Results 23,001-23,020 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Institutions Funding (2 Jun 2016)

Michael Noonan: The Government put €250 million into the Credit Institutions Resolution Fund which was established by section 10(1) of the Central Bank and Credit Institutions (Resolution) Act 2011 (as amended) (2011 Act). The purpose of the Resolution Fund under the 2011 Act is to provide a source of funding for the resolution of financial instability in, or an imminent serious threat to...

Written Answers — Department of Finance: Tax Relief Data (2 Jun 2016)

Michael Noonan: I am informed by Revenue that 17 claimants availed of the relief in 2015 on a total of 7,023 hectolitres of beer produced in 37 qualifying microbreweries based in other Member States. These claimants are Irish-based traders who bring beer into the State from a variety of suppliers. Revenue advise me that while information on the number of other Member State microbreweries represented in the...

Written Answers — Department of Finance: Tax Relief Data (2 Jun 2016)

Michael Noonan: I am advised by Revenue that data relating to the Home Renovation Incentive (HRI) is available from the statistics section of the Revenue website at . Specifically, the most recently available information on the cost of the scheme is in the Tax Expenditures section of the page at . It should be noted that the value of the tax credits referred to therein is not reflective of the cost to the...

Written Answers — Department of Finance: Tax Exemptions (2 Jun 2016)

Michael Noonan: The dwelling house exemption is a provision of the capital acquisitions tax (CAT) legislation. It allows for the tax-free transfer by way of gift or inheritance of the residential property in which a beneficiary lives, subject to certain conditions. These conditions include a requirement that the beneficiary has been living in the property for three years prior to receiving it and that they...

Written Answers — Department of Finance: Tax Yield (2 Jun 2016)

Michael Noonan: I am informed by Revenue that the yield for all relevant years from the Stamp Duty levy on pension schemes is as set in the following table.  Year Yield €m 2011 463 2012 483 2013 535 2014 743 2015 169 Total 2,393 For each year of the levy, Revenue has an on-going compliance programme to ensure the "chargeable persons" have included all scheme assets in the statements...

Written Answers — Department of Finance: Prize Bonds (2 Jun 2016)

Michael Noonan: The NTMA has advised me that the value of prizes in respect of prize bonds, and these prizes as a percentage of total prize bonds outstanding, in each of the last five years, and to-date during 2016, are as follows:  Year Fund at Year-End €m Prizes Paid €m % of Year-End Fund 2016 (end-May) 2,689.18 12.80 0.48 2015 2,481.0 28.9 1.16 2014 2,176.4 31.7 1.46 2013...

Written Answers — Department of Finance: Property Tax Data (2 Jun 2016)

Michael Noonan: I am advised by Revenue that compliance in respect of 2016 Local Property Tax (LPT) currently stands at 90% and that this will increase further as payments made on foot of approximately 290,000 compliance letters issued by mid May 2016 are processed.  I am also advised by Revenue that debt collection/enforcement action, including deductions from salaries and pensions, is underway against...

Written Answers — Department of Finance: Departmental Staff (2 Jun 2016)

Michael Noonan: Since 2011 the Department has implemented organisational changes with the aim of developing a modern, professional and forward-looking Department. We have adapted, realigned and enhanced our resources in order to achieve the goals we set ourselves.  This has involved the building and expanding of the economic expertise and capability across the Department. A total of...

Written Answers — Department of Finance: Departmental Expenditure (2 Jun 2016)

Michael Noonan: The Department of Finance has to-date paid €385,502 to William Fry Solicitors in relation to work carried out on the capital reorganisation of the bank in 2015 and preparation for a potential IPO of AIB. These fees relate to a period from their appointment in April 2015 (following a competitive tender process) up to the present date. They relate to both IPO preparatory work and...

Written Answers — Department of Finance: Banking Sector (2 Jun 2016)

Michael Noonan: As the Deputy is aware, the Programme for Government makes it clear that it is not ethically acceptable for Irish banks to charge excessive interest rates on standard variable rate customers. The Government has committed to take all necessary action to tackle high variable interest rates; including through establishing a new code of conduct for switching mortgage provider, administered by...

Written Answers — Department of Finance: Tax Compliance (2 Jun 2016)

Michael Noonan: I am advised by Revenue that their programme of compliance interventions in relation to the tax affairs of medical consultants is ongoing with further additional interventions being opened as necessary.  At end March 2016, a total of 752 Revenue compliance interventions had been opened on medical consultants and their controlled companies, with some 370 of these interventions having been...

Written Answers — Department of Finance: Living City Initiative (2 Jun 2016)

Michael Noonan: Applications for the Living City Initiative (LCI) are only required to be made to the relevant local authority under the residential element of the scheme. Applications to local authorities are not required to be made under the commercial element of the scheme and thus it is likely to be early next year before information on this aspect of the scheme will become available.  Based...

Written Answers — Department of Finance: Tax Data (2 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 158 and 159 together. I am advised by Revenue that interest and penalties charged and collected as part of their compliance intervention programmes is as set out in the following tables. Table 1 - Interest Interest 2012 2013 2014 2015 PAYE €6.13m €12.74m €15.28m €19.29m PRSI €1.10m €2.13m €2.24m...

Written Answers — Department of Finance: Personal Insolvency Practitioners (2 Jun 2016)

Michael Noonan: Services provided by Personal Insolvency Practitioners do not qualify for exemption in accordance with the VAT Directive, Irish VAT law, and relevant decisions of the Court of Justice of the European Union. The Court of Justice of the European Union has consistently held that the terms used to specify exemptions are to be interpreted strictly since they constitute exceptions to the general...

Written Answers — Department of Finance: Government Deficit (2 Jun 2016)

Michael Noonan: The Special Liquidators of IBRC announced last Friday (via a third progress update report which is available on the Department of Finance website) that they hope to be in a position to make an interim distribution by 31 December 2016 of 25% of all admitted claims made by unsecured creditors. While neither the Department of Finance nor the Special Liquidators announced the sum that the...

Insurance Costs: Motion [Private Members] (8 Jun 2016)

Michael Noonan: I think it is shorter than that, perhaps three minutes for-----

Insurance Costs: Motion [Private Members] (8 Jun 2016)

Michael Noonan: I thank Deputy Michael McGrath for putting forward this motion and his Fianna Fáil colleagues who participated in the debate so far. The Government is not opposed to the motion calling for a task force on motor insurance matters. It is important that Ireland has an insurance sector that is not only financially stable but that contributes to economic activity. The insurance sector...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (8 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 125 and 135 together. The Disabled Drivers and Disabled Passengers (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, payment of a fuel grant, and an exemption from Motor Tax. To qualify for the Scheme an...

Written Answers — Department of Finance: VAT Exemptions (8 Jun 2016)

Michael Noonan: The reduced rate of 13.5% applies to residential housing which includes social housing.  The provision of student accommodation is exempt under Irish VAT rules in accordance with Schedule 1 of the VAT Consolidation Act.  While VAT is therefore not levied on the rents, the landlord is prohibited from recovering the VAT incurred on the acquisition or development of the property being...

Written Answers — Department of Finance: IBRC Liquidation (8 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 127 and 128 together. I am advised by the Special Liquidators of IBRC that all of the preferential creditor payments to former employees of IBRC have been processed for payment. The unsecured creditor claims of former employees of IBRC are in the process of being adjudicated on by the Special Liquidators. Only valid and agreed unsecured creditor claims of...