Results 4,501-4,520 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Exemptions (6 Apr 2016)

Michael Noonan: I propose to take Questions Nos. 138 and 139 together. I am informed by the Revenue Commissioners that the estimated first and full year costs to the Exchequer of exempting income up to €19,752 from Universal Social Charge (USC) are in the order €501 million and €684 million respectively. This estimate envisages that for cases with incomes in excess of this...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (6 Apr 2016)

Michael Noonan: I am advised by the Revenue Commissioners that the claim from the person concerned has been processed and he will receive the VAT repayment shortly.

Written Answers — Department of Finance: VAT Rate Reductions (6 Apr 2016)

Michael Noonan: I am advised by the Revenue Commissioners that the information furnished on VAT returns does not require the yield from particular activities or products to be identified, and therefore it is difficult to estimate the VAT yield for the sector mentioned by the Deputy. However, based on information extrapolated from various data sources, it is estimated that reducing the VAT rate to 9% on new...

Written Answers — Department of Finance: Tax Code (6 Apr 2016)

Michael Noonan: I am advised by the Revenue Commissioners that a taxpayer's obligation to prepare and submit a tax return is dependent on his or her circumstances. In general, taxpayers who are "chargeable persons" under the self-assessment system (for example, individuals who carry on a trade, or have non-PAYE income such as investment income, or who are proprietary directors) are required, regardless of...

Written Answers — Department of Finance: Tax Code (6 Apr 2016)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. CAT is charged at 33% to the beneficiary on amounts received by gift or inheritance, beyond certain lifetime tax-free amounts determined by the relationship between the beneficiary and the person...

Written Answers — Department of Finance: Special Savings Incentive Scheme (6 Apr 2016)

Michael Noonan: As the Deputy will be aware, it is standard practice for the Minister for Finance to review all tax charges, expenditures and reliefs in the run up to annual Budgets. It is also a longstanding practice of the Minister for Finance not to comment on any tax matters that may or may not be the subject of Budget decisions.

Written Answers — Department of Finance: Credit Union Regulation (6 Apr 2016)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit...

Written Answers — Department of Finance: Inniúlacht sa Ghaeilge sa Státseirbhís (6 Apr 2016)

Michael Noonan: Is é líon iomlán na foirne atá fostaithe ar fhoireann na Roinne ar an 31ú lá Márta ná 280. Tá líon breise, 12 daoine ar iasacht ag an Roinn ó Ranna agus áisíneachtáí Stáit eile. Níl aon phost sa Roinn daingnithe mar phost a bhfuil riachtanas Gaeilge ag baint leis, agus tá roinnt ball foirne a...

Written Answers — Department of Finance: Inniúlacht sa Ghaeilge sa Státseirbhís (6 Apr 2016)

Michael Noonan: Níl sé mar dhualgas oifigiúil ar aon bhall foirne áirithe de chuid na Roinne seirbhís trí Ghaeilge a sholáthar trí Ghaeilge d'aon duine a lorgaíonn í. Tá panéil deonach d'fhoireann na Roinne a bhfuil ar a gcumas seirbhís a sholáthar trí Ghaeilge ar fail sa chás go n-iarrtar í. Tacaíonn an Roinn le...

Written Answers — Department of Finance: Motor Insurance Regulation (6 Apr 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  I am aware of reports on the increasing cost of motor insurance. However, the ability of the Government to influence insurance pricing is limited as insurance companies are required under European law to price in accordance with risk and neither I, nor the Central Bank...

Written Answers — Department of Finance: Tax Code (6 Apr 2016)

Michael Noonan: The details supplied include a suggestion that a lower rate of capital gains tax (CGT) be charged "on the first two million", although it is not clear whether this refers to €2 million in gains or total consideration, or whether the amount is viewed as a lifetime limit or applying annually. I do not have any plans currently to introduce such a measure. The details of CGT, including...

Written Answers — Department of Finance: Mortgage Lending (6 Apr 2016)

Michael Noonan: The Central Bank have informed me that no rules exist relating to the purposes for which mortgage holders can seek to re-mortgage their principal private residence. However, the decision to grant or refuse credit is a commercial decision on the part of a regulated entity and the terms of the individual loan contract entered into by the borrower and lender may specify, as a contractual...

Written Answers — Department of Finance: Defined Benefit Pension Schemes (6 Apr 2016)

Michael Noonan: Approved retirement funds (ARFs) were introduced in Finance Act 1999 to provide control, flexibility and choice to holders of personal pensions and to proprietary director members of occupational pension schemes in relation to the drawing down of benefits from their pension arrangements. Prior to that Act, any person taking a pension from a Defined Contribution (DC) scheme or a Retirement...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (6 Apr 2016)

Michael Noonan: I am advised by Revenue that the car concerned does not qualify for relief from VAT and VRT and the person concerned was advised of this by Revenue on 30thMarch 2016.

Written Answers — Department of Finance: Mortgage Lending (6 Apr 2016)

Michael Noonan: It is not possible to answer this question comprehensively for all mortgages as, by their very nature, mortgages are complex and can extend over a number of different loans for one particular borrower. Firstly, any moves by lenders to remove tracker rate mortgages from borrowers can only be carried out in accordance with the underlying terms and conditions of the loans and the relevant...

Written Answers — Department of Finance: Ministerial Meetings (6 Apr 2016)

Michael Noonan: I have met with officials from the company concerned on a small number of occasions over the past 12 months. The issues discussed included the following: - The employment opportunities being created in Ireland; - The very high quality of candidates applying for jobs with the company; and - The company's future plans in Ireland. The matters referred to in the details supplied were...

Written Answers — Department of Finance: VAT Exemptions (6 Apr 2016)

Michael Noonan: I am advised by the Revenue Commissioners that the VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. EU VAT exemptions are set out in Articles 132 and 135 of the EU VAT Directive (2006/112/EC) and do not cater for the supply of motorcycling helmets.  Under the Directive, Ireland can also maintain the zero rating on...

Written Answers — Department of Finance: Mortgage Interest Rates (6 Apr 2016)

Michael Noonan: As the Deputy will be aware, I have taken steps to ensure that the banks provide options for mortgage holders to reduce their monthly repayments. Last May, I requested a report from the Central Bank on the topic which was subsequently published. I also met with the six main mortgage lenders in May and outlined my view that the standard variable rate being charged to Irish...

Written Answers — Department of Finance: Motor Insurance (6 Apr 2016)

Michael Noonan: I propose to take Questions Nos. 158 and 159 together. My Department has embarked on a review of policy in the insurance sector in consultation with the Central Bank of Ireland and other Departments and Agencies.  The objective of the Review is to recommend measures to improve the functioning of the insurance sector. The Review will include an examination of the factors...

Written Answers — Department of Finance: Mortgage Lending (6 Apr 2016)

Michael Noonan: As the Deputy will be aware, the Central Bank's macro prudential limits on mortgage lending came into effect on 9th February 2015. The policy sets restrictions on the loan-to-value (LTV) and Loan-to-Income (LTI) ratios on products that can be offered by mortgage providers. There are a number of exemptions allowed for within the CBI guidelines, for example mortgage switchers or forbearance...