Results 3,801-3,820 of 27,019 for speaker:Michael Noonan
- Written Answers — Tax Code: Tax Code (17 Nov 2011)
Michael Noonan: I assume the Deputy is referring to an increase in the percentage deemed distribution rate of 5% that currently applies to approved retirement funds (ARFs) to 7.5% where the value of the assets in the ARFs exceed â¬3 million. I am informed by the Revenue Commissioners that information provided to them in the context of the tax paid on these deemed or imputed distributions does not include...
- Written Answers — Tax Code: Tax Code (17 Nov 2011)
Michael Noonan: I propose to take Questions Nos. 67 to 71, inclusive, together. I am advised by the Revenue Commissioners that the full year yields arising from the increases requested, inclusive of VAT, are as set out in the following table. 2c 5c 10c 50c Petrol and Auto-diesel / litre â¬72.7m - - - Beer and cider / pint - â¬41.9m - - Spirits / half glass - â¬19.5m - - Wine / 75cl bottle - - -...
- Written Answers — Tax Code: Tax Code (17 Nov 2011)
Michael Noonan: I am advised by the Revenue Commissioners that figures are not captured in such a manner as to provide a dedicated basis for compiling an estimate of the impact on the Exchequer from the change mentioned in the question. Accordingly, the specific information requested by the Deputy is not available.
- Written Answers — Tax Code: Tax Code (17 Nov 2011)
Michael Noonan: I am informed by the Revenue Commissioners that, as information on the value of the gain arising from the disposal of a site to a child is not required in Capital Gains Tax returns, there is no dedicated basis for separately identifying the yield that would arise from a rate of 75% of the tax that would be charged if there were no relief on such disposals. However, on the basis of indicative...
- Written Answers — Tax Code: Tax Code (17 Nov 2011)
Michael Noonan: In the recent Jobs Initiative, I announced the abolition of the charge to employer PRSI on all share based remuneration that was introduced in Budget 2011. The employee PRSI charge and the universal social charge will continue to apply. At Budget time, it was estimated that the charge to employer PRSI would yield approximately â¬9.5 million in 2011 and â¬17.7 million in a full year. As the...
- Written Answers — Tax Code: Tax Code (17 Nov 2011)
Michael Noonan: I am advised by the Revenue Commissioners that the full year cost to the Exchequer from elimination of Stamp Duty on share transactions, by reference to the expected 2011 outturn, is estimated to be in the region of â¬181 million.
- Written Answers — Tax Code: Tax Code (17 Nov 2011)
Michael Noonan: In Budget 2011, a charge to PRSI and the universal social charge (USC) on share based remuneration was announced. In the recent Jobs Initiative, I announced the abolition of the charge to employer PRSI. The employee PRSI charge and the USC will continue to apply. At Budget time, it was estimated that the charge to employer and employee PRSI on save-as-you-earn schemes would yield...
- Order of Business (22 Nov 2011)
Michael Noonan: It is a made up story.
- Written Answers — Interest Rates: Interest Rates (22 Nov 2011)
Michael Noonan: As I said in a reply to a question from Deputy Troy on 16 November last, the decisions financial institutions operating in Ireland make on the interest rates they charge to customers are commercial decisions for the institutions concerned. Interest rates are determined by a broad range of factors including ECB base rates, deposit rates, market funding costs, the competitive environment, and...
- Written Answers — Disabled Drivers: Disabled Drivers (22 Nov 2011)
Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and Vehicle Registration Tax (up to a certain limit), and exemption from motor tax, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities. The disability criteria for these concessions are set out in the Disabled Drivers and Disabled...
- Written Answers — Information Technology: Information Technology (22 Nov 2011)
Michael Noonan: Nil response. No servers are leased by either the Department of Finance or the NTMA.
- Written Answers — Information Technology: Information Technology (22 Nov 2011)
Michael Noonan: Sixty seven servers are owned by the Department of Finance1. The "capacity" of each server ranges from 1Gb to 32Gb RAM; 32Gb to 8Tb Hard Disk Drive; and 1 to 2 CPUs. The Department maintains its own servers and does not currently hold any server maintenance or support contracts with external ICT contractors. The Department has realized significant cost savings in terms of hardware and...
- Written Answers — Tax Code: Tax Code (22 Nov 2011)
Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under the VAT Directive Member States may only apply the reduced VAT rate to those goods and services which are listed under Annex III of the VAT Directive. The sale of artisan musical instruments is considered the sale of a good for VAT purposes and not the service that...
- Written Answers — National Asset Management Agency: National Asset Management Agency (22 Nov 2011)
Michael Noonan: NAMA advises me that it does not employ or pay developers, whose loans have transferred to the agency, on a direct employee or on a contract basis. Each developer is responsible for ensuring that they are fully compliant as regards the payment of all taxes, PRSI or USC. NAMA only works with developers where it considers that this will provide the best return to the taxpayer. The agency...
- Written Answers — Interest Rates: Interest Rates (22 Nov 2011)
Michael Noonan: Credit institutions are not primarily or always funded from the ECB, but rather from a variety of sources. Neither the Central Bank nor I, as Minister for Finance, have any statutory role in the setting of interest rates charged or paid by financial institutions regulated by the Central Bank. Based on the advice received from the Central Bank, I have no plans to recommend to Government...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (22 Nov 2011)
Michael Noonan: I am advised by the Central Bank of Ireland (CBI), that they assisted the European Banking Authority (EBA) in carrying out a European-wide bank solvency stress test in July 2011. The test was applied to three Irish banks in accordance with a methodology that was pre-agreed with the EBA. As a result of the significant restructuring underway in the Irish banking system at the time, the...
- Written Answers — Disabled Drivers: Disabled Drivers (22 Nov 2011)
Michael Noonan: The initial application for a Primary Medical Certificate under the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994, is made to the Senior Medical Officer of the relevant local Health Service Executive administrative area. If the Primary Medical Certificate has been refused in this case, the named person may appeal the refusal to the Disabled Drivers Medical Board...
- Written Answers — Tobacco Smuggling: Tobacco Smuggling (22 Nov 2011)
Michael Noonan: The penalties for cigarette smuggling are laid down in section 119, as amended, of the Finance Act 2001. That provision sets out the various actions that constitute offences of evasion or attempted evasion of excise duty, as well as the penalties, by way of a fine or imprisonment, or both, that may be imposed for such offences. Where a conviction occurs following a summary prosecution, the...
- Written Answers — Tobacco Smuggling: Tobacco Smuggling (22 Nov 2011)
Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax, and for tackling the illicit trade in cigarettes and tobacco products, that the tackling of this illicit trade is a high priority area. The use of detection technologies, including x-ray container scanners and other scanning machines, is just one part of a multi-faceted strategy...
- Written Answers — Tax Code: Tax Code (22 Nov 2011)
Michael Noonan: As the Deputy will be aware, taxes are considered in the context of the Budget process. It is the usual practice for the Minister for Finance not to speculate in advance of a Budget on what it will contain; and I do not propose to deviate from that practice.