Results 21,901-21,920 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Departmental Agencies (25 Nov 2015)

Michael Noonan: In response to the Deputy's query please find, in tabular form, all new State agencies or bodies established under the aegis of the Department of Finance since March 2011. I would ask the Deputy to note that The New Economy and Recovery Authority (NewERA) has been established on a statutory basis within the NTMA following the commencement of the relevant section of the National Treasury...

Written Answers — Department of Finance: Universal Social Charge Application (25 Nov 2015)

Michael Noonan: The USC was introduced in Budget 2011 to replace the Income Levy and Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and maintain revenue to reduce the budget deficit. It is a more sustainable charge than those it replaced, and is applied at a low rate on a wide base.  The USC, like the Income Levy before it, does not apply to social welfare...

Written Answers — Department of Finance: Credit Unions Services (25 Nov 2015)

Michael Noonan: 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 Registrar acts to support the prudential soundness of...

Written Answers — Department of Finance: Financial Services Regulation (25 Nov 2015)

Michael Noonan: Every year, in order to cover the costs of financial regulation, the Central Bank prescribes levies to be paid by entities subject to such regulation. The Central Bank had briefed industry representatives in August that it was proposing significant increases in those levies in 2015. The proposed increases were driven by a proliferation of legislative regulation and...

Written Answers — Department of Finance: Tax Reliefs Eligibility (25 Nov 2015)

Michael Noonan: The State encourages individuals to save for their retirement by providing incentives through the tax system for them to invest some of their earned income into pension saving arrangements approved by the Revenue Commissioners. The incentives include exemption from income tax on pension contributions made from annual relevant earnings based on a percentage of those earnings which increases...

Written Answers — Department of Finance: Tax Compliance (25 Nov 2015)

Michael Noonan: The Deputy will be aware that a key feature of our tax system is self-assessment. Businesses or individuals operating in the State who have an obligation to taxation are required to self assess and make the necessary returns and payments to the Revenue Commissioners on a timely basis.  I am advised by Revenue that they adopt a risk focused approach to monitoring and assuring...

Written Answers — Department of Finance: Tax Code (25 Nov 2015)

Michael Noonan: I assume that the Deputy is referring to the annual cost of increasing the Capital Acquisitions Tax category B threshold, which applies to gifts and inheritances from brother, sister, niece, nephew or grandchild, from the existing threshold of €30,150 to €33,000. I am advised by the Revenue Commissioners that the cost of increasing the category B threshold to €33,000...

Written Answers — Department of Finance: Tax Reliefs Availability (25 Nov 2015)

Michael Noonan: There are no special tax arrangements in place to assist the Gaelic Players Association along the lines indicated by the Deputy.  However, section 193 of the Taxes Consolidation Act 1997 contains a general provision whereby income arising from a scholarship held by a person receiving full-time instruction at a university, college, school or other educational establishment is exempt from...

Written Answers — Department of Finance: NAMA Social Housing Provision (25 Nov 2015)

Michael Noonan: I and my officials engage regularly with NAMA on issues such as social housing and residential supply more generally to benefit from their understanding and activity in the market; to better understand how their activity may have an impact on the market and to challenge them to evaluate opportunities in line with their objectives that may make a difference in the market. ...

Written Answers — Department of Finance: Credit Unions Restructuring (26 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 57, 58, 62 and 63 together. Section 57 of the Credit Union and Co-Operation with Overseas Regulators Act 2012 (2012 Act) provides for the establishment of the Credit Union Fund as a source of funding for restructuring and to meet the expenses of the Credit Union Restructuring Board (ReBo) in carrying out its functions under the 2012 Act. In...

Written Answers — Department of Finance: Pensions Data (26 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that while social welfare pensions can be separately identified from other sources of income in Revenue records, it is not possible to distinguish income of occupational pensions from those of PAYE employments. Consequently there is no complete or reliable basis available to Revenue on which to provide the breakdown sought by the Deputy of the number...

Written Answers — Department of Finance: Tax Code (26 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that Section 598 of the Taxes Consolidation Act 1997 grants Capital Gains Tax (CGT) retirement relief to individuals aged 55 or over  in respect of, among other things, the disposal ofland that has been let in certain circumstances. Land that has been let for up to 25 years in total ending with the disposal of that land will qualify for the...

Written Answers — Department of Finance: First-Time Buyers' Supports (26 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the only available support for first-time buyers is provided by section 266A of the Taxes Consolidation Act 1997 which provides for refunds of deposit interest retention tax (DIRT) to first-time buyers who purchase or self-build a property for occupation as their home. The property must be purchased or self-built between 14 October 2014 and 31...

Written Answers — Department of Finance: Credit Unions (26 Nov 2015)

Michael Noonan: 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 Registrar acts to support the prudential soundness of individual credit unions,...

Written Answers — Department of Finance: Property Tax Administration (26 Nov 2015)

Michael Noonan: I am advised by Revenue that the data-sharing at issue in the Bara case arose from the sharing between a Romanian Tax Authority and a Romanian Health Insurance Fund, both State bodies, of information - in breach of Article 10 of Directive 95/46 (paragraph 38 of the judgment). The argument made on behalf of the Romanian agencies, that the data-sharing was grounded in Article 315 of Law No....

Written Answers — Department of Finance: Property Tax Rate (26 Nov 2015)

Michael Noonan: In my Budget 2016 statement I announced that I would be making a proposal to Government to postpone the revaluation date for the Local Property Tax from 2016 to 2019.  Legislation to give effect to this announcement is currently being prepared and I hope to introduce it to the Houses of the Oireachtas shortly. I am aware of commentary that the deferral of the revaluation date...

Written Answers — Department of Finance: Central Bank of Ireland (26 Nov 2015)

Michael Noonan: Firstly, I should inform the Deputy that under the Central Bank Act 1942, the Treaty on the Functioning of the European Union and the Statute of the ESCB, save as may be required by the terms of the Financial Emergency Measures in the Public Interest (FEMPI) Acts 20092013 as stated below, the Government has no role in the setting of terms and conditions of employment in the Central...

Written Answers — Department of Finance: Motor Car Credit Market (26 Nov 2015)

Michael Noonan: I am informed by the Central Bank that it does not specifically monitor information on the motor trade or motor lending. However, as part of the Household Credit Market Report, the Central Bank monitor trends in consumer credit by focusing on developments in aggregate consumer credit series as well as considering the financial stability implications of these credit balances...

Written Answers — Department of Finance: Mortgage Lending (26 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 69 and 70 together. The Central Bank of Ireland, in line with its mandate to safeguard financial stability, has put in place macro-prudential measures for residential mortgage lending effective from last February.  These measures apply proportionate loan-to-value and loan-to-income limits to mortgage lending by regulated...

Written Answers — Department of Finance: State Aid Investigations (26 Nov 2015)

Michael Noonan: In 2013, the Competition Directorate of the European Commission announced their intention to open formal state aid investigations into tax rulings provided to a number of companies in various Member States of the European Union.  This announcement is part of a much wider review of tax ruling practice that is currently being undertaken by the European Commission and in 2014 the...