Results 8,181-8,200 of 9,230 for speaker:Jack Chambers

Written Answers — Department of Finance: Tax Reliefs (9 Sep 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 Reliefs (9 Sep 2024)

Jack Chambers: Budget 2024 contained a suite of measures in the context of housing policy including the introduction of a new tax relief known as Residential Premises Rental Income Relief (RPRIR). RPRIR provides relief, at the standard rate, on a portion of a landlord’s residential rental income. The relief is €3,000 in the tax year 2024, €4,000 in the tax year 2025 and €5,000 in...

Written Answers — Department of Finance: Tax Code (9 Sep 2024)

Jack Chambers: The reduced VAT rate of 13.5% applies to the following energy products and supplies: - The supply of coal, peat and other solid substances offered for sale solely as fuel. - The supply of hydrocarbon oil of a kind used for domestic or industrial heating, excluding gas oil (within the meaning of section 94(1) of the Finance Act 1999), other than gas oil which has been duly marked in accordance...

Written Answers — Department of Finance: Tax Reliefs (9 Sep 2024)

Jack Chambers: 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: Tax Code (9 Sep 2024)

Jack Chambers: In relation to the tax advisory group I assume the Deputy is referring to the Commission on Taxation and Welfare. The Commission on Taxation and Welfare published their report 'Foundations for the Future: Report of the Commission on Taxation and Welfare' on 14 September 2022, it is available on www.gov.ie/en/publication/7fbeb-report-of-the-commission/. Chapter 7 of the report examines and...

Written Answers — Department of Finance: Tax Code (9 Sep 2024)

Jack Chambers: Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. The Group A threshold is currently set at...

Written Answers — Department of Finance: Tax Yield (9 Sep 2024)

Jack Chambers: The Revenue Commissioners publish data on a number of taxes on a per-county basis, available at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/receipts/receipts-county/geographical-breakdown-of-net- receipts.aspx The figures do not correspond precisely to Exchequer tax heads: for example, the Revenue data are only published on certain components of income tax whereas...

CJEU Judgment in Apple State Aid Case: Statements (18 Sep 2024)

Jack Chambers: Last week, the Court of Justice of the European Union delivered its judgment, the final milestone in what has been a long-running legal process, beginning in 2013 when the Commission began their investigation into a number of tax arrangements across the EU. I want to take this opportunity to outline the history of the case and reiterate the importance of taking this case, notwithstanding...

CJEU Judgment in Apple State Aid Case: Statements (18 Sep 2024)

Jack Chambers: As Deputies will be aware, in order to comply with the 2016 decision of the Commission, while the litigation process was ongoing, in 2018, the state aid identified by the Commission was placed by Apple into an escrow fund, with the proceeds to be released only when there had been a final determination in the European courts. A detailed confidential legal document, the escrow deed, was agreed...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I am happy to come back into my old brief. I know the wider ambition and focus within different regions on transport infrastructure and through the capital plans, which the Minister, Deputy Donohoe, has already agreed. Obviously, we are keen to advance some of them. We know there is further ambition to do more. The Minister, Deputy Ryan, published the all-island rail review, which is...

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I will have to set that out in the White Paper. I am not going to give the Deputy a false figure.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: Yes.

Committee on Budgetary Oversight: Pre-Budget Engagement (18 Sep 2024)

Jack Chambers: I was asked if I would, and I said I would not.

Written Answers — Department of Finance: Insurance Coverage (19 Sep 2024)

Jack Chambers: Firstly, it is important to clarify that neither I nor the Central Bank of Ireland have the authority to dictate insurance pricing or product offerings, as these are commercial decisions made by individual companies, governed by the EU Single Market framework for insurance (the Solvency II Directive), which prevents Government from intervening in pricing or provision of insurance products. ...

Written Answers — Department of Finance: Budget 2025 (19 Sep 2024)

Jack Chambers: In advance of the Budget, as Minister for Finance I receive a large number of pre-budget submissions on a wide range of issues. All submissions are acknowledged by my Department on receipt. I can confirm the pre-Budget submission to which the Deputy refers was received and an acknowledgment issued on Friday, 28 June 2024. The contents will be considered in the context of the forthcoming...

Written Answers — Department of Finance: Primary Medical Certificates (23 Jul 2024)

Jack Chambers: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme or 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 individual. However, this is very much a matter for Government as whilst...

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

Jack Chambers: I am advised by Revenue that the estimated yield that would be generated by increasing the rate of residential stamp duty from 1% to 2% for residential property of values between €700,000 and €1 million and increasing the rate of residential stamp duty from 2% to 5% for residential property of values above €1 million is published on page 18 of the Ready Reckoner,...

Written Answers — Department of Finance: Tax Credits (23 Jul 2024)

Jack Chambers: As the Deputy will be aware, the Programme for Government, “Our Shared Future”, states that “From Budget 2022 onwards, in the event that incomes are again rising as the economy recovers, credits and bands will be index linked to earnings. This will be done to prevent an increase in the real burden of income tax, to prevent more low income workers being taken into the tax...

Written Answers — Department of Finance: Financial Services (23 Jul 2024)

Jack Chambers: The CSO Register of Public Sector Bodies sets out the background and methodology applied to the classification of the general government sector. As set out in the Register, Microfinance Ireland (MFI) and the Strategic Banking Corporation of Ireland (SBCI) are classified as non-commercial entities within the general government sector. Therefore, the expenditure of these entities are included...

Written Answers — Department of Finance: International Programmes (23 Jul 2024)

Jack Chambers: As the Deputy will be aware, Ireland's most recent IMF Financial Sector Assessment Programme took place in 2022, resulting in 19 recommendations for the Irish authorities to take forward. An update on the implementation of the 2022 FSAP was most recently published in December 2023 as part of Ireland’s 2023 Article IV Consultation. The report can be found on the IMF website at the...