Results 4,301-4,320 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Tax (17 May 2016)

Michael Noonan: I am advised by Revenue that there are currently in excess of 29,000 properties availing of the deferral option in respect of Local Property Tax (LPT), as provided for by Part 12 of the Finance (Local Property Tax) Act 2012 (as amended). The deferrals, which attract an interest charge of 4% per annum, will for the majority of cases remain in place for the duration of the current valuation...

Written Answers — Department of Finance: Central Bank of Ireland (17 May 2016)

Michael Noonan: The Central Bank publishes details about its total investment asset holdings in its annual report, which is available on its website. However, the Bank has informed me that it does not publish a breakdown of assets by jurisdiction, nor specify the jurisdiction of assets which it acquired or disposed during the year.

Written Answers — Department of Finance: Tax Relief Data (17 May 2016)

Michael Noonan: I propose to take Questions Nos. 215 and 217 together. I am advised by the Revenue Commissioners that a Costs of Tax Expenditures Table is available on the Revenue Statistics webpage at . This table displays the estimated cost, in terms of revenue foregone, as well as the numbers who availed of the main tax credits and reliefs, including tax relief on medical insurance premiums. The table...

Written Answers — Department of Finance: Tax Data (17 May 2016)

Michael Noonan: The introduction of a health levy on sugar-sweetened drinks has been included in the Programme for a Partnership Government. This levy will be one of a number of key public health interventions that this Government will make, as well as serving to provide additional revenue to the Exchequer. While the details of the proposed levy, including structure, rate and application, have not been...

Written Answers — Department of Finance: Tax Relief Costs (17 May 2016)

Michael Noonan: The current annual limit for Rent A Room relief, as provided for in Budget 2015, is €12,000. I assume the Deputy is enquiring as to how much it would cost to increase this limit to €13,750. On that basis, I am advised by the Revenue Commissioners that it is tentatively estimated that the cost of such an increase would be approximately €0.4 million.

Written Answers — Department of Finance: Employment Rights (17 May 2016)

Michael Noonan: I am advised by the Revenue Commissioners that, by way of practice, employers may, without the deduction of tax, reimburse employees the expense of travel and subsistence wholly, exclusively and necessarily incurred in the performance of the duties of their employment. In that respect, there are two rate-related schemes by which such expenses may be reimbursed by the employer.  The...

Written Answers — Department of Finance: VAT Rate Reductions (17 May 2016)

Michael Noonan: I am advised by the Revenue Commissioners that information on estimated costs of changes to all of the VAT rates can be found in the post-Budget 2016 Ready Reckoner on the Revenue Statistics webpage: . The Revenue Ready Reckoner estimates the full year cost of reducing the 23% VAT rate by 1% to be €318 million. Further decreases can be estimated on a straight line basis, thus the...

Written Answers — Department of Finance: Banking Sector (17 May 2016)

Michael Noonan: As the Deputy is aware, as Minister I have no direct function in the relationship between banks and their customers, nor any involvement in the day-to-day running of the banks. Notwithstanding the fact that the State is a shareholder in some of the institutions operating in the State, I must ensure that the banks are run on a commercial, cost effective and independent basis to...

Written Answers — Department of Finance: Revenue Commissioners (17 May 2016)

Michael Noonan: I am advised by Revenue that the details provided for the person concerned do not facilitate verification of the precise circumstances of this case. Revenue has advised me that arrangements will be made to contact the person concerned directly to clarify and hopefully resolve matters fully.

Written Answers — Department of Finance: Mortgage Arrears Proposals (17 May 2016)

Michael Noonan: This Government is very committed to dealing with mortgage arrears and providing support for borrowers that find themselves in that situation. This commitment is evidenced by the range of commitments contained in the Programme for A Partnership Government which will provide renewed impetus for dealing with the issue particularly for those borrowers in longterm arrears.  ...

Written Answers — Department of Finance: One-Parent Family Payment (17 May 2016)

Michael Noonan: As the Deputy will be aware, the One-Parent Family Tax Credit (OPFTC) was replaced with a new Single Person Child Carer Credit (SPCCC) from 1 January 2014. I recall that during the course of the debate on Report Stage of Finance Bill 2014, the Deputy tabled an amendment proposing to extend the transferability of all or part of the Single Person Child Carer Credit (SPCCC) to the...

Written Answers — Department of Finance: Credit Union Restructuring (17 May 2016)

Michael Noonan: On 1 January 2013 the Credit Union Restructuring Board ("ReBo"), was established on a statutory basis. ReBo was established to facilitate and oversee the restructuring of credit unions on a voluntary, incentivised and time-bound basis. The objectives of the restructuring process are to underpin the stability and long-term viability of credit unions and the sector at large and to...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Capital (17 May 2016)

Michael Noonan: The most recently published value of the ISIF's Discretionary Portfolio is €7.9 billion as at 31 December 2015. This includes cash and short term investments of €3.6 billion. To date, the Fund has committed €2.2 billion across a wide range of sectors in the Irish economy in line with ISIF's double bottom line mandate to invest on a commercial basis in a way that...

Written Answers — Department of Finance: IBRC Liquidation (17 May 2016)

Michael Noonan: A third progress update report on the Special Liquidation of IBRC will be issued in the coming weeks providing a comprehensive review of the progress to date and the current status of the Special Liquidation. This report will be available on the Department of Finance website once it has been finalised. While it is too early at this stage to advise on the likely timeframe for...

Written Answers — Department of Finance: Corporation Tax Regime (17 May 2016)

Michael Noonan: In June 2014, the Competition Directorate of the European Commission announced its intention to open formal state aid investigations into tax rulings provided to a number of companies in various Member States of the European Union. This announcement is part of a much wider review of tax ruling practice that is currently being undertaken by the European Commission covering all 28 Member...

Written Answers — Department of Finance: Mortgage Applications Approvals (17 May 2016)

Michael Noonan: Recent data published by Banking and Payments Federation Ireland indicates that, in the three month period ending March 2016, the average number of mortgage approvals declined by 13.7% on a year on year basis.  (For first time borrowers, the year on year decline was a little greater at 15%).  In terms of the value of mortgage approvals, the year on year decline was 14%. ...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (17 May 2016)

Michael Noonan: I presume that the Deputy is referring to Activate Capital, a €500m non-bank financing platform established by ISIF and investment group KKR to invest on a commercial basis in residential development projects in Ireland. Activate has been operationally up and running since January 2016 and in that time has created a significant pipeline of investments. Activate recently...

Written Answers — Department of Finance: Motor Insurance Regulation (17 May 2016)

Michael Noonan: The Minister for Transport, Tourism and Sport and I have asked our officials to carry out a review of the framework for motor insurance compensation in Ireland. The objective of the Review is to identify the features of a motor insurance compensation framework for Ireland that is comprehensive, effective, affordable and consumer-focused. The Review will make...

Written Answers — Department of Finance: Property Tax Administration (17 May 2016)

Michael Noonan: In his report on his review of the Local Property Tax which was published on Budget Day 2015 Dr Thornhill makes a number of recommendations. His central recommendation is for a revised system whereby a minimum level of LPT revenues in each local authority area would be determined by Government, ideally having regard to the apportionment between local authority areas of the historic yield....

Written Answers — Department of Finance: Tax Collection (17 May 2016)

Michael Noonan: I am advised by the Revenue Commissioners that the overwhelming majority of taxpayers file and pay their taxes and duties on time. This is evidenced by the fact, for example, that in 2015 timely payment and return compliance ranged from 85% for the smallest cases to 98% for the largest cases. Timely compliance for Local Property Tax was 97%. I know that Revenue has a strong focus on...