Results 14,321-14,340 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: National Debt Issues (24 Oct 2013)

Michael Noonan: The table sets out the estimates of end-year National Debt for the years 2013 to 2015 consistent with the recent fiscal forecasts in Budget 2014. The end-2012 National Debt outturn is also included in the table for information. € billion (End-Year) 2012 2013* 2014* 2015* National Debt 137.6 173.8 183.6 189.8*Estimate Source: NTMA It is important to bear in mind the distinction...

Written Answers — Department of Finance: Government Deficit (24 Oct 2013)

Michael Noonan: The achievement of a primary surplus in 2014 will be a welcome milestone in the correction of the public finances. It is a key metric in assessing the underlying sustainability of Ireland’s public finances and is a necessary first step towards lowering our debt levels. It shows that excluding interest expenditure, revenues are sufficient to meet the expenditure obligations of the...

Written Answers — Department of Finance: Property Taxation Administration (24 Oct 2013)

Michael Noonan: I am advised by Revenue that it is incorrect to state that the person in question only selected one payment option when completing her 2013 Local Property Tax (LPT) Return. Revenue has examined the return submitted and has confirmed to me that the person selected three different options, including direct debit, deduction at source from her Department of Social Protection payment and payment...

Written Answers — Department of Finance: VAT Rate Application (24 Oct 2013)

Michael Noonan: European Court of Justice Case C108/2011 concerns the rate of VAT applying to (a) the supply of live horses and greyhounds, (b) the hire of horses and (c) the supply of ‘no foal, no fee’ insemination services. All of these activities, including livestock in general, are currently charged to VAT in Ireland at the super-reduced rate of 4.8% under Article 110 of the EU VAT...

Written Answers — Department of Finance: Illicit Trade in Tobacco (24 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the incidence of illicit cigarette consumption in the State is estimated on the basis of a survey of smokers carried out by IPSOS MRBI on behalf of Revenue and the National Tobacco Control Office of the HSE. The survey for 2012 indicated that 13% of all smokers were classified as having an illegal cigarette pack. The comparable figure from a...

Written Answers — Department of Finance: Crime Prevention (24 Oct 2013)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of taxes and duties and for tackling the smuggling of dutiable and prohibited goods that, following a tender process, a Scan Van was acquired by Revenue in July 2012. The Scan Van is a specialist vehicle incorporating an x-ray facility, radiation detection facilities and ionscan technology. It is used for...

Written Answers — Department of Finance: Tax Credits (24 Oct 2013)

Michael Noonan: As the Deputy is aware, the One-Parent Family Tax Credit (OPFTC) is being replaced with a new Single Person Child Carer Tax Credit from 1 January 2014. The Single Person Child Carer Tax Credit will be of the same value, i.e. €1,650, as the existing OPFTC and will also carry the same entitlement to the extended standard rate tax band of €36,800 per annum. The new credit will be...

Written Answers — Department of Finance: Government Deficit (24 Oct 2013)

Michael Noonan: As I outlined in my Budget Day speech, in order to achieve a deficit of 4.8% of GDP, a total adjustment package of the region €3.1bn was necessary. This comprised €2.5bn in expenditure cuts and tax increases complemented with additional resources/other savings of €0.6bn. A summary table of the adjustment package is outlined as follows. - €bn Expenditure...

Written Answers — Department of Finance: VAT Rate Application (24 Oct 2013)

Michael Noonan: With regard to the VAT point raised in the correspondence, regarding proposed changes to the current 4.8% bloodstock VAT rate, I would point out that European Court of Justice Case C108/2011 concerns the rate of VAT applying to (a) the supply of live horses and greyhounds, (b) the hire of horses and (c) the supply of ‘no foal, no fee’ insemination services. All of these...

Written Answers — Department of Finance: State Bodies Expenditure (24 Oct 2013)

Michael Noonan: In response to the Deputy's question I am not aware of the procurement of research grant management software by any agency under the remit of my Department.

