Results 16,941-16,960 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (16 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that a single figure for the number of appeals unresolved for a period in excess of ten years is likely to present a misleading picture. This is because the system used by the Revenue Commissioners to record appeals does so by reference to unsettled assessments. Thus, a single issue can give rise to a number of appeals in relation to the same...

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

Michael Noonan: Due to the urgency of the appointment of the special liquidators and for commercial and confidentiality reasons it was not possible to follow standard procurement rules in relation to this appointment. Therefore emergency procedures were followed and the special liquidators were appointed following a negotiated procedure. As the Deputy will appreciate it was of the utmost importance that...

Written Answers — Department of Finance: Tax Credits (16 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the increase in PAYE deducted from the individual's private pension for the tax year 2013 is attributable to the fact that the tax credits for 2013 have been restricted in order to collect an underpayment of tax which arose in the tax year 2011. The underpayment for 2011 arose because the Department of Social Protection pension figure included...

Written Answers — Department of Finance: Retail Sector (16 Apr 2013)

Michael Noonan: While recognising the very challenging conditions in which many firms are operating at the moment, particularly in the retail sector, it is not my intention to intervene to attempt to prohibit or limit in any way the legal sale of goods online. I do not believe that such an intervention would be either effective or sustainable. As regards the practices of UK distributors, this is primarily...

Written Answers — Department of Finance: Living City Initiative (16 Apr 2013)

Michael Noonan: Finance Act 2013 includes a section on the Living City Initiative which introduces a scheme of tax incentives focusing on the regeneration of the historic centres of some of our main cities. The scheme which will be introduced by Ministerial order, will apply in the first instance on a pilot basis only to specified regeneration areas in Waterford and Limerick. My Department has prepared an...

Credit Reporting Bill 2012: Order for Second Stage (28 Mar 2013)

Michael Noonan: I move: "That Second Stage be taken now."

Credit Reporting Bill 2012: Second Stage (28 Mar 2013)

Michael Noonan: I move: "That the Bill be now read a Second Time." The Credit Reporting Bill 2012 puts in place the legislative framework for a central repository of credit information, to be known as the central credit register. A credit register is a database of credit information based on credit applications and credit agreements. It assists lenders in making informed lending decisions and protecting...

Written Answers — Department of Finance: Property Taxation Application (28 Mar 2013)

Michael Noonan: I am informed by the Revenue Commissioners that in the circumstances outlined a person whose only income is a State pension qualifies for a full deferral of LPT. The deferred tax remains a charge on the property until the property is sold or transferred to another person. Interest will be charged on deferred amounts from the due date of payment until such time as it is paid. The daily rate...

Written Answers — Department of Finance: Property Taxation Application (28 Mar 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered and how a residential property is to be valued for LPT purposes. Section 7 of the Act provides that voluntary social housing bodies will be liable to pay the LPT on their properties in the same way as any other residential property owner, unless the properties in question are used to accommodate...

Written Answers — Department of Finance: Property Taxation Application (28 Mar 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered and provides that a liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date which will be 1 May 2013 for the year 2013 and, for subsequent years 1 November in the preceding year. Section 7 of the 2012 Act provides that local authorities...

Written Answers — Department of Finance: Mortgage Interest Relief Application (28 Mar 2013)

Michael Noonan: The position is that in Supplementary Budget 2009, mortgage interest relief was limited so that interest payable on a qualifying home loan would only qualify for tax relief for the first seven tax years of the life of that loan (7 year rule). However, in Finance Act 2010, mortgage interest relief was extended up to the end of 2017 for those whose entitlement to relief was due to end in 2010...

Written Answers — Department of Finance: Public Interest Director Responsibilities (28 Mar 2013)

Michael Noonan: I can confirm to the Deputy that nothing has been brought to my attention to suggest that the public interest director, who sits on the Group Remuneration Committee of the Bank of Ireland, is not carrying out his functions as a director in an appropriate manner. In relation to directors’ fees, the Deputy may be aware that the total directors’ remuneration fell to €2,564k...

Written Answers — Department of Finance: Banking Sector Remuneration (28 Mar 2013)

Michael Noonan: I can confirm to the Deputy that the annual fee of €59,000 received by the current Governor of the Bank of Ireland, over and above his annual non-pensionable salary, relates to a consultancy arrangement with Bank of Ireland (UK) plc. The current Governor’s non-pensionable salary is at the same level as the previous Governor’s salary. The decision to engage the current...

Written Answers — Department of Finance: Tax Rebates (28 Mar 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the delay in this case arose in part from the need for additional supporting documentation. The relevant tax return (for 2011) was submitted through ROS by the taxpayer's agent on 15th November 2012. Revenue advised the agent on 4th December 2012 of the need for further documentation, and the requested documentation was received on February...

Written Answers — Department of Finance: Betting Legislation (28 Mar 2013)

Michael Noonan: Betting is the only form of gambling subject to taxation in the form of excise duty. The Finance Act 2011 provides for the taxation of bets that remote bookmakers enter into with persons in the State. This means, for example, that a business which engages in online bookmaking and which accepts bets from people in this country will be liable for betting duty on those bets, irrespective of...

Written Answers — Department of Finance: Fuel Laundering (28 Mar 2013)

Michael Noonan: I am advised by the Revenue Commissioners, who have responsibility for the collection of mineral oil tax and for tackling the illicit trade in mineral oil products, that they are very aware of the threat that illegal activity in diesel and other fuel products poses to the Exchequer and to legitimate businesses. The main form of criminality in this area is the laundering of marked gas oil...

Written Answers — Department of Finance: Tax Collection (28 Mar 2013)

Michael Noonan: I am advised by the Revenue Commissioners that they registered the person concerned for income tax in May 2010, following receipt of a notification from that person that they had commenced to trade on 26 April 2010. I am further advised that the Revenue Commissioners have not been informed that trading has ceased and they have accordingly written to the person concerned for clarification.

Written Answers — Department of Finance: Mortgage Resolution Processes (27 Mar 2013)

Michael Noonan: The Deputy will be aware that on 13 March 2013 the Central Bank announced new measures to address mortgage arrears, including the publication of performance targets for the main mortgage banks. The targets are set in relation to both Principal Dwelling Homes and Buy to Let mortgages. The new approach is aimed at ensuring that banks offer and conclude sustainable solutions for their customers...

Written Answers — Department of Finance: Property Taxation Application (27 Mar 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered and provides that a liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date which will be 1 May 2013 for the year 2013 and for subsequent years 1 November in the preceding year. Section 7 of the 2012 Act provides that local authorities...

Written Answers — Department of Finance: Property Taxation Collection (27 Mar 2013)

Michael Noonan: According to Budget estimates the Local Property Tax is expected to generate an overall yield of €250 million in 2013 and €500 million in 2014. I am advised by the Revenue Commissioners that it is not possible to provide a breakdown of these estimates on a regional or administrative basis until Local Property Tax returns are filed and payments made by liable persons.