Results 24,461-24,480 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: VAT Rate Application (11 Oct 2016)

Michael Noonan: VAT is charged on the supply of goods and services, and the rate applying is subject to the requirements of EU VAT law with which Irish VAT law must comply.  While most tourist related services are subject to the 9% reduced VAT rate, it is not possible to extend this treatment to all tourist activity, such as beauticians working in the tourism industry. While hairdressing services...

Written Answers — Department of Finance: Banking Operations (11 Oct 2016)

Michael Noonan: I can confirm for the Deputy that I am aware of matter he has referred to. Notwithstanding the State's 14% minority shareholding in BOI, it should be noted that I in my role as the Minister for Finance, have no direct function in the relationship between the bank and its customers. Decisions taken by the bank in this regard are matters for the board and management of the...

Written Answers — Department of Finance: Banking Sector Regulation (11 Oct 2016)

Michael Noonan: Irish Collective Asset-management Vehicles ("ICAVs") are corporate entities which may only operate as regulated collective investment schemes ("funds"); either Undertakings for Collective Investment in Transferable Securities ("UCITS") or as Alternative Investment Funds ("AIFs").  The ICAV is one of a range of legal structures available only to managers...

Written Answers — Department of Finance: Tax Credits (11 Oct 2016)

Michael Noonan: I am advised by Revenue that the person concerned had her tax credits reduced to reflect the fact that she was in receipt of  Maternity Benefit, Job Seekers Benefit and One Parent Family Payment. Revenue would expect that, notwithstanding the reduction in tax credits, based on her current earnings the person would not be due to pay tax. Revenue will make direct contact with the...

Written Answers — Department of Finance: Tobacco Control Measures (11 Oct 2016)

Michael Noonan: I understand that the European Union (Manufacture, Presentation and Sale of Tobacco and Related Products) Regulations 2016, made by my colleague the Minister for Health, will require that retail packets of roll-your-own tobacco contain tobacco weighing not less than 30 grams. Enforcement of compliance with this requirement will be a matter primarily for the Health Services Executive. The...

Written Answers — Department of Finance: Social Insurance Rates (11 Oct 2016)

Michael Noonan: The Department of Social Protection estimates that the yield in a full year from increasing the Class A employer PRSI rate by 3% from 10.75% to 13.75% on the portion of salary paid in excess of €100,000 per annum would be €198.8 million. This estimate is based on macro-economic indicators for 2017 only, and based on changes to social insurance contributions paid under PRSI...

Written Answers — Department of Finance: Insurance Costs (11 Oct 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I, nor the Central Bank of Ireland, have the power to direct insurance companies on the pricing of insurance products. The EU framework for insurance expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval...

Written Answers — Department of Finance: Tax Credits (11 Oct 2016)

Michael Noonan: The legislation governing entitlement to the incapacitated child tax credit is contained in section 465 of the Taxes Consolidation Act 1997, as amended.  In broad terms, the credit is available to a parent who has custody of and maintains a child who is permanently incapacitated by reason of mental or physical infirmity.  The cost of this tax credit in 2014, the most recent year for...

Written Answers — Department of Finance: Health and Safety Regulations (11 Oct 2016)

Michael Noonan: In response to the Deputy's question, I am advised by the Bodies under the Aegis of the Department of Finance of their approach, under the Safety, Health and Welfare at Work Act 2005, about this important matter. Due to the variety of bodies, in terms of the nature and range of their activities, the situation may differ between them with regard to...

Written Answers — Department of Finance: Departmental Agencies Staff Data (11 Oct 2016)

Michael Noonan: In response to the Deputy's question, I am advised by the 18 Bodies under the Aegis of the Department of Finance that none have given gifts or hospitality to employees to attend overseas sporting or musical events during 2015.

