Results 8,101-8,120 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Corporation Tax (3 Mar 2015)

Michael Noonan: In the first instance, this is a matter for the Northern Ireland Authorities and the Westminster Government. However it is well known that Ireland is a supporter of fair tax competition and the OECD has consistently stated that low corporation tax rates combined with a broad base is the best way to encourage economic growth, while still maintaining tax revenues. That is what we have...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (3 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the table below indicates the number of persons that availed of tax relief towards the purchase of new and used vehicles in the year 2014 under the Drivers/Passengers with Disabilities Scheme, broken down by county. County Number (new and used vehicles) in  2014 Carlow 41 Cavan 82 Clare 198 Cork 835 Donegal 261 Dublin 818...

Written Answers — Department of Finance: Universal Social Charge Application (3 Mar 2015)

Michael Noonan: The Universal Social Charge (USC) was introduced in Budget 2011. It was a necessary measure to widen the tax base, remove poverty traps and maintain revenue to reduce the budget deficit. It is a more sustainable charge than those it replaced.  It is applied at a low rate on a wide base.  I should point out that it was never intended that the USC would be a temporary...

Written Answers — Department of Finance: Mortgage Lending (3 Mar 2015)

Michael Noonan: Primary responsibility for policy on the private rental market, including the regulation of that market, is a matter from my colleague the Minister for the Environment, Community and Local Government and his Department is closely monitoring the operation of that market. It is a function of the Private Residential Tenancies Board (PRTB) to collect and publish information...

Written Answers — Department of Finance: European Financial Stability Facility (3 Mar 2015)

Michael Noonan: On 20 February 2015, the Eurogroup noted the request from the Greek authorities for an extension of the second programme in order to allow the successful completion of the fifth review. The Greek authorities agreed to present a first list of reform measures, based on the current arrangement, by 23 February, which they have done.  The Institutions have...

Written Answers — Department of Finance: Tax Code (3 Mar 2015)

Michael Noonan: Last year, the Competition Directorate of the European Commission opened formal state aid investigations into tax rulings provided to a number of companies in various Member States of the European Union.  In the case of Ireland, the company concerned was Apple. The investigations are part of a much wider review of tax ruling practices that is currently being undertaken by the European...

Written Answers — Department of Finance: Tax Avoidance Issues (3 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 198 to 201, inclusive, together. I am advised by the Revenue Commissioners that, in March 2010, they became aware of newspaper reports that the French authorities had come into possession of information in relation to bank accounts held with HSBC Bank, Geneva. Revenue wrote to the French authorities enquiring as to whether the data obtained by them...

Written Answers — Department of Finance: Tax Code (3 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 202 and 203 together. I am advised by the Revenue Commissioners that in the absence of specific details relating to the individuals concerned, they are unable to provide the information sought by the Deputy, as individual circumstances may differ and different considerations may apply in respect of different cases. If the Deputy wishes to contact Mr....

Written Answers — Department of Finance: Betting Legislation (3 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 204 and 205 together. The Betting (Amendment) Bill 2013 provides for the extension of the regulatory regime to all bookmakers and betting exchanges offering services in Ireland.  The new regime will allow for the extension of Betting Duty to the remote sector and ensure that all businesses offering betting services from Ireland or to persons...

Written Answers — Department of Finance: Tax Code (3 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a wide range of statistical information is now available on their new, enhanced, statistics webpage at . Tax credits, the standard rate cut off point and the age exemptions amounts are published in Revenue's Statistical Reports, available here , in the "Income Tax" chapter for each year up to 2012. As regards the years 2013  to 2015...

Written Answers — Department of Finance: Tax Code (3 Mar 2015)

Michael Noonan: The treatment of maintenance payments for taxation purposes depends on the arrangements in place regarding the payment of the maintenance and also the basis of assessment which is applicable to the couple making the payments.  In order to determine if the maintenance is taxable it must be established if the maintenance relates to payments that are legally enforceable or if the payments...

Written Answers — Department of Finance: Property Tax Assessments (3 Mar 2015)

Michael Noonan: In designing the Local Property Tax (LPT), due regard was given to issues such as ability to pay. The Finance (Local Property Tax) Act 2012, as amended, provides for the possibility of deferring the charge to LPT in certain circumstances to assist individuals who may have difficulty paying the tax.  To qualify for a deferral, the residential property must be occupied as a sole or main...

Written Answers — Department of Finance: Living City Initiative (3 Mar 2015)

Michael Noonan: Officials from my Department are in discussions with the relevant local authorities to identify the areas of the six cities, Cork, Dublin, Galway, Kilkenny, Limerick and Waterford, which might fall within the scope of the scheme, and to discuss the processes around the administration of the scheme. The Initiative will target certain areas of these six cities, particularly those areas which...

Written Answers — Department of Finance: Tax Credits (3 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the spouse of the person concerned is in receipt of a Carer's Allowance from the Department of Social Protection and so the person concerned qualifies for the Home Carer's Tax Credit. The granting of this credit has the effect of reducing the Standard Rate Cut-Off Point by the amount of the carer s income. In this particular case, it is more...

Written Answers — Department of Finance: Tax Rebates (3 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they do not have sufficient information in relation to the earnings of the person concerned to review his tax liability for 2014. They have contacted the person concerned requesting certain information to allow them to undertake the review. Maintenance payments are allowed as a deduction for Income Tax purposes subject to certain conditions as...

Written Answers — Department of Finance: Tax Reliefs Cost (3 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 212 and 213 together. I am informed by the Revenue Commissioners that the amount of gross domestic rental income declared on Income Tax returns for 2012 was €4.0bn. Deductions and reliefs in respect of losses, expenses and capital allowances are allowable from gross rental income and the taxable rental income for 2012 was in the order of...

Written Answers — Department of Finance: Tax Code (3 Mar 2015)

Michael Noonan: I assume the Deputy's question refers to Irish emigrants, who may be subject to lower income taxation in the countries in which they are now located and presumably working, compared to the amount of income taxation they would face on the same income if they returned to Ireland. My initial view is that the provision of a tax reduction to such individuals could...

Written Answers — Department of Finance: Fiscal Policy (3 Mar 2015)

Michael Noonan: Once Ireland reduces the headline deficit below 3% of GDP we will be subject to the requirements of the preventive arm of the Stability and Growth Pact ('the Pact'). Unlike the corrective arm of the Pact which sets annual headline interim targets for the deficit each year until the excessive deficit procedure is lifted, the preventive arm does not prescribe a path for the headline...

Written Answers — Department of Finance: Budget Targets (3 Mar 2015)

Michael Noonan: As a member of the European Union, Ireland is subject to the requirements set out in the Stability and Growth Pact (SGP). One of these is that, until the headline deficit is reduced below 3% of GDP we will remain subject to the corrective arm of the SGP. From 2016, onwards we will transit to the preventive arm of the Pact, whereby the rules require Member States to adjust...

Written Answers — Department of Finance: Mortgage Arrears Rate (3 Mar 2015)

Michael Noonan: I am informed by the Central Bank of Ireland (CBI) that the figures in Figure 11 of the report, published on Wednesday 25 February, comes from the Central Bank's loan level data (LLD). The Figure outlines the percentage of loans that were in default by county in June 2014 from the Central Bank LLD. This dataset provides information from a limited number of banks and as such does...