Results 5,561-5,580 of 27,019 for speaker:Michael Noonan

Single Resolution Fund: Motion (10 Nov 2015)

Michael Noonan: I move:That Dáil Éireann approves the terms of the Intergovernmental Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund as required under Article 29.5.2° of the Constitution, signed at Brussels on 21 May 2014, a copy which was laid before Dáil Éireann on 9 October 2015. I seek the approval of the Dáil of the motion on the...

Written Answers — Department of Finance: Universal Social Charge Application (10 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 payments,...

Written Answers — Department of Finance: Credit Unions Regulation (10 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 individual...

Written Answers — Department of Finance: Credit Unions (10 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 individual...

Written Answers — Department of Finance: Credit Unions Regulation (10 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 172 and 187 together. The Government recognises the distinct and important role that credit unions play in Irish society and the financial sector and is committed, with the Central Bank, to achieving our vision of financially strong, well governed credit unions providing services to current and future members. Commencement of all sections of the...

Written Answers — Department of Finance: Departmental Meetings (10 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 173 and 174 together. I received a document entitled The Social Housing Funding Proposal from the Irish League of Credit Unions (ILCU) on 22 October 2015. Officials from my Department are currently assessing the proposal. I am not aware of any proposal having been received by my Department from the ILCU in relation to credit unions lending...

Written Answers — Department of Finance: VAT Rate Reductions (10 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 175, 178 and 179 together. The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply.  The zero rate of VAT applies to the supply of articles of: - children's personal clothing not exceeding the size appropriate to children of average build of 10 years of age; and - children's personal footwear...

Written Answers — Department of Finance: VAT Payments (10 Nov 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the approximate yield from VAT on new residential units for 2013, 2014 and to date in 2015 is as set out below. Please note that VAT receipts are estimated based on stamp duty returns, as VAT returns do not require the yield from a particular activity or product to be identified. Year Estimated VAT Yield €m 2013 78 2014 135 2015,...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (10 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 177 and 192 together. The Deputy will be aware that it is not appropriate for me to intervene directly in a dispute between an individual borrower and any financial institution.  Having said that, the CCMA provides a strong consumer protection framework to ensure that each borrower who is struggling to keep up mortgage repayments is treated in a...

Written Answers — Department of Finance: Tax Yield (10 Nov 2015)

Michael Noonan: As the Deputy will appreciate, the Exchequer Returns profiles are generally prepared in early January and reflect the Budget day forecasts.  The rationale for the minus €3 million profiled for October was that repayments expected in October were expected to be slightly bigger than forecast collection.  These repayments had been identified to the Revenue...

Written Answers — Department of Finance: Revenue Commissioners Audits (10 Nov 2015)

Michael Noonan: It is assumed that the Deputy is referring to the National Contractors' Project being run by the Revenue Commissioners. Revenue has provided the following data in relation to this project: Year No of Company Audits No of individual (Director) Audits Tax Interest Penalties 2013 200 129 €3,068,499 €821,856 €976,010 2014 428 321 €6,693,637 €1,930,190...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (10 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 182 and 183 together. As the Deputy is aware, for operational reasons the loan assets of Irish Bank Resolution Corporation Limited (in Special Liquidation) (IBRC) were originally divided into six portfolios: Evergreen, Sand, Rock, Salt, Stone & Pebble. The Sand portfolio comprised 12,702 Irish originated residential mortgages with a par value...

Written Answers — Department of Finance: Personal Public Service Numbers (10 Nov 2015)

Michael Noonan: My replies to Questions Nos. 286 on 3 November 2015 and 87 on 5 November 2015, previously tabled by the Deputy, explained that the requirement that a Personal Public Service Number (PPSN) be provided in respect of a deceased disponer ensures that the aggregation of gifts and inheritances, as required for the calculation of Capital Acquisitions Tax liabilities, is correctly dealt with. ...

Written Answers — Department of Finance: National Payments Plan Implementation (10 Nov 2015)

Michael Noonan: I am informed by the Central Bank that a recommendation contained in the National Payments Plan targeted a significant increase in the number of €10 notes dispensed from ATMs.  Targets were designed in order to increase the proportion of €10 notes in circulation with a view to making lower denomination notes available. The specific targets contained in the National...

Written Answers — Department of Finance: Tax Credits (10 Nov 2015)

Michael Noonan: A PAYE tax credit, as provided for in Section 472 of the Taxes Consolidation Act 1997, is available in both categories outlined by the Deputy.  However, regardless of whether the increase in respect of the qualifying adult dependent is paid directly to the pensioner or to the qualifying adult dependent, the pension and the increase together remain one pension for tax purposes....

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (10 Nov 2015)

Michael Noonan: Regulation 12 of the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994 (S.I. 353 of 1994) provides that a qualifying organisation may, under the conditions contained therein, receive remission or repayment of Vehicle Registration Tax (VRT) and VAT. Regulation (2)(1) of S.I. 353 of 1994 provides that a qualifying organisation means a philanthropic organisation which...

Written Answers — Department of Finance: Tax Credits (10 Nov 2015)

Michael Noonan: The Finance Bill 2015 proposes to introduce a new tax credit known as the Earned Income Tax Credit which will, subject to enactment of the Bill, be available for the tax year 2016 and later years. The tax credit, which is capped at €550, is available in respect of an individual's earned income other than earned income that already qualifies for the Employee (PAYE) Tax Credit.  As...

Written Answers — Department of Finance: Tax Credits (10 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the Post-Budget 2016 Ready Reckoner available on the Revenue Statistics webpage at shows a wide range of information, including an indicative cost of indexation at 1% in respect of various bands, rates, credits, exemption limits and the Universal Social Charge. The 1% indexation estimates, on page 9 of the Reckoner, may be used on a pro-rata or...

Written Answers — Department of Finance: Construction Contracts (10 Nov 2015)

Michael Noonan: I am informed by the Revenue Commissioners that, as with any contract of engagement between two parties in the construction sector or in any other sector, whether a person is engaged either 1.under a contract of service (that is, engaged as an employee and who pays tax under the PAYE system of tax deduction at source); or 2.under a contract for service [that is, as a self-employed...

Written Answers — Department of Finance: Protected Disclosures in the Public Interest (10 Nov 2015)

Michael Noonan: I, in my capacity as Minister for Finance, have no role in relation to the case to which the Deputy refers.  The Central Bank of Ireland's obligations in relation to protected disclosures are set out in the relevant legislation and under that legislation, the Central Bank does not report to the Minister for Finance on these matters.  As required under...