Results 5,761-5,780 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: The annual turnover threshold for VAT registration depends on the nature of the business carried on. In general, there are two thresholds: the goods threshold, which is currently €75,000, and the services threshold, which is €37,500. Where 90 per cent or more of the turnover of a person or company consists of the supply of taxable goods, that person or company must register and account...

Written Answers — Public Service Staff: Public Service Staff (22 May 2012)

Michael Noonan: Information regarding the number of retired public servants who have been re-hired is detailed in the Appropriation Accounts. The Appropriation Accounts are available online at www.audgen.gov.ie. The 2011 Appropriation Accounts have not yet been finalised by the Office of the Comptroller and Auditor General. During the period January 2012 to date, no retired public servant has been...

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

Michael Noonan: Section 480A of the Taxes Consolidation Act 1997 provides for relief from income tax on retirement for certain income of certain sportspersons. The sportspersons who qualify are: athletes, badminton players, boxers, cricketers, cyclists, footballers, golfers, jockeys, motor racing drivers, rugby players, squash players, swimmers and tennis players. The earnings to which the relief applies...

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

Michael Noonan: The position is that changes included in Finance (No. 3) Act 2011 arising from the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 gave effect to specific provisions in relation to the taxation of civil partners under which they can elect to be jointly or separately assessed to tax or indeed to continue to be treated as single persons. It also allows for the...

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

Michael Noonan: The aim of the Department of Social Protection in means testing for job seeker's allowance individuals who are seeking employment is not the same as the Revenue Commissioners in administering tax credits which are available for offset against liability to income tax on earnings. The basis for the current tax treatment of married couples derives from the Supreme Court decision in Murphy vs....

Written Answers — Ministerial Staff: Ministerial Staff (22 May 2012)

Michael Noonan: In response to the Deputy's question costs for the new scheme introduced for the provision of drivers for Ministers in 2011 are a matter for each Department. In relation to the use of my car for Ministerial travel under the new scheme, the total cost has been €133,246 for the period May 2011- to date in May 2012. This cost included mileage (which is to cover car related expenses), the...

Written Answers — Departmental Staff: Departmental Staff (22 May 2012)

Michael Noonan: The Troika negotiations are undertaken by a team of officials, led by the Secretaries General of the Department of Finance and Public Expenditure and Reform and the Governor of the Central Bank of Ireland. The negotiators are supported by a Programme Compliance Office in the Department of Finance as well as officials in my Department, the Department of Public Expenditure and Reform, the...

Written Answers — Banking Sector Credit Provision: Banking Sector Credit Provision (22 May 2012)

Michael Noonan: I propose to take Questions Nos. 233 to 236, inclusive, together. As the Deputy is aware, the banking system restructuring plan creates capacity for the two Pillar Banks, Bank of Ireland and AIB, to provide lending in excess of €30 billion in the period 2011-2014. SME and new mortgage lending for these banks is expected to be in the range of €16-20bn over this period. This lending...

Written Answers — Illicit Trade in Tobacco: Illicit Trade in Tobacco (22 May 2012)

Michael Noonan: I wish to inform the Deputy that I receive representations on the illicit tobacco trade on an on-going basis. This Government together with the Revenue Commissioners, who are responsible for the collection of tobacco products tax, and for tackling the illicit trade in cigarettes and tobacco, regard the tackling of the illicit tobacco trade as a high priority area. The strategy employed by...

Written Answers — Financial Services Regulation: Financial Services Regulation (22 May 2012)

Michael Noonan: The Department of the Taoiseach, supported by the Department of Finance, has engaged with the international financial services industry in Ireland since the establishment of the IFSC in 1987 by providing a forum for the exchange of views and the co-ordination of effort through the mechanism of the IFSC Clearing House Group (CHG) and the related Working Groups. During this period, the IFSC has...

Written Answers — International Taxation Agreements: International Taxation Agreements (22 May 2012)

Michael Noonan: Ireland has currently 66 signed double tax treaties, of which 59 are in effect. The principal purposes of these treaties are, first, to avoid double taxation which would otherwise arise as a result of each of the signatory countries separately taxing the same income or gains without relief for the tax paid in the other country and, second, to assist in preventing tax evasion. In addition,...

Written Answers — International Taxation Agreements: International Taxation Agreements (22 May 2012)

Michael Noonan: I am advised by the Revenue Commissioners that taxpayer confidentiality considerations preclude the release of the names of companies or other persons availing of the provisions of any double taxation treaty.

Written Answers — International Taxation Agreements: International Taxation Agreements (22 May 2012)

Michael Noonan: One of the principal purposes of a double tax treaty is to prevent the taxation of the same income in both the countries concerned - typically, as in the case of Ireland's double tax treaties, by the elimination or reduction of withholding taxes. Tax havens are excluded from tax treaty networks.

Written Answers — Mortgage Interest Rates: Mortgage Interest Rates (22 May 2012)

Michael Noonan: It is not appropriate for me, as Minister for Finance, to comment on or become involved in the individual case of a borrower.

Written Answers — Fiscal Compact Treaty: Fiscal Compact Treaty (22 May 2012)

Michael Noonan: I propose to take Questions Nos. 243 and 244 together. As the Deputy will be aware, the original ESM Treaty signed on 11 July 2011 provided a predefined pricing structure for loans. Subsequently, the Euro Area Heads of State or Government (HOSG) agreed on 21 July 2011 in the context of the agreement on a new programme of support for Greece, to reduce the cost of the European Financial...

Written Answers — Departmental Consultancy Contracts: Departmental Consultancy Contracts (22 May 2012)

Michael Noonan: The following table details the expenditure by my Department on consultancies in 2008, 2009, 2010 and 2011. Every effort is made to minimize costs in this area but, from time to time, certain specialist skills and expertise are required. Our ongoing contract with Arthur Cox is necessary because the unfolding financial issues of relevance to the stabilization and regulation of the...

Written Answers — Mortgage Interest Relief: Mortgage Interest Relief (22 May 2012)

Michael Noonan: This is a matter for the Revenue Commissioners. On that basis I am advised by Revenue Commissioners that the person concerned is not currently receiving mortgage interest relief. If the person concerned has a secured loan, used to purchase, repair, develop or improve his principal private residence, then he may qualify for mortgage interest relief. The person must register for the relief...

Written Answers — Late Payment of Taxes: Late Payment of Taxes (22 May 2012)

Michael Noonan: The Finance Act 2009 provided for a reduction from 1 July 2009 of the rate of interest applied to late payment of tax. In the case of Income Tax, Corporation Tax, Capital Gains Tax, Capital Acquisition Tax, and Stamp Duty, the daily rate of interest was reduced from 0.0273% to 0.0219%, in effect an annual equivalent drop from 10 % to 8%. In the case of fiduciary taxes e.g. VAT, PAYE/PRSI and...

Written Answers — Departmental Consultancy Contracts: Departmental Consultancy Contracts (22 May 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the total amount of expenditure on consultancy in 2008, 2009, 2010 and 2011 and the details requested are set out in the following tables. In accordance with "Guidelines on the Engagement of Consultants and other External Support" issued by the Department of Finance, consultant support is procured only where it is necessary and value for money...

Written Answers — Credit Unions: Credit Unions (22 May 2012)

Michael Noonan: I propose to take Questions Nos. 249 and 254 together. I met with the Irish League of Credit Unions (ILCU) on 15 December 2011 and attended and spoke at the ILCU AGM on 28 April 2012. I also met recently with the Commission on Credit Unions, including its ILCU members, following completion of the Commission's Final Report. In addition, my officials meet with ILCU regularly across a range...