Results 9,101-9,120 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Exemptions (2 Dec 2014)

Michael Noonan: The information regarding the annual cost and numbers availing of the Artists' Exemption is set out in the table for the years 2005 to 2012, the most recent figures available. The fall in the cost of the exemption in recent years reflects both the introduction of an annual cap of €40,000 on the exemption since 2010 and the impact of the economic downturn on the incomes...

Written Answers — Department of Finance: Pension Provisions (2 Dec 2014)

Michael Noonan: Approved Retired Funds (ARFs) form part of the regime of flexible options on retirement first introduced in 1999. They are investment options into which the proceeds of certain pension arrangements can be invested on retirement. Under the "ARF option" individuals are entitled, subject to conditions, to take their retirement lump sum and, with the balance of their pension fund, either...

Written Answers — Department of Finance: VAT Exemptions (2 Dec 2014)

Michael Noonan: I would first of all say that I have not received any requests or proposal in relation to the VAT treatment of the Band Aid charity single. In Ireland charities are exempt from VAT, which means they do not have to charge VAT on the goods or services they supply, such as CDs, but in addition they cannot claim back the VAT charged on the costs associated with their charitable business. In...

Written Answers — Department of Finance: Banking Sector Investigations (2 Dec 2014)

Michael Noonan: I am aware of a number of reports that have been produced by third parties in relation to matters arising from the banking crisis which remain unpublished at this time including those produced by McCann Fitzgerald and Ernst and Young in relation to governance matters in INBS.  I have been advised that given the on-going nature of the investigations by the...

Written Answers — Department of Finance: Alcohol Sales Legislation (2 Dec 2014)

Michael Noonan: I am advised by the Revenue Commissioners that section 43 and Schedule 1 of Finance (1909-10) Act 1910 provides for liquor licences and Section 59 and Schedule 2 of the Finance (No. 2) Act 2008 provide for the current rates of excise duty payable on these licences.  The 1910 Act provides for five types of retailer off-licence, i.e. spirits, wine, beer, cider and 'sweets'. The latter...

Written Answers — Department of Finance: Corporation Tax (2 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 181 to 184, inclusive, together. I am advised by the Revenue Commissioners that the information requested by the Deputy in relation to the amount of Corporation Tax collected by the State is published on the Commissioners' Statistics website lunder "Revenue Net Receipts by Taxhead on an Annual Basis". Sectoral analysis of these receipts, in so far as they...

Written Answers — Department of Finance: Corporation Tax (2 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 185 to 188, inclusive, together. It is assumed the Deputy is referring to the cost to the Exchequer of the main tax reliefs available to companies. The following table shows the estimated cost, on a straight line arithmetic basis, of - Section 766 Research and Development Credit; - Section 486C 3 year Start up Relief; - Section 291A Intangible Asset...

Written Answers — Department of Finance: Corporation Tax (2 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 189 and 190 together. I would like to point the Deputy to a paper published on the website of the Department of Finance titled Effective Rates of Corporation Tax in Ireland: Technical Paper, April 2014, which comprehensively reviews the different methodologies that are used to calculate the effective rate of tax, and may be viewed at the following link: As...

Written Answers — Department of Finance: Exports Data (2 Dec 2014)

Michael Noonan: The issue of 'contracted production' and its impact on the Irish national accounts has recently gained some public comment. This phenomenon has been under observation for some time by staff of my Department. Indeed, the Economic and Fiscal Outlook that accompanied Budget 2015 contained a box on the issue to which the Deputy may wish to refer if he...

Written Answers — Department of Finance: EU Budget Contribution (2 Dec 2014)

Michael Noonan: Ireland's contribution to the EU Budget is an obligation of EU membership and is a charge on the Central Fund. The contribution formula for the EU Budget is comprised of Traditional Own Resources (customs duties), a VAT-based payment and a residual balancing component paid in accordance with each Member State's (MS) share of EU Gross National Income (GNI). Annually, a technical...

Written Answers — Department of Finance: Tax Credits (2 Dec 2014)

Michael Noonan: Tax relief is not available to parents in respect of crèche fees or childcare costs. However, I would like to assure the Deputy that the Government acknowledges the continuing cost pressures on parents, particularly those with young children. In recognition of these cost pressures, a number of support measures are in place to ease the burden on working parents. These...

Written Answers — Department of Finance: VAT Rate Application (2 Dec 2014)

Michael Noonan: VAT is guided by EU VAT law, with which Irish VAT law must comply. The EU VAT Directive generally provides that supplies of goods and services be chargeable to VAT at the standard rate but that lower rates are permitted in very limited circumstances. Food products can only benefit from the zero rating in accordance with Article 110 of the VAT Directive which permits the retention of the...

Written Answers — Department of Finance: VAT Rebates (2 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 vehicle for transport of a person with specific severe and permanent physical disabilities, repayment of excise duty on fuel, and an exemption from motor tax. While the Scheme provides for the repayment of excise duty on fuel...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Funding (2 Dec 2014)

Michael Noonan: As the Deputy will be aware, a milestone in the establishment of the Strategic Banking Corporation of Ireland (SBCI) was marked at a signing ceremony at Farmleigh House on Friday, 31st October attended by the German Minister for Finance, Mr. Schäuble, the Minister for Public Expenditure and Reform, Brendan Howlin T.D., President Hoyer of the EIB and Dr. Schröder of KfW and myself...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Remit (2 Dec 2014)

Michael Noonan: As the Deputy will be aware, Section 8 of the Strategic Banking Corporation of Ireland (SBCI) Act 2014 mandates the SBCI to design credit facilities that meet the needs of SMEs. The SBCI will take account of market conditions for SME financing as part of its operations. If SMEs are having difficulty in particular sectors, the SBCI is mandated to design products which address any such...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Expenditure (2 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 198 to 200, inclusive, and 202 together. As the Deputy will be aware, section 2 (b) (ii) of the Strategic Banking Corporation of Ireland Act 2014 lays out the purposes of the SBCI and empowers the SBCI to lend to SMEs through on-lending enterprises. It is the on-lenders who will assess the risk of the loan propositions from their customers. The SBCI is...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Funding (2 Dec 2014)

Michael Noonan: As the Deputy will be aware, in accordance with Section 5 of the Strategic Banking Corporation of Ireland (SBCI) Act, 2014, the SBCI has been established as an independent company, under the Companies Acts. The legislation provides a mandate to the SBCI and a framework from in which it will operate. Section 8 of the SBCI Act 2014 requires the SBCI to ensure that SMEs have...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Expenditure (2 Dec 2014)

Michael Noonan: The SBCI has been established with specific functions such as ensuring that SMEs are provided with sufficient finance for growth and to facilitate competition in the SME finance market by facilitating new entrants in the provision of SME credit.   Consideration is currently underway on the extent of lending which the SBCI will undertake through the course of 2015 and beyond. This is...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Remit (2 Dec 2014)

Michael Noonan: As the Deputy will be aware, section 2 (b) (ii) of the Strategic Banking Corporation of Ireland Act 2014 lays out the purposes of the SBCI and empowers the SBCI to lend to SMEs through on-lending enterprises. It is the on-lenders who will assess the risk of the loan propositions from their customers. The SBCI is based on a common and successful on-lending model that is used across Europe...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Establishment (2 Dec 2014)

Michael Noonan: As the Deputy will be aware, the Strategic Banking Corporation of Ireland (SBCI) Act, 2014 stipulates that the SBCI will present a copy of its annual audited accounts to the Minister. The Minister is required lay a copy of the audited accounts before each House of the Oireachtas. A senior member of the staff of the SBCI nominated by its chairperson shall give evidence to Oireachtas...