Results 22,061-22,080 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Collection: Tax Collection (6 Mar 2012)

Michael Noonan: I am advised by the Revenue Commissioners that non-established businesses that incur VAT in one Member State for the purposes of their taxable business in another Member State are entitled to a refund of that VAT where certain conditions are met. EU Council Directive 2008/9/EEC sets out those conditions and the claims for refund are processed through the Electronic VAT Refund (EVR) system....

Written Answers — Tax Code: Tax Code (6 Mar 2012)

Michael Noonan: The tax deduction introduced by the Oireachtas (Allowances to Members) and Ministerial and Parliamentary Offices (Amendment) Act 1992 applies in respect of the expense incurred in maintaining a second residence. The legislation does not specify the nature that a second residence has to take. Accordingly, I am informed by the Revenue Commissioners that they have set out their views on how they...

Written Answers — Tax Code: Tax Code (6 Mar 2012)

Michael Noonan: Details of all determinations made by the Revenue Commissioners under section 195 of the Taxes Consolidation Act 1997, including the years 2009, 2010 and 2011 are available on the Revenue website at http://www.revenue.ie/en/tax/it/leaflets/artists-exemption-s ection-195-1997-act.html. This list is updated on a quarterly basis. The criteria under which determinations are made are set out in...

Written Answers — Tax Code: Tax Code (6 Mar 2012)

Michael Noonan: The proposed betting (Amendment) Bill, which is being drafted at present, will amend the 1931 Betting Act to inter alia establish the regulatory framework for the licensing of remote bookmakers and betting exchanges, including measures to enforce the regulatory framework. The drafting of the Bill, which is fairly complex, is well advanced. The Finance Act 2011 contained measures to allow for...

Written Answers — Tax Code: Tax Code (6 Mar 2012)

Michael Noonan: I am advised by the Revenue Commissioners that provisions covering the Travel Agents Margin Scheme are contained in Section 88 of the VAT Consolidation Act 2010. This scheme, which is provided for in Articles 306 to 310 of the EU VAT Directive, with which Irish VAT law must comply, was introduced with effect from 1 January 2010. Detailed discussions with the travel industry were carried out...

Written Answers — Tax Collection: Tax Collection (6 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that a claim for refund of PAYE overpaid in 2011 by the persons concerned was received by Limerick Tax District on 1 March 2012. The refund was in the amount of €784.18, and was approved for payment by Limerick Tax District on the same day on which it was received. There are no other outstanding tax liabilities or refunds on record for the...

Written Answers — Departmental Staff: Departmental Staff (6 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that no decision has been taken by them to transfer their payroll section from Ennis to Mayo. The Government has agreed a strategic approach to progress shared services in all sectors of the Public Service. This is in line with the Programme for Government and the Public Sector Reform Plan and is explicitly provided for in the Croke Park Agreement....

Written Answers — Tax Reliefs: Tax Reliefs (6 Mar 2012)

Michael Noonan: Mortgage interest relief is available only to individuals. I am advised by the Revenue Commissioners that the process of registering for such relief is undertaken by the individual/s to whom a particular mortgage in respect of a principal private residence applies rather than the mortgage provider or relevant financial institution. Revenue has confirmed that following representations made by...

Written Answers — Financial Services Regulation: Financial Services Regulation (6 Mar 2012)

Michael Noonan: The banking system restructuring plan creates capacity for the two pillar banks, namely Bank of Ireland and AIB to provide lending in excess of €30 billion in the next three years. SME and new mortgage lending for these banks is expected to be in the range of €16 to €20 billion over this period. The lending capacity is incorporated into the banks' deleveraging plans which allow for...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (6 Mar 2012)

Michael Noonan: I propose to take Questions Nos. 121 and 122 together. I am advised by the Revenue Commissioners that the sale of new houses by a builder or developer is subject to VAT at the reduced rate of 13.5%. VAT legislation provides that the seller is obliged to remit to the Revenue Commissioners the VAT on the sales, less certain input VAT. Where, at the time of the sale, the houses are under the...

Written Answers — Illicit Trade in Tobacco: Illicit Trade in Tobacco (6 Mar 2012)

Michael Noonan: The 2009 Comptroller and Auditor General's Report on the Accounts of the Public Services, in addressing the issue of tobacco smuggling, suggested that, in order to assess the performance of the Revenue container scanners, a comparison of detection rates with those of other countries would be useful. Revenue commenced such a study in 2011. This study involves liaison with the relevant...

Written Answers — Illicit Trade in Tobacco: Illicit Trade in Tobacco (6 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that they monitor the effectiveness of their programmes and strategies for counteracting the illicit tobacco trade on an ongoing basis. As part of this process the legislative penalties for excise evasion are regularly assessed in terms of their deterrent value. In this regard the Finance Act 2010 introduced significantly increased monetary...

Written Answers — Disabled Drivers: Disabled Drivers (6 Mar 2012)

Michael Noonan: I am advised by the Revenue Commissioners that an authorised dealer is a person who is authorised under section 136 of the Finance Act 1992 (as amended) "to manufacture, distribute, deal in, deliver, store, repair or modify unregistered vehicles and to convert registered vehicles". Authorisation brings a number of responsibilities concerning the management and record keeping in relation to...

Written Answers — Tax Reliefs: Tax Reliefs (6 Mar 2012)

Michael Noonan: Claims for relief from double taxation ("correlative adjustments") arise in Ireland as a result of an upward adjustment to company profits in a country with which we have a double taxation treaty. A company may make a claim for a correlative adjustment to Revenue in Ireland where tax paid in the other country is increased as a result of such an upward adjustment and the associated company in...

Written Answers — Tax Code: Tax Code (6 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that, for reasons of taxpayer confidentiality, they cannot comment on specific cases. However, I am informed by the Revenue Commissioners that their views on the tax treatment of the reimbursement of expenses of travel and subsistence have been in the public domain for some considerable time and are contained in their Statement of Practice titled...

Written Answers — Tax Collection: Tax Collection (6 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that a P21 was issued to the person concerned on 2 March 2012.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Mar 2012)

Michael Noonan: The lending institutions in Ireland, including those in which the State has a significant shareholding, 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...

Written Answers — EU Treaties: EU Treaties (6 Mar 2012)

Michael Noonan: The European Stability Mechanism (ESM) Treaty, which was signed by all euro area Member States on 2 February, subject to ratification, provides "that the granting of financial assistance in the framework of new programmes under the ESM will be conditional, as of 1 March 2013, on the ratification of the Intergovernmental Treaty (IGT) by the ESM Member concerned" and on implementation of the...

Written Answers — Tax Collection: Tax Collection (6 Mar 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that, based on the information currently available, the person is receiving the correct tax credits for 2012.

Written Answers — Banks Recapitalisation: Banks Recapitalisation (6 Mar 2012)

Michael Noonan: The Deputy is aware that under the Relationship Framework the Board of the bank is responsible for the day to day operations of the bank including the funding of the bank. I have been informed by the bank that there are two subordinated private placement bonds that were issued in 2005 and documented under US law, that are now held by Fir Tree. The bank became aware that Fir Tree was the new...