Written Answers Nos. 372-392
372. Deputy Pearse Doherty asked the Minister for Finance if he will consider expanding the eligibility criteria for the Covid-19 restrictions support scheme under the Finance Act 2020 to include suppliers who have suffered reduced income as a result of public health restrictions; and if he will make a statement on the matter. [1852/21]
Amharc ar fhreagraThe CRSS is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities, the profits from which are chargeable to tax under Case I of Schedule D, from a business premises located in a region subject to restrictions introduced in line with the Living with Covid-19 Plan.
The CRSS applies to businesses carrying on trading activities from a business premises located in a region subject to restrictions, which requires the business to prohibit or considerably restrict customers from accessing their business premises and as a result, is operating at less than 25% of turnover in 2019.
Any business that can remain open without having to prohibit or significantly restrict access to their business premises, but chooses not to remain open such as a wholesaler or supplier, will not be eligible to claim under CRSS.
It is not sufficient that the business supplies goods or services to another business that qualifies for the support because, under the Covid restrictions, that other business is required to temporarily close, or significantly reduce, its activity. Each business must satisfy the eligibility criteria in their own right.
There are no plans to change the eligibility criteria for the CRSS. The CRSS is targeted at businesses who are forced to restrict access to their premises on foot of health regulations. It is a part of the broad spectrum of Government supports being provided to assist businesses impacted by COVID-19.
In this regard, you may note that my colleague, the Tánaiste and Minister for Enterprise, Trade and Employment recently announced €160m funding for measures to help businesses during the pandemic which may be of assistance to your constituents. One of these new schemes, the Small Business Assistance Scheme for COVID (SBASC) is being developed to provide grants to businesses ineligible for the government’s other existing schemes designed to help with fixed costs. Further details are available at https://www.gov.ie/en/press-release/94496-government-160m-boost-to-covid-19-business-grants/.
The purpose of the CRSS is to provide additional support to the businesses who have had to close temporarily or significantly restrict access to their premises as a direct result of public health Regulations. The Government will continue to assess the effects of the Covid-19 pandemic on the economy and I will continue to work with Ministerial colleagues to ensure that appropriate supports are in place to mitigate these effects.
373. Deputy Pearse Doherty asked the Minister for Finance if he will consider reviewing the taxation of section 110 companies; and if he will make a statement on the matter. [1853/21]
Amharc ar fhreagraSection 110 of the Taxes Consolidation Act 1997 sets out a regime for the taxation of special purpose companies set up to securitise assets. The tax provisions are intended to create a tax neutral regime for bona-fide securitisation and structured finance purposes. The section 110 regime enables noteholders to invest through one structured vehicle, without giving rise to an additional layer of tax as compared to a direct investment in the underlying assets.
Securitisation allows banks to raise capital and to share risk and, by providing a repackaging and resale market for corporate debt, it lowers the cost of debt financing. It is accepted that having the option for more diversified sources of financing is good for investment and business. It is also important for financial stability in the economy, as the ability to securitise loan books plays an important role in allowing banks to meet their capital requirement obligations and to continue lending to businesses and individuals. The section 110 regime is an important part of Ireland’s offering as a location for the conduct of financial services. Ireland is not unique in having a securitisation regime, a number of other EU countries have such a regime in place as part of a competitive financial services offering. The importance of securitisation has been recognised by the European Commission through their work on Capital Markets Union, one of the aims of which is to seek to build a sustainable securitisation regime across the European Union.
The Deputy may be aware that that my officials prepared a report on Real Estate Investment Trusts, Irish Real Estate Funds and section 110 companies as they invest in the Irish property market in 2019. This report was completed and presented to the Tax Strategy Group in July 2019 and informed the amendments to the section 110 regime introduced in Finance Act 2019. These amendments strengthened the significant restrictions to the deductions which a section 110 company can claim for payment of profit participating notes to a specified person. The amendments also placed the section’s main purpose test on an objective basis, which enables Revenue to more effectively challenge abuse of the legislation.
While no formal review is under way, my officials, together with officials in Revenue, continue to monitor the sector on an ongoing basis, with a view to taking further action in future should it be deemed necessary.
374. Deputy Pearse Doherty asked the Minister for Finance when he will publish the Central Bank (amendment) Bill which will introduce the senior executive accountability regime; and if he will make a statement on the matter. [3385/21]
Amharc ar fhreagraThe introduction of SEAR is a commitment of the Programme for Government which seeks to improve the culture of the financial sector and underpin public trust in the financial services sector. It was first proposed by the Central Bank of Ireland in its 2018 report, Behaviour and Culture in the Irish Retail Banks, which was prepared at my request.
