Results 5,021-5,040 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Collection (3 Dec 2015)

Michael Noonan: I propose to take Questions Nos. 102, 103 and 105 together. I am informed by Revenue Commissioners that Deposit Interest Retention Tax (DIRT) on interest bearing deposits is declared and paid on a four-times yearly basis by financial institutions: in April, July and October of the tax year in question, and in the following January. Returns for each year are due by 15 January of the...

Written Answers — Department of Finance: Tax Yield (3 Dec 2015)

Michael Noonan: I am advised that at present there is no change to the estimate as set out in Budget 2015 in relation to the impact on receipts from changes to how VAT is applied for Cross-border EU telecommunications broadcasting and electronically supplied services. On 1 January 2015, new EU VAT rules came into effect changing the place where VAT is chargeable in respect of all supplies of...

Written Answers — Department of Finance: Mortgage Interest Rates (3 Dec 2015)

Michael Noonan: As I have outlined previously, permanent tsb ("PTSB") is currently subject to an Enforcement Investigation by the Central Bank in relation to the circumstances in which certain customers lost an entitlement to return to a tracker rate mortgage or, in the case of Springboard which was a subsidiary business of PTSB at the time, were placed on the incorrect rate during their mortgage...

Written Answers — Department of Finance: Tax Reliefs Cost (3 Dec 2015)

Michael Noonan: Tax relief for corporate investments in certain renewable energy projects is provided for under section 486B of the Taxes Consolidation Act 1997.  The relief was given in the form of a deduction for tax purposes from a company's total profits for its direct investment in new ordinary shares in the qualifying renewable energy company. The relief expired on 31 December 2014. I am...

Written Answers — Department of Finance: Tax Compliance (3 Dec 2015)

Michael Noonan: I am advised by the Revenue Commissioners that their programme of compliance interventions in relation to the tax affairs of medical consultants is continuing.  As I indicated in replies to previous questions on this matter from the Deputy in March and April of this year, the main focus of Revenue's work is the tax issues arising from the incorporation of medical consultants' businesses....

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Supplementary) (2 Dec 2015)

Michael Noonan: Thank you Chairman. Vote 7, Office of the Minister for Finance, provides for the salaries and expenses of running the Department including the Office of the Paymaster General. It also provides for the payment of certain grants. In 2016 my Department will be required to provide for a new service, the payment of a fuel grant for disabled drivers. This new fuel grant is being introduced to...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Supplementary) (2 Dec 2015)

Michael Noonan: The Deputy is familiar, as we all are, with the excise rebate scheme to persons who qualified for the disabled drivers scheme. That was deemed to be illegal by the European Court of Justice. We had to replace it with something that would be deemed to be legal and therefore are introducing a grant scheme where a grant of the equivalent amount is being awarded in respect of fuel excise costs...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Supplementary) (2 Dec 2015)

Michael Noonan: For four persons; effectively many organisations have adapted vehicles in order to qualify for the fuel rebate on the same basis as an individual.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Supplementary) (2 Dec 2015)

Michael Noonan: We can agree with the committee's recommendation and I will ask my officials to inform the Secretary General that the committee will be in touch early in the new year with a view to a more useful engagement in our discussions on various financial matters.

Written Answers — Department of Finance: State Bodies Code of Conduct (2 Dec 2015)

Michael Noonan: I am advised by the Revenue Commissioners that, with effect from 1 January 2004, PAYE, PRSI and USC must be operated by employers in respect of the taxable value of benefits-in-kind such as private use of a company car, free or subsidised accommodation, preferential loans, the payment of club subscriptions, medical insurance premiums and other non-cash benefits provided by them for their...

Written Answers — Department of Finance: Tax Collection (2 Dec 2015)

Michael Noonan: I am advised by the Revenue Commissioners that having regard to the confidentiality provisions in section 851A of the Taxes Consolidation Act, 1997, and given that it is not clear on whose behalf the question is asked, Revenue is precluded from providing the information requested.  Revenue has suggested that the personal representative or administrator of the estate concerned...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (2 Dec 2015)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) was incorporated in September 2014 and since then the SBCI has made considerable progress in building relations with lending partners and in constructing the complex operational capability required to bring products to market. These include establishing operational capability with funders and lending partners, building internal systems and...

Written Answers — Department of Finance: Departmental Agencies Staff Remuneration (2 Dec 2015)

Michael Noonan: Following my request, the Irish banks in which the State has a majority ownership position now publish remuneration information on their websites and I have provided a link to the published documents for further information. The figures provided relate to the status at year end 2014, as information for 2015 won't be available until early next year following the close off of annual accounts....

Written Answers — Department of Finance: Pension Provisions (2 Dec 2015)

Michael Noonan: The transfer of an occupational pension scheme member's pension fund benefits or a Personal Retirement Savings Accounts (PRSAs) contributor's PRSA assets to an overseas pension arrangement is permitted, subject to the transfer complying with the Occupational Pension Schemes and Personal Retirement Savings Accounts (Overseas Transfer Payments) Regulations, 2003 (the Regulations) and Revenue...

Written Answers — Department of Finance: Tax Credits (2 Dec 2015)

Michael Noonan: Maintenance payments can relate to maintenance in respect of a former spouse and/or children. The tax treatment of separated spouses depends on the circumstances which apply in each case.  In broad terms the position with regard to the tax treatment of separated persons is as follows. While in general separated couples are treated for tax purposes as if unmarried, they may, where a...

Topical Issue Debate: Living City Initiative (1 Dec 2015)

Michael Noonan: I thank the Deputy for raising the issue. The Living City initiative was enacted in the Finance Act 2013 and commenced on 5 May 2015, following discussions with the European Commission to ensure that the initiative was in compliance with state aid rules. It is worth pointing out, therefore, that the initiative has been operational for just six months. The initial intention of the Living...

Topical Issue Debate: Living City Initiative (1 Dec 2015)

Michael Noonan: The Living City initiative is only seven months in operation after getting the clearance from the European Union to which the Deputy refers. There are seven applications in Dublin, one in Cork, none in Limerick, six in Waterford, two in Kilkenny and two in Galway. I presume when various tax advisers and professional groups in these cities learn more about the scheme, the take-up will be even...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (1 Dec 2015)

Michael Noonan: The Ceann Comhairle has instructed that I attend the Chamber for Topical Issues shortly. I do not know whether I will get through my speech before I have to leave. I presume there will be a short suspension of this sitting while the joint committee waits for me to return. I thank the Chair and the members of the committee for inviting me to speak in advance of the next ECOFIN Council of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (1 Dec 2015)

Michael Noonan: I will continue with my introductory remarks. The first three items, namely, the ECOFIN report to the European Council on tax issues, the report by Finance Ministers on tax issues in the framework of the Euro Plus Pact and the code of conduct, are expected to be taken as “A” items, that is, items agreed without debate. The ECOFIN report to the European Council on tax issues...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (1 Dec 2015)

Michael Noonan: The threshold is €100,000 and the scheme is required to be administered nationally in all funded member states.