Results 26,641-26,660 of 27,019 for speaker:Michael Noonan

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance (13 Apr 2017)

Michael Noonan: I thank the Deputy.

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance (13 Apr 2017)

Michael Noonan: Yes and those issues are being taken into account in the national spatial plan that is being developed. The main route to the Continent is not direct ferry services at present, even though there is significant container traffic out of Waterford Port and Rosslare, it is using the UK as the land bridge, as it is called whereby people drive across. I cannot see how that would not be maintained...

Committee on Budgetary Oversight: Stability Programme Update: Minister for Finance (13 Apr 2017)

Michael Noonan: I thank the staff of the committee. Thank you Chairman.

Written Answers — Department of Finance: Property Tax Data (2 May 2017)

Michael Noonan: I am advised by Revenue that the most recently available information relating to Local Property Tax (LPT) can be found on the statistics webpage of the Revenue website at . The information provided includes LPT collected by Local Authority for the years 2013 to 2016 and the first quarter of 2017.

Written Answers — Department of Finance: VAT Rate Reductions (2 May 2017)

Michael Noonan: While most Member states apply the standard rate to construction services – on average 21.5% - Ireland already applies a 13.5% reduced rate of VAT to all construction services under a derogation from the EU VAT Directive. Applying a lower VAT rate to the construction of new residential properties would result in different VAT rates between residential and non-residential...

Written Answers — Department of Finance: Brexit Issues (2 May 2017)

Michael Noonan: The European Banking Authority is an important part of the European System of Financial Supervision that arose after the financial crisis. It is key that the EBA can continue its critical work with minimal disruption following the decision of the United Kingdom to leave the European Union. The Government made a public declaration of interest in hosting the European Banking Authority in...

Written Answers — Department of Finance: Vehicle Registration Data (2 May 2017)

Michael Noonan: I propose to take Questions Nos. 218 and 219 together. I am informed by Revenue that the cost of the Vehicle Registration Tax (VRT) rebate for electric vehicles in 2016 was €3 million. Finance Act 2016 extended this relief to end 2021, at an estimated cost of €3 million per annum assuming no change in registration numbers. I am further informed by Revenue that the cost of the...

Written Answers — Department of Finance: Banking Sector Remuneration (2 May 2017)

Michael Noonan: As the Deputy will understand, third party supplier costs and professional service fees incurred by a bank are solely a matter for the management team of that institution, and the detail of specific supplier arrangements would be commercially sensitive information. This is notwithstanding the Relationship Framework Agreement in place between my office and each of the banks in which the State...

Written Answers — Department of Finance: Banking Sector Data (2 May 2017)

Michael Noonan: As the Deputy is aware, I have not announced any sale of the State’s shares in AIB. I have indicated that an IPO (Initial Public Offering) is the optimal route to recouping value from our investment and that the earliest possible IPO window for the bank is the second quarter of 2017, with the opportunity available over the course of May, June and into July. In December 2016,...

Written Answers — Department of Finance: National Debt (2 May 2017)

Michael Noonan: It is not possible to ascribe a current market value to the States shareholding in AIB at this juncture as AIB's share price is not a reliable indicator of the bank's underlying value given the very small free float available in the market. That said, at the end of 2016, the ISIF valued the State’s 99.9% shareholding in AIB at €11.3bn, as part of their Q4 update. It should...

Written Answers — Department of Finance: Banking Sector Remuneration (2 May 2017)

Michael Noonan: There are no bonus or incentive plans in place for AIB’s executives or staff linked to a potential IPO of AIB. As the Deputy will be aware, the previous Government placed restrictions on such types of remuneration in the Irish banks and these remain in place.

Written Answers — Department of Finance: VAT Rebates (2 May 2017)

Michael Noonan: I am advised by the Revenue Commissioners that the most recent VAT repayment claim made by the person concerned was selected for a routine compliance appraisal. The claim was processed within Revenue’s Customer Service standards and the VAT in question has been repaid.

Written Answers — Department of Finance: Foreign Direct Investment (2 May 2017)

Michael Noonan: On a visit to the United States last year I met the previous Secretary of the Treasury, Jack Lew, who informed me of the work that had been done at that stage on US tax reform. In February of this year, Steven Mnuchin was appointed as the new Secretary of the Treasury. On my most recent trip to Washington last month for the IMF/World Bank Spring Meetings I was able to listen to Secretary...

Written Answers — Department of Finance: Exports Data (2 May 2017)

Michael Noonan: I am aware that there is extensive commentary on the prospects of US tax reform taking place in the near future. Proposals for US tax reform are, at this stage, just proposals. Agreement between the U.S. House of Representatives, the U.S. Senate and President Trump is needed before any changes can be introduced. The exact implications for Ireland, and the rest of the world, will depend...

Written Answers — Department of Finance: VAT Exemptions (2 May 2017)

Michael Noonan: I propose to take Questions Nos. 227 and 228 together. The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the Directive, defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate of 23%. In general, the EU VAT Directive provides that all goods and services are liable to VAT at...

Written Answers — Department of Finance: Corporation Tax Regime (2 May 2017)

Michael Noonan: The Government’s plan to establish a rainy day fund may go some way towards the intent behind the Deputy’s question. As announced in the 2016 Summer Economic Statement, it is proposed to retain some of the unused fiscal space in 2019, following the achievement of the medium-term budgetary objective in 2018, as a contingency reserve. If it is not deployed in the event of...

Written Answers — Department of Finance: Revenue Commissioners Investigations (2 May 2017)

Michael Noonan: I am advised by Revenue that they have not hired any investigation firms in the past five years.

Written Answers — Department of Finance: Tobacco Control Measures (2 May 2017)

Michael Noonan: I propose to take Questions Nos. 231 and 232 together. I am aware of the proposal to introduce a levy on the tobacco industry which was included as a recommendation in the Department of Health's Tobacco Free Ireland. The proposal was included in my Department's Tax Strategy Group papers of 2015 which form a basis for the discussions of the Tax Strategy Group. As discussed in that paper,...

Written Answers — Department of Finance: Banking Sector Data (2 May 2017)

Michael Noonan: I propose to take Questions Nos. 233 and 238 together. As the Deputy will be aware, the payment of any dividend is exclusively a matter for the board and management of AIB based on the bank’s financial performance and future prospects, and subject to regulatory approval. AIB announced a proposed dividend payment of €250m to ordinary shareholders as part of their annual...

Written Answers — Department of Finance: Help-To-Buy Scheme Administration (2 May 2017)

Michael Noonan: I am advised by Revenue that a payment issued to the persons concerned under the Help to Buy incentive on 12 April 2017. Revenue has apologised to the persons concerned for the delay in processing the payment.