Results 4,301-4,320 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (19 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 78 and 79 together. Ireland, as with other countries, has experienced an increase in the cost of petrol and auto-diesel. The increase in fuel prices is an international phenomenon. Fuel prices are driven by a number of factors including the price of oil on international markets, exchange rates, production costs and refining costs. The rise in oil prices over...

Written Answers — EU-IMF Programme: EU-IMF Programme (19 Jan 2012)

Michael Noonan: The Euro Area Heads of State or Government (HOSG) agreed on 21 July 2011 to reduce the cost of the European Financial Stability Facility (EFSF) to lending rates equivalent to those of the Balance of Payments facility close to, without going below, the EFSF funding cost. In addition, further amendments to the EFSF framework have removed the interest rate margin on EFSF funds and were...

Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (19 Jan 2012)

Michael Noonan: I have indicated to the Deputy, in response to his previous questions on the subject (refs. 27135/11 and 27578/11 of 4 October 2011) the review is presently being conducted by my Department. The respective covered institutions were contacted by the NTMA, on behalf of the Department, in late April 2011 to initiate the review. Detailed work on data collection with the covered institutions...

Written Answers — Disabled Drivers: Disabled Drivers (19 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No. 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (as amended) provide for permanent relief from the payment of specified maximum amounts of VAT and VRT for persons registered under the scheme. An application for exemption...

Written Answers — Departmental Staff: Departmental Staff (19 Jan 2012)

Michael Noonan: My Department currently has 4 civil servants working in the Permanent Representation of Ireland to the European Union in Brussels in the following positions: * Financial Counsellor * Financial Services Attaché * Fiscal Attaché * Budget Attaché

Written Answers — Tax Reliefs: Tax Reliefs (24 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the information provided in tax returns in relation to claims for tax relief in respect of investment in private nursing homes is not sufficiently detailed to provide a basis for deriving the number of private nursing homes that have qualified on a county by county basis. I am not therefore in a position to provide the information requested by...

Written Answers — Tax Code: Tax Code (24 Jan 2012)

Michael Noonan: The current rate of Stamp Duty on transfers of residential property is 1% on properties valued up to €1m and 2% on any balance over €1m. Given the low headline rate, I have no plans at present to provide a Stamp Duty exemption such as is suggested. The tax code contains a number of credits, allowances, reliefs and exemptions for people with disabilities. In addition, parents/guardians...

Written Answers — Tobacco Smuggling: Tobacco Smuggling (24 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 121 and 122 together. 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 strategy employed by Revenue to tackle this illicit trade is multi-faceted. It includes ongoing analysis of the nature and extent of the problem,...

Written Answers — Financial Services Regulation: Financial Services Regulation (24 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 123, 124 and 161 together. The decision to apply to the Court for the appointment of a special manager is a matter for the Governor of the Central Bank, following consultation with me as Minister of Finance. On 13 January 2012, the Central Bank of Ireland secured a High Court Order for the appointment of a Special Manager to Newbridge Credit Union. In...

Written Answers — Tax Collection: Tax Collection (24 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that, following receipt of information from the Department of Social Protection, they note that the person concerned is and has been in receipt of an Old Age Pension. The taxpayer will have additional income tax due for the current year in respect of his Old Age Pension. This additional tax, which is estimated to be some €7,713, will be deducted...

Written Answers — Tax Collection: Tax Collection (24 Jan 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that, based on the information available to them and the additional information now supplied by the Deputy, the person concerned is not currently liable for income tax. A revised tax credit certificate will issue shortly to the person and to the pension provider. This will allow for refund of the tax paid to the person concerned by the pension...

Written Answers — Ministerial Correspondence: Ministerial Correspondence (24 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 127 and 134 together. As the Deputies will be aware, the Minister for Finance and the Department of Finance received a number of letters from the ECB during November 2010. Some of these are already in the public domain, and details of those are set out below. A letter dated 2nd November 2010 concerned the extension of the Irish State guarantee of certain...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (24 Jan 2012)

Michael Noonan: As the Deputy is aware, Anglo Irish Bank Corporation Limited changed its name to Irish Bank Resolution Corporation Limited (trading as IBRC) on 14 October 2011. The Bank has informed me that a significant part of this renaming and rebranding project was managed using internal resources. The main components of the project included the development of a new brand identity for IBRC and the...

Written Answers — Tax Collection: Tax Collection (24 Jan 2012)

Michael Noonan: The persons concerned have PAYE income and income from self-employment. The self-employed individual re-registered for Income Tax with effect from 1st March 2011 and is jointly assessed for tax purposes with his spouse who pays PAYE. Self-employed taxpayers are obliged to file an annual income tax return (Form 11) with the Revenue Commissioners. Jointly assessed couples include both...

Written Answers — Tax Collection: Tax Collection (24 Jan 2012)

Michael Noonan: I am assured by the Revenue Commissioners that in appropriate circumstances they do approve phased payment arrangements in respect of tax debt. Revenue is charged with responsibility for the timely collection and recovery of taxes and duties due to the Exchequer. Revenue has a clear focus on every person and business complying with the responsibility to pay the right amount of tax and on...

Written Answers — Mortgage Arrears: Mortgage Arrears (24 Jan 2012)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (the Code) applies to mortgage lending activities with borrowers in respect of their principal private residence in the State. Compliance with the Code is mandatory on all mortgage lenders registered with the Central Bank. The Code provides a number of protections to borrowers. These include the establishment of a formal Mortgage Arrears...

Written Answers — Tax Code: Tax Code (24 Jan 2012)

Michael Noonan: As previously stated, the "Living Alone Allowance" payable under the Social Welfare Acts is not a separate pension but rather is an increased amount of certain pensions. That is, there is one rate of pension for a person not living alone and a different rate of pension for a person living alone. Therefore, the Widow's' Pension (Contributory) and the State Pension (Contributory) as increased...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (24 Jan 2012)

Michael Noonan: Detailed below is a breakdown of data for Irish resident private sector deposits held in the resident offices of credit institutions covered by the ELG scheme. The Central Bank has indicated that it is constrained due to legislation covering confidential statistical information from publishing further dis-aggregation by product category at this time. Total Private Sector Households...

Written Answers — Tax Code: Tax Code (24 Jan 2012)

Michael Noonan: The taxation of individuals in the State is broadly in line with that prevailing in most other OECD jurisdictions, that is to say — (a) Individuals who are resident in the State for tax purposes (based on the number of days of presence in the State) are taxable here on their worldwide income; and (b) Individuals who are not resident here for tax purposes pay tax here only on income arising...

Written Answers — Tax Yield: Tax Yield (24 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the yield from Tobacco Products Tax and estimated VAT on cigarettes for the years 2007 to 2011 is as follows: Tobacco Products Tax VAT (Estimated) €m €m 2007 1,155 327 2008 1,132 314 2009 1,155 335 2010 1,101 302 2011 (Prov) 1,060 300 It should be noted that the 2011 figure for Tobacco Products Tax is provisional at this time and is...