Results 1,961-1,980 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Rebates (26 Oct 2023)

Michael McGrath: I am advised by Revenue that Income Tax Returns for the person concerned were filed by an agent, acting on their behalf, on 28 September 2023, for the years 2020 to 2022 inclusive. The resulting overpayments issued to the nominated agent’s bank account on 3 October 2023. On the same date the associated Statements of Liability, which provide a detailed breakdown of the amounts of PAYE,...

Finance (No. 2) Bill 2023: Referral to Select Committee (25 Oct 2023)

Michael McGrath: I move: That the Bill be referred to the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach pursuant to Standing Orders 95(3)(a) and 181(1).

Written Answers — Department of Finance: Departmental Consultations (25 Oct 2023)

Michael McGrath: I wish to inform the Deputy that my Department has not hosted in person or remote briefings on issues from the organisations Transgender Equality Network Ireland (TENI) and BelongTo. The Department of Finance has had a number of staff partake in a Department of Public Expenditure NDP Delivery and Reform (DPENDR) talk on 'Gender Pronouns'hosted by BelongTo on 21st of June 2022 in conjunction...

Written Answers — Department of Finance: State Bodies (25 Oct 2023)

Michael McGrath: Progress has been made on efforts to convene a new Disabled Drivers Medical Board of Appeals (DDMBA), to secure new hosting arrangements for the DDMBA and to recommence the appeals process. I have now formally appointed all five members to the new DDMBA. Funding arrangements between the Department of Finance and the Department of Health have been agreed. On this basis the National...

Written Answers — Department of Finance: Tax Reliefs (25 Oct 2023)

Michael McGrath: This Government is acutely aware of the impact of rising interest rates and mortgage costs on many taxpayers. It is for this reason, I introduced a temporary one-year, targeted form of mortgage interest tax relief as part of Budget 2024. As previously outlined, in reply to Parliamentary Question 104 of the 18 October 2023, it is not possible or desirable for the Government to alleviate the...

Written Answers — Department of Finance: International Agreements (25 Oct 2023)

Michael McGrath: Officials in my Department have been actively considering the report by the Secretary General of the United Nations on possible options for an enhanced role for the UN in international tax matters with a view to improving the inclusivity and effectiveness of global tax rules. Ireland recognises the important role the UN has to play in supporting and enhancing international tax...

Written Answers — Department of Finance: Tax Data (25 Oct 2023)

Michael McGrath: I propose to take Questions Nos. 68 and 69 together. The Tax Debt Warehousing Scheme has offered valuable and practical liquidity support to businesses during the COVID pandemic and continues to support businesses as they recover from the impacts of the pandemic and the current energy crisis. It has assisted businesses with their cash-flow during difficult trading periods, preventing business...

Finance (No. 2) Bill 2023: Second Stage (24 Oct 2023)

Michael McGrath: I move: "That the Bill be now read a Second Time." We are here to start our consideration of the Finance (No. 2) Bill 2023, which will give the necessary legal basis to the decisions announced in the budget and make a number of other necessary changes to tax legislation. I will begin by outlining the aims of the Bill and move on to highlighting certain key measures before discussing the...

Written Answers — Department of Finance: State Bodies (24 Oct 2023)

Michael McGrath: Progress has been made on efforts to convene a new Disabled Drivers Medical Board of Appeals (DDMBA), to secure new hosting arrangements for the DDMBA and to recommence the appeals process. I have now formally appointed all five members to the new DDMBA. Funding arrangements between the Department of Finance and the Department of Health have been agreed. On this basis the National...

Written Answers — Department of Finance: Tax Data (24 Oct 2023)

Michael McGrath: As the Deputy is aware, the Vacant Homes Tax is a new measure announced in Budget 2023, which aims to increase the supply of homes for rent or purchase to meet demand. Legislative provision for the tax was made in the Finance Act 2022. The first chargeable period commenced on 1 November 2022. The first self-assessed returns are due on 7 November this year and the tax will be payable on 1...

