Results 1,721-1,740 of 9,563 for speaker:Jack Chambers

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Jack Chambers: At the outset, it should be noted that the HERCULE III was superseded by the European Union Anti-Fraud Programme (EUAF) in 2021.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...

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

Jack Chambers: The Committee on Budgetary Oversight published its report examining the Report of the Commission on Taxation and Welfare in September 2023. The committee’s report makes 40 recommendations that further build on some of the issues dealt with by the Commission’s report. The Commission’s report sets out that the recommendations are not intended to be implemented all at...

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

Jack Chambers: I note the Deputy's query in relation to the taxation of individuals savings and investments and whether any changes are being considered in this regard. As with all areas of tax policy, the taxation of savings and investments will be kept under review throughout the annual budgetary and Finance Bill process. As regards the Deputy's comments in relation to individual savings schemes. The...

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

Jack Chambers: As the Deputy will be aware, the 9 per cent VAT rate was applied on a temporary basis to the hospitality and tourism sectors until 31 August 2023 when it reverted to the 13.5 per cent rate. The 9 per cent rate was introduced on 1 November 2020 in recognition of the fact that the tourism and hospitality sectors were among those most impacted by the public health restrictions put in place...

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

Jack Chambers: I propose to take Questions Nos. 38, 39 and 40 together. Where an individual is engaged under a contract of service, i.e. as an employee, he or she is taxable under Schedule E, and income tax, USC and PRSI is deducted from their employment income through their employer’s payroll system on or before when a payment is made (the PAYE system). For the avoidance of doubt, “office...

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

Jack Chambers: As a small open economy, connected to Europe, the US and the wider world, Ireland is committed to a competitive, transparent and stable corporation tax system. As the Deputy will be aware, the trading profits of companies in Ireland are generally taxed at the standard corporation tax rate of 12.5%, and under the Pillar Two Minimum Tax Directive the effective rate has increased to 15% for...

Written Answers — Department of Transport, Tourism and Sport: Air Services (25 Jun 2024)

Jack Chambers: As the Deputy will be aware the current Public Service Obligation (PSO) air service contract in place on the Donegal/Dublin route provides twice daily two-way air services. This Exchequer funded service, facilitating same day return trips from Donegal and further international connectivity from Dublin Airport, marks Government’s commitment to ensuring continued connectivity to this...

Written Answers — Department of Transport, Tourism and Sport: Driver Test (25 Jun 2024)

Jack Chambers: Under the Road Safety Authority Act 2006, the operation of the National Driver Testing Service is the statutory responsibility of the Road Safety Authority (RSA) and the information requested relating to Driver Testing centres in Mayo is held by that organisation. I have therefore referred those specific questions to the RSA for direct reply. I would ask the Deputy to contact my office if a...