Results 20,581-20,600 of 27,019 for speaker:Michael Noonan

Consumer Credit (Amendment) Bill 2012: Second Stage (Resumed) [Private Members] (18 Jul 2012)

Michael Noonan: I would like to thank all Deputies from all sides of the House for their useful contributions to this worthwhile debate. The Government is well aware of the financial difficulties facing persons who have to resort to moneylenders for loans to meet everyday bills. This point was highlighted in the debate. It is the responsibility of the Government to ensure that the legislation underpinning...

Written Answers — National Asset Management Agency: National Asset Management Agency (17 Jul 2012)

Michael Noonan: I propose to take Questions Nos. 80 to 83, inclusive, together. NAMA advises that it does not own or operate hotels. NAMA's role in relation to the properties securing its loans is that of a secured lender. Other than properties that have been enforced, all of which are listed on NAMA's website and which are managed by the appointed receivers/administrators, properties including hotels...

Written Answers — VAT Rates: VAT Rates (17 Jul 2012)

Michael Noonan: The VAT treatment of goods and services is governed by EU law with which Irish VAT law must comply. Although there is merit in the proposal to limit tax abuse in the construction sector through the introduction of a VAT refund for home owners employing VAT compliant builders, enforcement of tax law through tax reductions is not an advisable policy, especially in the current economic climate....

Written Answers — National Asset Management Agency: National Asset Management Agency (17 Jul 2012)

Michael Noonan: I am advised by NAMA that it does not own nor does it manage properties securing its loans and that the properties to which the Deputy refers are under the control of its debtors and receivers. NAMA advises that the income arising from the rental by state bodies of approximately 82 NAMA debtor and receiver properties is of the order of €30 million per annum. NAMA advises that 48...

Written Answers — Banking Operations: Banking Operations (17 Jul 2012)

Michael Noonan: I have been informed by the Central Bank that it reviews the operational risk frameworks and the assessment processes that are in place in all the banks licensed in Ireland to assess and test for the proper functioning of processes and controls. This ongoing supervision and assessment of operational risk includes an assessment of banks' IT systems and policies and a review of the banks'...

Written Answers — Departmental Staff: Departmental Staff (17 Jul 2012)

Michael Noonan: Please find detailed below the number of Whole Time Equivalents (WTE's) employed in my Department from 1999 to end December 2011: 31 December 1999 – 531.5 31 December 2000 – 571.5 31 December 2001 – 629.5 31 December 2002 – 622.52 31 December 2003 – 619.81 31 December 2004 – 587.39 31 December 2005 – 587.09 31 December 2006 – 622.43 31 December 2007 – 628.70 31 December...

Written Answers — Tax Reliefs: Tax Reliefs (17 Jul 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the total identifiable costs to the Exchequer which are currently available relate to income tax and corporation tax allowances, reliefs, exemptions and tax credits available as set out in the following tables for 2008 and 2009, the most recent year for which the necessary detailed historical information is available. It should be noted that...

Written Answers — Tax Code: Tax Code (17 Jul 2012)

Michael Noonan: The €1 billion figure is an estimate based on a corporation tax figure provided by the Revenue Commissioners added to an estimate of payroll taxes which was derived from employment and average salary figures contained in a report which was published by Financial Services Ireland (FSI) in September 2010 - The IFSC - the international financial services sector in Ireland. The report...

Written Answers — Financial Services Sector Remuneration: Financial Services Sector Remuneration (17 Jul 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the information requested by the Deputy is not readily available and either could not be identified or could not be identified without conducting an extensive investigation of the Revenue Commissioners' records. Even if the information in question was available, the Commissioners' would be concerned that that their obligation to observe...

Written Answers — Financial Services Regulation: Financial Services Regulation (17 Jul 2012)

Michael Noonan: I propose to take Questions Nos. 91 to 93, inclusive, together. Neither my Department nor the Central Bank compiles detailed information in relation to employment in the international financial services sector in Ireland. The figure to which the Deputy refers was sourced from a report compiled by the Finance Dublin Yearbook which provides a breakdown of international financial services...

