Results 9,441-9,460 of 27,019 for speaker:Michael Noonan

Membership of Committees: Motion (18 Nov 2014)

Michael Noonan: I move:That Deputy Clare Daly be discharged from the Joint Committee on the Implementation of the Good Friday Agreement and that Deputy Maureen O'Sullivan be appointed in substitution for her. That Deputies Dara Murphy (Minister of State at the Departments of the Taoiseach and Foreign Affairs and Trade), Simon Harris (Minister of State at the Departments of Finance, Public Expenditure and...

European Union Agency for Law Enforcement Training: Referral to Joint Committee (18 Nov 2014)

Michael Noonan: I move:That the proposal that Dáil Éireann approves the exercise by the State of the option or discretion under Protocol No. 21 on the position of the United Kingdom and Ireland in respect of the area of freedom, security and justice annexed to the Treaty on European Union and to the Treaty on the Functioning of the European Union, to take part in the adoption and application of the...

Doha Amendment to the Kyoto Protocol: Motion (18 Nov 2014)

Michael Noonan: I move:That Dáil Éireann approves the terms of the Doha Amendment to the Kyoto Protocol, done at Doha on 8th December 2012, a copy of which was laid before Dáil Éireann on 23rd October 2014.

Horse and Greyhound Racing Fund Regulations 2014: Referral to Joint Committee (18 Nov 2014)

Michael Noonan: I move:That the proposal that Dáil Éireann approves the following Regulations in draft:Horse and Greyhound Racing Fund Regulations 2014,copies of which were laid in draft form before Dáil Éireann on 14th November 2014, be referred to the Joint Committee on Agriculture, Food and the Marine, in accordance with Standing Order 82A(4)(j),which, not later than 2nd December 2014,...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (18 Nov 2014)

Michael Noonan: This amendment is in order.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (18 Nov 2014)

Michael Noonan: I do not propose to accept this amendment. It is clear from the wording of the proposed amendment that Deputy Doherty's intention is that those earning the minimum wage or less should be exempted from USC entirely. The Deputy should be aware that the changes proposed in the Finance Bill include a provision to extend the exemption threshold for USC from the current €10,036 to...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (18 Nov 2014)

Michael Noonan: I understand the points Deputy Doherty is making. However, the Government at the start of its period in office established the constitutional forum, if that is the correct name for it, and it was vested with the responsibility of bringing forward proposals on what changes to the Constitution it thought might be appropriate. The Constitution in its totality was debated and a whole series of...

Written Answers — Department of Finance: Tax Reliefs Application (18 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 155 and 168 together. Section 597A of the Taxes Consolidation Act 1997 provides for CGT entrepreneur relief as introduced by Budget 2014 and Section 45 of the Finance (No 2) Act 2013. The relief was introduced subject to State-aid approval and discussions and exchanges have been taking place with the EU Commission on that issue. The requirements can be...

Written Answers — Department of Finance: Mortgage Schemes (18 Nov 2014)

Michael Noonan: As the Deputy is aware, the Central Bank of Ireland has published a consultation paper regarding macro-prudential measures for residential mortgage lending in Ireland. The Central Bank measures, as set out in the consultation document, would place restrictions on the loan to value (LTV) and loan to income (LTI) ratios banks can apply when lending for house purchase. A copy of the...

Written Answers — Department of Finance: Tax Yield (18 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 157 to 160, inclusive, together. Profits or gains arising to an owner or part owner of a stallion from the sale of services of mares within the State by a stallion or from the sale of rights to such services have been taxable since 1 August 2008. Previously, these profits were exempt from Income and Corporation Tax. I am advised by the Revenue Commissioners...

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

Michael Noonan: The Deputy may recall that as part of my Budget announcement I made a clear statement of my intention to introduce a competitive income-based regime for intangible assets in Ireland, in what will be known as a "Knowledge Development Box" or "KDB". I view this as a positive measure for Ireland and I will ensure the Irish KDB will be among the best in class on offer internationally.  The...

Written Answers — Department of Finance: Tax Avoidance Issues (18 Nov 2014)

Michael Noonan: In June 2014, the European Commission announced their intention to open formal state aid investigations into a number of companies in Member States of the European Union.  This included Ireland's case in respect of the company in question. At the same time as this announcement, the European Commission sent a letter to Ireland in which they outlined what they see as the basis for opening...

Written Answers — Department of Finance: Banking Sector (18 Nov 2014)

Michael Noonan: As per the respective bank's interim reports, deferred tax assets at 30 June 2014 were: - Allied Irish Banks - €4.0bn - Bank of Ireland - €1.7bn - Permanent tsb - €0.4bn I can confirm for the Deputy that I have no current plans to review how deferred tax assets are treated in the tax system.

Written Answers — Department of Finance: Petrol Stretching (18 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 164 and 165 together. I am advised by the Revenue Commissioners, who are responsible for tackling fuel fraud, that they are very aware of the risks posed to consumers' vehicles, legitimate businesses and the exchequer by all forms of fuel fraud. Revenue has, over the recent past, received reports from a variety of locations around the country of problems...

Written Answers — Department of Finance: State Bodies (18 Nov 2014)

Michael Noonan: I am advised by the Revenue Commissioners that, as the Deputy has mentioned, the Central Revenue Information Office (CRIO) which is located at O'Connell St/Cathedral St, Dublin 1 is open from 8.30am to 4pm each day. The morning opening time of 8.30am has been in place since 2008, and in response to customer demand trends that saw the majority of customers calling to the office in the early...

Written Answers — Department of Finance: Tax Reliefs Application (18 Nov 2014)

Michael Noonan: Section 216A of the Taxes Consolidation Act 1997, provides an exemption from income tax to individuals who let a room or rooms in their sole or main residence, known as rent-a-room relief. The exemption applies where the gross sums receivable in a tax year in respect of all such lettings in a property, including the provision of services supplied in connection with the letting, for...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (18 Nov 2014)

Michael Noonan: As the Deputy is aware, my Department carried out a review of the Employment and Investment Incentive (EII) and Seed Capital Scheme (SCS) in advance of this year's Budget. Part of that review included a public consultation process. A report on this review was published on Budget Day and is available on the Budget website. As a result of the review carried out on the EII and SCS, I...

Written Answers — Department of Finance: Tax Yield (18 Nov 2014)

Michael Noonan: I assume the Deputy is referring to the annual rate of imputed distribution applying to Approved Retirement Funds (ARFs) and vested PRSAs which is being reduced next year from 5% to 4% of the value of the assets in the ARF/vested PRSA where the value is €2 million or less and the owner is not aged 70 years or over for the whole of a tax year. Where the owner is aged 70 or over for the...

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

Michael Noonan: The taxation of clear-felling profits earned from the forestry sector was examined in the recently published Agri-tax review. Profits or gains from the commercial occupation of woodlands are tax exempt for the purposes of income and corporation tax. Clear-felling forestry profits are subject to the upper tax exemption limits of the High Earners Restrictions rules. One of the...

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

Michael Noonan: The data requested by the Deputy are set out in the table below. Gross Income Income Tax USC Net Income Annual Benefit Change as % of Gross Income Existing Proposed Existing Proposed Existing Proposed € € € € € € € € % 15,000 0 0 399 285 14,601 14,715 115 0.8% 20,000 700 700 719 545 17,781 17,955 174 0.9% 25,000 1,700...