Results 2,621-2,640 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that figures are not captured in such a way as to provide a dedicated basis for compiling estimates of the impact on the Exchequer from the measure proposed in this question. Accordingly, the specific information requested by the Deputy is not available.

Written Answers — Pension Provisions: Pension Provisions (19 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 124 to 126, inclusive, together. There is no general requirement for data on the value of Irish pension funds to be returned to my Department or to the Revenue Commissioners. Neither is there a requirement for data on the value of the investments of such funds held outside the State to be returned to either of those bodies. I am not, therefore, in a position...

Written Answers — Pension Provisions: Pension Provisions (19 Jul 2011)

Michael Noonan: There is no general requirement for data on the value of Irish pension funds to be returned to my Department or to the Revenue Commissioners. I am not, therefore, in a position to provide the Deputy with the data in the manner requested.

Written Answers — Pension Provisions: Pension Provisions (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information available is in respect of income tax relief allowed for contributions to Retirement Annuity Contracts (RACs) and Personal Retirement Savings Accounts (PRSAs) for the income tax years 2002 to 2008. RACs and PRSAs are available to the self-employed and to employees not in occupational pension schemes. The information is...

Written Answers — Tax Yield: Tax Yield (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information for 2007, 2008 and 2009 is available from the Revenue Statistical Reports which are accessible on the Revenue website at www.Revenue.ie. The information is located in Table TR6, under the main chapter heading of Total Revenue. That table provides a percentage breakdown of the net receipt of PAYE, VAT, Income Tax,...

Written Answers — Tax Yield: Tax Yield (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the figures requested by the Deputy in respect of participating institutions under the Credit Institutions (Eligible Liabilities Scheme) 2009 (Bank Guarantee Scheme) are as set out in the following table: Corporation Tax payments and refunds Year Payments Refunds â'¬ million â'¬ million 2008 338 23...

Written Answers — Tax Yield: Tax Yield (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the information available on corporation tax receipts by county is by reference to the geographical indicator of "bailiwick". Revenue Sheriffs, County Registrars or their officers operate for the purposes of enforcement of tax debt within certain geographical boundaries known as a "bailiwick" which equates geographically with "county". Data on...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the numbers of companies claiming the research and development tax credit for the years 2007 to 2009 is derived from the corporation tax returns for those years. The breakdown by economic sector and on a county basis is set out separately in the following tables: Research & Development Tax Credit by Economic Sector Trade Sector 2007 2008...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that their obligation to observe confidentiality for taxpayers and small groups of taxpayers precludes them from providing the information requested. I would draw the Deputy's attention to paragraph (i) of Appendix 2 of the R&D tax credit guidelines that are accessible on the Revenue website outlining categories of activity that are not research and...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: Holding companies of domestic groups do not generally have profits chargeable to corporation tax and thus imposing a 1% levy would not provide a yield for the Exchequer. I am presuming, therefore, that the Deputy is referring to holding companies with foreign subsidiaries. It is not possible to predict the effect such a levy would have on the behaviour and decisions of holding companies...

Written Answers — Tax Yield: Tax Yield (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that data is not available in a sufficiently detailed manner to provide a precise breakdown of the yields from the two rates of VAT as requested by the Deputy. However, it is tentatively estimated based on provisional macroeconomic data that in 2010, the standard VAT rate (21%) yielded around €6.5bn while the 13.5% reduced VAT rate yielded around...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: VAT law in Ireland is applied in accordance with EU VAT law, under the EU VAT Directive. VAT is charged on the value added to the supply of goods and services by economic entities. The status of persons receiving those goods or services does not impact on whether or how VAT is charged on those items. In this circumstance, the VAT charged on a good supplied to a hospital will be based on...

Written Answers — Tax Yield: Tax Yield (19 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 139 to 142, inclusive, together. As those claiming reliefs in relation to tax incentive schemes were not required to provide details of the hotels for which they were claiming benefits in their tax returns there is unfortunately no basis on which the information requested by the Deputy can be gained from Revenue records. Such information could only be...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: The Department of Finance with the support of the Office of the Revenue Commissioners engaged in discussions with the Office of the Attorney General (AG) in relation to the many complex issues and attributes of the various "legacy" property-based tax schemes. The measures provided for in the Finance Act 2011 are in line with the advice received from the AG. We do not publish legal advice...

Written Answers — Tax Yield: Tax Yield (19 Jul 2011)

Michael Noonan: The following table sets out the details requested by the Deputy. All of the technical forecast figures in the table are taken from the Stability Programme Update (SPU) and will be subject to revision as the year progresses and more up-to-date economic and budgetary data becomes available and decisions with regard to the precise nature of the future budgetary consolidation to be implemented...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (19 Jul 2011)

Michael Noonan: I assume the Deputy is referring to a recent article in a Sunday newspaper. Payments of some €7 million have been approved as contractually due deferred bonus and retention overseas payments and payments to temporary contractors. The bank has undertaken that no further submissions to the Department of Finance will be made for payment of contractually deferred payments for 2012 and...

Written Answers — Fiscal Policy: Fiscal Policy (19 Jul 2011)

Michael Noonan: The EU-IMF Programme of Support for Ireland was agreed in late 2010 and runs to the end of 2013. There has not been an excess drawdown of funds under the Programme. The drawdown of funds to date under the Programme is in accordance with the disbursement schedule agreed by my Department and the NTMA with the European Commission and the IMF. Following the combined first and second review of...

Written Answers — Tax Yield: Tax Yield (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that, in general, the amount of VAT and other taxes collected from internet trading is not separately identifiable as businesses are obliged to calculate and return VAT and other taxes by reference to their entire taxable activities, which includes both traditional forms of business and internet sales. Internet business includes sales to private...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (19 Jul 2011)

Michael Noonan: I understand that the Deputy is referring to the repayments so far this year of unguaranteed unsecured senior bond holders in Anglo Irish Bank. I am advised by the bank that €1.06 billion of unsecured unguaranteed senior debt in Anglo Irish Bank has matured and been repaid so far this year. I have indicated to the House that, consistent with Government policy, I will raise the issue of...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (19 Jul 2011)

Michael Noonan: Though no capital injections have been made in respect of any of the covered institutions to date in 2011, it has already been announced as part of the PCAR 2011 results on 31 March that further recapitalisation measures will be required to enable the AIB/EBS, Bank of Ireland and IL&P to meet their regulatory capital requirements set by the Central Bank. The State has committed to completing...