Results 23,941-23,960 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: UK Referendum on EU Membership (27 Sep 2016)

Michael Noonan: While it is not the result that we hoped for, the Government fully accepts and respects the outcome of the democratic process in the UK. The key issues for Ireland associated with such an outcome have been articulated on numerous occasions by me and other members of the Government and relate to the close economic relationship with the UK, Northern Ireland, the Common Travel Area and the EU...

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. The appeal is to be lodged by 10 November 2016. Member...

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

Michael Noonan: On 30 August 2016, it was announced that the Commission had concluded their single investigation in Ireland and had issued a negative decision in the Apple State Aid case.   Over the course of the three year investigation, detailed and comprehensive responses were provided to the Commission demonstrating that the appropriate amount of Irish tax was charged in accordance with...

Written Answers — Department of Finance: VAT Rate Application (27 Sep 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. The Programme for a Partnership Government published in May, includes a commitment to retain the hugely successful 9% VAT rate on tourism related services, providing that prices remain...

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

Michael Noonan: As Minister for Finance, I am concerned that there should be a stable insurance sector and that the risks to policyholders and to the wider financial system are limited. An adequately-reserved, cost-competitive insurance sector is a vital component of economic activity and financial stability. The current high cost of insurance is a concern for the Government. While the provision...

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

Michael Noonan: A Real Estate Investment Trust (REIT) is a collective investment vehicle designed to hold properties in a tax neutral manner. The function of the REIT regime is to eliminate the double layer of taxation that is usually associated with holding properties in a corporate or collective vehicle. A REIT is exempt from any tax on its qualifying income and gains from rental property, however, the...

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

Michael Noonan: I am advised by Revenue that a wide range of statistical information is available on the Revenue Statistics webpage at. In relation to the Deputy's Question, information on the projected yield from increasing the rate of Capital Gains Tax (CGT) can be found on the webpage under the "Ready-Reckoner" heading (). While the Ready Reckoner does not show the specific rate increase requested by the...

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

Michael Noonan: Part 12 of the Finance (Local Property Tax) Act 2012 (as amended) provides for a deferral of Local Property Tax (LPT) where there is an inability to pay and certain specified conditions are met. Once granted a deferral normally remains in place for the particular valuation period (2013-2019). The annual rate of interest currently applied to deferrals is 4%. The interest is added to the...

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

Michael Noonan: In response to the Deputy's question, my officials have consulted with Bodies under the Aegis of the Department of Finance, and the information sought is provided in tabular form below. Name of body Comments Cost of introducing minimum wage of €12 an hour Cost of introducing minimum wage of €13 an hour Cost of introducing minimum wage of €14 an hour Cost of introducing...

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

Michael Noonan: In response to the Deputy's question, my officials have consulted the Bodies under the Aegis of the Department, and the information requested is provided in tabular form below. The question has been answered on the basis that a normal working week is 40 hours. Name of body Comment Cost of introducing minimum weekly gross wage of €480 for all full-time employees Cost of introducing...

Written Answers — Department of Finance: Disabled Drivers Grant Applications (28 Sep 2016)

Michael Noonan: 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 applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Tax Code (28 Sep 2016)

Michael Noonan: The Programme for a 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. The Department of Health has also supported the introduction of a tax on SSDs in order to reduce added-sugar in diets, particularly...

Written Answers — Department of Finance: Tax Code (28 Sep 2016)

Michael Noonan: Non-profit groups engaged in non-commercial activity are exempt from VAT under the EU VAT Directive.  This means that they do not register for VAT and cannot recover VAT incurred on goods and services that they purchase.  This non-entitlement to VAT deductibility is a general feature of VAT exemption. A Working Group was established last year comprising representatives from my...

Written Answers — Department of Finance: NAMA Portfolio (28 Sep 2016)

Michael Noonan: I am advised by NAMA that the Agency has had no involvement whatsoever in the matters raised by the Deputy as the referenced property did not, at any stage, secure NAMA's loans.

Written Answers — Department of Finance: Tax Code (28 Sep 2016)

Michael Noonan: Where a couple is cohabiting, rather than married or in a civil partnership, each partner is treated for the purposes of income tax as a separate and unconnected individual. Because they are treated separately for tax purposes, credits, tax bands and reliefs cannot be transferred from one partner to the other. Cohabitants do not have the same legal rights and obligations as a married couple...

Written Answers — Department of Finance: EU Budget Contribution (28 Sep 2016)

Michael Noonan: Member State contributions to the EU Budget are based upon a formula which includes Traditional Own Resources (customs duties), a VAT-based payment and a residual balancing component paid in accordance with each Member State's share of EU Gross National Income (GNI). While the methodology has evolved over time in order to make it as responsive as possible to both the changes associated...

Written Answers — Department of Finance: Tax Data (28 Sep 2016)

Michael Noonan: I am advised by the Revenue Commissioners that the pre-Budget 2017 Ready Reckoner is available on the Revenue Statistics webpage at . In relation to the Deputy's question, this Ready Reckoner shows a wide range of detailed information, including the estimated cost to the Exchequer of changes in Deposit Interest Retention Tax (DIRT).

Written Answers — Department of Finance: Home Renovation Incentive Scheme Data (28 Sep 2016)

Michael Noonan: 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 exchequer as not all credits...

Written Answers — Department of Finance: Tax Code (28 Sep 2016)

Michael Noonan: As the Deputy is aware, the income tax system contains an exemption limit for individuals aged 65 or over. Where an individual's income exceeds the exemption limit, he or she is liable to tax based on the normal system of rate bands and tax credits, but he or she may still benefit from marginal relief. This is explained in further detail in leaflet IT8, available on...

Written Answers — Department of Finance: Tax Data (28 Sep 2016)

Michael Noonan: I am advised by Revenue that the pre-Budget 2017 Ready Reckoner is available on the Revenue Statistics webpage at: .The estimates given on the Ready Reckoner for CAT changes are in respect of full year costs. The equivalent estimated first year costs being €15.3 million for Group A, €6.2 million for Group B and €1.2 million for Group C.