Results 6,421-6,440 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Data (16 Jul 2015)

Michael Noonan: The Deputy previously asked this question on 12 February this year, Parliamentary Question No. 87 (PQ 6542/15) and in my reply of 12 February, I set out the legislative provisions that are due to expire on 31 December 2015. There have been no changes since my earlier reply. The following provisions are due to expire at the end of 2015: Legislative Provision Brief Description Section...

Written Answers — Department of Finance: Revenue Commissioners Audits (16 Jul 2015)

Michael Noonan: I believe the Deputy is referring to Revenue's National Contractors Project, which started in July 2013. In the period 1 July 2013 to 25 June 2015, 686 audits of contracting companies and a further 494 audits of the directors of those companies were concluded giving rise to additional tax interest and penalties of €17,020,605. A further €179,997 is the subject of enforcement...

Written Answers — Department of Finance: Banks Recapitalisation (16 Jul 2015)

Michael Noonan: As you will be aware, the Euro-area Heads of State or Government (HoSG) agreed in June 2012 that "it is imperative to break the vicious circle between banks and sovereigns" and that when a Single Supervisory Mechanism, involving the ECB, is in place and operational, the European Stability Mechanism (ESM) could recapitalise banks directly. On 8 December 2014, the ESM Board of Governors...

Written Answers — Department of Finance: Tax Yield (16 Jul 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the estimated yield that could be raised in a full year through increasing the tax on cigarettes by 25 cent and 50 cent, with a pro rata increase in duty on other tobacco products, is in the region of €30m and €60m respectively, assuming no change in consumer behaviour.

Written Answers — Department of Finance: VAT Payments (16 Jul 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: Tax Data (16 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 165, 166, 168 and 169 together. I am informed by Revenue that the amount of Deposit Interest Retention Tax (DIRT) collected in 2011 to 2014 is available in the "Net Receipts" section of the Revenue's Statistics webpage: . I am further informed by Revenue that DIRT on interest bearing deposits is declared and paid on a four-times yearly basis by financial...

Written Answers — Department of Finance: Tax Yield (16 Jul 2015)

Michael Noonan: I am advised by Revenue that data relating to the net receipts for Stamp Duty are available from the statistics webpage of the Revenue website at . In particular, the data which the Deputy seeks are available at .The bank levy, which was introduced in Finance (No 2) Act 2013, was received from 10 financial institutions.

Written Answers — Department of Finance: Public Interest Directors (16 Jul 2015)

Michael Noonan: I can confirm for the Deputy that I have notified Bank of Ireland that my current intention is to appoint a replacement director in due course to the board of Bank of Ireland, following the sad loss of Mr. Joe Walsh.  

Written Answers — Department of Finance: Banking Sector Staff (16 Jul 2015)

Michael Noonan: AIB announced on 29th May 2015 that Mr. Bernard Byrne would take up the post of Chief Executive Officer of the bank effective from that date. This appointment followed a search and selection process undertaken by the board of the bank following the resignation of the previous CEO on 19th January 2015. The full text of the bank's announcement is available on its website and...

Written Answers — Department of Finance: Bank Guarantee Scheme Administration (16 Jul 2015)

Michael Noonan: On the 26thFebruary 2013, following a decision by the Cabinet, it was announced that the ELG Scheme would end for new liabilities at midnight on 28thMarch 2013. Liabilities incurred after January 2010 and before midnight on 28th March 2013 remain covered until their next maturity subject to a maximum term of 5 years (28th March 2018). At the date of ending the Scheme for new liabilities,...

Written Answers — Department of Finance: Property Tax (16 Jul 2015)

Michael Noonan: I am advised by Revenue that the refunds to which the Deputy refers arose from the initial interpretation of Section 8 of the Finance (Local Property Tax) Act 2012 (as amended). The Section was originally interpreted as benefitting first-time buyers of second hand houses but was subsequently deemed to benefit any person who purchased a second hand house in 2013 as a sole or main...

Written Answers — Department of Finance: Universal Social Charge Payments (16 Jul 2015)

Michael Noonan: The additional 3% Universal Social Charge paid by self-employed persons earning over €100,000 is provided for in subsection 2 of section 531AN, of the Taxes Consolidation Act 1997. This legislation was introduced in Finance Act 2011, and at that time included a provision that the measure would cease to have effect for the tax year 2015 and subsequent years. The USC provisions in...

Written Answers — Department of Finance: Insurance Compensation Fund (16 Jul 2015)

Michael Noonan: The Insurance Compensation Fund was established by the Insurance Act 1964.  Its purpose is to protect policy holders in the event of their insurer becoming insolvent. The management and administration of the Insurance Compensation Fund is under the control of the President of the High Court acting through the Office of the Accountant of the Courts of Justice.  The Central Bank...

Written Answers — Department of Finance: Tax Rebates (16 Jul 2015)

Michael Noonan: The Revenue Commissioners inform me that there are 2,139 qualifying road transport operators currently availing of the diesel rebate scheme. The total amount repaid to date for 2013 and 2014 is €0.7m and €22.7m, respectively. To qualify for the repayment, a road transport operator must comply with certain requirements and conditions of the scheme. These requirements are...

Written Answers — Department of Finance: Deposit Guarantee Scheme (16 Jul 2015)

Michael Noonan: The Central Bank of Ireland is responsible for the operation of the Deposit Guarantee Scheme (DGS), which covers licensed credit institutions operating in the State.  The DGS covers deposits up to €100,000 per eligible depositor per credit institution. The amount of covered deposits currently stands at approximately €87bn.

Written Answers — Department of Finance: Seed Capital Scheme (16 Jul 2015)

Michael Noonan: A wide range of statistical information is available on the Revenue Commissioners' Statistics webpage: .  In relation to the Deputy's question, the latest detailed information on the costs of allowances and reliefs can be found in under the heading 'Costs of Tax Expenditures'. The relevant lines are "Employment and Investment Incentive (EII)'' and "Investment in Seed Capital". The...

Written Answers — Department of Finance: Small and Medium Enterprises Debt (16 Jul 2015)

Michael Noonan: I am informed by the Central Bank that they do not publish statistics on SME debt as part of any of their statistical series. However, the Bank do publish the level of outstanding debt, through the statistical release "Trends in Business Credit and Deposits: Q1 2015", which indicates that total loans by Irish resident credit institutions to Irish resident SMEs was €52.8...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (16 Jul 2015)

Michael Noonan: The Ireland Strategic Investment Fund (ISIF) recently published its first Baseline Economic Impact Report. Key figures show that as at 31 December 2014: - ISIF had committed €1.4 billion to investments in Ireland, with €726 million already drawn down. - 79 Irish companies and projects with a combined annual turnover of €472 million benefit from ISIF investment -...

Written Answers — Department of Finance: Tax Residency (16 Jul 2015)

Michael Noonan: I would refer the Deputy to my previous answer to him from 5th February 2015 (Parliamentary Question Number 5372/15) which dealt with the change in company residence rules that I announced in Budget 2015. As I explained at that time, I am advised by the Revenue Commissioner that they have been advised of companies that will be affected by the change in...

Written Answers — Department of Finance: Mortgage Arrears Rate (16 Jul 2015)

Michael Noonan: I am informed by the Central Bank that it does not publish statistics in relation to the number of non-cooperating borrowers under the Code of Conduct on Mortgage Arrears (CCMA).  My Department publishes monthly data on mortgage arrears and restructures but it does not include data on non-cooperating borrowers.  It is, therefore, not possible, to provide the Deputy with...