Results 1,081-1,100 of 9,158 for speaker:Jack Chambers

Written Answers — Department of Finance: Tax Collection (23 Jul 2024)

Jack Chambers: The Deputy may wish to note that a Post-Budget 2024 Ready Reckoner is available on the Revenue website at the following link: An update of the Ready Reckoner is due to issue in the coming weeks. The Ready Reckoner shows a wide range of detailed information, including the estimated cost or yield to the Exchequer of widening the standard tax rate bands. While the Ready Reckoner does not show...

Written Answers — Department of Finance: Tax Collection (23 Jul 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...

Written Answers — Department of Finance: Universal Social Charge (23 Jul 2024)

Jack Chambers: As the Deputy will be aware, the USC yield was c. €5.4 billion in 2023, with a similar yield expected in 2024. The USC is an important source of revenue to the Exchequer to fund public services. In relation to the Deputy’s proposal, I am advised by Revenue that restructuring the USC rates and bands so that only individual income in excess of €100,000 would be subject to...

Written Answers — Department of Finance: Tax Credits (23 Jul 2024)

Jack Chambers: I am advised by Revenue that it is not possible to identify precisely, with the data available for statistical analysis, the number of taxpayers who claimed a credit but did not use all of the value of the credit in offsetting their gross tax liability. My Department has examined the matter of refundable tax credits in the Tax Strategy Group (TSG) process in advance of Budget 2024, and the...

Written Answers — Department of Finance: Revenue Commissioners (11 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 153 and 154 together. I am advised that Revenue has primary responsibility for the prevention, detection, interception and seizure of controlled drugs intended to be smuggled or illegally imported into, or exported from, the State. Revenue’s drugs interdiction strategy supports the Government’s strategic approach to the misuse of drugs under...

Written Answers — Department of Finance: Credit Unions (11 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 155 and 159 together. I thank the Deputy for her questions. Since January 2020 revised Central Bank Lending Regulations were put into effect, and the following concentration limits have applied to credit union house and business lending: Combined house and business lending not to exceed 7.5% of assets of the credit union, with an inner limit of 5% of...

Written Answers — Department of Finance: Credit Availability (11 Jul 2024)

Jack Chambers: The Government is of the view that a competitive, well regulated market is the best way to achieve a sustainable mortgage market which will work in the best interest of the suppliers and consumers of mortgage products over the longer term. While we have had difficulties in maintaining participants in the mortgage market in recent years, with the departure of two banks, nevertheless...

Written Answers — Department of Finance: Credit Unions (11 Jul 2024)

Jack Chambers: The Minimum Competency Code (MCC) sets out minimum professional standards for persons providing certain financial services, in particular when dealing with consumers. The aim is to ensure that consumers obtain a minimum acceptable level of competence from individuals acting for, or on behalf of, regulated firms in the provision of advice and information and associated activities in connection...

Written Answers — Department of Finance: Banking Sector (11 Jul 2024)

Jack Chambers: The Central Credit Register (CCR) is established by the Central Bank of Ireland under the Credit Reporting Act 2013 (the Act). The Act provides a threshold of reporting to the CCR of €500. It also provides that Credit Information Providers (CIPs) must enquire on the CCR when considering a credit application for €2,000 or greater and may enquire when considering credit...

Written Answers — Department of Finance: Credit Unions (11 Jul 2024)

Jack Chambers: The figures for Full Time Equivalents (FTE) staff in the Registry of Credit Unions (the Registry) in each of the years 2011 to 2024 are set out below. Year FTE 2011 (Dec) 39.8 2012 (Dec) 57.8 2013 (Dec) 57.8 2014 (Dec) 57.8 2015 (Dec) 58 ...

Written Answers — Department of Finance: Credit Unions (11 Jul 2024)

Jack Chambers: Credit unions are subject to minimum regulatory reserve requirements under Section 45 of the Credit Union Act, 1997 (the 1997 Act) and the Credit Union Act 1997 (Regulatory Requirements) 2016 (the 2016 Regulations). Regulation 4(1) of the 2016 Regulations provides that: Subject to paragraph (2), a credit union shall establish and maintain a minimum regulatory reserve requirement of at...

Written Answers — Department of Finance: Agriculture Schemes (11 Jul 2024)

Jack Chambers: I assume the Deputy is referring to the relief from Stamp Duty that is provided for by section 81AA of the Stamp Duties Consolidation Act 1999. Section 81AA provides for relief from Stamp Duty in respect of transfers of agricultural land to individuals who come within the definition of “young trained farmer” on the date the deed transferring the land is executed, subject to...

Written Answers — Department of Finance: Customs and Excise (11 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 163 to 166, inclusive, together. I am informed that Revenue has over 500 staff assigned across our ports and airports, working on a 24/7 basis where relevant. Such staff are involved in a range of trade facilitation and enforcement duties. Revenue’s approach involves the use of analytics and detection technologies and ensuring the optimum deployment...

Written Answers — Department of Finance: Banking Sector (11 Jul 2024)

Jack Chambers: I note the Deputy's query in relation to individual savings accounts and investments and whether any changes are being considered in this regard. Last year, on 6 April 2023, former Minister for Finance, Mr. Michael McGrath T.D. published the Terms of Reference for a review of Ireland’s funds sector - ‘Funds Sector 2030: A Framework for Open, Resilient & Developing...

Written Answers — Department of Finance: Credit Unions (11 Jul 2024)

Jack Chambers: I thank the Deputy for raising this issue with me. I am disappointed with the news that these branches are closing, and the impact this could have on the local communities of Kilsaran and Clogherhead in County Louth. However, as the Deputy is aware, as Minister for Finance, I have no legislative basis to intervene in any commercial decisions made by any credit union in the State. Such...

Written Answers — Department of Finance: Tax Code (11 Jul 2024)

Jack Chambers: Magazines are included within the term ‘periodicals’. This includes weekly magazines and sectoral publications covering sport, entertainment, fashion, health, etc. that are published regularly or occasionally. Point (6) of Annex III of the VAT Directive allows for the application of a reduced rate of VAT or zero-rate to periodicals, including magazines. However, the VAT...

Committee on Budgetary Oversight: Summer Economic Statement: Discussion (10 Jul 2024)

Jack Chambers: Good evening. I thank the committee for giving me the opportunity to attend this evening to discuss the summer economic statement which sets out the fiscal parameters-----

Committee on Budgetary Oversight: Summer Economic Statement: Discussion (10 Jul 2024)

Jack Chambers: There are copies available, I believe.

Committee on Budgetary Oversight: Summer Economic Statement: Discussion (10 Jul 2024)

Jack Chambers: Is the Chair happy for me to continue?