Results 8,441-8,460 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Pension Provisions (10 Feb 2015)

Michael Noonan: I assume the Deputy is referring to the significant changes announced in Budget 2014 and provided for in Finance (No 2) Act 2013 to the maximum allowable pension fund at retirement for tax purposes (the Standard Fund ThresholdSFT). The main changes made can be summarized as follows:- Firstly, the absolute value of the SFT was reduced, with effect from 1 January 2014, from €2.3...

Written Answers — Department of Finance: Debt Conference (10 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 216 and 221 together. My view is that when countries encounter difficulties, a process of negotiation is always better than one of conflict. Specifically in the case of euro area Member States, all programme negotiations have been conducted within the Eurogroup and Ecofin, with IMF involvement as appropriate.  My view is that these are...

Written Answers — Department of Finance: VAT Rate Application (10 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the information furnished on VAT returns does not require the yield from particular activities or sectors of trade to be identified. The amount of VAT collected in respect of public service obligation levies cannot be identified in the overall yield of VAT. I am further advised by the Revenue Commissioners that VAT is an EU-wide tax and Irish...

Written Answers — Department of Finance: Property Tax Exemptions (10 Feb 2015)

Michael Noonan: The exemption from Local Property Tax (LPT) based on "significant pyritic damage" was comprehensively dealt with in a number of Parliamentary Questions last year, including Questions no. 217 (8212/14) on 18/2/14, no. 121 (19698/14) on 30/4/14, no. 43 (26462/14) on 19/6/14, no. 14 (37016/14) on 2/10/14 and no. 38 (41718/14) on 5/11/2014. Section 10A of the Finance (Local Property Tax) Act...

Written Answers — Department of Finance: Universal Social Charge Application (10 Feb 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that details of the 2015 tax credits and of the reduced rates of Universal Social Charge payable were issued to the person's pension provider in December2014.

Written Answers — Department of Finance: Mortgage Lending (10 Feb 2015)

Michael Noonan: I wish to advise the Deputy that the Governor of the Central Bank of Ireland has signed the macro prudential regulations on residential mortgage lending.  The signed regulations were received by my Department yesterday (9 February) and will, as soon as possible, be laid before the Houses of the Oireachtas.

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (10 Feb 2015)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) will be operational in Q1 2015 and this is a key deliverable as detailed in the Government's Action Plan for Jobs 2015. I incorporated the SBCI in September 2014 and since then the SBCI has made considerable progress in building relations with lending partners and in constructing the complex operational capability...

Written Answers — Department of Finance: VAT Exemptions (10 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that a business providing services, including a musician, is obliged to register for VAT only where the annual turnover of that business exceeds €37,500.  In instances where the annual turnover of a business is less than that, there is no obligation to register for VAT.  I am further informed that given the wide variety of persons...

Written Answers — Department of Finance: European Central Bank Interest Rates (10 Feb 2015)

Michael Noonan: Firstly, I must confirm to the Deputy that the lending institutions in Ireland - including those in which the State has a shareholding - are independent commercial entities. I have no statutory role in relation to regulated financial institutions passing on the European Central Bank interest rate change or in relation to the mortgage interest rates charged.  It is a...

Written Answers — Department of Finance: Tax Code (10 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 225 and 227 together. 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...

Written Answers — Department of Finance: Tax Credits (10 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that a certificate of tax credits issued to the person concerned on 28 January 2015, which incorrectly included a deduction from the tax credits entitlement.  This error was immediately rectified and a new certificate issued on 30 January 2015 restoring the person's full entitlement of tax credits.  The person concerned has been in direct...

Written Answers — Department of Finance: National Debt (10 Feb 2015)

Michael Noonan: The data for 36 of the 45 years requested by the Deputy is in included in the table following. Unfortunately, it was not possible to collate all the information required for this answer in the time allowed. Audited data for 2014 will not be available until after the Office of the Comptroller and Auditor General completes the audit of the public finances and the Finance Accounts are...

Written Answers — Department of Finance: Property Tax (10 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that Section 11 of the Finance Local Property Tax Act 2012 (as amended) sets out the rules for determining the person who is liable for the payment of Local Property Tax (LPT) in relation to a property. Generally, the owner of the property, with the right of immediate possession, is deemed the person liable for LPT. However if a person, other...

Written Answers — Department of Finance: Tax Code (10 Feb 2015)

Michael Noonan: A fair, efficient and competitive income tax system is essential for economic growth and job creation. While the figures quoted by the Deputy are accurate, it is important to understand that PAYE workers and the self-employed are taxed in different ways to reflect their differing circumstances. As the Deputy is aware, employees in the PAYE system benefit from a PAYE income tax...

Written Answers — Department of Finance: Health Insurance (10 Feb 2015)

Michael Noonan: I can assure the Deputy I am fully aware of the provisions in the Health Insurance (Amendment) Act 2014, relating to premiums for young adults, which are due to come into effect on 1 May 2015. The Deputy will be aware that tax law follows general law and that the Health Insurance (Amendment) Act 2014, was signed into law on 25 December 2014, at which stage the...

Written Answers — Department of Finance: NAMA Investigations (10 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 232 to 234, inclusive, together. I am advised by NAMA that it carries out asset searches in certain circumstances with a view to compiling full information on a debtor's assets and liabilities and to maximising recovery for taxpayers on any assets that debtors may have failed to disclose in their Statement of Affairs to the Agency. NAMA operates a Credit...

Written Answers — Department of Finance: Tax Code (10 Feb 2015)

Michael Noonan: I have been informed by the Revenue Commissioners that the person concerned is taxed as a married person on the basis of information provided to them by the person concerned. I am advised by Revenue that they have now written to the person concerned to confirm her status and if necessary will review her tax liability, as appropriate, in the light of any change in circumstances confirmed to them.

Written Answers — Department of Finance: VAT Exemptions (10 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that VAT is a tax on consumption and is applied to supplies being made by a person and not to supplies received by them.  In this context, it is not possible under EU VAT law, with which Irish VAT law must comply, to introduce VAT exemption based on services received, nor to introduce an exemption based on the recipient of a service. ...

Written Answers — Department of Finance: VAT Payments (10 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 237 and 238 together. I am informed by the Revenue Commissioners that the total yield of domestic VAT revenue attributed to the construction industry as a whole in 2013, which is the latest year for which the necessary detailed data are available, is estimated to be of the order of €72 million. It should be noted that this receipt figure is net of...

Written Answers — Department of Finance: Central Bank of Ireland (10 Feb 2015)

Michael Noonan: The Central Bank of Ireland has now announced the details of its new macro prudential regulations for residential mortgage lending. These provide for the following measures;- Principal dwelling house (PDH) mortgages are subject to a Loan to Value (LTV) limit of 80% of the value of the property; - For first time buyers,  the LTV limit in respect of a PDH mortgage is 90% up to a value...