Results 10,261-10,280 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Money Laundering (23 Sep 2014)

Michael Noonan: It should be noted that further negotiations need to take place between the EU parliament and the Council to finalise the text of the 4th Anti-Money Laundering Directive ("4AMLD"). The text as agreed by Council provides that beneficial ownership information be made available in specified circumstances.  Our position has always been in favour of greater transparancy in relation to...

Written Answers — Department of Finance: Budget Submissions (23 Sep 2014)

Michael Noonan: My Department has so far received in excess of 500 Pre-Budget Submissions from a wide range of groups and individuals. These are being considered by the relevant officials in the context of Budget and Finance Bill preparation. I can confirm that submissions on this topic have been received. However, as the Deputy will be aware, it is not the practice of the Minister for Finance to discuss...

Written Answers — Department of Finance: Universal Social Charge Application (23 Sep 2014)

Michael Noonan: The Universal Social Charge (USC) was introduced in Budget 2011 to replace the Income Levy and the Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit. It is a more sustainable charge than those it replaced.  It is applied at a low rate on a wide base, and the revenues collected play a vital part in meeting...

Written Answers — Department of Finance: Tax Code (23 Sep 2014)

Michael Noonan: Income tax is payable at 20% on earnings of up to €32,800 per annum for single individuals regardless of whether they are employees or self-employed. Earnings above this amount are subject to income tax at 41%. As the Deputy will be aware however, employees in the PAYE system benefit from a PAYE income tax credit worth €1,650 per annum, to which the self-assessed are not...

Written Answers — Department of Finance: National Debt (23 Sep 2014)

Michael Noonan: Interest payments on the National Debt to end August 2014 amounted to €4,829 million. The Budget 2014 consistent profile forecast interest expenditure to end August 2014 of €5,220 million. This reduction of €390 million on profile is primarily due to the December 2013 bond-buy back which resulted in lower interest expenditure in the early part of 2014, lower than...

Written Answers — Department of Finance: Property Taxation Yield (23 Sep 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 in July 2014 on the Commissioners' website at: The Commissioners have confirmed that the 2014 LPT Exchequer receipts to 31 August 2014 are...

Written Answers — Department of Finance: Government Bonds (23 Sep 2014)

Michael Noonan: Subsequent to the liquidation of IBRC the Central Bank acquired €25bn of Floating Rate Notes (FRNs) and €3.46bn of Government Fixed Coupon 2025 Government bonds.  The Bank undertook to sell the combined portfolio of the FRNs and the fixed rate bond as soon as possible provided the conditions of financial stability permit. The Bank also indicated that, as a minimum,...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (23 Sep 2014)

Michael Noonan: The objective of the Ireland Strategic Investment Fund (ISIF) is to invest on a commercial basis to support economic activity and employment in the state. Pursuant to the NTMA Amendment Act 2014, the NTMA shall determine, monitor and keep under review the fund's investment strategy. In this context, the agency must consult with both myself and my colleague, the Minister for Public...

Written Answers — Department of Finance: Tax Rebates (23 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the number of individuals who successfully applied for tax rebates under the Seed Capital Scheme in each of the years 2011, 2012 and 2013 and the total cost of these rebates to the Exchequer is as set out in the following table: Year Number of Individuals Estimated Cost of Rebates -€m 2011 80 2.0 2012 88 1.6 2013 59 1.3

Written Answers — Department of Finance: Seed Capital Scheme Eligibility (23 Sep 2014)

Michael Noonan: It is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. However, as the Deputy will be aware, a review of the Employment and Investment Incentive and Seed Capital Scheme was carried out this year. Part of this review included a public consultation and a series of stakeholder...

Written Answers — Department of Finance: VAT Registration (23 Sep 2014)

Michael Noonan: VAT registration thresholds provide a mechanism for exempting business with a low turnover from having to register for VAT.  This reduces the administrative burden on both small businesses often at the developmental stage and on the Revenue Commissioners.  The VAT registration thresholds for small businesses are currently €37,500 in the case of a person supplying services and...

Written Answers — Department of Finance: Excise Duties (23 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that a reduction to the excise duty by 5 cent will also reduce VAT by 1.15 cent. The estimated cost to the Exchequer of the total reduction of 6.15 cent is €41 million.

Written Answers — Department of Finance: White Paper on Receipts and Expenditures (23 Sep 2014)

Michael Noonan: The White Paper on the estimates of receipts and expenditure is published in advance of the Budget and sets out the technical 'no-policy' change position for the forthcoming year.  The White Paper for the year ending 31 December 2015 will be published at midnight on Friday, 10th October 2014 in advance of Budget day on Tuesday, 14th October 2014.

Written Answers — Department of Finance: Tax Compliance (23 Sep 2014)

Michael Noonan: I am advised by the Revenue Commissioners that a return of income for the tax year 2013 was received from the person concerned on 19th August 2013 and that a Notice of Assessment was issued on 5thSeptember 2013. 

Written Answers — Department of Finance: IBRC Mortgage Loan Book (23 Sep 2014)

Michael Noonan: It is the responsibility of the new mortgage provider to update the details on the property folios in question. The Special Liquidators of IBRC are unable to comment on the subsequent actions taken by purchasers of loan assets once the loan assets have been sold.

Written Answers — Department of Finance: Tax Code (23 Sep 2014)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall name for both gift and inheritance tax. For the purposes of CAT, the position is that the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary) determines the maximum tax-free threshold known as the "Group threshold" below which gift or...

Written Answers — Department of Finance: VAT Rate Application (23 Sep 2014)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. In this regard, EU VAT law specifically provides that all digitised publications, including e-books, are treated as the supply of a service liable at the standard rate of VAT, which in Ireland is 23%. While Ireland applies a zero VAT rate to printed books including...

Written Answers — Department of Finance: VAT Rate Application (23 Sep 2014)

Michael Noonan: The determination of the VAT rate applicable to various goods and services, and what changes may be made to the VAT rate applying to any activity, must be mindful in the first instance of EU VAT law.  VAT is governed by the EU VAT Directive, with which Irish VAT law must comply, and the application of VAT rates to various goods and services must comply with the rules regarding VAT rates...

Written Answers — Department of Finance: Property Taxation Data (23 Sep 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 in July 2014 on the Commissioners' website at: I am also advised that the Commissioners do not break the LPT statistics down to estate level....

Written Answers — Department of Finance: Student Support Schemes (23 Sep 2014)

Michael Noonan: The graduate entry programme provides undergraduate medical education of four years duration and has been developed to produce medical graduates with the ability to successfully undertake an internship and thereafter to gain full registration with the Medical Council. The programme is supported by a combination of student fees, State funding and other income.   While in this...