The consultation period will run from 14 th January 2015 to 8th April 2015, a period of 12 weeks. Any submissions received after this date may not be considered.
How to Respond
The preferred means of response is by email to: KDBconsultation@finance.gov.ie
Alternatively, you may respond by post to:
The Knowledge Development Box – Public Consultation
Tax Policy Division
Department of Finance
Upper Merrion Street
The Minister for Finance, Pascal Donohoe TD, invites interested parties to make submissions in relation to the feasibility of an insurance claim-by-claim register.
The objective of this consultation is to seek the views of stakeholders, including insurance undertakings and intermediaries, consumers, other state bodies and interest groups, on what the added value of a claim-by-claim register would be in addition to the National Claims Information Database, which is currently being developed by the Department of Finance and the Central Bank of Ireland, and the Insurance Fraud Database, which is currently being developed by the Department of Justice.
In particular, the Minister is keen to try and identify what form a claim-by-claim register could take, as there are a diverse range of views in relation to this matter, as well as a number of considerations such as data protection which would need to be satisfactorily taken account of.
The consultation period will run until 22 June 2018. Any submissions received after this date may not be considered.
Mr. Paschal Donohoe T.D., Minister for Finance and Public Expenditure and Reform, has appointed Indecon international economic consultants to undertake a review of the Employment and Investment Incentive (EII) and the Start-Up Refunds for Entrepreneurs (SURE) scheme. The purpose of the review is to assess the effectiveness and efficiency of the EII and SURE incentives and to inform government policy in this area. In summary, the terms of reference for the review include:
- To what extent do the objectives of the EII and SURE remain valid?
- What significant changes have taken place in the operating environment of the incentives since the previous review in 2014, and what are the implications of these developments for the ongoing validity of the objectives of both schemes?
- To what extent are these objectives being met?
- Are the schemes addressing the ‘market failures’ that they were introduced to address and are there any market failures that are not being addressed fully?
- Examination of cost-effectiveness of schemes:
- Are the schemes cost-effective in terms of economic benefits they deliver relative to their exchequer costs in terms of tax revenues foregone?
- Examination of alternative options which may exist for the provision of state support:
- Is it appropriate to continue to address, in whole or in part, the identified market failures through the tax system, and are there other ways in which these market failures could be addressed by the State, taking into account State Aid constraints?
- What are the effects/implications of the EU General Block Exemption Regulations (GBER) for State Aid on the EII and SURE incentives?
- How do the EII and SURE incentives compare with similar incentives in other EU Member States?
- Do the incentives, as currently designed, provide a platform for the effective operation of the reliefs?
- Are there ways in which the design of the incentives could be enhanced?
Interested persons are invited to make submissions addressing some or all of the above points by email to the Department of Finance at the contacts below. All submissions to be received by 5pm on Monday 28th May 2018.
or by post to:
C/O Patrick Brennan, Tax Policy Division
Department of Finance
Upper Merrion Street
When responding, please indicate whether you are contributing to the consultation process as an investor, a company that has/will use EII or SURE, a tax advisor, a financial advisor, a representative body, or a member of the public.
Freedom of Information
Responses to this consultation are subject to the provisions of the Freedom of Information Acts. Parties should also note that responses to the consultation may be published on the website of the Department of Finance.
Globalisation presents significant challenges in terms of measuring economic
activity. While this is the case in most advanced economies, the issues are
particularly acute in an Irish context, given the large multinational footprint.
For policy-makers, there are additional challenges, most notably related to
interpreting the real-time information embedded in standard, internationallyrecognised
metrics such as Gross Domestic Product and Gross National Income.
Movements in these aggregates have become increasingly disconnected from
actual trends in living standards in Ireland.
New Irish-specific measures of activity – most notably ‘modified Gross National
Income’ – attempt to control for (part of) the impact of globalisation on Irish
macro-economic statistics. While this is an important step forward, the data are
not yet available in ‘real’ terms nor at a sufficiently high frequency (the data are
currently published on an annual basis).
In these circumstances, it is important that short-term cyclical analysis is
cognisant of a wide suite of indicators: no single indicator provides a fully
comprehensive overview of ‘true’ economic trends at present. The Department
of Finance will continue to monitor all relevant metrics in order to fulfil its role in
providing economic and budget advice to the Minister.
Finally, it must be stressed that, notwithstanding statistical innovations, Ireland’s
legal obligations (in the area of fiscal rules, for instance) are assessed on the
internationally-agreed methodologies and there is little prospect of any change
the implementation of the Agri-taxation Review 2014;
income stabilisation and taxation.
The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe, T.D., and Minister for Agriculture, Food and the Marine, Michael Creed, T.D., invite interested parties to make submissions in relation to the progress that has been made in implementing the 25 recommendations of the Agri-taxation Review 2014. Views are also sought on how the tax system might further address income stability in the primary agriculture sector.
How to get involved?
Written submissions are welcome and should be sent to: firstname.lastname@example.org
Alternatively, you can respond by post to:
Tax Policy Division, Rm 2.2
Department of Finance
Upper Merrion Street
Please include contact details if you are responding by post.
The consultation process is open from 27th April until 17:00 25th May 2018. Any submission received after this date may not be considered. It is intended that the report of the review group will be presented to the Minister for Finance and the Minister for Agriculture, Food and the Marine in summer 2018.
27th April 2018
Aidan Murphy, Press Officer, Department of Finance – 085 886 6667
Notes for Editors:
Click here for full details on Public Consultation on Implementation of the “Agri-taxation Review” and the Issue of Income Stabilisation in the Context of Taxation.
