Results 1,241-1,260 of 9,090 for speaker:Jack Chambers

Written Answers — Department of Finance: Fiscal Policy (2 Jul 2024)

Jack Chambers: The successive shocks which have hit the global economy in recent years continue to be felt. While there are positive developments, such as a possible inflection point reached in the global interest rate cycle as markets expect rates to begin falling, many debtor countries continue to experience challenges which is concerning. Ireland is a strong supporter of the work of multilateral...

Written Answers — Department of Finance: Departmental Funding (2 Jul 2024)

Jack Chambers: The NTMA has confirmed to me that the Ireland Strategic Investment Fund (ISIF) is not, and has never been, an investor in Troy Studios in Limerick.

Written Answers — Department of Finance: Tax Code (2 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 174 and 178 together. On 6 April 2023, the Minister for Finance published the Terms of Reference for a Review of the Funds Sector in Ireland ("Funds Sector 2030: A Framework for Open, Resilient & Developing Markets"). As per the Terms of Reference, and following on from the recommendation of the Commission on Taxation and Welfare, the Funds Review...

Written Answers — Department of Finance: Tax Reliefs (2 Jul 2024)

Jack Chambers: Where a person receives a gift or inheritance of property, they may have to pay Capital Acquisitions Tax (CAT) on the value of the gift or inheritance received. For CAT purposes, the relationship between the disponer (the person who provides the gift or inheritance) and the beneficiary determines the maximum amount, known as the Group threshold, below which CAT does not arise. Any prior...

Written Answers — Department of Finance: Tax Exemptions (2 Jul 2024)

Jack Chambers: Capital Acquisitions Tax (CAT) is a tax on gifts and inheritances that is payable by the beneficiary of the gift or inheritance on the value of the property received. The relationship between the person giving a gift or inheritance and the beneficiary determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. Any prior gift or...

Written Answers — Department of Finance: Question Heading for question(s) 177 (2 Jul 2024)

Jack Chambers: Where a person receives a gift or inheritance of property, they may have to pay Capital Acquisitions Tax (CAT) on the value of the gift or inheritance received, after allowing for the application of the relevant Group threshold. For CAT purposes, the relationship between the disponer (the person who provides the gift or inheritance) and the beneficiary determines the maximum amount, known...

Written Answers — Department of Finance: Departmental Policies (2 Jul 2024)

Jack Chambers: Since the formation of the Government on 27 June 2020, the Department of Finance has delivered a number of policy achievements which include: Budget 2021, 2022, 2023 and 2024 The unforeseen challenges of Ukraine, the ongoing recovery from the pandemic and the continuing fallout from Brexit were addressed from a position of strength with record levels of employment and a budget surplus. ...

Written Answers — Department of Finance: Insurance Industry (2 Jul 2024)

Jack Chambers: It is important to clarify that neither I nor the Central Bank of Ireland have the authority to dictate insurance pricing or product offerings, as these are commercial decisions made by individual companies, governed by the EU Single Market framework for insurance (the Solvency II Directive). More specifically relating to your question, insurers assess Income Protection claims based on...

Written Answers — Department of Finance: Tax Code (2 Jul 2024)

Jack Chambers: Interest may be received without paying DIRT in certain circumstances. For those aged 65 or over, a declaration form must be completed stating that the individual, their spouse or civil partner, are 65 years of age or over when making the declaration and that their total income for the year, including the interest, must be below the annual exemption limit. As the Deputy is aware, the age...

Written Answers — Department of Finance: Housing Schemes (2 Jul 2024)

Jack Chambers: I am advised by Revenue that the situation has not changed in regards to the Help to Buy application in question no. 227 of 16 April 2024. The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax paid in the State over the...

Written Answers — Department of Finance: Revenue Commissioners (2 Jul 2024)

Jack Chambers: At the outset, it should be noted that the HERCULE III was superseded by the European Union Anti-Fraud Programme (EUAF) in 2021. The EUAF will run from 2021-2027. I am advised by Revenue that x-ray scanners and maritime cutters, which are an integral component of its response framework targeting fraud, illicit trade, smuggling and organised crime, are just one component of a suite of...

Written Answers — Department of Finance: Universal Social Charge (2 Jul 2024)

Jack Chambers: I am advised by Revenue that the estimated cost to the Exchequer on a first and full year basis for the proposal outlined by the Deputy would be of the order of €685 million and €785 million respectively. A reduced USC rate of 2% currently applies for those aged 70 years or older with income of €60,000 or less and for those who hold a full medical card with income of...

Written Answers — Department of Finance: Tax Code (2 Jul 2024)

Jack Chambers: For Capital Acquisitions Tax (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 amount, known as the “Group threshold”, below which CAT does not arise. The Group A threshold (currently €335,000) applies, inter alia, where the beneficiary is a...

Written Answers — Department of Finance: Tax Reliefs (2 Jul 2024)

Jack Chambers: I am advised by Revenue that the annual cost of the tax relief on approved training courses or third level education fees is set out in the Costs of Tax Expenditures publication, which is available on the Revenue website at www.revenue.ie/en/corporate/information-about-revenue/statis tics/tax-expenditures/costs-expenditures.aspx (see ‘Approved Training Courses/Third Level Education...

Written Answers — Department of Finance: Financial Services (27 Jun 2024)

Jack Chambers: The Central Bank advises that the company referred to by the Deputy is authorised by it as a retail credit firm (RCF) and that RCFs are required to comply with all the relevant requirements of financial services legislation, including the regulatory requirements set out in the Central Bank's existing codes of conduct and regulations. These include: the Consumer Protection Code 2012, the...

Written Answers — Department of Finance: Tax Data (26 Jun 2024)

Jack Chambers: I am advised by Revenue that as of 24 June 2024, the number of approved Help to Buy (HTB) claims in respect of the purchase of new houses or apartments that were approved on or after 1 July 2020, are set out in the table below, broken down by county. Property County Number of Approved Claims Carlow 213 Cavan 115 ...

Written Answers — Department of Finance: Tax Data (26 Jun 2024)

Jack Chambers: The Rent Tax Credit (RTC), as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. I am advised by Revenue that the RTC statistics currently available refer only to PAYE taxpayers. Data on self-assessed taxpayers are not yet...

Written Answers — Department of Finance: Tax Clearance Certificates (26 Jun 2024)

Jack Chambers: Revenue has advised me that the person concerned applied for tax clearance in April 2022 for the purposes of applying for grant payments. Following that application, the person held tax clearance until November 2022, when it was withdrawn due to an outstanding payment for Local Property Tax at that time. I am further informed by Revenue that no further applications for tax clearance have...

Written Answers — Department of Finance: Insurance Coverage (26 Jun 2024)

Jack Chambers: Firstly, it's important to clarify that neither I nor the Central Bank of Ireland have the authority to dictate insurance pricing or product offerings, as these are commercial decisions made by individual companies, governed by the EU Single Market framework for insurance (the Solvency II Directive). In terms of motor insurance, firms use various rating factors when deciding whether to...

Written Answers — Department of Finance: Middle East (26 Jun 2024)

Jack Chambers: I propose to take Questions Nos. 33 and 34 together. The Deputy may wish to note that Section 42 of the Criminal Justice (Terrorist Offences) Act 2005 enables the Minister of Finance to make regulations for enabling provisions of acts to which this section applies to have full effect. This section of the 2005 Act applies solely to acts that are adopted by the EU, and that, in the opinion of...