Results 5,721-5,740 of 27,019 for speaker:Michael Noonan

Written Answers — VAT Rates: VAT Rates (16 May 2012)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. In Ireland the zero rate applies to printed books, including atlases, children's picture, drawing and colouring books and books of music. Under the EU VAT Directive, all digitised publications, regardless of their rate when printed (for example, a book liable at zero rate),...

Written Answers — Credit Availability: Credit Availability (16 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. NAMA brought forward this scheme in response to my...

Written Answers — Tax Reliefs: Tax Reliefs (16 May 2012)

Michael Noonan: Section 848A of the Taxes Consolidation Act (TCA) 1997 provides for tax relief on donations to eligible charities and other approved bodies. The administration of the donations scheme is the responsibility of the Revenue Commissioners. I am advised by Revenue that all primary schools providing education, based on a programme prescribed or approved by the Minister for Education and Skills,...

Written Answers — Fiscal Policy: Fiscal Policy (16 May 2012)

Michael Noonan: Ireland's National Debt stood at €119.1 billion at end-December 2011. National Debt is the net debt incurred by the Exchequer after taking account of cash balances and other related assets. The debt correction requirement in the Inter-Governmental Treaty on Stability, Coordination and Governance in the Economic and Monetary Union relates to General Government Debt, not National Debt. ...

Written Answers — Disabled Drivers: Disabled Drivers (16 May 2012)

Michael Noonan: I am informed by the Revenue Commissioners that an application for relief under the Disabled Drivers and Disabled Passengers Scheme was received in the Central Repayments Office, Monaghan on 4th January 2012 from the person (details supplied). A Letter of Authorisation, which permitted the claimant to purchase a vehicle under the terms of the scheme, issued on the same date. A Vehicle...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (16 May 2012)

Michael Noonan: The table below the net investment after accounting for all fees paid in respect of the recaps, the Cash dividend income on Preference shares, and Cash received from sale of warrants. €bn AIB/EBS BoI* IL&P IBRC (Anglo/INBS) Total Government preference Shares (2009) - NPRF 3.47 3.47 - - 6.94 Government preference Shares Return (Coupon/Warrants) - -0.95 - - -0.95 Capital contributions...

Written Answers — Financial Services Regulation: Financial Services Regulation (16 May 2012)

Michael Noonan: Notwithstanding the State's significant shareholding in the bank, Permanent TSB ("PTSB") operates at arm's length from the State in relation to commercial issues. Ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of the bank, having due regard to their customers and the impact on...

Written Answers — Tax Code: Tax Code (16 May 2012)

Michael Noonan: The windfall tax rate of 80% applies to the portion of the profit or gain on a disposal of land which is attributable to a "relevant planning decision": that is, a rezoning, where both the rezoning and the disposal of land giving rise to the windfall happen after 30 October 2009; or a "material contravention" decision by a local authority, where both the decision and the disposal happen after...

Written Answers — Financial Services Regulation: Financial Services Regulation (16 May 2012)

Michael Noonan: I, as Minister for Finance, have no statutory function in relation to the issue raised by the Deputy. Debt collection services apply across a significantly wider range of activities than the recovery of money for financial products, for example for utilities, other consumer debts and also debts between businesses. The Minister for Justice and Equality is responsible for legislation - the...

Written Answers — Tax Code: Tax Code (16 May 2012)

Michael Noonan: The taxation of citizens of the United States of America is a matter for the Government of that country. I understand that the USA taxes its citizens regardless of where they live in the world and that this has been the case since 1913. Ireland imposes income tax on individuals resident in the State and on individuals who are not resident in the State but who have an Irish source of income....

Written Answers — National Asset Management Agency: National Asset Management Agency (17 May 2012)

Michael Noonan: Under Section 99 of the National Asset Management Agency Act 2009, NAMA and the NAMA group companies are bound by all of the obligations, including that of client confidentiality which relates to any asset acquired from a participating institution. Consequently it is not possible for NAMA to share that information with me or with the House.

Written Answers — European Investment Bank: European Investment Bank (17 May 2012)

Michael Noonan: According to the Annual Reports of the European Investment Bank (EIB), the Bank signed three finance contracts with Irish entities in 2008 with a total value of €450 million, six contracts in 2009 with a total value of €1.02 billion, two contracts in 2010 with a total value of €241 million, and three contracts in 2011 with a total value of €475 million.

Written Answers — National Asset Management Agency: National Asset Management Agency (17 May 2012)

Michael Noonan: The National Asset Management Agency has been generally positive in their comments on the subject of REITs and their potential to be used as a tool in achieving NAMA's goals. Although I considered a number of options before the Budget, including the introduction of a REIT structure, I decided to take a different approach to facilitating investment in the property market. I reduced the rate...

Written Answers — Departmental Staff: Departmental Staff (17 May 2012)

Michael Noonan: During 2012 and 2013, this Department will actively engage in a threefold action plan to meet its strategic objectives: · This will firstly involve training our existing teams so that they can develop greater technical, management and leadership skills necessary to the challenge. Using the performance management evaluation system, we will review our staff and identify any skills which...

Written Answers — EU Funding: EU Funding (17 May 2012)

Michael Noonan: I would point out that fiscal sustainability and measures to promote economic growth are not necessarily incompatible. In this context, the Taoiseach has consistently sought to have growth moved up the European agenda. My view is that measures to boost the economic growth rate can play an important role in addressing the current crisis in the EU. In fact, implementing policies to boost...

Written Answers — VAT Rates: VAT Rates (17 May 2012)

Michael Noonan: I am advised by the Revenue Commissioners that allowing a person to use a toll road or toll bridge is the provision of a service for VAT purposes that is liable at the standard rate, currently 23%. The application of VAT on such charges is governed by EU law with which Irish VAT law must comply. A European Court of Justice (ECJ) ruling on this issue in 2000 meant that Ireland was required to...

Written Answers — Government Bonds: Government Bonds (17 May 2012)

Michael Noonan: Together with the NTMA, my Department is open to proposals relating to the issuance of Government bonds that would allow Ireland to return to the international debt markets in a sustainable manner as soon as possible. Turning to the Deputy's question, I am informed by the NTMA that investors in Irish Government bonds legitimately expect that tax receipts form a substantial part of the...

Written Answers — Departmental Expenditure: Departmental Expenditure (17 May 2012)

Michael Noonan: In response to the Deputy's Question details of the occasions on which photographers were used since coming to office are contained in the following table: Use of Photographer Company used Details Cost € Maxwell Photography Ltd Brian Lenihan - photo required for Minster's Conference - Engaged on 30th March 2011 €424.41 Maxwell Photography Ltd Signing of Taxation agreement with...

Written Answers — IFSC Clearing House Group: IFSC Clearing House Group (17 May 2012)

Michael Noonan: The Strategy for the International Financial Services Industry in Ireland, which was launched by the Taoiseach in July of last year, identifies a competitive and internationally respected tax framework as one of the key foundations for success. The elimination of double taxation is central to the competitiveness of the sector and is the driver for a number of the measures in Finance Act...

Written Answers — Tax Code: Tax Code (22 May 2012)

Michael Noonan: The Seed Capital Scheme allows an individual, who makes a qualifying investment in a company, to set off the amount of that investment against his or her taxable income in any of the previous 6 years. The activities of the company are required to constitute a qualifying new venture. The individual is required to take up full-time employment with the company and to hold at least 15% of the...