Written Answers — Tax Collection: Tax Collection (17 Jul 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information for 2007, 2008, 2009 and 2010 is available from the Revenue Statistical Reports which are accessible on the Revenue website at www.Revenue.ie. The information is located in Table TR6, under the main chapter heading of Total Revenue. That table provides a percentage breakdown of the net receipt of PAYE, VAT, Income Tax,...

Written Answers — Tax Collection: Tax Collection (17 Jul 2012)

Michael Noonan: I am informed by the Revenue Commissioners that with the change in the corporation tax rate from10% to the standard rate now applying to IFSC activities it is no longer possible to distinguish on tax records between corporation tax paid solely on IFSC activities and on other income. Arising from this a detailed record specifically identifying companies engaged in IFSC activities is not...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (17 Jul 2012)

Michael Noonan: I believe the Deputy is referring to a speech delivered by the Governor of the Central Bank of Ireland at the Institute for International and European Affairs (IIEA) on 29 June 2012 entitled – "More Europe" in the Financial Arena: Good for Ireland? The Central Bank has supplied me with the following breakdown of the allocation of banking losses/cost of capital injections that I...

Written Answers — Tax Collection: Tax Collection (17 Jul 2012)

Michael Noonan: I propose to take Questions Nos. 97 and 98 together. I am informed by the Revenue Commissioners that, on the basis of the entries to the Form 11 Return of Income for 2010 by persons who indicated that they were resident, but non-domiciled, the following amounts of income tax liability arose: Tax range € Total tax liability within range € 0 to 25,000 11,733,327 25,001 to 50,000...

Written Answers — Tax Reliefs: Tax Reliefs (17 Jul 2012)

Michael Noonan: The position is that income tax relief for contributions paid to permanent health benefit schemes is allowable in accordance with section 471 of the Taxes Consolidated Act 1997. This section provides relief for premiums paid to a permanent health benefit scheme approved by the Revenue Commissioners, which provides for periodic payments to an individual in the event of loss or diminution of...

Written Answers — Tax Reliefs: Tax Reliefs (17 Jul 2012)

Michael Noonan: The following table provides a breakdown of the estimated cost of tax and PRSI reliefs relating to private pension contributions for 2006, 2007, 2008 and 2009, the latest year for which the most up-to-date data is available together with estimates of the notional or imputed cost of the tax exemption for the investment income and gains of approved superannuation funds. Corresponding estimates...

Written Answers — Tax Credits: Tax Credits (17 Jul 2012)

Michael Noonan: The Foreign Earnings Deduction is a deduction from income for income tax purposes for employees who travel abroad to certain countries as part of the duties of their employment. A deduction from salary of up to a maximum of €35,000 will be granted for employees travelling to the so-called BRICS countries, namely Brazil, Russia, India, China and South Africa as part of the duties of their...

Written Answers — Tax Code: Tax Code (17 Jul 2012)

Michael Noonan: The Programme for Government indicates that, as part of its fiscal policy, the Government will ensure that "tax exiles" make a fair contribution to the Exchequer. In Budget 2012, I abolished the "citizenship condition" for payment of the Domicile Levy to ensure that "tax exiles" could not avoid the levy by renouncing their citizenship. I also stated that I intend to keep the contentious...

Written Answers — Tax Credits: Tax Credits (17 Jul 2012)

Michael Noonan: The Programme for Government states that as part of the Government's fiscal strategy we will maintain the current rates of income tax together with bands and credits.

Written Answers — Financial Services Regulation: Financial Services Regulation (17 Jul 2012)

Michael Noonan: The lending institutions in Ireland are independent commercial entities. Ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of each lending institution, having due regard to their customers and the impact on profitability, particularly where the cost of funding to each lending...