Results 4,661-4,680 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (27 Jan 2016)

Michael Noonan: The system of individualisation has been in the tax code since 1999. It is my view that individualisation has now bedded into the tax system to a degree where it cannot be changed easily. It was estimated last year that to complete or to reverse individualisation would cost in the region of €800 million. The issue of tax individualisation was considered by the Commission on...

Topical Issue Debate: Property Tax Rate (26 Jan 2016)

Michael Noonan: I thank Deputy Ellis for raising this issue. The introduction of the LPT formed part of a broader approach to the taxation of property that aims to replace some of the revenues from transaction-based taxes, which proved to be an unstable source of Government revenue, with an annual recurring property tax, which international experience had shown to be a stable source of funding. Stability...

Topical Issue Debate: Property Tax Rate (26 Jan 2016)

Michael Noonan: I will give the Deputy further information. Revenue incorrectly replied to a small number of property owners in the Longboat Quay complex confirming that a reduction in valuation was possible. This was an error and the letter should not have been issued. Revenue only realised the error when further letters were received from a large number of residents of the complex seeking similar...

Written Answers — Department of Finance: VAT Exemptions (26 Jan 2016)

Michael Noonan: I am advised by the Revenue Commissioners that the promotion of, and admission to, a live theatrical or musical event is exempt from VAT if facilities for the consumption of food and drink are not available during the performance.  Where facilities for the consumption of food and drink are available during the performance the second reduced rate of 9% applies.  Where a live...

Written Answers — Department of Finance: Pensions Levy (26 Jan 2016)

Michael Noonan: I announced in my Budget 2014 speech that the original 0.6% stamp duty levy on private pension funds introduced in 2011 to fund the Jobs Initiative would be abolished after 2014 and that levy no longer applies. I did, however introduce an additional levy on pension funds at 0.15% for 2014 and 2015. I did this to, among other things, continue to help fund the Jobs Initiative. I confirmed in my...

Written Answers — Department of Finance: Primary Medical Certificates Applications (26 Jan 2016)

Michael Noonan: I am advised by the Revenue Commissioners that no application has been received under the Drivers & Passengers with Disabilities Scheme from the person concerned. The person concerned should make contact with Revenue's Central Repayments Office, who will provide whatever information or assistance may be provided in respect of the query of the person concerned....

Written Answers — Department of Finance: Tax Reliefs Cost (26 Jan 2016)

Michael Noonan: The Travel Pass/Taxsaver scheme operates on the basis that an employer pays for the ticket on behalf of an employee, typically at the start of the year, and the payment is then deducted from the employee's emoluments over the course of the year. The incentive operates on the basis that, although such a payment out of an employee's income should be made out of after-tax income, section 118B...

Written Answers — Department of Finance: Tax Code (26 Jan 2016)

Michael Noonan: I propose to take Questions Nos. 129 and 130 together. I am advised by the Revenue Commissioners that the legal basis for the imposition of Vehicle Registration Tax (VRT) is Part II, Chapter IV of the Finance Act, 1992. The legal basis sets out that a person may not have an unregistered vehicle in his possession (unless he is an authorised motor dealer). The emphasis in the...

Written Answers — Department of Finance: Fiscal Policy (26 Jan 2016)

Michael Noonan: Under the Stability and Growth Pact (SGP), Ireland is obliged to be at or make rapid progress towards its Medium Term Objective (MTO) of a balanced budget in structural terms. This obligation also stems from the Fiscal Compact, to which Ireland acceded following the referendum in 2012, and has also been enshrined in domestic legislation through the Fiscal Responsibility Act 2012. As Ireland...

Written Answers — Department of Finance: Departmental Correspondence (26 Jan 2016)

Michael Noonan: A reply to the correspondence in question is in hand and I expect that it will be issued very shortly.