Written Answers — Department of Finance: Banking Sector (11 Oct 2016)

Michael Noonan: As the Deputy is aware, the Programme for Government contains a commitment to investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions.  Previously, in 2015, the Sparkassenstiftung für Internationale Kooperation (Savings Banks Foundation for International Cooperation - SBFIC), with the support of the Public Banking...

Written Answers — Department of Finance: Banking Sector (11 Oct 2016)

Michael Noonan: It would not be appropriate for me to comment in detail on media speculation concerning the performance of an individual foreign bank. However, I can assure the Deputy that both my Department and the Central Bank are monitoring the situation very closely in collaboration with our EU colleagues.  In that respect my Department is not aware of any material financial exposure...

Written Answers — Department of Finance: Tax Code (11 Oct 2016)

Michael Noonan: I am advised by Revenue that an easement is an asset for capital gains tax (CGT) purposes. The receipt by a person of a capital sum for an easement is a disposal which is liable to CGT at the rate of 33%. An exemption is available in respect of the first €1,270 of chargeable gains made by an individual in a tax year.

Written Answers — Department of Finance: Tax Code (11 Oct 2016)

Michael Noonan: I am advised by Revenue that capital gains tax (CGT) is charged on gains arising on the disposal of assets irrespective of whether or not there is a monetary gain accruing to the person making the disposal. In the case referred to by the Deputy, each brother is treated as disposing of his land to the other brother, the consideration being the land that is transferred to him by the other...

Written Answers — Department of Finance: Insurance Industry Regulation (11 Oct 2016)

Michael Noonan: The liquidation of an insurance company is a legally complex and time consuming 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 has been awaiting the outcome of legal proceedings in the case of the Law Society of Ireland v the Motor Insurers' Bureau of Ireland...

Written Answers — Department of Finance: Tax Code (11 Oct 2016)

Michael Noonan: I am advised by Revenue that gifts and inheritances of agricultural property, including land, qualify for relief (known as 'agricultural relief') from the payment of Capital Acquisitions Tax (CAT) once certain conditions are satisfied. Section 89 of the Capital Acquisitions Tax Consolidation Act (CATCA) 2003 provides for 'agricultural relief'. The relief takes the form of a 90% reduction in...

Written Answers — Department of Finance: Excise Duties Collection (11 Oct 2016)

Michael Noonan: I am advised by Revenue that the total amount of revenue from Excise and VAT on alcoholic drinks for the years 2010 to 2015 is as shown in the following table. Alcohol Excise VAT Total (Estimated) €m €m €m 2010 826.4 1,010.5 1,836.9 2011 829.5 1,014.0 1,843.5 2012 846.1 1,088.8 1,934.9 2013 1,002.0 980.8 1,982.8 2014 1,139.8 1,053.3 2,193.1 2015...

Written Answers — Department of Finance: Tax Collection (11 Oct 2016)

Michael Noonan: It is assumed that the Deputy's Question is referring to outcomes from the programme of compliance interventions conducted by the Revenue. I am advised that Revenue, generally, conducts compliance interventions based on a range of risk criteria in specific cases rather than by particular sectors or groups.  However, sectoral projects are initiated where Revenue wishes to examine...

Written Answers — Department of Finance: Stamp Duty (11 Oct 2016)

Michael Noonan: I am advised by Revenue that the pre-Budget 2017 Ready Reckoner is available on the Revenue Statistics webpage at: www.revenue.ie/en/about/statistics/index.html. While the Ready Reckoner changes for Stamp Duty do not show the specific rate increase requested by the Deputy, changes can be estimated broadly on a pro-rata or straight-line basis with those displayed in the Reckoner.

Written Answers — Department of Finance: Banking Sector Regulation (11 Oct 2016)

Michael Noonan: The deputy will be aware that I in my role as the Minister for Finance, have no direct function in the relationship between the bank and its customers. Decisions taken by the bank in this regard are matters for the board and management of the institution. The Minister for Finance must ensure that the bank is run on a commercial, cost effective and independent basis...