Results 8,501-8,520 of 9,274 for speaker:Jack Chambers

Finance Bill 2024: Second Stage (16 Oct 2024)

Jack Chambers: I move: "That the Bill be now read a Second Time." We are here to begin our consideration of the Finance Bill, which will give the necessary legal basis to the decisions announced in the budget and make a number of other necessary updates to tax legislation. I will highlight some of the key measures contained in the Bill, but first it is useful to look at the context in which it is set....

Finance Bill 2024: Referral to Select Committee (16 Oct 2024)

Jack Chambers: I move: That the Bill be referred to the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach pursuant to Standing Orders 95(3)(a) and 181(1).

Written Answers — Department of Finance: Tax and Social Welfare Codes (17 Oct 2024)

Jack Chambers: Carer's Allowance is a means-tested payment for carers who look after individuals in need of care and attention on a full-time basis. The Carer's Allowance, in common with many other social welfare payments, is regarded as a taxable source of income. The level of tax payable, if any, on such income is then determined by the personal circumstances of the recipient, taking into account...

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

Jack Chambers: In general, plant-based drinks are subject to VAT at the standard rate, which is currently 23%. Finance Bill 2024 proposes an amendment to the legislation in this area in order to bring some additional clarity but, importantly, the amendment will not make any change to current taxation of any products. The Deputy is asking about the VAT rate for milk alternatives. Under VAT...

Written Answers — Department of Finance: Social Enterprise Sector (17 Oct 2024)

Jack Chambers: I wish to advise the Deputy that my Department did not make any payments to social enterprise organisations or bodies from1 January 2021 to date. In the interest of transparency I wish to inform the Deputy that the Department pays a membership to the Foundation of Fiscal Studies, a not for profit organisation, of €5,000 annually.

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

Jack Chambers: Following clarification from the Deputy, the tax treatment of ex-gratia lump sum payments is set out below. A taxpayer might receive a lump sum payment as part of a redundancy. A liability to tax arises on the amount of the payment that exceeds either the: Basic Exemption and increased exemption, if due, or Standard Capital Superannuation Benefit (SCSB). The basic exemption is...

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

Jack Chambers: In general, Capital Gains Tax (CGT) is chargeable on a gain arising on the disposal of an asset, including a residential property, at the rate of 33%. The first €1,270 of chargeable gains of an individual in any year are exempt from CGT. Section 604, TCA 1997 provides relief from CGT on the disposal of one’s principal private residence (PPR), being a dwelling house together...

Written Answers — Department of Finance: Departmental Legal Cases (16 Oct 2024)

Jack Chambers: It is not possible to provide this information requested in the time available because the Minister for Finance is named as a party on a large number of proceedings which seek damages from the State, without being directly involved in the running of the litigation in circumstances where another Minister may take the leading role in respect of providing instructions on the issue. We do not...

Written Answers — Department of Finance: Data Protection (16 Oct 2024)

Jack Chambers: My Department documents any personal data breaches that have occurred in the Department in accordance with its obligations under Article 33(5) of the General Data Protection Regulation (GDPR). According to records in my Department, there were no data breaches on the part of the Department between 2013 and 2018. The table below provides the number of data breaches by year since the...

Written Answers — Department of Finance: Official Travel (16 Oct 2024)

Jack Chambers: 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.

Written Answers — Department of Finance: Departmental Expenditure (16 Oct 2024)

Jack Chambers: I wish to inform the Deputy that in the 10 years to date my Department has had only one public relations contract, with Daniel J. Edelman Ireland Limited. The duration of the contract was from August 2019 to January 2020. This contract was for the provision of specialist advice on using social media in overseas markets to promote Ireland for Finance. The value of this contract was...

Written Answers — Department of Finance: Departmental Consultations (16 Oct 2024)

Jack Chambers: The information requested by the Deputy in relation to the amount spent by my Department on advertising from 2014 to date in 2024 is set out in tabular form below. This information with a further break down is available at www.gov.ie/en/collection/ae6733-consultancy/. Year Total Cost Inc. VAT 2014 €1,757,595.00 2015 ...

Written Answers — Department of Finance: Departmental Advertising (16 Oct 2024)

Jack Chambers: The information requested by the Deputy in relation to the amount spent by my Department on advertising from 2014 to date in 2024 is set out in tabular form below which includes both traditional and online advertising. The Department is not in a position to demarcate online spend from other forms of expenditure, as some advertising will inevitably involve both. Year ...

Written Answers — Department of Finance: Tax Yield (16 Oct 2024)

Jack Chambers: I am informed by Revenue that traders are not required to separately identify the VAT from specific goods and services on their periodic VAT returns. Therefore, it is not possible to provide the VAT yield on all energy related products and services using taxpayer information alone. However, using Revenue data and third party sources, a tentative estimate of VAT received on energy bills is as...

Written Answers — Department of Finance: Tax Yield (16 Oct 2024)

Jack Chambers: I am advised by Revenue that the receipts collected in respect of Fuel Taxes in each of the past ten years up to 2023 are published on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/excise/receipts-volume-and-price/excise-receipts-commod ity.aspx. The provisional receipts for the year to September 2024 are shown in the following table: January...

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

Jack Chambers: The VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate, currently 23% in Ireland, unless they fall within categories of goods and services specified in Annex III of the Directive, in respect of which a Member State may decide apply a lower...

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

Jack Chambers: I note the issues raised in the correspondence shared by the Deputy, relating to tax treatment of Exchange Traded Funds, or ETFs, and individual savings accounts. Regarding both the tax treatment of ETFs and individual savings accounts, it will be of interest to the Deputy that my Department published the Terms of Reference for a review of Ireland’s funds sector - ‘Funds...

Written Answers — Department of Finance: Charitable and Voluntary Organisations (16 Oct 2024)

Jack Chambers: The general regulation of charities, including monitoring the activities of individual charities, is a matter for the Charities Regulator, an independent body set up under the Charities Act 2009, which was introduced to make provisions for the registration, regulation and protection of charitable organisations and trusts. All applications to register as a charity must be submitted to the...

Written Answers — Department of Finance: Tax Data (16 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 88 and 89 together. The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes which was introduced in Budget and Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. I am informed by Revenue that they are unable provide a costing for changes to the SFT. Information on the...

Written Answers — Department of Finance: Pension Provisions (16 Oct 2024)

Jack Chambers: I am advised by Revenue that the earliest at which an individual can take retirement benefits is usually age 60 years. However, the terms of a retirement benefit scheme or pension product may provide that an individual can retire and take benefits from age 50 years. This is provided for in section 772(3)(a) and (4)(b)(ii) Taxes Consolidation Act 1997 (TCA) for occupational pension schemes,...