Written Answers — Department of Finance: Tax Yield (24 Oct 2013)

Michael Noonan: Deposit Interest Retention Tax (DIRT) is contained in the income tax estimate for 2013 and 2014 shown in Table 8 on page C.15 of the recently published Budget 2014. The income tax forecast includes €500 million of DIRT in 2013. As the Deputy will be aware, the DIRT rate was increased to 41 per cent in Budget 2014 as set out in the Summary of Budget Measures. This is expected to...

Written Answers — Department of Finance: Tax Yield (24 Oct 2013)

Michael Noonan: I can inform the Deputy that €473 million was collected in respect of DIRT in 2011. However, I am informed by the Revenue Commissioners that their obligation to observe confidentiality for taxpayers and small groups of taxpayers precludes them from providing the information requested in respect of each financial institution.

Written Answers — Department of Finance: Credit Unions Regulation (24 Oct 2013)

Michael Noonan: The imposition of lending restrictions is the responsibility of the Registrar of Credit Unions, who is the independent regulator for credit unions. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. As Minister for Finance, my role...

Written Answers — Department of Finance: General Government Debt (24 Oct 2013)

Michael Noonan: The revenue figure in relation to the sale of 4G licences was previously allocated as income in 2012. In nominal terms the effect of the change in treatment was a worsening of the 2012 general government deficit by €723 million and an improvement by the same amount in 2013. As a percentage of GDP this had an approximate impact of 0.44% in both years. The amendment to the accounting...

Written Answers — Department of Finance: Government Bonds (24 Oct 2013)

Michael Noonan: I have been advised by the Central Bank that the portfolio of Government bonds now held by the Bank following the liquidation of IBRC will be sold as soon as possible, provided conditions of financial stability permit. The Bank has, however, undertaken that a minimum amount of bonds will be sold in accordance with the following schedule: to end 2014 (€0.5bn), 2015-2018 (€0.5bn...

Written Answers — Department of Finance: Departmental Budgets (24 Oct 2013)

Michael Noonan: The Department of Finance's budget and staffing allocation reflects ongoing ambitious objectives and goals, across a broad spectrum of economic, fiscal, financial and international policies, set out in its Statement of Strategy. This is particularly important as we target an exit from the EU/IMF programme of support and the Government has recognised this in the ECF numbers and resources...

Written Answers — Department of Finance: IBRC Staff (23 Oct 2013)

Michael Noonan: I am not aware of any specific proposals put forward by the Labour Relations Commission in relation to IBRC. I have been advised by the Special Liquidators that there is on-going communication between them and the staff of IBRC and their representative bodies to discuss their issues in relation to the liquidation. I acknowledge the significant efforts and commitment made by the staff in...

Written Answers — Department of Finance: Tax Collection (23 Oct 2013)

Michael Noonan: Under the regulations known as the "Two-Pack" which were formally adopted on 30 May 2013, a common budgetary timeline is being introduced for all Euro Area member states. Specifically, the draft budget for central government and the main parameters of the draft budgets for all the other sub-sectors of the general government must be published by the 15 of October each year; draft budgetary...

Written Answers — Department of Finance: Budget Measures (23 Oct 2013)

Michael Noonan: As I outlined in my budget day speech, in order to achieve a deficit of 4.8% of GDP, a total adjustment package of the region €3.1 billion was necessary. This comprised €2.5 billion in expenditure cuts and tax increases complemented with additional resources - other savings of €0.6 billion. A summary table of the adjustment package is outlined below. - €bn...

Written Answers — Department of Finance: Tax Credits (23 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that for 2013, it is currently estimated that 76,800 individuals are in receipt of the One-Parent Family Tax Credit i.e. in a position to utilise some or all of tax credit. As the Deputy is aware, the One-Parent Family Tax Credit is being replaced with a new Single Person Child Carer Tax Credit from 1 January 2014. The Single Person Child Carer Tax...