This is a complex piece of legislation and officials from my Department have been in detailed discussions with the Central Bank with regard to the proposals as set out in the report since its publication in July 2018.
My officials have also been engaging with the Attorney General's Office to ensure that the proposals for inclusion in the Bill are constitutionally sound and that the correct balance between significant additional powers for the Central Bank and the protection of individuals' constitutional rights is struck. It is important that the proposals to be presented to the Oireachtas for consideration in the legislation are robust, fit for purpose and legally sound.
While the engagement between officials and the Attorney General's Office is an iterative and ongoing process, substantial progress has been made on clarifying the legal and constitutional issues to be considered.
It is my intention that the heads of Bill will be drafted and presented to Government, pending the approval of the Attorney General, prior to the summer recess. Once the Heads have been published, there will be an opportunity for them to be considered as part of the pre-legislative scrutiny process.
The provisions of the Bill will then need to be drafted by the Office of the Parliamentary Counsel with engagement from the Department and the Central Bank, and approved by Government. Ultimately the timing of the passage of the Bill will be a matter for the Oireachtas.
375. Deputy Pearse Doherty asked the Minister for Finance the actions and policies he will consider to reduce mortgage interest rates in the Irish market, which remain among the highest in the European Union; and if he will make a statement on the matter. [3386/21]
Amharc ar fhreagraI am aware that the general level of interest rates on new mortgage lending in Ireland are higher than is the case in many other European countries, though it should also be noted that recent trends indicate that certain mortgage rates have been falling. For example, the interest rates on new fixed rate mortgages (excluding renegotiations) have fallen from 4.11% in December 2014 to 2.65% in January 2021.
However, Irish mortgages can have different characteristics from those offered in other countries making the direct comparison of headline rates not fully consistent. For example, many Irish banks include incentives such as cash back offers which reduce the effective Irish mortgage interest rate. Also Irish mortgages are also generally not subject to upfront fees which are typically charged by banks in some other EU jurisdictions.
Nevertheless, there are a number of important factors which will likely influence the interest rates charged on Irish mortgages such as:-
- credit risk and capital requirements which in Ireland are elevated due to historical loss experience;
- the level of non-performing and restructured loans which is higher in Ireland relative to other European banks;
- there are lower levels of competition in the Irish banking market compared to other jurisdictions.
However, the Central Bank has a range of measures to protect consumers who are taking out a mortgage. The consumer protection framework requires lenders to be transparent and fair in all their dealings with borrowers and that borrowers are protected from the beginning to the end of the mortgage life cycle; through protections at the initial marketing/advertising stage, in assessing the affordability and suitability of the mortgage and at a time when borrowers may find themselves in financial difficulties. In particular, the Central Bank introduced of a number of increased protections for variable rate mortgage holders which came into effect in February 2017. The enhanced measures, which are provided for in an Addendum to the Consumer Protection Code 2012, require lenders to explain to borrowers how their variable interest rates have been set, including in the event of an increase. The measures also improve the level of information required to be provided to borrowers on variable rates about other mortgage products their lender provides which could provide savings for the borrower and signpost the borrower to the CCPC’s mortgage switching tool.
The Central Bank also introduced additional changes to the Consumer Protection Code in January 2019 to help consumers make savings on their mortgage repayments, provide additional protections to consumers who are eligible to switch, and facilitate mortgage switching through enhancing the transparency of the mortgage framework. Consumers can reduce average pricing in the mortgage market by availing of switching options to ensure that recent and potential future price reductions pass through to the greatest number of customers possible. Indeed the Central Bank advises that a recent study by it estimated that three in every five ‘eligible’ mortgages for principal dwelling homes stand to save over €1,000 within the first year if they switch and €10,000 over the remaining term.
Ultimately, however, the price lenders charge for their loans is a commercial matter for individual lenders. As Minister for Finance I cannot determine the lending policies of individual banks including the interest rates they charge for mortgages and other loans. Nevertheless, I will continue to work with the Central Bank and also engage with lenders to encourage, within a framework which seeks to maintain overall financial stability, greater benefits for borrowers.
376. Deputy Pearse Doherty asked the Minister for Finance if he will consider reducing the rate of vehicle registration tax on cars imported from the UK to offset post-Brexit VAT changes that will apply to second-hand cars imported from the UK; the estimated cost increase in respect of such a car with an open market value of €20,000 as a result of these changes; and if he will make a statement on the matter. [3388/21]
Amharc ar fhreagraAs the Deputy will be aware, the impact of the UK now being a 3rd country for Customs purposes has impacted on costs of imports, including cars, from Great Britain. There has been an extensive communications and awareness campaign to communicate this to motor dealers and private individuals. The Revenue Commissioners have advised that the Revenue website alerts customers who are importing used cars from Great Britain after 31 December 2020 that they should factor in increased costs due to VAT at import and customs duty if applicable. It would be neither feasible nor appropriate to attempt to offset any Brexit related cost increases on the importation of cars from Great Britain by reducing Vehicle Registration Tax (VRT) rates for those vehicles.
Customs duties are calculated based on the price paid for the car and any other handling and transport costs. VAT is calculated on the customs duty inclusive amount. It is important to note that the Open Market Selling Price (OMSP) has no bearing on the amount of customs duty or VAT payable on importation into the State. The customs duty and VAT payable on a car imported from Great Britain, with an import value of €20,000, would depend on the origin of the car.
The table below details the rates of Customs Duty and VAT payable on cars imported from Great Britain depending on their origin.
|
Origin of car |
Customs Duty Payable |
VAT Payable |
|
UK |
0% |
23% |
|
Third country e.g. Japan |
10% |
23% |
|
EU e.g. Germany |
10% |
23% |
A car with an import value of €20,000 imported from Great Britain but originating in a third country, or in the EU, would attract €7,060 in customs duty and VAT.
Imported cars must be registered in the State within 30 days. Before a vehicle is presented for registration the relevant customs and VAT obligations on importers of cars from Great Britain will need to have been met. At registration the amount of VRT due is calculated based on the OMSP of the vehicle and other factors including the age of the vehicle and its Carbon Dioxide (CO2) and Nitrogen Oxide (NOx) emissions. The OMSP for the most common vehicles, and estimate of the tax due, can be found via the VRT calculator on the Revenue website. There is no provision to provide different VRT rates on the basis of the previous ownership of the vehicle.
377. Deputy Pearse Doherty asked the Minister for Finance the engagement he has had with a bank and its parent company (details supplied) and his UK counterpart on the future of the bank in the Irish market; and if he will make a statement on the matter. [3389/21]
Amharc ar fhreagraThe decision by NatWest to wind down its Ulster Bank business is regrettable, particularly for their customers and staff and they represent unfavourable developments for the Irish banking market.
Decisions in regards to operational and strategic matters are the sole responsibility of the boards and management of the individual banks, which are run on an independent and commercial basis. I have had no role in the strategic review of Ulster Bank and decisions that have been made in this regard. These are entirely matters for the Board and Management of the Ulster Bank and its parent company, NatWest.
Notwithstanding the fact that I have no role in the commercial decisions of banks, I have raised this issue on a number of different levels. I engaged with representatives from both Ulster Bank and its parent company, NatWest in advance of its announcement and again on the 19th of February. In these engagements, I strongly emphasised the importance of timely communication with customers, staff and other stakeholders in relation to strategic decisions regarding Ulster Bank. I also engaged with representatives of the Financial Services Union during the review and again on the 19th of February.
I also raised this issue in an engagement that I have had with the British Government, by means of a phone call I had with the Chancellor of the Exchequer, Mr Rishi Sunak.
I am open to engaging further on this issue with all interested parties to bring about an outcome that is good for Ulster Bank’s customers, staff and the Irish economy generally.
378. Deputy Ruairí Ó Murchú asked the Minister for Finance if his Department is considering plans to include outdoor activity providers with no fixed business premises in the Covid restrictions support scheme; and if he will make a statement on the matter. [43685/20]
Amharc ar fhreagraThe Covid Restrictions Support Scheme (CRSS) is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities, the profits from which are chargeable to tax under Case I of Schedule D, from a business premises located in a region subject to restrictions introduced in line with the Living with Covid-19 Plan.
Details of CRSS were published in Finance Act 2020 and detailed operational guidelines, which are based on the terms and conditions of the scheme as set out in the legislation, have been published on the Revenue website at https://www.revenue.ie/en/corporate/press-office/budget-information/2021/crss-guidelines.pdf.
To qualify under the scheme a business must, under specific terms of the Covid restrictions, be required to either prohibit or significantly restrict, customers from accessing their business premises to purchase goods or services, with the result that the business either has to temporarily close or to operate at a significantly reduced level. For the purposes of CRSS, a qualifying “business premises” is a building or other similar fixed physical structure in which a business activity is ordinarily carried on.
