Jackie Cahill
Ceist:157. Deputy Jackie Cahill asked the Minister for Finance the status of a primary medical certificate in respect of a person (details supplied); and if he will make a statement on the matter. [16110/17]
Amharc ar fhreagraPrimary Medical Certificates Applications
Ceisteanna (157)
Freagraí scríofa
The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT, up to a certain limit, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a fuel grant, and an exemption from Motor Tax.
To qualify for the Scheme an applicant must be in possession of a Primary Medical Certificate. To qualify for a Primary Medical Certificate, an applicant must be permanently and severely disabled within the terms of the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994 and satisfy one of the following conditions:
- be wholly or almost wholly without the use of both legs;
- be wholly without the use of one leg and almost wholly without the use of the other leg such that the applicant is severely restricted as to movement of the lower limbs;
- be without both hands or without both arms;
- be without one or both legs;
- be wholly or almost wholly without the use of both hands or arms and wholly or almost wholly without the use of one leg;
- have the medical condition of dwarfism and have serious difficulties of movement of the lower limbs.
The Senior Medical Officer for the relevant local Health Service Executive administrative area makes a professional clinical determination as to whether an individual applicant satisfies the medical criteria. A successful applicant is provided with a Primary Medical Certificate, which is required under the Regulations to claim the reliefs provided for in the Scheme. An unsuccessful applicant can appeal the decision of the Senior Medical Officer to the Disabled Drivers Medical Board of Appeal, which makes a new clinical determination in respect of the individual. The Regulations mandate that the Medical Board of Appeal is independent in the exercise of its functions to ensure the integrity of its clinical determinations.
The criteria to qualify for the Scheme are necessarily precise and specific. After six months a citizen can reapply if there is a deterioration in their condition.
Carbon Tax Collection
Ceisteanna (158)
Carol Nolan
Ceist:158. Deputy Carol Nolan asked the Minister for Finance if he will consider introducing a derogation from carbon tax; and if he will make a statement on the matter. [16192/17]
Amharc ar fhreagraFreagraí scríofa
The carbon tax is designed to treat all carbon emissions the same in order to ensure that it is fair and its application is as broad as possible to make certain its efficacy. The introduction of Carbon Tax was to send a price signal that there is a cost associated with the combustion of fossil fuels to the detriment of the environment.
Ireland is legally bound to reduce emissions by 20% on 2005 levels in 2020 and 30% on 2005 levels by 2030, as part of the European Commission's Climate and Energy Package to tackle climate change. The carbon tax was introduced as part of an overarching energy strategy and is a key tool to reduce emissions towards meeting these and other climate change commitments.
As a matter of principle the reliefs from the carbon tax are limited to ensure as wide an application as possible. Placing a carbon tax on fuels also offers an opportunity to develop cleaner more efficient and environmentally friendly alternative fuels. The carbon tax is, and will continue to be, a fundamental pillar of the transition towards a decarbonised economy and society by 2050.
Accordingly, I do not intend introducing a derogation from carbon tax.
Help-To-Buy Scheme
Ceisteanna (159)
Peter Burke
Ceist:159. Deputy Peter Burke asked the Minister for Finance if the cost price of a new build house is taken into account when calculating loan to value for the purpose of the help-to-buy scheme rather than the valuation price; and if he will make a statement on the matter. [16000/17]
Amharc ar fhreagraFreagraí scríofa
I assume that the Deputy is referring to a self-build residence and that by cost price he means the cost of building the residence.
I am informed by Revenue that the loan-to-value ratio used under the scheme is calculated as the amount of the qualifying loan taken as a proportion of the purchase value of the self-build residence.
The purchase value of a self-build property is the valuation of the residence that, at the time the qualifying loan is entered into, is approved by the qualifying lender. This includes the aggregate of the market value of the land and the estimated costs of construction, as applied by the Central Bank when they calculate valuations for the purposes of the macro prudential rules.
Supreme Court Rulings
Ceisteanna (160)
Eamon Scanlon
Ceist:160. Deputy Eamon Scanlon asked the Minister for Finance when the Supreme Court will give a judgment on an appeal (details supplied); and if he will make a statement on the matter. [16038/17]
Amharc ar fhreagraFreagraí scríofa
The Law Society v Motor Insurers' Bureau of Ireland (MIBI) case was heard by the Supreme Court of Ireland in October 2016. The outcome of that case is currently awaited. No date has been specified for the delivery of the judgment.
As you are aware the judiciary are a separate and independent branch of the state and therefore the timing of the delivery of their decision is a matter for them to decide and it is not something that I have any influence over.
