Results 3,161-3,180 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Departmental Bodies (18 Apr 2023)

Michael McGrath: The Disabled Drivers & Disabled Passengers Scheme provides relief from VRT 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 who meet specified  medical criteria, as a driver or as a passenger and also to certain organisations. In order to qualify for relief, the...

Written Answers — Department of Finance: Credit Availability (18 Apr 2023)

Michael McGrath: Individual lending decisions are commercial decisions for lenders. Neither the Central Bank nor I can intervene directly in the commercial decision-making process of any financial institution. I have been informed by the Central Bank that it expects all regulated firms to take a consumer-focused approach and to act in their customers’ best interests at all times.  There...

Written Answers — Department of Finance: Tax Data (18 Apr 2023)

Michael McGrath: I am advised by Revenue that tax return data in relation to 2021, 2022 and 2023 are not yet available for analysis and publication. Instead, the Deputy may be aware of Revenue’s Ready Reckoner (Post Budget 2023), which is available on the Revenue website at: www.revenue.ie/en/corporate/documents/statistics/ready-recko ner.pdf This sets out, on page 2, an estimated allocation of...

Written Answers — Department of Finance: Tax Code (18 Apr 2023)

Michael McGrath: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by landowners, including farmers, of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land...

Written Answers — Department of Finance: Departmental Staff (18 Apr 2023)

Michael McGrath: I wish to inform the Deputy the number of staff in my Department currentlyon sick leave or leave cited as stress related is set out in Table A below: Table A: Current Number of Staff on Sick Leave Current Number of Staff on Stress Leave 2 0 The number of staff in my Department currentlyon sick leave or leave cited as stress related over...

Written Answers — Department of Finance: Departmental Staff (18 Apr 2023)

Michael McGrath: I wish to inform the Deputy that there were no allegations of bullying made by departmental staff against departmental staff in each of the past five years, and none to date in 2023. The key policy in relation to this is the "Dignity at Work Policy". This policy sets out procedures for staff to resolve issues or complaints which relate to bullying, harassment or sexual harassment in the...

Written Answers — Department of Finance: Departmental Staff (18 Apr 2023)

Michael McGrath: I wish to inform the Deputy the details of the number of Departmental staff of this Department that were dismissed in each of the past ten years, and to date in 2023 is set out in Table A below. Table A Year Number of Staff Dismissed 2023 0 2022 0 2021 0 2020 0 ...

Written Answers — Department of Finance: Tax Code (18 Apr 2023)

Michael McGrath: In general, capital gains tax (CGT) is chargeable on a gain arising on the disposal of an asset, including a pub licence, at the rate of 33%. The chargeable gain arising on the disposal of an asset is generally the difference between the sale price and the base cost, being the cost incurred when acquiring the asset, however, where an asset is transferred other than by way of a transaction...

Written Answers — Department of Finance: Insurance Coverage (18 Apr 2023)

Michael McGrath: I am aware of the issue of access to certain insurance services – including life insurance – for individuals with underlying health conditions and chronic illnesses. This is a very sensitive matter for many in our community. As the Deputy will appreciate, neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, nor can we...

Written Answers — Department of Finance: Tax Code (18 Apr 2023)

Michael McGrath: As the Deputy is aware, the Small Gift Exemption is an annual CAT relief available to all recipients of gifts. This means that each parent can give a gift to the value of €3,000 to a child (or anyone else) each calendar year without any CAT arising. Two parents can make gifts to a child to the value of €6,000 in any year free of CAT. Indeed, two parents could, if they wished,...

Written Answers — Department of Finance: Tax Reliefs (18 Apr 2023)

Michael McGrath: It is assumed that the Deputy’s proposals are to increase the married age exemption limits to €45,000 and €50,000 per annum respectively. On that basis, I am advised by Revenue that the estimated first and full year cost of increasing the age exemption limit to €45,000 for a married couple and €22,500 for a single person would be in the order of...

Written Answers — Department of Finance: Tax Code (18 Apr 2023)

Michael McGrath: Motor tax rates for different categories of vehicle are provided for in Part I of the Schedule of the Finance (Excise Duties) (Vehicles) Act 1952. Paragraph 2 (c) covers any vehicle for the conveyance of a machine, workshop, contrivance or implement, including recovery vehicles, and sets the motor tax rate for these vehicles at €333 per annum (the same rate as a commercial van)....

Written Answers — Department of Finance: Revenue Commissioners (18 Apr 2023)

Michael McGrath: I understand that the Deputy’s question relates specifically to Revenue’s recent Local Property Tax (LPT) compliance campaign. I am advised by Revenue that LPT returns and payments have been filed, and are up to date for approximately 1.7m properties for the year 2023. This represents a return and payment compliance rate of 93% and 90% respectively. Revenue conducts a...

Written Answers — Department of Finance: Official Engagements (18 Apr 2023)

Michael McGrath: Ireland enjoys a deep and wide-ranging bilateral relationship with Canada, owing from our historic cultural and people-to-people ties, our economic and trade relationship, and our cooperation on global affairs across an array of fora and channels. Since my appointment as Minister for Finance last December, I have not yet had direct engagement with Canada’s Deputy Prime Minister and...

Written Answers — Department of Finance: Tax Code (18 Apr 2023)

Michael McGrath: The Terms of Reference for the Citizens' Assembly on Biodiversity Loss specify that: the Government shall, on consideration of the report from the Citizens’ Assembly, provide in the Houses of the Oireachtas a response to each recommendation of the Assembly, setting out a timeframe for implementing those recommendations which it accepts. Having now received the report of the...

Written Answers — Department of Finance: Departmental Schemes (18 Apr 2023)

Michael McGrath: At the outset the Deputy should note that I have no role in relation to the granting or refusal of primary medical certificates and the HSE and the Medical Board of Appeal must be independent in their clinical determinations. Therefore I can provide no update. In relation to the the recommencement of the Disabled Drivers Medical Board of Appeal (DDMBA), the position is  that...

Written Answers — Department of Finance: Tax Code (18 Apr 2023)

Michael McGrath: The VAT gap is an estimate comparing a maximum theoretical tax liability (approximated from economic activity in a country) against actual VAT collected. A tax gap can arise for many reasons, including non-compliance but also due to legitimate tax optimisation, insolvencies, bankruptcies and economic activity not fully captured in National Accounts data.   ...

Written Answers — Department of Finance: Tax Code (18 Apr 2023)

Michael McGrath: On 8th December 2022, the European Commission published its proposed “VAT in the Digital Age” reforms to amend the European Union VAT system to respond to the challenges of digitalisation.  The proposed reforms aim to make the EU’s VAT system more resilient to fraud and more efficient for businesses.  There are three pillars involved in the proposal. ...

Written Answers — Department of Finance: Tax Exemptions (18 Apr 2023)

Michael McGrath: As the Deputy may be aware, for the purposes of capital acquisitions tax (“CAT”), the relationship between the person who provides a gift or inheritance (“the disponer”) and the person who receives it (“the beneficiary”) determines the tax-free threshold (“Group Threshold”) below which CAT does not arise. Any prior gift or...

Written Answers — Department of Finance: Interest Rates (18 Apr 2023)

Michael McGrath: The formulation and implementation of monetary policy is an independent matter for the European Central Bank (ECB). As the Deputy is aware, the ECB has increased official interest rates over recent months as it attempts to combat inflation.  The level of official interest rates will influence the overall level of interest rates throughout the economy.  However, the...