Results 341-360 of 27,519 for speaker:Michael McGrath

Written Answers — Department of Finance: Revenue Commissioners (29 Feb 2024)

Michael McGrath: I am advised by Revenue that it carried out twelve planned and six unplanned visits to Weston Airport in 2004. Given the passage of time, the start and end dates and the names of the operations, if any, are not available.

Written Answers — Department of Finance: Motor Fuels (28 Feb 2024)

Michael McGrath: As the Deputy will be aware, in 2022 in light of the acute impact rising prices were having on households and business, Government provided for excise rate reductions in the order of 21, 16 and 5.4 cent per litre on petrol, diesel and Marked Gas Oil (MGO) respectively. These temporary reductions were due to end initially on 31 August 2022 but following review and monitoring of fuel prices...

Written Answers — Department of Finance: Prize Bonds (28 Feb 2024)

Michael McGrath: In answer to the Deputy's question the National Treasury Management Agency (NTMA) have provided me with the attached table detailing prize bonds from 2014 to date. NTMA Response to PQ 9464/24 The total value of funds invested in Prize Bonds in each year from 2014 to date; the total value of prizes won in the same period and the total value of prizes won from 2014 to date expressed as a...

Written Answers — Department of Finance: Tax Yield (28 Feb 2024)

Michael McGrath: I am advised by Revenue that, based on stamp duty returns for 2023, the latest year for which fully analysed data are available, the estimated cost of abolishing stamp duty for first-time buyers of homes of less than €385,000 is in the order of €31 million. This estimate is arrived at by taking the stamp duty returns for residential property purchases made by persons...

Written Answers — Department of Finance: Vehicle Registration Tax (28 Feb 2024)

Michael McGrath: I am advised by Revenue that a VRT late charge is calculated when a vehicle has not been registered within the specified time limit of 30 days. The total amount of VRT due and payable is increased by the addition of the VRT late charge. The VRT late charge is calculated using the formula A x P x N, where ‘A’ is the amount of vehicle registration tax calculated,...

Written Answers — Department of Finance: State Bodies (28 Feb 2024)

Michael McGrath: The Financial Services and Pensions Ombudsman (FSPO) is an important part of the robust consumer protection framework in place for consumers of financial services and products in Ireland. It is committed to providing a receptive service that is delivered in an accessible and inclusive manner, responsive to the needs of its customers. The FSPO has informed me that it understands the...

Written Answers — Department of Finance: Revenue Commissioners (28 Feb 2024)

Michael McGrath: Revenue’s role in the area of the determination of employment status is to determine the employment status of an individual for income tax purposes. Meanwhile responsibility for PRSI classification rests with the Department of Social Protection and matters relating to workers’ rights fall within the remit of the Workplace Relations Commission (WRC), which operates under the...

Written Answers — Department of Finance: Tax Code (28 Feb 2024)

Michael McGrath: When a vehicle is brought into an EU Member State, a liability to VAT may arise depending on the place from which the vehicle is coming and whether the vehicle is regarded as new. As regards the movement of vehicles between Member States, VAT arises where a vehicle falls within the meaning of a “new means of transport”, which is a vehicle which is 6 months old or less, or has...

Written Answers — Department of Finance: Tax Code (27 Feb 2024)

Michael McGrath: I am advised by Revenue that neither the Land Development Agency (LDA) nor approved housing bodies (AHBs) are specifically exempted from corporation tax on rental income. However, as outlined in my reply to the Deputy’s PQ 4840/24 on 1 February, if an AHB has the charitable tax exemption, section 207 Taxes Consolidation Act 1997 (TCA) exempts from tax rental income “vested in...

Written Answers — Department of Finance: Insurance Coverage (27 Feb 2024)

Michael McGrath: The Department of Transport has responsibility for the legislative requirement regarding compulsory motor third party insurance in Ireland. It is also important to note that neither I as Minister for Finance, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products. This position is reinforced by the EU framework for insurance (the Solvency II...

