Results 11,661-11,680 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Collection (1 May 2014)

Michael Noonan: I am advised by Revenue that Section 156 of the Finance (Local Property Tax) Act 2012 converted any arrears of Household Charge (HHC) that was still outstanding on 1 July 2013 to a Local Property Tax (LPT) liability of €200 per property and made Revenue responsible for collecting the tax. As part of its communications strategy for HHC, Revenue advised property owners that any arrears...

Written Answers — Department of Finance: Property Taxation Exemptions (1 May 2014)

Michael Noonan: I propose to take Questions Nos. 43 and 44 together. I am advised by Revenue that the Finance (Local Property Tax) Act 2012 (as amended) makes provision for a number of exemptions from Local Property Tax (LPT). Section 10 of the Act provides for an exemption from LPT for residential properties in unfinished housing estates, providing those estates have been prescribed as unfinished by my...

Written Answers — Department of Finance: Banking Sector (1 May 2014)

Michael Noonan: I can confirm for the Deputy that I have received the following comments from the banks in relation to his question: Allied Irish Banks: AIB's underwriting criteria is based on the repayment capacity of the borrower. As a general rule, personal loans to individuals are not made on a non-recourse basis. Where non-recourse lending occurs (typically on higher value transactions) an...

Written Answers — Department of Finance: Tax Reliefs Availability (1 May 2014)

Michael Noonan: I assume the Deputy is referring to single farm payment entitlements. There are potential tax implications arising from the disposal of such entitlements, mainly capital gains tax (CGT) and VAT. A single farm payment entitlement is a chargeable asset for capital gains tax (CGT) purposes and once acquired it may be disposed of by way of sale, gift etc. Accordingly, gains arising from the...

Written Answers — Department of Finance: Tax Credits (1 May 2014)

Michael Noonan: I am advised by the Revenue Commissioners in relation to the first person named, that they have written to the person concerned for the information necessary to establish his tax credit entitlement. A PAYE Balancing statement (P21) will be issued when position is clarified. In relation to the second person referred to by the Deputy, Revenue records indicate that the person concerned is...

Written Answers — Department of Finance: Tax Rebates (1 May 2014)

Michael Noonan: I am advised that Section 1006A TCA 1997 provides that where a taxpayer is due a refund of tax, Revenue can offset the amount owed or part of the amount owed to any other tax liability that the person may have. I am further advised that before Revenue processes any refund of tax, all of the taxheads that the person is registered for are examined to ensure there are no debts outstanding....

Written Answers — Department of Finance: Tax Code (1 May 2014)

Michael Noonan: I assume the Deputy is referring to the possibility of applying consumer price subsidies to healthy and nutritious foods to incentivise the consumption of those foods. In this regard, I would point out that as Minister of Finance I do not have a role in providing price subsidies to food products.  However, I do have responsible for taxation policy and the Deputy may be aware...

Written Answers — Department of Finance: IBRC Loans (1 May 2014)

Michael Noonan: Given the success of the sales process to date the Special Liquidators have confirmed that they now expect the proceeds from the sale of IBRC assets to be sufficient to fully discharge the outstanding secured debt owed to NAMA.  Therefore the transfer of assets to NAMA as part of the Special Liquidation is no longer required. In order to effect this I have withdrawn the...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (1 May 2014)

Michael Noonan: As the Deputy is aware, NAMA will not now be obliged to purchase unsold IBRC assets at their independent valuation as previously envisaged. The Special Liquidators will now devise and manage a further sales process in respect of the unsold residential mortgages in a manner that maximises the return to all remaining creditors of IBRC, including the State. This process is being finalised...

Written Answers — Department of Finance: Strategic Investment Bank Establishment (1 May 2014)

Michael Noonan: The National Treasury Management Agency (Amendment) Bill 2014 will formally establish NewERA and the Ireland Strategic Investment Fund (ISIF) and will reform the governance of the National Treasury Management Agency (NTMA). Publication of the Bill is expected very shortly. The legislation will re-orient the National Pensions Reserve Fund into the Ireland Strategic Investment...

Written Answers — Department of Finance: Tax Collection (1 May 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the person in question is in receipt of an occupational pension and a state pension from the Department of Social Protection. Following receipt of the person's return of income for the year 2013 an incorrect tax credit certificate issued for 2014. Revenue have now arranged for the issue of an amended certificate to both the taxpayer and his...

Topical Issue Debate: Insurance Industry (30 Apr 2014)

Michael Noonan: To reply to Deputy Conway, I cannot comment on an individual case and I have no idea what the liability might be. It is not clear yet from Malta, because the company only went into liquidation today, whether there are assets which partially support the outstanding claims of the company. I am sure it will be clarified in due course. The insurance compensation scheme we operate here between...

Topical Issue Debate: Insurance Industry (30 Apr 2014)

Michael Noonan: I thank the three Members for raising this important issue and for their contributions to this exchange of views. Setanta Insurance Company Limited is a Maltese incorporated company, which was both authorised and prudentially supervised by the Malta Financial Services Authority, MFSA. While its financial position is not supervised by the Central Bank of Ireland, as it has no role in that...

Written Answers — Department of Finance: Tax Code (30 Apr 2014)

Michael Noonan: The supply of water by local authorities and Irish Water is exempt from VAT. This VAT exemptions 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...

Written Answers — Department of Finance: Illicit Trade in Tobacco (30 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that combating the illegal tobacco trade is, and will continue to be, a high priority for them. Their work against this illegal activity includes a range of measures designed to identify and target those who are engaged in the supply or sale of illicit products, with a view to seizing the illicit products and prosecuting those responsible. This...

Written Answers — Department of Finance: Household Charge Collection (30 Apr 2014)

Michael Noonan: I am advised by my colleague the Minister for the Environment and by the Local Government Management Agency that they are not aware of any outstanding cases before the courts concerning the Household Charge. As regards the Revenue Commissioners, I have answered a number of Questions previously on this issue.  In particular, in my reply to Question number 92 on 26 June 2013, I informed...

Written Answers — Department of Finance: Betting Legislation (30 Apr 2014)

Michael Noonan: The Betting (Amendment) Bill 2013, which includes provisions around extended opening hours for betting shops,  was published in July last.  Following publication the EU Commission had to be notified under the Technical Standard Directive and a three month standstill period ensued.  That standstill period ended in October last. Second stage was completed in January and my...

Written Answers — Department of Finance: Insurance Industry (30 Apr 2014)

Michael Noonan: Under EU law which governs non-life insurance, an insurer is required to inform the regulator in its home Member State (its home regulator) that it intends to pursue business in another Member State. The home regulator must then provide the host regulator with a certificate attesting that the insurer covers the EU Solvency Capital Requirement, as well as the nature of the business which the...

Written Answers — Department of Finance: Departmental Communications (30 Apr 2014)

Michael Noonan: In response to the Deputy's question phone calls into or out of my Department are not currently being recorded nor have they been recorded in the past.  

Written Answers — Department of Finance: Freedom of Information Requests (30 Apr 2014)

Michael Noonan: The total number of Freedom of Information requests received by my Department between 1 January 2013 and 11 April 2014 was 265.  The number of these requests that were related to tobacco policies in general was 10. 7 of the 10 requests related specifically to standardising packaging of tobacco products and all 7 of these were made by an agent acting on...