Results 11,681-11,700 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I would like to assure the Deputy that the need to balance the competitiveness of our corporation tax offering for mobile foreign direct investment while ensuring the maximum benefits to the State is a matter that is considered on an on-going basis. The importance of maintaining the standard 12.5% rate of corporation tax to Ireland's international competitive position in the current climate...

Written Answers — Department of Finance: Fuel Rebate Scheme (30 Apr 2014)

Michael Noonan: The scheme, introduced by me in the Finance Act 2013, provides for a repayment of a part of the mineral oil tax paid on the purchases of auto-diesel for use in the course of business by qualifying road haulage and bus operators. I am informed by the Revenue Commissioners that the numbers of haulage and bus operators availing of the scheme at 27th April is 1,426. The total number of claims...

Written Answers — Department of Finance: Property Taxation Collection (30 Apr 2014)

Michael Noonan: The Deputy will be aware that this case was previously raised by him under Question 44090 of 2013. The initial difficulties in the case arose because the person in question failed to engage with Revenue in regard to the ownership of the property in spite of receiving a number of letters and reminders in regard to the issue. As a direct consequence of the non engagement, Revenue issued an...

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

Michael Noonan: The Thornhill Group, the inter-departmental group chaired by Dr Don Thornhill established to consider the structures and modalities of a property tax, recommended that Local Property Tax (LPT) paid by the owner in respect of a rented property should be deductible for income tax or corporation tax purposes, in a similar manner to commercial rates. The Government has agreed in principle to...

Written Answers — Department of Finance: Central Bank of Ireland (30 Apr 2014)

Michael Noonan: I have been informed by the Central Bank that a meeting has taken place between Professor Morgan Kelly and representatives of the Central Bank, but I am not privy to the details of any such meetings conducted by the Central Bank. As the Deputy is aware, the remarks by the UCD academic Morgan Kelly relate to the forthcoming stress testing by the ECB and in this context the Governor...

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

Michael Noonan: I am advised by the Revenue Commissioners that this taxpayer contacted Limerick Revenue District on Friday 25thApril. A Tax Return for 2012 was issued to the taxpayer on that day. On receipt of the completed return, a notice of assessment will issue immediately, in accordance with the information contained in the form.

Written Answers — Department of Finance: Vehicle Registration Issues (30 Apr 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the Finance Act 1992, Part II, Chapter IV provides that, for Vehicle Registration Tax purposes, tractors are classified as Category C vehicles and liable to a VRT charge of €200.  All vehicles, unless they have a specific arrangement with the Revenue Commissioners, must be registered not later then 30 days following their arrival in...

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

Michael Noonan: I am informed by the Revenue Commissioners that the total tax expenditure in respect of pension contributions for 2011, the latest year for which data are available, is estimated to be in the region of €1,500 million. These costs include those associated with employee and employer contributions to approved superannuation schemes, exemption of employers contributions from employee...

Written Answers — Department of Finance: NAMA Portfolio (30 Apr 2014)

Michael Noonan: The Deputy will be aware that NAMA's role in relation to property is, like a bank, that of a secured lender and that it does not, generally speaking, own residential or other property assets securing its loans. Rather, such properties are owned and managed by NAMA debtors or, in the case of enforcement, are managed by the appointed insolvency practitioner. I am advised that NAMA has an...

Written Answers — Department of Finance: Property Taxation Administration (30 Apr 2014)

Michael Noonan: I am advised by Revenue that no transaction fees or charges are incurred where liable persons opt to pay their Local Property Tax (LPT) or arrears of Household Charge (HHC) through Deduction at Source from employment, occupational pension or certain payments from the Departments of Social Protection and Agriculture, Food and the Marine. In regard to the other payment options that are...

Written Answers — Department of Finance: NAMA Operations (30 Apr 2014)

Michael Noonan: The Deputy may be aware that, under Section 53 of the NAMA Act 2009, NAMA is required to submit to me, before end-September in each year, an annual statement setting out its proposed objectives, activities, strategies, policies and proposed use of resources for the subsequent financial year. NAMA's Annual Statement for 2014, which was submitted to me in September 2013, is available on its...

Written Answers — Department of Finance: NAMA Operations (30 Apr 2014)

Michael Noonan: As the Deputy will be aware, as part of the EU State aid approval process for the NAMA Scheme, which was approved by the Commission on 26 February 2010, the Irish authorities committed to notify each tranche of transferred bank assets to the Commission under EU State aid rules. Tranche 1 (N331/2010) and Tranche 2 (N529/2010) of the NAMA loans were approved by...

Written Answers — Department of Finance: Budget Timetable (30 Apr 2014)

Michael Noonan: As the Deputy may be aware, under an EU regulation adopted last year (Regulation (EU) No 473/2013), all Member States are required to publish their draft budget for central government and the main parameters of all other General Government sub-sectors no later than 15 October each year. While the date of Budget 2015 is yet to be decided, in light of the above...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Data (30 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the first claims for tax relief under the Home Renovations Incentive (HRI) will not be made until January 2015 and it is not possible to say at this point how many residential property owners will avail of the relief. I introduced the Home Renovations Incentive in Finance Act (No 2) 2013. It provides for tax relief for property owners by way of...

Written Answers — Department of Finance: Mortgage Interest Relief Application (30 Apr 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: Fuel Rebate Scheme (30 Apr 2014)

Michael Noonan: I introduced this scheme in the Finance Act 2013 in order to provide for a repayment to qualifying road haulage and bus operators of a part of the mineral oil tax paid on their purchases of auto-diesel for use in the course of business. The scheme does not apply to sales of petrol.   In order to address the risk of widespread abuse of the scheme, provision was made for certain...

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

Michael Noonan: The position is that autism assistance dogs are considered to be companions to autistic children and do not work in the same manner as a guide dog for a blind individual.  A blind person who maintains a trained guide dog is allowed a sum of €825 per year in computing the gross eligible health expenses.  This is the equivalent of a tax credit of €165 and is only...

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

Michael Noonan: An exemption from tax for certain providers of childcare services was introduced in 2006. This exemption was a positive measure, aimed at smaller providers of childcare services. Individuals in receipt of income from childcare services are, in general, chargeable persons. However they can claim an exemption from income tax and USC, provided:- - the gross amount of childcare income does not...

Written Answers — Department of Finance: Budget 2015 (30 Apr 2014)

Michael Noonan: As the Deputy will be aware, a carryover effect may arise as a result of a difference in the tax revenue generated from a tax measure in the year of implementation and the first year that the full impact of tax measures takes effect.  The Local Property Tax (LPT) was introduced in 2013 and the carryover will be seen this year.  Therefore, there will be no carryover in 2015. In...

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

Michael Noonan: I am informed by the Revenue Commissioners that land is a chargeable asset for capital gains tax purposes. Accordingly any chargeable gain made on a disposal of land is subject to capital gains tax. Roll-over relief has not been available in respect of any disposals of chargeable assets made on or after 4 December 2002. A chargeable gain is the difference between the sale price (net of...