Results 9,161-9,180 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: VAT Rate Reductions (26 Nov 2014)

Michael Noonan: Bottled water is subject to the standard VAT rate.  The standard rate is the VAT rate applied to bottled water in the majority of EU Member States.  Prior to 1992 bottled waters and fruit juices had applied at the zero rate, but were made subject to the standard rate from 1 November 1992 in order to correct a competitive anomaly, as similar competing products such as soft drinks...

Written Answers — Department of Finance: Departmental Meetings (26 Nov 2014)

Michael Noonan: In response to the Deputy, please find below, a table detailing all MAC meetings since 2011 and a full list of attendees at these meetings. Date of MAC Attendees 05-Jan-11 Secretary General, Secretary General PSMD, Ann Nolan, Donal McNally, Eamonn Kearns, Eoin Dorgan, Carmel Keane, William Beausang, Brendan Duffy, Patricia Coleman,  Tim Duggan, Michael McGrath, David...

Written Answers — Department of Finance: Tax Code (26 Nov 2014)

Michael Noonan: The data requested by the Deputy is set out in the table. Gross Income Income Tax USC Net Income Annual Benefit Change as % of Gross Income Existing Proposed Existing Proposed Existing Proposed € € € € € € € € % 9,000 0 0 0 0 9,000 9,000 0 0.0% 12,000 0 0 279 0 11,721 12,000 279 2.3% 15,000 0 0 399 285 14,601 14,715 115...

Written Answers — Department of Finance: Tax Exemptions (26 Nov 2014)

Michael Noonan: I am informed by the Revenue Commissioners that in the course of their compliance programmes they have established that this exemption, designed to cater for normal everyday payments related to the provision of support, maintenance or education for children, is being abused. For taxpayer confidentiality reasons, the Revenue Commissioners are not in a position to disclose specific details of...

Written Answers — Department of Finance: Proposed Legislation (26 Nov 2014)

Michael Noonan: In order to protect consumers whose loans are sold to unregulated entities the Government is committed to bringing forward appropriate legislation and in July and August of this year the Department of Finance ran a public consultation seeking views on this proposed legislation.  There have been nineteen submissions received from a range of respondents including the financial...

Written Answers — Department of Finance: Tax Clearance Certificates (26 Nov 2014)

Michael Noonan: The purpose of the tax clearance scheme is to ensure that persons who derive economic benefit from having a licence/permit to conduct certain activities in the State, or who receive contracts/grants, subsidies or certain other payments from the State are in compliance with their tax obligations.  The scheme also encompasses certain positions covered by the Standards in Public Office Act....

Written Answers — Department of Finance: Revenue Commissioners Resources (26 Nov 2014)

Michael Noonan: I am informed by the Revenue Commissioners the delivery of a comprehensive and professional public service is a priority for them, and customer services are continually monitored to ensure the best possible service. Callers to the Revenue public office in Cork are provided with a full range of services between 10 a.m. and 4 p.m. each day. Naturally some issues are complex and require...

Written Answers — Department of Finance: Irish Water Funding (26 Nov 2014)

Michael Noonan: In July 2013, in order to meet expected costs arising,  Irish Water entered into a €250 million bridging loan facility with the National Pensions Reserve Fund Commission (NPRF), which is repayable in September 2015.  This facility was part drawn at the end of 2013 and was fully drawn down during 2014.  Earlier this month, the NPRF agreed to increase the amount available...

Written Answers — Department of Finance: IMF Loan Issues (26 Nov 2014)

Michael Noonan: As the Deputy will be aware, I am proposing to make an early repayment of approximately €18.3 billion of Ireland's €22.5 billion IMF loan, which is the portion subject to the highest rate of charge, and to replace it, in a measured way, with less expensive market funding subject to prevailing market conditions. The early repayment will take place in tranches, with the first...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (26 Nov 2014)

Michael Noonan: Since the commencement of the Central Bank (Supervision and Enforcement) Act 2013, the Central Bank may impose a monetary penalty upon a body corporate or an unincorporated body of the greater of €10,000,000 or an amount equal to 10% of the turnover of a firm. In relation to breaches that arose prior to the commencement of the 2013 Act, the maximum penalty that the Central Bank could...

