Results 20,541-20,560 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (16 Jul 2015)

Michael Noonan: The introduction of Carbon Tax was about sending a price signal that there is a cost associated with the consumption of fossil fuels to the detriment of the environment. It should be noted that as solid fuels have the highest carbon content of all fossil fuels they are considered the dirtiest fuels and given the environmental impact it is important that they are taxed. While tax increases...

Written Answers — Department of Finance: Departmental Strategy Statements (16 Jul 2015)

Michael Noonan: My Department remains focused on maintaining the reform momentum necessary to achieve the goals of creating more jobs, enhancing living standards and, ultimately, achieving full employment as set out in the Government's Statement of Government Priorities 2014-2016. This statement prioritises the actions needed to build on the economic recovery that is already under way to ensure that the...

Written Answers — Department of Finance: Insurance Compensation Fund (16 Jul 2015)

Michael Noonan: Setanta Insurance Company Limited is a Maltese incorporated company. Setanta was formally placed into liquidation by the Maltese Financial Services Authority on 30th April 2014 when a liquidator was appointed under the provisions of the Maltese Companies Act 1995. The liquidation is proceeding according to Maltese law. The liquidation of an insurance company is a legally complex and time...

Written Answers — Department of Finance: Tax Data (16 Jul 2015)

Michael Noonan: I am informed by Revenue that, given the volume of Questions received for answer today, it has not been possible to compile the information requested in the time available. A response is being prepared and will be forwarded to the Deputy as soon as possible.

Written Answers — Department of Finance: Tax Yield (16 Jul 2015)

Michael Noonan: I am informed by Revenue that, as tax returns require information in respect of the consideration associated with the disposal of principal private residences but not the actual capital gain, there is no basis for separately identifying the yield that would arise from applying the caps to the relief as proposed by the Deputy.  As the Deputy will be aware, Capital Gains Tax is applicable...

Written Answers — Department of Finance: Tax Data (16 Jul 2015)

Michael Noonan: I am advised by Revenue that the number of individuals about whom data has been provided, on request, to the Health Service Executive (HSE) under section 8 of the Health (Alteration of Criteria for Eligibility) Act 2013 is as follows: Date No. of persons October to December 2013 247,093 2014 965,340 2015 to date 558,658 The nature of the data supplied by Revenue to the HSE generally...

Written Answers — Department of Finance: EU-IMF Programme of Support (16 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 133 and 153 together. I am advised by the National Treasury Management Agency (NTMA) that the position regarding the EU/IMF Programme loan facilities, including interest rates and maturities, as at end-June 2015, is as set out in the table below.  Facility Loan Amount (bn) € Equivalent (bn)1 Interest Rate on Loan Amount Reference Rate Basis...

Written Answers — Department of Finance: Tax Data (16 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 134, 146, 161, 162, 173 and 174 together. I am informed by Revenue that an estimated 38% of income earners are exempt from income tax in 2015.  The estimated percentages of self-assessed income earners and PAYE income earners who are exempt from income tax are 36% and 38% respectively. In relation to the Deputy's questions on USC and standard rate bands,...

Written Answers — Department of Finance: Tax Yield (16 Jul 2015)

Michael Noonan: I assume that the Deputy is referring to the current annual earnings cap of €115,000, which operates to limit the level of tax-relieved personal pension contributions in any one year. The annual earnings cap acts, in conjunction with age-related percentage limits of annual earnings, to put a ceiling on the annual amount of tax relief an individual taxpayer can obtain on pension...

Written Answers — Department of Finance: Tax Reliefs Cost (16 Jul 2015)

Michael Noonan: I am advised by Revenue that a wide range of statistical information is available on the Commissioners', Statistics webpage: . In relation to the Deputy's question, the latest detailed information on the costs of allowances and reliefs can be found under the Tax Expenditures heading at .  Costs are not yet available in respect of the year 2015 and are only available for 2014 for certain...