Where a business does not ordinarily operate from a fixed business premises, such as an outdoor activity business, that business will not meet the eligibility criteria for CRSS.
The Deputy will be aware of the Tourism Business Continuity scheme, a €55m strategic funding scheme announced as part of Budget 2021 to support tourism businesses. I understand that outdoor activity providers, boat tour companies and caravan and camping and other outdoor accommodation providers that are registered with Fáilte Ireland are eligible for phase 1 of this scheme, which is now open for applications. Further details of the scheme are available on the Fáilte Ireland website at https://www.failteireland.ie/Identify-Available-Funding/Tourism-Business-Continuity-Scheme.aspx.
The CRSS is an additional measure for businesses in a region subject to significant Covid-19 restrictions. Businesses who do not qualify under this scheme may be entitled to support under various measures put in place by Government, including existing supports available under the COVID Pandemic Unemployment Payment (PUP) and the Employment Wage Subsidy Scheme (EWSS). They may also be eligible to warehouse VAT and PAYE (Employer) debts and also excess payments received by employers under the Temporary Wage Subsidy Scheme, and the balance of Income Tax for 2019 and Preliminary Tax for 2020 for self-assessed taxpayers if applicable.
I have no plans to change the eligibility criteria for the CRSS. The purpose of the CRSS is to provide additional support to the businesses who have had to close temporarily or significantly restrict access to their premises as a direct result of public health Regulations. The Government will continue to assess the effects of the Covid-19 pandemic on the economy and I will continue to work with Ministerial colleagues to ensure that appropriate supports are in place to mitigate these effects.
379. Deputy Ruairí Ó Murchú asked the Minister for Finance the engagement he has had with other relevant Departments on businesses that might not be eligible for the Covid restrictions support scheme; and if he will make a statement on the matter. [1847/21]
Amharc ar fhreagraThe CRSS is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic. The support is available to companies, self-employed individuals and partnerships who carry on a trade or trading activities, the profits from which are chargeable to tax under Case I of Schedule D, from a business premises located in a region subject to restrictions introduced in line with the Living with Covid-19 Plan.
The CRSS applies to businesses carrying on trading activities from a business premises located in a region subject to restrictions, which requires the business to prohibit or considerably restrict customers from accessing their business premises and as a result, is operating at less than 25% of turnover in 2019.
Any business that can remain open without having to prohibit or significantly restrict access to their business premises, but chooses not to remain open, will not be eligible to claim under CRSS.
It is not sufficient that the business supplies goods or services to another business that qualifies for the support because, under the Covid restrictions, that other business is required to temporarily close, or significantly reduce, its activity. Each business must satisfy the eligibility criteria in their own right.
There are no plans to change the eligibility criteria for the CRSS. The CRSS is targeted at businesses who are forced to restrict access to their premises on foot of health regulations. It is a part of the broad spectrum of Government supports being provided to assist businesses impacted by COVID-19.
The Government has provided an enormous amount of support in response to the Covid-19 pandemic. A range of measures were put in place by Government to support people and businesses most affected by the financial shock of the pandemic. This support has been economy-wide, and there has also been significant additional support for sectors that have been particularly impacted by the pandemic. These include the COVID Pandemic Unemployment Payment (PUP) and the Employment Wage Subsidy Scheme (EWSS). Businesses may also be eligible to warehouse VAT and PAYE (Employer) debts and also excess payments received by employers under the Temporary Wage Subsidy Scheme. The Small Business Assistance Scheme for COVID (SBASC) and Tourism Business Continuity Scheme have also been established in order to support those businesses most at risk, with significant cost to the Exchequer. Other schemes which have been established include the Live Performance Support Scheme (LPSS) and the Music Entertainment Business Assistance Scheme (MEBAS), both of which are targeted at supporting the commercial live performance sector. My department and Revenue have been engaging with other departments including the Department of Enterprise, Trade and Employment and the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media around the development of these supports,
The purpose of the CRSS is to provide additional support to the businesses who have had to close temporarily or significantly restrict access to their premises as a direct result of public health Regulations. The Government will continue to assess the effects of the Covid-19 pandemic on the economy and I will continue to work with Ministerial colleagues to ensure that appropriate supports are in place to mitigate these effects.