In 2017 the Minister for Finance and Public Expenditure and Reform, Paschal Donohoe, T.D. and Minister for Agriculture, Food and the Marine, Michael Creed, T.D. committed to establish an inter-departmental working group to assess the progress made on the implementation of tax measure recommendations contained in the Agri-taxation Review 2014. This public consultation supports the commitments made by the Minister.
The 2014 review was commissioned to examine agri-taxation measures and to make recommendations to ensure resources are directed towards activities of maximum benefit to the sector. This was a joint initiative between the Department of Finance and the Department of Agriculture, Food and the Marine. The working group also included the Revenue Commissioners. The review came back with 25 recommendations, listed below. These recommendations are grouped into 6 broad categories that reflect government priorities: increase the mobility and the productive use of land; assist succession; complement wider agriculture policies and schemes; alternative farming models such as farm partnerships; responses to increasing income volatility, and; general recommendations.
The terms of reference for the group are as follows:
- A summary of the context, background and process of the Agri-tax Review.
- An update of the context since the completion of the Agri-tax Review, to include: Brexit, climate change and the abolition of milk quotas.
- A summary of outcome of Agri-taxation Review & implementation in Budgets 2015, 2016 & 2017, including a summary table of the recommendations and their implementation/current status. In particular, regard should be had to:
- Analysing income stabilisation and the proposed farm deposit scheme, including a public consultation process and resultant submissions from stakeholders, and
- The recommendation in the Agri-tax Review on data collection and management in order to comply with state-aid requirements.
- The mapping of direct and tax expenditure supports available to the agricultural sector.
- Any other matters arising in the course of the review.
As previously advised in the Budget 2018 press release:
“Minister Donohoe has announced that officials from the Departments of Finance and Agriculture will commence work on assessing progress on the review of tax measures in the Agriculture sector, which was last completed in 2014. This assessment will also concentrate primarily on the issue of income stabilisation and the issue of information collection and management to comply with EU State Aid reporting requirements. The work will be conducted in line Department of Finance Tax Expenditure Guidelines. The process will be commenced following completion of Finance Bill 2017 and is, of course, all the more important having regard to the current economic context in which the sector operates as it prepares for the challenges posed by Brexit.”
The release can be found at: https://www.finance.gov.ie/wp-content/uploads/2017/10/Finance-Bill-2017-Notes-for-Editors.pdf
The consultation period runs from 27th April 2018 to 17:00 25th May 2018.
|A. Increase the mobility and the productive use of land|
|1. Retain Relief for certain income from leasing of farm land.|
|2. Increase the income thresholds for relief from leasing income by 50%.|
|3. Introduce a fourth threshold for lease periods of 15 or more years with an exemption for the first €40,000 per annum.|
|4. Remove the lower age threshold of 40 years of age for eligibility for the long-term leasing tax relief.|
|5. Allow non-connected limited companies as an eligible lessee for the long-term leasing tax relief.|
|6. Relieve stamp duty on long-term leases (5 years or more) for agricultural land.|
|7. Raise awareness among land owners of the current reliefs for long-term leasing.|
|B. Assist succession|
|8. Retain Agricultural Relief from Capital Acquisitions Tax.|
|9. Target Agricultural Relief from Capital Acquisitions Tax to qualified or full-time farmers or to those who lease land out on a long-term basis.|
|10. Retain Retirement Relief from Capital Gains Tax at current levels.|
|11. For transfers under Retirement Relief, extend the eligible letting period of a qualifying asset to 25 years.|
|12. For transfers other than to a child under Retirement Relief, as a once-off measure until the end of 2016, allow conacre lettings as eligible.|
|13. Extend Stamp Duty Consanguinity Relief on Non-Residential Transfers to the end of 2017.|
|14. Retain current stamp duty exemptions on transfers of land.|
|C. Complement wider agriculture policies and schemes|
|15. Retain the current Capital Allowances available to the sector.|
|16. Retain current Stock Reliefs.|
|17. Retain CGT relief on farm restructuring, allow whole-farm replacement and extend the measure to the end of 2016.|
|18. Retain as tax exempt, profits or gains from the commercial occupation of woodlands.|
|19. Examine the broadening of the scope of Sustainable Energy Authority of Ireland’s (SEAI) ACA scheme to incentivise investment in energy efficient equipment by making it available to non-incorporated businesses.|
|D. Alternative farming models such as farm partnerships|
|20. Retain the current measures and review in the context of new partnership register and supports under the RDP.|
|E. Responses to increasing income volatility|
|21. Retain and enhance Income Averaging by increasing the period from 3 to 5 years.|
|22. Allow averaging to be availed of where a farmer and/or their spouse receive income from an on-farm diversification trade or profession.|
|F. General recommendations|
|23. Examine the scope for extending income averaging to forestry clear-felling profits.|
|24. The Agri-taxation Working Group should remain in place to monitor the agri-taxation measures and examine other issues arising; and specifically to:
|25. The Agri-taxation Working Group should also work to ensure better data collection on costs and benefits.|
produced by Mr. Klaus Regling and Mr. Max Watson.
This report also considered the international, social and macro-economic policy environment which provided the context for the recent crisis as well as identifying factors specifically pertaining to the Irish Banking system which exacerbated the impact of the international financial crisis for Ireland.
The second stage of the inquiry is the establishment of a Statutory Commission of Investigation, pursuant to the Commissions of Investigation Act 2004.
Aníos go Barr