Results 9,541-9,560 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Departmental Contracts Data (6 Nov 2014)

Michael Noonan: I wish to inform the Deputy that in respect of my Department all external recruitment is conducted by the Public Appointments Service. I will contact the Deputy directly in respect of bodies under the aegis of my Department in due course.

Finance Bill 2014: Second Stage (Resumed) (5 Nov 2014)

Michael Noonan: Two people earning a salary of €50,000.

Other Questions: Tax Code (5 Nov 2014)

Michael Noonan: There is evidence that the Government is listening.

Other Questions: Tax Code (5 Nov 2014)

Michael Noonan: I was here at 9.25 a.m.

Finance Bill 2014: Second Stage (Resumed) (5 Nov 2014)

Michael Noonan: It is €550 million with the loss of the charge, giving a total of €850 million.

Other Questions: Crowd-Funding Initiatives (5 Nov 2014)

Michael Noonan: We might learn from the practice in the United Kingdom. In 2013, the UK Government commenced lending to small businesses through a peer-to-peer lending platform called Funding Circle. An initial amount of £20 million was provided through its British business bank and this has subsequently been increased to £40 million. These funds will be used to provide the final 10% of any loan...

Other Questions: Tax Code (5 Nov 2014)

Michael Noonan: As the Deputy will appreciate, predicting the cost and take-up of any new tax measure is difficult. When SARP was introduced in 2012, it was estimated that for every 100 individuals that availed of the scheme, the cost to the Exchequer would be approximately €5 million. The recent review of SARP has shown that just 12 individuals availed of the scheme in 2012 and provisional figures...

Other Questions: Tax Code (5 Nov 2014)

Michael Noonan: Countries all around the world compete for foreign direct investment, and in recent years schemes such as this have become the norm, especially in Western Europe. Countries with a high marginal rate of income tax, such as Ireland, face a competitive disadvantage in attracting key personnel. Holland has a scheme which is even more generous than anything I am putting on the table, and the...

Other Questions: Tax Code (5 Nov 2014)

Michael Noonan: The people who make submissions on these matters are those who are familiar with foreign direct investment and its benefits for the country and with the platforms that are necessary to attract foreign direct investment to Ireland against competition from other countries. Many people made submissions when we opened the consultative process, but principal among them were the IDA, the American...

Other Questions: VAT Exemptions (5 Nov 2014)

Michael Noonan: VAT is largely driven by EU VAT directives. When the European Court of Justice makes a ruling, it applies to Ireland whether we legislate domestically or not. We have to legislate domestically to incorporate it in the body of our VAT law. This is a very minor change and the reason it was not mentioned in the Budget Statement was that it was so minor. It was in the supporting documents for...

Other Questions: VAT Exemptions (5 Nov 2014)

Michael Noonan: Ireland is an effective, respectable and fair country and we try to keep our tax laws in line with international law. As VAT is driven by EU directives, if the European Court of Justice makes a ruling, we try to amend our laws to comply with that. On the precise question on the current position of the Revenue Commissioners, as I said in my reply, where VAT refunds arise the Revenue...

Other Questions: Crowd-Funding Initiatives (5 Nov 2014)

Michael Noonan: Crowd-funding is still in its early stages of development. This type of funding has the potential to increase entrepreneurship as it bridges a financing gap for many micro-enterprises and fosters a more engaged investor community whose expertise can help micro-enterprises. Delivering on action No. 217 of the Action Plan for Jobs 2014, officials in my Department are working with stakeholders...

Other Questions: Crowd-Funding Initiatives (5 Nov 2014)

Michael Noonan: As the Deputy knows, crowd-funding is the practice of funding a project or venue by raising small amounts of money from a large number of people, typically via the Internet. Crowd-funding campaigns are generally funded by the general public rather than by traditional investors. Section 6.2 of the 2014 report of the entrepreneurship forum discusses crowd-funding and recommends that no action...

Ceisteanna - Questions - Priority Questions: Corporation Tax Regime (5 Nov 2014)

Michael Noonan: There are 200,000 or more ordinary people, as the Deputy described them, working in foreign direct investment companies in Ireland and we want to ensure that not only are these jobs preserved but that they grow in number and prosper. We abolished the double Irish, which was never an invention of the Irish tax authorities. The tax avoidance arose in matching gaps in different nationalities'...

Ceisteanna - Questions - Priority Questions: Corporation Tax Regime (5 Nov 2014)

Michael Noonan: As I said, I have announced that there will be a consultative process which will commence before Christmas. It is not aimed particularly at the multinationals; therefore, I invite a submission from the Deputy along the lines of what he has spoken about, if he feels like doing so. We have consultative processes for new initiatives in the Department of Finance. That is the democratic way in...

Other Questions: VAT Exemptions (5 Nov 2014)

Michael Noonan: The proposal in the Finance Bill 2014 to exempt green fees in member-owned clubs from 1 January 2015 is necessary to ensure Irish VAT law complies with the recent decision of the European Court of Justice in the Bridport & West Dorset Golf Club Limited case, reference number C-495/12. Membership fees received from members of member-owned golf clubs had already been exempt from VAT...

Ceisteanna - Questions - Priority Questions: Mortgage Schemes (5 Nov 2014)

Michael Noonan: As I have indicated, the Central Bank recently published a consultation paper on macro-prudential measures for residential mortgage lending. The bank is required to consult the Minister for Finance on proposed measures in this area. It may also consult others, as it considers appropriate. Given the wide public interest in this matter, I welcome the commencement by the Central Bank of a...

Ceisteanna - Questions - Priority Questions: Mortgage Schemes (5 Nov 2014)

Michael Noonan: When the Central Bank invites consultations, the Department of Finance usually makes a submission. We are preparing one and it will not be a Government submission, rather it will be a submission by the Department of Finance in response to the Governor of the Central Bank's invitation to make a submission. It does not have to be an institutional submission. Any Deputy who has well formed...

Ceisteanna - Questions - Priority Questions: Mortgage Schemes (5 Nov 2014)

Michael Noonan: I am looking forward to the committee's consultation and its report on these matters. I do not think it is necessary for a mortgage insurance scheme to apply to the full life of a 25 year mortgage. It seems that if there was insurance for the first five years, things would be well settled thereafter. If someone has paid fully for five years, the likelihood of default thereafter will...

Ceisteanna - Questions - Priority Questions: Corporation Tax Regime (5 Nov 2014)

Michael Noonan: In last month's budget I announced several changes to Ireland's corporation tax regime as part of an overall strategy to play fair and win. This included a change that will bring Ireland's company residence rules into line with those in the rest of the OECD and end the so-called double Irish scheme. This was balanced by a number of competitive enhancements contained in the roadmap for...