Results 101-120 of 15,038 for speaker:Michael McGrath in 'Written Answers'

Written Answers — Department of Finance: Taxi Regulations (13 Jun 2024)

Michael McGrath: I propose to take Questions Nos. 70 and 71 together. The application of VAT to the supply of services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with VAT law, the transport of passengers and their accompanying baggage by taxi drivers is exempt from VAT. However, all other services provided to drivers – such as the provision of taxi booking...

Written Answers — Department of Finance: Tax Data (13 Jun 2024)

Michael McGrath: I propose to take Questions Nos. 72, 73 and 76 together. My Department publishes an Annual Report on Tax Expenditures, identifying a list of all tax expenditures in the Irish tax system, as per the OECD definition of a Tax Expenditure. The latest report, Report on Tax Expenditures 2024, was published last October on Budget Day. A list of the tax expenditures in use between October 2022 and...

Written Answers — Department of Finance: Tax Data (13 Jun 2024)

Michael McGrath: I understand the Deputy is referring to the taxation of carried interest received by certain venture capital managers, as provided for in section 541C of the Taxes Consolidation Act 1997 (‘TCA 1997’). Section 41 of the Finance (No 2) Act 2008 inserted section 541C TCA 1997 and introduced a new tax regime for the return (known as carried interest) received by venture capital...

Written Answers — Department of Finance: Tax Data (13 Jun 2024)

Michael McGrath: An individual who is resident or ordinarily resident, but not domiciled in the State, is taxable on the remittance basis of tax in respect of foreign income and gains. Such individuals pay tax on: (1) Income and gains arising in Ireland, (2) Foreign income which they “remit” or bring into the State, and (3) Foreign gains which they remit into the State where the...

Written Answers — Department of Finance: Tax Data (13 Jun 2024)

Michael McGrath: The Rent Tax Credit (RTC), as provided for in section 473B of the Taxes Consolidation Act 1997, was introduced by Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. For Budget 2024, it was estimated that approximately 400,000 individual persons would be eligible to claim the RTC. It should be noted that RTC claims are made are...

Written Answers — Department of Finance: EU Meetings (12 Jun 2024)

Michael McGrath: In the period requested (27 June 2020 – 7 June 2024) the following meetings of the Economic and Financial Affairs Council (ECOFIN) have taken place: - Physical Virtual Total Formal ECOFIN Meetings 27 4 31 Informal ECOFIN Meetings 8 10 18 ...

Written Answers — Department of Finance: Flexible Work Practices (12 Jun 2024)

Michael McGrath: I wish to inform the Deputy that my Department has achieved the Government mandated public sector remote working target of 20%, in line with Government commitments. My Department launched its Blended Working Policy on 1st July 2022, which was developed in line with the key principles and parameters of the Civil Service Blended Working Policy Framework. However, blended and remote working has...

Written Answers — Department of Finance: Tax Reliefs (12 Jun 2024)

Michael McGrath: The Disabled Drivers & Disabled Passengers Scheme provides relief from VRT and VAT on an adapted car, as well as an exemption from motor tax and an annual fuel grant. Depending on the nature of the Primary Medical Certificate holder as a disabled driver or a disabled passenger, and on the nature of adaptations, the maximum allowable limit of VRT and VAT reliefs provided across four...

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

Michael McGrath: The Help to Buy (“HTB”) incentive, is a scheme administered by Revenue to assist first-time purchasers with the deposit they need to buy or build a new house or apartment to live in as their home. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (“DIRT”) paid in Ireland over the previous four years, subject to limits outlined in the...

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

Michael McGrath: I am advised by Revenue that section 469 of the Taxes Consolidation Act 1997 (TCA 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,...

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

Michael McGrath: The legislation governing the deductibility of expenses incurred in employment is contained in section 114 Taxes Consolidation Act 1997 (TCA). To qualify for tax relief under this section, any expenses of travelling (and subsistence relating to that travel) must be necessarily incurred in the performance of the duties of the relevant employment. For all other expenses, they must be wholly,...

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

Michael McGrath: The Tax Policy Changes document, which was published as part of Budget 2024, set out both the first and full year cost of tax policy measures. Carryover is calculated as the difference between the impact of a measure on a full year and on 2024. The impact of carryover will be reviewed as part of the normal budgetary process, as there are several moving parts to be considered, such as the...

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

Michael McGrath: I am taking this question to refer to the model of Financial Transactions Tax proposed by the European Commission, initially in 2011 and then revised under the EU’s enhanced cooperation procedure in February 2013. The proposed rate on exchanges of shares was 0.1% and the proposed rate for derivative transactions was 0.01%. Ireland already has a tax on financial transactions, a Stamp...

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

Michael McGrath: 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 multinationals being reassigned to other jurisdictions and,...

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

Michael McGrath: As previously outlined , the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under our legislation the provision of medical care services by recognised medical professionals are exempt from VAT. However in order for them to be exempt, there has to be a formal registration process thus explaining why counsellors and...

Written Answers — Department of Finance: Insurance Coverage (11 Jun 2024)

Michael McGrath: At the outset, I wish to reassure the Deputy that I recognise the concerns felt by some sport and recreation clubs regarding insurance cover. Officials from my Department have engaged with representative groups in the sector and have determined that there does not appear to be a widespread issue with market capacity. Notably, last summer, the rebalancing of the Duty of Care—one of the...

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

Michael McGrath: I wish to inform the Deputy that my Department has made available training in unconscious bias open to all staff. This comprised a half day workshop on Unconscious Bias which took place in both 2021 and 2022. This training programme aims to assist staff in recognising their biases and assist in the promotion of equality. The training provider was The Hobbs Consultancy and the cost of the...

Written Answers — Department of Finance: Legislative Measures (11 Jun 2024)

Michael McGrath: The Government legislative priorities for the Oireachtas term running up to the Summer Recess have been published at: . Three Bills which fall under the responsibility of the Department of Finance have been listed in the Priority for Publication list. All legislation in the lists will be progressed, but my officials will continue to prioritise these three Bills in particular. Those three...

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

Michael McGrath: In line with the last number of years, the Stability Programme Update tax revenue projections incorporate an indicative tax package each year from 2025, on the order of €1.1 billion as outlined in Government's medium strategy in the Summer Economic Statement 2023. On a cumulative basis, this equates to c. €3.3 billion from 2025 to 2027. It should be emphasised that this is a...

Written Answers — Department of Finance: Primary Medical Certificates (11 Jun 2024)

Michael McGrath: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme (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...