Results 3,021-3,040 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Business Supports (4 May 2023)

Michael McGrath: Last year, a large budgetary surplus of €8 billion was recorded. Absent any major shocks to the economy or our public finances, a large expansion of this surplus is projected for the years ahead. However, this headline position is flattered by the extraordinary rise in corporation tax receipts in recent years. My Department estimates that, last year, more than half of corporation tax...

Written Answers — Department of Finance: Tobacco Control Measures (4 May 2023)

Michael McGrath: Section 75 of the Finance Act 2005 (as amended) legislates for the ascertainment of retail prices of tobacco products, which had previously been dealt with in Section 84 of the Finance Act 1996. The Tobacco Products Tax (TPT) provisions of Finance Act 2005 are subject to the Tobacco Products Tax Directive (2011/64/EU) on the structure and rates of excise duty applied to manufactured...

Written Answers — Department of Finance: Business Supports (4 May 2023)

Michael McGrath: The Temporary Business Energy Support Scheme (TBESS) was introduced in Finance Act 2022. It is a broad-based measure designed to assist businesses that have experienced a significant increase in their natural gas and electricity costs as a result of the invasion of Ukraine by Russia. TBESS is a State aid measure that operates within the rules of the European Commission Temporary Crisis...

Written Answers — Department of Finance: Tax Yield (4 May 2023)

Michael McGrath: The Deputy should note that the yield from betting duty and betting intermediary duty goes directly to the Exchequer. There is no distribution to any organisation. The way in which Exchequer funding, including to the Horse and Greyhound Fund, is allocated is decided as part of the annual estimates process which is a matter for my colleagues, the Minister for Public Expenditure, NDP Delivery...

Written Answers — Department of Finance: Tax Yield (4 May 2023)

Michael McGrath: I propose to take Questions Nos. 152 and 153 together. I am advised by Revenue that a breakdown of receipts from traditional betting duty, remote/online betting duty and betting intermediary duty in each of the years 2018 to 2021 is available on the Revenue website at the following link: www.revenue.ie/en/corporate/information-about-revenue/statis...

Written Answers — Department of Finance: Tobacco Control Measures (3 May 2023)

Michael McGrath: I propose to take Questions Nos. 106 and 118 together. I am informed by Revenue that the reason for the difference in the data provided in Parliamentary Question No. 136 of 26 February 2019 and Parliamentary Question No. 347 of 21 March 2023 is due to the former providing the percentage of the total number of individual cigarettes sold in packs of 20 units and packs exceeding 20 units while...

Written Answers — Department of Finance: Universal Social Charge (3 May 2023)

Michael McGrath: I propose to take Questions Nos. 107 and 108 together. The Universal Social Charge (USC) was designed and incorporated into the Irish taxation system in 2011 to replace two other charges, namely the Health and Income Levies. The primary purpose of the USC was to widen the tax base and to provide a steady income to the Exchequer to provide funding for public services. The USC is an...

Written Answers — Department of Finance: International Bodies (3 May 2023)

Michael McGrath: As the Deputy may be aware, on March 28 I announced Ireland’s intention to declare its interest in hosting the new EU Anti-Money Laundering Authority (“AMLA”). AMLA will be a significant EU institution, tasked with supervision – either directly or jointly with national supervisors – of entities in the financial services sector in the first instance, but...

Written Answers — Department of Finance: Business Supports (3 May 2023)

Michael McGrath: The Temporary Business Energy Support Scheme (TBESS) was introduced in Finance Act 2022 to support qualifying businesses with increases in their electricity or natural gas costs arising from the invasion of Ukraine by Russia. The scheme provides support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 30 April 2023. However, following...

Written Answers — Department of Finance: Tax Data (3 May 2023)

Michael McGrath: I am advised by Revenue that based on stamp duty returns for 2022, the latest year for which fully analysed data are available, the estimated cost of abolishing stamp duty for first-time buyers of homes of less than €425k is in the order of €40 million. This estimate is arrived at by taking the stamp duty returns for residential property purchases made by persons...

Written Answers — Department of Finance: Tax Yield (3 May 2023)

Michael McGrath: The Deputy should note that all receipts from betting duty go to the Exchequer. There is no distribution of betting duty revenue to any sporting organisation. Allocations to sport and to sporting organisations is determined through the annual estimates process and is a matter for my colleagues, the Minister for Public Expenditure, NDP Delivery and Reform and the Minister for Tourism,...

Written Answers — Department of Finance: Departmental Reports (3 May 2023)

Michael McGrath: I propose to take Questions Nos. 113 and 114 together. Details of external consultant reports commissioned by my Department and bodies under the aegis of my Department since 2020, including cost, company involved and publication date by report are set out in the tables attached. External consultant reports commissioned by bodies under the aegis of the Department of Finance since 2020,...

Written Answers — Department of Finance: Tax Collection (3 May 2023)

Michael McGrath: Further to Parliamentary Questions Nos. 208, 209 and 210 of 25 April 2023, I am advised that a shortfall in Local Property Tax (LPT) payments, deducted from Department of Social Protection (DSP) payments for 2021, occurred due to an IT systems miscalculation rather than a rounding error. The systems error was unique to 2021 and has not affected subsequent or previous years. I am further...

Written Answers — Department of Finance: Departmental Bodies (3 May 2023)

Michael McGrath: The Disabled Drivers and Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on 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 as a driver or as a passenger and also to certain charitable organisations. In order to qualify for relief, the applicant must hold a...

Written Answers — Department of Finance: Departmental Bodies (3 May 2023)

Michael McGrath: The Deputy should note that even though the Disabled Drivers Medical Board of Appeal (DDMBA) is not operational at the moment, assessments for a primary medical certificate (PMC), by the HSE, are continuing to take place. In this, regard, an important point to be aware of is that applicants who have been deemed not to have met one of the six eligibility criteria required for a PMC are...

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

Michael McGrath: I visited the United States on two occasions recently, visiting Chicago for a St. Patrick's Day programme during March, and visiting Washington DC for the Spring Meetings of the IMF and World Bank during April. The St. Patrick's Day programme involved visits to both Toronto and Chicago. During the programme in Chicago I met with a wide range a wide range of political and business figures...

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

Michael McGrath: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme (DDS) provides relief from Vehicle Registration Tax and VAT on the 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 as a driver or as a passenger and also to certain charitable organisations. In order to qualify for...

Written Answers — Department of Finance: Tax Reliefs (3 May 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: Public Sector Pay (3 May 2023)

Michael McGrath: I am informed that payroll for Revenue staff is managed by the National Shared Services Office (NSSO). The NSSO recently notified the staff of all Departments and Offices whose payroll they manage that the NSSO faced a number of challenges in delivering the retrospection of pay increases due under the Building Momentum 2022-2023 agreement. Revenue’s senior HR management team are in...

Written Answers — Department of Finance: Credit Unions (27 Apr 2023)

Michael McGrath: I thank the Deputy for his question. Credit unions in Ireland are regulated and supervised under the Credit Union Act, 1997 (the 1997 Act) and regulations issued by the Central Bank, which set out the framework for the registration, regulation and operation of credit unions including detailed governance and prudential requirements. Credit union current accounts The 1997 Act and the Credit...