Results 19,661-19,680 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: VAT Rates (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 244 and 245 together. I am advised by the Revenue Commissioners that the VAT treatment of motor vehicles is subject to European VAT law with which Irish VAT law must comply. Under EU law, the circumstances in which a particular supply is made will determine the VAT treatment to be applied to it. The terms, 'used vehicle' or 'second-hand vehicle', apply...

Written Answers — Department of Finance: Regulation of Accountants (6 Nov 2012)

Michael Noonan: As I informed you in my reply to you on the 18th September 2012 in relation to your earlier related question [Ref No: 48350/12], where a taxpayer engages the services of an accountant in relation to taxation matters, that contractual relationship is a private one between the taxpayer and the accountant – the Revenue Commissioners are not involved. Accordingly, it is considered that the...

Written Answers — Department of Finance: Budget Submissions (6 Nov 2012)

Michael Noonan: I have received a pre-Budget submission from the Society of St. Vincent de Paul. 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 of the Budget on possible Budget decisions.

Written Answers — Department of Finance: Budget 2013 (6 Nov 2012)

Michael Noonan: Last November's Medium-Term Fiscal Statement estimated that revenue raising measures of €1.25 billion would be required as part of the overall consolidation package in 2013 in order to adhere to the 2013 General Government deficit limit of 7.5% of GDP. It was estimated at that time that this would be made up of €0.95 billion in new revenue measures introduced in 2013 and...

Written Answers — Department of Finance: Universal Social Charge (6 Nov 2012)

Michael Noonan: The position is that for 2012 individuals are liable to pay the Universal Social Charge if their income exceeds the threshold of €10,036 per annum. As the taxpayer's gross income from a pension fund exceeds this threshold, the taxpayer is liable to pay Universal Social Charge of 2% on the first €10,036, and 4% on the balance of the taxpayer's gross pension.

Written Answers — Department of Finance: Mortgage Arrears (6 Nov 2012)

Michael Noonan: The Central Bank has advised me that it will be formally publishing statistics on buy-to-let arrears before the end of this year. The Central Bank has stressed that the data it currently has on buy-to-let arrears are provisional and are based on best estimates at present. At the end June 2012, there were approximately 150,000 residential mortgage accounts for buy-to-let properties held...

Written Answers — Department of Finance: Universal Social Charge (6 Nov 2012)

Michael Noonan: The current minimum wage is €8.65 per hour. On an annualised basis, this is equivalent to €17,542 assuming a 39 hour working week. I am advised by the Revenue Commissioners that the additional numbers of income earners that would be exempted from the Universal Social Charge (USC) if the existing exemption threshold of €10,036 per annum was increased to €17,542...

Written Answers — Department of Finance: North-South Implementation Bodies (6 Nov 2012)

Michael Noonan: As the Deputy may be aware the North South Co-operation unit which was in the Department of Finance, transferred with its responsibilities, to the Department of Public Expenditure and Reform, when that department was established. Up until then Officials within my Department worked closely with the Department of Finance and Personnel (DFP) in Northern Ireland as joint sponsors of the Special...

Written Answers — Department of Finance: Bullying in the Workplace (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 254 and 255 together. As the Deputy will be aware under the Relationship Frameworks agreed between myself and the Covered Banks responsibility for the day-to-day operations of each Bank rests with the Board of the Bank. The Banks are obligated to notify me of a number of matters under the terms of their respective Relationship Frameworks. However some of the...

Written Answers — Department of Finance: National Asset Management Agency (6 Nov 2012)

Michael Noonan: The National Asset Management Agency informs me that since its inception it has, through the National Treasury Management Agency, recruited 227 staff, 14 of whom have been recruited directly from the Irish Bank Resolution Corporation or its predecessor entities.

