Results 21,261-21,280 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Credits (20 Oct 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a wide range of statistical information is available on the Commissioners' Statistics webpage at  There is a section of the Statistics webpage dedicated to Tax Expenditures at , where the table titled "Costs of Tax Expenditures (Credits, Allowances and Reliefs)" includes information in relation to the numbers availing and costs of the Blind...

Written Answers — Department of Finance: NAMA Property Sales (20 Oct 2015)

Michael Noonan: Where NAMA receives a recommendation from a debtor or receiver in respect of the sale of a property, it requires evidence that the recommended bid is the highest executable qualifying bid available in the market. The Deputy will appreciate that, as for any seller, mitigation of execution risk, particularly in the context of conditionality attaching to bids or inability to prove funding, is an...

Written Answers — Department of Finance: NAMA Operations (20 Oct 2015)

Michael Noonan: The NAMA Board, pursuant to Section 15.1 of the Code of Practice for the Governance of State Bodies, has implemented a procurement policy to ensure compliance with all relevant public procurement legislation and I am assured  that NAMA, in accordance with the Board's policy, complies with all such rules when it directly procures goods and services.Pursuant to those rules, all...

Written Answers — Department of Finance: Departmental Offices (20 Oct 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a customer service desk operated at the Public Services Centre, Donegal until July of this year. The desk was closed in July having regard to the fact that  -Over the last number of years the provision by Revenue of high quality self service, electronic and telephone service channels has resulted in reduced demand for walk-in...

Written Answers — Department of Finance: Exchequer Revenue (20 Oct 2015)

Michael Noonan: I propose to take Questions Nos. 277 and 278 together. I am advised that the information available to the Revenue Commissioners relates to the profits earned from the provision of all stallion stud services and that thoroughbred stud profits alone are not separately distinguished on returns. The profits earned from the provision of these services for the years 2008 to 2013 (the most recent...

Written Answers — Department of Finance: Exchequer Revenue (20 Oct 2015)

Michael Noonan: I am advised by the Revenue Commissioners that tax payments by the aircraft leasing industry for the years 2010 to 2014 are as shown in the following table. This is based on the primary industry description (NACE code) assigned to businesses on the Revenue taxpayer register. I am further advised that Revenue is currently reviewing the classification of aircraft leasing companies on its...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (20 Oct 2015)

Michael Noonan: As I said in response to Question No. 209 on 10 March this year, the Central Bank issued a Summary Report of its Payment Protection Review ("the PPI Review") in March 2014. The PPI Review included the sales by 11 credit institutions since July 2007. This resulted in a total refund of €69.5 million (including €6.1 million in interest). Around 83,490 policies have been refunded. I...

Written Answers — Department of Finance: Tax Code (20 Oct 2015)

Michael Noonan: Following last year's comprehensive review of agri-taxation that was published by myself and the Minister for Agriculture, Food and the Marine, a number of outstanding recommendations were examined further and are being implemented as part of Budget 2016. These include: - the extension of four measures which were due to expire at end December 2015 for a further three years. This includes...

Written Answers — Department of Finance: Tax Code (20 Oct 2015)

Michael Noonan: The details supplied suggest a Capital Gains Tax (CGT) rollover relief in respect of the proceeds from the sale of farmland under a Compulsory Purchase Order (CPO). General rollover relief was abolished in Budget 2003. One result of rollover relief was that the CGT due on an asset disposal was often never paid. While the public finances are improving, it is still the case that the yield from...

Written Answers — Department of Finance: Tax Code (20 Oct 2015)

Michael Noonan: In last week's Budget, I announced the introduction of a Succession Farm Partnership, subject to EU State Aid approval. A Succession Farm Partnership is a succession planning model that encourages older farmers to form partnerships with young trained farmers and to transfer ownership of the farm, within a specified period, to that young trained farmer. This relief is available to any...

Written Answers — Department of Finance: Tax Code (20 Oct 2015)

Michael Noonan: I have no plans to introduce a individualised income tax volatility measure for farmers that would allow farmers to delay payment of taxes. As the Deputy will be aware, income averaging is available to farmers in recognition of the volatility of their income, which I believe is ultimately more beneficial than delaying the payment of tax. The Deputy may be aware that following the...

Written Answers — Department of Finance: Tax Code (20 Oct 2015)

Michael Noonan: I assume that the Deputy is referring to Capital Acquisitions Tax (CAT) agricultural relief. The importance of agriculture in the Irish economy is well recognised. In this context, a specific relief from CAT is provided for gifts and inheritances of agricultural property once certain conditions are satisfied. This relief is known as Agricultural Relief. The aim of the relief is to ensure the...

Written Answers — Department of Finance: VAT Rate Application (21 Oct 2015)

Michael Noonan: Under EU VAT law, with which Irish VAT law must comply, economic activity in general is subject to VAT. In this context, the greyhound industry involves a variety of supplies of goods and services that come within the scope of VAT. With regard to greyhound food, the supply of dog food is liable to VAT at the standard VAT rate of 23%. However, a concession was introduced in Finance Act...

Written Answers — Department of Finance: Tax Code (21 Oct 2015)

Michael Noonan: I take it that the Deputy is referring to stamp duty in leases. I am advised by the Revenue Commissioners that a lease is chargeable to stamp duty on the rent payable under the lease as follows:  Residential and Non-residential Property Rate Lease for a term not exceeding 35 years or for any indefinite term 1% of the average annual rent Lease for a term exceeding 35 years but not...

Written Answers — Department of Finance: Bank Debt Restructuring (21 Oct 2015)

Michael Noonan: The Comptroller and Auditor General's (C&AG) Report on the Account of the Public Services 2014 (2014 Report) includes as chapter 3 a report on the Cost of Banking Stabilisation Measures as at end-2014.  The C&AG found that, by the end of 2014, the estimated net cost to the State of measures taken to stabilise the banking system was just under €60 billion. Net...

Written Answers — Department of Finance: Freedom of Information (21 Oct 2015)

Michael Noonan: As of 16th October, 2015 the number of freedom of information requests received by my Department was 354. My Department's electronic system which records receipt and completion of freedom of information requests does not record whether the FOI request was completed within the original 20 working days or whether a further 20 day extension was required. However I can say...

Finance (Miscellaneous Provisions) Bill 2015: Order for Second Stage (22 Oct 2015)

Michael Noonan: I move: "That Second Stage be taken now."

Finance (Miscellaneous Provisions) Bill 2015: Second Stage (22 Oct 2015)

Michael Noonan: I move: "That the Bill be now read a Second Time." I am pleased to present the Finance (Miscellaneous Provisions) Bill 2015 to the House. It should be noted that this Bill is very much of a technical nature and is designed primarily to address certain national and international obligations arising from a number of issues associated with the EU financial services legislative and...

Written Answers — Department of Finance: Primary Medical Certificates Provision (22 Oct 2015)

Michael Noonan: The Drivers and Passengers with Disabilities (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, assistance with fuel costs, and an exemption from Motor Tax. As the Deputy is aware, to qualify for the Scheme, an applicant requires a Primary...

Written Answers — Department of Finance: NAMA Property Sales (22 Oct 2015)

Michael Noonan: NAMA does not own or manage properties.  NAMA has acquired loans.  Its role in relation to properties is, like a bank, that of a secured lender.  I am advised by NAMA that, other than properties that have been enforced, all of which are managed by the appointed receiver/administrator, properties continue to be managed by their original owners.  These parties are...