Results 1,041-1,060 of 9,563 for speaker:Jack Chambers

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 ...

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...