Results 2,181-2,200 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Code (3 Oct 2023)

Michael McGrath: It is assumed the Deputy is referring to Capital Acquisitions Tax and the Group A threshold. For Capital Acquisitions Tax (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...

Written Answers — Department of Finance: Tax Code (3 Oct 2023)

Michael McGrath: I am advised by Revenue that VAT arrangements are subject to EU VAT law, with which Irish VAT law must comply. EU VAT law, including the VAT Directive, provides a framework of rules and principles that Member States are obliged to observe. In certain circumstances, it is possible for a Member State to maintain historic national arrangements, but only provided these are not expanded. The...

Written Answers — Department of Finance: Tax Reliefs (3 Oct 2023)

Michael McGrath: Section 118 of the Taxes Consolidation Act 1997 (TCA), sets out the general charging provisions for benefit-in-kind (BIK). Unless otherwise specified, a charge to tax arises on any benefit provided to a director or employee by his or her employer. The taxable value of the benefit is generally the cost to the employer of providing the benefit. However, subsections 5I to 5L provide for...

Written Answers — Department of Finance: Tax Code (3 Oct 2023)

Michael McGrath: It is a long-standing and broadly accepted rule that individuals who are tax resident in Ireland are liable to pay Irish tax. Trans-Border Workers’ Relief may apply in the case of an individual resident in the State but who commutes to his or her place of work outside the State. To avail of the relief, the duties of employment must be performed outside the State in a country with...

Written Answers — Department of Finance: Primary Medical Certificates (3 Oct 2023)

Michael McGrath: The final report of the NDIS Transport Working Group's review of mobility and transport supports including the Disabled Drivers and Disabled Passengers Scheme (DDS), endorsed proposals for a modern, fit-for-purpose vehicle adaptation scheme in line with international best practice that would replace the DDS, as it is no longer fit-for-purpose on any and all aspects. The proposals note that...

Written Answers — Department of Finance: Tax Credits (3 Oct 2023)

Michael McGrath: I propose to take Questions Nos. 235 and 236 together. The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by Finance Act 2022 and may be claimed in respect of qualifying rent paid in the years 2022 to 2025 inclusive. Customers can claim the credit for 2022 by completing their Income Tax Return, either online via MyAccount or by...

Written Answers — Department of Finance: Departmental Policies (3 Oct 2023)

Michael McGrath: I propose to take Questions Nos. 237, 239 and 253 together. Progress has been made on efforts to convene a new Disabled Drivers Medical Board of Appeals (DDMBA), to secure hosting arrangements for the DDMBA and to recommence the appeals process. I have now formally appointed all five members to the new DDMBA. Funding arrangements between the Department of Finance and the Department of Health...

Written Answers — Department of Finance: Legislative Measures (3 Oct 2023)

Michael McGrath: As the deputy is aware, KEEP is a notified State aid. Accordingly approval from the European Commission is required before any amendments to the scheme can be commenced. Six amendments were introduced in Finance Act 2022. Approval from the European Commission was received for two of the amendments and these amendments were commenced at the end of 2022. The remaining four amendments are...

Written Answers — Department of Finance: Legislative Measures (3 Oct 2023)

Michael McGrath: The Deputy may wish to note that this issue was addressed in the Financial Consumer Protection Roadmap which my Department published on 13th September. The revised Consumer Credit Directive will enter into force on the 20th day after its publication in the Official Journal of the EU. Member states will then have 2 years to adopt necessary laws and administrative provisions (transposition) and...

Written Answers — Department of Finance: Data Protection (3 Oct 2023)

Michael McGrath: 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: Tax Code (3 Oct 2023)

Michael McGrath: The latest available Revenue Ready Reckoner, which is available on their website at "Revenue Ready Reckoner – Pre Budget 2024", indicates on page 21 that the full year cost of abolishing duty on cash cards (includes ATM cards, debit cards and combined ATM/debit cards) would be €8 million.

Written Answers — Department of Finance: Tax Code (3 Oct 2023)

Michael McGrath: I am advised by Revenue that the estimated cost of reducing the level of excise applied to home heating oil from €122.83 to €69 from 16 October 2023 to 1 March 2024 is €29.8 million, comprising Mineral Oil Tax (MOT) of €26.3 million and VAT of €3.5 million.

Written Answers — Department of Finance: Official Engagements (3 Oct 2023)

Michael McGrath: Ireland has a long-standing and excellent bilateral relationship with Spain, which is framed within the context of our common membership of the European Union. I held a meeting with Minister Calvino en marge of the Economic and Finance Ministers (ECOFIN) meeting in Brussels on 14 July, central to which was an outline by Minister Calvino of Spain’s EU Presidency which they hold for...

Written Answers — Department of Finance: State Bodies (3 Oct 2023)

Michael McGrath: The issue of cash acceptance in financial transactions with both public and private service providers is an important issue that is currently being considered at domestic level by Government and, now, at European level led by the European Commission. The Deputy will be aware that the Retail Banking Review, which was published in November 2022, contained a key recommendation for the...

Written Answers — Department of Finance: Departmental Funding (3 Oct 2023)

Michael McGrath: The Department of Finance has not provided any funding to Planned Parenthood International.

Written Answers — Department of Finance: Tax Code (3 Oct 2023)

Michael McGrath: VRT is an emissions-based tax and therefore the amount of VRT incurred will vary across different vehicle makes and models. The charge is determined by the Open Market Selling Price of the vehicle. While there were no changes to VRT as part of Budget 2023, recent reform to the rates structure has provided for increased VRT rates for high emission vehicles, while lower emission vehicles...

Written Answers — Department of Finance: Tax Reliefs (3 Oct 2023)

Michael McGrath: I am aware of the issues raised in the Deputy’s question. In addition, the Oireachtas Committee on Budgetary Oversight’s recent report on the section 481 film tax credit makes a number of recommendations which cover many different themes and policy areas, including both copyright law and employment rights. Copyright law falls within the remit of the Department of the...

Written Answers — Department of Finance: Tax Code (3 Oct 2023)

Michael McGrath: I am advised by Revenue that the annual cost and number of claimants of the ‘Rent-a-Room Relief’ and ‘Childcare Services Relief’ is available in the Cost of Tax Expenditures Publication, which is available on the Revenue website at www.revenue.ie/en/corporate/information-about-revenue/statis tics/tax-expenditures/costs-expenditures.aspx. The items in question are...

Written Answers — Department of Finance: Budget 2024 (3 Oct 2023)

Michael McGrath: I understand that Deputy Nash is referring to the chargeable excess tax and Standard Fund Threshold (SFT) regime. I am advised by Revenue that the SFT was introduced in Finance Act 2005, with the purpose of addressing excessive pension accrual, and it applies to all private and public sector pension arrangements. It is provided for in Chapter 2C of Part 30 of the Taxes Consolidation Act...

Written Answers — Department of Finance: Tax Code (3 Oct 2023)

Michael McGrath: I propose to take Questions Nos. 251 and 252 together. I am advised by Revenue that the Help to Buy (“HTB”) incentive, is a scheme to assist first-time purchasers with the deposit they require to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to...