Results 9,921-9,940 of 27,019 for speaker:Michael Noonan

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: Actually, I am not raising any other taxes at all because I am able to fund the costs of these reforms and incentives through improved tax revenues arising from economic growth and expenditure restraint. Conclusion Both the taxation and expenditure sides of this year's budget are designed to support and broaden the economic recovery that we are now experiencing. Available resources have...

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: I will read that again, in case Deputy McGrath did not hear it.

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: -----increasing the entry point to the second rate of USC from just over €10,000 to just above €12,000 and the upper ceiling for this band is increasing from just over €16,000 to just above the level of the minimum wage; reducing the 2% USC rate to 1.5%; reducing the 4% USC rate to 3.5%; increasing the income tax standard rate band by €1,000 to €33,800 for...

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: The Government is doing its part to overcome the challenges and remove the roadblocks to a fully functioning property market. It is up to the other stakeholders to follow suit. There is a view that owners of zoned and serviced land are waiting for higher prices and that is why they are not taking steps to develop their land or sell it to others who will. I will launch a public consultation...

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: I have said on many occasions that small and medium enterprises, SMEs, are the lifeblood of our economy and play a crucial role in economic and employment growth. This Government has introduced a range of initiatives to support the SME sector to grow and create jobs. Financing SME growth The strategic banking corporation of Ireland, which is expected to be formally launched at the end of...

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: In the light of reports of rising prices in this sector, it is incumbent on the industry to ensure that this relief continues to be passed through fully to the consumer. However, let me be very clear, the taxpayer cannot be the only stakeholder keeping costs down in the sector. If prices begin to rise, the case for retaining the measure diminishes. The reduction in the VAT rate for...

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: The roadmap responds to a changing international environment and ensures that we continue to attract and retain companies of real substance offering real jobs. The roadmap will improve Ireland’s research and development, R&D, regime by fully phasing out the R&D base year from 1 January 2015; enhance Ireland’s existing intangible asset tax provisions to make Ireland an...

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: When the Government took office in March 2011, we set out a plan to regain control of Ireland’s fiscal and economic policies, to grow the economy and to get people back to work. Many people both inside and outside this House believed that we, as a Government, would fail and opposed each and every step we took along the way. The Government did not fail. We exited the bailout. The...

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: We must secure a new economy for a new Ireland. Of course, we must continue to deal with the legacy issues of the economic crisis, and we will do so, but today is about looking forward. It is about building for the future upon this solid foundation that has been so painstakingly laid. Macro-economic, fiscal and financial framework As a result of the policies pursued by the Government and...

Written Answers — Department of Finance: Chemical Markers (14 Oct 2014)

Michael Noonan: I am advised by the Revenue Commissioners, who are responsible for the collection of mineral oil tax, that a chemical marker prescribed under the EU law must be added to diesel and kerosene taxed at a lower rate of mineral oil tax. Not more than 4.5 kilograms of the chemical marker are added to every half million litres of gas oil or kerosene. Prior to the selection of the chemical marker,...

Written Answers — Department of Finance: Tax Reliefs Application (14 Oct 2014)

Michael Noonan: As the Deputy will appreciate, in general,  any new tax relief should only be considered if there is a clear evidence of market failure and if there are compelling reasons why an intervention through the tax system would be more effective than a direct exchequer grant or subsidy. Any new proposal for a potentially significant tax expenditure should be subject to an ex-ante cost...

Written Answers — Department of Finance: Tax Code (14 Oct 2014)

Michael Noonan: It is not the function of the Tax Code or the Oireachtas to determine the employment relationship between parties. If the true relationship between parties is that of an employer/employee then the employer is required, under the Tax Code, to operate PAYE on payments made to the employee. If, however, the true relationship is not that of an employer/employee then, where the relationship...

Written Answers — Department of Finance: Banking Sector (14 Oct 2014)

Michael Noonan: The Deputy might be aware that I have responded to a number of recent Parliamentary Questions on  this same topic and, for the benefit of the Deputy I repeat my answer as follows: I have no direct function in the relationship between banks and their customers.  Neither do I have a statutory function in relation to banking decisions made by individual lending...

Written Answers — Department of Finance: Tax Code (14 Oct 2014)

Michael Noonan: The ability of some multinationals to lower the amount of corporation tax they pay world-wide using international structures is an issue that has attracted a lot of public and media attention over the past 24 months. The G20 have acknowledged that this is a global challenge that requires global action, and this is happening through the OECD Base Erosion and Profit Shifting ('BEPS')...

Written Answers — Department of Finance: Property Taxation Data (14 Oct 2014)

Michael Noonan: I am informed by the Revenue Commissioners that compliance data in relation to the Local Property Tax (LPT) is available broken down by city and county councils nationally and the most up to date figures for LPT collected in 2013 and 2014 were published on 10 October 2014 on the Commissioners' website at: .  I am also advised that the Commissioners do not break the LPT statistics down to...

Written Answers — Department of Finance: Tax Code (14 Oct 2014)

Michael Noonan: This question relates to the interest restriction applying to residential lettings, whereby the deductibility of interest in computing taxable rental income from residential property (insofar as it would otherwise be allowable) is limited to 75% of such interest. Rental income for tax purposes from such property is the gross rental income less allowable expenses incurred in earning that...

Written Answers — Department of Finance: Vehicle Registration (14 Oct 2014)

Michael Noonan: I am informed by the Revenue Commissions that a minibus with a minimum of 10 seats is liable to Vehicle Registration Tax (VRT) at a flat rate of €200 at registration. There is no specific provision in the legislation for a relief from VRT for an organisation with charitable status.  However, in respect of disabled passengers, Statutory Instrument No. 353 of 1994 provides for...

Written Answers — Department of Finance: VAT Exemptions (14 Oct 2014)

Michael Noonan: The EU VAT Directive generally provides that supplies of goods and services are 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 zero rate where the products were liable to VAT at the zero rate...

Written Answers — Department of Finance: Motor Fuels Issues (14 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 49 and 50 together. I am advised by the Revenue Commissioners, who are responsible for tackling fuel fraud, that they are aware of the risks posed to consumers' vehicles, legitimate businesses and the exchequer by all forms of such fraud. Revenue had made great progress in tackling the problem of diesel laundering over the last three years, and reports now...

Written Answers — Department of Finance: Banking Sector (14 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 51 to 54, inclusive, together. As the Deputy will be aware under the Relationship Frameworks the State does not intervene in the day to day operations of the banks or their management decisions regarding commercial matters. In the case of AIB, the bank has previously indicated that as part of its restructuring plan to reduce costs and increase...