Results 23,601-23,620 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Exchequer Savings (20 Jul 2016)

Michael Noonan: The Programme for Partnership Government 2016 sets out its strategy that the income tax system will not be indexed. As part of the preparations for the recent Summer Economic Statement 2016, it was estimated that a Government policy decision not to index the income tax system would contribute approximately a cumulative €2 billion to the level of fiscal space over the period...

Written Answers — Department of Finance: Departmental Titles (20 Jul 2016)

Michael Noonan: In response to the Deputy's question, I have no cause at present to utilise section 6(1) of the Ministers and Secretaries (Amendment) Act 1939 to confirm a new title for my Department.

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

Michael Noonan: The 9% reduced VAT rate for tourism related services was introduced in July 2011 as part of the Government Jobs Initiative. The measure was designed to boost tourism and create additional jobs in that sector. In my Budget Day speech last year, I suggested that while the case for retaining the measure for the hotel sector in Dublin is diminishing each year with room rates rising particularly...

Written Answers — Department of Finance: Property Tax Yield (21 Jul 2016)

Michael Noonan: I am advised by Revenue that statistics relating to Local Property Tax (LPT) can be found on the statistics webpage of the Revenue website at www.revenue.ie/en/about/statistics/index.html. Specifically, the most recently available LPT information, including LPT collected in respect of each Local Authority area, is available at www.revenue.ie/en/tax/lpt/lpt-stats-2013-2015.pdfin respect of...

Written Answers — Department of Finance: Departmental Staff Sick Leave (21 Jul 2016)

Michael Noonan: I wish to advise the Deputy that the following table contains the figures for the Lost Time Rate for my Department for the years 2011 to 2015 inclusive, as well as the Self Certified Lost Time Rate. Year Overall Lost Time Rate Self Certified Lost Time Rate 2011 3.43% 0.31% 2012 2.43% 0.26% 2013 1.86% 0.18% 2014 2.6% 0.25% 2015 3% 0.22% The lost time rate represents the percentage...

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

Michael Noonan: I am advised by Revenue that where an inheritance is taken from a parent by a son or daughter, the Group A tax-free threshold for Capital Acquisitions Tax (CAT) of €280,000 applies. The son or daughter will not be liable to CAT if the value of the inheritance, when aggregated with all other gifts and inheritances received from a parent since 5 December 1991, does not exceed this...

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

Michael Noonan: All fruit juices, soft drinks, bottled water and smoothies are subject to the standard VAT rate, currently 23%.  The standard rate is the VAT rate applied to such products in the majority of EU Member States.  Prior to 1992 bottled waters and fruit juices had applied at the zero rate, but were made subject to the standard rate from 1 November 1992 in order to correct a competitive...

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

Michael Noonan: The Programme for Partnership Government  commits to the introduction of a tax on sugar-sweetened drinks (SSDs). The tax will contribute towards important public health goals, as well providing a new source of revenue for public spending and decreases in personal income taxation.  The tax on sugar-sweetened drinks has been proposed by the Department of Health in order to...

Written Answers — Department of Finance: Housing Loans (21 Jul 2016)

Michael Noonan: I do not have the exact date that the last life loan products were issued here but I understand from the Central Bank that these loans are regarded as a niche product and they have not been provided in the Irish market for a number of years. Neither my Department nor the Central Bank have carried out a specific review of the legality of these loans. However, it should be noted that the...

Written Answers — Department of Finance: Insurance Industry (21 Jul 2016)

Michael Noonan: The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks.  This would include any post-sale reviews on whole-of-life policies, which are an individual matter for each insurance company and may differ from...

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

Michael Noonan: I am advised by Revenue that the table below indicates the number of temporary exemptions granted in each of the past three years to State residents living in the border counties who are employed by an employer established in another Member State and have been provided with a Category "A" (passenger) vehicle registered outside the State (either owned or leased by the employer) for...

Written Answers — Department of Finance: Tax Relief Availability (21 Jul 2016)

Michael Noonan: The Irish tax system is statute-based and is operated in an open and transparent manner.  All companies in Ireland pay the standard 12.5% rate on their trading profits arising in Ireland.  All companies here pay a corporation tax rate of 25% on their non-trading income, and chargeable capital gains are taxable at the capital gains tax rate of 33%.  These rates, along with any...

Written Answers — Department of Finance: Mortgage Resolution Processes (21 Jul 2016)

Michael Noonan: I would refer the Deputy to the Central Bank's latest mortgage arrears and repossession statistics for quarter 1 2016 which are publicly available at www.centralbank.ie/polstats/stats/mortgagearrears/Documents/ 2016q1_ie_mortgage_arrears_statistics.pdf.  This publication, together with previous quarterly publications back to quarter 1 of 2012, provide a detailed breakdown...

Written Answers — Department of Finance: Irish Airlines Superannuation Scheme (21 Jul 2016)

Michael Noonan: The question does not specify the particular measures which the Deputy has in mind. In any event, I am sure he will understand that I would not be in a position to introduce any measures which would benefit the members of a particular pension scheme to the exclusion of other pension scheme members or taxpayers in a similar situation, generally, and I have no plans to do so.

Written Answers — Department of Finance: Mortgage Lending (21 Jul 2016)

Michael Noonan: The Central Bank has advised me that it is important to note that there is no such regulated category as "sub-prime lender".  However, Retail Credit Firms are authorised to provide credit, in the form of cash loans, directly to individuals (these firms are not licensed to accept deposits).  Some firms authorised in this category are mortgage lenders.  Retail Credit Firms have...

Written Answers — Department of Finance: Company Liquidations (21 Jul 2016)

Michael Noonan: The liquidation of an insurance company is a legally complex process.  Setanta is a Maltese incorporated company and, therefore, the Setanta liquidation is being carried out under Maltese law.  Progress in the liquidation of Setanta Insurance has been awaiting the outcome of legal proceedings in the case of the Law Society of Ireland versus the Motor Insurers' Bureau of Ireland...

Written Answers — Department of Finance: National Payments Plan Implementation (21 Jul 2016)

Michael Noonan: I am informed by the Central Bank that a recommendation contained in the National Payments Plan targeted a significant increase in the number of €10 notes dispensed from ATMs.  Targets were designed in order to increase the proportion of €10 notes in circulation with a view to making lower denomination notes available. The specific targets contained in the National...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (21 Jul 2016)

Michael Noonan: I propose to take Questions Nos. 105 and 106 together. As the Deputy is aware, for operational reasons the loan assets of Irish Bank Resolution Corporation Limited (in Special Liquidation) (IBRC) were divided into eight portfolios: Evergreen, Rock, Salt, Sand/Pearl, Stone, Pebble, Quartz and Amber. The Sand portfolio originally comprised 12,702 Irish originated residential mortgages...

Written Answers — Department of Finance: Bank Guarantee Scheme Fees (21 Jul 2016)

Michael Noonan: As requested by the Deputy, I can confirm that the following amounts have been received to date from fees relating to deposit guarantee schemes and the disposal of the State s investments in the banks: - CIFS/ELG - €4.45bn - Disposal of bank investments -€8.22bn Proceeds from the disposal of bank investments includes accrued interest/dividend at the date of sale, and is net of...

Written Answers — Department of Finance: Central Bank of Ireland (21 Jul 2016)

Michael Noonan: I have been informed by the Central Bank that it has not issued any guidance to financial institutions on the consideration of evidence of gambling transactions as part of the loan application process. The decision to grant or refuse credit is a commercial decision on the part of a regulated entity that must be conducted in accordance with applicable requirements of Irish financial...