Results 101-120 of 15,005 for in 'Written Answers' speaker:Michael McGrath

Written Answers — Department of Finance: Overseas Development Aid (11 Jun 2024)

Michael McGrath: As the Deputy may be aware, the Stability Programme Update sets out on a technical, no policy change basis, Ireland’s budgetary projections, including voted expenditure projections, over the forecast horizon (from 2023 to 2027) on an aggregate level. On this basis, the voted expenditure ceilings reflect the 5% growth rate set out in Government's medium-term budgetary strategy. SPU...

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

Michael McGrath: The VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive, farmers can elect whether or not to register for VAT in respect of their farming business, and this affects how VAT incurred on their inputs (such as the purchase of farm equipment) is treated. Farmers who elect to register for VAT are obliged to...

Written Answers — Department of Finance: Tax Exemptions (11 Jun 2024)

Michael McGrath: As the Deputy is aware, the age exemption applies for any year of assessment where an individual is aged 65 years or over and his or her total income does not exceed €18,000 per annum. Where an individual is a married person or civil partner and is jointly assessed to tax, the age exemption will apply where either individual is aged 65 or over and where the couple’s total income...

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

Michael McGrath: As the Deputy is aware, the Tax Debt Warehousing Scheme was introduced in May 2020 to provide a vital liquidity support to businesses impacted by Covid-19 trading restrictions. The scheme allowed businesses to temporarily ‘park’ eligible taxes on an interest-free basis, the vast majority of which related to VAT and payroll taxes deducted by employers from their employees....

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

Michael McGrath: I am advised by Revenue that its Ready Reckoner is available for calculating the annual impact of potential changes in rates of taxation. The Ready Reckoner estimates assume no behavioural change as a result of the additional price increases. This data is available on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/ready-reckoner/index.aspx. With...

Written Answers — Department of Finance: Departmental Programmes (11 Jun 2024)

Michael McGrath: The NTMA has informed me that the Ireland Strategic Investment Fund (“ISIF”) carefully evaluated for a number of years ways in which it could invest on a commercial basis to support the development of new film studio infrastructure in Ireland in light of the increasing demand for film studio infrastructure globally, Ireland’s attractiveness as a location for producing...

Written Answers — Department of Finance: Departmental Data (11 Jun 2024)

Michael McGrath: I am advised by Revenue that the table below presents a geographical breakdown of the total number of approved Help to Buy claims. The table outlines the number of approved claims as well as total and average claim amount (payments) as of 6 June 2024. County Number Claim Amount (€m) Average Claim Amount (nearest hundred) Carlow 481 9.5 19,700 ...

Written Answers — Department of Finance: Housing Schemes (11 Jun 2024)

Michael McGrath: In relation to the Deputy's query about the of lowering the LTV ratio for the Help to Buy Scheme, the position remains as set out in my answer to Parliamentary Question no. 183 of 7 December 2023 and my answer to Parliamentary Question No. 218 of 16 April 2024 and I have no plans to change the LTV ratio as proposed. Notwithstanding this, it should be noted that decisions regarding taxation...

Written Answers — Department of Finance: Departmental Contracts (11 Jun 2024)

Michael McGrath: The ‘National Public Procurement Policy Framework’ issued by the Office of Government Procurement (OGP) sets out the procurement procedures to be followed by government departments and state bodies in accordance with EU rules and national guidelines. In addition, my Department has its own internal policy and guidance documents to assist staff to comply with all procurement...

Written Answers — Department of Finance: Universal Social Charge (11 Jun 2024)

Michael McGrath: Individuals who hold a full medical card with total income of €60,000 per annum or less may benefit from reduced rates of Universal Social Charge (USC). To qualify for the reduced USC rates the individual does not need to hold the medical card for the full year, the reduced rates apply once the individual holds a full medical card for any period during the year. The reduced rates of...

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

Michael McGrath: The VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive, farmers can elect whether or not to register for VAT in respect of their farming business, and each farmer’s decision on this matter affects how VAT incurred on their inputs (such as the purchase of farm equipment) is treated. Under VAT law,...

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

Michael McGrath: I am advised by Revenue that the ownership of the property concerned was updated on 8 February 2024 to reflect the individual as the designated liable person of the property for Local Property Tax (LPT) purposes. Revenue have confirmed that LPT payments and returns have been received for all years and the LPT property record is in order. Should the person concerned have any further queries...

Written Answers — Department of Finance: Tax Data (11 Jun 2024)

Michael McGrath: At the time of Budget 2024 the residential premises rental income relief was estimated to cost €45 million in 2024, rising to €160 million in 2027. The estimated cash cost of this measure at Budget time is reflected in the no-policy-change Stability Programme Update projections for tax revenue, as set out in the table below. - 2025 2026 2027 cost €m...

Written Answers — Department of Finance: Tax Data (11 Jun 2024)

Michael McGrath: I am advised by Revenue that a breakdown of Betting Duty receipts is published on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/excise/betting-duty/index.aspx. The published data are to the end of April 2024. I am further advised by Revenue that betting duty returns and payments are due quarterly, and the data are published on this basis.

Written Answers — Department of Finance: Tax Credits (11 Jun 2024)

Michael McGrath: Based on Revenue’s latest Ready Reckoner (post-Budget 2024), the estimated cost to the Exchequer of increasing the Single Person Child Carer Credit from €1,750 to €1,950 per annum is approximately €10.4 million on a first year basis and €12.0 million on a full year basis. I would draw the Deputy's attention to the fact that the post-Budget 2024 Ready...

Written Answers — Department of Finance: Tax Data (30 May 2024)

Michael McGrath: I am advised by Revenue that the receipts collected in respect of Fuel Taxes in each of the past ten years up to 2022 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. The receipts for 2023 and the provisional receipts for the year to April 2024 are shown in the...

Written Answers — Department of Finance: Fiscal Policy (30 May 2024)

Michael McGrath: I propose to take Questions Nos. 159 and 160 together. In October 2021, Ireland, along with more than 135 other countries, signed up to the two-pillar solution to address the tax challenges arising from digitalisation. Discussions remain on-going at the OECD on a number of key elements of Pillar One which, once agreed, would involve a portion of taxable profits from Irish-based...

Written Answers — Department of Finance: Primary Medical Certificates (30 May 2024)

Michael McGrath: The Deputy should note that I have no role in relation to the granting or refusal of Primary Medical Certificates or Board Medical Certificates. The HSE and the Disabled Drivers Medical Board of Appeal (DDMBA) are independent in their clinical determinations. At an appeal hearing the Board reviews the decision by a HSE Primary/Principal Medical Officer and determines if an appellant does,...

Written Answers — Department of Finance: Tax Data (29 May 2024)

Michael McGrath: The Vacant Homes Tax (VHT) as announced in Budget 2023, aims to increase the supply of homes for rent or purchase to meet demand. Legislative provision for the tax was made in the Finance Act 2022 and states that a residential property will be within the scope of VHT, if it has been occupied as a dwelling for less than 30 days in a chargeable period. VHT operates on a self-assessment...

Written Answers — Department of Finance: Tax Data (29 May 2024)

Michael McGrath: The Residential Zoned Land Tax (RZLT) is a new tax introduced in Finance Act 2021 which seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for housing, rather than to raise revenue. ...