Results 10,181-10,200 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Collection (16 Apr 2013)

Michael Noonan: Section 157 of the Finance (LPT) Act 2012 (as amended by the Finance (LPT) (Amendment) Act 2013) provides, that commencing in 2014, the Minister shall pay into the Local Government Fund an amount equivalent to the LPT (including any interest paid thereon) into the Central Fund or the growing produce thereof during that year. The allocation of funding to local authorities is properly a...

Written Answers — Department of Finance: Property Taxation Administration (16 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax (LPT) is to be administered and provides for a number of specific exemptions from the charge. Chapter 14 of the Revenue booklet ‘ Your guide to Local Property Tax’ sets out in detail the various property types that are exempt from LPT. From the information provided by the Deputy, the person in question...

Written Answers — Department of Finance: Banking Sector Issues (16 Apr 2013)

Michael Noonan: I can confirm for the Deputy that my Department is in the final stages of its review of the relevant documentation. As previously stated, the ultimate voting decision will be based on the assessment of the best interests of the State and to maximise the return to the taxpayer of the funds invested in the Bank.

Written Answers — Department of Finance: Mortgage Schemes (16 Apr 2013)

Michael Noonan: Firstly, I must confirm to the Deputy that the lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. It is not appropriate for me, as Minister for Finance, to comment on or become involved in the detailed mortgage position of mortgage holders. However, the Central Bank has advised me that Banks are expected...

Written Answers — Department of Finance: Property Taxation Exemptions (16 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 sets out how the tax is to be administered and provides for the collection of Local Property Tax (LPT). Student residences will be subject to LPT unless the premises qualify for an exemption or relief for any other reason. I have no plans to introduce a specific exemption for student residences.

Written Answers — Department of Finance: Property Taxation Collection (16 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) defines the chargeable value of a residential property as “the price that the unencumbered fee simple of the property might be expected to fetch on a sale on the open market were the property to be sold on the valuation date in a particular year in a manner that would secure the best possible price for the property and with the...

Written Answers — Department of Finance: Tax Forms (16 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that a P21 issued to the named individual on 9th April 2013 following receipt of an outstanding tax return on 8th April 2013.

Written Answers — Department of Finance: NAMA Portfolio Issues (16 Apr 2013)

Michael Noonan: NAMA is prohibited under Sections 99 and 202 of the NAMA Act from disclosing confidential information, which is specifically defined to include information relating to its debtors and details of their properties. Accordingly, the provision of the information sought by the Deputy would be in contravention of the NAMA Act. I would like to remind the Deputy that questions on individual...

Written Answers — Department of Finance: Mortgage Arrears Proposals (16 Apr 2013)

Michael Noonan: The Central Bank has advised me that they have now concluded a four week public consultation on the review of the Code of Conduct on Mortgage Arrears (CCMA). Approximately 230 submissions from consumers, industry, representative bodies and other stakeholders have been received. The Central Bank will now begin a process to review and analyse all submissions and it is anticipated that the...

Written Answers — Department of Finance: Tax Compliance (16 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that all stipends paid to presidents and honorary positions of unions are taxable in full under the PAYE and USC systems and that every union has a statutory obligation to account for the PAYE, PRSI and USC on all such payments. I am further informed by the Revenue Commissioners that all unions are subject to audit procedures similar to the...

Written Answers — Department of Finance: Property Taxation Exemptions (16 Apr 2013)

Michael Noonan: I have no plans to introduce such a package as described by the Deputy. I would point out that the Finance (Local Property Tax) Act 2012, as amended, provides for an exemption from the Local Property Tax for the first valuation period, up to the end of 2016, for new and previously unused properties that are purchased from a builder or developer between 1 January 2013 and 31 October 2016. ...

Written Answers — Department of Finance: Property Taxation Collection (16 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 346 to 350, inclusive, together. The Finance (Local Property Tax) Act 2012 sets out how the tax is to be administered and how a residential property is to be valued for Local Property Tax (LPT) purposes. LPT is a self-assessed tax and as I have advised the House on many occasions, it is a matter for the property owner in the first instance, to calculate...

Written Answers — Department of Finance: Property Taxation Administration (16 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 sets out how the tax is to be administered and how a residential property is to be valued for Local Property Tax (LPT) purposes. I am informed by the Revenue Commissioners that LPT is a self-assessed tax so in the first instance it is a matter for the property owner to calculate the tax due based on his or her assessment of the market value of the...

Written Answers — Department of Finance: Excise Duties Reliefs (16 Apr 2013)

Michael Noonan: Ethanol, which is fully denatured and intended for use as a substitute fuel, is chargeable to mineral oil tax in accordance with section 96(2A) of the Finance Act 1999. Section 100 of the Finance Act 1999 provides for an exemption from the carbon charge component of the mineral oil tax rate, if Revenue is satisfied that the fuel is biofuel. On the basis of current rates, assuming the...

Written Answers — Department of Finance: Data Protection (16 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 353 and 354 together. Section 851A of the Taxes Consolidation Act inserted by Section 77 of the Finance Act 2011 was enacted in order to provide a firm legislative basis for the protection of taxpayer information held by Revenue. Section 851A does not prevent case specific applications for access to data held by the Revenue Commissioner from being made by...

Written Answers — Department of Finance: Consumer Protection (16 Apr 2013)

Michael Noonan: I wish to inform the Deputy that I have no responsibility for the regulation of debt collectors and debt collecting firms. Debt collection services apply across a significantly wider range of activities than the recovery of money by financial institutions, for example for the non payment of utilities, rents, hospital charges, college fees, other consumer debts and also debts between...

Written Answers — Department of Finance: Banking Sector Regulation (16 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 356 and 357 together. I have been informed by AIB that there was no discrepancy in the wording of AIB's 2008 Annual Report and the documents filed by AIB at the Company Registration Office in relation to a first floating charge placed in favour of the Central Bank over all of AIB's right, title, interest and benefit, present and future in and to eligible...

Written Answers — Department of Finance: Property Taxation Administration (16 Apr 2013)

Michael Noonan: The introduction of the Local Property Tax will provide a stable funding base for the local authority sector, incorporating appropriate elements of local authority responsibility. It will strongly reinforce local democratic decision-making and will encourage greater efficiency by local authorities on behalf of their electorates. Secondly, it will deliver significant structural reform...

Written Answers — Department of Finance: Tax Compliance (16 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that they have a strong focus on ensuring optimal compliance with tax obligations and that issues of non-compliance are confronted and penalised. Revenue’s overall approach to managing compliance is to undertake a range of targeted interventions that are the most appropriate to the specific risks presented in individual cases. In 2012,...

Written Answers — Department of Finance: Tax Code (16 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that a single figure for the number of appeals unresolved for a period in excess of ten years is likely to present a misleading picture. This is because the system used by the Revenue Commissioners to record appeals does so by reference to unsettled assessments. Thus, a single issue can give rise to a number of appeals in relation to the same...