Written Answers — Department of Finance: Revenue Commissioners (24 Oct 2023)

Michael McGrath: There has been a very significant increase in the level of Customs declarations submitted to and processed by Revenue, reflecting the reality that the UK is now a 3rd country for Customs purposes. Prior to the UK's exit from the EU, I am advised that Revenue processed approximately 1.5 million import declarations annually. In 2022, Revenue processed approximately 43 million Customs...

Written Answers — Department of Finance: Tax Data (24 Oct 2023)

Michael McGrath: At the end of every year, Revenue makes a Preliminary End of Year Statement available to employees. The Preliminary End of Year Statement sets out a provisional tax position, based on information available on Revenue records. It will show whether an employee has paid the correct amount of Income Tax and Universal Social Charge (USC) for the year. I am advised by Revenue that the final...

Written Answers — Department of Finance: Housing Schemes (24 Oct 2023)

Michael McGrath: 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 of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act 1997 outlines the...

Written Answers — Department of Finance: Tax Credits (24 Oct 2023)

Michael McGrath: Section 114 of the Taxes Consolidation Act 1997 (TCA) provides for a tax deduction in respect of expenses incurred wholly, exclusively and necessarily by an individual in the performance of the duties of his or her employment. The flat rate expense (FRE) regime is operated by Revenue on an administrative basis where both a specific commonality of expenditure exists across an employment...

Written Answers — Department of Finance: State Bodies (24 Oct 2023)

Michael McGrath: I understand that the Deputy is referring to the Infrastructure, Climate and Nature Fund (ICNF), which I announced on Budget day. At a high level, it is intended that the fund will be used for the purpose of providing support for:expenditure by the State in times of significant deterioration in the public finances, andindividual projects that will contribute to the achievement of climate and...

Written Answers — Department of Finance: Tax Code (24 Oct 2023)

Michael McGrath: On 6 April this year I published the terms of reference for a review of Ireland’s funds sector and some related taxation issues. The objective of the review is to ensure that Ireland’s funds sector framework is up to date and fit for purpose in the years ahead, that we can maintain our globally competitive position by supporting long-term growth and a sustainable and resilient...

Written Answers — Department of Finance: Tax Code (24 Oct 2023)

Michael McGrath: I am advised by Revenue that the VAT registration thresholds are subject to the requirements of EU VAT law, with which Irish VAT law must comply. Ireland’s threshold for a business supplying services is €37,500 and our threshold for a business supplying goods is €75,000. Businesses whose annual turnover is below these levels are not obliged to register for VAT, although...

Written Answers — Department of Finance: Tax Code (24 Oct 2023)

Michael McGrath: The Deputy should note that no decision was made in Budget 2024 to reduce the VAT rate on sports and fitness classes. I did give the matter some consideration as amendments to the VAT Directive in 2022 permit a reduced rate to be applied to the supply of sport or physical exercise classes. In addition, Ireland has used a historical derogation to apply a 13.5% rate to care of the human...

Written Answers — Department of Finance: Tax Data (24 Oct 2023)

Michael McGrath: I am informed by Revenue that the data used to estimate the cost of zero-rating VAT on e-books and audiobooks were obtained from the Central Statistics Office (CSO). The CSO’s statistical standards and quality procedures are available on their website. The data were published in the CSO release titled “Household Expenditure on Digital Services 2020”, which estimated...

Written Answers — Department of Finance: Primary Medical Certificates (24 Oct 2023)

Michael McGrath: The final report of the NDIS Transport Working Group's review of mobility and transport supports including the Disabled Drivers and Disabled Passengers Scheme (DDS), endorsed proposals for a modern, fit-for-purpose vehicle adaptation scheme in line with international best practice that would replace the DDS, as it is no longer fit-for-purpose on any and all aspects. The proposals note this...