Results 22,661-22,680 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (25 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 63 and 64 together. With effect from 1 January 2012, there is an exempt annual threshold of €10,036 for Universal Social Charge (USC) purposes. An individual who has income in a tax year that does not exceed this amount is not chargeable to USC. However, where this threshold is exceeded, the entire amount is chargeable. The standard rates of charge are:...

Written Answers — Tax Code: Tax Code (25 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that they are not in a position to provide a current list of statutory chargeable values and other related information due to the confidential and commercially sensitive nature of the information involved. Section 133 of the Finance Act 1992 provides the legislative basis for the requirement for manufacturers or distributors to provide a declaration...

Written Answers — Tax Code: Tax Code (25 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that when a vehicle is registered, the depreciation table used in the calculation of the vehicle registration tax charge is not recorded on the registration record for that particular vehicle. As the depreciation table assigned to each model and version of vehicle changes from time to time, it is not possible to generate the report requested.

Written Answers — Tax Code: Tax Code (25 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that statistics and details of VRT appeal cases for the period 1st January, 2003, to 23rd January, 2012, are set out in the attached spreadsheet. The 'Revised OMSP' values provided in the spreadsheet are specific to the vehicle in question in each case and take account of particular factors such as the condition of the vehicle. Such factors, which...

Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (25 Jan 2012)

Michael Noonan: I am informed by the National Treasury Management Agency, as Manager of the National Pensions Reserve Fund (NPRF), that the provisional total value of the Fund was €14.5 billion at 31 December 2011, comprising the Discretionary Portfolio of €5.4 billion and the Directed Portfolio currently held at €9.1 billion pending completion of an independent valuation review of the Fund's...

Written Answers — Budget Deficits: Budget Deficits (25 Jan 2012)

Michael Noonan: The Exchequer balance for each of the years 1995 – 2011 is set out in Table 1. The 1995-2009 figures are taken from the September 2011 Budgetary and Economic Statistics publication. The 2010 figure is from the 2010 Finance Accounts. The 2011 figure is taken from the end-December 2011 Exchequer Statement. As the figures show, in seven of the seventeen years covered, the Exchequer Account...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (25 Jan 2012)

Michael Noonan: The following table provides a breakdown of Irish resident private sector deposits held in the resident offices of credit institutions covered by the ELG scheme between January 2003 and November 2011. I have been advised by the Central Bank of Ireland that due to legislation covering confidential statistical information, the publishing of the requested level of dis-aggregation by product...

Written Answers — Tax Reliefs: Tax Reliefs (24 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the information provided in tax returns in relation to claims for tax relief in respect of investment in private nursing homes is not sufficiently detailed to provide a basis for deriving the number of private nursing homes that have qualified on a county by county basis. I am not therefore in a position to provide the information requested by...

Written Answers — Tax Code: Tax Code (24 Jan 2012)

Michael Noonan: The current rate of Stamp Duty on transfers of residential property is 1% on properties valued up to €1m and 2% on any balance over €1m. Given the low headline rate, I have no plans at present to provide a Stamp Duty exemption such as is suggested. The tax code contains a number of credits, allowances, reliefs and exemptions for people with disabilities. In addition, parents/guardians...

Written Answers — Tobacco Smuggling: Tobacco Smuggling (24 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 121 and 122 together. I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax, and for tackling the illicit trade in cigarettes and tobacco products, that the strategy employed by Revenue to tackle this illicit trade is multi-faceted. It includes ongoing analysis of the nature and extent of the problem,...

Written Answers — Financial Services Regulation: Financial Services Regulation (24 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 123, 124 and 161 together. The decision to apply to the Court for the appointment of a special manager is a matter for the Governor of the Central Bank, following consultation with me as Minister of Finance. On 13 January 2012, the Central Bank of Ireland secured a High Court Order for the appointment of a Special Manager to Newbridge Credit Union. In...

Written Answers — Tax Collection: Tax Collection (24 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that, following receipt of information from the Department of Social Protection, they note that the person concerned is and has been in receipt of an Old Age Pension. The taxpayer will have additional income tax due for the current year in respect of his Old Age Pension. This additional tax, which is estimated to be some €7,713, will be deducted...

Written Answers — Tax Collection: Tax Collection (24 Jan 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that, based on the information available to them and the additional information now supplied by the Deputy, the person concerned is not currently liable for income tax. A revised tax credit certificate will issue shortly to the person and to the pension provider. This will allow for refund of the tax paid to the person concerned by the pension...

Written Answers — Ministerial Correspondence: Ministerial Correspondence (24 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 127 and 134 together. As the Deputies will be aware, the Minister for Finance and the Department of Finance received a number of letters from the ECB during November 2010. Some of these are already in the public domain, and details of those are set out below. A letter dated 2nd November 2010 concerned the extension of the Irish State guarantee of certain...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (24 Jan 2012)

Michael Noonan: As the Deputy is aware, Anglo Irish Bank Corporation Limited changed its name to Irish Bank Resolution Corporation Limited (trading as IBRC) on 14 October 2011. The Bank has informed me that a significant part of this renaming and rebranding project was managed using internal resources. The main components of the project included the development of a new brand identity for IBRC and the...

Written Answers — Tax Collection: Tax Collection (24 Jan 2012)

Michael Noonan: The persons concerned have PAYE income and income from self-employment. The self-employed individual re-registered for Income Tax with effect from 1st March 2011 and is jointly assessed for tax purposes with his spouse who pays PAYE. Self-employed taxpayers are obliged to file an annual income tax return (Form 11) with the Revenue Commissioners. Jointly assessed couples include both...

Written Answers — Tax Collection: Tax Collection (24 Jan 2012)

Michael Noonan: I am assured by the Revenue Commissioners that in appropriate circumstances they do approve phased payment arrangements in respect of tax debt. Revenue is charged with responsibility for the timely collection and recovery of taxes and duties due to the Exchequer. Revenue has a clear focus on every person and business complying with the responsibility to pay the right amount of tax and on...

Written Answers — Mortgage Arrears: Mortgage Arrears (24 Jan 2012)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (the Code) applies to mortgage lending activities with borrowers in respect of their principal private residence in the State. Compliance with the Code is mandatory on all mortgage lenders registered with the Central Bank. The Code provides a number of protections to borrowers. These include the establishment of a formal Mortgage Arrears...

Written Answers — Tax Code: Tax Code (24 Jan 2012)

Michael Noonan: As previously stated, the "Living Alone Allowance" payable under the Social Welfare Acts is not a separate pension but rather is an increased amount of certain pensions. That is, there is one rate of pension for a person not living alone and a different rate of pension for a person living alone. Therefore, the Widow's' Pension (Contributory) and the State Pension (Contributory) as increased...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (24 Jan 2012)

Michael Noonan: Detailed below is a breakdown of data for Irish resident private sector deposits held in the resident offices of credit institutions covered by the ELG scheme. The Central Bank has indicated that it is constrained due to legislation covering confidential statistical information from publishing further dis-aggregation by product category at this time. Total Private Sector Households...