Results 561-580 of 9,090 for speaker:Jack Chambers

Written Answers — Department of Finance: Revenue Commissioners (15 Oct 2024)

Jack Chambers: I am advised by Revenue that, under the provisions of the Customs Act 2015, the MV Matthew was seized by an Officer of Customs on 19 October 2023 following the seizure of €157m worth of cocaine on board the vessel. The vessel is now forfeit to the Revenue Commissioners. The MV Matthew is currently located at Belvelly Port, Marino Point, Cork, which has been designated by the Port of...

Written Answers — Department of Finance: Tax Exemptions (15 Oct 2024)

Jack Chambers: I am advised by Revenue that the savings associated with the removal of the existing employer PRSI exemption, that may apply to share-based remuneration operated by employers, is estimated to be in the region of €310 million for all employers. This latest estimate, which is a maximum cost, is based on 2023 data, being the most recent year in respect of which Revenue has full data. The...

Written Answers — Department of Finance: Tax Reliefs (15 Oct 2024)

Jack Chambers: I am advised by Revenue that there are provisions in the Taxes Consolidation Act (“TCA”) 1997 which specifically exempt from income tax certain payments which are made to or on behalf of, members of the Irish Defence Forces. Section 120B TCA 1997 provides an exemption from benefit-in-kind (“BIK”) where expense is incurred, by or on behalf of the Minister for...

Written Answers — Department of Finance: Departmental Staff (15 Oct 2024)

Jack Chambers: I wish to inform the Deputy that the tables below set out the number of staff working in my Department's Press Office and Communications teams, from 2019 to date in 2024. The Communications and Press Office functions were restructured in 2024 as part the establishment of a Corporate Services Division in the Department. Communications Office: Year Number of Staff Grade ...

Written Answers — Department of Finance: Departmental Advertising (15 Oct 2024)

Jack Chambers: I wish to advise the Deputy that the following payment was made in 2024 for an advertising campaign conducted in 2023. There are no publicity, marketing or advertising campaigns conducted by my Department to date in 2024. Name of Agency Purpose of Campaign Frequency Duration Cost EX vat IDA Ireland Advertising for Ireland’s AMLA bid in Aug 2023 ...

Written Answers — Department of Finance: Housing Schemes (15 Oct 2024)

Jack Chambers: 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: Housing Policy (15 Oct 2024)

Jack Chambers: Central Bank regulated banks and other mortgage lenders are independent commercial entities and it is a matter for those entities to determine its own lending policies and to make its own individual lending decisions. This includes matters in relation to the type of security acceptable by lenders for secured lending purposes, including the nature of any required structural insurance or...

Written Answers — Department of Finance: Electric Vehicles (15 Oct 2024)

Jack Chambers: I am advised by Revenue that the total number of electric vehicles registered under EU vehicle category L1 since the changes to legislation in May 2024, referred to in the Deputy’s question, is 12. Revenue does not have the required data to separately identify L1e-A and L1e-B registrations from within the L1 vehicle category group.

Written Answers — Department of Finance: Tax Code (15 Oct 2024)

Jack Chambers: The VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a lower rate of...

Written Answers — Department of Finance: Tax Code (15 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 200 and 201 together. 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 VAT 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...

Written Answers — Department of Finance: Tax Reliefs (15 Oct 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. Subject to the enactment of these provisions in the Bill, the revised agricultural relief will be provided for in a new section 89A of the Capital...

Written Answers — Department of Finance: Tobacco Control Measures (15 Oct 2024)

Jack Chambers: I am advised by Revenue that it uses a range of measures to tackle the sale of illicit cigarettes, including online sales. At the core of these measures is identifying and targeting the smuggling of illicit tobacco products into the State, with a view to disrupting the supply chain, seizing the products and, where possible, prosecuting those involved. Revenue’s strategy involves...

Written Answers — Department of Finance: Tax Data (15 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 205 to 212, inclusive, together. I am advised by Revenue that following the announcement of Budget 2025 on the 1st of October 2024, Revenue is in the process of updating their income tax estimates model to take account of these changes. Once finalised, Revenue will publish a revised Ready Reckoner, which will set out the costs and/or yields associated with...

Written Answers — Department of Finance: Tax Data (15 Oct 2024)

Jack Chambers: Revised Entrepreneur Relief is provided for in Section 597AA of the Taxes Consolidation Act 1997. It provides that a reduced rate of 10% of Capital Gains Tax (CGT) applies in respect of a chargeable gain or chargeable gains on a disposal or disposals of qualifying business assets by an individual up to a lifetime limit of €1 million. Any chargeable gain in excess of the €1...

Written Answers — Department of Finance: Tax Data (15 Oct 2024)

Jack Chambers: Section 128F of the Taxes Consolidation Act (“TCA”) 1997 provides for the Key Employee Engagement Programme ("KEEP”), which came into effect on 1 January 2018. The aim of the incentive is to support SMEs in Ireland in competing with larger enterprises to recruit and retain key employees, by way of a targeted share option programme. Where the provisions of section 128F TCA...

Written Answers — Department of Finance: Tax Credits (15 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 215 and 216 together. I am advised by Revenue that, membership of clubs, gyms etc. is not reported to it on any tax returns and, accordingly, Revenue does not have data from which to provide estimates of the cost of the proposed changes outlined by the Deputy.

Written Answers — Department of Finance: Tax Code (15 Oct 2024)

Jack Chambers: I am advised by Revenue that the estimated cost of a further €65,000 increase in Group A, a further €7,500 increase in Group B and a further €3750 increase in Group C thresholds post the enactment of measures announced in Budget 2025 is €74.1m per annum. A breakdown of this is shown in Table 1 below: Table 1: Breakdown of CAT Costing Category ...

Written Answers — Department of Finance: Tax Code (15 Oct 2024)

Jack Chambers: I am advised by Revenue that traders are not required to separately identify the VAT yield generated from the supply of specific goods and services on their periodic VAT returns. Therefore, it is not possible to provide the VAT yield on all fuel and energy related products and services using taxpayer information alone. However, using Revenue and third-party data sources, a tentative estimate...

Written Answers — Department of Finance: Tax Credits (15 Oct 2024)

Jack Chambers: I am advised by Revenue that for 2023, the latest year for which fully analysed data are available, based on stamp duty returns for residential property purchases made by persons identifying themselves as first-time buyers, there were 19,417 such returns associated with 32,013 people. If an income tax credit of €1,000 for first-time buyers was made available on the basis of a single...

Written Answers — Department of Finance: Tax Credits (15 Oct 2024)

Jack Chambers: I am advised by Revenue that the table below sets out the estimated costs of the proposals outlined by the Deputy. These costs are done on a post-Budget 2025 basis (i.e. the additional over the levels of the relief as increased in Budget 2025). Proposed Credit Value in 2025 Estimated Additional Cost €m €1,250/€2,500 50 ...