Results 821-840 of 9,090 for speaker:Jack Chambers

Written Answers — Department of Finance: Tax Yield (18 Sep 2024)

Jack Chambers: I am advised by Revenue that the receipts collected in respect of Fuel Taxes, including those used as propellant, in each of the past three years up to 2023 are published on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/excise/receipts-volume-and-price/excise-receipts-commod ity.aspx. Table 1 below details the provisional yield to date for...

Written Answers — Department of Finance: Tax Yield (18 Sep 2024)

Jack Chambers: I am advised by Revenue that the amounts collected in Carbon Tax in each month since its establishment are shown in the following tables. Month 2024 €m* 2023 €m 2022 €m 2021 €m 2020 €m Jan 85.6 78.2 64.5 56.1 46.6 Feb 100.8...

Written Answers — Department of Finance: Apple Escrow Account (18 Sep 2024)

Jack Chambers: The costs to the State for the Apple case to summer 2024 are approximately €10.3 million of which approximately €4.2 million relates to the recovery process. These fees have been paid by various State entities over the course of the case. It is not possible to estimate the final costs of the case at this time. I would also note that fees paid to investment management and...

Written Answers — Department of Finance: Apple Escrow Account (18 Sep 2024)

Jack Chambers: I assume the Deputy is referring to payments arsing from the recent Court of Justice of the European Union (CJEU) judgment which confirmed the application of the 2016 European Commission's State aid Decision. As the Deputy will be aware, following the Commission's decision Ireland was required to recover the alleged State aid from Apple. The total amount to be recovered was calculated by...

Written Answers — Department of Finance: Tax Collection (18 Sep 2024)

Jack Chambers: I am informed by Revenue that section 851A of the Taxes Consolidation Act 1997 prohibits it from disclosing any information relating to the tax affairs of individual taxpayers. However, as a general statement it is important to realise that tax rulings (or as they are generally referred to in Ireland “opinions/confirmations”) are provided to (i) give certainty to taxpayers as...

Written Answers — Department of Finance: Apple Escrow Account (18 Sep 2024)

Jack Chambers: Information in relation to the Ireland’s legal arguments was published on the Department of Finance website in 2016 and 2020 and remains available at www.gov.ie/en/news/23687a-overview-of-irelands-position-at-t he-oral-hearing-at-the-general-cou/ and www.gov.ie/en/press-release/1ea8e2-ireland-publishes-legal-a rguments-in-apple-state-aid-case/. There is no current intention to...

Written Answers — Department of Finance: Tax Collection (18 Sep 2024)

Jack Chambers: I propose to take Questions Nos. 189 and 190 together. Section 291A of the Taxes Consolidation Act 1997 (TCA) provides relief in the form of capital allowances against trading income on the capital expenditure incurred by companies on the provision of intangible assets for the purposes of a trade. The scheme applies to a broad range of intangible assets (e.g. patents, copyright,...

Written Answers — Department of Finance: Tax Code (18 Sep 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. The VAT Directive obliges that outside of specific historical derogations, a reduced rate of VAT may only be applied to goods and services contained in Annex III of the VAT Directive. It is not possible to apply a reduced VAT rate to hand-woven or hand-knitted products.

Written Answers — Department of Finance: World Bank (18 Sep 2024)

Jack Chambers: Since my appointment in June, I have not yet had to opportunity to speak with Ajay Banga, the President of the World Bank. The IMF/World Bank Group Annual Meetings, which take place next month in Washington D.C., will provide me with an opportunity to meet with President Banga.

Written Answers — Department of Finance: Revenue Commissioners (18 Sep 2024)

Jack Chambers: I propose to take Questions Nos. 193 and 194 together. Revenue’s approach involves the use of advanced analytics and a multiplicity of detection technologies and ensuring the optimum deployment of resources on a risk-focused basis. In that context, I understand that operational requirements and arrangements regarding the deployment and use of detection technology and resources,...

