Results 6,381-6,400 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Reliefs: Tax Reliefs (12 Jul 2012)

Michael Noonan: I assume the Deputy is referring to individual pension contributions, the tax relief on which is allowed at the taxpayer's marginal tax rate — the standard or higher rate of income tax as appropriate in each case. A breakdown of the cost of tax relief on employee contributions to occupational pension schemes is not available by income tax rate, as tax returns by employers to the Revenue...

Written Answers — Post Office Network: Post Office Network (12 Jul 2012)

Michael Noonan: I have no role in relation to An Post. The Government's core policy goal for the postal sector is to ensure that Irish customers, both business and residential, enjoy competitively priced, high quality postal services. The Government is committed to a strong and viable An Post and supports its maintenance of the maximum number of economically viable post offices. While I do appreciate the...

Written Answers — Promissory Notes: Promissory Notes (12 Jul 2012)

Michael Noonan: A series of promissory notes were issued to Anglo Irish Bank and the Irish Nationwide Building Society in 2010 (prior to both of these bodies being amalgamated to form the Irish Banking Resolution Corporation (IBRC)) totalling €30.6 billion. A further €250 million promissory note was issued to the Educational Building Society. When taken together, the outstanding amount on these...

Written Answers — National Asset Management Agency: National Asset Management Agency (12 Jul 2012)

Michael Noonan: As the Deputy is aware, for a debtor to avail of bankruptcy in any given jurisdiction he/she must first of all establish that jurisdiction as his/her centre of main interest (COMI). The establishment of COMI is a matter for the relevant authorities in the jurisdiction in which bankruptcy is sought. I am advised by NAMA that as a secured creditor, its debt recovery position has not been...

Written Answers — Tax Code: Tax Code (12 Jul 2012)

Michael Noonan: The position is that exemptions from income tax are available to individuals aged 65 and over during a year of assessment in accordance with the provisions of section 188 of the Taxes Consolidated Act 1997. For the years of assessment 2012, in order to qualify for the exemption an individual's income must be less than €18,000 in the case of a single individual or €36,000 in the case of...

Written Answers — Tax Collection: Tax Collection (12 Jul 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the medical expenses claim that was made by the person concerned for 2011 has been reviewed. As the person concerned did not pay any tax for 2011, no refund is due in respect of this medical expenses claim.

Written Answers — Tax Collection: Tax Collection (12 Jul 2012)

Michael Noonan: As previously indicated to the Deputy, in response to question 25411/12 on 23 May last, the Government does not propose at this time to introduce a wealth tax, although all taxes and potential taxation options are constantly reviewed. The data to be collected by the CSO as part of its Household Finance and Consumption Survey is not being collected for the purposes of calculating the...

Written Answers — Tax Collection: Tax Collection (12 Jul 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that the person concerned has an outstanding liability of € 278.30 in respect of 2009. A demand notice issued for this amount on the 17th February 2012. The person concerned has not yet submitted a Return of Income for 2010, which was due last October. A reminder issued on the 10th February 2012, and the Deputy may wish to advise the...

Written Answers — Flood Relief: Flood Relief (12 Jul 2012)

Michael Noonan: As Minister for Finance I do not have a role in this matter. However, I am in discussions with my Ministerial colleagues with a view to determining what reliefs could be made available. At present, assisting households in the immediate aftermath of flooding is a matter for my colleague the Minister for Social Protection. The Department of Social Protection has two schemes in place that,...

Written Answers — Tax Code: Tax Code (12 Jul 2012)

Michael Noonan: The position is that in accordance with the provisions of section 1020 of the Taxes Consolidation Act 1997 two individuals continue to be taxed as single persons in their year of marriage. However, if the tax payable as two single persons in that year is greater than the tax which would be payable if the couple had been taxed jointly as a married couple for the year, a refund of the...

Written Answers — Tax Code: Tax Code (12 Jul 2012)

Michael Noonan: I am advised by the Revenue Commissioners that Vehicle Registration Tax (VRT) is charged on the first registration of a vehicle in the State. Vehicles may be brought into the State and held unregistered, without payment of VRT, as long as they are stored on premises and by persons authorised by the Revenue Commissioners to do so. Vehicle registration taxation systems are compatible with EU...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (12 Jul 2012)

Michael Noonan: As the Deputy will be aware, the Euro Area Summit Statement of 29th June affirmed that it is imperative that the vicious circle between banks and sovereigns be broken. The Statement of 29th June also stated that it has been agreed that when an effective single supervisory mechanism is established, involving the ECB, for banks in the euro area, the European Stability Mechanism (ESM) could...

Written Answers — Banking Operations: Banking Operations (12 Jul 2012)

Michael Noonan: As stated in my reply to the question (ref no. 33569/12) put down by the Deputy on 10 July, a number of international investigations are ongoing, including one by the European Commission, and the British Bankers Association is currently undertaking a review of the way Libor is set and is expected to publish its findings shortly. Euribor-European Banking Federation is the body responsible for...

Written Answers — Bond Markets: Bond Markets (12 Jul 2012)

Michael Noonan: I am advised by the National Treasury Management Agency (NTMA) that they have decided in principle to issue an inflation-linked bond when market conditions permit and that they are currently working on the technical aspects of such an issue. An announcement on the detailed plans for the issue will be made in due course.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (12 Jul 2012)

Michael Noonan: I have been informed by the Central Bank that it has not received any formal application to change the regulatory or legal status of Ulster Bank Ireland Ltd from that of a subsidiary of Royal Bank of Scotland Group. However, there are some informal indications that Ulster Bank Ireland Ltd may change its regulatory status and be subject to regulation by the Bank of England and the UK Financial...

Written Answers — Bank Charges: Bank Charges (12 Jul 2012)

Michael Noonan: I do not intend to meet the banks to discuss their plans in relation to the recent interest rate reduction. The lending institutions in Ireland are independent commercial entities. Ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of each lending institution, having due regard to their...

Written Answers — Revenue Commissioners Investigations: Revenue Commissioners Investigations (12 Jul 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the following tables represent the amounts of cash seized by Revenue at Dublin Airport and Port, and the amounts of cash that have been forfeited to the Exchequer under criminal justice legislation. There can often be a significant gap between the date of seizure and the date of forfeiture as detailed investigations are required. Some...

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

Michael Noonan: I propose to take Questions Nos. 80 to 83, inclusive, together. NAMA advises that it does not own or operate hotels. NAMA's role in relation to the properties securing its loans is that of a secured lender. Other than properties that have been enforced, all of which are listed on NAMA's website and which are managed by the appointed receivers/administrators, properties including hotels...

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

Michael Noonan: The VAT treatment of goods and services is governed by EU law with which Irish VAT law must comply. Although there is merit in the proposal to limit tax abuse in the construction sector through the introduction of a VAT refund for home owners employing VAT compliant builders, enforcement of tax law through tax reductions is not an advisable policy, especially in the current economic climate....

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

Michael Noonan: I am advised by NAMA that it does not own nor does it manage properties securing its loans and that the properties to which the Deputy refers are under the control of its debtors and receivers. NAMA advises that the income arising from the rental by state bodies of approximately 82 NAMA debtor and receiver properties is of the order of €30 million per annum. NAMA advises that 48...