381. Deputy Paul Murphy asked the Minister for Finance if he will explain his reported remarks on 4 March 2021 in which he warned of increased taxes post the Covid-19 pandemic; if he is considering specific tax increases; if so, the details of same; and if he will make a statement on the matter. [17200/21]
Amharc ar fhreagraI understand the Deputy is referring to the speech I made at the ESRI on Thursday 4 March 2021, “Taking stock and charting an economic path forward for Ireland & Europe”, in which I addressed some of the main challenges facing the Irish economy over the short, medium, and long-terms.
The Government has provided an enormous amount of fiscal support in response to the Covid-19 and Brexit crises. With a value of almost €38 billion, or nearly a fifth of national income (GNI*), the budgetary support provided by Government has been extraordinary. A range of measures were put in place by Government to support people and businesses most affect by the financial shock of the pandemic. These include the COVID Pandemic Unemployment Payment (PUP) and the Employment Wage Subsidy Scheme (EWSS). Businesses may also be eligible to warehouse VAT and PAYE (Employer) debts and also excess payments received by employers under the Temporary Wage Subsidy Scheme. The Covid Restrictions Support Scheme (CRSS), the Small Business Assistance Scheme for COVID (SBASC) and Tourism Business Continuity scheme have also been established in order to support those businesses most at risk, with significant cost to the Exchequer. Other schemes which have been established include the Live Performance Support Scheme (LPSS) and the Music Entertainment Business Assistance Scheme (MEBAS), both of which are targeted at supporting the commercial live performance sector. It is entirely appropriate that we have acted to support the economy in this way.
The current crisis is a once-in-a-century event. The fundamentals underlying our economy are strong. We started this crisis from a position of strength – a budget surplus, cash reserves and significant progress in lowering our debt. Therefore, public finances can absorb this shock, letting debt rise on a one-off basis in order to provide support to the economy.
We are committed to restoring the public finances to a sustainable trajectory and ensuring that Ireland does not become a fiscal outlier as we emerge from the pandemic period. It is expected that economic growth will do much to boost taxes and restore the public finances to a sustainable setting. Once the public health situation allows, pandemic supports must also be unwound in an appropriate and incremental way. But we must not forget that permanent increases in expenditure must be met by permanent increases in revenue. If the State is to have a larger footprint in the future, this must be paid for.
We are in a period of unprecedented uncertainty. Once the pandemic has passed and the temporary measures unwound, we will set out a clearer path towards eliminating the deficit over the medium term. With the agreement by Government on the revised plan, COVID-19 Resilience and Recovery 2021: The Path Ahead, a cautious and measured approach will be taken as we lay the foundations for the full recovery of social life, public services and the economy.
382. Deputy Emer Higgins asked the Minister for Finance if he will report on the operation of the VAT refund scheme for charities; his views on the uptake of the scheme; and if he will make a statement on the matter. [17228/21]
Amharc ar fhreagraAs the Deputy will be aware, I introduced the VAT Compensation Scheme in Budget 2018 to relieve the VAT burden on charities and to partially compensate them for the VAT paid on expenditure related to independently raised income on or after 1 January 2018. The scheme was not applicable to VAT paid in years prior to 2018.
The funding for the scheme is capped at €5 million per year and where the total amount of claims in any year exceeds this amount, refunds are paid to charities on a pro-rata basis. Charities can only make one claim per year in respect of the previous year, which must be submitted between 1 January and 30 June. For example, a claim in respect of 2018 had to be made between 1 January 2019 and 30 June 2019.
Revenue started accepting claims for the scheme in January 2019 in respect of eligible VAT paid by charities in 2018. A total of 1,143 claims were received for that year and as the total amount claimed exceeded the €5m fund, refunds were issued on a pro-rata basis, with the full fund allocated.
Last year, in response to the impact of the COVID-19 pandemic, the closing date for submission of claims was extended from 30 June 2020 to 31 August 2020. In total, 910 claims were received for that year and as the total amount claimed exceeded the €5m fund, refunds were issued on a pro-rata basis, with the full fund allocated.
Revenue is now accepting claims in respect of eligible VAT paid by charities in 2020 which must be submitted between 1 January and 30 June 2021.
As the scheme is now in its third year of operation, it is subject to review. Accordingly, officials of my Department and Revenue are engaged with the sector to review the operation of the scheme.
383. Deputy Catherine Murphy asked the Minister for Finance the number of customs officials inspections at airports (details supplied) in 2018, 2019, 2020 and to date in 2021, by location; the value of items and-or substances seized for that period; and if the visits were notified in advance. [17260/21]
Amharc ar fhreagraI am advised by the Revenue Commissioners that details of Customs inspections at the various airports, the value of items seized and information as to whether or not visits were planned or unannounced is provided in the tables below for each of the requested years. The value of contraband includes all types of seizures from excisable products, weapons, controlled drugs, meats, etc. The value detailed is the value of the products excluding duties.
