Results 8,541-8,560 of 9,274 for speaker:Jack Chambers

Written Answers — Department of Finance: Tobacco Control Measures (15 Oct 2024)

Jack Chambers: I am advised by Revenue that it uses a range of measures to tackle the sale of illicit cigarettes, including online sales. At the core of these measures is identifying and targeting the smuggling of illicit tobacco products into the State, with a view to disrupting the supply chain, seizing the products and, where possible, prosecuting those involved. Revenue’s strategy involves...

Written Answers — Department of Finance: Tax Data (15 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 205 to 212, inclusive, together. I am advised by Revenue that following the announcement of Budget 2025 on the 1st of October 2024, Revenue is in the process of updating their income tax estimates model to take account of these changes. Once finalised, Revenue will publish a revised Ready Reckoner, which will set out the costs and/or yields associated with...

Written Answers — Department of Finance: Tax Data (15 Oct 2024)

Jack Chambers: Revised Entrepreneur Relief is provided for in Section 597AA of the Taxes Consolidation Act 1997. It provides that a reduced rate of 10% of Capital Gains Tax (CGT) applies in respect of a chargeable gain or chargeable gains on a disposal or disposals of qualifying business assets by an individual up to a lifetime limit of €1 million. Any chargeable gain in excess of the €1...

Written Answers — Department of Finance: Tax Data (15 Oct 2024)

Jack Chambers: Section 128F of the Taxes Consolidation Act (“TCA”) 1997 provides for the Key Employee Engagement Programme ("KEEP”), which came into effect on 1 January 2018. The aim of the incentive is to support SMEs in Ireland in competing with larger enterprises to recruit and retain key employees, by way of a targeted share option programme. Where the provisions of section 128F TCA...

Written Answers — Department of Finance: Tax Credits (15 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 215 and 216 together. I am advised by Revenue that, membership of clubs, gyms etc. is not reported to it on any tax returns and, accordingly, Revenue does not have data from which to provide estimates of the cost of the proposed changes outlined by the Deputy.

Written Answers — Department of Finance: Tax Code (15 Oct 2024)

Jack Chambers: I am advised by Revenue that the estimated cost of a further €65,000 increase in Group A, a further €7,500 increase in Group B and a further €3750 increase in Group C thresholds post the enactment of measures announced in Budget 2025 is €74.1m per annum. A breakdown of this is shown in Table 1 below: Table 1: Breakdown of CAT Costing Category ...

Written Answers — Department of Finance: Tax Code (15 Oct 2024)

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

Written Answers — Department of Finance: Tax Credits (15 Oct 2024)

Jack Chambers: I am advised by Revenue that for 2023, the latest year for which fully analysed data are available, based on stamp duty returns for residential property purchases made by persons identifying themselves as first-time buyers, there were 19,417 such returns associated with 32,013 people. If an income tax credit of €1,000 for first-time buyers was made available on the basis of a single...

Written Answers — Department of Finance: Tax Credits (15 Oct 2024)

Jack Chambers: I am advised by Revenue that the table below sets out the estimated costs of the proposals outlined by the Deputy. These costs are done on a post-Budget 2025 basis (i.e. the additional over the levels of the relief as increased in Budget 2025). Proposed Credit Value in 2025 Estimated Additional Cost €m €1,250/€2,500 50 ...

Written Answers — Department of Finance: Tax Rebates (15 Oct 2024)

Jack Chambers: Auto-diesel is liable to excise duty in the form of Mineral Oil Tax (MOT). MOT comprises a carbon and a non-carbon component with respective rates currently €169.96 and €425.72 per 1,000 litres, giving a total MOT rate of €595.68 per 1,000 litres. The Deputy has asked about an excise rebate for the non-fossil component of diesel which I am taking to mean the biofuel...

Written Answers — Department of Finance: Tax Code (15 Oct 2024)

Jack Chambers: I am advised by Revenue that traders are not required to identify the VAT yield generated from the supply of specific goods and services on their VAT returns. Therefore, it is not possible to provide an accurate costing for the measure outlined.

Written Answers — Department of Finance: Tax Credits (15 Oct 2024)

Jack Chambers: Section 469 of the Taxes Consolidation Act 1997 provides for tax relief where an individual proves that he or she has incurred costs in respect of qualifying health expenses. Only "health expenses" incurred in the provision of “health care”, which has been carried out or advised by (in certain circumstances) a practitioner, will qualify for tax relief. Health care is defined...

Written Answers — Department of Finance: Tax Code (15 Oct 2024)

Jack Chambers: I am advised by Revenue that its Ready Reckoner for calculating the impact of potential changes in rates of taxation can be used to estimate the effect of changes to the Betting Duty rate by extrapolating from the information on page 26. The Ready Reckoner is available on the Revenue website at: . An update of the Ready Reckoner is due to be published by the 25th of October 2024. These...

Written Answers — Department of Finance: Tax Data (15 Oct 2024)

Jack Chambers: I understand that the Deputy’s question relates to cases where retired PAYE workers, who have recently sought a Statement of Liability (SOL) from Revenue, have been asked by Revenue to submit tax returns to finalise their tax position. I am advised by Revenue that a Preliminary End of Year Statement (PEOYS) is made available on myAccount to all PAYE employees, including retired...

Written Answers — Department of Finance: Departmental Strategies (15 Oct 2024)

Jack Chambers: In June 2023, the terms of reference for a National Payments Strategy (NPS) were published, and work on the NPS has commenced, taking account of the changing payment landscape and ongoing legislative developments at EU level, including proposals on instant payments, payment services, legal tender and the digital euro. Access to cash and acceptance of cash is also being examined as part of...

Written Answers — Department of Finance: Banking Sector (15 Oct 2024)

Jack Chambers: As the Deputy will be aware, the Central Bank of Ireland (CBI) as the financial regulator is independent in its operations. The CBI’s role as financial regulator extends to securities markets. In this regard it was designated as Ireland’s competent authority for the purposes of carrying out the functions of a competent authority referred to in the EU Prospectus Regulation...

Written Answers — Department of Finance: Official Engagements (15 Oct 2024)

Jack Chambers: There have been no international events or engagements since the formation of the Government where media attended as part of the Government delegation.

Written Answers — Department of Finance: Departmental Expenditure (15 Oct 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. I am advised by Revenue that the total cost of Help to Buy approved claims...

Written Answers — Department of Finance: Revenue Commissioners (15 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 235 and 236 together. On 20 October 2023, the Supreme Court, in a unanimous decision, delivered an important judgment on the key factors to be considered when classifying an individual’s employment status for income tax purposes. The detailed judgment was delivered by Mr. Justice Brian Murray in The Revenue Commissioners v. Karshan (Midlands) Ltd....

Written Answers — Department of Finance: Ukraine War (22 Oct 2024)

Jack Chambers: At the European Council meeting on 1 February 2024, the mid-term revision of the EU Budget Multi-annual Financial Framework 2021-2027 was approved by all 27 Member States. A key element of the mid-term revision is the introduction of the Ukraine Facility, comprising an EU support package of €50 billion for Ukraine, which will be provided in the form of loans (with a maximum amount...