Results 24,481-24,500 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Departmental Correspondence (11 Oct 2016)

Michael Noonan: The correspondence in question has been forwarded by my Department to Revenue and I am informed by Revenue that they intend to issue a response in the coming week to my Department on the matters you have raised. I will revert to you on receipt of Revenue's response.

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

Michael Noonan: I propose to take Questions Nos. 98 and 100 together. VAT receipts at end-September 2016, were down €278 million (2.7%) against an ambitious target.  While retail sales have been strong in the year, with the volume of retail sales up 5.2% year-on-year, the increase in the value of retail sales is much more modest at 2.9% reflecting the fact that there is very little inflation...

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

Michael Noonan: The position is that at end-September stamp duty receipts were down 13% or €110 million in year-on-year terms. However, it is important to point out that the year-on-year decrease is primarily due to the cessation of the pension levy (which accounted for €159 million of stamp duty receipts last year at end-September 2015) in December 2015.  Therefore, excluding the pension...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (12 Oct 2016)

Michael Noonan: I am informed by the Ireland Strategic Investment Fund (ISIF) that its shareholdings in companies outside Ireland are held in the global portfolio. The global portfolio has been restructured and is being sold over time to fund Irish investment commitments as they arise, in keeping with ISIF's mandate to invest on a commercial basis to support economic activity and employment in Ireland. In...

Written Answers — Department of Finance: Credit Union Regulation (12 Oct 2016)

Michael Noonan: The Report of the Commission on Credit Unions, published in 2012, made a number of recommendations, including in relation to governance requirements for credit unions.  Recommendations made were agreed by all stakeholders including credit union representative bodies. These governance requirements set out the role and responsibilities of two key positions within the credit union -...

Written Answers — Department of Finance: Insurance Coverage (13 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: Motor Insurance (13 Oct 2016)

Michael Noonan: I am aware of the increasing cost of motor insurance and am very concerned about it.  However, the ability of the Government to influence pricing is limited as insurance companies are required under European law to price in accordance with risk and neither I, as Minister for Finance, nor the Central Bank of Ireland, have the power to direct insurance companies on the pricing of...

Written Answers — Department of Finance: Office of the Comptroller and Auditor General (13 Oct 2016)

Michael Noonan: The position of Comptroller and Auditor General (C & AG) was provided for both in the 1922 Irish Free State Constitution, which stated "Dáil Eireann shall appoint a Comptroller and Auditor-General to act on behalf of the Irish Free State (Saorstát Eireann). He shall control all disbursements and shall audit all accounts of moneys administered by or under the authority...

Written Answers — Department of Finance: Tax Data (13 Oct 2016)

Michael Noonan: As was set out in the 2014 Report on Tax Expenditures, the definition of a tax expenditure in Irish legislation draws on an OECD definition and describes a tax expenditure as a transfer of public resources that is achieved by: (a) Reducing tax obligations with respect to a benchmark tax rather than by direct expenditure; or (b) Provisions of tax legislation that reduce or postpone revenue for...

Written Answers — Department of Finance: Inniúlacht sa Ghaeilge sa Státseirbhís (13 Oct 2016)

Michael Noonan: Níl aon phost sa Roinn daingnithe mar phost a bhfuil riachtanas Gaeilge ag baint leis. Ní gnách leis an Roinn seirbhisí a chur ar fáil don phobal go díreach.  Mar sin féin, sa chás go bhfuil gá le haistriúchán agus nach bhfuil ball foirne atá inniúil i nGaelige ag Rannóga, nó nach bhfuil an duine sin ar...

Written Answers — Department of Finance: Inniúlacht sa Ghaeilge sa Státseirbhís (13 Oct 2016)

Michael Noonan: Tá an Roinn eolach ar na dualgais atá uirthi faoi Acht na dTeangacha Oifigiúla, 2003. Níl sé riachtanach go mbeadh sprioc ag an Roinn faoin reachtaíocht. Tá dualgais na Roinne faoin reachtaíocht leagtha amach ina Scéim Teanga, 2014-2017, a foilsíodh i 2014. Tabhair faoi deara go ndearnadh...

Written Answers — Department of Finance: Earcaíocht san Earnáil Phoiblí (13 Oct 2016)

Michael Noonan: Ní mheasann an Roinn go bhfuil gá le poist áirithe  a líonadh  le cainteoirí Gaeilge toisc nach bhfuil sé riachtanach dúinn é a dhéanamh faoin reachtaíocht. Ní gnách leis an Roinn seirbhisí a chur ar fáil don phobal go díreach.  Mar sin féin, sa chás go bhfuil...

Written Answers — Department of Finance: VAT Registration (13 Oct 2016)

Michael Noonan: VAT is governed by the EU VAT Directive (Council Directive 2006/112/EC), with which Irish VAT law must comply. The EU VAT Directive provides that VAT registration thresholds may only be raised by Member States to maintain their value in real terms, that is, they may only be increased in line with inflation. The VAT thresholds were increased to their current values on 1 May 2008. As the...

Written Answers — Department of Finance: Tax Code (13 Oct 2016)

Michael Noonan: The Tax Strategy Group is in place since the early 1990's and is chaired by the Department of Finance with membership comprising senior officials and political advisers from a number of Civil Service Departments and Offices. Its terms of reference are as follows: To examine and develop proposals for measures in the areas of taxation, PRSI and levies, for Budget and Finance Bill within...

Written Answers — Department of Finance: Corporation Tax Regime (13 Oct 2016)

Michael Noonan: Brazil's inclusion of Ireland on their tax list has been in operation since 1 October.  The impact of the listing involves increased Brazilian withholding taxes being charged on certain payments made from Brazil to Ireland.  This may have implications for Irish businesses trading with Brazil or that have operations or investments in Brazil. Significant...

Written Answers — Department of Finance: Tax Reliefs Availability (18 Oct 2016)

Michael Noonan: The Deputy will be aware that I announced a "Help to Buy" initiative in the Budget, which will provide an income tax rebate to first time buyers to assist them in getting the deposit for their first home, as required under the Central Bank's macro-prudential mortgage rules. This scheme is open to both those who purchase a new build, and those who self-build, where these individuals meet...

Written Answers — Department of Finance: Money Laundering (18 Oct 2016)

Michael Noonan: I would note that pursuant to Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, as amended, financial institutions including those offering mortgages are required to identify and verify customers identities. Where suspicions arise that persons have been or are engaged in an offence of money laundering, those institutions are required to report such...

Written Answers — Department of Finance: Customs and Excise Controls (18 Oct 2016)

Michael Noonan: I am advised by Revenue that a decision on whether to undertake a visit to or an intervention at an aerodrome is dictated by Revenue's assessment of risk, having regard to a range of factors, which for operational reasons Revenue is not in a position to disclose. Where visits or interventions are undertaken, there is no prior notification of same. The number of visits for the location...

Written Answers — Department of Finance: House Purchase Schemes (18 Oct 2016)

Michael Noonan: In Budget 2017, I announced a "Help to Buy" initiative which will provide an income tax rebate to first time buyers to assist them in getting the deposit for their first home, as required under the Central Bank's macro-prudential mortgage rules. This scheme is a complement to the structural actions in the Action Plan for Housing and Homelessness published on 19th July 2016, and applies...

Written Answers — Department of Finance: House Purchase Schemes (18 Oct 2016)

Michael Noonan: In Budget 2017, I announced a "Help to Buy" initiative which will provide an income tax rebate to first time buyers to assist them in getting the deposit for their first home. In line with the Central Bank's macro-prudential rules, a joint purchase where one person has bought previously is designated as a non-first-time buyer under the initiative. This applies whether the person continues to...