Results 23,721-23,740 of 27,019 for speaker:Michael Noonan
- Written Answers — Tax Collection: Tax Collection (11 Oct 2011)
Michael Noonan: This is matter for the Revenue Commissioners. I am advised by Revenue that at the time the debt in question was sent to the sheriff for collection, the person concerned had been given full credit for VAT repayments due to him up to that time. He had failed to engage with Revenue on the payment of the balance of the debt due and therefore the debt was correctly referred to the sheriff for...
- Written Answers — Tax Code: Tax Code (11 Oct 2011)
Michael Noonan: Vehicle registration tax is charged on the Open Market Selling Price (OMSP) of a vehicle which for new vehicles is defined in Section 133 (2) of the Finance Act 1992 as (2) (a) For a new vehicle on sale in the State which is supplied by a manufacturer or sole wholesale distributor, such manufacturer or distributor shall declare to the Commissioners in the prescribed manner the price,...
- Written Answers — National Asset Management Agency: National Asset Management Agency (11 Oct 2011)
Michael Noonan: NAMA has not reduced the principal on loans for borrowers. The Chairman of NAMA recently assured the Joint Committee on Finance, Public Expenditure and Reform that NAMA remains as focused as ever on pursuing each developer for the full amount owed. He also explained that NAMA's minimum target is to recover what it has paid for the loans, plus any other moneys advanced as working capital or...
- Written Answers — Liquor Licences: Liquor Licences (11 Oct 2011)
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. Please note that the licensing year runs from the 1st October to the 30th September. 2006 2007 2008 2009 2010 2011 to date No....
- Written Answers — Tax Code: Tax Code (11 Oct 2011)
Michael Noonan: I am aware of the importance of the farming sector and of making the sector more productive. To that end, tax legislation already contains a number of reliefs and allowances which reduce the tax burden on transfers of land from one generation to another. Capital Acquisitions Tax (CAT) includes gift and inheritance tax. There are group tax free thresholds for CAT which are based on the...
- Written Answers — Liquor Licences: Liquor Licences (11 Oct 2011)
Michael Noonan: The Deputy will be aware the rate of excise duty on off-licences was reviewed in the context of the 2008 and 2009 Budgets. The annual excise duty payable on each off-licence was increased from â¬250 to â¬500. An off-licence for a shop selling only wine costs â¬500. An off-licence selling the full range of alcohol products require three licences - spirits, beer and wine. Consequently,...
- Written Answers — Tax Collection: Tax Collection (11 Oct 2011)
Michael Noonan: I am informed by the Revenue Commissioners that data on claims for tax relief for dental expenses are not captured in a such a way as to provide a dedicated basis for compiling estimates of cost to the Exchequer. Claims for this relief are aggregated in Revenue records with other health expenses claims. Accordingly, the specific information requested is not readily available and could not be...
- Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (11 Oct 2011)
Michael Noonan: The information to answer Parliamentary Question No. 146 of 4 October 2011 was acquired directly from the covered institutions and reflected the up-to-date position at each of the covered institutions. However, if we include all mortgage providers then the Central Bank of Ireland is the only comprehensive source of information on residential mortgage arrears, repossessions and restructures...
- Written Answers — Mortgage Arrears: Mortgage Arrears (11 Oct 2011)
Michael Noonan: The Central Bank has informed me that each quarter it publishes data from lenders on mortgage arrears greater than 90 days in relation to principal private residences. While details of loan accounts in arrears, including loans greater than 90 days in arrears and loans less than 90 days in arrears are reported to the Central Bank, it is data relating to arrears greater than 90 days that give a...
- Tax Reliefs (11 Oct 2011)
Michael Noonan: The patent royalty exemption provided a tax exemption for income received by an individual or company from a qualifying patent, subject to an annual limit of â¬5 million. It also provided a tax exemption for distributions paid by companies from exempt patent income. The patent royalty exemption was abolished in the Finance Act 2011 on foot of a recommendation from the Commission on...
