Results 25,741-25,760 of 27,019 for speaker:Michael Noonan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU State Aid Rules - Investigation into Preferential Tax Rulings: Minister for Finance and Office of the Revenue Commissioners (2 Feb 2017)

Michael Noonan: Where the political side comes into it is that it is the Parliament, the Dáil and the Seanad, on the proposal of the Government of the day, that formulates tax law.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU State Aid Rules - Investigation into Preferential Tax Rulings: Minister for Finance and Office of the Revenue Commissioners (2 Feb 2017)

Michael Noonan: The Revenue would say it acted all the time in accordance with tax law. The fact that we do not tax the profits of non-resident companies for their profits outside of Ireland is a matter of law. Always in our dealings with the Commission, the law on tax that applied was domestic law because tax is within the competence of the sovereign, not within Europe.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU State Aid Rules - Investigation into Preferential Tax Rulings: Minister for Finance and Office of the Revenue Commissioners (2 Feb 2017)

Michael Noonan: I would not have that detail. It would be a matter for Revenue. A lot of this is not shared because it is confidential. The key point, from my point of view, is the fact that Apple had a particular structure for their company - it was not illegal - is not the concern of the Irish Revenue authorities. The concern of the Irish Revenue authorities was to collect all the tax that was due in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU State Aid Rules - Investigation into Preferential Tax Rulings: Minister for Finance and Office of the Revenue Commissioners (2 Feb 2017)

Michael Noonan: These matters will be tested in the appeal court, but I think they had a misunderstanding about the tax position of non-resident companies. It would be different in some European jurisdictions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU State Aid Rules - Investigation into Preferential Tax Rulings: Minister for Finance and Office of the Revenue Commissioners (2 Feb 2017)

Michael Noonan: Nothing has been brought to my attention but I am aware there are exchanges of information between the Revenue authorities and the Commission ongoing outside of the 19 that we talked about.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU State Aid Rules - Investigation into Preferential Tax Rulings: Minister for Finance and Office of the Revenue Commissioners (2 Feb 2017)

Michael Noonan: I thank the Vice Chairman and the members of the committee. I apologise for being somewhat constrained by my legal advice. As time goes by, we will be able to say more.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU State Aid Rules - Investigation into Preferential Tax Rulings: Minister for Finance and Office of the Revenue Commissioners (2 Feb 2017)

Michael Noonan: I will engage with the committee again or we will communicate information by PQ answers or whatever. It is my intention to give the committee the fullest information I can.

Written Answers — Department of Finance: Brexit Issues (7 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 147, 158, 173 and 177 together. The Government's position is very clear in that we want the closest possible trading relationship with the UK.  As articulated by the Taoiseach, any manifestation of a hard border would have very negative consequences. In that regard a key priority is to ensure the continued free flow of trade on the island and the...

Written Answers — Department of Finance: EU Budget Contribution (7 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 148, 151, 152 and 178 together. Until it formally withdraws from the European 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...

Written Answers — Department of Finance: Brexit Issues (7 Feb 2017)

Michael Noonan: Taxation is a sovereign Member State competence and decisions at Council on tax matters require unanimity. Ireland's sovereignty on tax matters is not affected by Brexit and this sovereignty is guaranteed by the EU Treaties.

Written Answers — Department of Finance: Fiscal Data (7 Feb 2017)

Michael Noonan: Ensuring the plausibility of estimates of potential growth is a key priority given their significance in the application of the fiscal rules. As previously noted by both my own Department and the Fiscal Advisory Council, the harmonised methodology for estimating potential output is subject to limitations particularly when applied to Ireland. My Department continues to assess the merit of...

Written Answers — Department of Finance: Corporation Tax (7 Feb 2017)

Michael Noonan: Taxation is a sovereign Member State competence and decisions at Council on tax matters require unanimity. Ireland's sovereignty on tax matters is not affected by Brexit and this sovereignty is guaranteed by the EU Treaties. 

Written Answers — Department of Finance: Insurance Coverage (7 Feb 2017)

Michael Noonan: I am conscious of the difficulties that the absence of flood cover can cause to householders and businesses alike.  However, you should be aware that the provision  of insurance is a commercial matter for insurance companies, which has to be based on a proper assessment of the risks they are accepting. This assessment will in relation to coastal...

Written Answers — Department of Finance: NAMA Assets Sale (7 Feb 2017)

Michael Noonan: The Deputy will be aware that I, as Minister for Finance, have no role in respect of sales by NAMA debtors or receivers or the sale of loans directly by NAMA. As the Deputy will also appreciate, these are matters for the NAMA Board in accordance with its statutory independent commercial mandate. Under Section 12 of the NAMA Act 2009, NAMA may "sell or dispose of the whole or any part...

Written Answers — Department of Finance: Vehicle Registration (7 Feb 2017)

Michael Noonan: I am advised by Revenue that the specification for the identification mark (the "registration plate") that must be displayed on vehicles is contained in the Vehicle Registration and Taxation Regulations, 1992 (S.I. No. 318 of 1992). These Regulations do not permit the application of special arrangements in relation to the registration plate to be used on coaches or any other category of...

Written Answers — Department of Finance: Energy Prices (7 Feb 2017)

Michael Noonan: I should clarify initially that my Department has no statutory function in the monitoring or setting of gas or electricity prices. Responsibility for the regulation of the electricity and gas markets is a matter for the Commission for Energy Regulation (CER), which is an independent statutory body. However, my Department does monitor and advise on all developments that can impact on the...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (7 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 159 to 162, inclusive, together. The Deputy may be aware that a two-stage process is employed for the Help to Buy incentive, under which individuals submit an application for the incentive to receive an indication of the level of tax relief that may be available to them, and subsequently submit a claim for a tax refund. This refund is generally payable...

Written Answers — Department of Finance: Credit Unions (7 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 163 and 164 together. One recommendation of the Credit Union Advisory Committee (CUAC) in the Review of Implementation of the Recommendations in the Commission on Credit Unions Report (the Report) was that an Implementation Group be established for a specified period of time to oversee and monitor implementation of those recommendations in a...

Written Answers — Department of Finance: Credit Union Lending (7 Feb 2017)

Michael Noonan: On 1 January 2016 I commenced the final sections of the Credit Union and Co-operation with Overseas Regulators Act 2012 (2012 Act) following discussions with credit union representative bodies. The 2012 Act was the first credit union specific legislation introduced in 15 years and was implemented in a coherent manner over three years to enable credit unions embed the...

Written Answers — Department of Finance: Bank Codes of Conduct (7 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 166 and 176 together. Deputies will be aware that there are substantial protections in place for customers in the event that a loan is sold from the original provider to a third party. The Consumer Protection (Regulation of Credit Servicing Firms) Act 2015 was enacted in July 2015 and is designed to protect borrowers in this situation....