Results 3,901-3,920 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (29 Nov 2011)

Michael Noonan: Any changes to the VAT code will be determined in the context of the upcoming Budget. You will appreciate that it is not normal practice to comment on Budget matters in advance.

Written Answers — Alcohol Pricing: Alcohol Pricing (29 Nov 2011)

Michael Noonan: I wish to inform the Deputy that introducing legislation to tackle below cost selling of alcohol is not a matter for the Department of Finance. I understand it to be the responsibility of my colleague, the Minister for Jobs, Enterprise and Innovation.

Written Answers — Tax Code: Tax Code (29 Nov 2011)

Michael Noonan: As the Deputy may be aware a publican who provides a bus exclusively for the purpose of taking patrons to and from the public house will be entitled to claim a deduction for the VAT on the cost of acquisition of the bus, but only if the bus has more than 16 seats. Section 60 of the Value-Added Tax Consolidation Act 2010 prohibits a deduction of tax to the extent that it relates to...

Written Answers — Tax Collection: Tax Collection (29 Nov 2011)

Michael Noonan: I have been informed by the Revenue Commissioners that the person in question is largely tax compliant. Tax Returns have been submitted up to and including 2010 and are therefore up to date. The person holds a valid Tax Clearance Certificate. The only matter outstanding is income tax due for 2009 and 2010 which is a very small amount. The Tax District has attempted to contact the person...

Written Answers — Tax Code: Tax Code (29 Nov 2011)

Michael Noonan: It is a long-standing practice of the Minister for Finance not to comment in advance of the Budget on any tax matters that might be the subject of Budget decisions.

Written Answers — Tax Code: Tax Code (29 Nov 2011)

Michael Noonan: 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 they incur on their business inputs used in the...

Written Answers — Tax Collection: Tax Collection (29 Nov 2011)

Michael Noonan: This is a matter for the Revenue Commissioners. I am advised by Revenue that there are two tranches of debt with the sheriff for collection in the particular case. One is comprised of income tax, including interest, based on returns and VAT, including interest, based primarily on estimates in the absence of returns being filed. VAT returns were subsequently filed with Revenue reducing the...

Written Answers — Tax Yield: Tax Yield (29 Nov 2011)

Michael Noonan: The estimated carry-forward from the Universal Social Charge (USC) is not included as part of the carry-forward for revenue measures for 2012 in the Medium-Term Fiscal Statement (MTFS) as that publication sought to present the numbers in a manner that was as consistent as possible with the presentation in the EU/IMF Programme as agreed last year. A footnote was included in the MTFS to the...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (29 Nov 2011)

Michael Noonan: I propose to take Questions Nos. 112 and 127 together. We are still awaiting confirmation of the position from a number of the covered institutions. I will write to the Deputies again when this information has been received.

Written Answers — Tax Collection: Tax Collection (29 Nov 2011)

Michael Noonan: A stamp duty levy of 0.6% applies to the market value, on the valuation date, of assets under management in pension funds and pension plans approved under Irish tax legislation. The pension arrangements affected include funded retirement benefit schemes (i.e. occupational pension schemes), retirement annuity contracts and personal retirement savings accounts (PRSAs – other than what are...

Written Answers — Estate Administration: Estate Administration (29 Nov 2011)

Michael Noonan: I informed the Deputy on 5 July 2011 that, following the issue of Letters of Administration, a claim had come forward on behalf of possible next of kin of the deceased as a result of advertisements placed in national newspapers. I understand from the Chief State Solicitor's Office that time was given to those making the claim of next of kin to provide evidence of the claim. Documentary...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Nov 2011)

Michael Noonan: The customer due diligence requirements set out in the Criminal Justice Act 1994 were repealed on the enactment of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (the 2010 Act). Section 33 of the 2010 Act requires designated persons (such as banks) to apply customer due diligence measures prior to establishing a business relationship with a customer e.g. opening a...

Written Answers — Tax Collection: Tax Collection (29 Nov 2011)

Michael Noonan: Airline companies are liable to air travel tax only in respect of passengers who depart on their flights from relevant Irish airports. If an airline company charges an intending passenger an amount corresponding to the air travel tax that would be payable by the company in respect of that passenger's departure and that person does not make the proposed journey, the question of a refund of...

Written Answers — Tax Reliefs: Tax Reliefs (29 Nov 2011)

Michael Noonan: Section 473A of the Taxes Consolidation Act 1997 provides for tax relief at the standard rate of income tax for qualifying fees paid by an individual in respect of a third level education course including a postgraduate course. Qualifying fees means tuition fees in respect of an approved course at an approved college and includes what is referred to as the "student contribution". For the...

Written Answers — Tax Yield: Tax Yield (29 Nov 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated full year costs to the Exchequer, estimated by reference to 2012 incomes, of increasing the existing exemption threshold of €4,004 per annum for the Universal Social Charge (USC) to the proposed thresholds, are set out in a table. Proposed USC (Yearly) Exemption Thresholds Cost €10,000 €45 million €11,000 €60 million...

Written Answers — Tax Yield: Tax Yield (29 Nov 2011)

Michael Noonan: I propose to take Questions Nos. 120 to 123, inclusive, together. The yield to the Exchequer in a full year where the VAT rates are increased by 1% and 2% are outlined in the following table: Rate 1% increase 2% increase 9% Reduced rate + €75m + €150m 13.5% Reduced rate + €160m + €320m 21% Standard rate + €335m + €670m If the current standard VAT rate of 21% was reduced by 1%...

Written Answers — Tax Collection: Tax Collection (29 Nov 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the refund in question was made to the individual by cheque issued on 23 March 2011 from the Bank of Ireland account of the Revenue Commissioners. The cheque transaction records indicate that the cheque was subsequently presented to a bank on Friday, 25 March 2011 and the payment was processed and lodged on Monday, 28 March 2011.

Written Answers — Financial Services Regulation: Financial Services Regulation (29 Nov 2011)

Michael Noonan: I have been advised by the Central Bank that their examination into the affairs of the company to which the Deputy refers has been completed. The Central Bank is of the view that the company was carrying out activities for which authorisation would have been required from the Central Bank. It would appear to the Central Bank that the company was carrying on a 'banking business' in the...

Written Answers — Tax Reliefs: Tax Reliefs (29 Nov 2011)

Michael Noonan: As the Deputy may be aware a publican who provides a bus exclusively for the purpose of taking patrons to and from the public house will be entitled to claim a deduction for the VAT on the cost of acquisition of the bus, but only if the bus has more than 16 seats. Section 60 of the Value-Added Tax Consolidation Act 2010 prohibits a deduction of tax to the extent that it relates to...

Written Answers — Departmental Staff: Departmental Staff (29 Nov 2011)

Michael Noonan: Please find detailed below the number of Whole Time Equivalents (WTEs) employed in my Department as requested: 31 December 2008 – 612.91 31 December 2009 – 560.78 31 December 2010 – 538.46 31 October 2011 – 275.02* * After the establishment of the Department of Public Expenditure and Reform