Results 581-600 of 9,090 for speaker:Jack Chambers

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

Jack Chambers: Auto-diesel is liable to excise duty in the form of Mineral Oil Tax (MOT). MOT comprises a carbon and a non-carbon component with respective rates currently €169.96 and €425.72 per 1,000 litres, giving a total MOT rate of €595.68 per 1,000 litres. The Deputy has asked about an excise rebate for the non-fossil component of diesel which I am taking to mean the biofuel...

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

Jack Chambers: I am advised by Revenue that traders are not required to identify the VAT yield generated from the supply of specific goods and services on their VAT returns. Therefore, it is not possible to provide an accurate costing for the measure outlined.

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

Jack Chambers: Section 469 of the Taxes Consolidation Act 1997 provides for tax relief where an individual proves that he or she has incurred costs in respect of qualifying health expenses. Only "health expenses" incurred in the provision of “health care”, which has been carried out or advised by (in certain circumstances) a practitioner, will qualify for tax relief. Health care is defined...

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

Jack Chambers: I am advised by Revenue that its Ready Reckoner for calculating the impact of potential changes in rates of taxation can be used to estimate the effect of changes to the Betting Duty rate by extrapolating from the information on page 26. The Ready Reckoner is available on the Revenue website at: . An update of the Ready Reckoner is due to be published by the 25th of October 2024. These...

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

Jack Chambers: I understand that the Deputy’s question relates to cases where retired PAYE workers, who have recently sought a Statement of Liability (SOL) from Revenue, have been asked by Revenue to submit tax returns to finalise their tax position. I am advised by Revenue that a Preliminary End of Year Statement (PEOYS) is made available on myAccount to all PAYE employees, including retired...

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

Jack Chambers: In June 2023, the terms of reference for a National Payments Strategy (NPS) were published, and work on the NPS has commenced, taking account of the changing payment landscape and ongoing legislative developments at EU level, including proposals on instant payments, payment services, legal tender and the digital euro. Access to cash and acceptance of cash is also being examined as part of...

Written Answers — Department of Finance: Banking Sector (15 Oct 2024)

Jack Chambers: As the Deputy will be aware, the Central Bank of Ireland (CBI) as the financial regulator is independent in its operations. The CBI’s role as financial regulator extends to securities markets. In this regard it was designated as Ireland’s competent authority for the purposes of carrying out the functions of a competent authority referred to in the EU Prospectus Regulation...

Written Answers — Department of Finance: Official Engagements (15 Oct 2024)

Jack Chambers: There have been no international events or engagements since the formation of the Government where media attended as part of the Government delegation.

Written Answers — Department of Finance: Departmental Expenditure (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. I am advised by Revenue that the total cost of Help to Buy approved claims...

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

Jack Chambers: I propose to take Questions Nos. 235 and 236 together. On 20 October 2023, the Supreme Court, in a unanimous decision, delivered an important judgment on the key factors to be considered when classifying an individual’s employment status for income tax purposes. The detailed judgment was delivered by Mr. Justice Brian Murray in The Revenue Commissioners v. Karshan (Midlands) Ltd....

Written Answers — Department of Finance: Financial Services (10 Oct 2024)

Jack Chambers: I note the Deputy's query regarding individual savings accounts available in the United Kingdom. With regard to individual savings accounts, it will be of interest to the Deputy that my Department published the Terms of Reference for a review of Ireland’s funds sector - ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’ last year. A draft...

Written Answers — Department of Finance: Tax Code (10 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 148 and 149 together. 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...

Written Answers — Department of Finance: Tax Code (10 Oct 2024)

Jack Chambers: The Budget 2025 tax revenue projections incorporate a net negative €2 billion impact from both pillars from 2026 on. As the Deputy will be aware, work is still ongoing on the finalisation of Pillar 1 of the agreement and so the forecasts presented at Budget time are unchanged from previous forecasts. The situation will be monitored by my Department and the estimate revised once...

Written Answers — Department of Finance: Prize Bonds (10 Oct 2024)

Jack Chambers: The National Treasury Management Agency (NTMA) has informed me that they appreciate the desire to invest in State Savings products, including Prize Bonds. All such products are tax free, including at encashment. The NTMA advises that the present limits are already of a significant size for an individual as part of a savings portfolio, and it would be difficult to allow different limits for...

Written Answers — Department of Finance: Departmental Reviews (10 Oct 2024)

Jack Chambers: My Department has not carried out a capacity review in the last ten years. I would however mention an independent review of the Department’s performance that was carried out in 2010. The review examined the performance of the Department of Finance over the previous ten years. The conclusions of the review were published in a report entitled “Strengthening the Capacity of the...

Written Answers — Department of Finance: Tax Code (9 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 37, 45 and 48 together. 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,...

Written Answers — Department of Finance: Tax Code (9 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 38, 46 and 49 together. 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,...

Written Answers — Department of Finance: Tax Credits (9 Oct 2024)

Jack Chambers: The Irish income tax code contains favourable provisions relating to the tax treatment of widowed persons. In the year of bereavement, a widowed person is entitled to the same personal tax credits as a married couple, if they were jointly assessed to tax, and the assessable spouse or nominated partner. If they were not the assessable spouse or nominated civil partner they will receive the...

Written Answers — Department of Finance: Tax Data (9 Oct 2024)

Jack Chambers: I am advised by Revenue that the amounts of tax, broken down by Mineral Oil Tax (MOT) non-carbon component (NCC), MOT carbon component (CC) and VAT, collected in respect of Petrol, Diesel, Kerosene, MGO and Other LPG, for the years 2020 to 2023 and an estimate for the year-to-date September 2024 are shown in the following table. Year Petrol €m Diesel...

Written Answers — Department of Finance: Tax Data (9 Oct 2024)

Jack Chambers: I am advised by Revenue that its Ready Reckoner for calculating the impact of potential changes in rates of taxation can be used to estimate the effect of changes to the carbon tax rate by extrapolating from the information on page 23. The Ready Reckoner is available on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/ready-reckoner/index.aspx. An...