Results 20,601-20,620 of 27,019 for speaker:Michael Noonan

Written Answers — Revenue Documents: Revenue Documents (17 Jul 2012)

Michael Noonan: I am advised by the Revenue Commissioners that legislation now obliges taxpayers within certain categories to meet their tax filing and paying obligations in an electronic format using the Revenue On-Line Service, ROS. ROS was introduced in 2001 and the legislation underpinning mandatory electronic filing was introduced in 2008 on a phased basis, commencing with large companies, and...

Written Answers — Export Statistics: Export Statistics (17 Jul 2012)

Michael Noonan: I note the Deputy's concerns regarding exports through Dublin Port, particularly given that exports have been the bedrock upon which Ireland's recovery has been based. However, I would point to the recently published Quarterly National Accounts (QNA) which provides hard data on exports. Exports were 6.1 per cent higher for the first quarter of 2012 than in the corresponding period in 2011....

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (17 Jul 2012)

Michael Noonan: As the Deputy can appreciate, the welcome recent development from the Euro Area summit of 29th June, represents a major shift in European policy in terms of breaking the vicious circle between the banks and the sovereign. The Irish government and its officials have been working extremely hard to secure a deal on the Irish bank debt. This agreement provides an opportunity for the issue of the...

Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (17 Jul 2012)

Michael Noonan: I am informed by the National Treasury Management Agency, as Manager of the National Pensions Reserve Fund (NPRF), that the total value of the Fund at 31 March 2012 was €15.1 billion and that the value of the Discretionary Portfolio was €5.8 billion. In announcing the Strategic Investment Fund (SIF) initiative in September 2011, the Government indicated a refocusing of the investments...

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

Michael Noonan: I have been informed by the Central Bank that a total of €341,801 was paid in levies by moneylenders to the Financial Regulator in 2011. It is expected that moneylenders will pay levies in the order of €300,000 in 2012. The Central Bank utilises a cost allocation model, developed by external consultants in 2004, to establish the cost of regulating each industry funding category. This...

Written Answers — Ministerial Allowances: Ministerial Allowances (17 Jul 2012)

Michael Noonan: I have no official responsibility to the Dail in relation to this matter. Members of the Oireachtas that are office holders in this Department receive their allowances as members of the House. Therefore, the allowances they receive are a matter for the House itself.

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

Michael Noonan: I am advised by the Revenue Commissioners that the Mineral Oil Tax and VAT content of a litre of Petrol and Diesel, based on the stated prices are as follows: Commodity Price per Litre Mineral Oil Tax Content VAT Content Total Tax Content 1 Litre (Cent) (Cent) (Cent) (Cent) Petrol 136 58.771 25.431 84.202 Diesel 143 47.902 26.740 74.642 The Mineral Oil Tax and VAT content of a...

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

Michael Noonan: The position is that Section 465 of the Taxes Consolidation Act 1997 provides for an annual tax credit of €3,300 for each qualifying child that a claimant proves is living with him during the year of assessment. For these purposes a qualifying child is – (a) if under 18 years of age, permanently incapacitated by physical or mental infirmity, or (b) if over 18 years of age either...

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

Michael Noonan: I am advised by the Revenue Commissioners that a claim for the Incapacitated Child Tax Credit for years 2007 to 2010 was received from the person concerned. Section 465(2)(a) states that 'a child under the age of 18 years shall be regarded as permanently incapacitated by reason of mental or physical infirmity only if the infirmity is such that there would be a reasonable expectation that if...

Written Answers — House Sales: House Sales (17 Jul 2012)

Michael Noonan: I am informed by the Revenue Commissioners that they transmit an extensive range of data to the Central Statistics Office (CSO) on a regular basis and have well-established, effective systems and liaison arrangements with the CSO for that purpose. The two organisations have been working closely together to secure the transfer of data relating to house transactions from the Revenue...

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

Michael Noonan: I can remind the Deputy that under the NAMA Act it is a matter for the Board of NAMA, taking account of legal advice available to it, to determine whether certain loans be acquired or not and the procedures to be adopted if it does decide to acquire. In the case identified by the Deputy, I am advised by NAMA that Mr McKillen's views on the acquisition of his loans were well known to its...

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

Michael Noonan: I am advised by NAMA that further information in respect of the fair value of financial statement assets and liabilities as at 31 December 2011 will be provided in NAMA's 2011 Annual Report which will be published later this month. The fair value of loans shown by Allied Irish Bank, Bank of Ireland and Irish Life and Permanent in their 2011 annual reports is a matter for the directors of each...

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

Michael Noonan: I can remind the Deputy that all NAMA staff are employed by the National Treasury Management Agency (NTMA) and the costs are recharged to NAMA by the NTMA as a service provider. Staff-related costs of the total 2011 recharge from the NTMA will be provided in NAMA's Annual Report which will be published later this month. The staff related costs of the total recharge from the NTMA will be...

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

Michael Noonan: I am advised by the Revenue Commissioners that a Tax Credit Certificate for 2012 issued to both the person concerned and his pension provider. The Revenue Commissioners will now provide copies to both parties. In this case the person concerned was in receipt of a DSP Transitory Pension for 2010 and 2011 and a contributory pension from 2011. Details of these pensions were not provided to...

Written Answers — Credit Unions Regulation: Credit Unions Regulation (17 Jul 2012)

Michael Noonan: Section 21 of the Credit Union Act 1997 provides that a member of a credit union who is of or over the age of sixteen may, by a signed written statement, nominate a person or persons to become entitled at the member's death to the whole, or such part or parts as may be specified in the nomination, of any property in the credit union (whether in savings, loans, insurances or otherwise) which...

Written Answers — Pension Provisions: Pension Provisions (17 Jul 2012)

Michael Noonan: Contributions to supplementary private pension savings are tax-relieved, within limits, at an individual's marginal rate of income tax while the accrued income and gains on those savings are exempt from taxation. These arrangements apply on the basis that the pension benefits when taken at retirement will be subject to tax. In an arrangement of long standing, an individual can, on retirement...

Written Answers — Mortgage Interest Relief: Mortgage Interest Relief (17 Jul 2012)

Michael Noonan: This is a matter for the Revenue Commissioners who are responsible for the administration of mortgage interest relief through the tax relief at source (TRS) system. I am advised by Revenue, that they have had on-going contacts and discussions at a senior level with Ulster Bank towards expediting the necessary software changes by Ulster Bank to their TRS systems so that the 30% rate is...

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

Michael Noonan: I can confirm to the Deputy that the firm mentioned by him is regulated as a moneylender by the Central Bank. I refer the Deputy to Part VIII of the Consumer Credit Act 1995, as amended, for detailed information on the licensing procedure with regard to moneylenders. Moneylenders have to apply annually to the Central Bank to have their licences renewed. Section 93 of the Consumer Credit Act...

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

Michael Noonan: I am advised by the Revenue Commissioners that, for reasons of taxpayer confidentiality, the Revenue Commissioners are not in a position to comment on the tax affairs of the company mentioned by the Deputy, other than to say that the Deputy can be assured that the matters raised by him will be examined.

Written Answers — National Drugs Strategy: National Drugs Strategy (17 Jul 2012)

Michael Noonan: I am informed by the Revenue Commissioners that they are a fully integrated tax and customs administration. Revenue currently has over 2,000 staff engaged on activities that are dedicated to target and confront non-compliance. These front-line activities include audit, assurance checks, anti-smuggling, investigations, prosecutions and anti-avoidance. Revenue, in implementing the actions of...