Results 261-280 of 14,758 for speaker:Michael McGrath in 'Written Answers'

Written Answers — Department of Finance: Tax Data (5 Mar 2024)

Michael McGrath: I propose to take Questions Nos. 227, 228 and 229 together. In relation to question 10488/24, I am informed by Revenue that the number of category A vehicles charged with the nitrogen dioxide emissions (NOx) levy in 2022, 2023, and to date in 2024, along with the revenue raised each year, is provided in the table below. Year Number of registrations (NOx levy applied)...

Written Answers — Department of Finance: Tax Data (5 Mar 2024)

Michael McGrath: I am advised by Revenue that its Ready Reckoner for calculating the impact of potential changes in rates of taxation can be used to estimate the effect of changes to the carbon tax rate by extrapolating from the information on page 23. The Ready Reckoner is available at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/ready-reckoner/index.aspx. These estimates assume no...

Written Answers — Department of Finance: Raidió Teilifís Éireann (5 Mar 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, business or entity. Revenue is, therefore, not in a position to comment on the specific case or details referred to in this question. However, I can point to information disclosed by the former Director General of RTÉ, Ms Dee Forbes, at a...

Written Answers — Department of Finance: Regulatory Bodies (5 Mar 2024)

Michael McGrath: It is assumed that the Deputy is referring to the Central Bank macro prudential rules in relation to the provision of residential mortgage credit. These borrower based mortgage lending measures were introduced in February 2015 and prior to that date, no comparable mortgage lending rules were in place. However, in 2007 mortgage lenders were subject to the Consumer Credit Act 1995 and where...

Written Answers — Department of Finance: Tax Collection (5 Mar 2024)

Michael McGrath: I am advised by Revenue that the person concerned submitted an Income Tax Return for 2019 on 31 December 2023, and that the associated Statement of Liability (SOL), confirming the person’s final tax position for 2019, issued electronically via MyAccount on 8 January 2024. Revenue have further advised me that a copy of the SOL also issued to the person concerned via post on 29...

Written Answers — Department of Finance: Tax Code (5 Mar 2024)

Michael McGrath: The Sick Leave Act 2022 provides for employer paid sick leave and for medical absences at the rate of 70 per cent of the employee’s normal pay, capped at €110 per day, for up to 5 days in 2024. Statutory sick pay is available if an employee had been employed for at least 13 weeks in the relevant calendar year. The rules on the scheme are set out in the Sick Leave Act 2022,...

Written Answers — Department of Finance: Customs and Excise (29 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: Tax Code (29 Feb 2024)

Michael McGrath: Section 472B of the Taxes Consolidation Act 1997 provides for the Seafarers' Allowance which is intended to support those working in the commercial maritime sector. I am advised by Revenue, that the estimated cost and number of claimants for the allowance for seafarers, for the years 2004-2021, are included in the ‘Cost of Tax Expenditures’ publication which is available on...

Written Answers — Department of Finance: Planning Issues (29 Feb 2024)

Michael McGrath: The Residential Zoned Land Tax (RZLT) was introduced in Finance Act 2021 and seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for housing. The tax is an action contained in...

Written Answers — Department of Finance: EU Funding (29 Feb 2024)

Michael McGrath: My Department does not have responsibility for the management of specific EU funds, which are managed individually by Departments with the relevant lead policy responsibilities. That said, my Department plays a key role in the management of the EU budgetary process. This includes leading negotiations on the annual EU Budget as well as forecasting Ireland’s contributions and...

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...