Results 841-860 of 9,090 for speaker:Jack Chambers

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

Jack Chambers: I assume the Deputy's question relates to Capital Acquisitions Tax (CAT) and the thresholds provided for within CAT as outlined in the details supplied. CAT is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum...

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

Jack Chambers: As the Deputy will be appreciate, it is a longstanding practice of the Minister for Finance not to comment in advance of the Budget on any tax matters which might be the subject of Budget decisions.

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

Jack Chambers: Section 664A of the Taxes Consolidation Act 1997 provides for relief in the form of a deduction for the expenditure on the carbon tax incurred on the purchase of farm diesel. The relief is available to those persons carrying on a trade of farming (an individual or a company) and is not available in respect of expenditure on carbon tax on fuels other than farm diesel. Finance Act 2012 provided...

Written Answers — Department of Finance: Primary Medical Certificates (9 Sep 2024)

Jack Chambers: The Deputy should note at the outset that the Department of Finance has oversight of the Disabled Drivers and Disabled Passengers Scheme (DDS), however the Motorised Transport Grant which has been closed to new applicants since 2013 comes under the aegis of my colleague the Minister for Health. The DDS is open to severely and permanently disabled persons as defined, as a driver or as a...

Written Answers — Department of Finance: Gambling Sector (9 Sep 2024)

Jack Chambers: I am advised by Revenue that under current legislation, the Gaming and Lotteries Act, 1956 (as amended), an operator of gaming machines must apply annually to the District Court for a certificate in respect of a gaming licence. This is required for each premises where it is intended to make gaming machines available for play. Where the District Court grants this certificate, the operator must...

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

Jack Chambers: The Local Property Tax (LPT) was introduced in 2013 to provide a stable and sustainable source of funding for local authorities. For the valuation period 2022-2025, the tax is payable annually on the self-assessed market value of residential properties as of 1 November 2021. The Programme for Government 2020 – “Our Shared Future” – included a commitment to bring...

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

Jack Chambers: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. However some general background information is provided below. Section 121 of the Taxes Consolidation Act (“TCA ”) 1997 provides that where a car is made available for the private use of...

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

Jack Chambers: From 1 January 2023, new rates of benefit-in-kind (BIK) were applied to the provision of an employer provided car, which take into account the CO2 emissions of the car. The amount taxable as a BIK remains determined by the car's original market value (OMV) and the annual business kilometres driven, with new CO2 emissions bands used to determine whether a standard, discounted, or surcharged...

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

Jack Chambers: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Irish Stock Exchange (9 Sep 2024)

Jack Chambers: As the Deputy will be aware, while I have no specific role regarding the performance of the Irish, or international, stock markets or the means (including involving the use of artificial intelligence) by which trading takes place on stock markets. That said, I am mindful of the recent stock price movements during the early August trading period and the various market sentiments that have been...

Written Answers — Department of Finance: Redundancy Payments (9 Sep 2024)

Jack Chambers: The matter of whether a payment made to an individual is a redundancy or termination payment, and a statutory or ex-gratia element of same, depends on the specific circumstances of each individual case and may sometimes give rise to tax implications. The Redundancy Payment Acts 1967 – 2014 impose a statutory obligation on employers to recompense employees dismissed for reasons of...

Written Answers — Department of Finance: Prize Bonds (9 Sep 2024)

Jack Chambers: The National Treasury Management Agency (NTMA) have informed me that the the Prize Bond draw is conducted using a computer based, software-driven, random number generation system. The operation of the Prize Bond scheme including the weekly draw is subject to regular internal and external audit. In addition, a representative of the NTMA attends every draw to review adherence to the operational...

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

Jack Chambers: I propose to take Questions Nos. 328 to 336, inclusive, together. My Department publishes two sets of forecasts each year in the spring and autumn as part of the Stability Programme Update and Budget, respectively. The macroeconomic forecasts incorporate the latest high frequency data, the impact of any revisions, changes in external demand, commodity prices, interest rates etc. as well as...

Written Answers — Department of Finance: Primary Medical Certificates (9 Sep 2024)

Jack Chambers: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme or DDS is no longer fit for purpose and believe it should be replaced with a needs-based, grant-led approach for necessary vehicle adaptations that could serve to improve the functional mobility of the individual. However, this is very much a matter for Government as whilst...

Written Answers — Department of Finance: Revenue Commissioners (9 Sep 2024)

Jack Chambers: I am advised by Revenue that section 141 of Finance Act 2001 provides that Revenue may seize any goods or vehicles that are liable to forfeiture under the excise legislation. The primary offences that these laws relate to are offences regarding Vehicle Registration Tax (VRT), Marked Mineral Oil (MMO). Vehicles may also be seized where they are used as a conveyance for offences relating to...

Written Answers — Department of Finance: Departmental Contracts (9 Sep 2024)

Jack Chambers: I wish to advise the Deputy that the Department of Finance has not engaged the services of BDO Ireland in 2023 or to date in 2024.

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

Jack Chambers: Under the Finance Act 1992, Vehicle Registration Tax (VRT) is assessed on a vehicle at the time of registration in the State and the way it is calculated depends on the category of the vehicle involved. The method of calculating VRT is the same regardless of whether the vehicle is new or has been imported second-hand from another EU Member State or a third country. VRT on Category A vehicles...

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

Jack Chambers: 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, currently 23% in Ireland, unless they fall within categories of goods and services specified in the Directive, in respect of which Member States may apply a lower rate or exemption from...

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

Jack Chambers: The standard rates of stamp duty applying on the purchase of a residential property are 1% on values up to €1 million and 2% on values exceeding €1 million. I am advised by Revenue that there is no currently exemption from stamp duty available on the purchase of a home for a person who is part of any particular ethnic group, including the Traveller ethnic group.

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

Jack Chambers: Section 477C of the Taxes Consolidation Act 1997 (TCA) requires that applicants for the Help to Buy (HTB) scheme must be first-time purchasers, which is defined as: " 'first-time purchaser' means an individual who, at the time of a claim under subsection (3) has not, either individually or jointly with any other person, previously purchased or previously built, directly or indirectly, on his...