Results 20,901-20,920 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: VAT Rate Reductions (22 Sep 2015)

Michael Noonan: The 9% Vat rate has been broadly welcomed by the tourism and hospitality industry since its introduction in July 2011 as part of the Jobs Initiative. When I originally announced the Jobs Initiative in 2011, I made it clear that the effects of the VAT reduction would be reviewed before Budget 2013 to ensure that it encouraged employment in the affected sectors. This analysis of the VAT...

Written Answers — Department of Finance: Banking Sector (22 Sep 2015)

Michael Noonan: As the Deputy will be aware under the Relationship Framework the State does not intervene in the day to day operations of the bank or their management decisions regarding commercial matters. AIB has previously indicated that as part of its restructuring plan to reduce costs and increase efficiencies, outsourcing of certain functions would be considered in consultation with unions and affected...

Written Answers — Department of Finance: Pensions Levy (22 Sep 2015)

Michael Noonan: This question refers to the stamp duty levies applying to the assets of funded pension arrangements introduced in 2011 to pay for the Jobs Initiative, the chargeable persons for which are the trustees of pension schemes and others responsible for the management of pension fund assets. The original 0.6% stamp duty levy on pension fund assets ended last year. The additional levy of 0.15%...

Written Answers — Department of Finance: Tax Reliefs Application (22 Sep 2015)

Michael Noonan: I propose to take Questions Nos. 325 and 360 together. Rent-a-room relief is provided for in section 216A of the Taxes Consolidation Act (TCA) 1997. Under section 216A, sums arising to an individual in respect of the letting of a room or rooms as residential accommodation in his or her home and from meals or other services supplied in connection with the letting, are exempt from income tax...

Written Answers — Department of Finance: Tax Exemptions (22 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners that legislation governing the Drivers and Passengers with Disabilities Scheme is provided for in the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (S.I. 353 of 1994). Full details of the Scheme are set out in Information Leaflet VRT 7 which is available on the Revenue website. In order to qualify for relief under the...

Written Answers — Department of Finance: VAT Exemptions (22 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners certain retail outlets operating at Irish airports may apply the zero rate of VAT to retail sales of goods to passengers travelling to destinations outside the European Union. This is allowed under paragraph 7 of Schedule 2 of the Value-Added Tax Consolidation Act 2010. All goods supplied to other travellers are liable to Irish VAT at the appropriate...

Written Answers — Department of Finance: Budget 2016 (22 Sep 2015)

Michael Noonan: Preparations for budget 2016 and the consequent Finance Bill are ongoing. It would not be appropriate for me to comment on what changes, if any, are being considered regarding taxation and agriculture or in relation to any other tax measure.

Written Answers — Department of Finance: Budget 2016 (22 Sep 2015)

Michael Noonan: Preparations for budget 2016 and the consequent Finance Bill are ongoing. It would not be appropriate for me to comment on what changes, if any, are being considered to capital acquisitions tax (which applies to gifts and inheritances) or any other tax measure.

Written Answers — Department of Finance: Mortgage Interest Rates (22 Sep 2015)

Michael Noonan: I have been informed by permanent tsb that following the initial announcement on July 1st which allows over 70,000 existing homeloan customers on Standard Variable Rate Mortgages of 4.5% to move to new mortgage interest rates which will start from as little as 3.70% dependent on the loan to value of the borrowers property, ptsb has worked as quickly as possible to get letters issued...

Written Answers — Department of Finance: Tax Code (22 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners that all Community Employment payments to participants, including those with adult and child dependents, are assessable for Income Tax (PAYE) purposes. The actual amount payable by any individual will depend on her/his Tax Credits and Standard Rate Cut-Off Point. Community Employment participants pay PRSI at Class A8/A9 which counts as a full...

Written Answers — Department of Finance: Fuel Laundering (22 Sep 2015)

Michael Noonan: I have no information on the issue raised in the question by the Deputy. It appears to be a matter concerning companies in the oil industry and in the motor insurance industry.

Written Answers — Department of Finance: Money Laundering (22 Sep 2015)

Michael Noonan: I am aware of the allegations made in the programme in February 2015 to which the Deputy refers. As I said in reply to the previous Parliamentary Question to which the Deputy referred, criminal wrongdoing is a matter for An Garda Síochána. On the issue more generally, in Ireland money laundering has been treated as a very serious offence since the passing of the The law in...

Written Answers — Department of Finance: Tax Reliefs Eligibility (22 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners that relief in respect of health expenses is allowed in accordance with the provisions of section 469 of the Taxes Consolidation Act 1997. In order to qualify for relief an individual must show that he or she has incurred "health expenses" for the provision of "health care". It is not the case that all expenses incurred on health care qualify for...

Written Answers — Department of Finance: Fuel Inspections (22 Sep 2015)

Michael Noonan: I assume that the Deputy is referring to the number of roadside green diesel operations carried out by the Revenue Commissioners for the years 2011 to 2014. The figures are set out in the following table. County 2011 2012 2013 2014 Clare 71 31 70 88 Cork 54 63 72 70 Donegal 116 84 90 106 Dublin 81 91 170 253 Galway/Westmeath/Offaly 121 106 57 59 Kerry 139 185 146 108 Kildare 15...

Written Answers — Department of Finance: VAT Exemptions (22 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply.  In the circumstances, the service of renting of medical machines is liable to VAT at the standard rate, currently 23%. I would point out that Value-Added Tax (Refund of Tax) (No. 15) Order 1981 enables VAT paid on...

Written Answers — Department of Finance: Tax Exemptions (22 Sep 2015)

Michael Noonan: Section 216A of the Taxes Consolidation Act 1997 provides for the rent-a-room scheme. This scheme was introduced in Finance Act 2001 as an incentive to encourage individuals to let rooms in their principal private residence in order to bring about an increase in the availability of rental accommodation, particularly for the student sector. No legislative change has been made to the...

Written Answers — Department of Finance: Insurance Coverage (22 Sep 2015)

Michael Noonan: In my role as Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. The provision of insurance cover as well as the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet these risks. ...

Written Answers — Department of Finance: Credit Unions (22 Sep 2015)

Michael Noonan: I propose to take Questions Nos. 340 and 391 together. My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions.  Within her independent regulatory discretion, the...

Written Answers — Department of Finance: Tax Code (22 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners that, for the purposes of inheritance tax, the relationship between the person who provides the inheritance (i.e. the disponer) and the person who receives the inheritance (i.e. the beneficiary), determines the maximum life-time tax-free thresholdknown as the "Group Threshold" - below which inheritance tax does not arise. There are, in all, three...

Written Answers — Department of Finance: Tax Yield (22 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a wide range of statistical information is available on the Commissioners' Statistics webpage:. In relation to the Deputy's question, detailed information on Excise receipts by commodity can be found at .The most recent year for which detailed data are available is 2013. Data for 2014 will be published in due course. I am further informed by the...