Results 18,381-18,400 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (23 Jan 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the person in question has been in contact with his local Tax District and following clarification regarding his own and his spouse’s pensions from the Department of Social Protection, an amended tax credit certificate issued on 15 January 2013. The certificate outlines his tax credits and the reduction in respect of the pensions. Any...

Written Answers — Department of Finance: Tax Code (23 Jan 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the spouse of the person in question has been in contact with their local Tax District. Following clarification regarding their pensions from the Department of Social Protection and her spouse’s occupational pension, an amended tax credit certificate issued on 16 January 2013. The certificate outlines the person’s tax credits and...

Written Answers — Department of Finance: Illicit Trade in Tobacco (23 Jan 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the number of calls received through their tobacco hotline in 2010, 2011 and 2012, were 197, 97 and 137, respectively. Revenue’s experience is that very few calls are specific enough to lead directly to seizures, but in the relevant years 9, 4 and 5 seizures respectively were as a direct result of calls to the hotline. It has not been...

Written Answers — Department of Finance: Tax Reliefs (23 Jan 2013)

Michael Noonan: Section 14 of Finance Act 2012 introduced the Special Assignee Relief Programme which is designed to reduce the cost to employers of assigning key individuals in their companies from abroad to take up positions in the Irish based operations of their employer. Paragraph 10 of Section 14 provides that relevant employers must submit an annual return to the Revenue Commissioners detailing, inter...

Written Answers — Department of Finance: Tax Code (23 Jan 2013)

Michael Noonan: The Government is committed to helping homeowners in distress to weather the recession, and to ensuring that Ireland has a sustainable housing policy. A range of measures are being advanced in this area including personal insolvency reform, the implementation of the “mortgage to rent” initiative, engagement with mortgage lenders on the development and implementation by them of...

Written Answers — Department of Finance: Corporate Tax Regime (22 Jan 2013)

Michael Noonan: My Department is aware of the need to maintain a competitive corporate tax regime and to that end, closely monitors developments in other countries. However, it is not appropriate to single out any particular country or corporate tax system and comment on them in this way. The changes that I announced in Budget 2013 highlight the on-going work by my Department to make sure that the Irish...

Written Answers — Department of Finance: Property Taxation (22 Jan 2013)

Michael Noonan: There is no specific exemption from the Local Property Tax for thatched cottages. The inter-Departmental Group chaired by Dr Don Thornhill on the design of a property tax (the “Thornhill Group”) considered that the local property tax should be centred on the principles of equity, transparency and simplicity. In terms of these principles, it was also considered that a universal...

Written Answers — Department of Finance: Motor Insurance Regulation (22 Jan 2013)

Michael Noonan: At the outset, the Deputy should note that in my role as the Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. The day-to-day responsibility for the supervision of financial institutions is a matter for the Central Bank which is statutorily independent in the exercise of its regulatory functions. The Central Bank has...

Written Answers — Department of Finance: Financial Services Regulation (22 Jan 2013)

Michael Noonan: I meet with the Deputy Governor of the Central Bank, Mr. Elderfield, routinely on a near monthly basis as we are both members of the Cabinet sub-committee on Mortgage Arrears and Mr. Elderfield has also joined me, on occasion, in attending the special ECOFIN meetings such as the one held on 21 and 22 October 2011. Since 2010, with the amalgamation of the Financial Regulator and the Central...

Written Answers — Department of Finance: Property Taxation (22 Jan 2013)

Michael Noonan: I propose to take Questions Nos. 202 and 218 together. A residential property is defined in the Local Property Tax legislation to include not just the dwelling house itself but also any other buildings or structures and any land that, in a broad sense, belongs with the dwelling house and that are enjoyed as an amenity rather than used for a commercial purpose. These are regarded as an...

Written Answers — Department of Finance: Property Tax Deferrals (22 Jan 2013)

Michael Noonan: I am advised by the Revenue Commissioners that Part 12 of the Finance (Local Property Tax) Act 2012 sets out the conditions for deferral of the charge. Where the residential property is the sole or main residence of a liable person and their estimated gross income from all sources does not exceed €15,000 for a single person or €25,000 for a couple during the year covered by the...

Written Answers — Department of Finance: Energy Taxes (22 Jan 2013)

Michael Noonan: I assume the Deputy is referring to the Commission proposal to revise the Energy Tax Directive (Directive 2003/96/EC). Discussions of the Commission proposal have been ongoing since it first appeared in April 2011 at the Council Working Party on Tax Questions. The Directive covers, inter alia, minimum rates on all energy products which includes auto fuels. It should be noted that, in terms...

Written Answers — Department of Finance: Income Statistics (22 Jan 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the latest relevant sector-based information available on income earners in the tax system is derived from income tax returns filed for the income tax year 2010 and represents about 95 per cent of all returns expected at the time the data was compiled for analytical purposes. The data relating to the public sector includes individuals in...

Written Answers — Department of Finance: Property Taxation (22 Jan 2013)

Michael Noonan: Section 146 provides for a monetary penalty where a liable person fails to deliver a statement of particulars in relation to Local Property Tax to the Revenue Commissioners or, having submitted an incomplete or incorrect statement fails to remedy these defects within a reasonable time of being requested to do so. The amount of any penalty that may be imposed is equivalent to the Local...

Written Answers — Department of Finance: Pension Provisions (22 Jan 2013)

Michael Noonan: The transfer of an occupational pension scheme member’s pension fund benefits or a Personal Retirement Savings Account (PRSA) contributor’s PRSA assets to an overseas pension arrangement is permitted, subject to the transfer complying with the Department of Social Protection’s “Occupational Pension Schemes and Personal Retirement Savings Accounts (Overseas Transfer...

Written Answers — Department of Finance: Government Bonds (22 Jan 2013)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that euro area countries issue their bonds under domestic law and this is the market standard for direct issuance. Certain NTMA borrowing programmes however are issued under non-Irish law. For example, the Global Medium-Term Note (GMTN) programme and the Euro Commercial Paper (ECP) programme are governed by English law, which is...

Written Answers — Department of Finance: Intestate Estates (22 Jan 2013)

Michael Noonan: The following is the information requested by the Deputy. Year Payments in Number of Estates Payments out 2006 €572,804.39 163 €40,526.58 2007 €222,713.99 8 €4,437,593.25* 2008 €533,193.46 493 (est)** €89,274.86 2009 €371,286.90 187 €294,316.05 2010 €213,082.76 153 €87,340.57 2011 €227,507.10 149...

Written Answers — Department of Finance: State Banking Sector (22 Jan 2013)

Michael Noonan: As the Deputy will be aware Permanent TSB manages its distressed loan portfolio from a dedicated Asset Management Unit (AMU) which Permanent TSB informs me has been developed in line with best international practice especially for this purpose. I have been informed by the bank that, while the AMU is built around the bank’s customer services team, as part of its operations the unit...

Written Answers — Department of Finance: Tax Code (22 Jan 2013)

Michael Noonan: I provided assurance to the tourist industry that the 9% rate will continue throughout 2013 as currently legislated for. Any proposals to maintain the 9% rate into 2014 will be considered in the context of Budget 2014.

Written Answers — Department of Finance: Tax Rebates (22 Jan 2013)

Michael Noonan: The proposal to introduce an auto-diesel excise duty relief for licensed road hauliers that I announced in the Budget is confined to licensed and tax compliant hauliers. However, I have received a number of submissions from, and on behalf of, private coach operators seeking to have this relief extended to them. I will consider these proposals and the level of the rebate in the context of the...