Written Answers — Department of Finance: Corporate Tax Compliance (16 Jul 2015)

Michael Noonan: I am informed by Revenue that the total Corporation Tax receipts from the financial and insurance activities sector for the years 2013 and 2014 were around €1,026 million and €1,045 million respectively. The estimated total PAYE and associated USC receipts from this sector were in the region of €1,875 million for 2013 and €2,010 million for 2014. I am further...

Written Answers — Department of Finance: General Government Debt (16 Jul 2015)

Michael Noonan: General government debt has increased by approximately €156.2bn from a debt level of €47.1bn in 2007 to €203.3bn as at December 2014. The Deputy should note that borrowing is not undertaken for any specific purpose but rather as the requirements for cash-flow occur. Total cash and other financial asset balances as reported by the NTMA which were included in the...

Written Answers — Department of Finance: Tax Reliefs Data (16 Jul 2015)

Michael Noonan: The quantities of Petrol, Auto Diesel and Marked Gas Oil (MGO) tax paid in the State  in  each of the years 2012 2014 is as follows: - MGO ('000 litres) Auto Diesel ('000 litres) Petrol ('000 litres) 2012 1,125,849 2,548,025 1,667,582 2013 1,101,590 2,676,358 1,568,147 2014 997,528 2,846,887 1,483,192 MGO, which is commonly referred to as agricultural diesel, is used...

Written Answers — Department of Finance: State Debt (16 Jul 2015)

Michael Noonan: The most recent estimate of the structural deficit was contained in the Stability Programme Update (SPU) published in April.  The estimate for 2015, using the required harmonised methodology, is a structural deficit of 2.6% of GDP.  An updated estimate of the structural balance will be contained in Budget 2016. 

Written Answers — Department of Finance: Financial Services Regulation (16 Jul 2015)

Michael Noonan: As previously outlined to the Deputy, I am aware of a number of reports that have been produced by third parties in relation to matters arising from the banking crisis which remain unpublished at this time including those produced by McCann Fitzgerald and Ernst and Young (which were commissioned by the former Board of INBS) in relation to governance matters in the former Irish Nationwide...

Written Answers — Department of Finance: Credit Unions (16 Jul 2015)

Michael Noonan: On November 2013, on foot of a request from the Governor of the Central Bank, I agreed to the payment to Permanent tsb (PTSB) of a financial incentive to support the transfer of Newbridge Credit Union Ltd (NCU), excluding its premises. The maximum amount of financial incentive is €53.9 million, comprising: - €23 million in cash up-front - paid in full....

Written Answers — Department of Finance: National Treasury Management Agency (16 Jul 2015)

Michael Noonan: State Savings is the brand name used by the National Treasury Management Agency (NTMA) to describe the range of Government savings products offered by the NTMA to personal savers. State Savings form part of Ireland's debt, the repayment of which is a direct, unconditional obligation of the State. The NTMA has advised that the total value of State Savings at end-June 2015...

Written Answers — Department of Finance: Tax Compliance (16 Jul 2015)

Michael Noonan: Maximising voluntary tax and duty compliance is a key objective for Revenue. Providing a high quality efficient and cost effective service to taxpayers and their agents to facilitate voluntary compliance is an important priority for Revenue in that regard. Allied to the quality service approach is a clear focus on addressing non-compliance in all its forms.  Sophisticated risk...

Written Answers — Department of Finance: NAMA Debtors (16 Jul 2015)

Michael Noonan: I am advised by NAMA that it has obtained additional security over assets with an aggregate value in excess of €800m through a combination of the reversal of asset transfers and additional security over previously unencumbered assets. Approximately 25% of additional security by value has been obtained as a result of the reversal of asset transfers. I am further advised by NAMA...

Written Answers — Department of Finance: NAMA Property Rental (16 Jul 2015)

Michael Noonan: I am advised by NAMA that it has received 411 eligible applications for rent abatement, through its debtors and receivers, under its Guidance Note on Upwards Only Rent Reviews, and that, of these, 360 have been approved and a further 39 are currently being assessed. Furthermore, I am advised that just 12 of the 411 eligible applications have been refused.