Results 6,081-6,100 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Financial Services Regulation (22 Sep 2015)

Michael Noonan: The question of a regulation regime for receivers is a matter for my colleague, the Minister for Justice and Equality, and was addressed in her response to a Private Members Motion in the Seanad on 6 May of this year. As the Minister pointed out at that time, receivers are normally accountants or solicitors and are subject both to the regulatory and disciplinary regime applicable to...

Written Answers — Department of Finance: Government Expenditure (22 Sep 2015)

Michael Noonan: The Ireland Strategic investment Fund (ISIF) have advised that they will invest €7.6 billion across industry sectors, regions and asset classes in Ireland.  As at 30 June 2015, the ISIF, mainly through investments made by its predecessor fund the NPRF, has committed €1.5 billion to investments aligned with its mandate which has a drawn market value of...

Written Answers — Department of Finance: Infrastructure and Capital Investment Programme (22 Sep 2015)

Michael Noonan: In the absence of full information on the specifics of the UK related investment by Cisco it is difficult to respond in detail on that particular case, which may or may not involve vendor financing. The National Development Finance Agency (NDFA) advise that the vendor financing model typically refers to a financial structure whereby an equipment manufacturer provides loans...

Written Answers — Department of Finance: Insurance Industry (22 Sep 2015)

Michael Noonan: In my role as Minister for Finance, I have responsibility for the development of the legal framework governing financial regulation. The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet these...

Written Answers — Department of Finance: Cycle to Work Scheme Administration (22 Sep 2015)

Michael Noonan: The Cycle to Work Scheme exempts (from income tax, employee PRSI and levies) the benefit in kind arising from the provision of a bicycle / cycle safety equipment by an employer to an employee (or director), where the bicycle is used by the employee to cycle to and from work or between workplaces. I have no plans to amend the Scheme as suggested since the concept of benefit in kind does...

Written Answers — Department of Finance: Tax Code (22 Sep 2015)

Michael Noonan: The State pension, including any increase for a qualifying adult dependent, is chargeable to income tax. Where an individual is entitled to the State pension and such pension is increased by virtue of that individual having a qualifying adult dependant, it remains one pension for tax purposes. Therefore the whole of such income, i.e. State pension plus adult dependant element, has always been...

Written Answers — Department of Finance: Tax Code (22 Sep 2015)

Michael Noonan: I am conscious of the challenges that individuals continue to face, particularly those who purchased homes at the peak of the property market, despite the improving economic conditions. All those paying USC and /or income tax are benefitting from the tax package announced in the last Budget, and as the Deputy is aware, I have stated my intention to prioritise further reductions in...

Written Answers — Department of Finance: Banking Sector (22 Sep 2015)

Michael Noonan: The European Communities Payment Services Directive (PSD) which was transposed into Irish legislation on 1 November 2009, ensures that the same legal framework applies to all payments made within Europe whereby businesses and consumers can make payments securely, cost effectively and efficiently. The PSD establishes the necessary legal framework for Single Euro Payments Area (SEPA) payments...

Written Answers — Department of Finance: Tax Reliefs Availability (22 Sep 2015)

Michael Noonan: I have no plans to introduce an incentive along the lines suggested by the Deputy. The Deputy will appreciate that tax reliefs and exemptions have costs which have to be paid for and their introduction must be considered only where there is a clear economic and social policy need to be addressed. As you will appreciate, I receive numerous requests for the...

Written Answers — Department of Finance: Vehicle Registration (22 Sep 2015)

Michael Noonan: I am advised by Revenue that vehicles are classified for Vehicle Registration Tax (VRT) primarily by reference to the EU category of the vehicle. Revenue determines the EU category, in the case of a used vehicle that has been modified, by reference to documents submitted in support of the declaration for registration. The VRT rate is determined, if it is a category A vehicle, on the basis of...

Written Answers — Department of Finance: VAT Rate Reductions (22 Sep 2015)

Michael Noonan: The 9% Vat rate has been broadly welcomed by the tourism and hospitality industry since its introduction in July 2011 as part of the Jobs Initiative. When I originally announced the Jobs Initiative in 2011, I made it clear that the effects of the VAT reduction would be reviewed before Budget 2013 to ensure that it encouraged employment in the affected sectors. This analysis of the VAT...

Written Answers — Department of Finance: Banking Sector (22 Sep 2015)

Michael Noonan: As the Deputy will be aware under the Relationship Framework the State does not intervene in the day to day operations of the bank or their management decisions regarding commercial matters. AIB has previously indicated that as part of its restructuring plan to reduce costs and increase efficiencies, outsourcing of certain functions would be considered in consultation with unions and affected...

Written Answers — Department of Finance: Pensions Levy (22 Sep 2015)

Michael Noonan: This question refers to the stamp duty levies applying to the assets of funded pension arrangements introduced in 2011 to pay for the Jobs Initiative, the chargeable persons for which are the trustees of pension schemes and others responsible for the management of pension fund assets. The original 0.6% stamp duty levy on pension fund assets ended last year. The additional levy of 0.15%...

Written Answers — Department of Finance: Tax Reliefs Application (22 Sep 2015)

Michael Noonan: I propose to take Questions Nos. 325 and 360 together. Rent-a-room relief is provided for in section 216A of the Taxes Consolidation Act (TCA) 1997. Under section 216A, sums arising to an individual in respect of the letting of a room or rooms as residential accommodation in his or her home and from meals or other services supplied in connection with the letting, are exempt from income tax...

Written Answers — Department of Finance: Tax Exemptions (22 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners that legislation governing the Drivers and Passengers with Disabilities Scheme is provided for in the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (S.I. 353 of 1994). Full details of the Scheme are set out in Information Leaflet VRT 7 which is available on the Revenue website. In order to qualify for relief under the...

Written Answers — Department of Finance: VAT Exemptions (22 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners certain retail outlets operating at Irish airports may apply the zero rate of VAT to retail sales of goods to passengers travelling to destinations outside the European Union. This is allowed under paragraph 7 of Schedule 2 of the Value-Added Tax Consolidation Act 2010. All goods supplied to other travellers are liable to Irish VAT at the appropriate...

Written Answers — Department of Finance: Budget 2016 (22 Sep 2015)

Michael Noonan: Preparations for budget 2016 and the consequent Finance Bill are ongoing. It would not be appropriate for me to comment on what changes, if any, are being considered regarding taxation and agriculture or in relation to any other tax measure.

Written Answers — Department of Finance: Budget 2016 (22 Sep 2015)

Michael Noonan: Preparations for budget 2016 and the consequent Finance Bill are ongoing. It would not be appropriate for me to comment on what changes, if any, are being considered to capital acquisitions tax (which applies to gifts and inheritances) or any other tax measure.

Written Answers — Department of Finance: Mortgage Interest Rates (22 Sep 2015)

Michael Noonan: I have been informed by permanent tsb that following the initial announcement on July 1st which allows over 70,000 existing homeloan customers on Standard Variable Rate Mortgages of 4.5% to move to new mortgage interest rates which will start from as little as 3.70% dependent on the loan to value of the borrowers property, ptsb has worked as quickly as possible to get letters issued...

Written Answers — Department of Finance: Tax Code (22 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners that all Community Employment payments to participants, including those with adult and child dependents, are assessable for Income Tax (PAYE) purposes. The actual amount payable by any individual will depend on her/his Tax Credits and Standard Rate Cut-Off Point. Community Employment participants pay PRSI at Class A8/A9 which counts as a full...