Results 8,961-8,980 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Compliance (14 Feb 2013)

Michael Noonan: I am advised by the Revenue Commissioners that all developed countries operate some form of self-assessment system for their business taxpayers. The Irish self-assessment system ensures that there are tight controls in place for tax return filing rates which are borne out by the timely filing rates of 98% for large cases, 95% for medium cases and 80% for all other cases, across all taxes....

Written Answers — Department of Finance: Hospital Equipment (14 Feb 2013)

Michael Noonan: A benefit in kind charge under the provisions of Section 118 TCA 1997 arises where an employer incurs expense in the provision of living or other accommodation, entertainment, domestic or other services, or other benefits or facilities of whatever nature. The charge is based on the amount of the expense that is not made good to the employer by the employee. Facilities provided to hospital...

Written Answers — Department of Finance: Insurance Coverage (14 Feb 2013)

Michael Noonan: As indicated in my reply of 29 January 2013, the issue of provision of new flood cover or the renewal of existing flood cover is a commercial matter for insurance companies, which has to be based on a proper assessment of the risks they are accepting. The Deputy will recall that these are often considered on a case by case basis and it is important to be clear that neither the Government nor...

Written Answers — Department of Finance: Departmental Expenditure (14 Feb 2013)

Michael Noonan: In response to the Deputy’s question my Department provides shared accommodation services to the Department of Public Expenditure and Reform. In the period January 2012 to 31 December 2012 no money was spent on outsourced security services in respect of buildings occupied by staff of either the Department. Spend on outsourcing of security services in other Departments is a matter for...

Written Answers — Department of Finance: Departmental Expenditure (14 Feb 2013)

Michael Noonan: In response to the Deputy’s question my Department provides shared accommodation services to the Department of Public Expenditure and Reform. In respect of the period 1 January 2012 to 31 December 2012 €214,309 was spent on outsourced cleaning services in respect of premises occupied in Dublin by both the Department of Finance and Department of Public Expenditure and Reform...

Written Answers — Department of Finance: IBRC Staff (14 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 154 and 159 together. As the Deputy will be aware, on 7 February 2013 the Oireachtas passed legislation (Irish Bank Resolution Corporation Act 2013), appointing joint Special Liquidators to IBRC with immediate effect to wind up its business and operations. Following the liquidation, all employment contracts in the Republic of Ireland have been terminated...

Written Answers — Department of Finance: IBRC Staff (14 Feb 2013)

Michael Noonan: As the Deputy will be aware, on 7 February 2013 the Oireachtas passed legislation (Irish Bank Resolution Corporation Act 2013), appointing joint Special Liquidators to IBRC with immediate effect to wind up its business and operations. At this early stage of the special liquidation Special Liquidators are engaged in intensive processes which involve inter alia, asserting control over the...

Written Answers — Department of Finance: Treasury Bonds (14 Feb 2013)

Michael Noonan: Eight new Floating Rate Treasury Bonds have been issued to discharge the Promissory Notes liability consisting of: -a 25 year bond of €2bn maturing in 2038 with an interest rate of 6-month Euribor plus a margin of 2.50%; -a 28 year bond of €2bn maturing in 2041 with an interest rate of 6-month Euribor plus a margin of 2.53%; -a 30 year bond of €2bn maturing in 2043 with...

Written Answers — Department of Finance: Tax Reliefs (14 Feb 2013)

Michael Noonan: Tax relief is available, at varying rates and subject to certain ceilings, in respect of interest paid by an individual on a loan used for the purchase, repair, development or improvement of his/her sole or main residence or the sole or main residence of his/her former or separated spouse/civil partner. The relief is available up to and including the tax year 2017 on the interest paid on...

Written Answers — Department of Finance: IBRC Liquidation (14 Feb 2013)

Michael Noonan: As the Deputy may be aware, between now and August of this year, the Special Liquidator will seek to value and sell certain IBRC loans. After this sales process has been completed, NAMA will acquire the residual unsold loans in the IBRC loan portfolio at a price which is to be determined by the Special Liquidator. However NAMA’s primary commercial objective, as set out in Section...

Finance Bill 2013: Order for Second Stage (19 Feb 2013)

Michael Noonan: I move: "That Second Stage be taken now."

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael Noonan: I move: "That the Bill be now read a Second Time." I am pleased to bring the Bill to the House at a time we can be optimistic. Ireland is continuing to recover from the most severe downturn in the history of the State, caused by crises in both the public finances and the banking system. The approach the Government has taken to engineer that recovery has had three overarching principles,...

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael Noonan: Part 5 deals with capital acquisitions tax, CAT. Section 81 is an interpretation section. Section 82 provides for the CAT changes announced in the budget, bringing the increase in the rate from 30% to 33% and the 10% reduction in the group tax free thresholds. Section 83 confirms the position that interest on outstanding discretionary trust tax, DTT, arises from the valuation date of the...

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael Noonan: It is a public expenditure issue.

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael Noonan: The cap is the tax liability.

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael Noonan: I will be in London during the next three days on Government business. If I had not introduced the Bill tonight it would have had to be introduced by a Minister of State. I wanted to introduce and speak on the Bill.

Written Answers — Department of Finance: Tobacco Smuggling (19 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that combatting the illegal tobacco trade is, and will continue to be, a very high priority for them. The Commissioners' "Strategy on Combating the Illicit Tobacco Trade (2011-2013)", which is published on the Revenue website (www.revenue.ie), includes a wide range of measures designed to target those engaged in the supply and sale of illicit...

Written Answers — Department of Finance: Property Taxation Application (19 Feb 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 provides that local authorities will be liable to pay the Local Property Tax (LPT) on their properties in the same way as any other residential property owner, unless the properties are used to accommodate people with special housing needs, such as the elderly and people with disabilities. "Special housing needs" refers to the provision of housing...

Written Answers — Department of Finance: VAT Legislation (19 Feb 2013)

Michael Noonan: I assume that the Deputy’s question refers to the ability of local authority tenants to access funding to cover the VAT-inclusive cost of buying a local authority house where the transaction is liable to VAT. VAT is a European Union wide tax governed by Council Directive 2006/112/EC and all Member States must ensure their domestic VAT legislation complies with this Directive. VAT...

Written Answers — Department of Finance: Credit Availability (19 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 235 and 236 together. My officials and I meet with many stakeholders in relation to issues within the remit of my Department and I can confirm that the issues of the level of indebtedness in the hotel sector and credit availability to the sector have been brought to my attention. The Government has imposed SME lending targets on the two domestic pillar...