Results 8,941-8,960 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (16 Dec 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the legislation governing the operation of Deposit Interest Retention Tax (DIRT) is set out in Chapters 4 and 5 of Part 8 of the Taxes Consolidation Act 1997 (the Act). Under Section 257 of the Act all deposit takers are obliged to deduct Deposit Interest Retention Tax (DIRT) from payments of interest made to an account unless the account...

Written Answers — Department of Finance: IBRC Liquidation (16 Dec 2014)

Michael Noonan: The Special Liquidators continue to implement the orderly and efficient winddown of Irish Bank Resolution Corporation Limited (in Special Liquidation) ( IBRC ) in accordance with the provisions of the IBRC Act and the instructions issued by the Minister for Finance under the IBRC Act 2013. As the Deputy is aware, for operational reasons, the loan assets of IBRC were divided into six...

Written Answers — Department of Finance: IBRC Liquidation (16 Dec 2014)

Michael Noonan: The Special Liquidators continue to implement the orderly and efficient wind down of Irish Bank Resolution Corporation Limited (in Special Liquidation) in accordance with the provisions of the IBRC Act and the instructions issued by me under the IBRC Act . In April 2014, the Special Liquidators announced that the loan sales process had concluded. The sales process of the IBRC loan assets,...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (16 Dec 2014)

Michael Noonan: Currently, the effect of Section 92(1)(a)(ii) of Finance Act 1989 is such that where a passenger with a disability purchases a vehicle and seeks the repayment or the remission of Vehicle Registration Tax and VAT as part of the Disabled Drivers and Passengers (Tax Concessions) Scheme the cost of the adaptation must consist of not...

Written Answers — Department of Finance: Government Bonds (16 Dec 2014)

Michael Noonan: In a press release from February of this year to mark the release of its Annual Accounts for 2013, the ECB announced that its nominal holding of Irish Government bonds under the Securities Market Programme (SMP) was €9.7 billion at end-2013.

Written Answers — Department of Finance: Government Bonds (16 Dec 2014)

Michael Noonan: The Central Bank has advised that it is an independent entity and that it does not report on its individual investment holdings. It does report, however, on an annual basis only, on its holdings of Government bonds in its Special Portfolio, that being the portfolio of assets acquired after the resolution of IBRC and the exchange of government bonds for the promissory note held by the...

Written Answers — Department of Finance: Wards of Court (16 Dec 2014)

Michael Noonan: I am advised that jurisdiction in Wards of Court matters is vested in the High Court. The Courts are, subject only to the Constitution and the law, independent in the exercise of their judicial functions and, therefore, it is not open to me as a Minister to comment in any way. I understand that the Assisted Decision-Making (Capacity) Bill 2013 proposes to replace the Wards of Court system...

Written Answers — Department of Finance: An Fhoireann Rannach (16 Dec 2014)

Michael Noonan: The Department is aware of its obligations under Section 11 of the Official Languages Act 2003. This Department has set out its obligations as part of our Irish Languages Scheme 2014-2017. Generally the Department does not provide services directly to the public but where there is a need for translation and Divisions do not have a member of staff proficient in Irish, or where such a person...

Written Answers — Department of Finance: Tax Reliefs Eligibility (16 Dec 2014)

Michael Noonan: The Finance Bill 2014 contains a number of farm taxation measures that arose from the recommendations in the Agri-taxation Review Report. In relation to stamp duty, two specific measures are included: The extension of stamp duty relief for non-residential land transfers between certain close relatives generally referred to as consanguinity relief. The relief will continue, in relation to...

Written Answers — Department of Finance: Tax Credits (16 Dec 2014)

Michael Noonan: I am advised by the Revenue Commissioners that, in order to determine if additional tax credits, reliefs and entitlements are due, it will be necessary to review the joint tax liabilities of the persons concerned for the years 2013 and 2014. Revenue has written to the person concerned (the assessable spouse) and Form P60 2014 together with other supporting documentation has been requested....

Written Answers — Department of Finance: Alcohol Sales (16 Dec 2014)

Michael Noonan: I am advised by the Revenue Commissioners that a wholesaler or cash and carry must hold the appropriate licence in order to deal in the sale of alcohol.  Provided the wholesaler or cash and carry has the appropriate licence to sell alcohol and provided the alcohol is sold duty paid, the wholesaler or cash and carry may deliver alcoholic products outside of its own licenced premises to...

Written Answers — Department of Finance: Tax Code (16 Dec 2014)

Michael Noonan: Capital Acquisitions Tax (CAT) and various elements thereof, e.g. thresholds, will, like all other taxes be kept under review, particularly in the context of preparations for Budget 2016 and the consequent Finance Bill.

Written Answers — Department of Finance: Banking Sector Remuneration (16 Dec 2014)

Michael Noonan: The Capital Requirements Directive IV (CRD IV), came into effect in March of this year. The remuneration provisions contained in CRD IV seek to ensure that credit institutions and investment firms across the EU have sound remuneration policies, which reflect effective risk management and performance, without encouraging unjustified risk taking.  The European Union (Capital...

Written Answers — Department of Finance: VAT Exemptions (11 Dec 2014)

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. Non-profit...

Written Answers — Department of Finance: Tax Data (11 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 58 and 59 together. At the outset I should point out that the Revenue Commissioners do not issue commencement of employment notices.  They do however issue a Tax Credit Certificate to an employer to facilitate the correct operation of PAYE and USC, where they have been notified of a new employment. I am advised by the Revenue Commissioners that the...

Written Answers — Department of Finance: VAT Exemptions (11 Dec 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the VAT rating of goods and services is constrained by the requirements of EU VAT law with which Irish VAT law must comply. Iontophoresis devices, are liable to VAT at the standard rate, currently 23%. There is no provision in VAT law that would make it possible to apply an exemption or a zero rate to the supply of such products.  Under...

Written Answers — Department of Finance: Pensions Levy (11 Dec 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the pension fund levy applies to the market value, on the valuation date (generally 30 June each year) of assets under management in pension funds and pension plans approved under Irish Tax legislation. The person responsible for payment of the levy is the "chargeable person" as defined in the legislation. The chargeable person, as respects...

Written Answers — Department of Finance: Insurance Costs (11 Dec 2014)

Michael Noonan: In my role as Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland, as regulator, interfere in the pricing of insurance products.  The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (11 Dec 2014)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, repayment of excise duty on fuel, and an exemption from Motor Tax. To qualify for the Scheme, an applicant must have a permanent and severe...

Written Answers — Department of Finance: Tax Yield (11 Dec 2014)

Michael Noonan: I am informed by the Revenue Commissioners that Deposit Interest Retention Tax (DIRT) on interest bearing deposits is returned on a four-times yearly basis by financial institutions: in April, July and October of the tax year in question and in the following January. Returns for each year are due by 15 January of the following year and the total value of DIRT due and paid is reported to...