Results 1,281-1,300 of 9,537 for speaker:Jack Chambers

Written Answers — Department of Finance: Tax Reliefs (18 Sep 2024)

Jack Chambers: This Government has provided a suite of measures to counteract the impact on businesses of increased energy costs including the Increased Cost of Business Scheme (ICOB), the Business Users Support Scheme for Kerosene (BUSSK) and the Ukraine Enterprise Support Scheme which came under the remit of the Minister for Enterprise, Trade and Employment. With regard to measures introduced by my...

Written Answers — Department of Finance: Tax Reliefs (18 Sep 2024)

Jack Chambers: Revised Entrepreneur Relief is provided for in Section 597AA of the Taxes Consolidation Act 1997. It provides for a reduced rate of Capital Gains Tax of ten percent, with a lifetime limit of €1 million of gains on which relief can be claimed. Based on the Ready Reckoner (Ready Reckoner published by the Revenue Commissioners at end-August, the estimated cost of increasing the...

Written Answers — Department of Finance: Departmental Policies (18 Sep 2024)

Jack Chambers: In advance of the Budget, as Minister for Finance I receive a large number of pre-budget submissions on a wide range of issues. All submissions are acknowledged by my Department on receipt. I can confirm the pre-Budget submission to which the Deputy refers was received and an acknowledgment issued on Tuesday, 10 September 2024. The contents will be considered in the context of the...

Written Answers — Department of Finance: Apple Escrow Account (18 Sep 2024)

Jack Chambers: The costs incurred in the State for the Apple case, to summer 2024, are estimated to be approximately €10.3 million of which approximately €4.2 million relates to the recovery process. These fees have been paid by various State entities over the course of the case. It is not possible to estimate the final costs of the case at this time but a tabulated breakdown of expenditure,...

Written Answers — Department of Finance: Tax Code (9 Sep 2024)

Jack Chambers: Residential Zoned Land Tax (RZLT) applies to land zoned for residential development, which also has the necessary services in place for the development of housing. The aim of this tax is to increase the supply of land for building. It will be charged at 3% of the market value of the land every year. It is important to note that landowners will not have to pay the RZLT if they own a dwelling...

Written Answers — Department of Finance: Programme for Government (9 Sep 2024)

Jack Chambers: My Department’s Statement of Strategy reflects the national priorities outlined in the Programme for Government (PfG). In this regard, the Department’s mission is to lead in the achievement of the Government’s economic, fiscal and financial policy goals. In delivering this mission, the Department’s current Statement of Strategy 2023-2025 focuses on the role the...

Written Answers — Department of Finance: Tax Rebates (9 Sep 2024)

Jack Chambers: I am advised by the Revenue Commissioners that if an individual wishes to claim a refund of Capital Acquisitions Tax, they are required to file an amended Capital Acquisitions Tax (“CAT”) return Form IT38. To qualify for a refund of CAT, an individual must file the amended CAT IT38 return within the period of 4 years commencing on 31 December in the year that the tax was due....

Written Answers — Department of Finance: Tax Code (9 Sep 2024)

Jack Chambers: I assume the Deputy's question relates to Capital Acquisitions Tax (CAT) and the thresholds provided for within CAT as outlined in the details supplied. CAT is a tax which applies to both gifts and inheritances. For 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...

Written Answers — Department of Finance: Tax Reliefs (9 Sep 2024)

Jack Chambers: As the Deputy will be appreciate, it is a longstanding practice of the Minister for Finance not to comment in advance of the Budget on any tax matters which might be the subject of Budget decisions.

Written Answers — Department of Finance: Tax Reliefs (9 Sep 2024)

Jack Chambers: Section 664A of the Taxes Consolidation Act 1997 provides for relief in the form of a deduction for the expenditure on the carbon tax incurred on the purchase of farm diesel. The relief is available to those persons carrying on a trade of farming (an individual or a company) and is not available in respect of expenditure on carbon tax on fuels other than farm diesel. Finance Act 2012 provided...

Written Answers — Department of Finance: Primary Medical Certificates (9 Sep 2024)

Jack Chambers: The Deputy should note at the outset that the Department of Finance has oversight of the Disabled Drivers and Disabled Passengers Scheme (DDS), however the Motorised Transport Grant which has been closed to new applicants since 2013 comes under the aegis of my colleague the Minister for Health. The DDS is open to severely and permanently disabled persons as defined, as a driver or as a...

Written Answers — Department of Finance: Gambling Sector (9 Sep 2024)

Jack Chambers: I am advised by Revenue that under current legislation, the Gaming and Lotteries Act, 1956 (as amended), an operator of gaming machines must apply annually to the District Court for a certificate in respect of a gaming licence. This is required for each premises where it is intended to make gaming machines available for play. Where the District Court grants this certificate, the operator must...

Written Answers — Department of Finance: Tax Code (9 Sep 2024)

Jack Chambers: The Local Property Tax (LPT) was introduced in 2013 to provide a stable and sustainable source of funding for local authorities. For the valuation period 2022-2025, the tax is payable annually on the self-assessed market value of residential properties as of 1 November 2021. The Programme for Government 2020 – “Our Shared Future” – included a commitment to bring...

Written Answers — Department of Finance: Tax Reliefs (9 Sep 2024)

Jack Chambers: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. However some general background information is provided below. Section 121 of the Taxes Consolidation Act (“TCA ”) 1997 provides that where a car is made available for the private use of...

Written Answers — Department of Finance: Tax Reliefs (9 Sep 2024)

Jack Chambers: From 1 January 2023, new rates of benefit-in-kind (BIK) were applied to the provision of an employer provided car, which take into account the CO2 emissions of the car. The amount taxable as a BIK remains determined by the car's original market value (OMV) and the annual business kilometres driven, with new CO2 emissions bands used to determine whether a standard, discounted, or surcharged...

Written Answers — Department of Finance: Tax Reliefs (9 Sep 2024)

Jack Chambers: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Irish Stock Exchange (9 Sep 2024)

Jack Chambers: As the Deputy will be aware, while I have no specific role regarding the performance of the Irish, or international, stock markets or the means (including involving the use of artificial intelligence) by which trading takes place on stock markets. That said, I am mindful of the recent stock price movements during the early August trading period and the various market sentiments that have been...

Written Answers — Department of Finance: Redundancy Payments (9 Sep 2024)

Jack Chambers: The matter of whether a payment made to an individual is a redundancy or termination payment, and a statutory or ex-gratia element of same, depends on the specific circumstances of each individual case and may sometimes give rise to tax implications. The Redundancy Payment Acts 1967 – 2014 impose a statutory obligation on employers to recompense employees dismissed for reasons of...

Written Answers — Department of Finance: Prize Bonds (9 Sep 2024)

Jack Chambers: The National Treasury Management Agency (NTMA) have informed me that the the Prize Bond draw is conducted using a computer based, software-driven, random number generation system. The operation of the Prize Bond scheme including the weekly draw is subject to regular internal and external audit. In addition, a representative of the NTMA attends every draw to review adherence to the operational...

Written Answers — Department of Finance: Tax Yield (9 Sep 2024)

Jack Chambers: I propose to take Questions Nos. 328 to 336, inclusive, together. My Department publishes two sets of forecasts each year in the spring and autumn as part of the Stability Programme Update and Budget, respectively. The macroeconomic forecasts incorporate the latest high frequency data, the impact of any revisions, changes in external demand, commodity prices, interest rates etc. as well as...