Results 13,361-13,380 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: What is the ratio of exports of goods to imports of goods in regard to trade with the UK?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: The value of goods exported was less than that of goods imported.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: I am just trying to get a sense of the overall cost involved. In respect of cross-Border trade, we are looking at a figure of about €230 million. For imports from the United Kingdom, we are looking at an extra €90 million, which brings the figure up to €320 million. We are looking at a figure of about €80 million for exports. That adds up to about €400...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: I appreciate that. The only reason I sought to extrapolate the figure was that it was the first time I had seen an estimate of the cost per movement.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: If we take that into account, it could be significantly less.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: If the United Kingdom leaves the customs union in March 2019 and there is no transitional trade deal in place, what will firms be looking at by way of tariffs? Ms Lynch touched on the matter in her presentation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: The survey of firms by Chartered Accountants Ireland found a poor level of awareness of the requirements firms would face in the event of the United Kingdom leaving the customs union. What practical steps does Mr. Keegan think firms need to take to start preparing properly and inform themselves fully of what the obligations are likely to be? How can the State help in that regard?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: Given the volume of online shopping by Irish customers in the United Kingdom and the level of cross-Border shopping, if the United Kingdom is to be a third country, in the absence of another agreement, what thresholds will apply in day-to-day consumer shopping?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: To clarify, if I go online and buy something from a third country, what VAT and customs rules and thresholds apply?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: In the case of cross-Border shopping, the threshold below which VAT and customs charges would not apply at the point of entry would be €300.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: What arrangements will be in place if somebody has a car boot full of electronics worth a few thousand euro?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: There is a self-declaration system.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: How will online activity be policed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: In the absence of an agreement, online purchases from the United Kingdom by Irish people, valued at over €22, will typically attract VAT at the standard rate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: Purchases valued at over €150 may involve customs duty; goods may or may not be zero rated.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Brexit - Recent Developments and Future Negotiations: Discussion (Resumed) (25 May 2017)

Michael McGrath: The €300 million plus figure excludes trade with the United Kingdom. That figure could multiply.

Written Answers — Department of Finance: State Aid (25 May 2017)

Michael McGrath: 87. To ask the Minister for Finance the timeframe for the collection of payment due to the State arising from the European Court of Justice judgment on a case (details supplied); and if he will make a statement on the matter. [25196/17]

Written Answers — Department of Finance: State Aid (25 May 2017)

Michael McGrath: 88. To ask the Minister for Finance if the European Commission has been in contact with his Department with regard to the collection of payment due to the State arising from the European Court of Justice judgment on a case (details supplied); and if he will make a statement on the matter. [25197/17]

Written Answers — Department of Finance: State Aid (25 May 2017)

Michael McGrath: 89. To ask the Minister for Finance if his Department has assessed the use of interest arising from the escrow account due to hold the payment due to the State arising from the European Court of Justice judgment on a case (details supplied); and if he will make a statement on the matter. [25198/17]

Written Answers — Department of Finance: Property Tax (25 May 2017)

Michael McGrath: 90. To ask the Minister for Finance the status of the implementation of the Thornhill report on local property tax; his plans for the further review of the local property tax; and if he will make a statement on the matter. [25199/17]