Results 7,881-7,900 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Tax Administration (31 Mar 2015)

Michael Noonan: I am advised by Revenue that deductions at source from Department of Social Protection (DSP) payments in respect of Local Property Tax (LPT) liabilities must not have the effect of reducing a property owner's weekly payment below the minimum rate of €186. The €186 per week minimum amount is enshrined in social welfare legislation and it was considered appropriate at the time...

Written Answers — Department of Finance: Home Repossession Rate (31 Mar 2015)

Michael Noonan: I am informed by the Central Bank that 'Court Proceedings issued' means that a formal application has been made to a Court to begin repossession proceedings or that Court proceedings are currently ongoing. Cases counted under this heading include: - cases where an application has been made to Court but a Court date has not yet been received; - cases where Court proceedings have issued but...

Written Answers — Department of Finance: Home Repossession Rate (31 Mar 2015)

Michael Noonan: The Central Bank of Ireland Residential Mortgage Arrears and Repossessions Statistics over the course of the four quarters of 2014 reported that proceedings were issued to enforce the debt/security on a PDH mortgage in 11,424 cases in the year. This includes: - cases where an application has been made to Court but a Court date has not yet been received; - cases where Court...

Written Answers — Department of Finance: Credit Card Interest Rates (31 Mar 2015)

Michael Noonan: The Central Bank has advised me that it does not have a role in interest rate control.  Standard interest rates on credit cards are not subject to Section 149 of the Consumer Credit Act, 1995 and so are not notifiable to the Bank.  These interest rates are not regulated by the Central Bank and as such, a regulated entity may determine the rate it charges its customers in line...

Written Answers — Department of Finance: Credit Card Interest Rates (31 Mar 2015)

Michael Noonan: I, as Minister for Finance have no role with regard to interest rates charged by licensed credit card companies. The Central Bank has informed me that they do not publish the information requested by the Deputy.  However, the Competition and Consumer Protection Commission has available comparison information on credit card interest rate on their website at ....

Written Answers — Department of Finance: Tax Agreements (26 Mar 2015)

Michael Noonan: While Ireland is participating constructively in the discussions on the Common Consolidated Corporate Tax Base draft directive (CCCTB), no consensus has yet been reached by Member States on this proposal.    We are committed to an active engagement on this tax dossier and on other discussions being undertaken at EU level to tackle tax fraud, tax evasion and aggressive tax...

Written Answers — Department of Finance: Tax Exemptions (26 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that where an individual or their spouse/civil partner is aged over 65 and their income does not exceed the appropriate exemption limit, their deposit interest earnings are exempt from appropriate tax as provided for in sections 256 to 267 of the Taxes Consolidation Act 1997 and commonly referred to as Deposit Interest Retention Tax (DIRT). In April...

Written Answers — Department of Finance: Tote Licences (26 Mar 2015)

Michael Noonan: The tote was established under the Totalisator Act 1929 and  to date Bord Na gCon and Horse Racing Ireland (or their predecessors) are the only bodies licensed to operate a tote. The primary purpose of this arrangement is to fund the horse and greyhound racing industry in Ireland. The licence for Bord na gCon was renewed for a period of 5 years which commenced on 24 October 2013 and...

Written Answers — Department of Finance: Credit Unions Regulation (26 Mar 2015)

Michael Noonan: The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. My role as Minister for Finance is to ensure that the legal...

Written Answers — Department of Finance: Departmental Investigations (26 Mar 2015)

Michael Noonan: As advised by the Revenue Commissioners in January, there is currently no official EU VAT register and only national tax administrations have the right to issue a VAT number. Any unsolicited correspondence received from unknown or suspicious sources in relation to VAT registration numbers should be brought to the attention of the Revenue Commissioners. The Revenue Commissioners advise that if...

Written Answers — Department of Finance: Tax Exemptions (26 Mar 2015)

Michael Noonan: As the Deputy is aware, the One-Parent Family Tax Credit (OPFTC) has been replaced with the Single Person Child Carer Credit from 1 January 2014.However, the reformed credit is more targeted in that it is, in the first instance, only available to the primary carer of the child. Given the difficult fiscal environment, it is essential to review all tax reliefs, credits and incentives in order...

Written Answers — Department of Finance: VAT Rate Reductions (26 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners information on estimated costs of VAT rate changes can be found in the post-Budget 2015 Ready Reckoner: . While the Ready Reckoner does not show all of the specific costings requested by the Deputy, other changes can be estimated broadly on a pro-rata basis with those displayed in the Reckoner. The cost of lowering the 23% VAT rate by 1% is estimated...

Written Answers — Department of Finance: Tax Data (26 Mar 2015)

Michael Noonan: It is assumed that the threshold for the 48% Income Tax rate proposed by the Deputy, would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents, married couples and civil partnerships. I am advised by the Revenue Commissioners that, given the current band structures, major issues would need to be resolved as to how, in practice, such...

Written Answers — Department of Finance: Legislative Process (26 Mar 2015)

Michael Noonan: Following changes to Standing Orders (agreed by the Dáil on 17 October 2013), Ministers are now required, except in exceptional circumstances, to bring the general scheme or draft heads of a Bill to a Select Committee for consideration. Committees are empowered to consider the draft Heads of Bills but they are not required to do soit is the Committee's prerogative to decide on a case by...

Written Answers — Department of Finance: Tax Exemptions (26 Mar 2015)

Michael Noonan: I take it that the Deputy is referring to the fuel grant I am introducing to replace the excise relief element of the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme that was revoked at the end of 2014. In April 2013 the Court of Justice of the European Union ruled that the excise relief element of the Disabled Drivers and Disabled Passengers...

Written Answers — Department of Finance: Banking Operations (26 Mar 2015)

Michael Noonan: It is a matter of good commercial practice that any firm should know its customers.  It is particularly important that a financial institution confirms the identity of their customers because financial institutions often undertake high value transactions on behalf of their customers. In addition, EU directives require that  financial institutions ascertain the identities...

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

Michael Noonan: As the Deputy is aware, as part of our broader efforts to encourage investment in Ireland in the wake of the financial crisis, stakeholders across the Irish system, including the banks, NAMA, IBRC, the IDA, the NTMA as well as my officials and myself, meet with parties interested in investing in Ireland. This has included meetings with representatives of investment funds and...

Written Answers — Department of Finance: Tax Code (26 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 77 and 93 together. The following table sets out the net yield from Deposit Interest Retention Tax (DIRT) collected from 2011 to 2014. Year €million 2011 473.3 2012 580.6 2013 499.5 2014 (provisional) 436.7 I am informed by the Revenue Commissioners that DIRT on interest bearing deposits is declared and paid on a four-times yearly basis by...

Written Answers — Department of Finance: Revenue Documents (26 Mar 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that the numbers to which the Deputy refers  are different because different methods were used by them to compile the figures.  The figures in the reply to Parliamentary Question No. 91 of 12 January 2012, are based on the number of Inland Revenue Affidavits filed in a year, and were based on historical manual records of Capital...

Written Answers — Department of Finance: Credit Unions (26 Mar 2015)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual...