Results 81-100 of 14,767 for in 'Written Answers' speaker:Michael McGrath

Written Answers — Department of Finance: Tax Reliefs (18 Apr 2024)

Michael McGrath: I understand the Deputy’s office have confirmed that this Parliamentary Question relates the Cycle to Work Scheme and a proposal to expand the scheme to include a Bike-to-School provision. Section 118(5G) of the Taxes Consolidation Act 1997 (TCA) provides for the Cycle to Work Scheme. This scheme offers an exemption from benefit-in-kind (BIK) where an employer purchases a bicycle...

Written Answers — Department of Finance: Financial Irregularities (17 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 13 to 15, inclusive, together. As regards the letter referenced by the Deputy I understand that, in the time available, a review of my private office’s correspondence system and a Department wide request for sections to review correspondence received has not sourced a copy of the letter referenced in Parliamentary Question 16800/24. I also...

Written Answers — Department of Finance: Tax Exemptions (17 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 16 to 19, inclusive, and 22 together. As the Deputies will be aware, the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under our legislation the provision of medical care services by recognised medical professionals are exempt from VAT. This includes health professionals registered...

Written Answers — Department of Finance: Tax Yield (17 Apr 2024)

Michael McGrath: I am advised by Revenue that the additional revenue associated with the removal of the existing employer’s PRSI exemption, that may apply to share-based remuneration schemes operated by employers, is now estimated to be in the region of €235 million for all employers. This latest estimate is based on 2022 data, being the most recent year in respect of which Revenue has full data...

Written Answers — Department of Finance: Tax Yield (17 Apr 2024)

Michael McGrath: I am advised by Revenue that increases to the rate of Mineral Oil Tax (MOT) on marked gas oil in 2024 are scheduled for 1 April, 1 May and 1 August 2024. The following table sets out the estimated yield from these increases. This yield will not accrue if these increases do not proceed as scheduled. Date of Increase MOT €m VAT €m Total €m...

Written Answers — Department of Finance: Fuel Oil Specifications (17 Apr 2024)

Michael McGrath: As the Deputy will be aware, while taxation contributes to the final retail cost of fuels, there are a number of factors affecting the final retail price including international energy market dynamics, exchange rate fluctuations, wholesale contracts, transport costs and individual retail pricing policy. Excise law provides that the excise duty rate which applies to a fuel depends on the...

Written Answers — Department of Finance: Tax Collection (17 Apr 2024)

Michael McGrath: I am advised that Revenue is precluded under Section 851A of the Taxes Consolidation Act 1997 from commenting on the tax affairs of an individual, person, organisation or other legal entity. Revenue is, therefore, unable to provide information on the tax affairs of the organisation the Deputy’s question refers to or provide information on any tax settlements that might have been...

Written Answers — Department of Finance: Primary Medical Certificates (16 Apr 2024)

Michael McGrath: The Deputy should note that whilst I have oversight of the Disabled Drivers and Disabled Passengers Scheme, I do not have responsibility for disability policy and therefore cannot give a view on Articles 4 and 20 of the UNCRPD. You should be aware however that both my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme (DDS) is no longer...

Written Answers — Department of Finance: Middle East (16 Apr 2024)

Michael McGrath: The Ireland Strategic Investment Fund (ISIF) as part of the National Treasury Management Agency (NTMA) has statutory independence in the management of its investment portfolio. On Thursday, 4th April I was advised by the NTMA that it has decided to divest from certain ISIF global portfolio investments in companies that have certain activities in the Occupied Palestinian Territory. ISIF is...

Written Answers — Department of Finance: Tax Reliefs (16 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 216 and 217 together. The rent-a-room relief is provided for in section 216A Taxes Consolidation Act 1997 (TCA). It provides that, where an individual rents a room or rooms in his or her home as residential accommodation, he or she is treated, for income tax purposes, as not having any income from the letting where the gross rent received (including sums for...

Written Answers — Department of Finance: Housing Schemes (16 Apr 2024)

Michael McGrath: I am advised by Revenue that the situation has not changed in regards to the Help to Buy application in question no. 183 of 7 December 2023. In relation to the Deputy's query about the of lowering the LTV ratio for the Help to Buy Scheme, the position also remains as set out in my answer to Parliamentary Question no. 183 of 7 December 2023 and I have no plans to change the LTV ratio as...

Written Answers — Department of Finance: Middle East (16 Apr 2024)

Michael McGrath: On Thursday, 4th April I was advised by the National Treasury Management Agency that it has decided to divest from certain ISIF global portfolio investments in companies that have certain activities in the Occupied Palestinian Territory. ISIF is to divest from six of these companies with a total value of approximately €2.95m. The six companies are Bank Hapoalim BM; Bank Leumi-le...

Written Answers — Department of Finance: Departmental Communications (16 Apr 2024)

Michael McGrath: Ireland enjoys a deep and wide-ranging bilateral relationship with Australia, owing from our historic cultural and people-to-people ties, our economic and trade relationship, and our cooperation on global affairs across an array of fora and channels, including as members of a number of International Financial Institutions and international organisations. While there is engagement between...

Written Answers — Department of Finance: Primary Medical Certificates (16 Apr 2024)

Michael McGrath: The Deputy will be aware that the final report of the National Disability Inclusion Strategy (NDIS) Transport Working Group's review of mobility and transport supports including the Disabled Drivers and Disabled Passenger’s Scheme (DDS), endorsed proposals for a modern, fit-for-purpose vehicle adaptation scheme in line with international best practice that would replace the DDS. ...

Written Answers — Department of Finance: Tax Reliefs (16 Apr 2024)

Michael McGrath: Prior to Finance Act 2017, agricultural land which was leased for solar panels was not classified as qualifying agricultural property for the purposes of Capital Gains Tax retirement relief or agricultural relief from Capital Acquisitions Tax. Following a review announced in Budget 2018, and in recognition of the then Government's commitment to facilitate the development of solar energy...

Written Answers — Department of Finance: Tax Code (16 Apr 2024)

Michael McGrath: The Deputy will be aware that it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. The Government decided upon the introduction of the Local Property Tax (LPT), that a liability to the tax should apply to all owners of residential properties with a limited number of exemptions...

Written Answers — Department of Finance: Tax Data (16 Apr 2024)

Michael McGrath: Following consultation with the Deputy, I understand that the question relates to reducing the personal, PAYE and earned income tax credits of taxpayers by 2 per cent in respect of each €1,000 of income in excess of €180,000 and not exceeding €230,000, such that those on incomes in excess of €230,000 have no entitlement to those credits. I am advised by...

Written Answers — Department of Finance: Tax Exemptions (16 Apr 2024)

Michael McGrath: I am advised by Revenue that income received for providing accommodation is usually taxable. However, where rental payments meet the conditions for rent-a-room relief, which is provided for in section 216A TCA, a tax liability may not arise. The relief applies to sums arising to an individual in respect of the letting of a room or rooms in his or her home for residential purposes and the...

Written Answers — Department of Finance: Banking Sector (16 Apr 2024)

Michael McGrath: I presume the Deputy is referring to the Contingent Reimbursement Model operating the UK. It is a voluntary code that sets out consumer protection standards to reduce APP scams. Information on the internet indicates that signatory firms commit to procedures to detect, prevent and respond to APP scams, prevention of accounts being used to launder the proceeds of APP scams, and reimbursing...

Written Answers — Department of Finance: Housing Schemes (16 Apr 2024)

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 on Income Tax and Deposit Interest Retention Tax paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act 1997 outlines the definitions and...