answers — Department of Finance: Disability Services (19 Apr 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 Rebates (19 Apr 2023)

Michael McGrath: For donations to charities or “approved bodies” (such as certain educational institutions) and for donations to an approved sports bodies for funding of an approved project, in both cases the minimum donation which attracts tax relief is €250; the tax relief on either type of donation cannot exceed the amount of income tax paid by the donor; and where the taxpayer has...

Written Answers — Department of Finance: Lobbying Reform (20 Apr 2023)

Michael McGrath: The Programme for Government contains a commitment to "extend the lobbying register so that the lobbying of senior officials in bodies such as the Central Bank of Ireland, Comreg, the NTA and the HSE which have significant policymaking or development functions will need to be reported on the same basis as central and local government." The intention is that this commitment will be...