Results 7,241-7,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (27 May 2015)

Michael Noonan: The legislation governing the Drivers & Passengers with Disabilities Scheme is contained in Section 92 of the Finance Act 1989 (as amended), Section 134(3) of the Finance Act 1992 (as amended) and the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994 (S.I. 353 of 1994). Regulations 8, 10 and 12 of S.I 353 of 1994 require that a beneficiary of the Scheme...

Written Answers — Department of Finance: Property Tax Administration (27 May 2015)

Michael Noonan: I understand that the information returned to Revenue indicates what Local Property Tax band a property fell into in 2013 rather than its actual value or its value in the current market. Therefore, any yield estimate made on the basis of this information would involve wide margins of error. I do not consider that it would be helpful in the circumstances to hypothesise in advance of the...

Written Answers — Department of Finance: National Minimum Wage (27 May 2015)

Michael Noonan: In March, the Low Pay Commission issued a request for submissions, seeking the views of individuals and bodies with an interest in the minimum wage, as part of a public consultation process. In response to this request, and given my Department's responsibility for economic policy advice, the Department's Economics Division developed a submission internally which was subsequently...

Written Answers — Department of Finance: Tax Collection (27 May 2015)

Michael Noonan: I am advised by Revenue that the total amount of outstanding uncollected taxes at 31 March 2015 was €1,695 million. This amount represents a reduction of €145 million (8%) on the equivalent 31 March 2014 figure. The total 'debt available for collection' (DAC) figure at that point (31 March 2015) was €907 million, which is a reduction of €102 million (10%) on the...

Written Answers — Department of Finance: VAT Rate Application (27 May 2015)

Michael Noonan: The VAT rating of goods and services is constrained by the requirements of EU VAT law with which Irish VAT law must comply.  Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate of 23%. Parts or accessories and training are also liable to VAT at the standard rate. There is no provision in the EU VAT Directive that would make it possible to...

Written Answers — Department of Finance: Tax Reliefs Application (27 May 2015)

Michael Noonan: Section 216A of the Taxes Consolidation Act 1997 provides for the rent-a-room scheme. This scheme was introduced in Finance Act 2001 as an incentive to encourage individuals to let rooms in their principal private residence in order to bring about an increase in the availability of rental accommodation, particularly for the student sector. The scheme provides an exemption from Income Tax,...

Written Answers — Department of Finance: Universal Social Charge Application (27 May 2015)

Michael Noonan: The legislation governing an Employee Share Ownership Trust (ESOT) is contained in Section 519 and Schedule 12 to the Taxes Consolidation Act 1997.  A company must apply to the Revenue Commissioners if they wish to operate such an ESOT.  The Revenue Commissioners will only approve the ESOT where all the necessary conditions specified in the legislation are complied with.  ...

Written Answers — Department of Finance: Mortgage Lending (27 May 2015)

Michael Noonan: Central Bank regulated lending institutions, including those in which the State has a significant shareholding, are independent commercial entities.  Therefore, subject to overall compliance with Central Bank prudential and consumer protection regulatory requirements, decisions on individual credit applications are a matter for an individual institution. As...

Written Answers — Department of Finance: Living City Initiative (26 May 2015)

Michael Noonan: The Living City Initiative, which was enacted in the Finance Act 2013 and commenced on 5th May 2015, has been extended beyond the original pilot cities of Limerick and Waterford, to include the cities of Dublin, Cork, Galway and Kilkenny as well. In line with my Department's commitment to evidence based policy-making, the inclusion of these additional four cities was...

Written Answers — Department of Finance: Mortgage Arrears Proposals (26 May 2015)

Michael Noonan: On 13 May, the Government announced a number of measures to support mortgage holders who are in arrears.  Building on action previously taken, the measures aim to increase the supports available to people in arrears and to increase the numbers of people availing of them.  This package will reform the Personal Insolvency framework to give Courts the power to review,...

Written Answers — Department of Finance: Mortgage Arrears Proposals (26 May 2015)

Michael Noonan: On 13 May last the Government announced a number of new measures to support mortgage holders in arrears.  This announcement was coordinated by the Department of the Taoiseach. On a continuing basis, my Department actively engages with key stakeholders involved in addressing mortgage arrears.  In addition to ongoing regular discussions with other Government Departments and...

Written Answers — Department of Finance: Mortgage Arrears Proposals (26 May 2015)

Michael Noonan: There were no companies or individuals contracted by my Department to provide advice or expertise prior to the Government announcement of further measures in respect of mortgage arrears on 13th May last.  The package was developed in a collaborative manner by an Inter-Departmental Committee of senior officials, chaired by the Department of the Taoiseach.  The Government is...

Written Answers — Department of Finance: Ministerial Responsibilities (26 May 2015)

Michael Noonan: The Deputy will appreciate, it is not within the role of the Minister for Finance to require independent local garages to provide a particular set of services to the public. I have issued a reply to the Deputy's correspondence.

Written Answers — Department of Finance: Tax Credits (26 May 2015)

Michael Noonan: I propose to take Questions Nos. 261 to 264, inclusive, together. I am informed by the Revenue Commissioners that the estimated first and full year costs of increasing the standard rate tax income tax band to €40,000 are in the order of €710 million and €950 million respectively. The estimated yield to the Exchequer from withdrawing 20% of the personal tax credit from...

Written Answers — Department of Finance: Exports Data (26 May 2015)

Michael Noonan: I am advised by the CSO that total exports of operating leasing services was €7,822 million in 2014, €7,497m in 2013 and €7,537m in 2012. This can be found in table 2a of the balance of payments release available on the CSO's website.This amounts to 3.8 per cent of total exports (goods and services) in current prices for 2014, 4.1 per cent for 2013 and 4.1...

Written Answers — Department of Finance: Mortgage Arrears Proposals (26 May 2015)

Michael Noonan: Further to the Central Bank Residential Mortgage Arrears and Repossessions statistics in respect of quarter four 2014, I am informed by the Central Bank that the banks do not report data for statistical purposes to them in such as way as to facilitate the requested breakdown. Consequently, I am unable to provide the specific breakdown requested of accounts in arrears prior to...

Written Answers — Department of Finance: Mortgage Arrears Proposals (26 May 2015)

Michael Noonan: As you know the issue of mortgage arrears is an important issue for Government and on 13 May the Government agreed a number of new measures to support mortgage holders who are in arrears. Building on action already taken, the measures aim to increase the supports available to people in arrears and to increase the numbers of people availing of them.  With regard...

Written Answers — Department of Finance: State Banking Sector (26 May 2015)

Michael Noonan: As requested by the Deputy, details of the disposal of bank investments since 2013 are set out in the following table. Date of transaction Bank Transaction Total proceedsincluding interest/dividend January 2013 BOI Sale of convertible capital notes €1.06bn July 2013 PTSB Sale of Irish Life €1.34bn December 2013 BOI Sale/redemption of preference shares €2.05bn (incl....

Written Answers — Department of Finance: Fuel Trader's Licence (26 May 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the requirement that traders dealing in road fuels hold a licence has been in place for decades and that the requirement for a licence for traders dealing in marked mineral oil was introduced in 2012. The new licensing requirement was introduced in response to the threat posed to the exchequer and legitimate business by fuel laundering and was...

Written Answers — Department of Finance: Fiscal Policy (26 May 2015)

Michael Noonan: The President of the ECB, in a recent speech, discussed the evolution of monetary policy since the crisis and the challenges and benefits associated with the decisions made to date. This included a reference to the distributional consequences of monetary policy by penalising savers to the benefit of debtors and through asset price increases which may disproportionately favour the wealthy...