Results 26,781-26,800 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Budget 2024 (17 Jan 2024)

Michael McGrath: As the Deputy is aware, I announced in my Budget 2024 speech the intention to introduce a domestic tax on e-cigarettes and vaping products as part of this year’s Budget. In light of public health interests, continuing delays to the revision of the Tobacco Products Tax EU Directive and the Programme for Government commitment to tax e-cigarettes and vapes, I instructed my officials...

Written Answers — Department of Finance: Primary Medical Certificates (17 Jan 2024)

Michael McGrath: Appeal hearings have recommenced since mid-December 2023. I appreciate that it has taken far longer than anticipated to get to this point. With the Department of Health we have had to run four Expression of Interest campaigns over 18 months to source the legislatively required five members. We have also had to re-negotiate new hosting arrangements with the NRH following their withdrawal of...

Written Answers — Department of Finance: Tax Exemptions (17 Jan 2024)

Michael McGrath: Persons who engage solely in agricultural production activities are not obliged to register for Value-Added Tax (VAT) and can participate in the Flat-RateFarmer's Scheme. This scheme is a simplification arrangement permitted under the EU VAT Directive, designed to reduce the administrative burden for farmers by allowing unregistered farmers to be compensated on an overall basis for VAT on...

Written Answers — Department of Finance: Tax Code (17 Jan 2024)

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

Written Answers — Department of Finance: Official Engagements (23 Jan 2024)

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 in December 2022, I have not had a bilateral meeting with Canada’s Deputy Prime Minister and...

Written Answers — Department of Finance: Tax Collection (23 Jan 2024)

Michael McGrath: I am advised by Revenue that its approach to enforcement of the law relating to Vehicle Registration Tax (VRT) is that in each instance where a failure to comply with the relevant legal requirements is detected, the matter is dealt with in a manner that is fair and proportionate in the circumstances of the particular case. Section 5.4.2 of the VRT Enforcement Manual gives examples of the...

Written Answers — Department of Finance: Tax Yield (23 Jan 2024)

Michael McGrath: I propose to take Questions Nos. 198, 199 and 200 together. Alcohol Products Tax (APT) is charged at the time the excisable product is released from a duty suspension facility for consumption in the State or, following release for consumption in another Member State, is then brought into Ireland. Taxpayers liable to APT are not obliged to disclose how these products are subsequently...

Written Answers — Department of Finance: Film Industry (23 Jan 2024)

Michael McGrath: The Committee on Budgetary Oversight Report on Section 481 – Film Tax Credit (May 2023) recommended that the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media (DTCAGSM) and the Department of Finance convene a stakeholder forum as a priority to discuss inter alia maximising the benefits of section 481 Taxes Consolidation Act (TCA) 1997 for all concerned stakeholders. ...

Written Answers — Department of Finance: Financial Irregularities (23 Jan 2024)

Michael McGrath: I propose to take Questions Nos. 202 and 203 together. In response to the findings of the ‘Cyprus Confidential’ report, the Government of the Republic of Cyprus has launched a probe into the investigation’s findings, in addition to its on-going work to establish an independent body to investigate financial crimes and sanctions evasion. Under the EU’s Fourth...

Written Answers — Department of Finance: Public Expenditure Policy (23 Jan 2024)

Michael McGrath: The NTMA have informed me that the Ireland Strategic Investment Fund (ISIF) portfolio is constructed within the legislative framework set for it by the Oireachtas.ISIF has a Sustainable & Responsible Investment Strategy (S&RIS) which reflects a commitment to be a responsible investor as steward of public assets by protecting and enhancing both the long-term value of the ISIF...

Written Answers — Department of Finance: Public Expenditure Policy (23 Jan 2024)

Michael McGrath: The NTMA has informed me that the Cluster Munitions and Antipersonnel Mines Act 2008 is legislation that effectively translated the Convention on Cluster Munitions and anti-personnel mines into Irish Law. Ireland was the first country to require divestment by law, however, this is now an industry standard. The Act prohibits the investment of “public moneys” into a company that...

Written Answers — Department of Finance: Public Expenditure Policy (23 Jan 2024)

Michael McGrath: A breakdown of non-voted expenditure for each year can be found in the Finance Accounts for the relevant year, specifically in Statements 1.4, 1.5, 1.6, and 1.10. The yearly Finance Accounts are available through my Department's website at the following address www.gov.ie/en/collection/1f1c3a-finance-accounts/ The 2023 Finance Accounts will be published in due course, after being audited...

Written Answers — Department of Finance: Tax Appeals Commission (23 Jan 2024)

Michael McGrath: As the Deputy will be aware, all motor vehicles in the State must be registered within 30 days of their date of entry at which point Vehicle Registration Tax (VRT) is charged. In the event that the person does not agree with Revenue’s decision, they have the right to appeal. The current VRT appeals procedure is provided for in sections 145 and 146 of the Finance Act 2001 as amended by...

Written Answers — Department of Finance: Tax Yield (23 Jan 2024)

Michael McGrath: As the Deputy will be aware the Budget 2024 publicationSummary of 2024 Budget Measures- Policy Changes(available on www.budget.gov.ie) includes an estimated full year yield of €152 million in respect of the carbon tax rate increase from €48.50 to €56.00. The Budget 2024 publication Economic and Fiscal Outlook (also available on www.budget.gov.ie) includes projections...

Written Answers — Department of Finance: Tax Reliefs (23 Jan 2024)

Michael McGrath: As the Deputy will be aware, Finance Act 2023 introduced the temporary one-year Mortgage Interest Tax Relief that I announced on Budget day. Mortgage Interest Tax Relief will be available to taxpayers in respect of their principal private residence in the State where the outstanding mortgage balance was between €80,000 and €500,000 as of 31 December 2022, and the taxpayer is...

Written Answers — Department of Finance: Tax Exemptions (23 Jan 2024)

Michael McGrath: The Finance Act 2023 provided for a number of amendments to DCPL. Firstly, and as I announced on 6 September 2023, ready to pour concrete used in the manufacture of precast concrete products was removed from the charge of the levy with effect from 1 January 2024. A precast concrete manufacturer is required to make a declaration to the ready to pour concrete supplier that the ready to pour...

Written Answers — Department of Finance: Insurance Coverage (23 Jan 2024)

Michael McGrath: As Minister for Finance, I am responsible for the development of the legal and policy framework governing financial regulation. Neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, nor can we compel any insurer operating in the Irish market to provide cover to specific individuals. This position is reinforced by the EU framework for...

Written Answers — Department of Finance: Tax Rebates (23 Jan 2024)

Michael McGrath: I am advised by Revenue that the record of the person concerned has been reviewed and updated and that they are now in receipt of their full allocation of tax credits and rate bands for 2024. An amended tax credit certificate for 2024, confirming their tax credits and rate bands, will issue shortly and an updated Revenue Payroll Notification has issued to the person’s employer...

Written Answers — Department of Finance: Official Travel (23 Jan 2024)

Michael McGrath: It was not possible for my Department to provide the information sought in the time available. I will, however, make arrangements to provide the information to the Deputy as soon as possible.