Results 24,701-24,720 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Stamp Duty (8 Nov 2016)

Michael Noonan: It is assumed that the Deputy is referring to the period from 31 March 2007 to 8 December 2010 during which first time buyers were entirely exempt from stamp duty. I am advised by Revenue that the following table shows the annual tax foregone as a result of this exemption. Year Tax Foregone €m 2010 79 2009 82 2008 179 2007 136

Written Answers — Department of Finance: VAT Exemptions (8 Nov 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 (8 Nov 2016)

Michael Noonan: I would refer the Deputy to my reply to Question 31481/16 regarding the legislative position concerning VAT exemptions and the services of locum doctors. In the specific case mentioned by the Deputy, I am advised by Revenue that the service concerned is the supply of medical professionals to third parties and is therefore within the charge to VAT and taxable at the standard rate. I am...

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

Michael Noonan: I propose to take Questions Nos. 118 and 131 together. The Help to Buy scheme is being introduced as one of the many actions to develop a fully functioning housing market that responds adequately to the needs of our citizens set out in 'Rebuilding Ireland - The Action Plan for Housing and Homelessness' which was launched last July. One of the policy aims of the...

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

Michael Noonan: The scheme for tax relief on donations to eligible charities and other approved bodies is provided for in Section 848A of the Taxes Consolidation Act (TCA) 1997. Following consultation and engagement with the charities sector, the scheme was amended in the 2013 Finance Act in order to reduce administrative costs for donors, charities and the Revenue Commissioners. Under the scheme all...

Written Answers — Department of Finance: Credit Unions (8 Nov 2016)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank of Ireland is the independent regulator for credit unions. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual...

Written Answers — Department of Finance: VAT Yield (8 Nov 2016)

Michael Noonan: I am informed by the Revenue Commissioners that an estimate of the VAT revenue gain from the sale of new houses from the past 10 years is provided in tabular form: Year Estimated VAT Yield New Housing (€m) 2006 2,727 2007 2,487 2008 1,289 2009 632 2010 333 2011 159 2012 403 2013 405 2014 417 2015 403 2016 (provisional) 563 It should be noted that these figures are subject...

Written Answers — Department of Finance: Brexit Issues (8 Nov 2016)

Michael Noonan: I am aware, as is my Department, of the impact of recent exchange rate developments on the retail sector, particularly in the border region. Since the UK's vote on the 23rd June the euro has appreciated by over 15 per cent against sterling and is currently trading at around €1 = £0.89 with adverse implications for the Irish economy in general, most notably for Irish...

Written Answers — Department of Finance: Motor Insurance (8 Nov 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: State Aid (8 Nov 2016)

Michael Noonan: The EU Commission found that the exemption from excise duty granted by Ireland to a company in respect of heavy fuel oils used in the production of alumina constituted State aid.  As a result a total of some €14.5m "state aid" has been recovered from the company. These monies are being held in a deposit account. The judgement of 22 April 2016 is the most recent in a long...

Written Answers — Department of Finance: Vehicle Registration (8 Nov 2016)

Michael Noonan: Exemptions and reliefs from Vehicle Registration Tax are provided for in sections 134 and 135 of the Finance Act 1992 (as amended). No provision is made for motorcycles such as those in the details provided. In relation to VAT, charities and non-profit groups engaged in non-commercial activity are exempt from VAT under the EU VAT Directive (Council Directive 2006/112/EC) with which Irish...

Written Answers — Department of Finance: Ministerial Appointments (8 Nov 2016)

Michael Noonan: Professor John McHale has informed my Department that he is not putting himself forward for reappointment for a further term as a member of the Fiscal Council when his current term of office expires on 31 December 2016. As Professor McHale is also the current chairperson of the Council, this will also create a vacancy for the position of chairperson. In order to...

Written Answers — Department of Finance: EU Budget Contribution (8 Nov 2016)

Michael Noonan: As outlined in the following table, Ireland became a net contributor to the EU budget in 2014. EU Budget payments and public sector receipt data are published annually by the Department of Finance in the Budget Statistics bulletin. The public sector receipt measure captures funds under 'shared management' between national and EU authorities. In addition, the EU also pays some additional...

Written Answers — Department of Finance: Brexit Issues (8 Nov 2016)

Michael Noonan: Until it formally withdraws from the Union, the UK remains a full EU Member, with all of its existing rights and obligations including in relation to the EU budget. Brexit is likely to involve complex discussion on the Multiannual Financial Framework, particularly as the UK is an important net contributor to the EU Budget. Therefore, Brexit will have a significant impact on EU Budget...

Written Answers — Department of Finance: VAT Exemptions (8 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. EU VAT exemptions are set out in Articles 132 and 135 of the VAT Directive (Council Directive 2006/112/EC) and do not cater for the supply of rescue and safety equipment. Therefore, it is not possible to exempt the equipment mentioned by the Deputy. In 2013, I...

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

Michael Noonan: I am advised by Revenue that there has been ongoing engagement with the person concerned and his agent as regards the measures that are needed in order for the person to bring his  tax affairs up to-date. The resolution of these matters will facilitate the person in claiming an old age pension. Revenue will make further contact with  the person concerned with a view to progressing...

Written Answers — Department of Finance: Stability and Growth Pact (9 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 73 and 74 together. As the Deputy is aware (Parliamentary Questions 20 and 69 of 29/09/2016) the fiscal rules to which Ireland is subject have direct application through a number of EU regulations as well as having domestic legal effect through the Fiscal Responsibility Act 2012 following the passage of a constitutional referendum in May 2012....

Written Answers — Department of Finance: Economic Policy (9 Nov 2016)

Michael Noonan: I want to assure the Deputy that both I and my Department are conscious of the distinction between borrowing for current and capital purposes.  I also want to assure the Deputy that I and my Department are aware that our debt level is of the order €200 billion this year.  Moreover, both I and my Department are conscious of the fact that market access on...

Written Answers — Department of Finance: Carbon Tax Exemptions (9 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 76 and 77 together. Combined Heat and Power (CHP) is the simultaneous generation of usable heat and electricity in a single process. The dual process of using energy inputs to generate both heat and power is the most efficient use of fuel with an energy efficiency of up to 80%, which is significantly higher than individual processes. It makes use of the...

Written Answers — Department of Finance: Property Tax Exemptions (9 Nov 2016)

Michael Noonan: I am advised by Revenue that residential properties that are included in a list of unfinished housing estates prescribed in 2013 by the then Minister for the Environment, Community and Local Government are currently exempt from the payment of local property tax (LPT). As with any other LPT exempt property, a property in an unfinished estate that was exempt on the first valuation date of...