Results 7,901-7,920 of 9,184 for speaker:Jack Chambers

Written Answers — Department of Finance: Tax Code (4 Jul 2024)

Jack Chambers: As has been stated on numerous occasions, this Government is committed to the reform of the TV licence. A long-term funding is model is needed, to deliver effective reform and ensure that a secure, sustainable funding model is put in place for our public service media. Government is committed to the introduction of a new sustainable and fair funding model during its term of office....

Written Answers — Department of Finance: Tax Credits (4 Jul 2024)

Jack Chambers: Section 865 of the Taxes Consolidation Act 1997 (TCA) provides a general right to repayment of tax where a person has paid tax which is not due. Section 865(4) TCA provides that the right to repayment is subject to making a claim within a statutory limit of four years after the end of the chargeable period to which the claim relates. That limit is binding on Revenue as well as on taxpayers....

Written Answers — Department of Finance: Fiscal Policy (4 Jul 2024)

Jack Chambers: The purpose of the Future Ireland Fund (the Fund) will be to support, expenditure by the State in a consistent and sustainable manner from 2041 onwards. The policy and practical challenges on the horizon are also significant and the Fund will not in itself replace the need for other policy measures. However, the establishment of the Fund represents a responsible approach to the use of...

Written Answers — Department of Finance: Tax Code (4 Jul 2024)

Jack Chambers: The Help to Buy Scheme was introduced in 2017 with the purpose of assisting first-time buyers with the deposit required to purchase or self-build a new house or apartment to live in as their home. The relief is only available in respect of new builds, with a view to increasing the supply of new housing and stimulating demand. The scheme has been a significant support for first time buyers...

Written Answers — Department of Finance: Tax Data (4 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 90 and 104 together. The latest Exchequer returns show a largely positive picture of the public finances. Overall tax revenues at the end of June amounted to a total of €44.7 billion, that is ahead of last year by 9.3 per cent, and 3.4 per cent ahead of my Department's published profile. The ongoing resilience of our economy is reflected in...

Written Answers — Department of Finance: Tax Reliefs (4 Jul 2024)

Jack Chambers: Mortgage Interest Tax Relief is a one-year temporary relief, which is 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. The relief also extends to a qualifying property located in the State, which is the sole or main residence of the...

Written Answers — Department of Finance: Tax Code (4 Jul 2024)

Jack Chambers: Finance Act 2022 removed the difference in treatment of PRSAs and occupational pension schemes for funding purposes, by abolishing the BIK charge on employer contributions to an employee’s PRSA, and not counting employer contributions to an employee’s PRSA towards that employee’s age related and salary percentage limits on tax deductible contributions. Prior to the...

Written Answers — Department of Finance: Tax Reliefs (4 Jul 2024)

Jack Chambers: The Deputy will be aware that there are specific provisions within the film tax credit to reinforce the requirement to adhere to employment rights legislation. As part of the cultural certification process, an applicant company is required to submit an undertaking of compliance with all relevant employment legislation in relation to the film being certified. These conditions are to be met...

Written Answers — Department of Finance: Fiscal Policy (4 Jul 2024)

Jack Chambers: The Ireland Strategic Investment Fund (ISIF) constructs its portfolio within the legislative framework set for it by the Oireachtas and will align it with any changes it makes. The Private Members Illegal Israeli Settlements Divestment Bill 2023 is currently making its way through the legislative process. ISIF as part of the NTMA is engaged on an ongoing basis with the Department in...

Written Answers — Department of Finance: Insurance Industry (4 Jul 2024)

Jack Chambers: The Government remains committed to addressing the issue of high cost of insurance, including for public liability cover, through the efforts of the Office for the Promotion of Competition in the Insurance Market, a key element of the Action Plan for Insurance Reform. Established as a Programme for Government commitment and overseen by the Minister of State at the Department of Finance, the...

Written Answers — Department of Finance: Tax Credits (4 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 97, 103, 105 and 115 together. The Rent Tax Credit (RTC), 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. For the tax years 2022 and 2023, the maximum value of the credit is €1,000 per...

Written Answers — Department of Finance: Tax Credits (4 Jul 2024)

Jack Chambers: I am aware of the review published by the Oireachtas Committee on Budgetary Oversight following its examination of the section 481 film tax credit, and of the recommendations made therein. I am also aware of the progress made on a number of the recommendations, such as the convening of a stakeholder forum and the increase in the cap on eligible expenditure to €125 million. In...

Written Answers — Department of Finance: Tax Code (4 Jul 2024)

Jack Chambers: The tax treatment associated with cross-border working has been subject to ongoing discussions in recent years, particularly given the increase in remote working as a result of the Covid-19 pandemic. However, cross-border working gives rise to complex issues involving shared taxing rights between different jurisdictions. It should be noted that workers who reside in Northern Ireland and...

Written Answers — Department of Finance: Fiscal Policy (4 Jul 2024)

Jack Chambers: My Department’s mission is to lead in the achievement of the Government’s economic, fiscal and financial policy goals, having regard to the goals set out in the Programme for Government – Our Shared Future. In pursuing this mission, for the period 2023-2025 my Department is working towards achieving the following Strategic Goals: - Balanced, sustainable economic...

Written Answers — Department of Finance: Tax Code (4 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 101 and 116 together. The Deputies should be aware that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme (DDS) is no longer fit-for-purpose and believe it should be replaced with a needs-based, grant-led approach for necessary vehicle adaptations that could serve to improve the functional mobility of the...

Written Answers — Department of Finance: Banking Sector (4 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 102, 114 and 119 together. The Department of Finance's Retail Banking Review, published in November 2022, concluded that cash, despite a decline in its usage, remains an important element of the payments system and the broader economy and it is essential that cash remains readily available to customers through ATMs and other means across the country. The...

Written Answers — Department of Finance: Official Engagements (4 Jul 2024)

Jack Chambers: The Deputy will appreciate that I am answering this question on behalf of the former Minister for Finance, Michael McGrath. On Thursday 20th June, Minister McGrath travelled to Luxembourg to represent Ireland at the June ECOFIN and Eurogroup meetings. The meetings started with the Annual Meeting of the Board of Governors of the European Stability Mechanism (ESM) - Minister McGrath...

Written Answers — Department of Finance: Tax Code (4 Jul 2024)

Jack Chambers: The Government is 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 businesses, the Government provided for temporary cuts in excise rates which, inclusive of VAT amounted to 21 cents, 16 cents and 5.4 cents per litre on petrol, auto-diesel and marked gas...

Written Answers — Department of Finance: Tax Code (4 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 109 and 121 together. The Deputy should note at the outset 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 each farmer’s decision on this matter affects...

Written Answers — Department of Finance: Tax Code (4 Jul 2024)

Jack Chambers: The Local Property Tax (LPT) was introduced in 2013 to provide a stable and sustainable funding base for local authorities and is a significant base-broadening measure. LPT has yielded over €5 billion since its introduction, with a yield of over €550 million for 2023. LPT broadens the tax base and reduces the level of central funding required by local government, freeing up...