Results 16,341-16,360 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Collection (2 May 2013)

Michael Noonan: This is a matter for the Revenue Commissioners. Firstly, I would like to briefly comment on Revenue’s approach to tax collection and in particular its overall compliance and debt management approach. Revenue has a strong focus on making sure that every individual and business complies with the responsibility to pay the right amount of tax or duty including interest and penalties,...

Written Answers — Department of Finance: Tax Credits (2 May 2013)

Michael Noonan: Sections 472A and 88A of the Taxes Consolidation Act 1997 provide tax incentives for both employees and employers, to help the long-term unemployed to return to employment. The relief under Section 472A, commonly known as the Revenue Job Assist scheme, allows qualifying employees, in addition to their normal tax credits, to claim certain income deductions, including additional deductions for...

Written Answers — Department of Finance: Public Sector Pensions Expenditure (2 May 2013)

Michael Noonan: The Department of Public Expenditure and Reform have advised my Department that the information sought by the Deputy in respect of my Department will be supplied by their Minister to the Deputy. I am only responding on behalf of the Revenue Commissioners. The Revenue Commissioners have provided my Department with the information in the table set out below in response to the Deputy’s...

Written Answers — Department of Finance: Property Taxation Exemptions (1 May 2013)

Michael Noonan: I draw the Deputy’s attention to my reply to a similar Question raised by him yesterday, Tuesday 30 April, where I clarified that there is no specific exemption from LPT for protected buildings or listed buildings. Owners of these residential properties are liable to pay the tax on their properties in the same way as any other residential property owner. As LPT is a self-assessed...

Written Answers — Department of Finance: Departmental Schemes (1 May 2013)

Michael Noonan: The Employment and Investment Incentive (EII) and Seed Capital Scheme (SCS) commenced on 25 November 2011. Prior to this the Business Expansion Scheme (BES) was in operation. For the year 2012 the estimated cost to the Exchequer for the EII was €4m in respect of €13.4m invested by 376 investors. The cost of the BES scheme was €12.9m in respect of €31.5m invested...

Written Answers — Department of Finance: Tax Compliance (1 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners statistics are not maintained centrally in a manner which would enable this question to be answered in the time allowed. By way of general comment, the Commissioners have advised me that, in relation to returns filing prosecutions, the number of instances where the taxpayer/defendant was acquitted would be very low. For example, in the Dublin area,...

Written Answers — Department of Finance: State Banking Sector (1 May 2013)

Michael Noonan: Allied Irish Banks (AIB) announced on 24 April 2013 that the annual cash dividend of €280 million on the €3.5 billion 2009 Non Cumulative Preference Shares held by the National Pensions Reserve Fund Commission (NPRFC) on behalf of the Irish State, due 13 May 2013 will not be paid. As a result AIB becomes obliged to issue and allot ordinary shares to the NPRFC in accordance with...

Written Answers — Department of Finance: Property Taxation Application (1 May 2013)

Michael Noonan: I confirm I have received the letter mentioned by the Deputy. The position is as follows. The Government decided that a universal liability should apply to all owners of residential property with a limited number of exemptions, in order to keep the rate of the tax as low as possible. There is no reduced rate for residents of islands per se. The LPT is a self-assessed tax and it is a...

Written Answers — Department of Finance: Banking Operations (1 May 2013)

Michael Noonan: Currently any Irish citizen can open a bank account upon proof of address and identity. When opening a current bank account the bank is obliged to comply with identification requirements of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. Customers can present a wide range of forms of photographic identification and proof of address. Indeed the General Principles of...

Written Answers — Department of Finance: Mortgage Debt (1 May 2013)

Michael Noonan: The Central Bank has information me that the number of mortgage accounts for both banks and retail credit firms and outstanding balances at December 2012 are as follows: Banks Number of Accounts Outstanding Balance €(000) Total 774,765 107,395,205 In arrears over 90 days 86,422 (10·88%) 15,662,222 Retail Credit Firms - - Total 17,331 3,387,384 In arrears over 90 days...

