Results 3,301-3,320 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (11 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 102 and 105 together. VAT is a tax on the value added to a supply and the collection and recovery of VAT takes place at each stage of the chain of supply from manufacturing to retailer. Under EU and domestic VAT rules traders who are registered for VAT collect VAT on the goods and services that they sell. In turn such traders are entitled to recover the VAT...

Written Answers — Tax Reliefs: Tax Reliefs (11 Oct 2011)

Michael Noonan: Section 13 of Finance Act 2011 provided for income tax relief at the standard rate for expenditure incurred by individuals on a range of works carried out to improve the energy efficiency of residential premises situated in the State. The underpinning legislation for the scheme was subject to Commencement Order. However, that legislation, on review, was found to have flaws and would have...

Written Answers — Tax Collection: Tax Collection (11 Oct 2011)

Michael Noonan: With regard to the breakdown of VAT returns, I am advised by the Revenue Commissioners that details of cumulative data rather than individual transactions are required to be entered on VAT returns. In the case of the VAT3 return, which is submitted bi-monthly, tri-annually or bi-annually depending on certain criteria, traders are required to enter the total VAT charged by them on...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (11 Oct 2011)

Michael Noonan: The European Commission has cleared under EU state aid rules a joint plan for Anglo Irish Bank (Anglo) and Irish Nationwide Building Society (INBS) whereby they will be merged and resolved over a period of 10 years. The final plan was lodged with the EU Commission on 31 January 2011 in line with the timelines agreed with the IMF, ECB and EU for approval under state aid rules. Anglo Irish...

Written Answers — Departmental Bodies: Departmental Bodies (11 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 107 and 108 together. The following table outlines the ECF for 2011 and 2012 for my Department and organisations under the aegis of my Department. DEPARTMENT/OFFICE 2011 ECF 2012 ECF FINANCE 282 280 COMPTROLLER & AUDITOR GENERAL 152 153 OFFICE OF THE APPEAL COMMISSIONER 4 4 REVENUE COMMISSIONERS 5,944 5,913 TOTAL 6,382 6,350 It is important in any...

Written Answers — Tax Collection: Tax Collection (11 Oct 2011)

Michael Noonan: This is a matter for the Revenue Commissioners. I am advised by Revenue that in July of this year following contact between them and the person concerned a satisfactory arrangement was concluded in regard to this matter and that this was communicated to the person concerned in writing by them, at the time.

Written Answers — Tax Collection: Tax Collection (11 Oct 2011)

Michael Noonan: I have been advised by the Revenue Commissioners that, based on the contract entered into by the person concerned, tax was due by 31 October 2004. This tax was paid on 29 October 2004. The person concerned subsequently withdrew from the contract. The Revenue Commissioners received confirmation of this on 24 June 2009. The liability was recalculated at that time, in accordance with tax...

Written Answers — Tax Collection: Tax Collection (11 Oct 2011)

Michael Noonan: This is matter for the Revenue Commissioners. I am advised by Revenue that at the time the debt in question was sent to the sheriff for collection, the person concerned had been given full credit for VAT repayments due to him up to that time. He had failed to engage with Revenue on the payment of the balance of the debt due and therefore the debt was correctly referred to the sheriff for...

Written Answers — Tax Code: Tax Code (11 Oct 2011)

Michael Noonan: Vehicle registration tax is charged on the Open Market Selling Price (OMSP) of a vehicle which for new vehicles is defined in Section 133 (2) of the Finance Act 1992 as (2) (a) For a new vehicle on sale in the State which is supplied by a manufacturer or sole wholesale distributor, such manufacturer or distributor shall declare to the Commissioners in the prescribed manner the price,...

Written Answers — National Asset Management Agency: National Asset Management Agency (11 Oct 2011)

Michael Noonan: NAMA has not reduced the principal on loans for borrowers. The Chairman of NAMA recently assured the Joint Committee on Finance, Public Expenditure and Reform that NAMA remains as focused as ever on pursuing each developer for the full amount owed. He also explained that NAMA's minimum target is to recover what it has paid for the loans, plus any other moneys advanced as working capital or...

