Results 19,841-19,860 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (18 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that details of the amount of research and development (‘R&D’) tax credits currently being claimed by companies, together with their 2003 base year expenditure, are captured in corporation tax returns only where the amount of expenditure currently being claimed exceeds the base year amount. For companies whose current expenditure...

Written Answers — Department of Finance: Vehicle Registration Issues (18 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that under current Regulations, a vehicle must be purchased from an authorised dealer. An authorised dealer is a person who is authorised under section 136 of the Finance Act 1992 (as amended) “to manufacture, distribute, deal in, deliver, store, repair or modify unregistered vehicles and to convert registered vehicles”. Authorisation...

Written Answers — Department of Finance: Tax Yield (18 Oct 2012)

Michael Noonan: I understand the Deputy is asking about the yield from the removal from tax law of what is known as the remittance basis of taxation, which applies to certain foreign income and gains of those who are tax resident but not domiciled in the State. I am informed by the Revenue Commissioners the "remittance basis of taxation" means, in brief, that apart from employment income, foreign income and...

Written Answers — Department of Finance: Tax Yield (18 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that on the basis of the expected cost of Stamp Duty forgone due to consanguinity relief in 2012 it is estimated that the full year yield from an immediate abolition of the relief would be of the order of €7 million. Consanguinity relief on transfers of non-residential property will be abolished with effect from 1 January 2015, and has...

Written Answers — Department of Finance: Tax Code (18 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated cost to the Exchequer of top slicing relief in 2010, the latest year for which the necessary detailed information is available, is €36.7 million.

Written Answers — Department of Finance: Tax Code (18 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that details of the amount of research and development (‘R&D’) tax credits currently being claimed by companies, together with their 2003 base year expenditure, are captured in corporation tax returns only where the amount of expenditure currently being claimed exceeds the base year amount. For companies whose current expenditure...

Written Answers — Department of Finance: Vehicle Registration Issues (18 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that under current Regulations, a vehicle must be purchased from an authorised dealer. An authorised dealer is a person who is authorised under section 136 of the Finance Act 1992 (as amended) “to manufacture, distribute, deal in, deliver, store, repair or modify unregistered vehicles and to convert registered vehicles”. Authorisation...

Seanad: Mortgage Credit (Loans and Bonds) Bill 2012: Second Stage (17 Oct 2012)

Michael Noonan: I thank the Senator for his work in researching and bringing this Bill before the Seanad today. It is clear that there are many challenges currently facing the Irish banking system and I welcome all contributions to the debate, particularly from the Senator, given his expertise in the economic field. Mortgage credit is a key component of the banking system and we accept that the market is...

Seanad: Mortgage Credit (Loans and Bonds) Bill 2012: Second Stage (17 Oct 2012)

Michael Noonan: I think I will hear another contribution or two.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Michael Noonan: Yes, a series of VAT directives have emanated from Europe and our VAT must comply with them. A change would lead to ongoing and lengthy negotiations because an awful lot of people in various countries would object. I do not think that a dramatic change is imminent.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Michael Noonan: Riding horses?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Michael Noonan: What is extraordinary about it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Michael Noonan: Does the Deputy want an answer on the financial transaction tax? What is being proposed in Europe, so far, is a form of stamp duty starting at 0.1% on certain transactions. We have a stamp duty on share transactions already so we are one of the few countries in Europe with a significant financial transaction tax. Our stamp duty is at 1%. In the United Kingdom there is a stamp duty of 0.5%...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Michael Noonan: I have been through Terminal 2 on a number of occasions and I love to see a big crowd there.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Michael Noonan: With regard to the promissory note, if there is a resolution before the budget and there are some deficit gains, it will not lessen the adjustment required. We would have a lower deficit figure next year.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Michael Noonan: No, it is somewhere around the €3.5 billion to which we are committed.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Michael Noonan: That is in the arithmetic.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Michael Noonan: There is no suggestion that a failure to make a deal will increase the adjustment. The only variation on the adjustment would be around the €3.5 billion figure, depending on the opening position.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Michael Noonan: That is already in the arithmetic.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Michael Noonan: Yes.