Written Answers — Department of Finance: Banking Sector Staff (6 Nov 2012)

Michael Noonan: I am advised by Bank of Ireland that the information the Deputy seeks is as follows: Period Staff Costs (€m) * Reported Staff Numbers at period end 6 Months ended 30 June 2012 443 13,397 Year ended 31 Dec 2011 862 13,234 12 month period ended 31 Dec 2010 1,003 14,235 9 month period ended 31 Dec 2009** 780 14,847 For the year ended 31 March 2009 1,197 15,487 *...

Written Answers — Department of Finance: Banking Sector Staff (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 258 and 259 together. I have been advised by the bank of the following information regarding the number of employees and remuneration for Anglo Irish Bank, Irish Nationwide and IBRC. 12 mths 12 mths 15 Mths 12 mths 12 mths 6 mths Sep-07 Sep-08 Dec-09 Dec-10 Dec-11 Jun-12 Anglo / IBRC Staff Costs €'m €'m €'m...

Written Answers — Department of Finance: Banking Sector Staff (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 260 and 261 together. I am advised by the institution that the information the Deputy seeks is as follows: Period/Institution Staff Costs (€m) * Average number of Staff reported at period end 6 Months ended 30 June 2012 (Ptsb) 72 2,176 Year ended 31 Dec 2011 (IL&P) 410 4,323 Year ended 31 Dec 2010 (IL&P) 342 4,338 Year ended 31...

Written Answers — Department of Finance: Banking Sector Staff (6 Nov 2012)

Michael Noonan: I can inform the Deputy that Irish Life provides disclosure on the number of its employees and the total remuneration each year in its financial statements. It does not disclose this information in its interim accounts. The total wages and salaries for staff in 2011 was €138 million and the average number of employees for that year was 2,185. The Deputy will find this and additional...

Written Answers — Department of Finance: Banking Sector Staff (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 263 to 265, inclusive, together. I am advised by Allied Irish Banks that the information requested by the Deputy is as follows: AIB Group – Incl. EBS Period Staff Costs (€m)* Average FTE ** 6 months ended 30 June 2012 730 14,840 Year ended 31 December 2011 956 14,612 AIB Group- continuing operations (BZWBK has been excluded for all...

Written Answers — Department of Finance: Tax Code (6 Nov 2012)

Michael Noonan: It is a long-standing 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. However, the Deputy will be aware of the high income individuals’ restriction, which is already in place. The most recent report by the Revenue Commissioners on the restriction is in respect of the 2010 tax year. This...

Written Answers — Department of Finance: Universal Social Charge (6 Nov 2012)

Michael Noonan: The position is that payments made in lieu of Department of Social Protection payments, such as Community Employment Schemes paid by the Department of Jobs, Enterprise and Innovation, are exempt from the Universal Social Charge. I am advised by the Revenue Commissioners that Revenue records indicate that the individual concerned commenced with the employment scheme on 15 Oct 2012 and was...

Written Answers — Department of Finance: Tax Reliefs (6 Nov 2012)

Michael Noonan: The Department of Finance conducted an extensive economic impact assessment during the summer and autumn of 2011 relating to “legacy” property-based tax relief schemes. This involved: -An analysis of all available data from the Revenue Commissioners on claims to date in respect of legacy property reliefs; -An analysis of Central Bank and financial institution data in respect of...

Written Answers — Department of Finance: Tax Reliefs (6 Nov 2012)

Michael Noonan: The level at which interest repayments can be claimed against tax for residential rental properties was reduced from 100% to 75% in section 5 of the Finance Act 2009. There is no specific proposal in the Programme for Government to decrease the amount of interest on borrowings that can be offset against rental income for tax purposes, however, as a matter of course all such taxation...

Written Answers — Department of Finance: Tax Yield (6 Nov 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the full year yield, estimated by reference to 2012 incomes, from imposing a further income levy of 5% on all income that is currently liable to the Universal Social Charge (USC) would be of the order of €920 million. The estimated yield is based on applying a 5% levy to all the income of income earners who earn in excess of...