Results 1-4 of 4 for 5 million segment:8774721

Seanad: Finance (No. 2) Bill 2023: Committee Stage (5 Dec 2023)

Seán Kyne: ...Minister shall, within 2 months of the passing of this Act, prepare and lay before the Houses of the Oireachtas a report on increasing the size of the VAT Compensation Fund for Charities to €40 million per annum.". The VAT compensation scheme was introduced by the Minister, Deputy Donohoe, in budget 2018 to reduce the tax burden on charities. It helps to partially offset the VAT...

Seanad: Finance (No. 2) Bill 2023: Committee Stage (5 Dec 2023)

Michael McGrath: I thank the Senator. With regard to the VAT compensation fund for charities, the Senators will be aware I announced my intention in budget 2024 to increase the size of the fund from €5 million to €10 million. The background to the scheme is that it was originally introduced in budget 2018 to reduce the tax burden on charities and partially compensate them for the VAT incurred...

Seanad: Finance (No. 2) Bill 2023: Committee Stage (5 Dec 2023)

Lynn Ruane: I move recommendation No. 22: In page 112, between lines 22 and 23, to insert the following: “Report on wealth tax 52.The Minister shall, within six months of the passing of this Act, lay before both Houses of the Oireachtas a report on the potential revenue raised from, and distributional impact of, a wealth tax of 1 per cent on all households with assets of over 10 million...

Seanad: Finance (No. 2) Bill 2023: Committee Stage (5 Dec 2023)

Lynn Ruane: ...supposedly addressing dereliction is the derelict sites levy administered by councils.To say this has been a failure is an understatement because we know that, in 2021, for example, only €1.1 million of the €4.5 million owed in derelict sites levies was actually collected by city and county councils. This was a collection rate of 23%. Eighteen councils failed to collect the...