Results 24,681-24,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Tax Collection (2 Nov 2016)

Michael Noonan: I am advised by Revenue that the person concerned failed to pay either his 2015 or 2016 Local Property Tax (LPT) liabilities totalling €630, excluding interest, despite receiving a number of notifications reminding him to do so. As a consequence the debt was referred to the Sheriff for collection. The person concerned subsequently paid the 2015 liability to the Sheriff and...

Written Answers — Department of Finance: Credit Union Regulation (2 Nov 2016)

Michael Noonan: In tandem with my commencement on 1 January 2016 of the final sections of the Credit Union and Co-operation with Overseas Regulators Act 2012 providing regulation making powers to the Central Bank, the Central Bank introduced new regulations - the Credit union Act 1997 (Regulatory Requirements) Regulations 2016 (the Regulations). The Regulations set out,inter alia,an individual...

Written Answers — Department of Finance: VAT Yield (2 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 110 and 111 together. I am advised by Revenue that, based on Personal Expenditure Consumption (PCE) data, an estimate of the VAT yield and the VAT foregone at the reduced rate of 9% for each year from 2011 to 2016 is provided in the table below.  As 2016 PCE data are not yet available, figures provided for 2016 are provisional estimates. Year Yield 9%...

Written Answers — Department of Finance: VAT Rate Reductions (2 Nov 2016)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Article 98 of the EU VAT Directive limits to two the number of reduced rates a Member State may have.  Since Ireland has two reduced rates, the 13.5% and the 9% rate, it would not be possible to introduce a third reduced rate for a category of construction activities....

Written Answers — Department of Finance: Departmental Legal Costs (2 Nov 2016)

Michael Noonan: The information requested by the Deputy is contained in the following table and is taken from the information already published on my Department's website. External Legal Advice 2015 Alexander Caffrey €24,364 Aoife Goodman €55,052 Arthur Cox €934,654 Dillon Eustace €36,900 Emma Doyle €20,139 GEON Legal Solutions €120,036 Hayes Solicitors...

Written Answers — Department of Finance: Vehicle Registration (2 Nov 2016)

Michael Noonan: The provisions relating to temporary exemption are set out in section 135 of the Finance Act 1992 (as amended). The administration of these provisions (and, indeed, the administration of all tax legislation) is a function independently carried out by Revenue and I cannot instruct them in how to apply legislative provisions either on a case-by-case basis or in a general way. The case referred...

Written Answers — Department of Finance: EU Funding (2 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 115 and 116 together. The Strategic Banking Corporation of Ireland's (SBCI) objective is to increase the availability of low cost, flexible credit to Irish SMEs. The SBCI published its first Annual Report and Accounts, for the period 1 September 2014 to 31 December 2015, on 21 July 2016. The Annual Report and Accounts were sent by the board of the SBCI...

Written Answers — Department of Finance: Help-To-Buy Scheme Administration (3 Nov 2016)

Michael Noonan: The commencement date for the Help to Buy scheme of 19 July 2016 was chosen as it was the date of the launch of 'Rebuilding Ireland - Action Plan for Housing and Homelessness', in which the development of such a scheme for inclusion in the Budget was initially announced. The intention to backdate this tax incentive to this date was announced at that time with a view...

Written Answers — Department of Finance: Tax Code (3 Nov 2016)

Michael Noonan: Section 1003 of the Taxes Consolidation Act 1997 provides for the payment of tax by means of the donation of heritage items. The scheme provides that, where a heritage item is donated to an approved body, a tax credit equivalent to 80% of the market value of the item is available to the donor to be set against any arrears of tax from prior years, any current taxation liabilities, with any...

Written Answers — Department of Finance: Financial Services Ombudsman Data (3 Nov 2016)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions. To answer the Deputy's question, the Financial Services Ombudsman's Bureau has provided the following information:- Year Complaints Closed Complaints Closed due to 6 year rule Percentage of Complaints Closed due to 6 year rule 2011 7464 283 4% 2012...

Written Answers — Department of Finance: Tax Yield (3 Nov 2016)

Michael Noonan: I am advised by Revenue that the annual cost to the Exchequer of Section 23 tax relief for 2004 to 2014, the latest year for which data are available, are included in their 'Costs of Tax Expenditures (Credits, Allowances and Reliefs)' table located on their web page at , the relevant row in the table is titled "Rented Residential Relief - Section 23". The Section 23 tax costs show the...

Written Answers — Department of Finance: Insurance Costs (3 Nov 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation but am prohibited from interfering in the provision or pricing of insurance products.  The EU framework for insurance expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of the...

Written Answers — Department of Finance: Equality Proofing of Budgets (3 Nov 2016)

Michael Noonan: The Programme for a Partnership Government contains a commitment to develop a process of budgetary and policy proofing as a means of advancing equality, reducing poverty and strengthening economic and social rights and, in this regard, my Department has already made process around the discussion on taxation policy. For example, in 2016 as part of the reformed budgetary process,...

Written Answers — Department of Finance: Property Tax Data (3 Nov 2016)

Michael Noonan: I am advised by Revenue that as such interest payments are not separately identifiable on Revenue records, a breakdown of the interest paid as  requested by the Deputy is not available.

Written Answers — Department of Finance: Tax Code (8 Nov 2016)

Michael Noonan: This proposed Irish Real Estate Fund is not a tax incentive for people investing in commercial property. Under the proposal, payments from the IREF made to non-resident investors will be subject to a new 20% withholding tax. All rental income and development profits earned by the IREF will be included in the calculation of the IREF's profits. Where an IREF makes a distribution...

Written Answers — Department of Finance: Health Insurance Regulation (8 Nov 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.  There is no role for my Department or the Central Bank in this area and I am therefore unable to comment on the particular details provided. As...

Written Answers — Department of Finance: Tax Code (8 Nov 2016)

Michael Noonan: I am informed by Revenue that Section 825A of the Taxes Consolidation Act 1997 (TCA) (as inserted by section 13 Finance Act 1998), which provides relief for trans-border workers, is confined only to employees holding certain employments outside the State. The scheme was originally introduced in response to concerns raised by cross border workers concerning the tax position of employees...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (8 Nov 2016)

Michael Noonan: I am informed by the Ireland Strategic Investment Fund (ISIF) that as at 31st October 2016 ISIF had equity holdings in three tobacco companies with a value of €1.5 m or 0.02 per cent of its total assets. Such investments should be considered in the context of ISIF's broader portfolio and the Fund's commitment to responsible investment. ISIF has recently published its...

Written Answers — Department of Finance: Exchequer Revenue (8 Nov 2016)

Michael Noonan: The information sought by the Deputy is set out in the following table. It shows the Exchequer tax outturns from 2006 to 2015 and the forecast for Exchequer tax revenues from 2016 to 2021, as set out in Budget 2017 last month. These nominal outturns and forecasts are also expressed as a percentage of Gross Domestic Product (GDP), Gross National Product (GNP) and on a per capita basis in the...

Written Answers — Department of Finance: Tax Reliefs Costs (8 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 113 and 116 together. I am advised by Revenue that the annual cost to the Exchequer of Section 23 Rented Residential Relief tax relief for 2004 to 2014, the latest year for which data are available, are included in their 'Costs of Tax Expenditures (Credits, Allowances and Reliefs)' table located on their webpage at...