Results 25,201-25,220 of 27,019 for speaker:Michael Noonan

Written Answers — Banking Sector Regulation: Banking Sector Regulation (24 May 2011)

Michael Noonan: The Central Bank's Consumer Protection Code (the Code) is applicable to all entities which the Central Bank regulates (regulated entities). These entities include State supported banks and financial institutions. The Code requires, among other things, that a regulated entity must ensure that in all its dealings with customers and within the context of its authorisation it acts:- ·...

Written Answers — Tax Code: Tax Code (24 May 2011)

Michael Noonan: The amount on which VAT is chargeable, in accordance with section 37(1) of the Value-Added Tax Consolidation Act 2010, is the total consideration receivable by the supplier, "including all taxes, commissions, costs and charges whatsoever" but not including the VAT itself. VAT is governed by the EU VAT Directive, to which Irish VAT law must comply. Article 78 of the VAT Directive provides...

Written Answers — Banking Sector: Banking Sector (24 May 2011)

Michael Noonan: I have paid no fees to IBEC in respect of Anglo Irish Bank. As the Deputy is aware, the day to day running of the bank is a matter for the Board of Anglo Irish Bank. This includes matters in respect of representation and training requirements for its staff. Prior to and after nationalisation, the membership of and fees paid to IBEC, to which the Deputy refers, are a matter for the board of...

Written Answers — Tax Code: Tax Code (24 May 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the total identifiable costs to the Exchequer of all income tax and corporation tax allowances, reliefs, exemptions and tax credits available are set out in the following tables for 2007 and 2008, the most recent year for which the necessary detailed historical information is available. Relevant notes relating to items in the tables are also...

Finance (No. 2) Bill 2011: Order for Second Stage (24 May 2011)

Michael Noonan: I move: "That Second Stage be taken now."

Finance (No. 2) Bill 2011: Second Stage (24 May 2011)

Michael Noonan: I move: "That the Bill be now read a Second Time." The purpose of the Finance (No. 2) Bill is to introduce the necessary changes to taxation legislation which give effect to measures I announced on 10 May as part of the jobs initiative. There is now a broad consensus that the economy will return to growth this year. The Department of Finance published revised economic forecasts the week...

Finance (No. 2) Bill 2011: Second Stage (24 May 2011)

Michael Noonan: The Government's top priority is to safeguard the security of savings. It would not wish to consider any step that would have a negative impact on such confidence. Other savings or investment products have not benefited from the generous tax reliefs that pension savings have historically been granted and continue to receive. Deposit accounts and savings products have already been subjected...

Finance (No. 2) Bill 2011: Second Stage (24 May 2011)

Michael Noonan: The Deputy has been too long in Fianna Fáil.

Finance (No. 2) Bill 2011: Second Stage (24 May 2011)

Michael Noonan: The Deputy has been dealing with tricky people his entire life.

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

Michael Noonan: The details supplied with the Deputy's question concern various differences between the retirement benefits payable under Defined Benefit pension scheme arrangements in the private sector and the public sector. I cannot comment on the specific examples given in the details. I would point out, in the first instance, that the maximum benefits payable under an occupational pension scheme to an...

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

Michael Noonan: I assume the Deputy is referring to the temporary 0.6% stamp duty levy on pension scheme assets which I announced in this House last week as part of the Jobs Initiative. If the individual's private pension is paid from an occupational pension scheme by way of an annuity i.e. a stream of income purchased by the trustees of a pension scheme in the name of the individual from a life company at...

Written Answers — Tax Reliefs: Tax Reliefs (19 May 2011)

Michael Noonan: The following tables provide a breakdown of the estimated cost of tax and PRSI reliefs relating to private pension contributions for 2006, 2007 and 2008, the latest year for which the most up-to-date data is available together with estimates of the notional or imputed cost of the tax exemption for the investment income and gains of approved superannuation funds. Corresponding estimates of...

Written Answers — Tax Collection: Tax Collection (19 May 2011)

Michael Noonan: I have been advised by the Revenue Commissioners that the last return of income submitted was for the year 2005 and the last VAT return submitted was for the period November/December 2006. The person concerned should submit all outstanding returns in order for his tax affairs to be up to date. In this respect he may contact Ms Bernie Brophy, Kildare Revenue District, The Plaza, Tallaght,...

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

Michael Noonan: I have been advised by the Revenue Commissioners that the tax refund in question was reduced following a Revenue audit when deductions incorrectly claimed were identified and withdrawn. Statistics on other similar cases are not readily available. However, inevitably where Revenue detects incorrect claims for deductions, it will seek to recover the tax loss through collection or restriction...

Written Answers — Tax Code: Tax Code (18 May 2011)

Michael Noonan: I recognise that the price of fuel has increased in recent times. The increase in the price of fuel is an international phenomenon. Fuel prices are driven by a number of factors including the price of oil on international markets, exchange rates, production costs and refining costs. The rise in oil prices over recent periods reflected additional factors such as geopolitical uncertainty in...

Written Answers — Tax Code: Tax Code (18 May 2011)

Michael Noonan: As I announced in my Jobs Initiative statement on 10 May 2011, I will be providing in the forthcoming Finance Bill for the Air Travel Tax to be suspended on or after such a day that I may appoint by Ministerial Commencement Order. To be clear, the commencement of this measure is subject to an agreement being reached with the airlines to bring in additional passenger numbers. My colleague, the...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (18 May 2011)

Michael Noonan: The Financial Emergency Measures in the Public Interest (No. 2) Act, 2009 effected reductions in the remuneration of public servants with effect from 1 January 2010. Staff of the financial institutions referred to in the question do not meet the legal definition of public servant set out in this legislation and accordingly the provisions of the Act do not apply to the staff concerned. In...

Written Answers — EU Surveys: EU Surveys (18 May 2011)

Michael Noonan: The European Economic Sentiment Indicator (or ESI) is generated through the amalgamation of the findings of a series of business and consumer sentiment surveys carried out in Member States. It is the European Commission, and not the Member States that is responsible for ensuring that these surveys are carried out. It is my understanding that up to 2007 the component surveys were carried out...

Written Answers — Public Service Pay: Public Service Pay (18 May 2011)

Michael Noonan: Increments within the Public Service vary in terms of timing, cost and application both within and across the various sectors of the Public Service and estimates of cost are of necessity, tentative. It has been estimated that the annual cost in a full year of increments would be around €250 million. However, significantly reduced recruitment and higher numbers on the maxima of scales will...

Written Answers — Programme for National Recovery: Programme for National Recovery (18 May 2011)

Michael Noonan: The Government Programme for National Recovery 2011 - 2016 provides that the Government will establish a new model of financing social interventions - called Social Impact Bonds - that focus on outcomes for particular target groups, and attract private capital to support social provision. The Government will consider how best to establish this new and innovative mechanism and will bring...