Results 6,941-6,960 of 27,019 for speaker:Michael Noonan

Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Order for Report Stage (17 Jun 2015)

Michael Noonan: I move: "That Report Stage be taken now."

Written Answers — Department of Finance: Fuel Prices (17 Jun 2015)

Michael Noonan: The price differential of fuel purchased north and south of the border is driven by a number of variable factors, exchange rates, taxes, reliefs and differing compositions of the products. The exchange rate between the Euro and Sterling at any given point in time has a significant impact on the end price of solid fuel in both jurisdictions. Since mid 2013 the sterling euro exchange rate has...

Written Answers — Department of Finance: Tourism Industry (17 Jun 2015)

Michael Noonan: The Government recognises that small businesses, including those in the hotel and catering industry, play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy since 2011 has been focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. The...

Written Answers — Department of Finance: Property Tax Collection (17 Jun 2015)

Michael Noonan: I am very conscious of the concerns of homeowners, particularly those in urban areas, as regards increasing property prices and the effects this would have on their LPT liabilities.  With a view to addressing these concerns, I have asked former public servant Dr. Don Thornhill, who chaired the 2012 Inter-Departmental Group which designed the Local Property Tax (LPT),...

Written Answers — Department of Finance: IBRC Operations (17 Jun 2015)

Michael Noonan: As the Deputy will be aware the terms of reference of the proposed Commission of Investigation in relation to IBRC include the following explicit term of reference dealing with information received by the Department of Finance: "in relation to each transaction under investigation, whether the Minister for Finance or his Department was kept informed where appropriate in respect of the...

Written Answers — Department of Finance: IBRC Operations (17 Jun 2015)

Michael Noonan: As the Deputy will be aware the terms of reference of the proposed Commission of Investigation in relation to IBRC include the following explicit term of reference dealing with information received by the Department of Finance: "in relation to each transaction under investigation, whether the Minister for Finance or his Department was kept informed where appropriate in respect of the...

Written Answers — Department of Finance: Departmental Staff Remuneration (17 Jun 2015)

Michael Noonan: I wish to inform the Deputy that the current number of employees in my Department with income over €100,000 is 9. The percentage of income tax these employees pay is a matter between themselves and the Revenue Commissioners.

Written Answers — Department of Finance: Tax Reliefs Availability (17 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 77 and 81 together. I am advised by the Revenue Commissioners that within the tax code there are a significant range of tax reliefs associated with property. All reliefs, including property related reliefs, are a cost to the exchequer and in a report on tax expenditures published by my Department last October I set out this Government's tax policy basis in...

Written Answers — Department of Finance: Tax Yield (17 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that €356m was paid in respect of capital acquisitions tax for the year 2014. A breakdown of this total by gift tax, inheritance tax, probate tax and discretionary trust tax is available on the Revenue Commissioners' statistics website at . The most recent year for which this information is available is 2014 and updates will be published in due...

Written Answers — Department of Finance: Banking Sector Staff (17 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 79, 97 and 98 together. As I have previously stated under the Relationship Frameworks the State does not intervene in the day to day operations of the banks in which it holds investments or their management decisions regarding commercial matters and hence any discussions around matters such as outsourcing are a matter for the bank, the...

Written Answers — Department of Finance: Property Tax Exemptions (17 Jun 2015)

Michael Noonan: The Deputy will be aware that I have initiated a review of the operation of the Local Property Tax (LPT). The Review will primarily have regard to recent residential property price developments, the overall yield from LPT, and the desirability of achieving relative stability in LPT payments. It will also address a number of issues which have arisen in relation to the efficient and effective...

Written Answers — Department of Finance: Mortgage Arrears Rate (17 Jun 2015)

Michael Noonan: The Deputy will be aware that the Central Bank prepare quarterly statistical bulletins on Residential Mortgage Arrears and Repossessions, the most recent of which was published on 4th June last in respect of Quarter one 2015. I am informed by the Central Bank that the CBI mortgage arrears data relate to the number of accounts rather than people in arrears. The number of primary dwelling home...

Written Answers — Department of Finance: Tax Code (17 Jun 2015)

Michael Noonan: VAT is a tax on consumption and is applied to supplies being made by a person and not to supplies received by them.  Non-profit groups engaged in non-commercial activity are exempt from VAT under the EU VAT Directive.  This means that they do not register for VAT and cannot recover VAT incurred on goods and services that they purchase.  This non-entitlement to VAT...

Written Answers — Department of Finance: Tax Data (17 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 84 to 86, inclusive, together. I am advised by the Revenue Commissioners that, in discharging their statutory role in relation to the administration and collection of taxes, the Revenue Commissioners provide a range of information, including tax opinions, to taxpayers to assist them in understanding and complying with their obligations under tax law. Revenue...

Written Answers — Department of Finance: State Aid Investigations (17 Jun 2015)

Michael Noonan: Last year, the European Commission announced its intention to open formal state aid investigations into tax rulings provided to a number of companies in various Member States of the European Union.  More recently the Commission announced that it was broadening its enquiries to include all Member States.   I would like to emphasise that, while the Commission has opened a...

Written Answers — Department of Finance: Tax Code (17 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that, while tax legislation does not set out specific criteria for advance pricing arrangements (APAs), Revenue adheres to the published OECD and EU transfer pricing guidelines for all bilateral APAs concluded with treaty partner countries. An advance pricing arrangement is defined in the 2010 OECD Transfer Pricing Guidelines for Multinational...

Written Answers — Department of Finance: Taxpayer Confidentiality (17 Jun 2015)

Michael Noonan: Under Irish tax law, taxpayer information is confidential and the Revenue Commissioners are prohibited from publishing taxpayer information or providing such information to third parties. Other EU Member States have a similar confidentiality rule in relation to taxpayer information, so that taxpayers can be assured of strict confidence and trust in providing full information in their...

Written Answers — Department of Finance: Tax Code (17 Jun 2015)

Michael Noonan: Specific transfer pricing legislation was enacted in Ireland in the Finance Act 2010 and there is an increasing focus by the Revenue Commissioners, as for tax authorities in other countries, on ensuring that multinational profits are not understated.   Transfer pricing law and practice across countries seeks to ensure that the profits of multinational companies are not understated in...

Written Answers — Department of Finance: Tax Code (17 Jun 2015)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. For the purposes of CAT, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary),...

Written Answers — Department of Finance: EU Directives (17 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 92 and 99 together. The Deposit Guarantee Scheme (DGS) provides protection of up to €100,000 per saver per credit institution, including credit unions. The scheme gives confidence to depositors that their money is safe in the event that a financial institution gets into financial difficulty. Directive 2014/49/EU is a new Directive in...