- Tax Reliefs (11 Oct 2011)
Michael Noonan: The scheme was not abolished in an arbitrary fashion or by political or administrative decision but only after a full review by the Commission on Taxation. The commission's view was that while the relief provided additional windfall taxes to persons who registered patents, it did not act as an incentive for additional research and development, as was its objective in the first instance....
- Written Answers — Urban Renewal Schemes: Urban Renewal Schemes (6 Oct 2011)
Michael Noonan: A wide range of property-based tax relief schemes were introduced up to the mid 2000s. These included area-based tax incentives such as urban renewal, town renewal, rural renewal and the living over the shop schemes. While many important developments were encouraged by these schemes independent reviews concluded that the tax costs of the initiatives were high relative to the outputs...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (6 Oct 2011)
Michael Noonan: The following information excludes any burden sharing activities, in the form of Liability Management Exercises, conducted with subordinated bondholders. EBS, IL&P, AIB and Anglo Irish Bank had no dated subordinated bonds which matured or were repaid during the period of the CIFS Scheme 2008. Bank of Ireland had two subordinate bonds that matured during the period of the CIFS scheme. The...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (6 Oct 2011)
Michael Noonan: I assume that the Deputy is asking for the amount of unguaranteed senior bonds issued by the covered institutions. The Central Bank of Ireland has advised me that as of 18 February 2011, the total unguaranteed senior debt issued by the covered institutions was â¬36,452m of which â¬20,039m was unguaranteed senior secured and â¬16,413m was unguaranteed senior unsecured. This information...
- Written Answers — Pension Provisions: Pension Provisions (6 Oct 2011)
Michael Noonan: I have not had discussions with representatives of an airline superannuation scheme about the pension fund levy. The stamp duty levy of 0.6% applies to the market value, on the valuation date, of assets under management in pension funds and pension plans approved under Irish tax legislation. I am not in a position to comment on what the precise impact of the levy will be on individual funds,...
- Written Answers — Tax Code: Tax Code (6 Oct 2011)
Michael Noonan: I assume the Deputy is referring to a proposal to introduce tax relief for construction work completed on private homes. Tax relief on interest paid is already available for qualifying home loans. A qualifying home loan is a loan used for the purchase, repair, development or improvement of an individual's principal private residence. In addition, as part of the recent Jobs Initiative, the...
- Written Answers — National Asset Management Agency: National Asset Management Agency (6 Oct 2011)
Michael Noonan: NAMA informs me that the persons concerned are Mr. John Mulcahy, Head of Portfolio Management, and Mr. Michael Moriarty, Deputy Head of Portfolio Management. The agency also informs me that it is happy to provide information such as this to Deputies directly, either through the generic e-mail address, info@nama.ie, or the dedicated e-mail address OIR@nama.ie, to which communications may be...
- Written Answers — Tax Code: Tax Code (6 Oct 2011)
Michael Noonan: The Insurance (Amendment) Bill 2011 was signed into law on the 30 of September by the President. The Deputy should note that it is the Central Bank which is responsible for determining the commencement date of the 2% levy on insurance policies under Section 6 of the 1964 Insurance Act as amended by the Insurance (Amendment) Act 2011. I understand that the Bank will shortly publish a notice...
- Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (6 Oct 2011)
Michael Noonan: There are constitutional and legal difficulties to be addressed when considering whether to introduce retrospective legislation. In principle it is an area fraught with difficulty and not one to be pursued lightly. It is incumbent on any organisation where it has been alleged that expenses have been misappropriated to pursue the recovery of such funds by whatever means available taking all...
- Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (6 Oct 2011)
Michael Noonan: Following the merger of Anglo Irish Bank and Irish Nationwide Building Society, the bank wrote to Mr. Fingleton requesting repayment of a â¬1million bonus, received post the introduction of the Irish Government's Bank Guarantee Scheme, and the return of a watch given to him on retirement which was paid for by the Society. The bank has recently written again, following a response from Mr....