Results 5,681-5,700 of 27,019 for speaker:Michael Noonan

Written Answers — Motor Fuels: Motor Fuels (10 May 2012)

Michael Noonan: The Deputy may be aware that a working group was set up between officials of my Department, the IRHA and some members of the Oireachtas. This working group is discussing a number of issues of concern to the haulage industry. I am sure the Deputy will understand that I cannot pre-empt the outcome of those discussions which are ongoing. I should point out that a fuel rebate system, as sought...

Written Answers — Tax Code: Tax Code (10 May 2012)

Michael Noonan: I am glad to note that the issue around entitlement of a "qualifying person" to relief from Motor Tax and the fuel rebate has been resolved. It is not clear from the details supplied what is being referred to in the statement "the inequities in the manner the Scheme is now applied". However, I understand the Association has been in touch with my Department directly, and the matters raised...

Written Answers — EU Directives: EU Directives (15 May 2012)

Michael Noonan: Directive 2003/96/EC of 27 October 2003 restructuring the Community Framework for the taxation of energy products and electricity (usually called the "Energy Tax Directive") came into force on 1 January 2004. When the Directive came into force, our national law was substantially in conformance with its immediately applicable requirements. Legislative action has been taken since then on a...

Written Answers — Illicit Trade in Tobacco: Illicit Trade in Tobacco (15 May 2012)

Michael Noonan: The penalties for the smuggling of tobacco products are laid down in section 119 of the Finance Act 2001, and those for the illegal sale of unstamped tobacco products are contained in section 78 of the Finance Act 2005. Where a conviction under section 119 of the 2001 Act occurs following a summary prosecution, the fine that may be imposed is €5,000. A Court may also impose a term of...

Written Answers — Tax Collection: Tax Collection (15 May 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that, following the receipt of information from the Department of Social Protection, the person concerned was issued with a letter regarding his DSP income on December 30 last. Based on the information now available to Revenue, his tax is correct for 2012. On the question of arrears, Revenue have advised me that they are examining those...

Written Answers — Motor Taxation: Motor Taxation (15 May 2012)

Michael Noonan: The Deputy may be aware that this proposal was contained in SIMI's submission to the Public Consultation on adjusting the current CO2 bands and rates in line with technological advances in motor vehicles. The Consultation process is still on-going.

Written Answers — Value Added Tax Rates: Value Added Tax Rates (15 May 2012)

Michael Noonan: The Finance (No. 2) Act 2011 provided for a second reduced VAT rate, of 9%, on a temporary basis in respect of certain tourism-related services and goods for the period 1 July 2011 to 31 December 2013. This measure is aimed at contributing towards boosting tourism and the creation of additional jobs in that sector. Initial analysis of the effectiveness of 9% VAT rate indicates that...

Written Answers — National Asset Management Agency: National Asset Management Agency (15 May 2012)

Michael Noonan: NAMA launched its 80:20 Deferred Payment Initiative on 8 May 2012. This initiative is being made available initially on a pilot basis in respect of 115 houses located in residential developments in counties Dublin, Meath and Cork. Further details on the Initiative including eligible properties are available on NAMA's website, www.nama.ie. I am informed by NAMA that the pilot scheme will...

Written Answers — Tax Collection: Tax Collection (15 May 2012)

Michael Noonan: It is important at the outset to recognise that businesses do fail, and that it is a normal part of business and entrepreneurship. That said, tax compliance is vital in delivering to the Exchequer the tax revenues properly due to the State in a cost effective and efficient fashion and in ensuring a level playing field for businesses generally. Maximising the levels of timely voluntary...

Written Answers — Illicit Trade in Tobacco: Illicit Trade in Tobacco (15 May 2012)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax, and for tackling the illicit trade in tobacco products, that they attach a high priority to combating tobacco smuggling and have adopted a comprehensive strategy, underpinned by annual action plans, for this important work. This 3-year (2011-2013) strategy, which is published on...

Written Answers — Income Taxation: Income Taxation (15 May 2012)

Michael Noonan: I am advised by the Revenue Commissioners that if the combined Budget estimate of €16.84 billion expected in 2012 from income tax, USC and employee's PRSI was to be raised by applying a single flat rate of tax on the basis outlined by the Deputy, the rate of tax required, based on projected 2012 incomes, would be 27%. This tentative estimate is based on the assumption that a full flat...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (15 May 2012)

Michael Noonan: I would like to inform the deputy that the information he is seeking is available on the Central Bank of Ireland website in the form of a publicly-available register. The relevant links are attached below for your convenience.http://registers.financialregulator.ie/FirmSearc hPage.aspx http://registers.financialregulator.ie/DownloadsPage.aspx

Written Answers — Mortgage Arrears: Mortgage Arrears (15 May 2012)

Michael Noonan: The Central Bank publishes statistics on principal private residential mortgage arrears, restructures and repossessions. The latest available data is for the period ended December 2011 and it indicates that 70,911 mortgage accounts are in arrears of over 90 days. This amounts to 9.2% of total residential mortgage accounts extended by regulated mortgage lenders. The data also indicated that...

Written Answers — Irish Bank Deposits: Irish Bank Deposits (15 May 2012)

Michael Noonan: The Central Bank of Ireland (CBI) publish a comprehsensive data set on a monthly basis in relation to deposits at Irish banks, both Covered and non Covered institutions. These data from part of the bank's Monthly Banking Statistics which are unconsolidated and reflect data on the assets and liabilities of within-the-State offices of credit institutions. There are three tiers of balance sheet...

Written Answers — Flood Relief: Flood Relief (15 May 2012)

Michael Noonan: I am advised by the Irish Insurance Federation that flood insurance cover is currently available to approximately 98% of householders in Ireland. Neither the Central Bank nor I, as Minister for Finance, can compel insurance companies to quote for business. The decision to provide any specific form of insurance cover, and the price at which it is offered, is a commercial matter based on the...

Written Answers — Tax Collection: Tax Collection (15 May 2012)

Michael Noonan: The position is that the figures in the table referred to by the Deputy were derived from EU-SILC data based on a survey carried out by Central Statistics Office (CSO). To obtain an update of the figures in the manner requested in the question, the Deputy should direct her question directly to the CSO. While the Revenue Commissioners do not maintain statistics on aged income earners in the...

Written Answers — Social and Affordable Housing: Social and Affordable Housing (15 May 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that form HPL1 was processed on 2 May 2012. The completed form has been returned to the person concerned.

Written Answers — Tax Reliefs: Tax Reliefs (15 May 2012)

Michael Noonan: Section 477A of the Taxes Consolidation Act 1997 was introduced in Finance Act 2011 and 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...

Written Answers — Fuel Rebate Scheme: Fuel Rebate Scheme (15 May 2012)

Michael Noonan: The Deputy may be aware that a working group was set up between officials of my Department, the IRHA and some members of the Oireachtas. This working group is discussing a number of issues of concern to the haulage industry. I am sure the Deputy will understand that I cannot pre-empt the outcome of those discussions which are ongoing. I should point out that a fuel rebate system, as sought...

Written Answers — European Stability Mechanism: European Stability Mechanism (15 May 2012)

Michael Noonan: The capital structure of the European Stability Mechanism (ESM) is set out in the ESM Treaty which was signed by Euro Area Member States on 2 February 2012. To obtain the highest possible credit rating, the capital structure of the ESM will have a total subscribed capital of €700bn. Of this amount, €80bn will be in the form of paid-in capital by the Euro Area Member States, paid in five...