Results 22,861-22,880 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I am informed by the Revenue Commissioners that the revenue accruing to the Exchequer through various motor taxes i.e. excise and carbon tax on petrol and auto-diesel, vehicle registration tax and VAT, from 2009 to date is shown in the following table. As VAT receipts are not disaggregated by sector, the figures shown for VAT are estimated. VAT figures for 2011 are not yet available....

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

Michael Noonan: I am advised by the Revenue Commissioners that the information requested, estimated by reference to the income tax year 2011, is set out in the following table. However, because of the Revenue Commissioners' obligation to observe confidentiality in relation to the taxation affairs of individual taxpayers and small groups of taxpayers, the breakdown by income bands requested by the Deputy is...

Written Answers — Departmental Agencies: Departmental Agencies (11 Jan 2012)

Michael Noonan: The information requested by the Deputy in relation to agencies under the remit of my department is as follows: National Treasury Management Agency (NTMA) There are 5 Boards coming under the NMTA as outlined in the following table. Please note that, in line with paragraph 3.8 of the Code of Practice for the Governance of State Bodies, attendance at meetings of the National Treasury...

Written Answers — Tax Code: Tax Code (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. I will be looking at the technical detail of how this will operate in the preparation of the Finance Bill.

Written Answers — Liquor Licences: Liquor Licences (11 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that they are responsible for the administration of the issue or renewal of public house licences. The numbers of licences issued for each of the calendar years 2007, 2008, 2009, 2010 and 2011 to date are set out below. Please note that the licensing year runs from the 1st October to the 30th September. 2007 2008 2009 2010 2011 No. Issued No....

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

Michael Noonan: I am aware of the interest rates charged by Permanent TSB. However 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...

Written Answers — Personal Debt: Personal Debt (11 Jan 2012)

Michael Noonan: I am aware of the difficulties that the Deputy refers to in his question. In that regard, the Central Bank has advised me that they wrote to all mortgage lenders to ascertain whether they were offering, or intended to offer, a mortgage product that would allow home owners to sell their existing home and transfer the negative equity portion of the original loan to the new loan. In response...

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

Michael Noonan: The position is that the married person's tax credit is only available where the persons concerned are married, or are registered as civil partners under the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 and are jointly assessed to tax. The Certain Rights and Obligations of Cohabitants Act 2010 only applies to same sex couples. Where the individuals concerned...

Written Answers — General Government Debt: General Government Debt (11 Jan 2012)

Michael Noonan: The latest data for which the General Government Debt can be disaggregated is 30/09/2011. This estimate is produced by the Central Statistics Office using data from the NTMA and the Department of Finance. The CSO compiles quarterly estimates of General Government Debt one quarter in arrears. General Government Debt at 30 September 2011 is reported as EUR162 billion, of which EUR130 billion...

Written Answers — General Government Debt: General Government Debt (11 Jan 2012)

Michael Noonan: General Government Debt grew from 25% of GDP in 2007 to 107% of GDP in 2011. The change in nominal terms over the entire period is EUR119m. The official measures of General Government Debt for 2007 to 2010 are given in the table below, along with an estimate for 2011. These are based on data published by the CSO, the NTMA and Department of Finance. The estimate for 2011 is based on the...

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

Michael Noonan: I am informed by the Revenue Commissioners that it is not possible to identify agricultural diesel separately but the figures for Marked Gas Oil (MGO), which is mainly used for agriculture, industrial and heating purposes are given below. It should be noted that 2011 figures are provisional and subject to change. 2009 2010 2011(Prov) Litres('000) Litres('000) Litres('000) MGO 1,274,063...

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

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of mineral oil tax and for tackling the illicit trade in mineral oil products, that they are acutely aware of the various illegal activities that lead to loss to the Exchequer of mineral oil tax. The most serious risk in this regard is the large scale laundering of markers from mineral oil which is subject to a...

Written Answers — Electronic Payments: Electronic Payments (11 Jan 2012)

Michael Noonan: In June 2009 the National Payments Implementation Plan Advisory Group presented my predecessor with recommendations for a proposed new Payments Task Force to develop a strong, shared commitment to implementing a modern, efficient payments environment, driven by the requisite leadership and investment from key stakeholders. The Advisory Group also recommended that a national payments plan...

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

Michael Noonan: This issue is under ongoing discussion with the Northern Ireland authorities. I am informed by the Revenue Commissioners, who are responsible for the collection of mineral oil tax and for tackling the illicit trade in fuel products, that they are aware of the threat to the Exchequer posed by laundered fuel. The predominant illicit activity in the mineral oil area in both Northern Ireland and...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (11 Jan 2012)

Michael Noonan: The bank recapitalisation commitments made by the State to date are set out in the following table: €bn AIB/EBS BoI IL&P IBRC (Anglo/INBS) Total Government preference Shares (2009) - NPRF 3.5 3.5* - - 7.0 Capital contributions (with Promissory Notes as consideration) /Special Investment Shares (2010) – Exchequer ** 0.9 - - 30.7 31.6 Ordinary Share Capital (2009) – Exchequer - - -...

Written Answers — Pension Provisions: Pension Provisions (11 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that there is no issue of non-payment of tax on private pensions. The issue which is currently topical relates to the payment of tax on Department of Social Protection Pensions. In September 2011, under the auspices of a High Level Group of officials charged with ensuring ever closer working between the Department of Social Protection and Revenue,...

Taxation Agreements: Motions (16 Dec 2011)

Michael Noonan: I move the following motions: That Dáil Éireann approves the following Order in draft: Double Taxation Relief (Taxes on Income and Capital) (Federal Republic of Germany) Order 2011, a copy of which was laid before Dáil Éireann on 25th November, 2011.

Written Answers — Tax Reliefs: Tax Reliefs (15 Dec 2011)

Michael Noonan: Sections 472A and 88A of the Taxes Consolidation Act 1997 provide tax incentives for both employers and employees, to help the long-term unemployed to return to employment. The relief under Section 472A, known as the Revenue Job Assist scheme, allows qualifying employees, in addition to their normal tax credits, to claim certain income deductions, including additional deductions for...

Written Answers — Tax Reliefs: Tax Reliefs (15 Dec 2011)

Michael Noonan: The maximum amount that can be raised by a company in a 12 month period under the Business Expansion Scheme (BES) is €1.5m. The lifetime amount that can be raised by a company under BES is €2m. Relief at the individual's marginal rate of tax can be claimed by a qualifying individual who invests in eligible shares. These amounts were not changed in Budget 2012. However, no relief will...

Written Answers — Tax Code: Tax Code (15 Dec 2011)

Michael Noonan: Legal advice has indicated that proposals to exempt from VAT service companies that export more than 90% of their output may not be in accordance with EU VAT law.