Written Answers — Department of Finance: Tax Code (1 May 2013)

Michael Noonan: The position is that current tax legislation does not recognise civil solidarity pacts such as are available in France or other countries. Where a couple is cohabiting rather than married or in a civil partnership they are treated as separate and unconnected individuals for the purpose of income tax. Each partner is a separate entity for tax purposes and, therefore, cohabiting couples cannot...

Written Answers — Department of Finance: Property Taxation Collection (1 May 2013)

Michael Noonan: The Revenue Commissioners have made a wide range of payment options available, which means liable persons can choose a method of payment that suits their circumstances. The Local Property Tax (LPT) can be paid by way of phased payments or in full – for example, by way of a Single Debit Authority which is the equivalent of an electronic cheque. The Single Debit Authority option is...

Written Answers — Department of Finance: Tax Residency Issues (1 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that for the tax year 2011, the latest year for which figures are available, the number of persons who have filed tax returns indicating that they are non-resident for tax purposes is 12,073. It is important to note that the circumstances of individuals who are non-resident for tax purposes but who file tax returns can vary widely. They include, for...

Written Answers — Department of Finance: Banking Operations (1 May 2013)

Michael Noonan: I, as Minister for Finance, have no statutory role in relation to regulated financial institutions refusing to accept lodgements of packs of coins as raised by the Deputy. It is a commercial matter for each institution concerned how it conducts individual transactions. However, I have been advised by the Central Bank that Section 10 of the Economic and Monetary Union Act 1998 states that:...

Written Answers — Department of Finance: Property Taxation Administration (1 May 2013)

Michael Noonan: I propose to take Questions Nos. 87 and 92 together. A key aspect of the work undertaken by Revenue was the development of a comprehensive register of residential properties in the State. I am informed by the Revenue Commissioners that since 11 March 2013 Revenue has used this Register to issue LPT Returns and supplementary information to owners of 1.66 million residential properties. The...

Written Answers — Department of Finance: Carbon Tax Collection (1 May 2013)

Michael Noonan: Solid fuel carbon tax will be charged on all solid fuels supplied in the State, regardless of whether the fuel products are Irish made or imported. Solid fuel is defined under section 77 of the Finance Act 2010, as amended and means coal or peat. Coal is further defined to include coal and lignite, solid fuel manufactured from coal and lignite, and any other energy product within the...

Written Answers — Department of Finance: Bond Redemption (1 May 2013)

Michael Noonan: The Deputy will be aware that my Department has already provided details of bonds held and redeemed by the covered institutions. The responses to PQ numbers 38256/12, 36107/12, 19595/12, 7451/12, 5160/12, 4207/12, 34441/11, provide a comprehensive list of the bonds, value date, maturity date etc. on an institution by institution basis for specific dates as well as the position in relation to...

Written Answers — Department of Finance: National Payments Plan Implementation (1 May 2013)

Michael Noonan: In 2011, I requested that the Central Bank examine ways to improve Ireland's payment infrastructure. The Central Bank established a Steering Committee which prepared and submitted the National Payments Plan to me. Government subsequently approved the plan in April 2013. A copy has been sent to all TDs and Senators and is available online at . The National Payments Plan will target...

Written Answers — Department of Finance: Property Taxation Collection (1 May 2013)

Michael Noonan: The Savings Stamps Scheme is a matter for An Post. I am advised by An Post that the scheme is a facility for customers to save up amounts for the sole purpose of making a deposit to a Post Office Savings Scheme, and that Savings Stamps are primarily bought by school children in schemes operated by many primary schools. Savings Stamps cannot be redeemed for cash or used as a payment method...

Written Answers — Department of Finance: Tax Rebates (1 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the medical expenses claim submitted by the person concerned for 2012 has been processed and a refund will issue shortly. The refund being issued will be adjusted to take account of a small amount of tax due for 2011 and was previously notified to the taxpayer.