Results 10,301-10,320 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Departmental Records (18 Sep 2014)

Michael Noonan: File Management and Archiving is a shared service provided by my Department for both the Department of Finance and the Department of Public Expenditure and Reform in respect of file management and paper records. Previously, my Department had a member of staff who had performed the duties of an archivist on a part time basis. As part of a broader review of our strategy for record and...

Written Answers — Department of Finance: Departmental Records (18 Sep 2014)

Michael Noonan: The provision of the storage of records and archives is a shared service provided by my Department to both the Department of Finance and the Department of Public Expenditure and Reform. The storage of files are presently in two separate locations. The first is in our main premises in Government Buildings. There is no cost to the Department for the storage in this area. The second is an...

Written Answers — Department of Finance: Water Charges Introduction (17 Sep 2014)

Michael Noonan: The supply of water by local authorities and Irish Water is exempt from VAT. This VAT exemption applies to all supplies of water, including supplies to domestic households, businesses and others. Ireland's long standing VAT exemption for the supply of water is currently contained in paragraph 14(2) of Schedule 1 to the VAT Consolidation Act 2010. The exemption is based on a derogation...

Written Answers — Department of Finance: Customs and Excise Controls (17 Sep 2014)

Michael Noonan: I am very mindful of the unfair competitive advantage to be gained by those businesses who operate in the shadow economy thereby creating an un-level playing field for tax compliant businesses and undermining the orderly functioning of the State. Shadow economy activity is not just confined to illicit activity such as tobacco smuggling, oil laundering and counterfeiting but also ranges...

Written Answers — Department of Finance: Insurance Industry Regulation (17 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 174 and 214 together. In the immediate aftermath of the announcement of the liquidation of Setanta, my officials were informed by Insurance Ireland that MIBI had indicated that they intended to accept all third party claims. My statements in the Dáil reflected this position which was accurate based on the information available at the time. However,...

Written Answers — Department of Finance: Motor Insurance Regulation (17 Sep 2014)

Michael Noonan: The Motor Insurance Bureau of Ireland (MIBI) is a non-profit-making organisation registered in Ireland. All insurance companies underwriting motor insurance in this county must, by law, be members of MIBI and contribute to the funding of claims in proportion to their market share. The principal role of MIBI is to compensate innocent victims of accidents caused by uninsured and...

Written Answers — Department of Finance: Property Taxation Collection (17 Sep 2014)

Michael Noonan: I have some sympathy with the matter raised by the Deputy, but as I have informed the House on a number of occasions, the concept of a 'de minimis' amount, which is linked to the supplementary welfare allowance, is enshrined in section 189 of the Social Welfare (Consolidation) Act 2005. It was considered at the time of the introduction of Local Property Tax (LPT) that it was not appropriate...

Written Answers — Department of Finance: Action Plan for Jobs (17 Sep 2014)

Michael Noonan: Under the Action Plan for Jobs, the Clearing House Group, under the auspices of the Department of An Taoiseach, initiated a series of working groups to examine particular aspects of international financial services in Ireland. One such working group composed of private and public body representatives, including the IDA and EI, has been examining the so-called Fintech sector which employs an...

Written Answers — Department of Finance: Motor Insurance Regulation (17 Sep 2014)

Michael Noonan: On the 1stMarch 2011 the European Court of Justice declared invalid, with effect from 21 December 2012, Article 5(2) of the council directive 2004/113/EC of 13 December 2004. The effect of this ruling is that all private insurance contracts concluded for the first time from 21 December 2012 as well as any  agreements between parties to extend contracts from that date are prohibited...

Written Answers — Department of Finance: Living City Initiative (17 Sep 2014)

Michael Noonan: My officials met formally with representatives from the local authorities and other Government agencies on 31 January last. Since then we have had numerous fruitful contacts with the local authorities and their cooperation in this matter is much appreciated. My officials have also been in contact with the EU Commission on the application for State Aid approval for the Initiative and...

Written Answers — Department of Finance: International Agreements (17 Sep 2014)

Michael Noonan: Ireland recognizes the importance of an appropriate international agreement regarding sovereign debt restructuring due to its significant economic, social and financial implications. In common with other EU Member States, Ireland was unable to support the recent UN resolution on a multilateral legal framework for sovereign debt restructuring, and this position was based on shared...

Written Answers — Department of Finance: Customs and Excise Controls (17 Sep 2014)

Michael Noonan: I am advised by the Revenue Commissioners that harbours and inlets along the Co. Mayo coastline are monitored on a regular basis. The risk of smuggling of all types, including smuggling of drugs, using boats/ships is fully appreciated by Revenue and is the subject of continuous assessment and risk analysis. The decision on whether or not to board and search a vessel is based on risk...

Written Answers — Department of Finance: Financial Services Regulation (17 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 182, 275 and 276 together. I, as Minister for Finance, am committed to bringing forward legislation that protects consumers whose mortgages are sold to unregulated entities. The Government has reiterated this commitment on several occasions. In July and August of this year, my Department ran a public consultation seeking views on its proposed legislation...

Written Answers — Department of Finance: VAT Rate Application (17 Sep 2014)

Michael Noonan: Tea and preparations derived from tea, when supplied in non-drinkable form, are liable to VAT at the zero rate. I consider it appropriate that the zero rate should also apply to herbal teas and fruit infusions and I intend to amend the VAT Consolidation Act to this effect. 

Written Answers — Department of Finance: NAMA Property Sales (17 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 184 and 205 together. The strong improvement in conditions in the Irish commercial and residential property markets over the past year created opportunities for NAMA to increase the flow of Irish property assets and loan sales to the market. Earlier this year, NAMA announced that, in line with its obligations under Section 10 of the NAMA Act, it considered...

Written Answers — Department of Finance: Tax Exemptions (17 Sep 2014)

Michael Noonan: Section 6 of the Finance (No 2) Act 2013 introduced the Start Your Own Business initiative which provides an exemption from income tax for 2 years for individuals starting a new business where the individuals were previously long-term unemployed. The profits of such a business, up to a maximum of €40,000, are relieved from income tax in each year of the first two years of...

Written Answers — Department of Finance: Tax Data (17 Sep 2014)

Michael Noonan: Section 45 of Finance (No 2) Act of 2013 provides for a capital gains tax relief for entrepreneurs who reinvest the proceeds from the disposal of assets made on or after 1 January 2010 in certain chargeable business assets. Commencement of the legislative provisions is subject to EU state-aid approval. Discussions with the EU Commission about State Aid clearance are ongoing. I hope that these...

Written Answers — Department of Finance: Budget Measures (17 Sep 2014)

Michael Noonan: My officials met formally with representatives from the local authorities and other Government agencies on 31 January last. Since then we have had numerous fruitful contacts with the local authorities and their cooperation in this matter is much appreciated. My officials have also been in contact with the EU Commission on the application for State Aid approval for the Initiative and...

Written Answers — Department of Finance: Tax Reliefs Application (17 Sep 2014)

Michael Noonan: As the Deputy is aware, I introduced the Home Renovation Incentive (HRI) in Budget 2014. The incentive provides tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. In order to qualify for the tax credit, the works must be carried out by legitimate...

Written Answers — Department of Finance: Tax Reliefs Cost (17 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the cost to the Exchequer of income tax relief relating to private pension contributions for 2012 and 2013 is not yet available. The following table provides a breakdown of the estimated cost for 2011, the latest year for which data are available. It should be borne in mind that the costing of tax and other reliefs in the pensions area may...