Results 7,041-7,060 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Interest Relief Extension (16 Oct 2012)

Michael Noonan: The position is that mortgage interest relief is only available in respect of interest paid by an individual on a loan used by that individual for the purchase, repair, development or improvement of his/her sole or main residence. Mortgage interest relief will not be available on interest paid on a loan taken out on or after 1 January 2013. Given the current budgetary constraints, I have no...

Written Answers — Department of Finance: Tax Reliefs Availability (16 Oct 2012)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of a car adapted for the transport of a person with specific severe and permanent physical disabilities, to those who meet certain disability criteria. The disability criteria for eligibility for the tax concessions under this scheme are set out in...

Written Answers — Department of Finance: Tax Collection (16 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that they collect PRSI on behalf of the Department of Social Protection. The collection is integrated with the collection of PAYE in the case of employees, and with the self assessment system in the case of other taxpayers. Landlords are expected to include tax USC and PRSI with their annual return of income and pay the appropriate amount. Revenue...

Written Answers — Department of Finance: Tax Rebates (16 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that an application for a repayment of tax has not been received from the taxpayer in question. The individual concerned should make direct contact with his local Tax District, based at Michael Davitt House in Castlebar, with a view to progressing the matter to a satisfactory conclusion.

Written Answers — Department of Finance: VAT Rates Application (16 Oct 2012)

Michael Noonan: The amount on which VAT is chargeable, in accordance with section 37(1) of the Value-Added Tax Consolidation Act 2010, is the total consideration receivable by the supplier, “including all taxes, commissions, costs and charges whatsoever” but not including the VAT itself. VAT is governed by the EU VAT Directive, with which Irish VAT law must comply. Article 78 of the VAT...

Written Answers — Department of Finance: Tax Reliefs Availability (16 Oct 2012)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of a car adapted for the transport of a person with specific severe and permanent physical disabilities, to those who meet certain disability criteria. The disability criteria for eligibility for the tax concessions under this scheme are set out in...

Written Answers — Department of Finance: Customs and Excise Controls (16 Oct 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 cigarettes and tobacco products, that they are a fully integrated tax and customs administration and that it is not possible to disaggregate resources deployed exclusively at any given time on policing illegal cigarette smuggling. Revenue currently...

Written Answers — Department of Finance: Tax Residency Rules Review (16 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 166 to 168, inclusive, together. The Programme for Government update in March 2012 confirmed the commitment to undertake a consultation process on residence issues in 2012 to inform preparation for possible further changes in 2013. I launched the public consultation on tax residence rules in May this year, wherein I invited interested parties to make...

Written Answers — Department of Finance: Mortgage Interest Rates Issues (16 Oct 2012)

Michael Noonan: The Deputy will be aware that the Bank’s policy in relation to interest rates is a matter for the management and board of the institution. I have no role in the day-to-day commercial and operational decisions of the banks, which include these matters. These decisions are taken by the board and management of the institution. Notwithstanding the fact that the State is a significant...

Written Answers — Department of Finance: Departmental Expenditure (16 Oct 2012)

Michael Noonan: I, as Minister for Finance have no statutory role in relation to the work of the Irish Banking Federation. I have not provided financial support to the Federation during the period mentioned by the Deputy.

Written Answers — Department of Finance: Departmental Staff Numbers (16 Oct 2012)

Michael Noonan: The following table sets out the number of staff members (twelve) in my Department who are currently on secondment from the private sector or publicly controlled financial institutions and the institutions or business they transferred from. Institution Number AIB 6 Deloitte 2 PWC 2 KPMG 2 McCann Fitzgerald 1 They perform a wide range of specialised duties across the...

Written Answers — Department of Finance: Departmental Staff Numbers (16 Oct 2012)

Michael Noonan: The Revenue Commissioners have provided me with the following information in response to the Deputy’s question. Details of staff who transferred to the Revenue Commissioners since 2007 are provided in the following table: Grade 2007 2008 2009 2010 2011 To end Q3 2012 Assistant Secretary 1 Principal 2 5 1 1 Assistant Principal 9 11 1 1 Administrator Officer 1 1 ...

Written Answers — Department of Finance: Departmental Staff Recruitment (16 Oct 2012)

Michael Noonan: The Revenue Commissioners have provided me with the following information in response to the Deputy’s question. Details of staff who were recruited by the Revenue Commissioners from open competitions since 2007 are provided in the following table: Grade 2007 2008 2009 2010 2011 To End Q3 2012 Secretary General Level (Commissioners)*   1       1 Assistant...

Written Answers — Department of Finance: Banking Sector Issues (16 Oct 2012)

Michael Noonan: As the Deputy will be aware, the Bank of Ireland (BOI) was approved for State Aid under European Union Rules and the resulting decision was published as Decision number N546/2009 in the Official Journal of the European Union. The Decision was subject to BOI adhering to commitments as set out in the Annexes to the Decision. The commitment referred to in paragraph 140 concerns BOI providing a...

Written Answers — Department of Finance: Bank Codes of Conduct (16 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 175 and 176 together. I have been advised by the Central Bank that, in July 2010, the Irish authorities in the context of the final decision of the European Commission on the restructuring of Bank of Ireland, committed to undertake several actions in order to improve competition on the Irish banking market. As part of this programme, Ireland committed to...

Written Answers — Department of Finance: Banking Sector Regulation (16 Oct 2012)

Michael Noonan: Bank of Ireland has been granted four state aid approvals between 2009 and 2011. These have been published by the European Commission in redacted form on its website under the decision numbers, N149/2009, N546/2009, SA.33216 and SA.33443. There is no reference in the State-aid documents to methods for standard variable rate mortgage borrowers in negative equity switching to cheaper...

Written Answers — Department of Finance: Mortgage Schemes (16 Oct 2012)

Michael Noonan: I am informed by PTSB that in May 2011 it launched an incentive scheme to encourage customers to overpay on their tracker mortgages. The scheme operated by rewarding customers who made payments against their tracker mortgages which were above their normal scheduled repayments for that mortgage. Bonus payments of 10% of the “overpayment” amount were made to eligible customers....

Written Answers — Department of Finance: NAMA Loans Sale (16 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 179 to 182, inclusive, together. I am advised by the National Asset Management Agency (NAMA) that since inception to 31 March 2012 it has sold loans with a nominal value of €1.9 billion, and generated €7.2 billion in cash receipts from borrowers. (see page 3 of NAMA Quarterly Report, 31 March 2012 for additional detail) The Agency advises...

Written Answers — Department of Finance: Tax Reliefs Cost (16 Oct 2012)

Michael Noonan: As I stated in a previous reply to the Deputy, on 26 September 2012, Question No 56 (ref no 40934/12), the cost of the tax relief for private health insurance to 31 August this year was €601 million, comprising €305 million in medical insurance relief and €296 million in age related tax credits. I am informed by the Revenue Commissioners that tax relief generally on...

Written Answers — Department of Finance: Tax Reliefs Cost (16 Oct 2012)

Michael Noonan: Approved Retired Funds (ARFs) form part of the regime of flexible options on retirement first introduced in 1999. ARFs are not pension schemes per se. They are investment options into which the proceeds of certain pension arrangements can be invested on retirement. Under the “ARF option” individuals are entitled to take their retirement lump sum and, with the balance of their...