I am assured by Revenue that activity levels at all these locations is evaluated and monitored on an ongoing basis and a risk based determination as to whether a physical presence is required at these locations from time to time is undertaken by Revenue. Attendance at these locations by Revenue’s customs staff is unannounced.
2018
|
- |
No of Inspections |
Value |
Substances seized |
Visits announced |
|
Weston Airport |
43 |
Nil |
Nil |
No |
|
Newcastle Aerodrome |
2 |
Nil |
Nil |
No |
|
Kilrush |
1 |
Nil |
Nil |
No |
|
Bantry |
42 |
Nil |
Nil |
No |
|
Birr |
2 |
Nil |
Nil |
No |
|
Kilkenny |
2 |
Nil |
Nil |
No |
|
Ballyboughal |
3 |
Nil |
Nil |
No |
|
Knock |
85 |
€16,921 |
56 |
No |
|
Waterford |
2 |
Nil |
Nil |
No |
|
Kerry |
52 |
€4,490 |
5 |
No |
|
Casement aerodrome |
Nil |
Nil |
Nil |
N/A |
2019
|
- |
No of Inspections |
Value |
Substances seized |
Visits announced |
|
Weston Airport |
49 |
Nil |
Nil |
No |
|
Newcastle Aerodrome |
1 |
Nil |
Nil |
No |
|
Kilrush |
Nil |
Nil |
Nil |
N/A |
|
Bantry |
39 |
Nil |
Nil |
No |
|
Birr |
2 |
Nil |
Nil |
No |
|
Kilkenny |
3 |
Nil |
Nil |
No |
|
Ballyboughal |
3 |
Nil |
Nil |
No |
|
Knock |
86 |
€12,437 |
54 |
No |
|
Waterford |
1 |
Nil |
Nil |
No |
|
Kerry |
50 |
€7,711 |
6 |
No |
|
Casement aerodrome |
2 |
Nil |
Nil |
No |
2020
|
- |
No of Inspections |
Value |
Substances seized |
Visits announced |
|
Weston Airport |
12 |
Nil |
Nil |
No |
|
Newcastle Aerodrome |
Nil |
Nil |
Nil |
N/A |
|
Kilrush |
1 |
Nil |
Nil |
No |
|
Bantry |
33 |
Nil |
Nil |
No |
|
Birr |
Nil |
Nil |
Nil |
N/A |
|
Kilkenny |
Nil |
Nil |
Nil |
N/A |
|
Ballyboughal |
3 |
Nil |
Nil |
No |
|
Knock |
17 |
€1579 |
2 |
No |
|
Waterford |
Nil |
Nil |
Nil |
N/A |
|
Kerry |
9 |
Nil |
Nil |
No |
|
Casement aerodrome |
Nil |
Nil |
Nil |
N/A |
2021
|
- |
No of Inspections |
Value |
Substances seized |
Visits announced |
|
Weston Airport |
1 |
Nil |
Nil |
No |
|
Newcastle Aerodrome |
Nil |
Nil |
Nil |
N/A |
|
Kilrush |
Nil |
Nil |
Nil |
N/A |
|
Bantry |
3 |
Nil |
Nil |
No |
|
Birr |
Nil |
Nil |
Nil |
N/A |
|
Kilkenny |
Nil |
Nil |
Nil |
N/A |
|
Ballyboughal |
Nil |
Nil |
Nil |
N/A |
|
Knock |
5 |
Nil |
Nil |
No |
|
Waterford |
Nil |
Nil |
Nil |
N/A |
|
Kerry |
Nil |
Nil |
Nil |
N/A |
|
Casement aerodrome |
Nil |
Nil |
Nil |
N/A |
384. Deputy Mattie McGrath asked the Minister for Finance the VRT payable on a vehicle (details supplied); and if he will make a statement on the matter. [17261/21]
Amharc ar fhreagraI am advised by Revenue, that a Vehicle Registration Tax (VRT) charge of €200 would ordinarily apply to the vehicle in question.
However, the vehicle should have been registered within 30 days of arriving in the State to avoid the application of late registration fees. Late registration fees are charged at a rate of 0.1% for each day (over 30 days) that the vehicle remains unregistered.
