Results 8,721-8,740 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Sector (21 Jan 2015)

Michael Noonan: As the Deputy will be aware the Irish banking system is now in a much stronger position than it has been in recent years. Profits are recovering, balance sheets have been restructured and we have started the process of returning cash to the taxpayer following the huge investments that were made over the 2009-11 period. Much of the banking-related work in the Department of...

Written Answers — Department of Finance: Banking Sector (21 Jan 2015)

Michael Noonan: As the Deputy is aware, I have recently awarded a contract to Goldman Sachs International, a U.K. subsidiary of the Goldman Sachs group, to provide financial advice to the Department of Finance in relation to capital restructuring actions (and related matters) with respect to the State's investments in AIB. The purpose of awarding the contract is to engage a firm with the...

Written Answers — Department of Finance: Tax Code (21 Jan 2015)

Michael Noonan: Under Section 257 of the Taxes Consolidation Act 1997 all deposit takers are obliged to deduct Deposit Interest Retention Tax (DIRT) from payments of interest made to an account unless the account qualifies as an exempt account. There is no specific exemption in the case of interest paid on deposit accounts held by children. The wider tax code does not provide for an exemption from tax for...

Written Answers — Department of Finance: Tax Collection (21 Jan 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the procedures around corresponding with TAIN registered agents/representatives have not changed. However, the Deputy will appreciate that the process of authorising an agent to act on behalf of a taxpayer, and to receive confidential, personal information on their behalf, has to be extremely robust, so as to ensure that there is no...

Leaders' Questions (20 Jan 2015)

Michael Noonan: What about the damage of the bombs?

Written Answers — Department of Finance: Tax Collection (20 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 225 and 226 together. I am advised by Revenue that the person in question has a significant tax debt and had declined to positively engage on the issue in spite of being afforded a number of opportunities to do so. For this reason Revenue was left with no alternative but to start debt collection/enforcement proceedings against the person, which included...

Written Answers — Department of Finance: VAT Payments (20 Jan 2015)

Michael Noonan: With regard to the application of VAT on electricity bills supplied by utility companies, in accordance with section 37(1) of the Value-Added Tax Consolidation Act 2010, the amount on which VAT is chargeable is the total consideration receivable by the supplier, "including all taxes, commissions, costs and charges whatsoever", but not including the VAT itself. This reflects EU VAT law, with...

Written Answers — Department of Finance: Property Tax (20 Jan 2015)

Michael Noonan: I am advised by Revenue that the Finance (Local Property Tax) Act 2012 (as amended) sets out how residential properties are to be valued for LPT purposes. The Act provides that property valuations must be determined on a specific valuation date and Section 14(1) further provides that where there is a change of ownership between consecutive valuation dates, the chargeable value, as stated...

Written Answers — Department of Finance: Tax Collection (20 Jan 2015)

Michael Noonan: I assume that the Deputy is referring to the amount of Income Tax paid in respect of PAYE construction workers. I am informed by the Revenue Commissioners that Income Tax paid in respect of PAYE construction workers, as well as the numbers of employments for such workers, for the period 2008 to 2013, the latest year figures are available for, is shown as follows. Year Number of Employments...

Written Answers — Department of Finance: Tax Data (20 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 230 to 232, inclusive, and 235 and 236 together. In relation to Question No. 230 (Ref: 2245/15) and Question No. 231 (Ref:  2246/15), as I previously informed the Deputy in my response to Question No. 202 on 25 November last year, a Subcontractor will not generally describe him/herself as such when first registering for Income Tax with Revenue...

Written Answers — Department of Finance: Mortgage Arrears Rate (20 Jan 2015)

Michael Noonan: The Central Bank has advised that there is no such regulated category as 'sub-prime' lender but that phrase is sometimes used to refer to some non-deposit taking 'retail credit firms'. Retail credit firms are a regulated category of entities which are authorised to provide credit (in the form of cash loans) directly to individuals. Some firms authorised in this category are mortgage...

Written Answers — Department of Finance: Credit Unions Services (20 Jan 2015)

Michael Noonan: While the Government is absolutely determined to support a strengthened and growing credit union movement and has highlighted its support for the return of credit union services to Newbridge, my role as Minister for Finance is to ensure the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. In line with the Credit Union...

Written Answers — Department of Finance: Tax Credits (20 Jan 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that their records indicate that the person concerned was married in 2009 and that he has been treated as a married person for tax purposes since then. The Revenue Commissioners will write to the person concerned to clarify the position.

Written Answers — Department of Finance: Departmental Meetings (20 Jan 2015)

Michael Noonan: In response to the Deputy's question and further to my response to Parliamentary Question No. 205 of 16 December 2014, as part of the day to day operation of the Department  I meet with Senior Officials on a collective and individual basis. Such regular and ongoing meetings and discussions with my senior officials on a daily, weekly and monthly basis is an integral part of the...

Written Answers — Department of Finance: EU-IMF Programme of Support (20 Jan 2015)

Michael Noonan: There have been a number of improvements to the terms of our EU-IMF Programme loans since they were initially agreed in late 2010. These changes have included reductions of the interest rates and, in the case of the EU facilities, extensions of maturities. While not part of the EU-IMF Programme we have also negotiated the replacement of the Promissory Notes issued to the Irish Bank Resolution...

Written Answers — Department of Finance: Ministerial Advisers Remuneration (20 Jan 2015)

Michael Noonan: I wish to advise the Deputy that the total amount spent by my Department on special advisors for the past four years was €757,052. This compares to €756,333 spent by my Department on special advisors in the four years 2007 to 2010. I have 2 special advisors. In total there were 5 special advisors in the years 2011 to 2014, 2 from the previous Government and 1 of my special...

Written Answers — Department of Finance: Ministerial Transport (20 Jan 2015)

Michael Noonan: The information requested by the Deputy in respect of my Department is set out in the table below. Prior to 2011 Ministerial transport was provided by An Garda Síochána through the Department of Justice and Equality. Year 2011 2012 2013 2014 Pay €48,139.35 €71,117.00 €70,936.50 €69,636.90 Subsistence €24,015.19 €25,673.94...

Written Answers — Department of Finance: Tax Reliefs Eligibility (20 Jan 2015)

Michael Noonan: I am advised by the Revenue Commissioners that in order to qualify for relief from Vehicle Registration Tax a person must have use and possession of a vehicle for six months before transferring residence to Ireland. The individual concerned did not have possession and use of the vehicle for six months before he transferred residence to Ireland and accordingly does not qualify for the...

Written Answers — Department of Finance: VAT Rate Application (20 Jan 2015)

Michael Noonan: I am advised by the Revenue Commissioners that "smoothie" is a generic term for a range of blended products containing, among other things, fruit juices and other products derived from fruit, frozen yogurt and/or ice cream and, in some cases, chocolate and confectionery products. Paragraph 8(1) of Schedule 2 of the Value-Added Tax Consolidation Act 2010, provides for the application of...

Written Answers — Department of Finance: Tax Rebates (20 Jan 2015)

Michael Noonan: I am informed by the Revenue Commissioners that records indicate that no PAYE income tax was deducted from wages of the person concerned during 2011, 2012 and 2013. Universal Social Charge (USC) was deducted in those years. The Revenue Commissioners have arranged for PAYE Balancing Statements to issue for 2011, 2012 and 2013 and the overpayments of USC  for those years will be refunded...