If the High Court ruling is upheld then MIBI will compensate third parties fully up to a limit of €1,220,000 per claim for property, regardless of the number of claimants. If the MIBI appeal succeeds third party claims will be met by the Insurance Compensation Fund (ICF) up to a limit of 65% and a ceiling of €825,000 per claimant.
A small number of additional claims are not affected by the court proceedings and are being processed by the Office of the Accountant of the Courts of Justice due to the fact that they are first party claims and come unambiguously within the remit of the ICF.
The position in relation to third party motor insurance claims is that they are unlikely to be processed until after the outcome of the Supreme Court appeal.
I expect to be able to provide a more up-to-date position after the legal proceedings are concluded.
State Bodies
Ceisteanna (161)
Pearse Doherty
Ceist:161. Deputy Pearse Doherty asked the Minister for Finance the extent of the NTMA or other State bodies' investments in the defence industry; the nature of this investment; and if he will make a statement on the matter. [16043/17]
Amharc ar fhreagraFreagraí scríofa
The NTMA has informed me that the preliminary unaudited value of investments by the Ireland Strategic Investment Fund in the aerospace and defence sub-industry as at 31 December 2016 is approximately €10.5 million. The aerospace & defence sub-industry is the lowest level of sector breakdown available under the Global Classification and the Bloomberg Industry Classification System Standards and includes aircraft manufacturers. Whilst these companies may have a limited exposure to the armaments and defence industry, this level of detail is not available.
The specific exclusions from the ISIF are those that are mandated by legislation, specifically the Cluster Munitions and Anti-Personnel Mines Act 2008. A listing of the 19 companies excluded on this basis is available at http://isif.ie/how-we-invest/responsible-investment/cluster-munitions/.
State Bodies
Ceisteanna (162)
Pearse Doherty
Ceist:162. Deputy Pearse Doherty asked the Minister for Finance the extent of the NTMA or other State bodies' investments in areas or projects in illegally-occupied Palestine; and if he will make a statement on the matter. [16044/17]
Amharc ar fhreagraFreagraí scríofa
As the Deputy is aware the Ireland Strategic Investment Fund ("ISIF") has a statutory mandate to invest on a commercial basis to support economic activity and employment in Ireland and is engaged in a strategy to sell its investments outside Ireland over time to fund Irish investment commitments as they arise. The Fund's annual report for the year ended 31 December 2016, together with a full list of global holdings, will be published during the second quarter of 2017.
The ISIF currently operates a Sustainable and Responsible Investment policy and is a signatory to the UN Principles for Responsible Investment.
On the basis of unaudited preliminary data, the fund has one legacy holding of 0.9 of one share, valued at €0.12 in Africa-Israel Investments. Given the nominal value, sale of this holding is difficult however it will be sold at the next practicable opportunity. Other than that, to best of the ISIF's knowledge, the fund does not have investments in areas or projects in Palestine. In the absence of a list of specific holdings which may be of concern to the Deputy, ISIF is not in a position to give a more detailed response at this time.
Credit Unions
Ceisteanna (163)
John Lahart
Ceist:163. Deputy John Lahart asked the Minister for Finance if Regulation 35, as outlined in SI No. 1 of 2016 regarding the Credit Union Act 1997, applies to the accounts of charitable associations that use the credit union to avail of its favourable interest rates or if it applies only to individual savings accounts; if exemptions can be made for charitable organisations whose accounts exceed the limit of €100,000 as set out in Regulation 35; and if he will make a statement on the matter. [16048/17]
Amharc ar fhreagraFreagraí scríofa
My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions.
The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members.
The Credit Union Act 1997 (Regulatory Requirements) Regulations 2016 (the Regulations) came into effect on 1 January 2016 following commencement of the remaining sections of the Credit Unions and Co-operation with Overseas Regulators Act 2012 which provided regulation making powers to the Central Bank. Regulation 35 sets out an individual member savings limit of €100,000.
The Central Bank has informed me that where clubs and associations hold savings in a credit union, the savings limit applies in respect of the total savings of the club or association. The club or association is treated as a single member for the purposes of applying the individual members' savings limit.
