Results 23,921-23,940 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Proposed Legislation (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 182 to 185, inclusive, together. The proposed amendment to Section 110 of the Taxes Consolidation Act, published on 6 September, is the subject of ongoing review and discussion.  It is intended to address some perceived issues with the operation of section 110.  The amendment as published is not finalised and may be subject to further refinements...

Written Answers — Department of Finance: National Debt (27 Sep 2016)

Michael Noonan: The NTMA has outlined the current forecasts for principal and interest payments in respect of the National Debt over the coming period. The data requested by the Deputy is reflected in the following table. The "repayment of the principal" figures reflect Government bonds and EU/IMF Programme loan facilities only. The forecast interest expenditure figures relate to the General Government...

Written Answers — Department of Finance: Universal Social Charge Abolition (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 187 and 188 together. I am advised by Revenue that the estimated first and full year cost to the Exchequer resulting from the abolition of the Universal Social Charge (USC) for all taxpayers with income under €100,000, and the maintenance of all the existing USC rates and bands for taxpayers with income of €100,000 or over, is in the order of...

Written Answers — Department of Finance: Departmental Properties (27 Sep 2016)

Michael Noonan: I am advised by Revenue that having regard to the provisions of Section 851A of the Taxes Consolidation Act 1997, whereby Revenue is obliged to treat taxpayer information confidentially, they are precluded from providing the information requested.

Written Answers — Department of Finance: Motor Insurance (27 Sep 2016)

Michael Noonan: The MIBI was established by agreement between the motor insurance industry and the Minister for Local Government in 1955.Later agreements were made with the Minister for Transport.  The current agreement between the MIBI and the Minister for Transport, Tourism and Sport dates from 2009 and is in compliance with the requirements of consolidated EU Motor Insurance Directive...

Written Answers — Department of Finance: State Banking Sector (27 Sep 2016)

Michael Noonan: As the deputy is aware, the State has a shareholding of 99.9% in AIB. This shareholding is a valuable asset to the State and it is the Government's intention that the State would exit this and our other banking investments in a measured and careful manner. As I have indicated on a number of occasions, my primary objective in the disposal of these assets will be recovering the...

Written Answers — Department of Finance: Property Tax Data (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 193 and 194 together. In relation to Question 26961/16, I am advised by Revenue that a breakdown in the ranges requested by Deputy cannot be provided due to confidentiality considerations.  The available information in respect of certain ranges of property numbers is as shown in the table below.  The Deputy may wish to note that the estimated number...

Written Answers — Department of Finance: Housing Data (27 Sep 2016)

Michael Noonan: My Department does not collate such information. I am also advised by NAMA and the Revenue Commissioners that those bodies, likewise, do not collate this data. Income tax returns submitted to Revenue in respect of rental income are not furnished in a manner that would enable the prior ownership of rental properties to be identified, nor do they provide information on the tenants.

Written Answers — Department of Finance: Stamp Duty (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 196 to 198, inclusive, together. I am advised by Revenue that the projected yields from increasing the current rate of stamp duty on commercial property from 2% to 6% or 10% could be in the region of €468 million and €936 million respectively. The projected yield from increasing the current rate of stamp duty on shares from 1% to 4% or 5% could...

Written Answers — Department of Finance: Tax Data (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 199 and 200 together. I am informed by Revenue that the gross rental income (residential and commercial) declared on Income Tax returns is in the order of €4,573 million for 2011, €4,446 million for 2012, €4,301 million for 2013 and €4,322 million for 2014, the latest year for which returns are available. The rental income...

Written Answers — Department of Finance: Housing Policy (27 Sep 2016)

Michael Noonan: Developments in the commercial real estate market, and the residential real estate market for that matter, are of significant importance for the economy and financial stability. The Commission's analysis of the sector follows strong growth in commercial real estate activity in recent years, with prices having recovered in the region of 55 per cent since the trough in the first quarter of...

Written Answers — Department of Finance: Banking Sector Data (27 Sep 2016)

Michael Noonan: The Central Bank of Ireland publishes a wide variety of statistics, the data is however, provided on an aggregate basis and does not include loan exposures outside this jurisdiction. Table A.14: Credit Advanced to Irish Resident Private-Sector Enterprises relates to the Deputy's question. A.14Outstanding Tab (Item 11.2 "Property investment/development of commercial real estate) provides data...

Written Answers — Department of Finance: Tax Code (27 Sep 2016)

Michael Noonan: Dental expenses, including those listed by the Deputy, may qualify for tax relief under section 469 of the Taxes Consolidation Act 1997, which allows relief for health expenses incurred for the provision of health care.  With effect from 1 January 2009, relief in respect of qualifying health expenses, with the exception of relief in respect of nursing home expenditure, is granted at the...

Written Answers — Department of Finance: Mortgage Arrears Rate (27 Sep 2016)

Michael Noonan: The Deputy will be aware that my officials have since August 2013 published monthly returns on mortgage arrears levels in the six main banks representing approximately 90 per cent of the market.  The data clearly shows that the number of accounts with mortgage arrears on primary dwelling homes (PDH) is declining.  Of course the Central Bank quarterly Residential Mortgage...

Written Answers — Department of Finance: VAT Rate Reductions (27 Sep 2016)

Michael Noonan: The VAT rating of goods and services are subject to the requirements of EU VAT law with which Irish VAT law must comply. The VAT Directive provides that Member States may apply either one or two reduced rates to certain goods and services listed in Annex III of the Directive.  In addition, the Directive allows for historic VAT treatment to be maintained under certain conditions on...

Written Answers — Department of Finance: Tax Code (27 Sep 2016)

Michael Noonan: I am advised by Revenue that, under section 86 of the Capital Acquisitions Tax Consolidation Act 2003, gifts and inheritances of dwelling-houses can qualify for an exemption from the payment of Capital Acquisitions Tax (CAT) once certain conditions are satisfied. This relief is referred to as the "dwelling house exemption". One of the qualifying conditions for the dwelling house exemption...

Written Answers — Department of Finance: Revenue Commissioners Resources (27 Sep 2016)

Michael Noonan: I am advised by Revenue that Revenue's Comprehensive Review of Expenditure 2014 estimated that by increasing audit staffing resources by c.100 staff an additional exchequer yield of €50m per annum could be achieved. On this basis it is estimated that by increasing audit staffing resources by c.200 staff an additional exchequer yield of €100m per annum could be achieved.  ...

Written Answers — Department of Finance: Motor Insurance Regulation (27 Sep 2016)

Michael Noonan: The Cost of Insurance Working Group, chaired by Minister of State Eoghan Murphy TD, is undertaking a review of the factors which are influencing the increased cost of motor insurance.  The Working Group brings together all the relevant Departments and Offices involved with the process, including the Central Bank.  Its objective is to identify immediate and longer term measures...

Written Answers — Department of Finance: State Aid Investigations (27 Sep 2016)

Michael Noonan: The Government has authorised me to arrange for annulment proceedings to be brought before the General Court of the European Union in the Apple State case. The Attorney General has been requested to prepare the legal grounds in support of those proceedings and to take all other steps incidental to the conduct of those proceedings. Dáil Eireann has also passed a motion supporting the...

Written Answers — Department of Finance: State Aid Investigations (27 Sep 2016)

Michael Noonan: I first learned of the impending Commission decision following a phone call from Commissioner Vestager on Tuesday 23rdAugust. In that conversation I was given to understand that the Commission would issue a negative decision early the following week. I was given no confirmation of the date of the decision, no indication of the size of the recovery amount, nor was I provided with any...