Results 25,461-25,480 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Code (28 Jun 2023)

Michael McGrath: Officials from the Department of Finance continue to monitor developments in the vehicle taxation area. New proposals are considered and current vehicle tax policies are kept under review as part of the Tax Strategy Group and Budgetary cycle. Going forward, it is possible that vehicle taxes may shift to weight-based in order to protect the vehicle tax base. Future options or proposals for...

Written Answers — Department of Finance: Departmental Consultations (29 Jun 2023)

Michael McGrath: I wish to advise the Deputy that the following payments were made to date in 2023. Consultancy Firms Name Services Rendered Amount (ex VAT) KPMG Home Building Finance Ireland (HBFI) MEOP Report €30,000.00 Premier Irish translation Legal Linguistic Proofing ref MICA €6,115.98 ...

Written Answers — Department of Finance: Charitable and Voluntary Organisations (29 Jun 2023)

Michael McGrath: I am informed by Revenue as follows. The Taxes Consolidation Act (TCA) provides for income tax exemptions for charities and sports bodies subject to certain conditions. Where a body is eligible for one of these exemptions, they may also be eligible for exemptions from other taxes. If a non-profit body does not have the charitable tax exemption it may be liable to tax on income, gains or...

Written Answers — Department of Finance: National Treasury Management Agency (29 Jun 2023)

Michael McGrath: I am advised by the National Treasury Management Agency (NTMA), that the NTMA constantly reviews rates, to ensure that products remain competitive in the savings market generally, whilst providing good value to the Exchequer in terms of borrowing costs. In setting the rates the NTMA is conscious and appreciative of the loyalty of State Savings customers and the importance of an appropriate...

Written Answers — Department of Finance: Departmental Expenditure (29 Jun 2023)

Michael McGrath: My Department is committed to a supportive and inclusive working environment for all staff and in conjunction with organisations across the Civil and Public service participated in Pride 2023 under the banner of ‘Proud to Work for Ireland’. The Department’s participation was coordinated by a voluntary staff Network which aims to support LGBT+ colleagues. The FinPER...

Written Answers — Department of Finance: Banking Sector (29 Jun 2023)

Michael McGrath: The sale of the benefits and rights a bank or other creditor may have under a credit agreement is a commercial matter for the particular creditor and, as Minister for Finance, I do not have a role to play in such commercial decisions by banks or other creditors. However, it should be note that any such sale or assignment of a creditor's rights does not change the terms and conditions of...

Written Answers — Department of Finance: Departmental Policies (29 Jun 2023)

Michael McGrath: Since the formation of the Government on 27 June 2020 the Department of Finance has delivered a number of policy achievements which include; - Budget 2021, 22 and 23. The unforeseen challenges of Ukraine, the ongoing recovery from the pandemic and the continuing fallout from Brexit were addressed from a position of strength with record levels of employment and a record budget surplus in 2022....

Written Answers — Department of Finance: Business Regulation (29 Jun 2023)

Michael McGrath: As the Deputy is aware, following the Communication Regulation (Amendment) Act 2007, the regulations regarding the registration of an Irish web domain address are determined by the Commission for Communications Regulation or ComReg. ComReg is the statutory body responsible for the regulation of the electronic communications sector (telecommunications, radio communications, broadcasting...

Written Answers — Department of Finance: Departmental Funding (29 Jun 2023)

Michael McGrath: It was not possible for my Department and a number of the bodies under the aegis of my Department to provide the information sought in the time available. These bodies are the Central Bank of Ireland, Financial Services & Pensions Ombudsman and the National Treasury Management Agency. I will, therefore, make arrangements to provide the information to the Deputy in due course. The...

Written Answers — Department of Finance: Insurance Industry (4 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 220 and 229 together. I note that both questions relate to a sensitive issue regarding access to travel insurance for individuals, including children, with congenital heart defects. As the Deputies will appreciate, neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, nor can we compel any insurer...

Written Answers — Department of Finance: Departmental Priorities (4 Jul 2023)

Michael McGrath: This response presumes the reference to financial fraud is fraud that occurs through Payment Service Providers (PSPs). Payment services in Ireland are regulated by the Payment Services Directive(PSD2), which was transposed in Ireland as the European Union (Payment Services) Regulations 2018 (S.I. No. 6 of 2018). The Payment Services Regulations provide for refunds in the case of an...

Written Answers — Department of Finance: Tax Reliefs (4 Jul 2023)

Michael McGrath: I am advised by Revenue that the total amount of Value-Added Tax (VAT) refunded on touring coaches through the VAT-71 scheme in 2021 and 2022 is provided in the table below. These figures included all VAT refunds made under this scheme. It should be noted that the majority of buses registered in the VRT system in each of these years are diesel powered, with a very small number powered by...

Written Answers — Department of Finance: Tax Reliefs (4 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 223 and 224 together. I am advised by Revenue that the VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the Directive provides that all goods and services are liable to VAT at the standard rate unless they are exempt from VAT or fall within Annex III of the Directive, in respect of which...

Written Answers — Department of Finance: Tax Code (4 Jul 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. Correspondence and meeting requests from any organisation in relation to Budget decisions are considered in the context of normal pre-Budget process. As the...

Written Answers — Department of Finance: Departmental Funding (4 Jul 2023)

Michael McGrath: I wish to advise the Deputy that my Department did not provide any grants, grand-aid, low cost borrowing or funding to the association referred to by the Deputy.

Written Answers — Department of Finance: Tax Code (4 Jul 2023)

Michael McGrath: Ireland’s taxation of fuel is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). ETD provisions covering liquid fuels are transposed into national law in Finance Act 1999 (as amended). Finance Act 1999 provides for the application of excise duty, in the form of Mineral Oil Tax (MOT), to specified mineral oils, such as...

Written Answers — Department of Finance: Tax Code (4 Jul 2023)

Michael McGrath: On 6 April 2023, I published the Terms of Reference for a review of Ireland’s funds sector and produce a report ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’. This review will look at a range of issues relevant to the funds sector including taxation in line with the recommendations of the Commission on Taxation and Welfare 2022 report,...

Written Answers — Department of Finance: Rental Sector (4 Jul 2023)

Michael McGrath: I am advised by Revenue that the changes made in Finance Act 2022 to the obligations of tenants and collection agents of non-resident landlords are intended to reduce the administrative burden on both tenants and collection agents and to simplify the process to comply with their tax obligations. It is also anticipated that the new system, which launched on 1 July 2023, should lead to better...

Written Answers — Department of Finance: Tax Reliefs (4 Jul 2023)

Michael McGrath: I acknowledge the cost pressures on parents with young children. In recognition of these pressures, a number of support measures are already in place to ease the burden on working parents. These include various tax-exempted financial supports provided by the Minister for Children, Equality, Disability, Integration and Youth to assist parents to offset the costs of early learning and childcare...

Written Answers — Department of Finance: State Savings Schemes (4 Jul 2023)

Michael McGrath: I am advised by the National Treasury Management Agency (NTMA) who manage State Savings, that when setting interest rates historically, the NTMA has sought to ensure that products remain competitive in the savings market generally, whilst providing good value to the Exchequer in terms of borrowing costs. The following table outlines the Historical State Savings Rates for the past 20 years...