Results 5,121-5,140 of 27,019 for speaker:Michael Noonan

Finance Bill 2015: Report Stage (Resumed) (25 Nov 2015)

Michael Noonan: I move amendment No. 8:In page 65, line 27, to delete “one or more” and substitute “all”.

Finance Bill 2015: Report Stage (Resumed) (25 Nov 2015)

Michael Noonan: I move amendment No. 9:In page 66, between lines 9 and 10, to insert the following: “ ‘relevant company’ means a company (including a company in a qualifying group) the disposal of shares in which forms the whole or part of the disposal of chargeable business assets;”.

Finance Bill 2015: Report Stage (Resumed) (25 Nov 2015)

Michael Noonan: I move amendment No. 10:In page 66, lines 11 and 12, to delete “for a minimum period of 3 years” and substitute “for a continuous period of not less than 3 years in the 5 years”.

Finance Bill 2015: Report Stage (Resumed) (25 Nov 2015)

Michael Noonan: I move amendment No. 11:In page 66, to delete lines 13 to 15.

Finance Bill 2015: Report Stage (Resumed) (25 Nov 2015)

Michael Noonan: I move amendment No. 12:In page 66, line 25, to delete “target company” and substitute “relevant company”.

Finance Bill 2015: Report Stage (Resumed) (25 Nov 2015)

Michael Noonan: I move amendment No. 13:In page 66, line 27, to delete “target company” and substitute “relevant company”.

Finance Bill 2015: Report Stage (Resumed) (25 Nov 2015)

Michael Noonan: Deputy Boyd Barrett's main charge is, effectively, that putting a knowledge development box into Irish tax law is motivated by a desire to facilitate large corporations to avoid tax. It is essentially the charge the Deputy has laid here. The origins of the patent boxes and the knowledge development box in this form come from the OECD and the European Commission. In recent years, both those...

Finance Bill 2015: Report Stage (Resumed) (25 Nov 2015)

Michael Noonan: This section introduces the new corporation tax relief that is known as the KDB. The amendments in the names of Deputies Pearse Doherty and Tóibín were discussed reasonably extensively yesterday. The legislation provides that profits from certain qualifying assets that were earned by a company chargeable to corporation tax in this State, to the extent that the assets relate to...

Written Answers — Department of Finance: Departmental Agencies (25 Nov 2015)

Michael Noonan: In response to the Deputy's query please find, in tabular form, all new State agencies or bodies established under the aegis of the Department of Finance since March 2011. I would ask the Deputy to note that The New Economy and Recovery Authority (NewERA) has been established on a statutory basis within the NTMA following the commencement of the relevant section of the National Treasury...

Written Answers — Department of Finance: Universal Social Charge Application (25 Nov 2015)

Michael Noonan: The USC was introduced in Budget 2011 to replace the Income Levy and Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and maintain revenue to reduce the budget deficit. It is a more sustainable charge than those it replaced, and is applied at a low rate on a wide base.  The USC, like the Income Levy before it, does not apply to social welfare...

Written Answers — Department of Finance: Credit Unions Services (25 Nov 2015)

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...

Written Answers — Department of Finance: Financial Services Regulation (25 Nov 2015)

Michael Noonan: Every year, in order to cover the costs of financial regulation, the Central Bank prescribes levies to be paid by entities subject to such regulation. The Central Bank had briefed industry representatives in August that it was proposing significant increases in those levies in 2015. The proposed increases were driven by a proliferation of legislative regulation and...

Written Answers — Department of Finance: Tax Reliefs Eligibility (25 Nov 2015)

Michael Noonan: The State encourages individuals to save for their retirement by providing incentives through the tax system for them to invest some of their earned income into pension saving arrangements approved by the Revenue Commissioners. The incentives include exemption from income tax on pension contributions made from annual relevant earnings based on a percentage of those earnings which increases...

Written Answers — Department of Finance: Tax Compliance (25 Nov 2015)

Michael Noonan: The Deputy will be aware that a key feature of our tax system is self-assessment. Businesses or individuals operating in the State who have an obligation to taxation are required to self assess and make the necessary returns and payments to the Revenue Commissioners on a timely basis.  I am advised by Revenue that they adopt a risk focused approach to monitoring and assuring...

Written Answers — Department of Finance: Tax Code (25 Nov 2015)

Michael Noonan: I assume that the Deputy is referring to the annual cost of increasing the Capital Acquisitions Tax category B threshold, which applies to gifts and inheritances from brother, sister, niece, nephew or grandchild, from the existing threshold of €30,150 to €33,000. I am advised by the Revenue Commissioners that the cost of increasing the category B threshold to €33,000...

Written Answers — Department of Finance: Tax Reliefs Availability (25 Nov 2015)

Michael Noonan: There are no special tax arrangements in place to assist the Gaelic Players Association along the lines indicated by the Deputy.  However, section 193 of the Taxes Consolidation Act 1997 contains a general provision whereby income arising from a scholarship held by a person receiving full-time instruction at a university, college, school or other educational establishment is exempt from...

Written Answers — Department of Finance: NAMA Social Housing Provision (25 Nov 2015)

Michael Noonan: I and my officials engage regularly with NAMA on issues such as social housing and residential supply more generally to benefit from their understanding and activity in the market; to better understand how their activity may have an impact on the market and to challenge them to evaluate opportunities in line with their objectives that may make a difference in the market. ...

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: The reason we introduced the sections that provide for a new regime for drilling for offshore oil and gas reserves is, as Deputy Rabbitte pointed out, that Wood Mackenzie recommended against retroactive impositions, as did the all-party committee. The Government relied on the Wood Mackenzie report and Deputy Rabbitte's advice. I am very pleased that no one moved an amendment to change the...

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: I put the speaking note on the record on Committee Stage so I will do so as a courtesy to those who are here this evening. The amendment, in the names of Deputies Pearse Doherty and Tóibín, proposes that a report be prepared on options available with regard to ensuring that the PPT will apply to all earnings from all petroleum revenue, regardless of the discovery date of the...

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: Was it from the sump of a motorbike?