Written Answers — Department of Finance: Tax Credits (26 Nov 2014)

Michael Noonan: Section 466A of the Taxes Consolidation Act 1997 provides for the Home Carer Tax Credit.  The amount of the credit is €810.  It is claimable by married persons or civil partners who are jointly assessed to tax and where one spouse or civil partner works at home caring for children, aged or incapacitated persons, and that spouse or civil partner's income is not in excess of...

Written Answers — Department of Finance: Banking Sector Remuneration (26 Nov 2014)

Michael Noonan: As the Deputy will be aware this Government's policy with respect to banking remuneration has been in place since mid-2011. In summary, remuneration in the banks is capped at €500,000 (excluding normal pension entitlements) and the payment of bonuses is not permitted. I can confirm that at a meeting which took place between AIB and officials from...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (26 Nov 2014)

Michael Noonan: In anticipation of the establishment of the Ireland Strategic Investment Fund (ISIF), the National Pensions Reserve Fund (NPRF) has committed to a number of investments in Ireland including infrastructure, water, long-term financing for SMEs (both credit and equity) and venture capital.  The NTMA has provided a detailed table of the NPRF commitments to Irish investments as at 30...

Written Answers — Department of Finance: Mortgage Arrears Rate (26 Nov 2014)

Michael Noonan: The Central Bank has informed me that its quarterly mortgage arrears and repossessions statistics capture figures on mortgage accounts in arrears as well as on mortgage accounts subject to restructuring arrangements agreed between the borrower and his/her mortgage provider. The Central Bank has confirmed that in a situation where a borrower has the full arrears balance capitalised (so...

Finance Bill 2014: Report and Final Stages (25 Nov 2014)

Michael Noonan: I do not have that information, but the advice from the Department of Health is that an increase will enable claims to be made for legitimate expenses incurred for keeping incapacitated people at home and that it will increase the number cared for at home or at least maintain the same number being cared for at home and take pressure from acute hospitals and nursing homes.

Finance Bill 2014: Report and Final Stages (25 Nov 2014)

Michael Noonan: I do not have the average claim.

Finance Bill 2014: Report and Final Stages (25 Nov 2014)

Michael Noonan: As the Deputy will be aware, the single person child care credit is, in the first instance, only available to the primary carer of the child. In circumstances where the primary carer cannot utilise the credit - for example, because of insufficient taxable income - the primary carer may relinquish the credit and a secondary claimant may claim it. However, the requirement for a primary...

Finance Bill 2014: Report and Final Stages (25 Nov 2014)

Michael Noonan: I thank Deputy McGrath for the amendment. The system of individualisation has been in the tax code since it was introduced by the former Minister, Charlie McCreevy, in 1999. It is now integral to the overall system. When first announced, the stated purposes of individualisation were, essentially, to ease the burden on single persons, 65% of the workforce; to take workers on the average...

Finance Bill 2014: Report and Final Stages (25 Nov 2014)

Michael Noonan: I accept the Deputy's bona fides on this, but the home carer's allowance is only one part of the measures introduced to repair the damage done to one earner families when individualisation was introduced in 1999. The reason married one earners do not benefit as much from the income tax cuts as single individuals or two earner couples is because they already pay much less income tax. It is...

Finance Bill 2014: Report and Final Stages (25 Nov 2014)

Michael Noonan: I move amendment No. 5:In page 16, between lines 38 and 39, to insert the following:"Amendment of section 467 of Principal Act (employed person taking care of incapacitated individual)12.Section 467 of the Principal Act is amended in subsections (2) and (3) by substituting "€75,000" for "€50,000" in each place.".Section 467 of the Taxes Consolidation Act 1997 provides for tax...