Results 3,581-3,600 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Business Supports (15 Feb 2023)

Michael McGrath: Sections 100 to 102 of the Finance Act 2022 make provision for the Temporary Business Energy Support Scheme (TBESS). The scheme provides support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023. The TBESS is available to eligible tax compliant businesses carrying on a trade or profession, the profits of which are...

Written Answers — Department of Finance: Tax Code (15 Feb 2023)

Michael McGrath: Local Property Tax (LPT), in common with all other taxes and duties, must have a robust but reasonable set of sanctions open to Revenue to apply in appropriate cases. Section 1080 of the 1997 Taxes Consolidation Act provides for the charging of interest on the late payment of Income Tax. The current rate applied to such late payments is 8% per annum (0.0219% per day). This rate also applies...

Written Answers — Department of Finance: Tax Code (15 Feb 2023)

Michael McGrath: Recent Government policy has focused on strengthening the environmental rationale behind company car taxation. Until the changes brought in as part of the Finance Act 2019, Ireland’s vehicle benefit-in-kind regime was unusual in that there was no overall CO2rationale in the regime. This is despite a CO2based vehicle BIK regime being legislated for as far back as 2008 (but never having...

Written Answers — Department of Finance: Business Supports (15 Feb 2023)

Michael McGrath: The Temporary Business Energy Support Scheme (TBESS) was introduced to support qualifying businesses with increases in their electricity or natural gas costs over the winter months. Ireland received State Aid approval from the EU Commission for the TBESS scheme under the Temporary Crisis Framework for State Aid measures to support the economy following the aggression against Ukraine by...

Written Answers — Department of Finance: Departmental Policies (15 Feb 2023)

Michael McGrath: Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provides for the Employment Wage Subsidy Scheme (EWSS) which was an economy-wide enterprise support for eligible businesses in respect of eligible employees. The scheme closed with effect from 31 May 2022. As the Deputy will be aware, eligibility to EWSS was based on the employer demonstrating that its...

Written Answers — Department of Finance: Insurance Industry (15 Feb 2023)

Michael McGrath: In order to provide a complete response, my officials contacted the Central Bank of Ireland in relation to the Deputy’s query. The Central Bank has advised that the Consumer Protection Code sets out its expectations of how regulated entities, including insurance companies, should treat consumers. The Code states that regulated entities must act honestly, fairly and professionally in...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: I thank the Cathaoirleach and committee members for the opportunity to appear to discuss the Revised Estimates for 2023. I am joined by Mr. Paul Cotter, principal officer in the finance division, and Ms Laurna Cunningham, finance officer at the Department. As Minister for Finance, I will be discussing the four votes within the finance group of Votes: Vote 7 - the Department of Finance; Vote...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: I think the primary driver of that is that more meetings are now happening in person. There was a significant reduction in travel and subsistence-related costs in my Department and indeed across all Departments for two years or so during Covid-19, as the Deputy knows. Now there is more in-person travel and in-person meetings taking place and that is the main reason. There is not any other...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: I believe it is. If the Deputy looks at the Estimate that had been provided for 2022, it was €894,000. The outturn was dramatically below the Estimate. It represents a near doubling relative to the outturn, as the Deputy said, but it is a more modest increase relative to the Estimate that was given for 2022.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: I think it is accounted for by increased travel to European meetings, the IMF, the World Bank and more external engagement. There is an opportunity for the Government and our officials to get out there more and have more external engagement.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: I do not have it to hand. We can send it on.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: It is relating to the offices and premises that the Department has and has control of. That would include, of course, the costs of the permanent representative office, the costs we have in Brussels, general maintenance, light, heat and fuel, health and safety expenses, relocation and sundry expenses. The 2023 allocation was provided to include infrastructural upgrades of The Billets...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: I thank the Deputy for raising this issue, which I know is one of serious concern to those who are directly impacted. I am anxious to see progress now quickly in getting the disabled drivers medical board of appeal back up and running. I do believe that we are almost there. Garda vetting for all five candidates has recently been completed. All have been nominated by the Minister for...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: Conversation.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: I look at it a little differently. I do not think we start by saying it will cost more. Perhaps it will, but it could be quite a different scheme. One of the questions is around whether we are best to approach this through a grant-based scheme as opposed to a tax-based scheme. That is the first question that needs to be answered. I will not pre-empt the outcome of the report that has, I...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: My priority is to get the board of appeal up and running so the backlog of appeal cases can be addressed. There are people all over the country waiting for that to happen and to have their case heard and processed. I expect the appeal board will be populated with members and start to function within weeks. That is my understanding, and I will do whatever needs to be done to make sure that...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: I will add a quick point to my response on that issue. If there is a situation where, by its nature, the work has to be done abroad and that then triggers a tax liability on the importation of the vehicle, we have to address that when reforming this scheme or coming up with a replacement scheme. I acknowledge that. However, as the Deputy acknowledged, I cannot intervene in Revenue's...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: Under subhead A4, consultancy and other services, the estimate is €748,000 for the current year, which is less than the estimate for 2022 but is significantly higher than the projected outturn. I understand that much of that cost relates to the joint research work that is done with the ESRI. We can provide more granular detail on that, if required. Subhead B4, consultancy and other...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2023
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2023)

Michael McGrath: I acknowledge the increase in interest rates since last July is having a direct impact on mortgage holders and businesses. We have seen the cost of borrowing for governments, including Ireland's, also increase over that period. As the Deputy knows, mortgage interest relief has been phased out. It no longer exists for mortgage holders. The debate we had in the past was about extending...