Results 2,361-2,380 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: The Department of Finance has opened its pre-budget costings service, this is available with effect from 3 July 2023. The procedures for availing of this service are set out in a letter dated 3 July 2023 from the Secretary General of the Department to all recognised parties and technical groups in Dáil Éireann. To ensure efficiency and fairness all costing requests should be made...

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: As the Deputy is aware, loss relief for corporation tax is a longstanding feature of the Irish corporate tax system and a standard feature of corporation tax systems in most OECD countries. It recognises the fact that a business cycle runs over several years, and that it would be unfair to tax income earned in one year and not allow relief for losses incurred in another. Loss relief works by...

Written Answers — Department of Finance: National Asset Management Agency (13 Jul 2023)

Michael McGrath: Section 851A of the Taxes Consolidation Act 1997 precludes the Revenue Commissioners from directly or indirectly disclosing taxpayer-specific information to third parties unless this is specifically provided for in legislation. Therefore, I can only refer to publicly available information. The latest data available for the estimated value of the relevant banks’ deferred tax assets is...

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: When the design of the Defective Concrete Products Levy was agreed last year, it was estimated to raise €32 million per full year i.e. from 2024 inclusive. As this is a permanent measure it is considered to be part of the tax base.

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: The Department of Finance has opened its pre-budget costings service, which is available with effect from 3 July 2023. The procedures for availing of this service are set out in a letter dated 3 July 2023 from the Secretary General of the Department to all recognised parties and technical groups in Dáil Éireann. To ensure efficiency and fairness all costing requests should be made...

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 304 and 305 together. The Department of Finance has opened its pre-budget costings service, this is available with effect from 3 July 2023. The procedures for availing of this service are set out in a letter dated 3 July 2023 from the Secretary General of the Department to all recognised parties and technical groups in Dáil Éireann. To ensure...

Written Answers — Department of Finance: Construction Industry (13 Jul 2023)

Michael McGrath: As the Deputy is aware, arising from a November 2021 Government decision that a levy be imposed on the construction sector to contribute towards the cost of the Mica Redress Scheme, the Defective Concrete Products Levy was announced as part of Budget 2023. As part of the work undertaken on the impact that the levy could have on the construction sector the Department of Housing, Local...

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 307 to 309, inclusive, and 311 to 325, inclusive, together. The Department of Finance has opened its pre-budget costings service, this is available with effect from 3 July 2023. The procedures for availing of this service are set out in a letter dated 3 July 2023 from the Secretary General of the Department to all recognised parties and technical groups in...

Written Answers — Department of Finance: Tax Credits (13 Jul 2023)

Michael McGrath: The position currently is that the most up to date statistics for the number of persons claiming each category of credit or allowance in the income tax code is contained on the Revenue website and this is updated on an ongoing basis. Further information can be found at this link: www.revenue.ie/en/corporate/documents/statistics/tax-expendi tures/costs-tax-expenditures.pdf I am advised by...

Written Answers — Department of Finance: Departmental Schemes (13 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 326 and 327 together. The Deputy should note at the outset that no Government decision has been made on the replacement of the Disabled Drivers and Disabled Passengers scheme (DDS) with a grant scheme. Therefore, no provision has been made for it in either the expenditure or tax base for 2025. This matter is under consideration. The Department of the...

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: I understand that when the Deputy refers to increased revenue generated as a result of the OECD Agreement, he is referring to Pillar Two of that agreement dealing with the adoption of a global minimum effective tax rate of 15%. In October 2021 Ireland, along with almost 140 other countries in the OECD/G20 Inclusive Framework, signed up to an historic agreement to reform the international...

Written Answers — Department of Finance: Revenue Commissioners (13 Jul 2023)

Michael McGrath: I am advised that Revenue provides a wide range of service channels to taxpayers who require assistance including online, phone, postal and an appointment service. The Appointment Service offers both virtual and in-person appointments, eliminating waiting times and allowing taxpayers to choose a time convenient for them. An appointment can be made through Revenue’s dedicated...

Written Answers — Department of Finance: Departmental Schemes (13 Jul 2023)

Michael McGrath: I wish to inform the Deputy that my Department does not currently run any internships, apprenticeships or graduate schemes. We do recruit via the Administrative Officer graduate entry campaign conducted by the Public Appointments Service and the Department of Public Expenditure, National Development Plan Delivery and Reform's Irish Government Economic and Evaluation Service (IGEES) graduate...

Written Answers — Department of Finance: Tax Code (13 Jul 2023)

Michael McGrath: I am advised by Revenue that while the person concerned is currently in receipt of the appropriate tax credit and rate band allocations, they are not distributed evenly between their PAYE income sources on record. In addition, the person concerned is in receipt of State Contributory Pension payments from the Department of Social Protection (DSP). Where a person has a PAYE source of...

Written Answers — Department of Finance: Tax Exemptions (12 Jul 2023)

Michael McGrath: The Department of Finance has opened its pre-budget costings service, this is available with effect from 3 July 2023. The procedures for availing of this service are set out in a letter dated 3 July 2023 from the Secretary General of the Department to all recognised parties and technical groups in Dáil Éireann. To ensure efficiency and fairness all costing requests should be...

Written Answers — Department of Finance: Housing Schemes (12 Jul 2023)

Michael McGrath: The original Help to Buy (HTB) Scheme allowed for relief to the lesser of: • €20,000 • 5% of the purchase price or approved valuation • The amount of Income Tax (IT) and Deposit Interest Retention Tax (DIRT) paid for the 4 years prior to when the application is made The enhanced HTB scheme allows for relief to the lesser of: • €30,000 • 10%...

Written Answers — Department of Finance: Rental Sector (12 Jul 2023)

Michael McGrath: 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 2022 and subsequent years to end-2025. Claims in respect of the 2022 year of assessment can be made by PAYE taxpayers by submitting an Income Tax return for that year. For claims relating to 2023, PAYE...

Written Answers — Department of Finance: Departmental Expenditure (12 Jul 2023)

Michael McGrath: Details of outside/third-party report costs incurred by my Department in 2022 and 2023 to date are set out in the table below. Year Reports Payee Amount (Ex-VAT)€ 2022 Help to Buy Review Mazars €64,300 2022 Research, preparation, production and revision of research paper on...

Written Answers — Department of Finance: Public Sector Pay (12 Jul 2023)

Michael McGrath: I am informed that payroll for Revenue staff is managed by the National Shared Services Office (NSSO). Regarding the pay arrears due to a Revenue staff member under the Building Momentum Agreement, the NSSO has informed Revenue that it faced a number of significant challenges in delivering these increases in a short time frame. In response to this challenge, the NSSO created a dedicated...