Drugs Seizures
Ceisteanna (164)
Pearse Doherty
Ceist:164. Deputy Pearse Doherty asked the Minister for Finance the value of illegal drugs seized and destroyed respectively in each of the past five years; and if he will make a statement on the matter. [16156/17]
Amharc ar fhreagraFreagraí scríofa
I am advised by Revenue that the values of the illegal drugs which have been seized by them in each of the past five years are set out in the table. The values are estimated at the time of seizure and before full forensic analysis is complete.
|
Year |
Value of Illegal Drugs Seized € million |
|
2012 |
49.3 |
|
2013 |
20.8 |
|
2014 |
91 |
|
2015 |
23.1 |
|
2016 |
30.5 |
Illegal drugs seized by Revenue's Customs service are destroyed in consultation with An Garda Síochána and the Forensic Liaison Office of Forensic Science Ireland.
Drugs seized by Revenue that are required for evidence in criminal investigations are held until judicial proceedings are complete. In these circumstances the drugs may not be destroyed in the same year as they are seized.
Tax Data
Ceisteanna (165)
Pearse Doherty
Ceist:165. Deputy Pearse Doherty asked the Minister for Finance the cost of putting in place a full refund of VRT and VAT for the purchase of 1,000 wheelchair-accessible taxis in the CO2 band A9 and an average price of €30,000; and if he will make a statement on the matter. [16157/17]
Amharc ar fhreagraFreagraí scríofa
Based on the assumption that the Deputy is referring to the A4 band (111-120 g/km) and that the €30,000 price is inclusive of VRT and VAT, the cost of providing a full refund of VRT and VAT for the purchase of 1,000 vehicles would be in the region of €10 million.
Cáin Chorparáide
Ceisteanna (166)
Pearse Doherty
Ceist:166. D'fhiafraigh Deputy Pearse Doherty den Aire Airgeadais an mbeadh sé sásta fiosrúchán a sheoladh ar cé acu ar chóir lacáiste cánach a chur ar fáil do chuideachtaí a dhéanann méid áirithe fógraíochta i nGaeilge, ó tharla go n-aontaíonn tromlach na tíre seo gur chóir lipéadú dátheangach a spreagadh agus ó tharla gur féidir leis an nGaeilge cur le forbairt eacnamaíochta na tíre; agus an ndéanfaidh sé ráiteas ina thaobh. [16165/17]
Amharc ar fhreagraFreagraí scríofa
Tá an córas cáineach corporáide Éireannach trédhearcach. Tá sé bunaithe ar ráta príomha de 12.5% ar bhonn leathan le líon beag faoiseamh cánach atá an-dhírithe.
Mar sin, nil ach raon srianta caiteachais cánach corporáide in Éirinn. Tá siad seo dírithe ar chruthú post agus ar réimsí nualaíochta. Déantar measúnú rialta orthu seo le cinntiú go bhfuil luach ar airgead á fháil ag an gcáiníocóir.
Go ginéarálta tá comhlacht i dteideal asbhaintí i gcoinne brabúis i leith caiteachais ioncaim, chomh fada agus atá an caiteachas lán-tabhaithe i gcaitheamh gnó an chomlachta. Titeann caiteachas i leith fograíochta laistigh de seo.
Níl sé i gceist breis faoisimh cánach a thabhairt isteach san earnáil seo.
Departmental Expenditure
Ceisteanna (167)
Paul Murphy
Ceist:167. Deputy Paul Murphy asked the Minister for Finance the cost that the expenses associated with an IPO of a bank (details supplied) will amount to; the cost of financial, legal, communications and auditing advisers; the amount that has been spent to date on each category; and if he will make a statement on the matter. [16213/17]
Amharc ar fhreagraFreagraí scríofa
As the Deputy may be aware, in line with the State agreements with AIB, all fees incurred by the State in relation to any capital transaction will be paid by the bank.
Fees are only payable to the syndicate on the completion of a successful transaction, and are proportional to the value of the transaction. As such it is not possible to provide the exact quantum of fees that would be paid as no transaction has occurred. The fees that have been negotiated by my officials are very competitive by reference to comparable transactions. The number of banks appointed is within precedent and does not affect the overall fee level payable.
In addition to the syndicate banks, fees will be payable to legal and communications advisors, as well as our independent financial advisor. Details of the fees paid to these parties are disclosed under the procurement section of the Department's website: http://www.finance.gov.ie/publications/foi-publication-scheme/procurement/procurement.