387. Deputy Marian Harkin asked the Minister for Finance if he will consider extending the help-to-buy scheme until 30 June 2022 due to the impact of Covid-19 on the availability of new homes; and if he will make a statement on the matter. [17313/21]
Amharc ar fhreagraThe Help to Buy (HTB) incentive was introduced in 2017. The measure is currently scheduled to expire on 31 December 2021.
HTB 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. An increase in the supply of new housing remains a priority aim of Government policy. The HTB scheme is specifically designed to encourage an increase in demand for affordable new build homes in order to encourage the construction of an additional supply of such properties.
HTB is designed to stimulate the supply of new houses in the housing market and to assist first-time buyers in accumulating a deposit for a new home. In order to help further meet these goals, I announced an enhancement to the existing scheme with effect from 23 July last for the remainder of 2020 as part of the July Stimulus Package. The legislation that gives effect to this is set out in the Financial Provisions (Covid-19) (No.2) Act 2020. The Finance Act 2020 further extended the period of application of the enhanced levels of support until 31 December 2021.
The question of the future of HTB support beyond its current expiry date is a matter that will be considered in due course in the context of Budget 2022 and the subsequent Finance Bill.
388. Deputy Jennifer Murnane O'Connor asked the Minister for Finance his plans to support a community banking system in Ireland; and if he will make a statement on the matter. [17331/21]
Amharc ar fhreagraAs the Deputy may be aware, my Department published a paper in December 2019 by Indecon Consulting on an Evaluation of the Concept of Community Banking in Ireland. This was a follow on to a previous paper on Local Public Banking published by my Department in 2018.
The Indecon report concluded that there is no business case for the State to establish a community banking system in Ireland, supporting the outcome of the previous report on Local Public Banking. The report notes that the Exchequer costs and risks involved would not be justified by the analysis of the causes and extent of market failure. The report also notes concerns over the ability of a new State owned bank to provide effective competition.
While Indecon’s report concluded there are some areas of market failure, it noted that there is extensive provision of and access to banking services through bank branches, credit union offices and An Post branches, as well as a wide range of Exchequer funded existing supports.
Notwithstanding recent announcements in the banking sector, this continues to be the case.
The Indecon report looked at the credit union sector, and concluded that credit unions are considered to be a ‘community bank’. Credit unions are a key provider of financial services throughout Ireland with assets of €19.6 billion and loans of €5.1 billion, and are continuing to expand the range of services they provide. The Government is supportive of the Credit Union movement growing as a key provider of community banking in the country.
The report also looked at An Post, noting that it was increasing its financial offerings and that there is a significant network of post offices in areas where there is no bank branch within five kilometres. An Post offers counter services for AIB, allowing customers to lodge and withdraw cash at An Post branches. Bank of Ireland has announced a new partnership with An Post to provide a range of banking services.
There are a wide range of models in the delivery of financial services in the State. These are being augmented all of the time, particularly in the area of online and phone app banking services. Complementing these wide range of models, we have huge diversity in the ownership of firms delivering retail services. Ownership ranges from shareholders, both domestically and internationally in the case of credit institutions and retail credit institutions, to community ownership in the case of credit unions.
389. Deputy Louise O'Reilly asked the Minister for Finance the amount of debt that has been warehoused under the tax debt warehousing scheme; the amount of this debt from microbusinesses; the amount from SMEs; and if he will make a statement on the matter. [17406/21]
Amharc ar fhreagraI am advised by Revenue that the Debt Warehousing Scheme remains available to support businesses impacted by continuing COVID-19 related public health restrictions.
The scheme is automatically available to SMEs and individuals that are managed by Revenue’s Business and Personal Divisions and by agreement with larger businesses managed by Large Corporates and Medium Enterprise Divisions, where such businesses have been adversely impacted by COVID-19.
The value of debt warehoused at the end of February 2021, broken down by Revenue Division, was as follows:
|
Division |
€m |
|
Business Division (SMEs) |
1,031 |
|
Personal Division |
25 |
|
Medium Enterprises Division |
812 |
|
Large Corporates Division |
385 |
|
Total |
2,253 |
390. Deputy Holly Cairns asked the Minister for Finance the way in which his Department and agencies under his remit are meeting obligations under the Irish Sign Language Act 2017; and if he will make a statement on the matter. [17426/21]
Amharc ar fhreagraMy Department recently completed a National Disability Authority online survey in relation to the Irish Sign Language Act 2017 and is currently preparing an appropriate action plan to ensure compliance with requirements. We have not had any requests for the service of Irish Sign Language Interpreters and will provide same if requested with the necessary notice required from the organisations providing such interpreters.
