Results 7,061-7,080 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Credits (16 Jun 2015)

Michael Noonan: Since 16 October 2013, tax relief for medical insurance premiums has been restricted to the first €1,000 per adult and the first €500 per child insured. Any portion of premium paid in excess of these ceilings no longer qualifies for tax relief.  Prior to this, income tax relief for medical insurance premiums was provided at source, at the standard rate of income tax, on the...

Written Answers — Department of Finance: Living City Initiative (11 Jun 2015)

Michael Noonan: The Special Regeneration Areas for the Living City Initiative were designated following consultation with the relevant city councils and an independent review by a third party advisor. Specific criteria were set down in respect of the areas which should be included within the remit of the Living City Initiative which were required to be taken into account by the relevant city councils...

Written Answers — Department of Finance: Vehicle Registration (11 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that under the Finance Act 1992 they have responsibility for the legislation governing vehicle identification marks (registration numbers) in the State and that the format is prescribed in Statutory Instrument No. 318 of 1992, Vehicle Registration and Taxation Regulations (as amended). There is provision that the Commissioners may assign to a...

Written Answers — Department of Finance: Pension Provisions (11 Jun 2015)

Michael Noonan: It is not possible, from the limited details set out in the question, to provide a definitive answer to the query posed. However, if the Deputy provides me with more complete details I will have officials of my Department consider the matter in conjunction with the Revenue Commissioners and advise him of the position.

Written Answers — Department of Finance: Drugs Seizures (11 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the values of the illegal drugs which have been seized in each of the past five years are set out in the table. The values are estimated at the time of seizure and before full forensic analysis is complete. Year Value of Illegal Drugs Seized 2010 €7,939,292 2011 €21,830,305 2012 €47,136,198 2013 €18,741,251...

Written Answers — Department of Finance: Banking Sector Regulation (11 Jun 2015)

Michael Noonan: As the Deputy will be aware 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 relevant staff and their union representatives. Notwithstanding...

Written Answers — Department of Finance: Property Tax Exemptions (11 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that in excess of 4,000 exemption claims in respect of Local Property Tax (LPT) have been received under the 'unfinished housing estate' qualifying criteria since the tax was introduced in 2013. Of these, approximately 1,200 cases have been reviewed to date as part of Revenue's ongoing compliance programme.  Where there was doubt as regards...

Written Answers — Department of Finance: Tax Credits (11 Jun 2015)

Michael Noonan: The legislation governing entitlement to the incapacitated child tax credit is contained in section 465 of the Taxes Consolidation Act 1997, as amended.  The legislation provides that an individual is entitled to the tax credit for a year if he or she proves that at any time during that year he or she had a child living who - is under 18 years of age and is permanently incapacitated...

Written Answers — Department of Finance: Fuel Sales (11 Jun 2015)

Michael Noonan: The introduction of Carbon Tax was about sending a price signal that there is a cost associated with the consumption of fossil fuels to the detriment of the environment. It should be noted that as solid fuels have the highest carbon content of all fossil fuels they are considered the dirtiest fuels and given the environmental impact it is important that they are taxed. When introducing...

Written Answers — Department of Finance: Tax Agreements (11 Jun 2015)

Michael Noonan: During the Irish Presidency of the European Union in 2013, the following achievements were secured in relation to tax: - An authorising decision was adopted on the Financial Transactions Tax. - Agreement was reached with the European Parliament on a proposal for the FISCALIS 2020 programme. - A negotiating mandate was adopted for third countries and agreement was reached on the Regulation...

Written Answers — Department of Finance: Tax Agreements (11 Jun 2015)

Michael Noonan: The Spillover Analysis research project commenced by my Department in 2014 forms part of a commitment, contained in Ireland's International Tax Strategy (2013), to engage constructively and respectfully with developing countries in relation to tax matters, to support such countries in raising domestic tax revenues in ways that are more efficient, that promote good governance and equitable...

Written Answers — Department of Finance: Tax Code (11 Jun 2015)

Michael Noonan: The Government's overarching priority in recent years has been to return stability to the public finances, while also ensuring that economic recovery is supported and the most vulnerable in society are protected.  Indeed, it is quite obvious that stable and sustainable public finances are a pre-requisite for social cohesion.  The Government's approach to economic and...

Written Answers — Department of Finance: Corporation Tax Regime (11 Jun 2015)

Michael Noonan: I would like to inform the Deputy that measures were introduced in Finance Act 2014 implementing the changes in tax residence rules that were announced in Budget 2014.  A company incorporated in the State is regarded as resident for tax purposes in the State, unless it is treated as resident in a treaty partner country for the purposes of a double taxation treaty. The changes introduced...

Written Answers — Department of Finance: Knowledge Development Box (11 Jun 2015)

Michael Noonan: In Budget 2015, I introduced a new Road Map for Ireland's Tax Competitiveness to update the objectives set out in the 2013 International Tax Strategy, and to set out a clear path for this country's tax competitiveness into the future.  The Road Map set out a comprehensive package of measures designed to reposition Ireland to reap the benefits of sustainable foreign direct investment in a...

Written Answers — Department of Finance: Universal Social Charge Yield (11 Jun 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the first and full year estimated yield to the Exchequer of raising the amount of Universal Social Charge paid by employees on the proportion of their salary over €100,000 to match the existing regime for the self-employed is in the order of €81 million and €102 million respectively. These figures are estimates for...

Written Answers — Department of Finance: Corporation Tax (11 Jun 2015)

Michael Noonan: In relation to the effective rate of corporation tax, the Deputy may be aware that my Department last year published a comprehensive Technical Paper on Effective rates of Corporation Tax in Ireland. This report is published on the Department's website and can be viewed at the following link: In attempting to assess the effective corporate tax rate that is applied to the total of company...

Written Answers — Department of Finance: Tax Yield (11 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the full year yield to the Exchequer for each increase of 0.1% on the current 1% Stamp Duty on share transactions, by reference to the expected 2015 outturn, is estimated to be in the region of an additional €38 million.  This is calculated on a straightline basis and the estimated yields from the increases of 0.1% up to 2% as...

Written Answers — Department of Finance: Tax Code (11 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that registration thresholds are provided for in the VAT Directive (Council Directive 2006/112/EC), with which Irish VAT legislation must comply. The Directive provides that the VAT exemption limits may only be raised to maintain their value in real terms, that is, they may only be increased in line with increases in the consumer price index. ...

Written Answers — Department of Finance: Fiscal Policy (11 Jun 2015)

Michael Noonan: I have noted the views of the Irish Fiscal Advisory Council (IFAC) as published in the Fiscal Assessment Report last week. We are on track to correct the excessive deficit in line with the requirements of the corrective arm of the Stability and Growth Pact (SGP) this year. Indeed, I note that the ESRI in its Summer Quarterly Economic Commentary published...

Written Answers — Department of Finance: Fiscal Policy (11 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 87 and 90 together. As stated in the Stability Programme Update (SPU) and the Spring Economic Statement (SES), the 2016 forecast reflects a budgetary package of €1.2 billion, evenly split between revenue and expenditure measures.  If this €1.2 billion package was not implemented, this would improve the general government deficit ratio,...