Results 301-320 of 14,758 for in 'Written Answers' speaker:Michael McGrath

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

Michael McGrath: The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. I am advised by Revenue that the Rent Tax Credit statistics currently available refer only to claims by PAYE taxpayers. Data on claims by self-assessed...

Written Answers — Department of Finance: Data Centres (27 Feb 2024)

Michael McGrath: In relation to my Department, I wish to advise that ICT services are provided by the Office of the Government Chief Information Officer (OGCIO) under the Department of Public Expenditure NDP Delivery and Reform. OGCIO’s Managed Desktop and Managed Hosting services uses a number of data centres which are ISO 27001 certified and are located across Dublin City and the greater Dublin...

Written Answers — Department of Finance: Vehicle Registration Tax (22 Feb 2024)

Michael McGrath: I am advised that when a car is imported from outside the EU e.g. Australia, then Customs formalities must be completed and depending on the circumstances Customs Duty, VAT and VRT may be payable. All goods being imported from Australia, including cars, require a Customs import declaration. This is usually completed by a Customs agent on behalf of the importer.However, an individual can...

Written Answers — Department of Finance: Tax Rebates (22 Feb 2024)

Michael McGrath: I am advised by Revenue that, while the majority of PAYE taxpayers who file returns now do so themselves, a taxpayer may engage an agent to act on their behalf. This is a commercial and professional engagement between the taxpayer and the agent. It does not remove the responsibility on the taxpayer to ensure that any claim made on their behalf is correct. Revenue’s website contains...

Written Answers — Department of Finance: Tax Exemptions (22 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: Tax Exemptions (22 Feb 2024)

Michael McGrath: Savings with an Irish bank, or other deposit taker such as a credit union or An Post, are generally subject to Deposit Interest Retention Tax (DIRT) at a rate of 33% (USC does not apply and PRSI may apply). DIRT will be deducted by the deposit taker unless the account is specifically exempt. Whether or not an account held by a person in receipt of an invalidity pension is exempt from DIRT...

Written Answers — Department of Finance: Pension Levy (22 Feb 2024)

Michael McGrath: As the Deputy is aware the pension fund levy was introduced in the wake of the financial crises, at a time when the economy was in very serious difficulties. It was charged on the market value of assets in pension schemes held on 30 June in each year at a rate of 0.6% (2011 to 2013), 0.75% (2014) and 0.15% (2015). It is important to note that this levy was discontinued from 2016. ...

Written Answers — Department of Finance: Tax Code (21 Feb 2024)

Michael McGrath: The Residential Zoned Land Tax (RZLT) is a new tax introduced in Finance Act 2021 which 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...

Written Answers — Department of Finance: Financial Instruments (21 Feb 2024)

Michael McGrath: I can confirm that it is possible to change a VAT rate between Budgets and that such changes have been made in the past. A Financial Resolution is required to make such a change. In line with Section 4g of the Provisional Collection of Taxes Act, 1927, such a Financial Resolution will only have effect for four months. As such, primary legislation would be required before the expiration of the...

Written Answers — Department of Finance: Insurance Coverage (21 Feb 2024)

Michael McGrath: I propose to take Questions Nos. 58 and 66 together. It is 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 Directive). Consequently, I am not in a position to direct insurance companies regarding the cost...

Written Answers — Department of Finance: Tax Reliefs (21 Feb 2024)

Michael McGrath: As the Deputy will be aware, with effect from 1 January 2009, income tax relief in respect of qualifying health expenses, with the exception of relief in relation to nursing home expenditure, has been granted at the standard rate of tax. Prior to that date, tax relief was available at the taxpayer's marginal rate of income tax. The decision to standardise health expenses relief was to...

Written Answers — Department of Finance: Insurance Coverage (21 Feb 2024)

Michael McGrath: I propose to take Questions Nos. 60 and 61 together. Insurance reform is a central priority for this Government and it is being addressed directly via the Action Plan for Insurance Reform. This whole-of-Government initiative aims to reduce cost and increase availability of this key financial service. The vast bulk of the actions contained in the Plan have now been delivered and the...

Written Answers — Department of Finance: Tax Rebates (21 Feb 2024)

Michael McGrath: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. From 1 May 2023, the supply and installation of solar panels on or adjacent to immovable property, being private dwellings, is subject to the zero rate. In accordance with EU and Irish VAT legislation, a VAT-registered trader is obliged to include VAT as part of the price for goods and...

Written Answers — Department of Finance: Primary Medical Certificates (21 Feb 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. The...

Written Answers — Department of Finance: Tax Avoidance (21 Feb 2024)

Michael McGrath: I am not aware of any correspondence to me or my Department from Revenue or any other body on the specific topic identified by the Deputy since the passage of Finance Act. There was of course the normal engagement with Revenue in relation to the preparation of material regarding this section for use during the passage of Finance Act 2022 through the Houses of the Oireachtas. In addition...

Written Answers — Department of Finance: Tax Code (21 Feb 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: Primary Medical Certificates (20 Feb 2024)

Michael McGrath: The final report of the NDIS Transport Working Group's review of mobility and transport supports including the Disabled Drivers and Disabled Passengers Scheme (DDS), endorsed proposals for a modern, fit-for-purpose vehicle adaptation scheme in line with international best practice that would replace the DDS, as it is no longer fit-for-purpose on any and all aspects. The proposals note this...

Written Answers — Department of Finance: Primary Medical Certificates (20 Feb 2024)

Michael McGrath: Regulations 6 of SI 353 Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme 1994 requires that all members of the Disabled Drivers Medical Board of Appeals (DDMBA) must be registered with the Medical Council, that is, must be medical professionals. The Department of Health with support from Department of Finance officials set out essential and desired criteria for...

Written Answers — Department of Finance: Primary Medical Certificates (20 Feb 2024)

Michael McGrath: The Disabled Drivers and Disabled Passengers Scheme provides relief from VRT and VAT on an adapted cars, as well as an exemption from motor tax and an annual fuel grant. To qualify for the Scheme an applicant must be in possession of a Primary Medical Certificate (PMC). The PMC is issued by the relevant Senior Medical Officer in the HSE, or failing that an appeal may be made to the...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (20 Feb 2024)

Michael McGrath: In responding to the Deputy, I would note that I can only answer in respect of the COVID-19 support schemes under my remit. Since the beginning of the pandemic, Revenue has operated a series of Government support schemes for businesses, employers and individuals. However, certain supports, such as the Tax Debt Warehousing scheme, did not entail making any payments to taxpayers. I am advised...