To note, my Department currently offers a loop system within its main conference room, and this is available to both staff and visitors who have cochlear implants.
There are 10 bodies under the aegis of my Department with responsibilities under the Irish Sign Language Act 2017 as follows:
The Central Bank of Ireland has set up a Disability Task force, to identify all related legal obligations, including the Irish Sign Language Act 2017, and to oversee implementation of strategies for achieving compliance with same. The task force meets at least every two months, comprises of representatives from multiple areas within the organisation and is chaired by a senior manager.
Home Building Finance Ireland (HBFI) is committed to meeting the obligations of the Irish Sign Language Act 2017. In conjunction with the National Treasury Management Agency (NTMA), HBFI has arrangements in place to do all that is reasonable to engage with members of the public when seeking to avail of or access statutory entitlements or services provided by or under statute by HBFI.
The Financial Services and Pensions Ombudsman (FSPO) has made arrangements to ensure that interpretation into Irish Sign Language can be provided when a person is seeking to avail of the services provided by the FSPO and makes such a request. The provision of interpretation shall be at no cost to the person concerned.
The Irish Fiscal Advisory Council is aware of the requirements of the Act in respect of facilitating a request by an individual seeking access in the format prescribed under this Act and will do all that is reasonable, on receipt of such a request, to ensure that interpretation into Irish Sign Language is provided.
To date, the Irish Financial Services Appeals Tribunal (IFSAT) has not had any Applicant or witness who is deaf or hard of hearing or who has required the interpretation of proceedings into Irish Sign Language. In the event that any Applicant or witness before the Tribunal requires such interpretation, IFSAT will do all that is reasonable to ensure that interpretation into Irish Sign Language is provided for such person should they seek to avail of it. IFSAT undertakes that the provision of such interpretation shall be at no cost to the person concerned.
While the National Asset Management Agency (NAMA) is aware of the obligations of public bodies under the Act, it does not currently provide services to the public nor does it broadcast press briefings. Accordingly, these obligations are not applicable to the NAMA at present. Insofar as Irish Sign Language translation services may be required, NAMA will ensure that it is fully compliant with its obligations under the Act.
The National Treasury Management Agency (NTMA), has confirmed that while it has limited services delivered to the public, it has made arrangements to be able to engage with members of the public in a manner consistent with the Irish Sign Language Act and will soon publish details in this regard on its website. The NTMA has also commenced engagement with service providers and agents in this regard.
The Office of the Revenue Commissioners ensures an interpretation service into Irish Sign Language is available to its customers at no additional cost. Also, all members of the deaf community can access Revenue services through the Irish Remote Interpreting Service (IRIS). This free service is provided by the Sign Language Interpreting Service (SLIS) and facilitates people with hearing impairment to communicate with Revenue via an on-screen interpreter.
Similar to the NTMA, the Strategic Banking Corporation of Ireland (SBCI) has limited services delivered to the public. In conjunction with the NTMA, it has made arrangements to be able to engage with members of the public in a manner consistent with the Act. In this regard, the SBCI will shortly publish such details on its website and has commenced engagement with service providers and agents.
The Tax Appeals Commission has a policy and procedure in place to meet all its obligations under the Act. To date, the Commission has not been contacted by any stakeholder who has required the use of sign language services.
391. Deputy Holly Cairns asked the Minister for Finance the details of the Acts falling under his Department which have been signed into law but not commenced; and if he will make a statement on the matter. [17444/21]
Amharc ar fhreagraMy Department has undertaken a review of legislation enacted since January 2000 falling within its areas of responsibility. As of 29 March 2021, only one Act stands uncommenced in its entirety, being the Credit Union Restructuring Board (Dissolution) Act 2020. The commencement of this legislation is deferred pending the Board’s financial statements being finalised and approved by the Comptroller & Auditor General.
392. Deputy Christopher O'Sullivan asked the Minister for Finance if he will consider reducing the VAT rate from 23% to 21% for businesses given that for 13 out of 24 weeks after the reduced rate was introduced in September 2020 more than half of retail businesses were closed and unable to avail of the reduced VAT rate; and if he will make a statement on the matter. [17552/21]
Amharc ar fhreagraThe temporary reduction from 23% to 21% in the standard rate of VAT has not been extended beyond the 28th of February.
Deputies will be aware that tax changes are generally taken in the context of the Budget. In this regard my officials prepare a series of papers containing tax options for the Tax Strategy Group to be considered in the context of the Budgetary process, alongside a wide range of submissions from various stakeholders and lobby groups.
