Results 5,201-5,220 of 27,019 for speaker:Michael Noonan

Written Answers — Banks Recapitalisation: Banks Recapitalisation (28 Mar 2012)

Michael Noonan: I am conscious of the difficult situation that the residents of Priory Hall find themselves in. The lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. A mortgage agreement is a contract which cannot be altered without the consent of the parties. I, as Minister for Finance, have no powers in this regard and...

Written Answers — Tax Code: Tax Code (28 Mar 2012)

Michael Noonan: I assume that the Deputy's question relates to the double deduction for carbon tax on farm diesel which I introduced in Finance Bill 2012. Under this provision, farmers will be allowed a deduction in computing their farming profits or losses for the amount of additional carbon tax they incur on purchases of farm diesel following the proposed increase in the rate of carbon tax on certain fuels...

Written Answers — Tax Code: Tax Code (28 Mar 2012)

Michael Noonan: In matters relating to the VAT rating of goods and services, I am constrained by the requirements of EU VAT law with which Irish VAT law must comply. Under the EU VAT Directive, it is not possible to apply a reduced or zero rate to the supply of motor fuel. Therefore the rate of VAT that must apply to the supply of fuel is the standard VAT rate, which in Ireland is 23%.

Written Answers — Tax Code: Tax Code (28 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the breakdown of Mineral Oil Tax, Carbon Tax and VAT on a litre of motor fuel at average prices is as follows: Petrol Diesel € € Mineral Oil Tax 0.542 0.426 Carbon Tax 0.046 0.053 VAT 0.312 0.299 Total Tax 0.90 0.778 The Mineral Oil Tax and Carbon Tax amounts were calculated using an average price of 166.9 cent per litre for...

Written Answers — Departmental Expenditure: Departmental Expenditure (28 Mar 2012)

Michael Noonan: This information is not held centrally and accordingly I can only answer in respect of my Department and the Offices/Agencies under the aegis of my Department. The question has been copied to all other Departments who will provide the information under separate cover. The Department of Justice (including the Courts Service) and the Department of Social Protection have indicated that no...

Written Answers — Economic Statistics: Economic Statistics (28 Mar 2012)

Michael Noonan: In early January, my Department reported on the cash Exchequer deficit for 2011 and this was slightly better than anticipated at Budget time last December. Currently, my Department in conjunction with the CSO is updating the 2011 budgetary outturn in the context of the excessive deficit notification, which all EU27 Member States participate in. In this context, the outturn for the general...

Written Answers — Economic Statistics: Economic Statistics (28 Mar 2012)

Michael Noonan: In relation to economic growth, GDP developments are the internationally accepted metric. Last December, on the basis of existing published CSO data for the first half of last year, my Department projected that the economy would expand by 1 per cent for last year as a whole. This figure was in line with the prevailing consensus at the time. Preliminary data from Central Statistics Office...

Written Answers — Financial Services Regulation: Financial Services Regulation (28 Mar 2012)

Michael Noonan: Under the Investment Intermediaries Act 1995, all investment firms must have their accounts audited. It is also a requirement that their auditors submit a Statutory Duty Confirmation. At least six weeks before the firm's return is due, the Central Bank sends an email to the firm requesting the auditor's details and the firm must provide these details. While there are sound reasons for this...

Written Answers — Departmental Expenditure: Departmental Expenditure (28 Mar 2012)

Michael Noonan: I propose to take Questions Nos. 103 to 105, inclusive, together. My Department has not made any payments to external property consultants, surveyors or estate agents during the last three years.

Written Answers — Departmental Properties: Departmental Properties (28 Mar 2012)

Michael Noonan: In response to the Deputy's question the Office of Public Works is involved in most purchases and leasing of buildings by the State including buildings leased by my Department. In respect of bodies under the aegis of my Department I am not aware of any such leases being entered into where the body concerned is the landlord.

Banking Sector Regulation: Announcement by Minister for Finance (29 Mar 2012)

Michael Noonan: I wish to make an announcement to the House. The Government has been committed to reviewing the arrangements that were put in place to capitalise the Irish Bank Resolution Corporation, formerly Anglo Irish Bank and Irish Nationwide. The purpose of this review is to determine if there is a way to reduce the overall cost to the State. Part of the capitalisation of the Irish Bank Resolution...

Written Answers — Strategic Investment Fund: Strategic Investment Fund (29 Mar 2012)

Michael Noonan: The establishment of the Strategic Investment Fund (SIF) was announced by the Government in September 2011. The SIF will channel commercial investment from the National Pensions Reserve Fund (NPRF) towards productive investment in the Irish economy. As well as money from the NPRF, the SIF will seek matching commercial investment from private investors and target investment in areas of...

Written Answers — Tax Code: Tax Code (29 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that a tax clearance certificate will normally be issued to a person if he/she has made all of the required tax returns to Revenue and has paid all tax known to be due or agreed a payment schedule in respect of such tax debts. If and when a further tax liability is identified or arises, there is no provision to exempt taxpayers from such liabilities...

Written Answers — Ministerial Travel: Ministerial Travel (29 Mar 2012)

Michael Noonan: The only cost incurred by my Department in respect of the visit to Paris was the cost of the flights for myself and the official who accompanied me, which amounted to €978 including taxes and charges. In order to reduce the costs of the visit the official and I stayed in the Ambassador's residence in Paris. The costs arising in Paris in relation to the trip were met from the existing...

Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (29 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that there has been ongoing correspondence with the tax agent representing the person concerned about this matter. The position is that credit for foreign tax paid is granted at the end of the relevant tax year, following receipt of the appropriate documentation from the foreign tax authority. However, as the person in question is suffering...

Written Answers — Tax Yield: Tax Yield (29 Mar 2012)

Michael Noonan: The position is that both income tax and Universal Social Charge (USC) are chargeable where a permanently incapacitated minor child is in receipt of income by virtue of a deed of covenant from a person who is not his or her parent. The income is chargeable to tax and USC in the hands of the recipient. I am informed by the Revenue Commissioners that information on the yield of USC from the...

Written Answers — Sectoral Incomes: Sectoral Incomes (29 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information available on the amount of gross income earned by the restaurant sector is based on personal income tax returns filed by non-PAYE taxpayers and information on profits derived from corporation tax returns for the years 2008 and 2009. The tax year 2009 is the latest year for which the necessary detailed information is...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Mar 2012)

Michael Noonan: Notwithstanding the State's shareholding in the bank, Bank of Ireland operates in an arm's length capacity from the State in relation to commercial issues. It is a matter for the board and management to determine and implement operational policy in their organisation. Therefore, commercial decisions in relation to Bank of Ireland are solely a decision for the bank.

Written Answers — State Banking Sector: State Banking Sector (29 Mar 2012)

Michael Noonan: The Bank has informed me that AIB is relocating operations from across Dublin to its Bankcentre in Ballsbridge in order to reduce costs. In anticipation of becoming a smaller organisation, in August 2011 AIB commenced a programme to withdraw from five leased locations and is currently adapting its Bankcentre in Ballsbridge to cater for the centralised functions. The bank has adopted a...

Written Answers — Tax Clearance Certificate: Tax Clearance Certificate (29 Mar 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that based on the details supplied the person is not liable to tax on her pensions. An amended tax credit certificate will issue to the person concerned and to their spouse's former employer over the next few days. All tax paid to date in 2012 will be refunded on the next pay date after receipt of the revised certificate.