Results 27,421-27,440 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Exemptions (16 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 228, 229, 233 and 236 to 239, inclusive, together. As the Deputies will be aware, the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under our legislation the provision of medical care services by recognised medical professionals are exempt from VAT. This includes health professionals...

Written Answers — Department of Finance: Tax Code (16 Apr 2024)

Michael McGrath: At the outset, the Deputy should note that both I and the Government are conscious of the implications of fuel costs for all sectors of society. This is reflected in the fact that in 2022 in light of the acute impact rising prices were having on households and business, the Government provided for excise rate reductions in the order of 21, 16 and 5.4 cent per litre on petrol, auto diesel...

Written Answers — Department of Finance: Currency Circulation (16 Apr 2024)

Michael McGrath: Where a business places no restrictions on the means of payment it is prepared to accept, it must accept cash as legal tender when offered by a customer to settle a debt that has arisen. If a business specifies payment must be in a form other than cash, the customer cannot subsequently claim a legal right to pay in cash. This can be achieved by, for example, placing a sign stating,...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Apr 2024)

Michael McGrath: The Tax Debt Warehousing scheme has provided vital and practical liquidity support to businesses by assisting them with their cash-flow during difficult trading periods. The Scheme allowed businesses to temporarily defer VAT and Employer PAYE, certain self-assessed income tax liabilities, and Temporary Wage Subsidy Scheme and Employment Wage Subsidy Scheme overpayments on an interest-free...

Written Answers — Department of Finance: Departmental Reports (16 Apr 2024)

Michael McGrath: As the Deputy is aware the Housing for All Investment Workstream, chaired by the Department of Finance, was established to support the delivery of the Government's Housing for All plan. A key commitment of the Investment Workstream has been to advance the understanding of the funding landscape for the residential development. In 2023, the Department published a comprehensive report on the...

Written Answers — Department of Finance: Departmental Reviews (16 Apr 2024)

Michael McGrath: As the Deputy is aware, in July 2023, I announced an extension to the Ireland Strategic Investment Fund (ISIF) funding programme to deliver new homes, with a new €400 million allocation for equity-based investments in new housing projects. This allocation builds on ISIF’s existing housing related commitments of €1.2 billion which has supported the delivery of 11,250...

Written Answers — Department of Finance: Financial Irregularities (17 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 13 to 15, inclusive, together. As regards the letter referenced by the Deputy I understand that, in the time available, a review of my private office’s correspondence system and a Department wide request for sections to review correspondence received has not sourced a copy of the letter referenced in Parliamentary Question 16800/24. I also...

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

Michael McGrath: I propose to take Questions Nos. 16 to 19, inclusive, and 22 together. As the Deputies will be aware, the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under our legislation the provision of medical care services by recognised medical professionals are exempt from VAT. This includes health professionals registered...

Written Answers — Department of Finance: Tax Yield (17 Apr 2024)

Michael McGrath: I am advised by Revenue that the additional revenue associated with the removal of the existing employer’s PRSI exemption, that may apply to share-based remuneration schemes operated by employers, is now estimated to be in the region of €235 million for all employers. This latest estimate is based on 2022 data, being the most recent year in respect of which Revenue has full data...

Written Answers — Department of Finance: Tax Yield (17 Apr 2024)

Michael McGrath: I am advised by Revenue that increases to the rate of Mineral Oil Tax (MOT) on marked gas oil in 2024 are scheduled for 1 April, 1 May and 1 August 2024. The following table sets out the estimated yield from these increases. This yield will not accrue if these increases do not proceed as scheduled. Date of Increase MOT €m VAT €m Total €m...

Written Answers — Department of Finance: Fuel Oil Specifications (17 Apr 2024)

Michael McGrath: As the Deputy will be aware, while taxation contributes to the final retail cost of fuels, there are a number of factors affecting the final retail price including international energy market dynamics, exchange rate fluctuations, wholesale contracts, transport costs and individual retail pricing policy. Excise law provides that the excise duty rate which applies to a fuel depends on the...

Written Answers — Department of Finance: Tax Collection (17 Apr 2024)

Michael McGrath: I am advised that Revenue is precluded under Section 851A of the Taxes Consolidation Act 1997 from commenting on the tax affairs of an individual, person, organisation or other legal entity. Revenue is, therefore, unable to provide information on the tax affairs of the organisation the Deputy’s question refers to or provide information on any tax settlements that might have been...

Written Answers — Department of Finance: Tax Code (18 Apr 2024)

Michael McGrath: I am advised by Revenue that the standard rates of stamp duty applying on the purchase of residential property are 1% on values up to €1 million and 2% on values exceeding €1 million. Section 31E of the Stamp Duties Consolidation Act (SDCA) 1999 provides for a higher 10% rate of stamp duty to be charged on the acquisition of residential properties situated in the State,...

Written Answers — Department of Finance: Tax Exemptions (18 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 150 to 152, inclusive, and 158 together. As the Deputies will be aware, the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under our legislation the provision of medical care services by recognised medical professionals are exempt from VAT. This includes health professionals registered...

Written Answers — Department of Finance: Illicit Trade (18 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 153 to 155, inclusive, together. I am advised that Revenue is committed to targeting the illegal importation and exportation of prohibited and restricted goods and implements a range of measures to identify and target illegal smuggling, including duty free tobacco and alcohol in excess of duty-free allowances, and where possible, prosecuting those involved....

Written Answers — Department of Finance: Probate Applications (18 Apr 2024)

Michael McGrath: I thank the Deputy for his question. By way of background, "nomination" is a legally binding agreement under which a credit union member can nominate a third party to be the recipient of the member’s money after their death, up to a limit of €27,000. The effects of nomination are that any amounts up to €27,000 will pass outside the terms of any will. Nomination is a...

Written Answers — Department of Finance: Tax Reliefs (18 Apr 2024)

Michael McGrath: I understand the Deputy’s office have confirmed that this Parliamentary Question relates the Cycle to Work Scheme and a proposal to expand the scheme to include a Bike-to-School provision. Section 118(5G) of the Taxes Consolidation Act 1997 (TCA) provides for the Cycle to Work Scheme. This scheme offers an exemption from benefit-in-kind (BIK) where an employer purchases a bicycle...

Written Answers — Department of Finance: Motor Industry (23 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 190 to 192, inclusive, together. I am informed by Revenue that, as permitted by the legislation on Vehicle Registration Tax, certain services concerning vehicle registration are carried out on Revenue’s behalf by an external service provider(ESP). This work is undertaken by the ESP as part of its contract to provide a wide range of vehicle-related...

Written Answers — Department of Finance: Vehicle Registration Tax (23 Apr 2024)

Michael McGrath: Statutory Instrument (S.I.) No. 318 of 1992, Vehicle Registration and Taxation Regulations (as amended by S.I. 542 of 2012) prescribes the format, lettering, dimensions and technical specifications of vehicle registration plates that must be displayed on all vehicles used on public roads. Under the regulations, the Irish language name prescribed for Dublin is Baile Átha Cliath. The...

Written Answers — Department of Finance: Vacant Properties (23 Apr 2024)

Michael McGrath: The Vacant Homes Tax (VHT) as announced in Budget 2023, aims to increase the supply of homes for rent or purchase to meet demand. Legislative provision for the tax was made in the Finance Act 2022 and states that a residential property will be within the scope of VHT, if it has been occupied as a dwelling for less than 30 days in a chargeable period. VHT operates on a self-assessment...