Results 2,461-2,480 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Code (4 Jul 2023)

Michael McGrath: As the Deputy will be aware, in making any decision in relation to VAT rates or other taxation measures, the Government must balance the costs of the measures in question against their impact and the overall budgetary framework. Correspondence and meeting requests from any organisation in relation to Budget decisions are considered in the context of normal pre-Budget process. As the...

Written Answers — Department of Finance: Departmental Funding (4 Jul 2023)

Michael McGrath: I wish to advise the Deputy that my Department did not provide any grants, grand-aid, low cost borrowing or funding to the association referred to by the Deputy.

Written Answers — Department of Finance: Tax Code (4 Jul 2023)

Michael McGrath: Ireland’s taxation of fuel is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). ETD provisions covering liquid fuels are transposed into national law in Finance Act 1999 (as amended). Finance Act 1999 provides for the application of excise duty, in the form of Mineral Oil Tax (MOT), to specified mineral oils, such as...

Written Answers — Department of Finance: Tax Code (4 Jul 2023)

Michael McGrath: On 6 April 2023, I published the Terms of Reference for a review of Ireland’s funds sector and produce a report ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’. This review will look at a range of issues relevant to the funds sector including taxation in line with the recommendations of the Commission on Taxation and Welfare 2022 report,...

Written Answers — Department of Finance: Rental Sector (4 Jul 2023)

Michael McGrath: I am advised by Revenue that the changes made in Finance Act 2022 to the obligations of tenants and collection agents of non-resident landlords are intended to reduce the administrative burden on both tenants and collection agents and to simplify the process to comply with their tax obligations. It is also anticipated that the new system, which launched on 1 July 2023, should lead to better...

Written Answers — Department of Finance: Tax Reliefs (4 Jul 2023)

Michael McGrath: I acknowledge the cost pressures on parents with young children. In recognition of these pressures, a number of support measures are already in place to ease the burden on working parents. These include various tax-exempted financial supports provided by the Minister for Children, Equality, Disability, Integration and Youth to assist parents to offset the costs of early learning and childcare...

Written Answers — Department of Finance: State Savings Schemes (4 Jul 2023)

Michael McGrath: I am advised by the National Treasury Management Agency (NTMA) who manage State Savings, that when setting interest rates historically, the NTMA has sought to ensure that products remain competitive in the savings market generally, whilst providing good value to the Exchequer in terms of borrowing costs. The following table outlines the Historical State Savings Rates for the past 20 years...

Written Answers — Department of Finance: Illicit Trade (4 Jul 2023)

Michael McGrath: I am advised by Revenue that its approach to combatting the importation of prohibited and restricted goods and targeting illicit activities involves the use of analytics and detection technologies and ensuring the optimum deployment of resources on a risk-focused basis. In that context, I understand that operational requirements and arrangements regarding the deployment and use of detection...

Written Answers — Department of Finance: Departmental Correspondence (4 Jul 2023)

Michael McGrath: In advance of the Budget, as Minister for Finance I receive a large number of pre-budget submissions on a wide range of issues. All submissions are acknowledged by my department on receipt. I can confirm the pre-Budget submission to which the Deputy refers was received Wednesday 28 June. The contents will be considered in the context of the forthcoming Budget and the Deputy will be aware...

Written Answers — Department of Finance: Mortgage Interest Rates (4 Jul 2023)

Michael McGrath: The formulation and implementation of monetary policy is an independent matter for the European Central Bank (ECB) and, as the Deputy is aware, the ECB has increased official interest rates over the past year as it attempts to combat inflation. While the level of official interest rates influences the overall level of interest rates throughout the economy, the setting of retail lending...

Written Answers — Department of Finance: State Savings Schemes (4 Jul 2023)

Michael McGrath: I can advise the Deputy that I have no plans to introduce a SSIA type of saving product at this time.

Written Answers — Department of Finance: Departmental Correspondence (4 Jul 2023)

Michael McGrath: The Deputy should note at the outset that I have received the letter in question. It is also important to be aware that I am very conscious of the limitations of the Disabled Drivers and Disabled Passengers Scheme (DDS) as was my immediate predecessor. Consequently, the National Disability Inclusion Strategy Transport Working Group (TWG), comprising members from a range of...

Written Answers — Department of Finance: Budget Statement (4 Jul 2023)

Michael McGrath: Planning for Budget 2024 is well underway and officials from the Department of Finance and the Department of Public Expenditure, NDP Delivery and Reform are working towards bringing it before the Oireachtas in the autumn. The process behind each annual budget is comprehensive and includes a range of different publications and events that include the National Economic Dialogue and the...

Written Answers — Department of Finance: Customs and Excise (4 Jul 2023)

Michael McGrath: I am advised by Revenue that a Request for Tender for the design, supply and commissioning of a Customs cutter (patrol vessel) was published in the Official Journal of the EU in October 2022. Tenders were received in February 2023 and evaluation of the tenders was completed in June 2023. A preferred bidder has been identified and tenderers have been informed of the outcome. The standstill...

Written Answers — Department of Finance: Tax Code (4 Jul 2023)

Michael McGrath: It is important to consider the potential impacts and unintended consequences of providing preferential tax treatment to the proceeds of a sale of a property by a landlord to their tenant. As you are aware any tax exemption has the potential to distort the market, and this can certainly be the case with the property market. Such an exemption could further increase house prices for...

Written Answers — Department of Finance: Tax Reliefs (4 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 241 and 242 together. The Disabled Drivers & Disabled Passengers Scheme (DDS) provides relief from VRT and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons who also meet one of six specified medical criteria, as a driver or as...

Written Answers — Department of Finance: Departmental Consultations (29 Jun 2023)

Michael McGrath: I wish to advise the Deputy that the following payments were made to date in 2023. Consultancy Firms Name Services Rendered Amount (ex VAT) KPMG Home Building Finance Ireland (HBFI) MEOP Report €30,000.00 Premier Irish translation Legal Linguistic Proofing ref MICA €6,115.98 ...

Written Answers — Department of Finance: Charitable and Voluntary Organisations (29 Jun 2023)

Michael McGrath: I am informed by Revenue as follows. The Taxes Consolidation Act (TCA) provides for income tax exemptions for charities and sports bodies subject to certain conditions. Where a body is eligible for one of these exemptions, they may also be eligible for exemptions from other taxes. If a non-profit body does not have the charitable tax exemption it may be liable to tax on income, gains or...

Written Answers — Department of Finance: National Treasury Management Agency (29 Jun 2023)

Michael McGrath: I am advised by the National Treasury Management Agency (NTMA), that the NTMA constantly reviews rates, to ensure that products remain competitive in the savings market generally, whilst providing good value to the Exchequer in terms of borrowing costs. In setting the rates the NTMA is conscious and appreciative of the loyalty of State Savings customers and the importance of an appropriate...

Written Answers — Department of Finance: Departmental Expenditure (29 Jun 2023)

Michael McGrath: My Department is committed to a supportive and inclusive working environment for all staff and in conjunction with organisations across the Civil and Public service participated in Pride 2023 under the banner of ‘Proud to Work for Ireland’. The Department’s participation was coordinated by a voluntary staff Network which aims to support LGBT+ colleagues. The FinPER...