Results 10,481-10,500 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: General Government Debt (17 Jul 2014)

Michael Noonan: General government debt from 2007 to 2013 in monetary terms, as a percentage of GDP and as a percentage of GNP is set out in the table. General government debt 2007 2008 2009 2010 2011 2012 2013 monetary terms (€bn) 47.1 79.6 104.5 144.2 169.2 192.5 202.9 as a % of GDP 24.9% 44.2% 64.4% 91.2% 104.1% 117.4% 123.7% as a % of GNP 28.9% 51.4% 78.1% 109.4% 129.5% 145.1% 147.1%(Source:...

Written Answers — Department of Finance: Banking Sector (17 Jul 2014)

Michael Noonan: As Minister for Finance I have no role in the granting of a banking licence. Section 9 of the Central Bank Act, 1971 (as amended) outlines the role of the Central Bank in granting, or refusing to grant, a banking licence. I have been informed by the Central Bank that it has received only one application for a new bank licence since 2010. The application in this case was...

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

Michael Noonan: The background to the Deputy's question is that a technical change made at EU level to the new Common Agriculture Policy (CAP) arrangements for replacing the Single Payment Scheme for farmers with the Basic Payment Scheme after this year impacts on farmers who let 100% of their farmland and their single farm payment entitlements. As a result of the change, farmers in this position would have...

Written Answers — Department of Finance: Universal Social Charge Application (17 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the full year cost, estimated by reference to 2014 incomes, of increasing the 2% USC rate threshold to €12,000, €15,000 and €17,500 is tentatively estimated to be of the order of €189 million, €465 million and €685 million respectively. These figures are estimates for 2014 incomes from the Revenue tax...

Written Answers — Department of Finance: Pensions Levy (17 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that receipts to date from the 0.6% Stamp Duty levy on pension fund assets, introduced in the Finance (No. 2) Act 2011, are as follows: Year Yield (€ million) 2011 463 2012 483 2013 535 The deadline date for payment this year of the Pension Fund Levy and of the additional 0.15% levy on pension funds introduced in Budget 2014 is 25...

Written Answers — Department of Finance: Mortgage Interest Relief Expenditure (17 Jul 2014)

Michael Noonan: I am advised by Revenue that mortgage interest relief (MIR) is paid by way of tax relief at source (TRS) through the relevant lending institutions. The number of mortgage accounts in receipt of MIR and the cost of the scheme in each year from 2010 to 2014 (at end May) is set out in the table below. The full cost for 2014 is estimated at €350m. Tax Year Number of Accounts Cost ...

Written Answers — Department of Finance: Licensed Moneylenders (17 Jul 2014)

Michael Noonan: The total number of licensed moneylenders in the State at the end of each year is as follows: 2010 - 46 2011 - 48 2012 - 44 2013-  40 The total number as at 15 July 2014 is 41. Licensed moneylenders must comply with (among others) the: - The Central Bank's Consumer Protection Code for Licensed Moneylenders (the Code), - European Communities (Consumer Credit Agreements) Regulations...

Written Answers — Department of Finance: Bonds Redemption (17 Jul 2014)

Michael Noonan: I have received the following information from the Banks. Allied Irish Banks All relevant data in relation to AIB s senior and subordinated bonds outstanding are made onpages 281 283 of AIB s 2013 Annual Financial Report which is accessible at Bank of Ireland Information relating to debt instruments issued by Bank of Ireland Group and outstanding at  31 December 2013 is set out in...

Written Answers — Department of Finance: EU-IMF Programme of Support (17 Jul 2014)

Michael Noonan: I am advised by the NTMA that the position on the interest rates for Ireland's programme loans is as follows. In relation to the EFSF, €7.2 billion of Ireland's EFSF loans are at fixed interest rates which were based on a matched EFSF bond/loan structure. As a result of changes to the EFSF's structure which removed the direct link between specific bond issues and programme countries,...

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

Michael Noonan: I propose to take Questions Nos. 107, 129, 159, 160 and 161 together. I am informed by the Revenue Commissioners that, estimated by reference to 2014 incomes, around 856,000 (39%) income earners are exempt from income tax: - 75,700 self-employed income earners are exempt from Income Tax, this represents 35% of self-employed income earners and 3% of all income earners. - 780,300 PAYE income...

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

Michael Noonan: In the time available, having regard to the volume of questions, Revenue are not in a position to provide the information sought. However, I will arrange for the information to be supplied directly to the Deputy.

Written Answers — Department of Finance: Tax Code (17 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that a breakdown between rent received from residential and other types of property is not sought or provided in tax returns. However, based on personal Income Tax returns filed by non-PAYE taxpayers for the year 2012, the latest year for which this information is available, and making certain assumptions about the data, it is estimated that the...

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

Michael Noonan: In the time available, having regard to the volume of questions, Revenue are not in a position to provide the information sought. However, I will arrange for the information to be supplied directly to the Deputy.

Written Answers — Department of Finance: Fuel Laundering (17 Jul 2014)

Michael Noonan: The Revenue Commissioners, who are responsible for tackling fuel laundering, advise me that there is no reliable estimate of the cost to the exchequer of fuel laundering. However, removal of the marker from rebated fuel represents a significant threat to the exchequer and therefore Revenue has made action against this illegal activity one of its priorities and is implementing a comprehensive...

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

Michael Noonan: I propose to take Questions Nos. 112 and 117 together. I am informed by the Revenue Commissioners that there are no separate statistics available in respect of Marked Gas Oil (MGO) used for agricultural purposes. MGO is used in a very large variety of applications. These extend well beyond agriculture to include the propulsion of trains, the operation of construction and industrial machinery,...

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

Michael Noonan: I am advised by the Revenue Commissioners that it is not feasible to estimate the cost of each tax expenditure on an ongoing basis. However, where identifiable, Exchequer costs of Income Tax and Corporation Tax allowances, reliefs, exemptions and tax credits are published in Table IT6 of the "Income Tax" chapter of the Revenue Statistical Report.  The Report is accessible on the...

Written Answers — Department of Finance: Tax Yield (17 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the taxable value of benefits-in-kind are not identified separately on employer returns so information in respect of benefits-in-kind arising is not captured in such a way as to provide a basis for compiling the costing sought by the Deputy.

Written Answers — Department of Finance: Tax Yield (17 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the most relevant information available to them is the estimated Corporation Tax paid in 2012 and 2013 by companies previously licensed to operate in the International Financial Services Centre (IFSC). This is of the order of €456 million and €497 million in 2012 and 2013 respectively. It should be noted that these figures relate...

Written Answers — Department of Finance: General Government Debt (17 Jul 2014)

Michael Noonan: General government debt reported by the CSO from December 2007 to December 2013 is as follows: - 2007 2008 2009 2010 2011 2012 2013 General government debt (€bn) 47.1 79.6 104.5 144.2 169.2 192.5 202.9(Source: Eurostat, ESA 95 basis) Accumulated exchequer cash and deposit (other short-term investment) balances which were included in the composition of debt are: - 2007 2008 2009...

Written Answers — Department of Finance: Government Deficit (17 Jul 2014)

Michael Noonan: My Department's latest estimates of the structural deficit were outlined in the April 2014 Stability Programme Update. The structural deficit is the underlying deficit that would occur in the absence of temporary factors and the impact of the economic cycle on the budget balance. The estimated structural budget deficit in 2013 was 6.2 per cent of GDP,...