Written Answers — Department of Finance: Pensions Levy (26 Jan 2016)

Michael Noonan: It is not the case, as suggested in the details supplied, that any part of the stamp duty levies on private pension funds will be due for payment in 2016. The payment date for the final part of the final 0.15% levy was the 25thof September 2015. In the details supplied it is suggested that the State should return money collected through the levies "in line with the return of money to retired...

Written Answers — Department of Finance: Government Expenditure (26 Jan 2016)

Michael Noonan: Further to the reply provided to parliamentary question 208 of the 17th of November 2015 I can confirm that the information contained within this response, which can be found in Tables A8 and A9 on pages C.50 and C.51 of the Budget 2016 book, is still accurate and the figures have not been re-calculated by my Department. However as explained in parliamentary question 208 of the 17th of...

Written Answers — Department of Finance: IBRC Liquidation (26 Jan 2016)

Michael Noonan: Slide 61 of the Special Liquidators Progress Update Report dated 12 March 2015 (which is available on the Department of Finance website at ) details the costs of the liquidation for the period 7 February 2013 to 31 December 2014. Total fees of €76m were paid to KPMG (KPMG Special Liquidator team: €71.4m and KPMG migration team: €4.6m) to 31 December 2014 of which...

Written Answers — Department of Finance: Public Relations Contracts Data (26 Jan 2016)

Michael Noonan: The National Treasury Management Agency (NTMA) have advised me that the overall amount paid for PR services by the NTMA and all of its associated business areas in 2015 (ex VAT) was €177,959 (of which €79,750 was charged to NAMA). The NTMA's communications team is supported by an external service provider, Gordon MRM, (appointed following a public procurement process)....

Written Answers — Department of Finance: Tax Reliefs Application (26 Jan 2016)

Michael Noonan: I am advised by the Revenue Commissioners that while an on-line application is a quicker, easier and more secure way of making a claim for tax relief, a paper application from the person concerned will be processed if it is sent to Revenue. The correspondence dated 10 December 2015 was an information letter to advise individuals that they could avail of an online facility to make...

Written Answers — Department of Finance: Banking Sector Investigations (26 Jan 2016)

Michael Noonan: The Department deployed significant resources in order to meet its obligations arising from the Banking Inquiry. The Department received 2 Directions covering 74 separate categories of records. Over a hundred thousand records were searched and almost 8,000 records were provided to the Inquiry. The record referred to by the Deputy was identified as part of this search process, however,...

Written Answers — Department of Finance: Tax Code (26 Jan 2016)

Michael Noonan: I am advised by the Revenue Commissioners that section 114 of the Taxes Consolidation Act 1997 provides for a tax deduction in respect of travel expenses necessarily  incurred in the performance of the duties of an office or employment. Subject to certain exceptions explicitly provided for in legislation, expenses incurred in travelling to or from work do not qualify for a tax deduction...

Written Answers — Department of Finance: Property Tax (26 Jan 2016)

Michael Noonan: The Government decided a universal liability to the Local Property Tax (LPT) should apply to all owners of residential property. Limiting the exemptions available allows the rate to be kept low for those liable persons who do not qualify for an exemption. The current central rates, of 0.18% on values up to €1 million, where LPT applies at the midpoint of a valuation band, and 0.25%...

Written Answers — Department of Finance: Pension Provisions (26 Jan 2016)

Michael Noonan: A pension scheme is generally regarded as a Small Self Administered Scheme (SSAPS) where it has less than 12 members and its fund is not fully administered and insured by a life office. Irrespective of the number of members involved, a scheme will also be regarded as small at any time when 65% or more of the value of the investments of the scheme relate to the provision of benefits for "20%...

Written Answers — Department of Finance: Credit Review Office Remit (26 Jan 2016)

Michael Noonan: I am informed by Permanent TSB (PTSB) that it formally launched its lending products for SMEs on 21 December 2015, having completed recruitment, training, development and pilot work over the period since the Minister's announcement on 14th October 2014. PTSB is working with the Credit Review Office (CRO) to put in place systems necessary to participate in the CRO appeals...