Results 1,701-1,720 of 9,563 for speaker:Jack Chambers

Written Answers — Department of Finance: Fiscal Policy (4 Jul 2024)

Jack Chambers: As the Deputy will be aware, institutions established under the Good Friday Agreement are key to north-south co-operation and the promotion of peace and prosperity across Ireland. With thanks to the restoration of both the Northern Ireland Executive and the Northern Ireland Assembly, the North-South Ministerial Council (NSMC) met for the first time in a number of years in early April. My...

Written Answers — Department of Finance: Economic Growth (4 Jul 2024)

Jack Chambers: The domestic economy displayed solid growth in the first quarter of this year. Modified domestic demand (MDD) – my preferred measure of domestic activity – increased by 1.4 per cent in the first quarter. Irish exports appear to have turned a corner, growing by 7 per cent in the first quarter of 2024. This represents the first quarter of positive export growth in five quarters. ...

Written Answers — Department of Finance: Tax Data (3 Jul 2024)

Jack Chambers: I am advised by Revenue that as of 28 June 2024, the number of approved Help to Buy (HTB) claims, the number of applicants associated with these claims and the number of approved HTB claims in respect of the purchase of new houses or apartments, that were approved on or after 1 July 2020, broken down by county, are as set out in the table below: Property County All...

Written Answers — Department of Finance: Customs and Excise (3 Jul 2024)

Jack Chambers: In light of public health interests, continuing delays to the revision of the Tobacco Products Tax EU Directive and the Programme for Government commitment to tax e-cigarettes and vapes, it was announced last year that a domestic tax on e-cigarettes and vaping products will be introduced as part of this year’s Budget. My officials are preparing legislation for the introduction of a...

Written Answers — Department of Finance: Tax Data (3 Jul 2024)

Jack Chambers: I am advised by Revenue that traders are not required to separately identify the VAT yield from specific activities, therefore it is not possible to estimate the cost of a VAT reduction for the food-led hospitality sector using tax information alone. To calculate an estimate, Revenue uses both taxpayer returns and third party macro-economic data provided to Revenue by the Central...

Written Answers — Department of Finance: Tax Code (3 Jul 2024)

Jack Chambers: As the Deputy is aware, the age exemption applies for any year of assessment where an individual is aged 65 years or over and his or her total income does not exceed €18,000 per annum. Where an individual is a married person or civil partner and is jointly assessed to tax, the age exemption will apply where either individual is aged 65 or over and where the couple’s total income...

Written Answers — Department of Finance: Tax Reliefs (3 Jul 2024)

Jack Chambers: Ireland’s long-standing section 481 film tax credit provides relief in the form of a corporation tax credit related to the cost of production of certain audio-visual productions, including costs incurred on visual effects (VFX). The scheme is intended to act as a stimulus to the creation of an indigenous film industry in the State, creating quality employment opportunities and...

Written Answers — Department of Finance: Financial Services (3 Jul 2024)

Jack Chambers: I should say that as competent authority, the European Central Bank (ECB) is required to carry out annual stress tests on Significant Supervised Institutions (SSI), which includes Bank of Ireland and AIB, in the context of its Supervisory Review and Evaluation Process (SREP) as set out in Article 100 of the Capital Requirements Directive IV (CRD IV). Supervisory Review and Evaluation...

Written Answers — Department of Finance: State Bodies (3 Jul 2024)

Jack Chambers: In June 2023, the terms of reference for a National Payments Strategy (NPS) were published, and work on the NPS has commenced. The work of the NPS will take account of the changing payment landscape and ongoing legislative developments at EU level, including proposals on instant payments, payment services, legal tender and the digital euro. Access to cash and acceptance of cash is also being...

Written Answers — Department of Finance: Customs and Excise (3 Jul 2024)

Jack Chambers: Under EU law, manufacturers or importers of cigarettes are free to determine the maximum retail selling price for each of their products. It is not possible, therefore, for a Member State to direct companies as to the price at which cigarettes are to be sold. EU law imposes certain obligations on Members States on the way in which the rates and structure of tobacco products tax operate....

Written Answers — Department of Finance: Credit Unions (3 Jul 2024)

Jack Chambers: Nomination is a unique provision available only for credit union members. By way of background, nomination is a legally binding agreement under which a credit union member can nominate a third party to be the recipient of the member’s money after their death, up to a limit of €27,000. The effects of nomination are that any amounts up to €27,000 will pass outside the terms...

Written Answers — Department of Finance: Financial Services (3 Jul 2024)

Jack Chambers: The Central Bank of Ireland is responsible for regulating and supervising the providers of mortgage and other credit by regulated financial services providers to consumers. The Central Bank sets out macro-prudential and consumer protection requirements which have the objective of protecting overall financial stability and the interests of consumers. In line with this mandate, the...

Written Answers — Department of Transport, Tourism and Sport: Rail Network (2 Jul 2024)

Jack Chambers: As Minister for Transport, I have responsibility for policy and overall funding in relation to public transport. The National Transport Authority (NTA) has responsibility for the planning and development of public transport infrastructure, including the upgrade of and passing loop at Oranmore train station. Noting the NTA's responsibility in the matter, I have referred the Deputy's...

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. ...