Results 19,961-19,980 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Yield (16 Oct 2012)

Michael Noonan: An annual imputed distribution rate of 5% applies to approved retirement funds (ARFs) with asset values of €2 million or less and, from this tax year, to ‘vested’ Personal Retirement Savings Accounts (PRSAs where benefits have commenced) on the same basis. A higher imputed distribution rate of 6% applies from this tax year to ARFs and/or ‘vested’ PRSAs with...

Written Answers — Department of Finance: Economic Statistics (16 Oct 2012)

Michael Noonan: The data requested by the Deputy for the period 2012-2015 are set out in the table below. My Department’s current forecast horizon is to 2015 and so forecasts post 2015 are not published at present. The 2012 to 2015 forecasts are taken from the Stability Programme Update (SPU) published in April this year. The Deputy should note that my Department is currently updating its...

Written Answers — Department of Finance: Vehicle Registration Numbers (16 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the statistical breakdown as requested in respect of cars sold is not available. However, statistics in respect of the Open Market Selling Price (OMSP) of new and used cars registered for Vehicle Registration Tax purposes, which are VAT inclusive, are as follows: New Cars Less than €50,000 OMSP Greater than €50,000 OMSP Total...

Written Answers — Department of Finance: Tax Yield (16 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that it is not possible to furnish figures of the VAT take from jewels and furs for the periods specified, as the information furnished on VAT returns does not require the yield from particular sectors of trade to be identified.

Written Answers — Department of Finance: Investor Compensation Company Limited (16 Oct 2012)

Michael Noonan: I understand that the Deputy is referring to Custom House Capital Limited; this company has been the subject of recent Parliamentary Questions. The basic requirements for investor compensation schemes are laid down in the EU Investor Compensation Directive, which has been transposed into Irish law as the Investor Compensation Act 1998. The Directive, including the level of compensation...

Written Answers — Department of Finance: Fuel Prices (16 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 208, 209, 212 and 213 together. As the Deputies are aware a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry including the matter of an essential users rebate. I have recently received a submission from the...

Written Answers — Department of Finance: Flood Relief Schemes Applications (16 Oct 2012)

Michael Noonan: A report on the response to flooding in the Cork area on 28 June 2012 was presented to the Government Task Force on Emergency Planning at its meeting on 24 September 2012. The report was presented by the Department of the Environment, Community and Local Government. My colleague the Minister for the Environment, Community and Local Government has submitted a memorandum to the Government on...

Written Answers — Department of Finance: Tax Collection (16 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that they are very mindful of the unfair competitive advantage to be gained by those businesses that do not fulfil their tax obligations. Revenue’s tax and duty compliance programmes are under constant review to ensure that they are focussed on the areas of greatest risk, including risks from the shadow/hidden economy. There is a strong focus...

Written Answers — Department of Finance: Farm Partnerships (16 Oct 2012)

Michael Noonan: The stock relief for registered farm partnerships, announced in Budget 2012, is subject to a Commencement Order and State Aid approval. This relief is available to all farmers who participate in a registered farm partnership, defined as a milk production partnership within the meaning of the European Communities (Milk Quota) Regulations 2008. I am informed by Teagasc that they currently...

Written Answers — Department of Finance: Property Transfers (16 Oct 2012)

Michael Noonan: The rate of stamp duty on transfers of non-residential property, which would also apply to agricultural land, was changed in Budget 2012, applying to property transactions executed on or after Budget night 6 December 2011. The previous six rates were replaced with a single rate of 2%. Figures for Stamp Duty on non-residential transactions are not captured in a manner that would enable a...

Written Answers — Department of Finance: Tax Reliefs Cost (16 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 216 and 217 together. These questions relate to two capital gains tax measures I introduced in the 2012 Budget. One is a provision for a retirement relief to incentivise timely business and farming asset transfers and the other is a relief from capital gains tax on the disposal of certain property, where that property is bought during the "incentive period"...

Written Answers — Department of Finance: Credit Unions Regulation (16 Oct 2012)

Michael Noonan: The Credit Union Bill 2012 reflects the agreed report of the Commission on Credit Unions and implements 60 of its recommendations. These recommendations were agreed by all members of the Commission, including credit union stakeholders. The report states that the level of additional services that may be provided by credit unions will depend on the business model of the credit union within...

Written Answers — Department of Finance: Proposed Legislation (16 Oct 2012)

Michael Noonan: The Betting (Amendment) Bill which was published in July provides for extended opening hours in bookmakers. The extended opening hours will come into effect after enactment of the Bill.

Written Answers — Department of Finance: Debt Collectors Regulation (16 Oct 2012)

Michael Noonan: I have no responsibility for the regulation of debt collectors and debt collecting firms. In such circumstances, I do not have details of the number of people or firms which provide such services. Debt collection services apply across a significantly wider range of activities than the recovery of money for financial products, for example for utilities, rents, other consumer debts and also...

Written Answers — Department of Finance: Credit Availability (16 Oct 2012)

Michael Noonan: I assume the Deputy is seeking data from all Irish banks lending to the SME sector. The Government has imposed SME lending targets on the two domestic pillar banks for the three calendar years between 2011 and 2013. Both banks were required to sanction lending, including lending for working capital purposes, of at least €3 billion in 2011, €3.5 billion this year and €4...

Written Answers — Department of Finance: NAMA Social Housing Provision (16 Oct 2012)

Michael Noonan: I am advised by the National Asset Management Agency (NAMA) that it has now identified approximately 3,800 units as being available through its debtors and receivers and potentially suitable for social housing. Of those that have been examined to date by approved housing bodies, demand has been confirmed for over 1,500 units which are currently being progressed. Transactions have been...

Written Answers — Department of Finance: Credit Unions Regulation (16 Oct 2012)

Michael Noonan: I have received a letter from the Irish League of Credit Unions on similar terms to the one referred to by the Deputy. The Government recognises the important role of Credit Unions as a volunteer co-operative movement and the distinction between them and other types of financial institutions. The Commission on Credit Unions was established to review the future of the credit union movement...

Written Answers — Department of Finance: Departmental Banking (16 Oct 2012)

Michael Noonan: The information requested by the Deputy is contained in the table that follows this reply. My Department is a shared services provider and acts as agent for a number of other Government Departments/Offices in the making of payroll, pensions and general payments. Bank charges are one of the factors in decisions on the selection of new bank accounts following tendering processes. In many...

Written Answers — Department of Finance: Pensions Levy Yield (16 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that receipts from the temporary 0.6% stamp duty levy on pension fund assets introduced in the Finance (No. 2) Act 2011 amounted to €463 million in 2011 and to €477 million in 2012 by the end of September. This is broadly in line with the amounts anticipated to be collected over the period.

Written Answers — Department of Finance: Tribunals of Inquiry Reports (16 Oct 2012)

Michael Noonan: The Deputy should note that there have been no proceedings initiated against the State arising from the findings of the Moriarty Tribunal. However, there are two significant sets of proceedings which predate the findings of the tribunal but which are concerned with the matters canvassed by that tribunal and the conclusions reached by that tribunal. The cases in question are (i) Comcast...