Results 22,741-22,760 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Insurance Industry (17 May 2016)

Michael Noonan: 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 4September 2015, the High Court held that the MIBI is liable in respect of claims against the policy holders of Setanta.  This decision was subsequently appealed by the...

Written Answers — Department of Finance: Tax Data (17 May 2016)

Michael Noonan: I am informed by the Revenue Commissioners that the yield from Carbon Tax in 2015 was €419.

Written Answers — Department of Finance: Tax Registration (17 May 2016)

Michael Noonan: I am advised by Revenue that the body concerned is registered for tax since 1991 and that registration is still valid. Revenue does not have any current application from the body concerned.

Written Answers — Department of Finance: Tax Relief Data (17 May 2016)

Michael Noonan: Section 1003 of the Taxes Consolidation Act 1997 provides for the payment of tax by means of the donation of a heritage item to an approved body. The tax credit available to the donor of heritage items for all years up to and including 2008 was 100% of the market value of such items. For 2009 and subsequent years the tax credit available is an amount equal to 80% of the market value of such...

Written Answers — Department of Finance: Revenue Commissioners (17 May 2016)

Michael Noonan: The following table sets out the number of "walk in" callers to the Revenue Dundalk office and shows a 31% reduction in "walk in" callers to the office over the 5 year period: 2011 2012 2013 2014 2015 26,353 21,858 22,319 20,120 18,190 I am advised by Revenue that there are no plans to close the office to the public on 2 September next. I am aware that Revenue has made a significant...

Written Answers — Department of Finance: Tax Exemptions (17 May 2016)

Michael Noonan: I am advised that the 2012 report of the interdepartmental group (chaired by Dr Don Thornhill) on the design of a Local Property Tax (LPT) considered the issue of introducing an exemption or waiver for those below a certain income threshold. However, the report concluded that income-related waivers are an inefficient and costly method of targeting relief as they run the risk of creating...

Written Answers — Department of Finance: Property Tax (17 May 2016)

Michael Noonan: I am advised by Revenue that there are currently in excess of 29,000 properties availing of the deferral option in respect of Local Property Tax (LPT), as provided for by Part 12 of the Finance (Local Property Tax) Act 2012 (as amended). The deferrals, which attract an interest charge of 4% per annum, will for the majority of cases remain in place for the duration of the current valuation...

Written Answers — Department of Finance: Central Bank of Ireland (17 May 2016)

Michael Noonan: The Central Bank publishes details about its total investment asset holdings in its annual report, which is available on its website. However, the Bank has informed me that it does not publish a breakdown of assets by jurisdiction, nor specify the jurisdiction of assets which it acquired or disposed during the year.

Written Answers — Department of Finance: Tax Relief Data (17 May 2016)

Michael Noonan: I propose to take Questions Nos. 215 and 217 together. 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 foregone, as well as the numbers who availed of the main tax credits and reliefs, including tax relief on medical insurance premiums. The table...

Written Answers — Department of Finance: Tax Data (17 May 2016)

Michael Noonan: The introduction of a health levy on sugar-sweetened drinks has been included in the Programme for a Partnership Government. This levy will be one of a number of key public health interventions that this Government will make, as well as serving to provide additional revenue to the Exchequer. While the details of the proposed levy, including structure, rate and application, have not been...

Written Answers — Department of Finance: Tax Relief Costs (17 May 2016)

Michael Noonan: The current annual limit for Rent A Room relief, as provided for in Budget 2015, is €12,000. I assume the Deputy is enquiring as to how much it would cost to increase this limit to €13,750. On that basis, I am advised by the Revenue Commissioners that it is tentatively estimated that the cost of such an increase would be approximately €0.4 million.

Written Answers — Department of Finance: Employment Rights (17 May 2016)

Michael Noonan: I am advised by the Revenue Commissioners that, by way of practice, employers may, without the deduction of tax, reimburse employees the expense of travel and subsistence wholly, exclusively and necessarily incurred in the performance of the duties of their employment. In that respect, there are two rate-related schemes by which such expenses may be reimbursed by the employer.  The...

Written Answers — Department of Finance: VAT Rate Reductions (17 May 2016)

Michael Noonan: I am advised by the Revenue Commissioners that information on estimated costs of changes to all of the VAT rates can be found in the post-Budget 2016 Ready Reckoner on the Revenue Statistics webpage: . The Revenue Ready Reckoner estimates the full year cost of reducing the 23% VAT rate by 1% to be €318 million. Further decreases can be estimated on a straight line basis, thus the...

Written Answers — Department of Finance: Banking Sector (17 May 2016)

Michael Noonan: As the Deputy is aware, as Minister I have no direct function in the relationship between banks and their customers, nor any involvement in the day-to-day running of the banks. Notwithstanding the fact that the State is a shareholder in some of the institutions operating in the State, I must ensure that the banks are run on a commercial, cost effective and independent basis to...

Written Answers — Department of Finance: Revenue Commissioners (17 May 2016)

Michael Noonan: I am advised by Revenue that the details provided for the person concerned do not facilitate verification of the precise circumstances of this case. Revenue has advised me that arrangements will be made to contact the person concerned directly to clarify and hopefully resolve matters fully.

Written Answers — Department of Finance: Mortgage Arrears Proposals (17 May 2016)

Michael Noonan: This Government is very committed to dealing with mortgage arrears and providing support for borrowers that find themselves in that situation. This commitment is evidenced by the range of commitments contained in the Programme for A Partnership Government which will provide renewed impetus for dealing with the issue particularly for those borrowers in longterm arrears.  ...

Written Answers — Department of Finance: One-Parent Family Payment (17 May 2016)

Michael Noonan: As the Deputy will be aware, the One-Parent Family Tax Credit (OPFTC) was replaced with a new Single Person Child Carer Credit (SPCCC) from 1 January 2014. I recall that during the course of the debate on Report Stage of Finance Bill 2014, the Deputy tabled an amendment proposing to extend the transferability of all or part of the Single Person Child Carer Credit (SPCCC) to the...

Written Answers — Department of Finance: Credit Union Restructuring (17 May 2016)

Michael Noonan: On 1 January 2013 the Credit Union Restructuring Board ("ReBo"), was established on a statutory basis. ReBo was established to facilitate and oversee the restructuring of credit unions on a voluntary, incentivised and time-bound basis. The objectives of the restructuring process are to underpin the stability and long-term viability of credit unions and the sector at large and to...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Capital (17 May 2016)

Michael Noonan: The most recently published value of the ISIF's Discretionary Portfolio is €7.9 billion as at 31 December 2015. This includes cash and short term investments of €3.6 billion. To date, the Fund has committed €2.2 billion across a wide range of sectors in the Irish economy in line with ISIF's double bottom line mandate to invest on a commercial basis in a way that...

Written Answers — Department of Finance: IBRC Liquidation (17 May 2016)

Michael Noonan: A third progress update report on the Special Liquidation of IBRC will be issued in the coming weeks providing a comprehensive review of the progress to date and the current status of the Special Liquidation. This report will be available on the Department of Finance website once it has been finalised. While it is too early at this stage to advise on the likely timeframe for...