Results 25,881-25,900 of 27,019 for speaker:Michael Noonan

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: Yes, it is being explored.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: I thank the committee.

Written Answers — Department of Finance: Property Tax (16 Feb 2017)

Michael Noonan: Finance Act 2016 was enacted on 25 December 2016 as a result of it being signed by the President on that day.  This was the day on which many of the Act's provisions came into operation. Finance Act 2016 does not contain any such provisions referred to by the Deputy in relation to either capital gains tax or local property tax. However, section 52 of the Act, which made changes to a...

Written Answers — Department of Finance: Financial Services Regulation (16 Feb 2017)

Michael Noonan: As the Deputy will be aware, the Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 was enacted in July 2015. It was introduced to fill the consumer protection gap where loans were sold by the original lender to an unregulated firm. The Act introduced a regulatory regime for a new type of entity called a 'credit servicing firm'. Credit Servicing Firms are now subject to...

Written Answers — Department of Finance: Ministerial Meetings (16 Feb 2017)

Michael Noonan: I would remind the Deputy that I made him aware of this meeting in my response to his Parliamentary Question 293 of 14 July 2015, which is available on the Oireachtas website. The Deputy will also be aware that I provided records relating to these meetings directly to the Committee of Public Accounts in my correspondences of 3 November 2016 and 8 December 2016...

Written Answers — Department of Finance: Banking Operations (16 Feb 2017)

Michael Noonan: As the Deputy will be aware, the Single Supervisory Mechanism (SSM) is now responsible for the prudential supervision framework for Euro area banks. Each Irish bank has a Joint Supervisory Team made up of representatives of both the Central Bank of Ireland and the SSM. I cannot comment on regulatory discussions between banks and the SSM but if any institution was proposing to...

Written Answers — Department of Finance: Financial Services Regulation (16 Feb 2017)

Michael Noonan: As Minister for Finance, I have responsibility for the development of the legal framework governing financial regulation in Ireland, including the regulatory environment for life and non-life insurance. I have no role in day to day supervision of the insurance industry, as this is the responsibility of the Central Bank of Ireland.  The Central Bank of Ireland has two specific mandates...

Written Answers — Department of Finance: Tax Reliefs Application (16 Feb 2017)

Michael Noonan: I am advised by Revenue 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 based on the High Court judgement. Revenue advises that there is a general...

Written Answers — Department of Finance: Water Charges (16 Feb 2017)

Michael Noonan: As the Deputy is aware, responsibility for Irish Water rests with my colleague the Minister for Housing, Planning, Community and Local Government, Mr. Simon Coveney TD.  His Department has informed my Department that the revenue loss in 2018 of a continued suspension of domestic water charges is estimated to be in the region of €217 million in cash terms.  This...

Written Answers — Department of Finance: Tax Exemptions (16 Feb 2017)

Michael Noonan: The artists' exemption provides for an exemption from Income Tax on the first €50,000 (increased from €40,000 in Budget 2015) of earnings in relation to certain categories of works, namely: 1. a book or other writing; 2. a play; 3. a musical composition; 4. a painting or other picture; or 5. a sculpture. The exemption does not extend to income arising from:  1....

Written Answers — Department of Finance: Tax Code (16 Feb 2017)

Michael Noonan: I am advised by Revenue that income tax issues relating to foreign assignees working here temporarily are set out in the Revenue's Statement of Practice IT-3-07. The Statement of Practice was updated as a matter of routine in December 2016. In accordance with the terms of the OECD Model Convention on Income and on Capital, it re-affirmed the longstanding position in respect of the taxation...

Written Answers — Department of Finance: Tax Credits (16 Feb 2017)

Michael Noonan: I am advised by Revenue that a Post-Budget 2017 Ready Reckoner is available on the Revenue Statistics webpage at . In relation to the Deputy's question, this Ready Reckoner shows a wide range of detailed information, including, on Page 6, the estimated first and full year costs to the Exchequer of changes to the earned income tax credit. While the figures do not match exactly those...

Written Answers — Department of Finance: Departmental Legal Costs (16 Feb 2017)

Michael Noonan: The amount spent during 2016 by my Department and by named public bodies under my Department's remit on legal services is set out in the attached document. In the time available, it was not possible to provide these details for all bodies under the aegis of my Department and the outstanding detail will be provided shortly in line with Standing Orders. My...

Written Answers — Department of Finance: Disabled Drivers Grant (21 Feb 2017)

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. The Scheme represents a significant tax expenditure. Between the Vehicle...

Written Answers — Department of Finance: Help-To-Buy Scheme (21 Feb 2017)

Michael Noonan: The Government is conscious that there is currently a shortage of housing and of the particular challenges faced by first-time buyers in obtaining the deposit required to purchase a home, given the Central Bank's macro prudential rules. As the Deputy will be aware, the 'Help to Buy' initiative was initially announced on 19 July 2016 as part of 'Rebuilding Ireland: Action Plan for Housing and...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (21 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 120 to 123, 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 to the...

Written Answers — Department of Finance: Tax Reliefs Data (21 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 124 and 125 together. I am advised by Revenue that a post-Budget 2017 Ready Reckoner is available on the Revenue Statistics webpage at the link: . In relation to the Deputy's Questions, page 11 of this Ready Reckoner shows the estimated cost or yield from changing the ceiling on the annual earnings limit for determining maximum allowable contributions for...

Written Answers — Department of Finance: NAMA Operations (21 Feb 2017)

Michael Noonan: I would like to refer the Deputy to Parliamentary Questions Nos. 122 and 123 of 24 May 2016 which also address these questions. Currently NAMA expects to redeem 100% of its guaranteed senior debt by the end of 2017 and expects to redeem its subordinated debt in March 2020. NAMA will focus on completing its ongoing deleveraging, its Dublin Docklands SDZ and residential...

Written Answers — Department of Finance: State Banking Sector (21 Feb 2017)

Michael Noonan: In the first instance it is important to note that these type of transactions, i.e. the sale of shares in our banking investments, do not result in a beneficial impact to the General Government Balance (GGB) under ESA 2010 rules. This is due to the fact that they are classified as a 'financial transaction' or essentially the exchange of one form of asset (shares, equities, loans) for another...

Written Answers — Department of Finance: Betting Licences Data (21 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 128, 140 and 141 together. On course bookmakers are exempt from betting duty on bets accepted during and at a race meeting under section 68(1)(a) of the Finance Act 2002. Accordingly, there were no receipts from this sector. However, this exemption does not apply to bets entered into by any means of telecommunications, such as by telephone or online. Annual...