Results 23,941-23,960 of 27,019 for speaker:Michael Noonan

Written Answers — Expenditure Reviews: Expenditure Reviews (4 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 169 and 185 together. I presume the Deputies are referring to the third review of the EU / IMF Programme of Financial Support for Ireland which took place from 6th to 14th July 2011. I met with the EU-IMF delegation during the third quarterly review on 8th and 14th July 2011. These meetings were also attended by my colleague, the Minister for Public...

Written Answers — European Court of Auditors: European Court of Auditors (4 Oct 2011)

Michael Noonan: Ireland's nomination to the European Court of Auditors is under active consideration at present.

Written Answers — Tax Code: Tax Code (4 Oct 2011)

Michael Noonan: I am advised by Revenue that the company concerned has a significant tax debt. Revenue has worked with the company over the last 18 months to alleviate cash flow pressures that gave rise to tax payment delays. The company concerned has failed to put the payment of tax debts as they arise on a timely footing, despite being put on notice by Revenue of the importance of doing so. I am advised...

Written Answers — Banking Sector: Banking Sector (4 Oct 2011)

Michael Noonan: As I mentioned in my appearance before the Joint Committee on Finance, Public Expenditure and Reform on 1 September last, I am aware that contagion of the property collapse spread beyond the property and construction industries and into small businesses that took the decision to invest their profits in property. Notwithstanding the fact that some SMEs may have engaged in property speculation...

Written Answers — Tax Code: Tax Code (4 Oct 2011)

Michael Noonan: It has not proved possible to provide a detailed reply on this matter within the timeframe for answering Parliamentary Questions. Accordingly, the Deputy will be contacted directly on this issue at an early date.

Written Answers — Banking Sector Staff: Banking Sector Staff (4 Oct 2011)

Michael Noonan: I am informed by AIB that gross new external hires in 2010 were 471 and in 2011 to date are 769. These figures are in respect of the bank overall across all geographies. On a net basis (including terminations and departures) the number of employees at the bank declined by 492 in 2010 and has fallen by 205 in 2011 year to date. Additionally, AIB and officials from my Department have been...

Written Answers — An Post Savings Products: An Post Savings Products (4 Oct 2011)

Michael Noonan: All State Savings money is placed directly with the Irish Government and repayment of all State Savings money, which includes principal, interest and bonus payments if due (or, in respect of Prize Bonds, cash prizes), is a direct, unconditional obligation of the Government of Ireland. Ireland State Savings is the brand name used by the National Treasury Management Agency (NTMA) to describe...

Written Answers — Tax Code: Tax Code (4 Oct 2011)

Michael Noonan: The Programme for Government states that as part of the Government's fiscal strategy we will maintain the current rates of income tax together with bands and credits. However, the position is that all taxation measures will be considered in the context of the forthcoming Budget and Finance Bill. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer,...

Written Answers — Trust Funds: Trust Funds (4 Oct 2011)

Michael Noonan: I am informed by the Central Bank that it does not hold or require regulated firms to provide it with any information in respect of funds held in trust funds in this State. Section 46(15) Capital Acquisition Tax Consolidation Act provides that the Revenue Commissioners must be informed when property becomes subject to a discretionary trust. However, this information would only relate to a...

Written Answers — Tax Code: Tax Code (4 Oct 2011)

Michael Noonan: The Finance Act 2011 contains legislation that, subject to a Ministerial Commencement Order, provides for the extension of the 1% betting duty to remote bookmakers and a 15% gross profits tax on betting exchanges that offer their services to consumers within the State. The tax changes provided for in the Finance Act can only be implemented once the Betting (Amendment) Bill, which will provide...

Written Answers — Tax Code: Tax Code (4 Oct 2011)

Michael Noonan: A provision for allowing losses to be offset against profits or gains is common to a number of taxes, including Income Tax and Corporation Tax as well as Capital Gains Tax (CGT); and there is no time limit for carrying forwarded losses under any of these taxheads. A chargeable loss arises if a taxpayer disposes of an asset for less than the cost of acquisition – in other words, if the asset...

Written Answers — Tax Code: Tax Code (4 Oct 2011)

Michael Noonan: I assume the Deputy is referring to the imposition of a time limit on the carry forward of losses in circumstances where a business does not have sufficient profits against which to offset capital allowances. In computing the trading profits of a business for tax purposes, deductions are not generally available for capital expenditure, whether in respect of the cost of capital assets...

Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (4 Oct 2011)

Michael Noonan: I have been advised by the Revenue Commissioners that, if the person concerned is still in employment, he should contact his employer in relation to any possible tax rebate. If this person has ceased employment, he should submit a completed Form P50 with P45, parts 2 & 3 to the Revenue Commissioners and a review of his tax position will be undertaken. These forms should be submitted to the...

Written Answers — EU-IMF Programme: EU-IMF Programme (4 Oct 2011)

Michael Noonan: The Programme for Government represents the Government's agreed policy agenda. The policies set out in it are designed to facilitate economic growth, restore confidence, fix the banking system, bring order to our public finances, and support the creation of jobs. The Programme for Government explicitly states its support for the objectives of the EU-IMF programme. The EU-IMF Programme of...

Written Answers — Fiscal Policy: Fiscal Policy (4 Oct 2011)

Michael Noonan: The report to which the Deputy refers was published on 27 July this year by the Secretariat of the National Economic and Social Council. It was not published under the Council's name, and therefore the views expressed in it are those of the authors and do not represent the collective view of the Council. For this reason it was not subject to a Government decision prior to publication....

Written Answers — EU-IMF Programme: EU-IMF Programme (4 Oct 2011)

Michael Noonan: The report referred to is the International Monetary Fund's World Economic Outlook (WEO) published on 20 September 2011. The IMF considers that the recovery of the global economy has weakened considerably, and downside risks have increased sharply. The IMF forecasts world growth of about 4% in both 2011 and 2012 (revised down from 4.5% for both years in the April WEO forecast). However, they...

Written Answers — National Asset Management Agency: National Asset Management Agency (4 Oct 2011)

Michael Noonan: NAMA has a commercial remit and a statutory objective to generate a return for the taxpayer. However, within the context of its commercial remit and consistent with section 2 of the National Asset Management Agency Act 2009, NAMA is at all times open to considering proposals aimed at contributing to broader social and economic objectives. Thus NAMA is open to facilitating the work of public...

Written Answers — Tax Code: Tax Code (4 Oct 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the supply of personal protective equipment (PPE) clothing for children up to 10 years of age is liable to VAT at the zero rate in accordance with paragraph 10(1) of Schedule 2 of the Value-Added Tax Consolidation Act 2010. The supply of PPE clothing for children older than 10 years and adults is liable to VAT at the standard rate of 21% as...

Written Answers — Financial Services Regulation: Financial Services Regulation (4 Oct 2011)

Michael Noonan: The Deputy will appreciate that discussions in relation to the restructuring of Quinn Group debt are ongoing. We have been informed by the bank that details of the ongoing discussions with the senior creditors are commercially sensitive. Nonetheless, the bank has informed me that the proposed arrangements envisage the establishment of some new entities. The split, or tranching, of the debt...

Written Answers — Tax Code: Tax Code (4 Oct 2011)

Michael Noonan: The draft proposal for a Common Consolidated Corporate Tax Base (CCCTB) was published by the European Commission on 16 March this year. Since then, officials from my Department and the Office of the Revenue Commissioners have attended meetings on the subject matter of the CCCTB on five occasions. The first of those meetings was a meeting of the Council High Level Group on Taxation held on 28...