Written Answers — Department of Finance: Student Accommodation (27 Feb 2024)

Michael McGrath: The NTMA has informed me that the Ireland Strategic Investment Fund (ISIF) is a commercial investor in a range of businesses, platforms and projects which support the delivery of new homes in Ireland. These investments are in private market commercial operations, typically featuring a significant quantum of third-party investment that deliver a range of housing tenures including...

Written Answers — Department of Finance: Tax Reliefs (27 Feb 2024)

Michael McGrath: Ireland’s taxation of fuel and electricity is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). The ETD provisions relating to electricity taxation are transposed into national law in Chapter 1 of Part 2 of the Finance Act 2008 (as amended). This legislation provides for the application of an excise duty, in the form of...

Written Answers — Department of Finance: Tax Reliefs (27 Feb 2024)

Michael McGrath: As the Deputy will be aware, in 2022 in light of the acute impact rising prices were having on households and business, Government provided for excise rate reductions in the order of 21, 16 and 5.4 cent per litre on petrol, diesel and Marked Gas Oil (MGO) respectively. These temporary reductions were due to end initially on 31 August 2022 but following review and monitoring of fuel prices...

Written Answers — Department of Finance: Climate Action Plan (27 Feb 2024)

Michael McGrath: As part of the whole-of-Government approach to climate action, the Department of Finance is working with other government Departments and agencies in a co-ordinated manner in order to support the delivery of targeted reductions in overall greenhouse gas emissions by 2030, and to reach net-zero emissions by no later than 2050. In relation to the Climate Action and Biodiversity (Mandates of...

Written Answers — Department of Finance: Business Supports (27 Feb 2024)

Michael McGrath: As the Deputy is aware, the Strategic Banking Corporation of Ireland plays an important role in supporting Irish businesses to access long-term, lower cost finance. A number of successful schemes are now closed to new applications, but Government Departments continue to work closely with the SBCI to develop and implement new schemes. I am pleased to advise the Deputy that the Growth and...

Written Answers — Department of Finance: Tax Rebates (27 Feb 2024)

Michael McGrath: The VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive, farmers can elect whether or not to register for VAT in respect of their farming business, and this affects how VAT incurred on their inputs (such as the purchase of farm equipment) is treated. Eligibility for grant funding under the Targeted...

Written Answers — Department of Finance: Primary Medical Certificates (27 Feb 2024)

Michael McGrath: I have now formally appointed all five members to the new Disabled Drivers Medical Board of Appeal (DDMBA) and appeal hearings recommenced in the first half of December 2023. I appreciate that it has taken far longer than anticipated to get to this point. In this regard four Expression of Interest campaigns have had to be run over 18 months to source the legislatively required five...

Written Answers — Department of Finance: Tax Collection (27 Feb 2024)

Michael McGrath: I propose to take Questions Nos. 144 and 145 together. I am advised by Revenue that it is precluded under Section 851A of the Taxes Consolidation Act 1997 from commenting on the tax affairs of an individual, business or entity. Revenue is, therefore, not in a position to provide comment on the specific case or details referred to in the Deputy's questions. Under the self-assessment...

Written Answers — Department of Finance: State Bodies (27 Feb 2024)

Michael McGrath: The Financial Services and Pensions Ombudsman (FSPO) is an independent, impartial, fair and free service that helps resolve complaints against financial service and pension providers from consumers and small businesses. Following approval of the FSPO’s Workforce Plan 2024-2026 in December 2023, the sanctioned staff complement in the FSPO was increased from 90.2 to 128. I have...

Written Answers — Department of Finance: Departmental Meetings (27 Feb 2024)

Michael McGrath: Since becoming Minister for Finance, I have engaged with the UK Chancellor of the Exchequer, Jeremy Hunt on a number of occasions; the first being a visit to London just a few weeks following my appointment. These engagements provide an excellent opportunity to discuss matters of mutual interest, including the economic and fiscal outlook at national, regional and global levels; as well as...