Results 2,901-2,920 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Collection (10 May 2023)

Michael McGrath: 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 Directive provides that all goods and services are liable to VAT at the standard rate unless they are exempt from VAT or fall within Annex III of the Directive, in which case lower VAT rates may apply subject to certain rules. From 1 May 2023,...

Written Answers — Department of Finance: State Claims Agency (10 May 2023)

Michael McGrath: I am informed by the National Treasury Management Agency that it was not possible to respond to this information request in the time available and therefore I will make arrangements to provide a response in line with Standing Order 42A.

Written Answers — Department of Finance: Revenue Commissioners (10 May 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. While Revenue previously provided a traditional over the counter service in a number of their offices, changing demands of taxpayers and the need to provide an efficient and cost-effective service has resulted in the overall mix...

Written Answers — Department of Finance: Departmental Schemes (10 May 2023)

Michael McGrath: The Living City Initiative (LCI) (provided for in Finance Act 2013 and commenced on 5 May 2015) is a tax incentive aimed at the regeneration of the historic inner cities of Dublin, Cork, Galway, Kilkenny, Limerick and Waterford. The scheme provides income or corporation tax relief for qualifying expenditure incurred in refurbishing/converting qualifying buildings which are located within...

Written Answers — Department of Finance: Departmental Data (10 May 2023)

Michael McGrath: The Living City Initiative (LCI) is a scheme of property tax incentives provided for in sections 372AAA to 372AAD of the Taxes Consolidation Act 1997. It offers income or corporation tax relief for qualifying expenditure incurred in the refurbishment and conversion of qualifying residential and commercial buildings located within ‘Special Regeneration Areas' in Cork, Dublin, Galway,...

Written Answers — Department of Finance: National Asset Management Agency (10 May 2023)

Michael McGrath: I wish to advise the Deputy that by virtue of Sections 99 and 202 of the NAMA Act, NAMA is legally precluded from disclosing confidential debtor information, including specific details relating to loans advanced to debtors or the confidential terms of facility agreements. Generally speaking however, I am advised that NAMA may provide funding to its debtors and receivers in cases where it can...

Ceisteanna Eile - Other Questions: Tax Code (9 May 2023)

Michael McGrath: I thank the Deputy. It has been a messy period for the motor sector and its trade with the North and Great Britain because of Brexit. When one considers what has transpired since Brexit, including the unilateral changes that were made in January 2021 and the fact that Revenue had to update its guidance in response to the withdrawal agreement, the Northern Ireland protocol and a new scheme...

Ceisteanna Eile - Other Questions: Banking Sector (9 May 2023)

Michael McGrath: Notwithstanding good progress in reducing our shareholdings in the banking system and returning funds to the Exchequer, the State remains a majority shareholder in AIB, with a 53% stake, and in Permanent TSB, with a stake of approximately 62%. It continues to be this Government’s belief that banking in the main is an activity that should be provided by the private sector and that...

Ceisteanna Eile - Other Questions: Banking Sector (9 May 2023)

Michael McGrath: We must have a banking system that provides services to customers. The State had to rescue the banks by investing an enormous amount of money. We are recouping much of that money but still have a journey to go. All of that work and the services provided by the banking sector, which supports thousands of staff in Ireland, is complemented by the work of the credit union movement. Credit...

Ceisteanna Eile - Other Questions: Banking Sector (9 May 2023)

Michael McGrath: The truth is that the sector is now looking at and embracing enormous opportunity. As bank branches are closing around the country, credit unions are present and embedded in communities. We are now providing the policy and legislative framework to enable them to grow and prosper into the future. We will continue with that work.

Ceisteanna Eile - Other Questions: Budget 2024 (9 May 2023)

Michael McGrath: The tax for which I have specific policy responsibility is the vacant homes tax, which has only just come into being. It has yet to be paid by anyone. We are in the first chargeable period. Returns will be made and the charge will be levied. The Revenue Commissioners will provide information to me regarding the operation of that tax and I will come to a view as to whether we need to...

Ceisteanna Eile - Other Questions: Budget 2024 (9 May 2023)

Michael McGrath: When we get the full data and having looked at the legitimate exemptions that are provided for in law in terms of the vacant homes tax, the number of people who are directly impacted will not be as high as some are suggesting. I do not think the yield will be as high as some people might think either because of the exemptions that are in place, and which need to be there. That is just that...

Ceisteanna Eile - Other Questions: Tax Code (9 May 2023)

Michael McGrath: Since the UK left the EU Single Market and customs union, from 1 January 2021, the movement of goods from Great Britain into the EU is an importation from a third country and, in accordance with the terms of the withdrawal agreement, such goods must be declared to customs and are liable to customs duty, if applicable, and VAT at import. However, the EU-UK Trade and Cooperation Agreement...

Ceisteanna Eile - Other Questions: Tax Code (9 May 2023)

Michael McGrath: Since 1 May 2023, the UK Government has introduced a new scheme known as the second-hand motor vehicle payment scheme. The new scheme allows car dealers who are VAT registered in Northern Ireland and other member states to reclaim the VAT element of the vehicle cost if the vehicle is purchased in Great Britain and removed or exported from there by the purchaser or by the Great Britain...