Results 21-40 of 14,767 for in 'Written Answers' speaker:Michael McGrath

Written Answers — Department of Finance: Tax Reliefs (30 Apr 2024)

Michael McGrath: Section 473A of the Taxes Consolidation Act (TCA) 1997 provides for tax relief at the standard rate of income tax (20%) in respect of “qualifying fees” paid by an individual for a third level education course, subject to the terms and conditions set out in the legislation. “Qualifying fees” broadly means tuition fees in respect of an approved course at an...

Written Answers — Department of Finance: Customs and Excise (30 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 227 and 235 together. The Finance Act 1999 provides for the application of excise duty, in the form of Mineral Oil Tax (MOT), to liquid fuels used for motor or heating purposes. MOT comprises a carbon component, or carbon charge, which is usually referred to as carbon tax. MOT also comprises a non-carbon component which is often referred to as...

Written Answers — Department of Finance: Broadband Infrastructure (30 Apr 2024)

Michael McGrath: I can advise the Deputy that the Data and Telephony, which is voice over IP (VOIP), communication lines for my Department are fibre optic communication lines. There are 36 copper communication lines in operation across my Department and the Department of Public Expenditure, NDP Delivery and Reform (as part of a shared services arrangement whereby my Department pays the monthly costs)....

Written Answers — Department of Finance: Tax Rebates (30 Apr 2024)

Michael McGrath: As the Deputy will be aware, the VAT treatment of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under the EU VAT Directive it is not possible for Ireland to introduce a VAT refund scheme for first time buyers of homes.

Written Answers — Department of Finance: Business Supports (30 Apr 2024)

Michael McGrath: Section 28B of the Emergency Measures in the Public Interest (Covid-19) Act 2020 provided for the Employment Wage Subsidy Scheme (EWSS), which was an economy-wide enterprise support provided to eligible businesses in respect of eligible employees. Eligibility to EWSS was based on the employer demonstrating that its business was likely to experience a 30 per cent reduction in turnover or...

Written Answers — Department of Finance: Tax Credits (30 Apr 2024)

Michael McGrath: The position is that the tax code provides for a number of tax measures for those aged 65 and over. This includes section 464 Taxes Consolidation Act 1997 which provides for the Age Tax Credit for individuals aged 65 or over. The credit is due in the year that an individual reaches the age of 65 and is granted for the full tax year. The current value of the tax credit is €245 per...

Written Answers — Department of Finance: Tax Rebates (30 Apr 2024)

Michael McGrath: I am advised by Revenue that the current timeline for processing claims in respect of refunds under the Value-Added Tax (Refund of Tax) (Flat-rate Farmers) Order 2012, is running at just under 3-weeks. This timeline reflects a significant reduction in wait times which were running at 6-weeks in January, February and March of this year. Claimants should ensure that all information...

Written Answers — Department of Finance: Tax Reliefs (30 Apr 2024)

Michael McGrath: I am advised by Revenue that the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, S.I. No. 353 of 1994 (as amended) provides for the repayment or remission of VAT and Vehicle Registration Tax (VRT) on the purchase of an adapted vehicle for the transport of a person with specific severe and permanent physical disabilities. An organisation can qualify for tax relief...

Written Answers — Department of Finance: Housing Schemes (30 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 of Income Tax and Deposit Interest Retention Tax (“DIRT”) paid in Ireland over the previous four years, subject to limits outlined in the legislation. Section 477C of the Taxes...

Written Answers — Department of Finance: Tax Rebates (30 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 236 and 246 together. The VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the 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 respect of which Member States may apply reduced rates...

Written Answers — Department of Finance: Motor Industry (30 Apr 2024)

Michael McGrath: I am advised by Revenue that each application for the exemption or relief from Vehicle Registration Tax (VRT) under the Vehicle Registration Tax (Permanent Reliefs) Regulations 1993 is considered on a case-by-case basis. Revenue has confirmed that a Transfer of Residence (TOR) exemption application was submitted by the persons concerned on 9 March 2024 with further supporting documentation...

Written Answers — Department of Finance: Tax Exemptions (30 Apr 2024)

Michael McGrath: As the Deputy will be aware, the VAT treatment of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under the EU VAT Directive it is not possible for Ireland to exempt capital works at grassroots sports facilities from VAT or introduce a VAT refund scheme for sports facilities.

Written Answers — Department of Finance: European Union (30 Apr 2024)

Michael McGrath: A very significant number of Acts and Statutory Instruments made or sponsored by the Minister for Finance are necessitated in whole or in part by the requirements of European law. It has not been possible, in the time available, to compile the information requested by the Deputy. My officials will compile the information sought and I will write to the Deputy shortly to provide the...

Written Answers — Department of Finance: Tax Code (30 Apr 2024)

Michael McGrath: As the Deputy 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 under the Medical Practitioners Act 2007, the Nurses and Midwives Act 2011, and...

Written Answers — Department of Finance: Rental Sector (30 Apr 2024)

Michael McGrath: The Rent Tax Credit (RTC), 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 RTC statistics currently available refer only to claims by PAYE taxpayers. Data on claims by self-assessed taxpayers...

Written Answers — Department of Finance: Housing Schemes (30 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 (11) of the Taxes Consolidation Act 1997 provides that, for a...

Written Answers — Department of Finance: Tax Data (30 Apr 2024)

Michael McGrath: The Charities VAT Compensation Scheme, administered by Revenue, was introduced in Budget 2018 to reduce the tax burden on charities and to partially compensate them for the VAT paid in delivering on their charitable purposes. Under the scheme, eligible charities may claim a refund of a proportion of their VAT costs based on their level of non-public funding. Where the total amount of...

Written Answers — Department of Finance: Philanthropy Initiatives (30 Apr 2024)

Michael McGrath: There is insufficient detail in the Deputy’s question upon which to base a costing for a new measure as suggested, as such it is not possible to answer the question. However, and as the Deputy may be aware, the Charitable Donation Scheme allows tax relief in Income Tax and Corporation Tax on qualifying donations made to approved bodies. Section 848A of the Taxes Consolidation Act, 1997...

Written Answers — Department of Finance: Local Authorities (30 Apr 2024)

Michael McGrath: My Department does not provide grant-aid to local authorities and therefore had no grant-aid returned or surrendered by local authorities in the year 2022,2023 and to date 2024.

Written Answers — Department of Finance: Pension Provisions (30 Apr 2024)

Michael McGrath: Overall, the policy objective for tax relief on pension contributions is to encourage individuals to save for retirement; to help meet a targeted level of supplementary pension coverage and income replacement; and to assist in preventing an over-reliance on State support for citizens in later life. Accordingly, pensions already have their own special treatment within the tax system to...