Results 24,361-24,380 of 27,019 for speaker:Michael Noonan

Written Answers — Financial Services Sector: Financial Services Sector (20 Jul 2011)

Michael Noonan: I am advised by the Central Bank that it does not keep statistics on employee numbers in the banking and financial services under their regulation. However based on information from Central Statistics Office who keep data on the labour market including the financial sector, in 2009, 108,700 people were employed in 'financial, insurance and real estate activities', and in 2010, that number was...

Written Answers — Financial Services Regulation: Financial Services Regulation (20 Jul 2011)

Michael Noonan: I have been advised by the Central Bank that the information requested by the Deputy is not available. There is no legal requirement on licensed moneylenders to prepare or to submit audited accounts to the Central Bank. The end of the year accounting period for financial accounting purposes varies from moneylender to moneylender.

Written Answers — Financial Services Regulation: Financial Services Regulation (20 Jul 2011)

Michael Noonan: I have been advised by the Central Bank that the number of licensed moneylenders registered in each of the years was as follows: Year Number of Licensed Moneylenders 2008 53 2009 52 2010 46 2011 46 (as at 30 June 2011)

Written Answers — Financial Services Regulation: Financial Services Regulation (20 Jul 2011)

Michael Noonan: I have been advised by the Central Bank that the amount of levies paid to the Bank by moneylenders in the years 2008 to 2010 inclusive is as follows:

Written Answers — Financial Services Regulation: Financial Services Regulation (20 Jul 2011)

Michael Noonan: Year Levy amount collected 2008 €162,000 2009 €244,000 2010 €257,000 The information for 2011 is not yet available.

Written Answers — Financial Services Regulation: Financial Services Regulation (20 Jul 2011)

Michael Noonan: I wish to inform the Deputy that persons operating as illegal moneylenders are in breach of the law. It is a matter for An Garda Síochána to investigate their activities. Under Section 98 of the Consumer Credit Act 1995 (as amended), An Garda Síochána have sole responsibility for the investigation and prosecution of such offences. The Central Bank has no powers in this regard. If the...

Written Answers — Proposed Legislation: Proposed Legislation (20 Jul 2011)

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 — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the possibility of an arrangement of the kind referred to by the Deputy has been examined in the context of substituting marked diesel with a general excise repayment scheme for qualifying consumers across all sectors. It was considered, however, that it would impose significant cashflow and administrative costs on businesses and consumers, pose...

Written Answers — Pension Provisions: Pension Provisions (19 Jul 2011)

Michael Noonan: 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 cannot say what the precise impact of the levy will be on individual funds, schemes or members as this depends on whether and to what extent pension fund trustees and Life Offices decide to pass on the levy to...

Written Answers — Pension Provisions: Pension Provisions (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that Approved Minimum Retirement Funds (AMRFs) are part of the Approved Retirement Fund (ARF) regime introduced in 1999. The ARF regime gives a considerable degree of control, flexibility and personal choice to certain categories of individuals in relation to the drawing down of benefits from their pension plans. Access to the ARF regime was extended...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: Wood chips for domestic fuels are liable to VAT at the rate of 13.5%, as is the case with the supply of all fuel products used for home heating or light. No further tax is payable on the product. In addition, the supply and installation of wood pellet burners also apply for the most part at the 13.5% rate. In order for the reduced rate to apply the VAT-exclusive cost of the burner must not...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: The tax code currently provides for various reliefs - from Capital Gains Tax, Capital Acquisitions Tax and Stamp Duty - on capital transfers within families. Capital Gains Tax (CGT): Transfers of assets between spouses do not give rise to a chargeable gain for CGT purposes. Instead the asset is treated in the hands of the receiving spouse as having the cost and acquisition date of the spouse...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that based on personal income tax returns filed by non-PAYE taxpayers for the year 2008, the latest year for which this information is available, the amount of tax foregone by allowing a deduction for interest on borrowings to be offset against rental income assessable under Case V, Schedule D is estimated to have been of the order of €1,150...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that as the rental income of companies is returned as net of interest on borrowings the figures for interest are not separately distinguished in corporate tax returns. There is, therefore, no basis on which an estimate of the cost of tax relief involved could be provided.

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information available on the cost to the Exchequer of all property related tax schemes is based on personal income tax returns filed by non-PAYE taxpayers and corporation tax returns filed by companies for the year 2009, the latest year for which this information is available. These are set out in the table below. Scheme 2009...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 75 to 77, inclusive, and 90 together. I am informed by the Revenue Commissioners that on the basis of Form 11 tax returns for 2009 the amount of Schedule D Case V losses brought forward by individual taxpayers is €2.1 billion. Based on CT1 tax returns filed by companies for 2009 the corresponding amount of Schedule D Case V losses brought forward by...

Written Answers — Tax Yield: Tax Yield (19 Jul 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the information available in respect of numbers of persons who paid Capital Acquisitions Tax is as follows: Year Number 2006 11,058 2007 12,320 2008 12,963 2009 11,910 A breakdown for 2009 by Group Threshold A, B and C of numbers who paid Capital Acquisitions Tax is as follows: Group Threshold – relationship to Disponor Number A -...

Written Answers — Tax Yield: Tax Yield (19 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 79 to 81, inclusive, together. I am advised by the Revenue Commissioners that the relevant information on the cost of tax foregone in respect of group thresholds for Capital Acquisition Tax (CAT) is only available for the year 2009. The estimated tax foregone in that year for group threshold A is €134m, group threshold B €79m and group threshold C €17m....

Written Answers — Tax Yield: Tax Yield (19 Jul 2011)

Michael Noonan: I am advised by the Revenue Commissioners that estimates of the cost to the Exchequer of Capital Acquisitions Tax (CAT) forgone arising from reliefs for dwelling houses, heritage property, retirement benefits and charities are as shown in the following table to the extent that they are available: Exemption Year Cost €m Dwelling house 2008 43 2009 36 Heritage Property 2003 to 2008 1...

Written Answers — Tax Yield: Tax Yield (19 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 83, 84, 127 and 128 together. These four questions all relate in one way or another to Approved Retirement Funds or ARFs. There is no requirement on qualifying fund managers who hold ARFs on behalf of the individuals entitled to the assets in those funds to provide data to my Department or to the Revenue Commissioners in relation to the value of assets in...