Results 7,361-7,380 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs (6 Nov 2012)

Michael Noonan: The following arrangements currently apply to retirement lump sums paid under pension arrangements approved by the Revenue Commissioners. Lump sum amounts up to €200,000 are paid free of tax. They are also paid free of USC. The portion of a lump sum between €200,001 and €575,000 is taxed on a ring-fenced basis at 20%. This means that no tax credits or other tax reliefs...

Written Answers — Department of Finance: Bank Debt Restructuring (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 207 to 212, inclusive, together. I can confirm that the transaction recently completed was not the transaction referred to in the Dail in April 2012 as a decision was subsequently taken, that Irish Life would engage a financial adviser to perform a wider marketing of the stake to Irish and international investors. Irish Life appointed Davy Corporate Finance...

Written Answers — Department of Finance: Mortgage Interest Relief (6 Nov 2012)

Michael Noonan: The position is as I stated in my Budget day speech and on many occasions in this House that mortgage interest relief for principal private residences will no longer be available to house purchasers who purchase after the end of 2012 and will be fully abolished from 2018. This means that the qualifying loan will have to be drawn down on or before 31 December 2012 in order to qualify for this...

Written Answers — Department of Finance: Tax Reliefs (6 Nov 2012)

Michael Noonan: I assume that the Deputy is referring to the current annual earnings cap of €115,000 which operates to limit the level of tax-relieved personal pension contributions in any one year. The annual earnings cap acts, in conjunction with age-related percentage limits of annual earnings, to put a ceiling on the annual amount of tax relief an individual taxpayer can obtain on pension...

Written Answers — Department of Finance: Tax Reliefs (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 215 and 221 together. Officials of my Department and the Revenue Commissioners have for some time been engaged in a process with representatives of certain of the professional stakeholders in the pensions sector, including the Irish Association of Pension Funds, about the potential for securing savings in the area of supplementary pension reliefs implicit...

Written Answers — Department of Finance: Customs and Excise Controls (6 Nov 2012)

Michael Noonan: I am informed by the Revenue Commissioners that their Customs Service currently deploys 13 detector dog teams at strategic locations throughout the country. The dogs are used to detect drugs, tobacco and cash and are used at ports, airports, mail centres, express courier depots and are also used to assist in the course of certain investigations. “Passive dogs” are used as this...

Written Answers — Department of Finance: Tax Reliefs (6 Nov 2012)

Michael Noonan: As regards tax reliefs currently available, a comprehensive summary of these was provided recently in my reply to PQ 197 of 23rd October. As the Deputy will be aware, virtually all of the area-based and property tax incentive schemes have ended and this year’s Finance Act provided for a cap on property-based Accelerated Schemes (in line with the tax life of the particular scheme) to be...

Written Answers — Department of Finance: Banking Sector Remuneration (6 Nov 2012)

Michael Noonan: A review of remuneration practices and frameworks at the State supported banks – a Programme for Government commitment - is presently underway. I have noted the concerns raised by the Deputy’s constituent in relation to bankers pay in that context. The present cap on remuneration remains in place. In relation to the suggestion of a tax on bonuses I would point out that...

Written Answers — Department of Finance: Tax Code (6 Nov 2012)

Michael Noonan: Under EU law (Art 13(2) of Council Directive 92/83/EEC) we are obliged to apply the same rate of excise duty to all other fermented beverages, which include cider. Ireland has however used the option under paragraph (3) of that article, to apply two lower rates to cider below 8.5% vol and 6% vol. In addition, a further reduced rate of tax for low strength cider was introduced, with effect...

Written Answers — Department of Finance: Tax Rebates (6 Nov 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that a refund is due to the person concerned for the tax year 2011. PAYE Balancing statement (P21) and refund will issue shortly.

Written Answers — Department of Finance: Mortgage Resolution Processes (6 Nov 2012)

Michael Noonan: The Central Bank has advised me that they wrote to all mortgage lenders in 2010 to ascertain whether they were offering, or intended to offer, a mortgage product that would allow home owners to sell their existing home and transfer the negative equity portion of the original loan to the new loan. In order to ensure that proposals in relation to such mortgages were consistent with the Central...

Written Answers — Department of Finance: National Asset Management Agency (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 223 and 224 together. The National Asset Management Agency (NAMA) advises that it does not pay salaries to debtors as it is not their employer. The Agency advises that, in certain cases, it permits debtors to retain part of the income from their income-producing assets to pay overheads where necessary for the preservation and enhancement of the value of...

Written Answers — Department of Finance: Tax Collection (6 Nov 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the number of litres of petrol and diesel that were sold in the state in the past five years is not available. However, the number of litres of petrol and diesel where mineral oil tax was paid in the calendar years 2007 to 2011 is as follows: Year Petrol Auto Diesel - Litres Litres 2007 2,377,727,280 3,025,245,030...

Written Answers — Department of Finance: Banking Sector Staff (6 Nov 2012)

Michael Noonan: I have been advised that 384 staff across Ireland, UK and the US have left IBRC from 1st January 2012 to 2nd November 2012. Some of these staff would have been replaced. Any information which IBRC receives about employees who leave the Bank to join other organisations is based on individuals volunteering such information to the Bank before they leave. The Bank does not have validated...

Written Answers — Department of Finance: Banking Sector Remuneration (6 Nov 2012)

Michael Noonan: I have been advised by the Bank of the following numbers in relation to total remuneration. These figures include the pension payments, allowances and benefits. Total Remuneration Staff Nos in UK & IRL €0 - €99,000 774 €100,000 - €149,000 146 €150,000 - €199,000 44 €200,000 - €299,000 24 €300,000 -...

Written Answers — Department of Finance: National Asset Management Agency (6 Nov 2012)

Michael Noonan: The National Asset Management Agency has no employees. Rather, under Section 42 of the NAMA Act 2009, the National Treasury Management Agency (NTMA) assigns staff to the Agency. As of end-October 2012, some 227 staff had been assigned by the NTMA to the Agency. The Agency reimburses the NTMA the costs incurred in assigning these staff and in providing other business and support services. ...

Written Answers — Department of Finance: National Asset Management Agency (6 Nov 2012)

Michael Noonan: I am informed by the National Asset Management Agency (NAMA) that in the period from its establishment in December 2009 to end-October 2012 there have been 23 staff departures.

Written Answers — Department of Finance: Property Taxation (6 Nov 2012)

Michael Noonan: I am assuming that the reference to the “home tax levy” is a reference to the Non Principal Private Residences (NPPR) charge payable under the Local Government (Charges) Act 2009. I am informed by the Revenue Commissioners that a person in receipt of rental income is assessed to income tax on the profit amount of the rents received (i.e. the gross rents less allowable expenses...

Written Answers — Department of Finance: Tax Clearance Certificates (6 Nov 2012)

Michael Noonan: The Revenue Commissioners have confirmed that the application for a Tax Clearance Certificate from the person (details supplied) was received by them on 24/10/2012 and approved and the Tax Clearance Certificate issued electronically on 25/10/12. There was no delay on the part of Revenue in this matter.

Written Answers — Department of Finance: Tax Yield (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 232 and 252 together. There are different ways of measuring the effective rate of corporation tax depending on the variables that are used. As there is no single internationally agreed comparative measure in place, I am not in a position to provide the information on effective tax rates sought in either of the Deputy’s questions. In answer to...