Results 6,601-6,620 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Eurozone Crisis (7 Jul 2015)

Michael Noonan: Any programme between Greece and its creditors must be based on credible, growth-friendly measures that strike an appropriate balance between fiscal consolidation on the one hand and supporting economic recovery on the other hand.  My primary objective therefore is that, if a programme can be negotiated, there is ownership by the authorities and the measures implemented are as...

Written Answers — Department of Finance: Eurozone Crisis (7 Jul 2015)

Michael Noonan: Discussions regarding the Greek programme, its financing needs and the sustainability of its debt take place at the euro area level, involving Finance Ministers (the Eurogroup). The Eurogroup in its statement of November 2012 committed to considering further measures and assistance (including inter alia lower co-financing in structural funds and/or further interest rate reductions on the...

Written Answers — Department of Finance: European Financial Stability Facility (7 Jul 2015)

Michael Noonan: Financial market developments in the euro area (outside of Greece) have been relatively calm in recent days despite the announcement of the Greek referendum and the subsequent results on Sunday. While some Member States initially experienced some widening of bond yields, this was relatively small and suggests that the firewalls created and the governance changes made...

Written Answers — Department of Finance: Personal Public Service Numbers (7 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the person in question is a non-resident owner of a residential property located in the Republic of Ireland. As far as the Commissioners are aware the person does not hold an Irish Personal Public Service Number (PPSN) and was allocated a Local Property Tax (LPT) 'Customer Number' purely to facilitate her online payment and filing obligations...

Written Answers — Department of Finance: Tax Code (7 Jul 2015)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. In this regard, the rate of VAT that applies to a particular good or service is determined by the nature of the good or service, and not by the status of the customer. Children's clothing and footwear are subject to the zero rate for children which is defined as the...

Written Answers — Department of Finance: Tax Code (7 Jul 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 the Deputy will appreciate, I receive numerous...

Written Answers — Department of Finance: Tax Code (7 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that having regard to the provisions of Section 851A of the Taxes Consolidation Act 1997, whereby they are obliged to treat taxpayer information confidentially, they are precluded from providing the information requested by the Deputy. Where an employee has specific concerns about the return to Revenue, by their employer, of PAYE/PRSI deductions...

Written Answers — Department of Finance: Property Tax Collection (7 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the property owner in question opted to pay his 2015 Local Property Tax (LPT) by 'deduction at source' from his occupational pension. The person concerned is also paying the Household Charge (HHC) through deduction at source. The cumulative deduction to cover both the LPT and HHC charges amounts to €7 per week. Revenue has been in...

Written Answers — Department of Finance: Banking Sector (7 Jul 2015)

Michael Noonan: It is the responsibility of the Central Bank of Ireland (CBI) to ensure that regulatory protections are in place to cover the risk identified in the Deputy's question.  I have been informed by the CBI that under the Consumer Protection Code 2012 (CPC 2012) a regulated entity must ensure that in all its dealings with customers and within the context of its authorisation...

Written Answers — Department of Finance: Tax Code (7 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that Section 266A of the Taxes Consolidation Act 1997 provides for a refund of Deposit Interest Retention Tax (DIRT) on certain savings held by qualifying first-time buyers who purchase or self-build a property between 14 October 2014 and 31 December 2017. A qualifying first-time buyer is a person who, at the time of the purchase, has not...

Written Answers — Department of Finance: Mortgage Interest Rates (7 Jul 2015)

Michael Noonan: As it is subject to an ongoing Central Bank enforcement investigation Permanent TSB ("PTSB") is not in a position at the present time to provide any further detail than that provided on 17 February 2015.PTSB has made clear to my officials that it will do everything in its power to expedite this matter and ensure that all affected customers are identified and receive appropriate redress.

Written Answers — Department of Finance: Transfer Pricing (7 Jul 2015)

Michael Noonan: The term 'transfer pricing' describes the process by which members of a group of companies set the prices at which they pass goods, services, finance and assets between each other. There has been a substantial worldwide increase in trade in recent decades, much of which now takes place within multinational groups. Transfer pricing is a normal and necessary feature of transactions within...

Written Answers — Department of Finance: Tax Treaties (7 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 118 and 119 together. Work relating to tax and revenue systems in developing countries falls to the Revenue Commissioners. Where the opportunity has arisen, for example in Rwanda a number of years ago, Revenue has shared its expertise in assisting tax administrations to modernise, particularly in relation to the automation of processes making use of...

Written Answers — Department of Finance: Tax Treaties (7 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 120 and 121 together. Revenue is fully and actively engaged in the exchange of information between Revenue and the tax authorities of jurisdictions with whom we have a legal basis for the exchange of information. In 2014, Revenue received 515 requests for exchange of information in respect of direct taxes and VAT from other jurisdictions and...

Written Answers — Department of Finance: Tax Collection (7 Jul 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the amount of Corporation Tax collected in each of the past ten years, the percentage it represents of the entire tax take and the estimated share of Corporation Tax liabilities from foreign owned multinational companies is set out in the following table. Year Corporation Tax Receipts (€ million) Corporation Tax  as % of Total Tax...

Written Answers — Department of Finance: Tax Code (7 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that there is currently no specific tax regime applicable to corporate patent royalty income. Patent royalty income received by a company in the course of carrying on a trade is chargeable to corporation tax at 12.5% (and at 25% if it is received in a non-trading context). However, in Budget 2015, I introduced a new Road Map for Ireland's Tax...

Written Answers — Department of Finance: Free Movement of Capital (7 Jul 2015)

Michael Noonan: The free movement of capital is one of the key principles of the European Union. Having said that, the European Commission has noted that capital controls may be introduced for overriding reasons of general public interest. It notes that 'such exceptions to the principle of the free movement of capital must be interpreted very strictly, and be non-discriminatory, as well as suitable...

Written Answers — Department of Finance: Tax Code (7 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the tax position of an individual depends on their residence, ordinary residence and domicile and on the source of income.  The rules regarding residence and ordinary residence are detailed in sections 819 and 820 of the Taxes Consolidation Act (TCA) 1997. The concept of domicile is based on case law and is not prescribed in legislation....

Written Answers — Department of Finance: Tax Code (7 Jul 2015)

Michael Noonan: I assume that the Deputy's question is in relation to tax relief for maintenance payments in respect of children. There is no provision in the tax code for tax relief in this regard. This is the case regardless of whether the payments are made voluntarily or under a legally binding maintenance arrangement. Maintenance payments in respect of children are not taxable in the hands of the...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (7 Jul 2015)

Michael Noonan: As the Deputy is aware, the Revenue Commissioners operate the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme. Section 101 of the Ministers and Secretaries (Amendment) Act 2011 provides that the Revenue Commissioners shall be independent in the performance of their functions under, or for the purposes of, inter alia, any statute relating to the duties of excise or the...