Results 4,061-4,080 of 27,019 for speaker:Michael Noonan

Written Answers — Banking Sector Regulation: Banking Sector Regulation (13 Dec 2011)

Michael Noonan: I have not asked the PTSB board to review its mortgage interest rates. Neither the Central Bank nor I, as Minister for Finance, have a statutory role in the setting of interest rates charged or paid by financial institutions regulated by the Central Bank. Ultimately, the pricing of financial products, including variable mortgage interest rates, is a commercial decision for the respective...

Written Answers — Government Bonds: Government Bonds (13 Dec 2011)

Michael Noonan: Data supplied to my Department by the Central Bank of Ireland shows that the average maturity of Government bonds issued in 1984 was approximately seven and a half years.

Written Answers — Tax Code: Tax Code (13 Dec 2011)

Michael Noonan: The position is that cohabitating couples are expressly recognised for the purpose of social welfare law but are not recognised for the purposes of Income Tax law. Although this may appear contradictory, the main aim of both the welfare code and the tax code is to uphold the constitutional right of married couples not to be treated less favourably than unmarried couples. The basis for the...

Written Answers — Tax Code: Tax Code (13 Dec 2011)

Michael Noonan: The rate of VAT was increased in Budget 2012 by 2 percentage points from 21% to 23% as part of a general package of revenue raising measures to contribute to Exchequer funding. The position is that this Government has also fulfilled its commitment in the Programme for Government to maintain the current rates of income tax together with bands and credits and not to increase the top marginal...

Written Answers — Tax Code: Tax Code (13 Dec 2011)

Michael Noonan: I have been advised by the Revenue Commissioners that they have written to the person concerned for details necessary to issue the Balancing Statement (P21) for 2010.

Written Answers — Tax Yield: Tax Yield (13 Dec 2011)

Michael Noonan: I am informed by the Revenue Commissioners that there is no information available regarding on or off premises sales, as alcohol products tax receipts are not distinguished between alcohol subsequently sold in licensed pubs and sold in off-licences. With regard to the total value of licensed and off- licensed alcohol sales from 2007 to date in 2011, and data on the sale of wine and cider...

Written Answers — Tax Reliefs: Tax Reliefs (13 Dec 2011)

Michael Noonan: As I stated in my Budget speech, the Government has now fulfilled its commitment contained in the Programme for Government to increase the rate of mortgage interest relief to 30 per cent for first-time buyers who took out their first mortgage in that period. I will be looking at the technical detail of the legislation in preparation for the Finance Bill and I will take the highlighted case...

Written Answers — Pension Provisions: Pension Provisions (13 Dec 2011)

Michael Noonan: I understand that this question may relate to the flexible options on retirement first introduced in Finance Act 1999. Prior to that Act, any person taking a pension under a defined contribution (DC) scheme or a Retirement Annuity Contract was required to purchase an annuity with their remaining pension pot after drawing down the appropriate tax-free lump sum. Finance Act 1999 introduced...

Written Answers — Tax Reliefs: Tax Reliefs (13 Dec 2011)

Michael Noonan: The Capital Gains Tax (CGT) initiative I announced in the Budget is a relief from CGT on the disposal of certain property, where that property is bought during the "incentive period" from 7 December 2011 to 31 December 2013 and is held for seven years. The relief will apply to all property, whether residential or non-residential. The relief will not apply if a property is sold within...

Written Answers — Financial Services Regulation: Financial Services Regulation (13 Dec 2011)

Michael Noonan: I announced in my Budget speech that I intend to introduce a package of measures in the forthcoming Finance Bill to support the continued success of the International Financial Services (IFS) industry in Ireland. The sector employs more than 30,000 people and contributes over €1 billion in tax to the Exchequer. The Government's commitment to the sector was reaffirmed in the 5-year...

Written Answers — Tax Reliefs: Tax Reliefs (13 Dec 2011)

Michael Noonan: I am advised by the Revenue Commissioners that a claim for "Top Slicing Relief" for the person concerned has been processed and a cheque for the appropriate amount has been issued. A further claim made in July 2011 for relief on a lump sum received in 2006 has been disallowed. As this claim relates to the year 2006, it is outside the 4-year time limit for the making of claims for repayment...

Written Answers — Tax Reliefs: Tax Reliefs (13 Dec 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 — Property Management Fees: Property Management Fees (13 Dec 2011)

Michael Noonan: Where individuals have difficulties in meeting household debts, they may be able to avail of certain services provided by the Department of Social Protection or by organisations which operate broadly under its aegis. I understand from that Department, however, that there is no specific scheme to assist in the payment of residential management fees. My Department is not responsible for...

Written Answers — Credit Availability: Credit Availability (13 Dec 2011)

Michael Noonan: As the Deputy is aware the Central Bank gathers and collates statistics on a wide range of Financial Services Sector activities on an on-going basis. As a general rule, my Department does not engage in a separate exercise to collect such statistics, but has access to and relies on statistics provided and published by the Central Bank. For the Deputy's information, the relevant statistics...

Written Answers — Pension Provisions: Pension Provisions (14 Dec 2011)

Michael Noonan: Pension industry sources have indicated to my Department that contributions to pension savings arrangements, generally, have fallen since the beginning of 2010. The economic downturn will clearly have impacted on the confidence and ability of individuals to invest in pension savings. I cannot say whether and to what extent individuals would be influenced in this regard by the pension fund...

Written Answers — Tax Refunds: Tax Refunds (14 Dec 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned had three different employments in 2011. However, no P45 was submitted in connection with one of these. In the absence of form P45 tax credits cannot be updated. The person concerned has been contacted and advised to submit form P45.

Written Answers — Tax Refunds: Tax Refunds (14 Dec 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned applied for PAYE reviews on 3rd August 2011 for the years 2007, 2008 and 2009. This resulted in refunds for the three years, which were issued on the 8th August. If the person concerned considers that there are additional refunds due, the person should contact Revenue at 1890 444425.

Written Answers — Financial Services Regulation: Financial Services Regulation (14 Dec 2011)

Michael Noonan: My Department did not receive a report in 2009 regarding the firm mentioned by the Deputy and the Central Bank has confirmed that no such report was forwarded to the Department. I would like to advise the Deputy that, for confidentiality purposes, the Central Bank would not normally inform my Department about supervisory matters such as these which are within the sole remit of the Central...

Written Answers — Tax Code: Tax Code (14 Dec 2011)

Michael Noonan: The standard rate of VAT will be increased by 2 percentage points from 21% to 23% from 1 January 2011. This change is being introduced as part of a general package of revenue-raising measures to contribute to Exchequer funding and is in line with commitments made in the Programme for Government and in the EU/IMF Programme. The effect of the 2% increase in the standard rate is that the...

Written Answers — Departmental Expenditure: Departmental Expenditure (14 Dec 2011)

Michael Noonan: I propose to take Questions Nos. 70 and 72 together. My Department has had no expenditure on any public relations companies from 2006 to date. The table details spend on advertising in that same time period:- Year Advertising Expenditure 2011 (to date) 28,944 2010 40,231 2009 76,776 2008 140,567 2007 276,582 2006 364,388