Results 14,401-14,420 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Portfolio Issues (16 Oct 2013)

Michael Noonan: As the Deputy will be aware, given the independence afforded to NAMA by the NAMA Act, and having established NAMA’s mandate through legislation, I have no role as Minister for Finance in relation to strategies applied by NAMA in fulfilling that mandate. NAMA’s role is that of a secured lender, like any bank they own the debt while the debtor or appointed liquidator still owns...

Written Answers — Department of Finance: Social Insurance Rates (16 Oct 2013)

Michael Noonan: The position is that it is the standard practice for the Minister for Finance to review all tax expenditures and reliefs including PRSI in the run up to annual Budget. On foot of the reviews carried out by my Department, yesterday I announced in my Budget Speech a package of 25 measures costing over €500m to promote jobs and growth. I believe that these measures will assist new...

Written Answers — Department of Finance: VAT Rate Application (16 Oct 2013)

Michael Noonan: As I announced in the Budget, the 9% VAT rate on tourism related activity will be retained.

Written Answers — Department of Finance: IBRC Liquidation (16 Oct 2013)

Michael Noonan: The Special Liquidators have confirmed that Irish Bank Resolution Corporation Limited (the “Bank”) identified in June 2010 that it had a customer overcharging issue (i.e. there had been a difference between the interest rate charged to customers and the interest rate documented in the corresponding loan facility agreements) on customer loan accounts in the Republic of Ireland,...

Written Answers — Department of Finance: VAT Rate Reductions (16 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. The EU VAT Directive (Council Directive 2006/112/EC) generally provides that supplies of goods and services be chargeable to VAT at the standard rate but that lower rates are permitted in very limited circumstances. Food...

Written Answers — Department of Finance: Insurance Coverage (16 Oct 2013)

Michael Noonan: It should be noted at the outset that neither I nor the Central Bank can compel insurers to quote for business. The decision to provide any specific form of insurance cover and the price at which it is offered is a commercial matter based on the assessment an insurer will make of the risks involved. I understand that insurance companies as a matter of course carry out reviews of the risks...

Written Answers — Department of Finance: Legislative Programme (16 Oct 2013)

Michael Noonan: In response to the Deputy's question my Department has published 15 bills and 3 impact assessments since March 2011. Details of the bills and impact assessments are as follows: Bills Finance (No. 2) Bill 2011 Finance (No. 3) Bill 2011 Insurance (Amendment) Act 2011 Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011 Central Bank (Supervision and Enforcement) Bill...

Written Answers — Department of Finance: Tax Rebates (16 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that on 20th December 2012 the Taxpayer’s agent submitted a claim for Incapacitated Child Tax Credit for the four years covering 2008 to 2011 inclusive. Additional information requested in support of the claims was submitted to Revenue on 24th April 2013. The Incapacitated Child Tax Credit claimed was granted on 11th May 2013 and the Income Tax...

Written Answers — Department of Finance: Credit Unions Regulation (16 Oct 2013)

Michael Noonan: I have been advised by the Central Bank that where proof of identity is required, the industry standard is to adopt a “One plus One” approach meaning that one item should be sought from a list of official photographic identification documents such as a passport to verify the name and date of birth of a prospective customer, while a second item should be sought from a list of...

Written Answers — Department of Finance: Tax Compliance (16 Oct 2013)

Michael Noonan: It is not clear what the Deputy has in mind when he refers to tax fraud by category, but it is widely accepted that there is no absolute and comprehensive way to measure the potential State revenues lost through tax non-compliance. However, that which can be measured is the tax, together with associated interest and penalties, recovered by the Revenue Commissioners from the compliance...

Written Answers — Department of Finance: Tax Reliefs Application (16 Oct 2013)

Michael Noonan: As I pointed out in previous replies to PQs tabled by the Deputy in June of this year and earlier this month, I made provision in Budget 2013 for the following measure designed to assist farmers with consolidation of farm land. This measure followed on from measures in the previous year’s Budget which also supported farm expansion and the transfer of land. Section 48 of Finance Act...

Financial Resolutions 2014 - Budget Statement 2014 (15 Oct 2013)

Michael Noonan: Will Deputy McGrath support it?

Financial Resolutions 2014 - Budget Statement 2014 (15 Oct 2013)

Michael Noonan: They are.

Financial Resolutions 2014 - Budget Statement 2014 (15 Oct 2013)

Michael Noonan: This will support the increased number of jobs already in place and accelerate the creation of new jobs. To further support the tourism sector, I have also decided to reduce the air travel tax to zero with effect from 1 April 2014.

Financial Resolutions 2014 - Budget Statement 2014 (15 Oct 2013)

Michael Noonan: I expect the airlines to utilise this initiative to develop new routes and build traffic volumes, thereby helping tourism, and I have reason to believe they will do so. Agrifood and Fisheries The agrifood and fisheries sector is Ireland's largest indigenous industry, employing 150,000 people, producing an annual output of €24 billion and exporting €9 billion worth of goods to...

Financial Resolutions 2014 - Budget Statement 2014 (15 Oct 2013)

Michael Noonan: The objective of the review is to identify what works and what does not, and to redirect the existing level of tax expenditure towards achieving maximum benefit in this sector of the economy.

Financial Resolutions 2014 - Budget Statement 2014 (15 Oct 2013)

Michael Noonan: This review follows recent reviews of property, film and research and development tax expenditures. Any recommendations will be considered in the context of budget 2015. I also wish to announce that the farmers' flat rate addition will be increased to 5% from 4.8% with effect from 1 January 2014. This scheme compensates farmers for VAT incurred on their farming inputs. In addition, I am...

Financial Resolutions 2014 - Budget Statement 2014 (15 Oct 2013)

Michael Noonan: The story of insolvent Ireland is familiar to all our people and the sacrifices people have made in recent years are well known. Reckless policies were pursued by the Fianna Fáil-led Government. This continued until Ireland was no longer able to borrow on the international markets and the Government had to turn to the lenders of last resort. The help from the IMF and the European...

Written Answers — Department of Finance: Money Laundering (15 Oct 2013)

Michael Noonan: Officials of my Department are continuing to explore with the National Treasury Management Agency (NTMA) whether or not exemptions available under the Third Money Laundering Directive (2005/60/EC) and its Implementing Directive (2006/70/EC) may be applied to small value purchases of prize bonds facilitated on behalf of the State by An Post and the Prize Bond Company.

Written Answers — Department of Finance: Property Taxation Administration (15 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 14 and 15 together. I am informed by the Revenue Commissioners that the difficulties in both cases arose as a consequence of processing errors. In both cases the persons in question filed their LPT Returns within the specified time limits. However, the returns did not automatically upload to the Property Register because the details supplied did not match...