Results 19,061-19,080 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (27 Nov 2012)

Michael Noonan: The relevant section - “Is the IFSC and Ireland a tax haven?” - of the TASC report referred to by the Deputy acknowledges that, by reference to the standards established by international organisations such as the OECD, Ireland is not a tax haven. The standards established by the OECD are the most widely accepted standards by which countries assess their tax systems and those...

Written Answers — Department of Finance: Tax Collection (27 Nov 2012)

Michael Noonan: I wish to advise the Deputy that Ireland’s corporation tax regime is open and transparent and that companies are fully chargeable to corporation tax at the 12½% rate on profits arising from their trading activities here. A higher 25% rate applies in respect of investment, rental and other non-trading profits as well as profits from certain petroleum, mining or land trading...

Written Answers — Department of Finance: Tax Code (27 Nov 2012)

Michael Noonan: As the incoming EU Presidency, Ireland will be working closely with fellow Member States and the European Commission on the Commission’s forthcoming Communication on Aggressive Tax Planning. We plan to devote a number of official level meetings to this topic during our Presidency. Ireland just like other Member States believes in fair tax competition but, building on the work of the...

Written Answers — Department of Finance: Company Closures (27 Nov 2012)

Michael Noonan: I have been advised by the Central Bank that, on 16 April 2012, an official liquidator was appointed to the company mentioned by the Deputy. As such, it is the responsibility of the liquidator to establish the amounts owed to each customer of the company and to distribute accordingly. I have no role with regard to such distribution.

Written Answers — Department of Finance: Mortgage Arrears (27 Nov 2012)

Michael Noonan: The Central Bank of Ireland publishes quarterly arrears data in respect of all mortgage types on its website at www.centralbank.ie. The latest figures were published in June 2012 and the Central Bank has advised me that its next quarterly arrears publication for end quarter three will be published in December. However, the Central Bank has advised me that it does not collect the arrears data...

Written Answers — Department of Finance: Economic Statistics (27 Nov 2012)

Michael Noonan: Ireland is generally considered to be a particularly open economy with imports accounting for over three quarters of GDP. A considerable share of spending by households and firms leaves the economy on imported goods and services, while at the same time a considerable share of the outputs of Irish firms is exported abroad leading to payment coming into Ireland. In relation to SITC 054.61...

Written Answers — Department of Finance: Vehicle Registration (27 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 262 and 267. I understand the Deputy’s question to refer to proposals contained in SIMI’s pre-Budget submission. Such proposals, together with a wide range of proposals submitted to my Department from a large number of interested parties in issues across all tax heads, are being considered in the context of the forthcoming Budget. I am sure...

Written Answers — Department of Finance: Tax Code (27 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 263, 264 and 266 together. These questions relate to potential Budgetary measures. It is the usual practice for the Minister for Finance not to speculate or comment in advance of the Budget what it will contain and I do not propose to deviate from that practice.

Written Answers — Department of Finance: Budget Submissions (27 Nov 2012)

Michael Noonan: I have received a pre-Budget submission from the Solid Fuel Trade Group. Its contents will be considered in the context of the forthcoming Budget and Finance Bill. As Deputies are aware it would not be appropriate for me to comment in advance on possible Budget decisions.

Written Answers — Department of Finance: Departmental Agencies (27 Nov 2012)

Michael Noonan: In response to the Deputy’s question one new body was established under the aegis of my Department in 2012. Details of the body are contained in the following table: Name of Body Established No of new Employees The Credit Union Restructuring Board Established in 2012 on an administrative basis under the Dept of Finance pending enactment of the Credit Union Bill 2012 It has no...

Written Answers — Department of Finance: Carbon Budget (22 Nov 2012)

Michael Noonan: This question relates to a potential Budgetary measure. It is the usual practice for the Minister for Finance not to speculate or comment in advance of the Budget on what it will contain and I do not propose to deviate from that practice.

Written Answers — Department of Finance: Child Benefit Eligibility (22 Nov 2012)

Michael Noonan: As the Deputy will be aware, the position is that there is no specific proposal in the Programme for Government to means test or tax child benefit payments. It is a longstanding practice of the Minister for Finance not to comment in advance of the Budget on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Mortgage Interest Relief (22 Nov 2012)

Michael Noonan: The position is, as I stated in my Budget day speech on 6 December 2011, and on many occasions in this House since, that mortgage interest relief for principal private residences will no longer be available to house purchasers who purchase after the end of 2012 and will be fully abolished from 2018. This means that a loan will have to be drawn down on or before 31 December 2012 in order to...

Written Answers — Department of Finance: Tax Code (22 Nov 2012)

Michael Noonan: The current system of taxation provides that tax is to be charged on an individual’s income, or the joint income of a couple at the following rates: - A single or widowed individual or a surviving civil partner without qualifying children; the first €32,800 @ 20%, with any balance @ 41%. - A single or widowed individual or a surviving civil partner qualifying for One Parent...

Written Answers — Department of Finance: Mortgage Interest Relief (22 Nov 2012)

Michael Noonan: The position is, as I stated in my Budget day speech on 6 December 2011, and on many occasions in this House since, that mortgage interest relief for principal private residences will no longer be available to house purchasers who purchase after the end of 2012 and will be fully abolished from 2018. This means that a loan will have to be drawn down on or before 31 December 2012 in order to...

Written Answers — Department of Finance: Black Economy (22 Nov 2012)

Michael Noonan: I am advised by the Revenue Commissioners that they are fully aware of the unfair competitive advantage to be gained by those businesses that do not fulfil their tax obligations. It is the role of Revenue to ensure that all businesses, regardless of the type of activity they are engaged in, are registered for the appropriate taxes and duties, and that they fulfil their obligations with regard...

Written Answers — Department of Finance: Job Losses (22 Nov 2012)

Michael Noonan: The sale of the Quinn Insurance Ltd (QIL) to Liberty Insurance was a matter for the Joint Administrators subject to the approval of the High Court. As Minister for Finance I was not a party to the transaction. Consequently, I sought clarification from the QIL Joint Administrators on whether any commitment was given by Liberty Insurance at the time of the sale in relation to the retention of...

Written Answers — Department of Finance: Tax Compliance (22 Nov 2012)

Michael Noonan: I am advised by the Revenue Commissioners that their tax and duty compliance programmes are under constant review to ensure that they are focused on the areas of greatest risk, including risks from fraudulent activity. In the construction sector, Relevant Contracts Tax (RCT) applies to payments made by a principal contractor to a subcontractor under a relevant contract (this is a contract...

Written Answers — Department of Finance: Tax Code (22 Nov 2012)

Michael Noonan: Without specific details, it is not possible to estimate the effect on inflation of a sugar tax. With regard to reducing the VAT rate on healthier foods, I would point out that the VAT rating of various foods already provides for such a distinction. Most food products sold by retail shops are liable to VAT at the zero rate, including basic foodstuffs, for example, bread, butter, tea,...

Written Answers — Department of Finance: Banking Sector Remuneration (22 Nov 2012)

Michael Noonan: I refer the Deputy to PQs 48795, 49499, 50511 and 50513 which I have answered in the last few weeks and which provide information on the basic salaries in the covered banking institutions. With reference to the further information requested the Deputy will be aware officials in my Department and Mercer have been working on a remuneration review of the Covered Banks and do not currently have...