Written Answers — Department of Finance: Tax Code (18 Sep 2024)

Jack Chambers: The importance of indigenous enterprise, in particular small and medium enterprises (SMEs), to the Irish economy is reflected in the Programme for Government commitments. My Department has a number of tax incentives in place to encourage investment in the economy and in particular in indigenous SMEs. These measures help businesses access investment, scale-up and expand, and include the...

Written Answers — Department of Finance: Departmental Reviews (18 Sep 2024)

Jack Chambers: I propose to take Questions Nos. 196 and 197 together. A draft report was submitted to me for consideration in recent weeks and this is in line with the Review’s Terms of the Reference. The review was wide ranging and examined a range of issues relevant to the funds sector. As part of my consideration of the draft report, I will consider the exact timing of the publication of the...

Written Answers — Department of Finance: Tax Reliefs (18 Sep 2024)

Jack Chambers: I am advised by Revenue that it is not possible to estimate the cost of the proposal outlined by the Deputy. As donations below the €250 threshold do not qualify for tax relief they are not declared to Revenue. Accordingly, Revenue has no relevant data from which to estimate the potential cost of removing the threshold.

Written Answers — Department of Finance: Tax Reliefs (18 Sep 2024)

Jack Chambers: This Government has provided a suite of measures to counteract the impact on businesses of increased energy costs including the Increased Cost of Business Scheme (ICOB), the Business Users Support Scheme for Kerosene (BUSSK) and the Ukraine Enterprise Support Scheme which came under the remit of the Minister for Enterprise, Trade and Employment. With regard to measures introduced by my...

Written Answers — Department of Finance: Tax Reliefs (18 Sep 2024)

Jack Chambers: Revised Entrepreneur Relief is provided for in Section 597AA of the Taxes Consolidation Act 1997. It provides for a reduced rate of Capital Gains Tax of ten percent, with a lifetime limit of €1 million of gains on which relief can be claimed. Based on the Ready Reckoner (Ready Reckoner published by the Revenue Commissioners at end-August, the estimated cost of increasing the...

Written Answers — Department of Finance: Departmental Policies (18 Sep 2024)

Jack Chambers: In advance of the Budget, as Minister for Finance I receive a large number of pre-budget submissions on a wide range of issues. All submissions are acknowledged by my Department on receipt. I can confirm the pre-Budget submission to which the Deputy refers was received and an acknowledgment issued on Tuesday, 10 September 2024. The contents will be considered in the context of the...

Written Answers — Department of Finance: Apple Escrow Account (18 Sep 2024)

Jack Chambers: The costs incurred in the State for the Apple case, to summer 2024, are estimated to be approximately €10.3 million of which approximately €4.2 million relates to the recovery process. These fees have been paid by various State entities over the course of the case. It is not possible to estimate the final costs of the case at this time but a tabulated breakdown of expenditure,...

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

Jack Chambers: Residential Zoned Land Tax (RZLT) applies to land zoned for residential development, which also has the necessary services in place for the development of housing. The aim of this tax is to increase the supply of land for building. It will be charged at 3% of the market value of the land every year. It is important to note that landowners will not have to pay the RZLT if they own a dwelling...

Written Answers — Department of Finance: Programme for Government (9 Sep 2024)

Jack Chambers: My Department’s Statement of Strategy reflects the national priorities outlined in the Programme for Government (PfG). In this regard, the Department’s mission is to lead in the achievement of the Government’s economic, fiscal and financial policy goals. In delivering this mission, the Department’s current Statement of Strategy 2023-2025 focuses on the role the...

Written Answers — Department of Finance: Tax Rebates (9 Sep 2024)

Jack Chambers: I am advised by the Revenue Commissioners that if an individual wishes to claim a refund of Capital Acquisitions Tax, they are required to file an amended Capital Acquisitions Tax (“CAT”) return Form IT38. To qualify for a refund of CAT, an individual must file the amended CAT IT38 return within the period of 4 years commencing on 31 December in the year that the tax was due....