Results 22,581-22,600 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Relief Data (20 Apr 2016)

Michael Noonan: I propose to take Questions Nos. 100 and 101 together. These questions both relate to the carry forward of tax relief on pension contributions under the provisions of section 774(7)(d) Taxes Consolidation Act 1997; I propose taking them together. I am informed by the Revenue Commissioners that section 774 of the Taxes Consolidation Act, 1997 provides tax relief for contributions by an...

Written Answers — Department of Finance: Property Tax (20 Apr 2016)

Michael Noonan: Revenue provides a wide range of payment and phased payment options that allow property owners to meet their Local Property Tax (LPT) obligations in a manner that best suits individual circumstances. One of the available phased payment options is Deduction at Source from ten separate payment schemes operated by the Department of Social Protection (DSP). The Deputy should note that deductions...

Written Answers — Department of Finance: Mortgage Arrears Proposals (20 Apr 2016)

Michael Noonan: As the Deputy is aware, I, as Minister for Finance, have no direct function in the relationship between EBS (a subsidiary of AIB) and its customers. Notwithstanding the fact that the State is a significant shareholder in the institution, the Minister must ensure that the bank is run on an independent basis to ensure the value of the bank as an asset to the State. It would therefore be...

Written Answers — Department of Finance: Appointments to State Boards (20 Apr 2016)

Michael Noonan: In response to the Deputy's query, please see below a regional breakdown of members appointed to bodies under the aegis of my Department in 2015 and to date in 2016. Body Appointee Name Appointed Region Central Bank Commission John FitzGerald Re-appointed 1/10/2015 Dublin Alan Ahearne Re-appointed 8/03/2015 Connacht Philip Lane Appointed 21/10/2015 *in advance of commencing as Governor...

Written Answers — Department of Finance: VAT Rate Application (20 Apr 2016)

Michael Noonan: The VAT rating of goods and services is constrained by the requirements of EU VAT law with which Irish VAT law must comply. Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, currently 23%. Parts or accessories and training are also liable to VAT at the standard rate.  There is no provision in VAT law that would make it possible to apply...

Written Answers — Department of Finance: Credit Union Regulation (20 Apr 2016)

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...

Written Answers — Department of Finance: Insurance Industry (20 Apr 2016)

Michael Noonan: As the Deputy is aware, progress on the Setanta Insurance issue has been awaiting the outcome of legal proceedings in the case of the Law Society of Ireland versus the Motor Insurers' Bureau of Ireland (MIBI).  On 4 September 2015, the High Court held that the MIBI is liable in respect of claims against the policy holders of Setanta.  This...

Written Answers — Department of Finance: Credit Availability (20 Apr 2016)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) began lending in March 2015. Its goal is to increase the provision of funding to SMEs at a lower cost and on more flexible terms than has been available in recent times on the Irish Market. The SBCI channels its funds through lending partners known as on-lenders. The SBCI currently has three bank on-lending partners and two non-bank...

Written Answers — Department of Finance: Betting Regulations (20 Apr 2016)

Michael Noonan: Licensed bookmakers and remote bookmakers are liable to 1% betting duty on the value of all bets accepted in a registered bookmaking premises and on the value of all bets accepted by internet, phone or other electronic means from persons in the State.  Betting duty is not charged on bets accepted on-course by a licensed bookmaker at an authorised racecourse during race meetings....

Written Answers — Department of Finance: Tax Rebates (20 Apr 2016)

Michael Noonan: I am advised by Revenue that there is no outstanding claim for a tax rebate from the person concerned. The person concerned was advised in writing by Revenue last September of the position as regards his rebate claims at that time and any refunds due issued then.

Written Answers — Department of Finance: Economic Competitiveness (20 Apr 2016)

Michael Noonan: Substantial progress has been made in terms of improving Ireland's competitiveness in recent years.  The latest figures from Eurostat, the statistics arm of the European Commission, estimated that nominal unit labour costs (a widely used measure of competitiveness internationally) in Ireland declined by 4.2 per cent annually in 2015. This is the largest decline...

Written Answers — Department of Finance: Bank Charges (20 Apr 2016)

Michael Noonan: As the Deputy is aware, all credit institutions in Ireland are independent commercial entities. I, as Minister for Finance, have no statutory role in relation to the charges applied by credit institutions. Section 149 of the Consumer Credit Act 1995 requires that credit institutions, prescribed credit institutions and bureaux de change must make a submission to the Central...

Written Answers — Department of Finance: UK Referendum on EU Membership (20 Apr 2016)

Michael Noonan: The Government's position on developments in relation to British membership of the EU has been clearly articulated, in particular by the Taoiseach and the Minister of Foreign Affairs and Trade: we very much want the UK to remain an integral member of the Union. This is important for both our economy and the ongoing development of the excellent bilateral relations Ireland and the UK now...

Written Answers — Department of Finance: Wards of Court (20 Apr 2016)

Michael Noonan: In response to the Deputy's question I wish to advise him that the matter he raises is one, in the first instance, for the Court Service which falls within the policy remit of my colleague the Minister for Justice and Equality. I understand that the Public Accounts Committee examined and reported on issues related to Wards of Court last year, including relating to the management and...

Written Answers — Department of Finance: Insurance Industry Regulation (20 Apr 2016)

Michael Noonan: My Department has commenced a Review of Policy in the Insurance Sector. This is being undertaken in consultation with the Central Bank, Departments and Agencies and other relevant stakeholders. The objective of the Review is to recommend measures to improve the functioning and regulation of the insurance sector.  This Review will include an examination of the factors contributing to...

Written Answers — Department of Finance: Tax Code (20 Apr 2016)

Michael Noonan: The standard rate of VAT, currently 23%, applies to the sale of ice-cream, as it does to most confectionery and sugary foods. In this respect, ice-cream parlours selling ice cream to customers must charge the 23% rate on the supply of ice-cream. Where ice-cream is provided as part of a meal by a caterer, such as a restaurant, the meal, including the ice-cream element, is liable to VAT at...

Written Answers — Department of Finance: Tax Code (20 Apr 2016)

Michael Noonan: I am informed by the Revenue Commissioners that section 599 of the Taxes Consolidation Act 1997 gives relief from Capital Gains Tax for the disposal by a person, who has attained the age of 55, of a farm to his/her children. There is provision for a clawback of the relief where the assets transferred to the children are subsequently disposed of by the children within 6 years of the date...

Written Answers — Department of Finance: Tax Data (20 Apr 2016)

Michael Noonan: I am advised by the Revenue Commissioners that a Costs of Tax Expenditures Table is available on the Revenue Statistics webpage at .  This table displays the estimated cost, in terms of revenue forgone, as well as the numbers who availed of the main tax credits and reliefs, including the rent a room relief.  In regards to the Deputy's question, the latest information on rent a room...

Written Answers — Department of Finance: Tax Code (21 Apr 2016)

Michael Noonan: I am advised by the Revenue Commissioners that the data available to them from tax returns does not provide a sufficient basis to identify the number of additional cases who would additionally qualify for the Seafarer's Allowance under the Deputy's suggestion. It is not possible therefore to provide a definitive estimate of the cost for such a change. The Deputy may wish to note that...

Written Answers — Department of Finance: VAT Rate Application (21 Apr 2016)

Michael Noonan: I am advised by the Revenue Commissioners that Irish VAT legislation, which is in compliance with the EU VAT Directive, provides that the transport of passengers and their accompanying baggage is exempt from VAT under paragraph 14(3) of Schedule 1 to the VAT Consolidation Act 2010.  In this respect, services provided by the coach and bus sector are exempt from VAT.  This means that...