Results 1,981-2,000 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: EU Funding (24 Oct 2023)

Michael McGrath: Article 325 of the Treaty on the Functioning of the European Union states that fighting fraud and any other illegal activities affecting the financial interests of the EU is a common task for both the EU and the Member States. To support member states in the fight against fraud, the EU Anti-Fraud Programme provides funding in the form of grants and procurement, in particular for...

Written Answers — Department of Finance: State Bodies (24 Oct 2023)

Michael McGrath: Circular 25/2016 states that State Bodies under the aegis of Government Departments must provide and maintain a dedicated email address for Oireachtas members. The circular applies to all bar three of the bodies under the aegis of my Department. These three bodies are the Credit Union Advisory Committee (CUAC), the Disabled Drivers Medical Board of Appeal (DDMBA) and the Credit Union...

Written Answers — Department of Finance: Local Government Reform (24 Oct 2023)

Michael McGrath: I understand the question to refer to the transfer of ministerial functions to local authorities pursuant to section 72 of the Local Government Act 2001 as amended by the Local Government Reform Act 2014. There have been no transfers of functions of the Minister for Finance pursuant to that provision since 2014.

Written Answers — Department of Finance: Departmental Data (24 Oct 2023)

Michael McGrath: I propose to take Questions Nos. 202 to 204, inclusive, together. As with all tax receipts, corporation tax revenues are received into the Central Fund. Issues from the Central Fund are used to fund the day-to-day running of the State and as such it is not generally possible to directly link a specific tax head to specific expenditure. However, as the Deputy will be aware, in the Summer...

Written Answers — Department of Finance: Tax Code (24 Oct 2023)

Michael McGrath: The non-resident landlord withholding tax regime, referred to by the Deputy, whereby tenants deduct and remit to Revenue withholding tax at the standard rate of income tax (currently 20%) from rental payments to a landlord who lives outside the State, has been in operation for many years, however, some changes were introduced in last year’s Finance Act. The relevant legislation...

Written Answers — Department of Finance: Housing Policy (24 Oct 2023)

Michael McGrath: 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 of the Taxes Consolidation Act 1997 outlines the definitions and...

Written Answers — Department of Finance: National Vehicle and Driver File (19 Oct 2023)

Michael McGrath: Under the Finance Act 1992, Vehicle Registration Tax (VRT) is assessed on a vehicle at the time of its registration, and the way the tax is computed depends on the category of vehicle involved. VRT on Category A vehicles (generally passenger vehicles) is assessed based on the value of the vehicle and its emissions levels for carbon dioxide (CO2) and nitrogen oxide (NOx). The VRT on...

Written Answers — Department of Finance: Tax Code (19 Oct 2023)

Michael McGrath: As the Deputy will be aware, taxes on capital including CGT ensure that taxation is not focused solely on income and that those who benefit from gains in the value of their assets are included within the tax net on an equitable basis. It is important that burden of taxation is shared appropriately across the range of different taxes. While preparing this year’s Budget a range of...

Written Answers — Department of Finance: Housing Schemes (19 Oct 2023)

Michael McGrath: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, nor can we compel any insurer operating in the Irish market to provide cover to specific individuals or businesses. This position is reinforced by the EU framework for insurance companies (the Solvency II Directive). As the Deputy will...

Written Answers — Department of Finance: State Claims Agency (19 Oct 2023)

Michael McGrath: The matters that the Deputy is referring to are appropriate to my colleague Mr. Stephen Donnelly TD Minister for Health. As regards the role of the State Claims Agency (SCA) I should say that across all the Departments and the many related bodies and agencies that the SCA is delegated to handle cases for, the relevant Minister with the policy responsibility for the area in which cases...

Written Answers — Department of Finance: Tax Credits (18 Oct 2023)

Michael McGrath: The Irish tax code provides for a wide range of tax credits, reliefs and allowances for individuals who are carers or have care responsibilities. Eligibility for these tax credits, reliefs and allowances is based on the conditions and criteria attached to each individual measure and the claimant’s personal circumstances. It is also important to note that Revenue pro-actively...

Written Answers — Department of Finance: Departmental Legal Cases (18 Oct 2023)

Michael McGrath: 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: Budget 2024 (18 Oct 2023)

Michael McGrath: As the Deputy will be aware, this Government is acutely conscious of the impact of rising interest rates and mortgage costs on many taxpayers. It is for this reason, I introduced a temporary one-year, targeted form of mortgage interest tax relief as part of Budget 2024. Mortgage interest tax relief will be available to taxpayers in respect of their principal private residence in the...

Written Answers — Department of Finance: Revenue Commissioners (18 Oct 2023)

Michael McGrath: I am advised by Revenue that the changing demands of taxpayers and the need to provide an efficient and cost-effective service has resulted in the overall mix and nature of its service channels evolving. To that end, Revenue provides a full range of online services for taxpayers to manage their tax affairs, including an online communications channel through the MyEnquiriessystem, which are...

Written Answers — Department of Finance: Tax Code (18 Oct 2023)

Michael McGrath: I propose to take Questions Nos. 106 and 107 together. My Department and Revenue have, for some time, been aware of issues arising from contractual arrangements within the General Practitioner (GP) community whereby some GPs assign income under their General Medical Services (GMS) contract to a GP practice in which they are a partner or an employee. The income is then treated by the...

Written Answers — Department of Finance: Insurance Coverage (18 Oct 2023)

Michael McGrath: As the Deputy is aware, neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products. This is set out in the EU framework for insurance – the Solvency IIDirective – and limits the actions that Government can take in relation to insurance for thatched properties. Nevertheless, I can assure the Deputy that this Government is committed...

Written Answers — Department of Finance: Climate Action Plan (18 Oct 2023)

Michael McGrath: In the Summer Economic Statement 2023 it was announced €2¼ billion in windfall tax receipts would be made available to support the delivery of infrastructure projects over the period 2024 to 2026, as well as to make a contribution to the Climate Action Fund for nature restoration. This approach makes use of these potentially transient revenues to build long-lasting improvements to...

Written Answers — Department of Finance: Climate Action Plan (18 Oct 2023)

Michael McGrath: I understand that the Deputy is referring to the Infrastructure, Climate and Nature Fund, which I announced on Budget day. The Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill will establish this fund. The Bill is included on the list of bills for publication in the Government’s autumn legislation programme. Following Government approval on 10 October, the...

Written Answers — Department of Finance: Tax Code (18 Oct 2023)

Michael McGrath: An employer may provide up to two small benefits, with a combined value of both provided benefits not exceeding €1,000 in a year of assessment, which will be exempt from Income Tax, PRSI and USC, provided all of the conditions contained within section 112B of the Taxes Consolidation Act 1997 are satisfied. This relief is commonly referred to as the “Small Benefit...

Written Answers — Department of Finance: Credit Register (18 Oct 2023)

Michael McGrath: The Central Credit Register is established by the Central Bank under the Credit Reporting Act 2013 (the Act). Under the Act credit information providers are required to provide factual information in relation to loans and loan applications, which is then used to provide credit reports to borrowers and lenders. The Deputy may wish to note that the Central Credit Register does not produce...