Written Answers — Liquor Licences: Liquor Licences (11 Oct 2011)

Michael Noonan: I am informed by the Revenue Commissioners that they are responsible for the administration of the issue or renewal of public house licences. The numbers of licences issued for each of the calendar years 2007, 2008, 2009, 2010 and 2011 to date are set out. Please note that the licensing year runs from the 1st October to the 30th September. 2006 2007 2008 2009 2010 2011 to date No....

Written Answers — Tax Code: Tax Code (11 Oct 2011)

Michael Noonan: I am aware of the importance of the farming sector and of making the sector more productive. To that end, tax legislation already contains a number of reliefs and allowances which reduce the tax burden on transfers of land from one generation to another. Capital Acquisitions Tax (CAT) includes gift and inheritance tax. There are group tax free thresholds for CAT which are based on the...

Written Answers — Liquor Licences: Liquor Licences (11 Oct 2011)

Michael Noonan: The Deputy will be aware the rate of excise duty on off-licences was reviewed in the context of the 2008 and 2009 Budgets. The annual excise duty payable on each off-licence was increased from €250 to €500. An off-licence for a shop selling only wine costs €500. An off-licence selling the full range of alcohol products require three licences - spirits, beer and wine. Consequently,...

Written Answers — Tax Collection: Tax Collection (11 Oct 2011)

Michael Noonan: I am informed by the Revenue Commissioners that data on claims for tax relief for dental expenses are not captured in a such a way as to provide a dedicated basis for compiling estimates of cost to the Exchequer. Claims for this relief are aggregated in Revenue records with other health expenses claims. Accordingly, the specific information requested is not readily available and could not be...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (11 Oct 2011)

Michael Noonan: The information to answer Parliamentary Question No. 146 of 4 October 2011 was acquired directly from the covered institutions and reflected the up-to-date position at each of the covered institutions. However, if we include all mortgage providers then the Central Bank of Ireland is the only comprehensive source of information on residential mortgage arrears, repossessions and restructures...

Written Answers — Mortgage Arrears: Mortgage Arrears (11 Oct 2011)

Michael Noonan: The Central Bank has informed me that each quarter it publishes data from lenders on mortgage arrears greater than 90 days in relation to principal private residences. While details of loan accounts in arrears, including loans greater than 90 days in arrears and loans less than 90 days in arrears are reported to the Central Bank, it is data relating to arrears greater than 90 days that give a...

Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Order for Report Stage (12 Oct 2011)

Michael Noonan: I move: "That Report Stage be taken now."

Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Report and Final Stages (12 Oct 2011)

Michael Noonan: I move amendment No. 1: In page 18, line 28, to delete "and" and substitute the following: "(c) shall consult with the Credit Union Advisory Committee (within the meaning of section 180 of the Credit Union Act 1997) where the proposed regulations relate to credit unions, and". On Committee Stage I undertook to consider the provision of a consultative role for the Credit Union Advisory...

Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Report and Final Stages (12 Oct 2011)

Michael Noonan: I move amendment No. 2: In page 23, after line 46, to insert the following: 27.—(1) Unless the Bank provides prior written consent, a transferor shall not dispose of any asset or liability which is to be transferred under a transfer order, except in the ordinary course of its business, during the period beginning with the delivery of the written notice under section 26(1) or the date on...

Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Report and Final Stages (12 Oct 2011)

Michael Noonan: I move amendment No. 3: In page 28, to delete lines 25 to 27 and substitute the following: "(b) the value of the shares acquired by or disposed of by the member— (i) as at the date or dates on which the shares were acquired or disposed of, as the case may be, and (ii) as at the date on which the transfer order concerned was made.". The purpose of this amendment is to provide that in an...