Results 4,361-4,380 of 27,019 for speaker:Michael Noonan

Written Answers — Banks Recapitalisation: Banks Recapitalisation (25 Jan 2012)

Michael Noonan: As the Deputy is aware Anglo and INBS have been merged to form the Irish bank Resolution Corporation. For completeness I have included the relevant figures for INBS. In 2009 the Government provided capital in the amount €4 billion to Anglo Irish Bank. The capital was provided in the cash paid directly from the Exchequer. Further, during 2009 it was determined that Anglo and INBS required...

Written Answers — Tax Code: Tax Code (25 Jan 2012)

Michael Noonan: The position is that with effect from 1 January 2012, the annual threshold for exemption from the Universal Social Charge (USC) has been increased from €4,004 to €10,036. An individual who will have income in the tax year 2012 that will not exceed this amount will not be chargeable to USC. However, where this threshold is exceeded, the entire amount is chargeable. Where an individual...

Written Answers — Tax Code: Tax Code (25 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 63 and 64 together. With effect from 1 January 2012, there is an exempt annual threshold of €10,036 for Universal Social Charge (USC) purposes. An individual who has income in a tax year that does not exceed this amount is not chargeable to USC. However, where this threshold is exceeded, the entire amount is chargeable. The standard rates of charge are:...

Written Answers — Tax Code: Tax Code (25 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that they are not in a position to provide a current list of statutory chargeable values and other related information due to the confidential and commercially sensitive nature of the information involved. Section 133 of the Finance Act 1992 provides the legislative basis for the requirement for manufacturers or distributors to provide a declaration...

Written Answers — Tax Code: Tax Code (25 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that when a vehicle is registered, the depreciation table used in the calculation of the vehicle registration tax charge is not recorded on the registration record for that particular vehicle. As the depreciation table assigned to each model and version of vehicle changes from time to time, it is not possible to generate the report requested.

Written Answers — Tax Code: Tax Code (25 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that statistics and details of VRT appeal cases for the period 1st January, 2003, to 23rd January, 2012, are set out in the attached spreadsheet. The 'Revised OMSP' values provided in the spreadsheet are specific to the vehicle in question in each case and take account of particular factors such as the condition of the vehicle. Such factors, which...

Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (25 Jan 2012)

Michael Noonan: I am informed by the National Treasury Management Agency, as Manager of the National Pensions Reserve Fund (NPRF), that the provisional total value of the Fund was €14.5 billion at 31 December 2011, comprising the Discretionary Portfolio of €5.4 billion and the Directed Portfolio currently held at €9.1 billion pending completion of an independent valuation review of the Fund's...

Written Answers — Budget Deficits: Budget Deficits (25 Jan 2012)

Michael Noonan: The Exchequer balance for each of the years 1995 – 2011 is set out in Table 1. The 1995-2009 figures are taken from the September 2011 Budgetary and Economic Statistics publication. The 2010 figure is from the 2010 Finance Accounts. The 2011 figure is taken from the end-December 2011 Exchequer Statement. As the figures show, in seven of the seventeen years covered, the Exchequer Account...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (25 Jan 2012)

Michael Noonan: The following table provides a breakdown of Irish resident private sector deposits held in the resident offices of credit institutions covered by the ELG scheme between January 2003 and November 2011. I have been advised by the Central Bank of Ireland that due to legislation covering confidential statistical information, the publishing of the requested level of dis-aggregation by product...

Leaders' Questions (26 Jan 2012)

Michael Noonan: There is no circus without a clown.

Written Answers — Tax Code: Tax Code (26 Jan 2012)

Michael Noonan: The position is that, in line with the commitment in the Programme for Government, there have been no changes in tax rates, no narrowing of tax bands and no reductions in personal tax credits in Budget 2012. I announced in Budget 2012 that the annual exemption level for the Universal Social Charge will be raised from €4,004 to €10,036 with effect from 1 January 2012. This measure...

Written Answers — Tax Collection: Tax Collection (26 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that, following receipt of updated information from the Department of Social Protection and also contact from the person in question that an amended certificate of tax credits issued to the taxpayer on the 13 January 2012. The tax due for 2012, which is estimated to be some €886, will be deducted from his occupational pension over the course of 2012.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (26 Jan 2012)

Michael Noonan: As I outlined previous in answers to Parliamentary Questions (22113/11 and 22117/11), the basis for stabilization of the Irish banking market is contained in my Statement on Banking of 31 March, 2011, where I set out Government policy in relation to the matters the Deputy has raised. A fundamental element of Government Strategy has been to restore a functioning banking system and the...

Written Answers — Tax Code: Tax Code (26 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that Section 88 of the VAT Consolidation Act 2010 provides for a scheme for travel agents known as the Travel Agents Margin Scheme (TAMS). The scheme deals with the activities carried on by travel agents who act in the capacity of a principal when supplying certain travel services such as transport, accommodation, etc, which they have bought in from...

Written Answers — Tax Code: Tax Code (26 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 58 and 59 together. The processing of applications for charitable tax exemption is a matter for the Revenue Commissioners. I am informed by Revenue that to avail of the exemption a body or trust must be established for charitable purposes only and must apply all its income for charitable purposes. Procedures are in place by Revenue towards ensuring that the...

Written Answers — Tax Code: Tax Code (26 Jan 2012)

Michael Noonan: The processing of applications for charitable tax exemption is a matter for the Revenue Commissioners. I am informed by Revenue that to avail of the exemption a body or trust must be established for charitable purposes only and must apply all its income for charitable purposes. Procedures are in place to ensure that the tax exemption is only granted to bodies that meet the necessary criteria...

Written Answers — Disabled Drivers: Disabled Drivers (26 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 — Tax Collection: Tax Collection (26 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the €45m referred to in the 2012 Summary of Budget Measures represents an estimate of increased yield resulting from improved exchanges of information between Revenue and other Governmental Bodies and includes the receipt of additional data on long-term pension payments made by the Department of Social Protection. These long-term pension...

Written Answers — Tax Reliefs: Tax Reliefs (26 Jan 2012)

Michael Noonan: The position is that the legislation setting out the detail of the proposed new 30% rate of mortgage interest relief announced in my Budget speech will be published in the forthcoming Finance Bill. However, the new rate of relief will be available only to individuals who took out their first mortgage in the period 2004 to 2008, and where such homes are the sole or main residence of the...

Written Answers — Tax Reliefs: Tax Reliefs (26 Jan 2012)

Michael Noonan: As the Deputy is aware the Programme for Government contained a very specific commitment to examine a proposal to increase mortgage interest relief to 30% for first time buyers who bought between 2004 and 2008. In Budget 2012, this commitment was fulfilled. It is not my intention to widen the parameters of the commitment contained in the Programme for Government.