Help-To-Buy Scheme Data
Ceisteanna (168, 169, 170, 171, 172, 173, 192)
Pearse Doherty
Ceist:168. Deputy Pearse Doherty asked the Minister for Finance the number of applications to date for the help-to-buy scheme as announced in budget 2017; and if he will make a statement on the matter. [16226/17]
Amharc ar fhreagraPearse Doherty
Ceist:169. Deputy Pearse Doherty asked the Minister for Finance the number of applications for the help-to-buy scheme that have been deemed valid to date; and if he will make a statement on the matter. [16227/17]
Amharc ar fhreagraPearse Doherty
Ceist:170. Deputy Pearse Doherty asked the Minister for Finance the number of successful or pending applications for the help-to-buy scheme in categories (details supplied): and the total potential cost of the scheme in each category, in tabular form. [16228/17]
Amharc ar fhreagraPearse Doherty
Ceist:171. Deputy Pearse Doherty asked the Minister for Finance the total anticipated cost of the help-to-buy scheme based on the applications to date; and if he will make a statement on the matter. [16229/17]
Amharc ar fhreagraPearse Doherty
Ceist:172. Deputy Pearse Doherty asked the Minister for Finance the average claim under the help-to-buy scheme to date; and if he will make a statement on the matter. [16230/17]
Amharc ar fhreagraPearse Doherty
Ceist:173. Deputy Pearse Doherty asked the Minister for Finance the number of claims under the help-to-buy scheme for the maximum amount; and if he will make a statement on the matter. [16231/17]
Amharc ar fhreagra
Joan Burton
Ceist:192. Deputy Joan Burton asked the Minister for Finance the number of applications for the help-to-buy scheme that have been deemed valid to date; and if he will make a statement on the matter. [16364/17]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 168 to 173, inclusive, and 192 together.
I am advised by Revenue that the number of applications under the Help to Buy (HTB) incentive received up to the end of March 2017 is set out in the table.
Application Stage Data
|
No. of Applications |
Successful Applications |
Pending |
|
4,698 |
1,206 |
3,492 |
The Deputies will be aware that a two-stage process is employed for the HTB incentive, under which individuals submit an application for the incentive to receive an indication of the level of tax relief that may be available to them. The data indicates that around one-third of applications received are approved automatically, while the remainder are generally allocated a status of pending. Pending means that the applicants either have to file an outstanding return or address a compliance issue, the application is to be reviewed by a Revenue caseworker, or the applicant needs to finalise his or her application.
The purpose of the application stage of the HTB incentive process is such that would-be first-time buyers can determine whether, and to what extent, they qualify for the incentive. The data from the application stage are only an indicator as to possible take-up of the incentive. An applicant might not proceed to claim stage or might not get mortgage approval. Where applicable, i.e. where a contract to purchase a qualifying home has been entered into, or the individual proceeds to commence a self-build home, the individual(s) can subsequently submit a claim for a tax refund. The necessary evidence, which is a signed contract, mortgage agreement, deposit details, details of the property for first-time purchasers or, in the case of first-time self-build claimants, evidence of drawdown of the first tranche of the mortgage, must be submitted along with the claim. More detailed information and guidance regarding these requirements is available on the Revenue website.
Information about the loan-to-value ratios is not available at the application stage, as such figures are not usually finalised at that stage of the process. However, this information is required when a claim is made for a refund. I am advised that the categorisations of claims by the requested loan-to-value ratios as of end March 2017 are as set out in the table.
Claims Received Stage Data
|
LTV |
No. of Claims |
% of Total |
|
70%-79.99% |
184 |
18.29 |
|
80%-84.99% |
168 |
16.70 |
|
85%-89.99% |
380 |
37.77 |
|
90% & over |
274 |
27.24 |
|
Total |
1,006 |
100 |
With regard to the total potential cost of the scheme by reference to the various loan-to-value categories, the HTB incentive is by its nature a demand-led scheme. There is no ceiling on the number of potential applicants so it is not possible to identify such a figure.
The cost of the incentive to the exchequer to date, is in the order of €8.2 million (it was estimated that the cost in 2017 would be approximately €50 million when claims in respect of 2016 were included). My Department estimated that the cost of the incentive would be €40 million in each of the years 2018 and 2019. The estimates for the potential cost of the incentive that have featured in recent media reports are based on the number of applications received by Revenue to Stage 1 of the scheme, rather than the number of claims to date. However, many of these applicants may never make a claim to Stage 2 for a variety of reasons. These could include individuals who do not go on to obtain mortgage approval, who may decide to purchase a second-hand property, or who are not able to source the new home that they desire.
I am further advised by Revenue that of the claims made to date (1,006), approximately half have been paid and that the average claim paid under the incentive is some €15,000. There have been 148 claims for the maximum amount of €20,000, of which 86 have been verified and refunded.
Finally, the Deputies may wish to know that Revenue now regularly publish statistics concerning the HTB incentive on its website at http://www.revenue.ie/en/about/statistics/tax-expenditures.html.