Results 1-20 of 14,774 for in 'Written Answers' speaker:Michael McGrath

Written Answers — Department of Finance: Insurance Industry (9 May 2024)

Michael McGrath: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can direct the pricing or provision of insurance products, as this is a commercial matter which individual companies assess on a case-by-case basis. This position is reinforced by the EU Single Market framework for insurance (the Solvency II Directive). Regarding motor insurance, it is understood that...

Written Answers — Department of Finance: Community Development Projects (9 May 2024)

Michael McGrath: Relevant Contracts Tax (RCT) is a withholding tax that is applied to certain payments made by principals to subcontractors in the construction, forestry and meat processing sectors. The tax deducted is a payment on account against the subcontractors final Income Tax or Corporation Tax liability for the year, with the amount of RCT deducted credited against the tax liability for that year. The...

Written Answers — Department of Finance: Tax Code (9 May 2024)

Michael McGrath: The tax treatment of maintenance payments varies depending on: Whether the maintenance arrangement in place is legally enforceable or voluntary, Whether the maintenance payment is made for the benefit of the other party to the relationship or a child, and The basis of assessment applicable to the couple. Where the payment is legally enforceable and is made for the benefit of the other...

Written Answers — Department of Finance: Fiscal Data (9 May 2024)

Michael McGrath: I propose to take Questions Nos. 157 and 158 together. The Housing Finance Agency (HFA) is classified as a non-commercial agency within the general government sector. On this basis, the revenue and expenditure of the HFA are included in the calculation of the general government balance. As the nature of the HFA’s activity is to borrow or raise funds to on-lend to local...

Written Answers — Department of Finance: Housing Policy (9 May 2024)

Michael McGrath: The National Treasury Management Agency (NTMA) have informed me that the Ireland Strategic Investment Fund (ISIF) has a statutory mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. In line with this mandate, ISIF focusses its efforts on making transformational investments across its impact themes of Housing and Enabling...

Written Answers — Department of Finance: Departmental Expenditure (9 May 2024)

Michael McGrath: The Deputy will be aware that the ‘National Public Procurement Policy Framework’ issued by the Office of Government Procurement (OGP) sets out the procurement procedures to be followed by government departments and state bodies in accordance with EU rules and national guidelines. In addition, my Department has its own internal policy and guidance documents to assist staff to...

Written Answers — Department of Finance: Exchequer Deficit (9 May 2024)

Michael McGrath: The SPU fiscal forecasts incorporate Exchequer borrowing in both 2026 and 2027 when there is a projected Exchequer deficit. However, it should be noted that there is also borrowing included in the projections for 2024 and 2025, when the Exchequer is projected to run a surplus. There is also maturing debt that will require refinancing: for example, based on the current maturity profile of...

Written Answers — Department of Finance: Tax Data (8 May 2024)

Michael McGrath: I am advised by Revenue that, based on stamp duty returns for 2023, the latest year for which fully analysed data is available, the estimated cost of abolishing stamp duty for first-time buyers of residential properties valued at less than €400,000 is in the order of €33 million. It is not possible to extract an estimate for houses only as apartments and houses are not...

Written Answers — Department of Finance: Revenue Commissioners (8 May 2024)

Michael McGrath: Revenue has advised me that it currently has a total of 330 Clerical Officers (COs) and 91 Executive Officers (EOs) providing the full range of PAYE services. Of those officers, approximately 190 COs are on phone duties with the remainder working on correspondence received online or via the postal system. The EOs are allocated to support the phones and correspondence in a similar proportion,...

Written Answers — Department of Finance: Illicit Trade (8 May 2024)

Michael McGrath: I am advised by Revenue that electronic cigarettes, vapes and electronic liquids are not excisable products within the meaning of section 97 of Finance Act 2001 and section 71 of Finance Act 2005. The European Union (Manufacture, Presentation and Sale of Tobacco and Related Products) Regulations 2016 (S.I. No. 271 of 2016) is the primary source of regulation of such products, in respect of...

Written Answers — Department of Finance: Illicit Trade (8 May 2024)

Michael McGrath: I am advised by Revenue that x-ray scanners, 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 resources, detection equipment and technologies deployed by them, in addition to the application of the comprehensive legal framework as set out in relevant tax and customs legislation....

Written Answers — Department of Finance: Departmental Staff (8 May 2024)

Michael McGrath: I wish to advise the Deputy that neither my Department, nor any of the bodies under the aegis of my Department, has any staff suspended from work on full pay pending disciplinary investigations.

Written Answers — Department of Finance: European Union (8 May 2024)

Michael McGrath: My Department does not have responsibility for the management of specific EU funds and programmes, which are managed individually by Departments with the relevant lead policy responsibilities. In this regard, I understand the Deputy has submitted a similar question to a number of Departments. My Department is primarily responsible for the management of Ireland’s contribution to the...

Written Answers — Department of Finance: Tax Data (8 May 2024)

Michael McGrath: I propose to take Questions Nos. 156 and 157 together. The Universal Social Charge (USC) was designed and incorporated into the Irish taxation system in 2011 to replace the Health and Income Levies. Its primary purpose was to widen the tax base and to provide a steady income to the Exchequer to provide funding for public services. It is a more sustainable charge than those it replaced and...

Written Answers — Department of Finance: Tax Code (8 May 2024)

Michael McGrath: The VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. As the Deputy will be aware, Irish VAT law permits flat-rate farmers to reclaim VAT they incur on some particular business expenditure, as set out in the 2012 Refund Order. The Refund Order is permitted under EU law, subject to certain conditions, including that its scope is not...

Written Answers — Department of Finance: Tax Code (8 May 2024)

Michael McGrath: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they are exempt from VAT or fall within Annex III of the Directive, in which case lower VAT rates may apply subject to certain rules. Currently Ireland...

Written Answers — Department of Finance: Motor Industry (2 May 2024)

Michael McGrath: I am advised by Revenue that the average wait times as provided are correct and that as of 29 April 2024, appointment dates were available for 30 April at the Kells NCTS centre and 6 May at Northpoint/Dundalk NCTS centres. In addition, appointments may become available sooner, due to cancellations which the NCTS booking helpline team allocate in consultation with customers. Online...

Written Answers — Department of Finance: Primary Medical Certificates (2 May 2024)

Michael McGrath: The Deputy should note at the outset that whilst my Department has oversight of the Disabled Drivers and Disabled Passengers Scheme, I do not have responsibility for disability policy. Consequently, I am not in a position to comment on your question about the revision of a previous support scheme, as my understanding is that such a scheme did not fall within the remit of my Department. ...

Written Answers — Department of Finance: Housing Schemes (1 May 2024)

Michael McGrath: I am advised by Revenue that taxpayers availing of the Home Renovation Incentive (HRI), which ended in 2018, were required to provide details of the value of the work and the category/type of work being completed. Other information was also collected, such as the Local Authority area of the property which underwent the works. These data were compiled and published on the Revenue website and...

Written Answers — Department of Finance: Revenue Commissioners (1 May 2024)

Michael McGrath: I propose to take Questions Nos. 118, 119, 120, 121 and 122 together. Issuing of a licence, following submission of a certificate of transfer to Revenue, is usually a quick process but can be delayed where further information is required from the court. There is no expiry date specified in current legislation for the certificate of transfer. An ad-interim transfer (temporary transfer) of...