Results 521-540 of 9,153 for speaker:Jack Chambers

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: Sections 100 and 101 of the Finance Bill 2024 (as initiated) provide for the introduction of a revised form of relief from Capital Acquisitions Tax (CAT) for gifts and inheritances of agricultural property where certain conditions are met. The revised agricultural relief will be provided for in a new section 89A of the Capital Acquisitions Tax Consolidation Act (CATCA) 2003 and will...

Written Answers — Department of Finance: Tax Code (5 Nov 2024)

Jack Chambers: Section 126 of the Taxes Consolidation Act 1997 (TCA) deals with the tax treatment of certain social welfare payments. The Social Welfare Consolidation Act 2005 (SWCA) provides for the payment of the weekly state pension. The payment is made by the Department of Social Protection to an individual who fulfils the statutory criteria. The SWCA also provides for an increase in the amount of...

Written Answers — Department of Finance: Tax Code (5 Nov 2024)

Jack Chambers: Section 119(1) of the Value-Added Tax Consolidation Act 2010 lists certain specific matters which may be appealed to the Tax Appeals Commission, including the refusal by the Revenue Commissioners to approve a VAT refund application by a foreign trader under Section 101 of the Act. Section 101(9) sets out the actions which must be taken by the Revenue Commissioners on receipt of such a...

Written Answers — Department of Finance: Tax Code (5 Nov 2024)

Jack Chambers: The Tax Appeals Commission (TAC) was established on 21 March 2016 following the enactment of the Finance (Tax Appeals) Act 2015, replacing the Office of the Appeal Commissioners. It is an independent statutory body tasked with providing a modern and efficient appeals process in relation to the hearing and adjudication of tax disputes. In carrying out its functions, the TAC is obliged to...

Written Answers — Department of Finance: Tax Data (5 Nov 2024)

Jack Chambers: As the Deputy will be aware Finance Act 2020 is the legislation underpinning the Programme for Government approach to carbon tax. Finance Act 2020 provides for multiannual increases in the carbon tax from the Budget 2020 headline rate of €26 per tonne of Carbon Dioxide emitted to a headline rate of €100 per tonne legislated to apply as a headline rate in 2030. Annual...

Written Answers — Department of Finance: Revenue Commissioners (5 Nov 2024)

Jack Chambers: As the Deputy will be aware, Revenue is independent in relation to its operational activities. As such, I have no role in instructing Revenue on matters relating to those functions, including recommendations on its online services. As set out in Revenue’s Customer Service Standards and Commitments, their business model is 'Digital First’, in line with the Public Service Reform...

Written Answers — Department of Finance: Insurance Coverage (5 Nov 2024)

Jack Chambers: As Minister for Finance, I have policy responsibility for the development of the legal framework governing financial services regulation, including for the insurance sector. In terms of the challenges associated with obtaining flood cover, please be aware that the provision of such cover is a commercial matter for insurance companies, based on an actuarial assessment of the risks they are...

Written Answers — Department of Finance: Departmental Equipment (5 Nov 2024)

Jack Chambers: I have been advised by the Office of Government Chief Information Officer (OGCIO), that the number of mobile phones issued to staff within my department for the years 2022, 2023 and 2024 to date is as follows: - 2022 2023 2024 New Handsets 64 72 31 The total cost incurred by my department for mobile devices...

Written Answers — Department of Finance: Insurance Coverage (5 Nov 2024)

Jack Chambers: At the outset, it is important to note that neither the Minister for Finance, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, or compel any insurer operating in the Irish market to provide cover to specific individuals or organisations. This position is reinforced by the EU framework for insurance (the Solvency II Directive) which specifically...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: Sections 100 and 101 of the Finance Bill 2024 (as initiated) provide for the introduction of a revised form of relief from Capital Acquisitions Tax (CAT) for gifts and inheritances of agricultural property where certain conditions are met. I will bring an amendment at Committee stage of the Finance Bill to provide that these provisions will be subject to a commencement order. Subject...

