Results 8,821-8,840 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Legislative Process (14 Jan 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...

Written Answers — Department of Finance: Legislative Process (14 Jan 2015)

Michael Noonan: A total of nine bills have been initiated by the Department of Finance since September 2013. The table below provides details of the number, name and date initiated of each Bill. Number of Bill Name of Bill Date initiated 102 of 2013 Finance (No. 2) Bill 2013 24 October 2013 27 of 2014 Central Bank Bill 2014 7 April 2014 44 of 2014 National Treasury Management Agency (Amendment) Bill...

Written Answers — Department of Finance: Tax Rebates (18 Dec 2014)

Michael Noonan: I am informed by the Revenue Commissioners that PAYE Balancing Statements (P21s) for the years 2013 and 2014 were processed on 16 December 2014.  These Balancing Statements will issue to the person concerned shortly. Refunds of tax and USC arising will issue in the near future in respect of both years.

Written Answers — Department of Finance: VAT Rate Application (18 Dec 2014)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. In this regard, the rate of VAT that applies to a particular good or service is determined by the nature of the good or service, and not by the status of the customer. Children's clothing and footwear are subject to the zero rate for children up to and including 11 years....

Written Answers — Department of Finance: Tax Code (18 Dec 2014)

Michael Noonan: Under the Tax Code there is an obligation placed on the person making a payment to register for tax where either the payment is made in the capacity of an employer (Regulation 7 of the Income Tax (Employments) (Consolidation) Regulations 2001 or in the capacity of a principal contractor (Section 530J Taxes Consolidation Act 1997). There is, of course, a separate requirement placed on...

Written Answers — Department of Finance: Living City Initiative (18 Dec 2014)

Michael Noonan: The Deputy will be aware that I announced in my Budget Statement that the Living City Initiative, which was enacted in the Finance Act 2013, would be extended to now include the cities of Dublin, Cork, Galway and Kilkenny as well the original target cities of Limerick and Waterford. The inclusion of these four cities within the Initiative followed the results of a thorough independent ex ante...

Written Answers — Department of Finance: Tax and Social Welfare Codes (18 Dec 2014)

Michael Noonan: It is assumed that the illustrative examples to which the Deputy refers are those included in the published Budget 2015 documentation. These illustrative cases were designed to model a range of typical scenarios to show the effects of the changes to Income Tax, USC and Child Benefit announced on Budget Day. Although not exhaustive, they are accompanied by a series of tables setting out a...

Written Answers — Department of Finance: Credit Availability (18 Dec 2014)

Michael Noonan: The Government recognises that small businesses play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy since 2011 has been focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. As the Deputy is aware, the Government imposed SME lending targets on...

Written Answers — Department of Finance: Tax Code (18 Dec 2014)

Michael Noonan: It is assumed the Deputy is referring to the introduction of a new third rate of Income Tax on incomes over €100,000. 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 a rate could be integrated into the current system and how this would affect the relative position of different types of...

Written Answers — Department of Finance: Income Data (18 Dec 2014)

Michael Noonan: I am advised that the Revenue Commissioners have proactively reviewed both the content and dissemination methods for their publication of statistical information. They are now providing their most relevant and sought after information in new and more accessible formats on a Statistics webpage:  . Whereas previously information was provided by way of static tables in documents, Revenue is...

Written Answers — Department of Finance: National Debt (18 Dec 2014)

Michael Noonan: The bilateral loan to Ireland from the United Kingdom as set out in a loan agreement dated 22 December 2010, as Amended and Restated pursuant to the Amendment Agreement dated 4 October 2012, is for a total of £3,226,960,000.00. The full amount of the UK Bilateral Loan has been drawn down. The loan was drawn down in eight tranches, following the successful completion of the relevant...

Written Answers — Department of Finance: National Debt (18 Dec 2014)

Michael Noonan: There is no proposal to make an early repayment of any of our bilateral loans from the United Kingdom, the Kingdom of Sweden and the Kingdom of Denmark and the issue of seeking a waiver in this respect does not therefore arise.

Written Answers — Department of Finance: National Debt (18 Dec 2014)

Michael Noonan: The bilateral loan to Ireland from the United Kingdom as set out in a loan agreement dated 22 December 2010, as Amended and Restated pursuant to the Amendment Agreement dated 4 October 2012, is for a total of £3,226,960,000.00. The full amount under the UK Bilateral Loan has been drawn down, with the last of eight tranches being disbursed on 26 September 2013. The first repayment of...

Written Answers — Department of Finance: Mortgage Interest Relief Eligibility (18 Dec 2014)

Michael Noonan: This question relates to the interest restriction applying to residential lettings, whereby the deductibility of interest in computing taxable rental income from residential property (insofar as it would otherwise be allowable) is limited to 75% of such interest. The restriction was introduced in the April 2009 supplementary budget in respect of all residential lettings as part of an urgent...

Written Answers — Department of Finance: Universal Social Charge Exemptions (18 Dec 2014)

Michael Noonan: The Universal Social Charge (USC) was introduced by the Finance Act 2011 and is charged for the tax year 2011 and subsequent years.  USC is charged on an individual's aggregate income for a tax year, which may include income from letting property. There was no change to the treatment of rental income for USC purposes in either Budget 2013 or Budget 2014.  As...

Written Answers — Department of Finance: Bank Charges (18 Dec 2014)

Michael Noonan: While credit institutions in Ireland are independent commercial entities and I have no statutory role in relation to the charges applied by credit institutions, section 149 of the Consumer Credit Act 1995 requires that credit institutions, prescribed credit institutions and bureaux de change must make a submission to the Central Bank if they wish to introduce any new...

Written Answers — Department of Finance: IMF Loan Issues (18 Dec 2014)

Michael Noonan: The early repayment of up to €18.3 billion of our loans from the International Monetary Fund (IMF) is being structured to ensure that IMF post programme monitoring continues for the initially envisaged period, i.e. up to mid-2021.  It is normal for a member country to engage in post-program monitoring with the IMF after its programme has ended as long as its outstanding loan...

Written Answers — Department of Finance: Departmental Programmes (18 Dec 2014)

Michael Noonan: My Department remains focused on maintaining the reform momentum necessary to achieve the goals of creating more jobs, enhancing living standards and, ultimately, achieving full employment as set out in the Government's Statement of Government Priorities 2014-2016. This statement prioritises the actions needed to build on the economic recovery that is already under way to...

Written Answers — Department of Finance: Property Taxation Exemptions (18 Dec 2014)

Michael Noonan: I am advised by Revenue that the Finance (Local Property Tax) Act 2012 (as amended) ('the Act') makes provision for a number of exemptions from Local Property Tax (LPT). Section 10(2) of the Finance (Local Property Tax) Act 2012, as amended, provides that a residential property shall not be liable to Local Property Tax (LPT) where it is situated in an unfinished housing estate, where such...

Written Answers — Department of Finance: National Pensions Reserve Fund Investments (18 Dec 2014)

Michael Noonan: The National Pensions Reserve Fund, which will shortly to become the Ireland Strategic Investment Fund, has advised that it has not made any investment in, or commitment to, the company (details supplied).