Results 2,481-2,500 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (6 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 76 and 77 together. I am advised by the Revenue Commissioners that the alcohol product produced by the company in question has been determined to be subject to the rate of Alcohol Products Tax that applies to spirits. An application from the company for Binding Tariff Information for customs purposes in respect of the product is under examination by the...

Written Answers — Liquor Licences: Liquor Licences (6 Jul 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the last licence held by the taxpayer expired on the 30th September 2009 and was not renewed by him during the twelve month period ending 30th September 2010. A visit by a Revenue Official on the 8th September 2010 established that there was no licence in place and the taxpayer was advised to renew his licence on or before 30th September 2010....

Written Answers — Tax Code: Tax Code (6 Jul 2011)

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 many tourist related services were made subject to a new temporary lower reduced VAT rate of 9% from 1 July, it is not possible to extend this treatment to the goods and services that remain subject to the 13.5% rate. This arises...

Written Answers — Property Raffles: Property Raffles (6 Jul 2011)

Michael Noonan: The legal restrictions that might apply to a property owner disposing of her/his home by public raffle are a matter for the Minister for Justice and Equality, who states that it would not be appropriate to offer advice or comment; the parties should instead seek their own legal advice on the matter. However, the Minister informs me that, in the event of a raffle being regarded as a lottery,...

Written Answers — Tax Reliefs: Tax Reliefs (6 Jul 2011)

Michael Noonan: I assume that Deputy is referring to mortgage interest relief in respect of principal private residences. On that basis, I am informed by the Revenue Commissioners that the cost to the Exchequer of mortgage interest relief by way of tax relief at source (TRS) in 2010 was €375 million and in the six months to the end of June 2011 is €178 million. The cost for the full year of 2011 is...

Written Answers — Tax Reliefs: Tax Reliefs (6 Jul 2011)

Michael Noonan: Section 473 of the Taxes Consolidation Act, 1997 provides tax relief at the standard rate to individuals who pay for private rented accommodation that is used as their sole or main residence. The level of rent qualifying for rent relief depends on an individual's marital status and age. In Budget 2011, it was announced that rent relief was being withdrawn on a phased basis. No new...

Written Answers — Tax Code: Tax Code (7 Jul 2011)

Michael Noonan: The Finance (No. 2) Act 2011 provided for a second reduced VAT rate, of 9%, on a temporary basis in respect of certain services and goods mainly related to tourism for the period 1 July 2011 to end 2013. The services subject to the 9% rate include restaurant and catering services (excluding alcohol and soft drinks), lettings of rooms and accommodation provided by a hotel. Hotels must...

Written Answers — Tax Collection: Tax Collection (7 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the Universal Social Charge payable monthly by the person concerned is as follows: the first €837 of income per month at 2%; the balance of the income per month at 4%. Based on enquiries made by Revenue Commissioners to the relevant pension provider the correct charge is being levied on the person concerned.

Written Answers — Tax Code: Tax Code (7 Jul 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the total identifiable costs to the Exchequer of all income tax and corporation tax allowances, reliefs, exemptions and tax credits available are set out in the following tables for 2007 and 2008, the most recent year for which the necessary detailed historical information is available. Relevant notes relating to items in the tables are also...

Written Answers — Tax Code: Tax Code (7 Jul 2011)

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 many tourist related services were made subject to a new temporary lower reduced VAT rate of 9% from 1 July, it is not possible to extend this treatment to the goods and services that remain subject to the 13.5% rate. While...

Written Answers — Tax Code: Tax Code (7 Jul 2011)

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 many tourist related services were made subject to a new temporary lower reduced VAT rate of 9% from 1 July, it is not possible to extend this treatment to the goods and services that remain subject to the 13.5% rate. This arises...

Written Answers — Tax Code: Tax Code (7 Jul 2011)

Michael Noonan: The hire of a mobile home or caravan in a caravan park, camping site or other similar establishment is regarded as the provision of self-catering holiday accommodation and is subject to VAT at the new 9% rate, as provided for in the Finance (No. 2) Act 2011. Similarly, the hire of a site in a caravan park, camping site or other similar establishment is also liable to VAT at the new 9% rate....

Written Answers — National Asset Management Agency: National Asset Management Agency (7 Jul 2011)

Michael Noonan: Ireland follows the international norm in that losses incurred in the course of a business are taken into account in arriving at the appropriate amount of tax that a company should bear. Under existing legislation, companies are entitled to carry forward unrelieved trading losses for offset against trading profits of the same trade in future accounting periods until the losses are fully...

Written Answers — Financial Services Regulation: Financial Services Regulation (7 Jul 2011)

Michael Noonan: The Deputy will be aware that the Commission on Credit Unions was established by Government on 31 May 2011 and has begun its programme of work. The Commission will review the future of the credit union movement and make recommendations in relation to the most effective regulatory structure for credit unions. Included in the terms of reference for the Commission is the requirement to examine...

Written Answers — National Asset Management Agency: National Asset Management Agency (7 Jul 2011)

Michael Noonan: NAMA has a commercial remit to manage its portfolio of acquired loans and property to generate the best achievable financial return for the State. To date NAMA, has only acquired loans not properties or companies. Following the transfer of a debtor's loans to NAMA, each debtor is requested to complete a realistic and concise business plan. The viability of the business plan of each major...

Written Answers — Banks Restructuring: Banks Restructuring (7 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 71 and 73 together. Allied Irish Banks (AIB) and Bank of Ireland (BoI) submitted detailed deleveraging plans for the three years to the 31 December 2013 to the Central Bank of Ireland (CBI) as part of the Financial Measures Programme, which was announced on 31 March 2011. These plans outlined how the institutions would achieve a loan-to-deposit ratio of...

Written Answers — Banking Sector Staff: Banking Sector Staff (7 Jul 2011)

Michael Noonan: I am informed by AIB that it currently employs 13,890 staff on a full time equivalents (fte) basis at end June 2011. This excludes the staff (slightly in excess of 600 ftes) being taken on under the just completed acquisitions of EBS. The Deputy will appreciate that it is not possible to give a number at this stage as to what the employment level will be post the restructuring and...

Written Answers — Banking Sector Staff: Banking Sector Staff (7 Jul 2011)

Michael Noonan: The most recent annual report of Bank of Ireland states that the average number of staff in the 12 month period ending 31 December 2010 was 14,284 based on full time equivalents. It is not possible at this stage to say the number expected to be employed at the end of the downsizing and deleveraging process.

Written Answers — State Banking Sector Remuneration: State Banking Sector Remuneration (7 Jul 2011)

Michael Noonan: The bank has informed my Department that there were no reductions to the basic pay of its Chief Executive or any of its senior management team in 2010, or to date. Anglo Irish Bank is being run on an arms length commercial basis and it is therefore a matter, in the first instance, for the Board of the bank to formulate and implement its remuneration policy subject to the overall framework...

Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (7 Jul 2011)

Michael Noonan: The three members of the Group Executive Committee who were in situ in May 2009 have waived at least 10% of their basic salaries and this waiver is still in force. Details are published in the Bank's Annual Report for the year ended 31 December 2010. No reduction in basic salary has occurred for the remaining members of the Group Executive Committee and the Senior Executive Team in situ in...