Written Answers — Department of Finance: Official Engagements (5 Nov 2024)

Jack Chambers: As Ireland’s Governor at the International Monetary Fund (IMF) and World Bank Group, I travelled to Washington D.C. in October to attend the 2024 IMF-World Bank Annual Meetings. These meetings provided me with a valuable opportunity to engage with finance ministers from around the world, along with leading figures from the IMF and World Bank to discuss current and emerging economic,...

Written Answers — Department of Finance: Tax Yield (5 Nov 2024)

Jack Chambers: Stamp Duty is a tax on the documents which provide for the transfer of property, rather than a tax on individual property transfers. Where a document is chargeable with Stamp Duty, it is calculated on the total consideration paid for any property that is being transferred by virtue of that document. I am advised by Revenue that information that identifies the primary residence is not...

Written Answers — Department of Finance: Tax Exemptions (5 Nov 2024)

Jack Chambers: The income tax age exemption applies for any year of assessment where an individual is aged 65 years or over and his or her total income does not exceed €18,000 per annum. Where an individual is a married person or civil partner and is jointly assessed to tax, the age exemption will apply where either individual is aged 65 or over and where the couple’s total income does not...

Written Answers — Department of Finance: Customs and Excise (5 Nov 2024)

Jack Chambers: Article 10 of Council Directive 2007/74/EC on the exemption from value added tax (VAT) and excise duty of goods imported by persons travelling from third countries, provides that exemptions on tobacco products and alcohol do not apply to travellers under 17 years of age. This Directive is transposed in the European Communities (Tax Exemption for certain non-commercial goods imported the...

Written Answers — Department of Finance: Customs and Excise (5 Nov 2024)

Jack Chambers: I am assured that Revenue is committed to targeting the illicit tobacco trade. It implements a range of measures to identify and target the smuggling, supply or sale of illicit tobacco products, with a view to disrupting the supply chain, seizing the products and where possible, prosecuting those involved. Revenue’s strategy also involves developing and sharing intelligence on a...

Written Answers — Department of Finance: Tax Clearance Certificates (5 Nov 2024)

Jack Chambers: I am advised by Revenue that a letter of clearance, which confirms that there are no outstanding returns/liabilities arising on a deceased person’s estate, should be requested by the personal representative prior to distributing the assets of the estate. In respect of the estate concerned, Revenue has confirmed that the application for clearance has been approved and that the...

Written Answers — Department of Finance: Budget 2025 (5 Nov 2024)

Jack Chambers: Inflation has eased considerably this year and has been running at or below 2 per cent since March. Indeed, inflation was just 0.1 per cent in October, among the lowest rates in the euro area. While much of the easing in headline inflation is due to falling energy prices, core inflation (i.e. excluding energy and food prices) has also eased considerably and is now below 2 per cent. ...

Written Answers — Department of Finance: Tax Code (24 Oct 2024)

Jack Chambers: I am advised by Revenue that PAYE employees in receipt of taxable payments from the Department of Social Protection (DSP) have any tax due on those payments collected by reducing the individual’s tax credits and rate bands. The amount of the reduction is calculated with reference to payment amounts reported to Revenue by DSP. Revenue have confirmed that the income tax charged to...

Written Answers — Department of Finance: Insurance Industry (24 Oct 2024)

Jack Chambers: At the outset, it is important to state that neither I, as Minister for Finance, nor the Central Bank of Ireland can direct the pricing nor provision of insurance products. This is a commercial matter which individual companies assess on a case-by-case basis. This is due to the EU Single Market framework for insurance (the Solvency II Directive) which specifically prohibits Member States from...

Written Answers — Department of Finance: Tax Credits (24 Oct 2024)

Jack Chambers: Section 473B of the Taxes Consolidation Act (“TCA”) 1997 provides for the rent tax credit, which is, subject to a number of conditions, broadly available in the following three circumstances: 1. where the claimant makes a qualifying payment in respect of a residential property which he or she uses as his or her principal private residence, 2. where the claimant makes a...