Results 25,801-25,820 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Corporation Tax (9 Feb 2017)

Michael Noonan: The review of the Irish corporation tax code is being undertaken by Mr Seamus Coffey.  I have not specifically asked Mr Coffey to evaluate the potential changes in tax rates in the UK and the US; however, these matters do form part of the context in which the review is being undertaken. The review is currently underway and I expect to receive...

Written Answers — Department of Finance: Property Tax Exemptions (9 Feb 2017)

Michael Noonan: As previously advised in my reply to Parliamentary Question 85 of 29 September 2016, the Finance Local Property Tax (LPT) Act 2012 does not provide entitlement to exemption from LPT on foot of pyritic damage where remediation was carried out prior to the commencement of the tax in 2013, as was the case with the property in question. However, on the basis of the revaluation now confirmed...

Written Answers — Department of Finance: Non-Principal Private Residence Charge Administration (14 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 130 and 156 together. I am advised by the Revenue Commissioners that the High Court decision concerning the deductibility against rental profits of the Non Principal Private residence charge (NPPR) has been appealed by them to the Court of Appeal. While that appeal is pending Revenue is not in a position to amend assessments or process repayment claims...

Written Answers — Department of Finance: Customs and Excise Protocols (14 Feb 2017)

Michael Noonan: The United Kingdom has not yet issued formal notification of its intention to leave the EU and it is clear that the discussions that will follow that notification will be complex.  The Government's position is very clear in that we want the closest possible trading relationship with the UK.  In that regard a key priority is to ensure the continued free flow of trade on the island...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (14 Feb 2017)

Michael Noonan: As the Deputy is aware, a Primary Medical Certificate is required to claim the tax reliefs provided under the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme.  The Senior Medical Officer for the relevant local Health Service Executive administrative area makes a professional clinical determination as to whether an individual applicant satisfies the medical criteria to...

Written Answers — Department of Finance: Property Tax (14 Feb 2017)

Michael Noonan: Revenue provides a wide range of payment and phased payment options that allow property owners to meet their Local Property Tax (LPT) obligations in a manner that best suits individual circumstances. One of the available phased payment options is Deduction at Source from ten separate payment schemes operated by the Department of Social Protection (DSP). The Deputy should note that...

Written Answers — Department of Finance: Tax Collection (14 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 134, 135 and 157 together. The Deputies will be aware that I made provision in the Finance Act 2016 for the exclusion by Ministerial Order of any specified agricultural sector where the business structures or models employed result in a systematic excess of flat-rate addition payments over input costs borne by flat-rate farmers within that sector. I...

Written Answers — Department of Finance: Mortgage Interest Rates (14 Feb 2017)

Michael Noonan: The issue of standard variable mortgage rates is a significant one for this Government and it has made it clear that it is not acceptable for lenders to charge excessive rates on such mortgages.  The Programme for a Partnership Government, therefore, set out a number of important and practical measures which can be taken to improve the position of variable rate...

Written Answers — Department of Finance: NAMA Debtors (14 Feb 2017)

Michael Noonan: My reply to Question No. 111 of 25 January 2017 stated that 505 debtor connections with a par debt of €27.3 billion had exited NAMA by end-2016. I am advised that NAMA wrote off a total of €956 million of par debt in respect of these 505 debtor connections, which is less than 4% of the original par debt of €27.248 billion acquired by NAMA relating to...

Written Answers — Department of Finance: Living City Initiative (14 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 138 and 139 together. Under the terms of the Living City Initiative, applications are only required to be made to the relevant local authority under the residential element of the scheme and this is not a requirement for the commercial element of the scheme. Additionally, the Revenue Commissioners do not compile statistics in relation to...

Written Answers — Department of Finance: Tax Code (14 Feb 2017)

Michael Noonan: I am advised that there are currently no tax incentives for landowners to lease land to sports clubs on a long term basis. There is a similar incentive, however, which provides tax relief for certain income from the long term leasing of agricultural land under Section 664 of the Taxes Consolidation Act 1997.  That tax relief has a very specific policy aim of...

Written Answers — Department of Finance: NAMA Portfolio (14 Feb 2017)

Michael Noonan: I am advised by NAMA that NAMA held security over a large number of units within the development to which the Deputy refers.  These units were under the management of a receiver appointed by the relevant Participating Institution prior to NAMA's acquisition of the related borrowings. I am further advised that the properties controlled were sold on...

Written Answers — Department of Finance: European Fund for Strategic Investments (14 Feb 2017)

Michael Noonan: I presume that the Deputy's reference to flexibility under the Stability and Growth Pact is to the "investment clause", which allows for a temporary deviation from the required structural budgetary adjustment for capital investment, co-funded by the EU, that increases the potential growth of the economy. Use of the clause is subject to strict...

Written Answers — Department of Finance: European Fund for Strategic Investments (14 Feb 2017)

Michael Noonan: Since the enactment of the European Fund for Strategic Investments (EFSI) Regulation in July 2015, it has been possible for any project promoter, either public or private, to engage with the EIB regarding the possibility of receiving support for their project in terms of loans or guarantees under EFSI. In general, Government Departments have existing relationships with the EIB so it has...

Written Answers — Department of Finance: Insurance Costs (14 Feb 2017)

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, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Cyber Security Policy (14 Feb 2017)

Michael Noonan: In response to the Deputy, I wish to advise that ICT services to the Department of Finance are provided by the Office of the Government Chief Information Officer (OGCIO) under the Department of Public Expenditure and Reform.  On behalf of my Department, the OGCIO implements a multi-layered approach to cyber security and to protecting ICT systems, infrastructures,...

Written Answers — Department of Finance: Insurance Costs (14 Feb 2017)

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, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Property Tax Administration (14 Feb 2017)

Michael Noonan: The Government decided that the LPT should be centred on the principles of equity, transparency and simplicity and that a universal liability should apply to all owners of residential property with a limited number of exemptions and reliefs.  Limiting the reliefs available allows the rate to be kept to a minimum for those liable persons who do not qualify for relief. Properties in...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (14 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 148 and 159 together. The Help To Buy (HTB) scheme is available nationally and individuals are required to complete a two-stage online process; an application and then a claim.  I am advised by Revenue that the number of Help To Buy applications received up to 10 February 2017 was: No. of Applications Successful applications *Pending 2586 620 1,966...

Written Answers — Department of Finance: VAT Exemptions (14 Feb 2017)

Michael Noonan: Schedule 1 of the Value-Added Tax Consolidation Act 2010 lists the activities that are exempt from VAT which includes the provision of services by a funeral undertaker but does not extend to the supply of graves. The supply of a grave in a graveyard that is more than 5 years old is also exempt from VAT, but the supply of a grave in a newly developed graveyard is liable to the reduced rate of...