Results 8,581-8,600 of 9,274 for speaker:Jack Chambers

Written Answers — Department of Finance: Financial Services (22 Oct 2024)

Jack Chambers: The Central Bank regulates firms within its regulatory perimeter, and this has evolved over recent years as the financial services landscape evolves. Regulated firms may at times undertake both regulated and unregulated activities. The provision of unregulated products and services by regulated firms can result in customers not being aware of the nature of the product and service they...

Written Answers — Department of Finance: Public Sector Staff (22 Oct 2024)

Jack Chambers: I am advised by Revenue that there were 579 officers employed at the grade of Higher Executive Officer (HEO) in tax specialist roles in 2023. As of 18 October 2024, the number of HEOs employed in tax specialist roles was 551. This is set out in tabular form below: Grade 2023 2024 HEO (Tax Specialists*) 579 551 * ...

Written Answers — Department of Finance: Departmental Properties (22 Oct 2024)

Jack Chambers: I wish to advise the Deputy that my Department is provided with accommodation by the OPW and does not own any properties.

Written Answers — Department of Finance: Tax Yield (22 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 250 to 252, inclusive, and 255 together. I am advised by Revenue that the Excise Duty receipts collected in respect of Fuel Taxes in each of the past five years up to 2023 are published on the Revenue website at: . The provisional receipts for the year to September 2024 are shown in Table 1: Table 1 : Excise Duty Receipts: January – September...

Written Answers — Department of Finance: Official Engagements (22 Oct 2024)

Jack Chambers: No meeting has taken place with Fuels for Ireland since my appointment as Minister for Finance.

Written Answers — Department of Finance: Financial Services (22 Oct 2024)

Jack Chambers: The Financial Services and Pensions Ombudsman (FSPO) is an important part of the robust consumer protection framework in place in Ireland to support consumers of financial products and services. It is an independent and impartial statutory body that helps to resolve complaints from consumers, including small businesses and other organisations, about the conduct of regulated financial...

Written Answers — Department of Finance: Revenue Commissioners (22 Oct 2024)

Jack Chambers: I am advised by Revenue that the Criminal Justice (Surveillance) Act 2009 authorises a small number of public bodies, including Revenue, to undertake surveillance of persons, places or vehicles using surveillance devices. It provides that Revenue’s powers under the Act may be used in respect of a Revenue offence, that is an arrestable offence, under section 14 of the Customs Act...

Written Answers — Department of Finance: Tax Code (23 Oct 2024)

Jack Chambers: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a...

Written Answers — Department of Finance: Tax Code (23 Oct 2024)

Jack Chambers: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a...

Written Answers — Department of Finance: National Asset Management Agency (23 Oct 2024)

Jack Chambers: A breakdown of residential development land secured to NAMA’s remaining portfolio is provided in the table below. The table outlines housing units which are currently under construction, which will be completed in 2024/2025, before NAMA concludes at end-2025. The table also includes key residential development sites under asset management by NAMA, units with planning permission in...

Written Answers — Department of Finance: Illicit Trade (23 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: Insurance Coverage (23 Oct 2024)

Jack Chambers: As Minister for Finance, I have policy responsibility for the development of the legal framework governing financial services regulation, including for the insurance sector. In terms of the challenges associated with obtaining flood cover, please be aware that the provision of such cover is a commercial matter for insurance companies, based on an actuarial assessment of the risks they are...

Written Answers — Department of Finance: Tax Reliefs (23 Oct 2024)

Jack Chambers: Section 470 of the Taxes Consolidation Act 1997 provides for tax relief in relation to payments made to authorised insurers under relevant contracts in respect of medical insurance and dental insurance. Qualifying medical insurance policies can be for health insurance, dental insurance, or health and dental insurance combined. Tax relief for medical insurance premiums is provided at the...

Written Answers — Department of Finance: Insurance Industry (23 Oct 2024)

Jack Chambers: Transparency in the functioning of the insurance market remains a key Government focus and represents an important part of the ongoing insurance reform agenda. Accordingly, the introduction of the National Claims Information Database (NCID) within the Central Bank of Ireland (CBI) was a central step change in improving transparency, providing information and creating an evidence base for...

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

Jack Chambers: 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. I am informed by Revenue that 273,160 taxpayer units benefited from the RTC for 2022, as set out in Revenue’s ‘Cost of Tax...

Written Answers — Department of Finance: Tax Code (24 Oct 2024)

Jack Chambers: I am advised by Revenue that PAYE employees in receipt of taxable payments from the Department of Social Protection (DSP) have any tax due on those payments collected by reducing the individual’s tax credits and rate bands. The amount of the reduction is calculated with reference to payment amounts reported to Revenue by DSP. Revenue have confirmed that the income tax charged to...

Written Answers — Department of Finance: Insurance Industry (24 Oct 2024)

Jack Chambers: At the outset, it is important to state that neither I, as Minister for Finance, nor the Central Bank of Ireland can direct the pricing nor provision of insurance products. This is a commercial matter which individual companies assess on a case-by-case basis. This is due to the EU Single Market framework for insurance (the Solvency II Directive) which specifically prohibits Member States from...

Written Answers — Department of Finance: Tax Credits (24 Oct 2024)

Jack Chambers: Section 473B of the Taxes Consolidation Act (“TCA”) 1997 provides for the rent tax credit, which is, subject to a number of conditions, broadly available in the following three circumstances: 1. where the claimant makes a qualifying payment in respect of a residential property which he or she uses as his or her principal private residence, 2. where the claimant makes a...

Written Answers — Department of Finance: Tax Exemptions (24 Oct 2024)

Jack Chambers: On the introduction of the Local Property Tax (LPT), the Government decided that a liability to the tax should apply to all owners of residential properties with a limited number of exemptions. Limiting the exemptions available allows the rate to be kept low for those liable persons who do not qualify for an exemption. There is no specific exemption from the requirement to pay LPT for...

Written Answers — Department of Finance: Tax Data (24 Oct 2024)

Jack Chambers: At the end of every year, Revenue makes a Preliminary End of Year Statement available to employees. The Preliminary End of Year Statement sets out a provisional tax position, based on information available on Revenue records. It will show whether an employee has paid the correct amount of Income Tax and Universal Social Charge (USC) for the year. I am advised by Revenue that the final...