Results 24,421-24,440 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I am informed by the Revenue Commissioners that their obligation to observe confidentiality for taxpayers and small groups of taxpayers precludes them from providing the information requested. I would draw the Deputy's attention to paragraph (i) of Appendix 2 of the R&D tax credit guidelines that are accessible on the Revenue website outlining categories of activity that are not research and...

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

Michael Noonan: Holding companies of domestic groups do not generally have profits chargeable to corporation tax and thus imposing a 1% levy would not provide a yield for the Exchequer. I am presuming, therefore, that the Deputy is referring to holding companies with foreign subsidiaries. It is not possible to predict the effect such a levy would have on the behaviour and decisions of holding companies...

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

Michael Noonan: I am informed by the Revenue Commissioners that data is not available in a sufficiently detailed manner to provide a precise breakdown of the yields from the two rates of VAT as requested by the Deputy. However, it is tentatively estimated based on provisional macroeconomic data that in 2010, the standard VAT rate (21%) yielded around €6.5bn while the 13.5% reduced VAT rate yielded around...

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

Michael Noonan: VAT law in Ireland is applied in accordance with EU VAT law, under the EU VAT Directive. VAT is charged on the value added to the supply of goods and services by economic entities. The status of persons receiving those goods or services does not impact on whether or how VAT is charged on those items. In this circumstance, the VAT charged on a good supplied to a hospital will be based on...

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

Michael Noonan: I propose to take Questions Nos. 139 to 142, inclusive, together. As those claiming reliefs in relation to tax incentive schemes were not required to provide details of the hotels for which they were claiming benefits in their tax returns there is unfortunately no basis on which the information requested by the Deputy can be gained from Revenue records. Such information could only be...

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

Michael Noonan: The Department of Finance with the support of the Office of the Revenue Commissioners engaged in discussions with the Office of the Attorney General (AG) in relation to the many complex issues and attributes of the various "legacy" property-based tax schemes. The measures provided for in the Finance Act 2011 are in line with the advice received from the AG. We do not publish legal advice...

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

Michael Noonan: The following table sets out the details requested by the Deputy. All of the technical forecast figures in the table are taken from the Stability Programme Update (SPU) and will be subject to revision as the year progresses and more up-to-date economic and budgetary data becomes available and decisions with regard to the precise nature of the future budgetary consolidation to be implemented...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (19 Jul 2011)

Michael Noonan: I assume the Deputy is referring to a recent article in a Sunday newspaper. Payments of some €7 million have been approved as contractually due deferred bonus and retention overseas payments and payments to temporary contractors. The bank has undertaken that no further submissions to the Department of Finance will be made for payment of contractually deferred payments for 2012 and...

Written Answers — Fiscal Policy: Fiscal Policy (19 Jul 2011)

Michael Noonan: The EU-IMF Programme of Support for Ireland was agreed in late 2010 and runs to the end of 2013. There has not been an excess drawdown of funds under the Programme. The drawdown of funds to date under the Programme is in accordance with the disbursement schedule agreed by my Department and the NTMA with the European Commission and the IMF. Following the combined first and second review of...

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

Michael Noonan: I am informed by the Revenue Commissioners that, in general, the amount of VAT and other taxes collected from internet trading is not separately identifiable as businesses are obliged to calculate and return VAT and other taxes by reference to their entire taxable activities, which includes both traditional forms of business and internet sales. Internet business includes sales to private...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (19 Jul 2011)

Michael Noonan: I understand that the Deputy is referring to the repayments so far this year of unguaranteed unsecured senior bond holders in Anglo Irish Bank. I am advised by the bank that €1.06 billion of unsecured unguaranteed senior debt in Anglo Irish Bank has matured and been repaid so far this year. I have indicated to the House that, consistent with Government policy, I will raise the issue of...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (19 Jul 2011)

Michael Noonan: Though no capital injections have been made in respect of any of the covered institutions to date in 2011, it has already been announced as part of the PCAR 2011 results on 31 March that further recapitalisation measures will be required to enable the AIB/EBS, Bank of Ireland and IL&P to meet their regulatory capital requirements set by the Central Bank. The State has committed to completing...

Written Answers — Credit Rating Agencies: Credit Rating Agencies (19 Jul 2011)

Michael Noonan: As the Deputy may be aware, the EU Commission is working on proposals in relation to credit rating agencies. In this context, the Commission initiated a public consultation to elicit the views of the public and market participants at the end of 2010. The purpose of the public consultation was to open a wider debate and get input from investors, market participants, governments, regulators...

Written Answers — Revenue Commissioners Staff: Revenue Commissioners Staff (19 Jul 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the staffing details requested for Dublin Airport and Dublin Port, expressed as Full Time Equivalent numbers, are as set out in the following tables. Dublin Airport Principal Officer (PO) Assistant Principal Officer (AP) Higher ExecutiveOfficers / Administrative Officers (HEO/AO) ExecutiveOfficers (EO) Staff Officers (S) ClericalOfficers (CO)...

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

Michael Noonan: VAT is charged on the supply of goods and services, and the rate applying is subject to the requirements of EU VAT law with which Irish VAT law must comply. The provision of sporting facilities is among a number of tourist related services which was made subject to a new temporary lower reduced VAT rate of 9% from 1 July 2011. All other goods and services that had applied at the 13.5%, such...

Written Answers — Semi-State Bodies: Semi-State Bodies (19 Jul 2011)

Michael Noonan: I refer to my reply to the Deputy to Questions Nos. 39, 43 and 45, taken together, on 5 July 2011. The estimate of the net savings accruing to the Exchequer of less than €100 million p.a. arising from the imposition of a cap of €100,000 on public service salaries includes those employed in non-commercial State bodies, although it is not possible to provide a breakdown specifically in...

Seanad: Finance (No. 3) Bill: Committee and Remaining Stages (19 Jul 2011)

Michael Noonan: I do not accept there is a disparity between the treatment of children of civil partners and the children of married couples. Under law, people are obliged to look after their children, which includes providing financial support for them, regardless of whether the marriage is intact or has ended. That is why there is no tax incentive to pay maintenance to one's partner in respect of the...

Seanad: Finance (No. 3) Bill: Committee and Remaining Stages (19 Jul 2011)

Michael Noonan: Let it go forth from this Chamber that the purpose of this legislation is to provide equality of treatment under the law to persons who are in civil partnership and to their children. There is no tax relief for the payment of maintenance for children when marriages break down. There is tax relief in respect of incapacitated children, and that tax relief is being applied equally to the...

Seanad: Finance (No. 3) Bill: Committee and Remaining Stages (19 Jul 2011)

Michael Noonan: The Senator is lowering the debate by introducing a party political issue.

Seanad: Finance (No. 3) Bill: Committee and Remaining Stages (19 Jul 2011)

Michael Noonan: It is not an appropriate occasion.