Results 26,701-26,720 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Credits (12 Dec 2023)

Michael McGrath: The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. I am advised by Revenue that the Rent Tax Credit statistics currently available refer only to claims by PAYE taxpayers. Data on claims by self-assessed...

Written Answers — Department of Finance: Tax Data (12 Dec 2023)

Michael McGrath: I am advised by Revenue that the figures requested cannot be provided within the timeframe for responding to this question. However, I understand that Revenue will supply any relevant data to the Deputy once available.

Written Answers — Department of Finance: Tax Appeals Commission (12 Dec 2023)

Michael McGrath: I propose to take Questions Nos. 262 and 263 together. I am advised by Revenue that the figures requested in respect of tax collected cannot be provided within the timeframe for responding to this question. However, I understand that Revenue will supply any relevant data to the Deputy once available. I am informed by the Tax Appeals Commission (TAC) that it does not separately record the...

Written Answers — Department of Finance: Tax Yield (12 Dec 2023)

Michael McGrath: I am advised by Revenue that information in relation to a wide range of potential changes to tax and duty rates is set out in the Ready Reckoner provided on the Revenue website at the following link: www.revenue.ie/en/corporate/information-about-revenue/statis tics/ready-reckoner/index.aspx. The Ready Reckoner includes, on page 25, estimates for the additional yield from changes in duties on...

Written Answers — Department of Finance: Departmental Data (12 Dec 2023)

Michael McGrath: I am advised by Revenue that the number of category A vehicles registered for Vehicle Registration Tax (VRT) with an open market selling price (OMSP) across each of the price ranges requested for 2022 and to 31October 2023 are provided in the table below. “Category A” includes cars and minibuses with a passenger capacity of not more than 8 persons. OMSP range...

Written Answers — Department of Finance: Tax Exemptions (12 Dec 2023)

Michael McGrath: As the Deputy is aware, Vacant Homes Tax (VHT) is provided for in Part 22B of the Taxes Consolidation Act 1997 (TCA). It aims to increase the supply of homes for rent or purchase to meet demand. A residential property will be within the scope of the new tax if it has been occupied as a dwelling for less than 30 days in a chargeable period. Each chargeable period will commence on 1 November...

Written Answers — Department of Finance: Vehicle Registration Tax (13 Dec 2023)

Michael McGrath: Statutory Instrument (S.I.) No. 318 of 1992, Vehicle Registration and Taxation Regulations (as amended by S.I. No. 542 of 2012) prescribes the format, lettering, dimensions, and technical specifications of registration plates that must be displayed on all vehicles used on public roads. Section 131(6), Finance Act 1992 provides that the registration number must be displayed in the format...

Written Answers — Department of Finance: Tax Code (13 Dec 2023)

Michael McGrath: I propose to take Questions Nos. 60 to 62, inclusive, together. Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the Employment Wage Subsidy Scheme (EWSS), which was an economy-wide enterprise support provided to eligible businesses in respect of eligible employees. The administration of the EWSS was placed under the care and management of...

Written Answers — Department of Finance: Tax Yield (13 Dec 2023)

Michael McGrath: I am advised by Revenue that the relevant excise duty rates on fuel and electricity are published on the Revenue website at: www.revenue.ie/en/tax-professionals/tdm/excise/excise-duty-r ates/energy-excise-duty-rates.pdf I am also advised by Revenue that a breakdown of excise receipts for 2022 and prior years is available on the Revenue website at...

Written Answers — Department of Finance: Tax Reliefs (13 Dec 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 provisions relating to taxation of electricity are transposed into national legislation in Chapter 1 of Part 2 of the Finance Act 2008 (as amended). This legislation provides for the application of an excise duty, in...

Written Answers — Department of Finance: Tax Data (13 Dec 2023)

Michael McGrath: I am advised by Revenue that the estimated first and full year costs of reducing the VAT inclusive price of a pint of beer (568ml) with an average alcohol content of 4.2% and a glass of wine (125ml) by 15 cents from 1 February 2024 is shown in the below table. Period Beer €m Wine €m First Year 105 87 ...

Written Answers — Department of Finance: Tax Reliefs (13 Dec 2023)

Michael McGrath: 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 accordance with the EU VAT Directive, farmers can elect whether or not to register for VAT in respect of their farming business, and this affects how VAT incurred on their inputs (such as the purchase or construction of slatted sheds) is treated. Farmers who...

Written Answers — Department of Finance: Tax Code (13 Dec 2023)

Michael McGrath: I am advised by Revenue that, by virtue of sections 70 and 71 Taxes Consolidation Act 1997 (TCA) foreign rental income is taxable in Ireland under what is called Case III of Schedule D. Section 71(4) TCA provides that the computation rules for Irish rental income also apply to foreign rental income. The rules for computing rental profits or gains are set out in section 97 TCA, which...

Written Answers — Department of Finance: Primary Medical Certificates (13 Dec 2023)

Michael McGrath: As the Deputy may be aware, the final report of the National Disability Inclusion Strategy (NDIS) Transport Working Group's (TWG) review of mobility and transport supports which included the Disabled Drivers and Disabled Passengers Scheme (DDS), endorsed proposals for a modern, fit-for-purpose vehicle adaptation scheme in line with international best practice that would replace the DDS, as...

Written Answers — Department of Finance: Tax Appeals Commission (13 Dec 2023)

Michael McGrath: I am advised by Revenue that each application for exemption or relief from Vehicle Registration Tax (VRT) under the Vehicle Registration Tax (Permanent Reliefs) Regulations 1993 is considered on a case-by-case basis. Such applications may, where appropriate, include the consideration of ‘normal residence’ criteria as defined in the Regulations. A taxpayer has the right to...

Written Answers — Department of Finance: Interest Rates (13 Dec 2023)

Michael McGrath: As Minister for Finance, I do not have a role in the setting of deposit rates in any bank, even one in which the State has a shareholding. Decisions in this regard are the sole responsibility of the board and management of the banks, which must be run on an independent and commercial basis. The independence of banks in which the State has a shareholding is protected by Relationship...

Written Answers — Department of Finance: Tax Reliefs (13 Dec 2023)

Michael McGrath: The VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive, farmers can elect whether or not to register for VAT in respect of their farming business, and this affects how VAT incurred on their inputs (such as the purchase of bulk milk tanks) is treated. I understand that Farmers who elect to register for...

Written Answers — Department of Finance: Financial Services (13 Dec 2023)

Michael McGrath: As Minister for Finance I cannot comment on individual credit cases or particular arrangements that may be agreed between a borrower and a Central Bank regulated entity in order to address a specific repayment difficulty. However, there is a robust consumer protection framework in place in relation to credit agreements. This framework provides the same protections for borrowers,...

Written Answers — Department of Finance: Appointments to State Boards (14 Dec 2023)

Michael McGrath: I am taking ‘independent capacity’ to refer to serving public servants not appointed to a State board in an ex-officio capacity. The State Boards under the aegis of my Department have advised as follows: The following members were serving on the Central Bank Commission in an independent capacity as follows: Blanaid Clarke - 1 October 2010 to 30 September 2018 John Fitzgerald...

Written Answers — Department of Finance: Tax Rebates (14 Dec 2023)

Michael McGrath: Section 118(5G) of the Taxes Consolidation Act 1997 provides for the Cycle to Work scheme. This scheme, introduced in 2009, offers an exemption from benefit-in-kind (BIK) where an employer purchases a bicycle and/or associated safety equipment for one of their employees (or directors) to use, in whole or in part, to travel to work. The scheme operates on a self-administration basis. Relief is...