Results 1,301-1,320 of 9,563 for speaker:Jack Chambers

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

Jack Chambers: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. The VAT Directive obliges that outside of specific historical derogations, a reduced rate of VAT may only be applied to goods and services contained in Annex III of the VAT Directive. It is not possible to apply a reduced VAT rate to hand-woven or hand-knitted products.

Written Answers — Department of Finance: World Bank (18 Sep 2024)

Jack Chambers: Since my appointment in June, I have not yet had to opportunity to speak with Ajay Banga, the President of the World Bank. The IMF/World Bank Group Annual Meetings, which take place next month in Washington D.C., will provide me with an opportunity to meet with President Banga.

Written Answers — Department of Finance: Revenue Commissioners (18 Sep 2024)

Jack Chambers: I propose to take Questions Nos. 193 and 194 together. Revenue’s approach involves the use of advanced analytics and a multiplicity of detection technologies and ensuring the optimum deployment of resources on a risk-focused basis. In that context, I understand that operational requirements and arrangements regarding the deployment and use of detection technology and resources,...

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

Jack Chambers: The importance of indigenous enterprise, in particular small and medium enterprises (SMEs), to the Irish economy is reflected in the Programme for Government commitments. My Department has a number of tax incentives in place to encourage investment in the economy and in particular in indigenous SMEs. These measures help businesses access investment, scale-up and expand, and include the...

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

Jack Chambers: I propose to take Questions Nos. 196 and 197 together. A draft report was submitted to me for consideration in recent weeks and this is in line with the Review’s Terms of the Reference. The review was wide ranging and examined a range of issues relevant to the funds sector. As part of my consideration of the draft report, I will consider the exact timing of the publication of the...

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

Jack Chambers: I am advised by Revenue that it is not possible to estimate the cost of the proposal outlined by the Deputy. As donations below the €250 threshold do not qualify for tax relief they are not declared to Revenue. Accordingly, Revenue has no relevant data from which to estimate the potential cost of removing the threshold.

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...