Results 22,801-22,820 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Audits: Tax Audits (12 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the overall approach to tackling compliance is to examine all the tax risks to the Exchequer and to make the appropriate intervention in carefully selected cases. By carefully selecting the cases for intervention, and carefully choosing the type of intervention, Revenue maximises the use of resources, and minimises the compliance burden on...

Written Answers — Tax Code: Tax Code (12 Jan 2012)

Michael Noonan: The Central Statistics Office, CSO, provides data on the number of deaths in a calendar year. I am advised by the CSO that the figures for deaths occurring in the year from 2005 to 2008 are as follows: Year 2005 2006 2007 2008 No. Deaths 28,260 28,488 28,117 28,274 Information for 2009 and 2010 is currently only available on the number of deaths registered in those years, as opposed to...

Written Answers — Tax Code: Tax Code (12 Jan 2012)

Michael Noonan: I propose to take Questions No 96, to 98, inclusive, together. I am informed by the Revenue Commissioners that the relevant available figures are as follows: TABLE 1 Year Taxable Benefits - Form IT38€ million € million Death Gift 2001 903 286 2002 1,095 371 2003. 1,068 723 2004 1,696 408 2005 2,110 672 2006 2,542 1,026 2007 3,374 1,726 2008...

Written Answers — Tax Yield: Tax Yield (12 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 99 and 100 together. In preparing forecasts for capital acquisition tax receipts, the methodology adopted by my Department involves the estimate of the outturn for the outgoing year. This becomes the base for the preparation of the projection for the forecast year. The resulting projected outturn is then adjusted as necessary to take account of the effects...

Written Answers — Tax Yield: Tax Yield (12 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the breakdown of yield from Capital Acquisitions Tax (CAT) for the years in question is as follows: Year Inheritance tax€m Gift tax€m Discretionary Trust tax €m Probate tax€m 2009 201.6 50.5 2.9 0.6 2010 86.2 46.8 3.0 0.5 On the basis of the taxable values of gifts or inheritances liable to tax, the breakdowns of the 2009 and 2010...

Written Answers — Economic and Monetary Union: Economic and Monetary Union (11 Jan 2012)

Michael Noonan: Targeting an appropriate structural balance has been a feature of the European fiscal framework for a number of years already. To help ensure sustainable economic and budgetary policies, the structural balance is an appropriate tool, as it provides greater clarity on the underlying budgetary position by adjusting the headline fiscal position for short-term movements in the economic cycle....

Written Answers — Tax Code: Tax Code (11 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that charitable donations made via SMS text message, excluding any fees charged by the telecommunications provider or other service provider, are outside the scope of Irish VAT. Any fees charged by the telecommunications service providers in connection with the facilitation of donations are liable to VAT at the standard rate of 23%....

Written Answers — Vehicle Registration: Vehicle Registration (11 Jan 2012)

Michael Noonan: The registration plate in place under the current system allows members of the public and car buyers to ascertain, at a glance, both the year and county of registration of a vehicle. It is seen as a simple and effective registration plate system which is indeed the envy of many European registration authorities, including the UK. A move to a more complicated plating system, using variations...

Written Answers — Motor Taxation: Motor Taxation (11 Jan 2012)

Michael Noonan: I do not intend to seek to replace the current system of motor tax with additional taxation on motor fuel. Motor tax receipts for 2011 were in the order of €1bn. Maintenance of the tax base would require an increase in fuel excise rates of more than 20 cent per litre, with direct negative impacts on the rate of inflation and economic competitiveness. Goods vehicles and other high usage...

Written Answers — Insurance Industry: Insurance Industry (11 Jan 2012)

Michael Noonan: Neither the Central Bank nor I, as Minister for Finance, have powers to compel insurance companies to quote for business. The decision to provide any specific form of insurance cover and the price at which it is offered is a commercial matter for individual insurers. I am advised that individual insurers make their own decisions in respect of areas that are deemed to be of risk of...

Written Answers — Tax Yield: Tax Yield (11 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the amount of the levy on authorised health insurers collected in the years 2009 to 2011 is as follows: Tax Year Amount 2009 €197million 2010 €317million 2011 €346million The 2011 figure is provisional and subject to revision. The rates of payment of age related tax credits (ARTC) for the different categories each year are as...

Written Answers — Motor Taxation: Motor Taxation (11 Jan 2012)

Michael Noonan: The legislation governing Vehicle Registration Tax provides that a vehicle may be registered without payment of VRT if the vehicle is the personal property of an individual and is being brought permanently into the State by the individual when he/she is transferring his/her normal residence from a place outside the State to a place in the State. This exemption (referred to as Transfer of...

Written Answers — Tax Reliefs: Tax Reliefs (11 Jan 2012)

Michael Noonan: A Minister or a Minister of State, whose official duties as an office holder or as a member of the Oireachtas require him or her to maintain a second residence in addition to his or her main residence, can claim an income tax deduction in respect of expenses incurred in maintaining that second residence. The allowance is confined to office holders who represent constituencies outside the...

Written Answers — Credit Availability: Credit Availability (11 Jan 2012)

Michael Noonan: As the Deputy may be aware, the Credit Review Office was established to help SME or farm borrowers who have had an application for credit of up to €500K declined or reduced, and who feel that they have a viable business proposition. The CRO also look at cases where borrowers feel that the terms and conditions of their existing loan, or a new loan offer, are unfairly onerous or have been...

Written Answers — Gambling Regulations: Gambling Regulations (11 Jan 2012)

Michael Noonan: The Finance Act 2011 contains legislation that, subject to a Ministerial Commencement Order, provides for the extension of betting duty to remote bookmakers and betting exchanges. The tax changes provided for in the Finance Act can only be implemented once the Betting (Amendment) Bill, which will provide for a regulatory and licensing regime, is enacted. The Betting (Amendment) Bill 2011 is...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (11 Jan 2012)

Michael Noonan: Neither the Central Bank nor the Department of Finance has a statutory function in relation to interest rate decisions made by individual lending institutions at any particular time. However, I can confirm to the Deputy that Permanent TSB did pass on, in full, the recent reductions to customers holding standard variable rate (SVR) mortgages and reduced further their LTV standard variable...

Written Answers — Tax Code: Tax Code (11 Jan 2012)

Michael Noonan: The position is that the Universal Social Charge (USC) does not apply to social welfare payments or payments of a similar nature. However, I should point out that occupational pensions are liable to the USC, if the payment is greater than the exemption limit, which from 1 January 2012 is €10,035 per annum.

Written Answers — Tax Reliefs: Tax Reliefs (11 Jan 2012)

Michael Noonan: As I stated in my Budget speech, the Government has now fulfilled its commitment contained in the Programme for Government to increase the rate of mortgage interest relief to 30 per cent for first-time buyers who took out their first mortgage in the period 2004 to 2008. The individuals in question do not qualify for the increased rate of mortgage interest relief, however, they should be able...

Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (11 Jan 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that they are contacting the person concerned to obtain the full details necessary to issue the tax credit certificate.

Written Answers — Government Bonds: Government Bonds (11 Jan 2012)

Michael Noonan: Data supplied to my Department by the Central Bank of Ireland concerning the average maturity of Government bonds issued since 1990 is set out in the accompanying table. The Deputy should be aware that the information only pertains to Government bonds on the Central Bank's register and shows the simple average maturity on first issuance of new Government bonds in each year. Average...