Results 10,721-10,740 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (7 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that nicotine replacement patches are subject to the standard rate of VAT in Ireland, currently 23%. Unlike other nicotine products, such as nicotine inhalers, tablets and chewing gum, which are categorised as oral medicines and therefore qualify for the zero-rate of VAT, nicotine replacement patches do not fall into this category and are therefore...

Written Answers — Department of Finance: Alcohol Pricing (7 May 2013)

Michael Noonan: The issue of the price of non-alcoholic beer on sale is a matter for the Department of Health and Children and I would advise the Deputy to forward her question to them for direct reply.

Written Answers — Department of Finance: Negative Equity Mortgages (7 May 2013)

Michael Noonan: The Central Bank has advised me that it has engaged with mortgage lenders in relation to negative equity mortgages to develop 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 are consistent with the Central Bank’s...

Written Answers — Department of Finance: Departmental Expenditure (7 May 2013)

Michael Noonan: I take it that the Deputy is referring solely to public relations costs and not to advertising costs that would be incurred by my Department in the normal course of business, such as entries into telephone directories, the placing of advertisements in national newspapers, recruitment advertising, etc. In the period in question my Department, the Comptroller and Auditor General, the Appeals...

Written Answers — Department of Finance: State Bodies Expenditure (7 May 2013)

Michael Noonan: I propose to take Questions Nos. 145 and 146 together. The National Treasury Management Agency (NTMA) does not maintain an internal press office. Instead, its internal communications resources are supported by an external service provider (appointed following a public procurement process) – currently Gordon MRM – in order to offer a full press office and communications service...

Written Answers — Department of Finance: Property Taxation Application (7 May 2013)

Michael Noonan: Local Property Tax (LPT) is a self-assessed tax and it is a matter for property owners to calculate the amount of LPT due based on their assessment of the market value of their property. Joint owners of a property are jointly and severally liable for the tax on the property. I am informed that the Revenue Commissioners issued one LPT Return for each residential property to the person that...

Written Answers — Department of Finance: Departmental Staff Numbers (7 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the introduction of the Local Property Tax (LPT) represents a significant administrative challenge. It is the largest extension of the self-assessment system in the history of the State. As a new service that will have exceptional temporary pressures at particular stages of its initial implementation it is difficult to predict the level of...

Written Answers — Department of Finance: NAMA Debtors (7 May 2013)

Michael Noonan: As has been previously advised to the House, NAMA seeks to ensure that income generated by assets securing its loans is applied towards repaying a debtor’s indebtedness to the Agency. In certain circumstances, debtors are allowed to retain a portion of asset income in lieu of overheads which include staff costs. NAMA also seeks to obtain charges over a debtor’s unencumbered...

Written Answers — Department of Finance: Tax Forms (7 May 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that this taxpayer’s claim for medical expenses for the year 2012 has been processed and a balancing statement (P21), dated 6 February 2013, has been issued. The balancing statement includes full credit for the medical expenses claimed, but also includes other adjustments, the overall effect of which is a net refund of €58.72. If...

Written Answers — Department of Finance: Banking Sector Remuneration (7 May 2013)

Michael Noonan: The present policy on remuneration at the covered institutions dictates that no individual may receive annual aggregate remuneration (excluding pension contributions) exceeding €500,000 unless specifically authorised. Our policy on bank remuneration is being augmented following the Review of Remuneration Practices and Frameworks at the covered institutions, conducted by Mercer, that...

Written Answers — Department of Finance: Property Taxation Exemptions (7 May 2013)

Michael Noonan: Section 8 of the Finance (Local Property Tax) Act 2012 (as amended) provides for an exemption from the charge to LPT for a property purchased by a first time buyer between 1 January 2013 and 31 December 2013. The Deputy will be aware that tax relief on mortgage interest was available subject to certain conditions for first time buyers, in respect of loans taken out in the period 1 January...

Written Answers — Department of Finance: Mortgage Interest Rates Issues (7 May 2013)

Michael Noonan: I, as Minister for Finance, have no statutory role in relation to the mortgage interest rates charged by regulated financial institutions. It is a commercial matter for the banks concerned. Firstly I must point out that it is not true to say that the Irish banks are funded mostly through the ECB; in fact the Irish banks primarily funded by deposits and other types of market funding. The...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (7 May 2013)

Michael Noonan: The criteria relating to the engine size of a vehicle and the relief available for vehicles which qualify under the Disabled Drivers Passenger Scheme have been in place since 1989. The purpose of the scheme was to provide for ways in which people with a physical disability could become more mobile; it is felt that the present limit of 2000cc is sufficient to allow for an extensive choice of...

Written Answers — Department of Finance: Pensions Levy Issues (7 May 2013)

Michael Noonan: The pension fund levy applies at a rate of 0.6% per annum to the market value, on the valuation date, of assets under management in pension funds and pension plans approved under Irish tax legislation. The levy will operate for a period of 4 years only (2011 to 2014) and the legislative provisions giving effect to the levy (section 4 of Finance (No 2) Act 2011) were specifically drafted to...

Written Answers — Department of Finance: VAT Rebates (7 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that a provision exists for the refund of VAT incurred on qualifying goods for the use of disabled persons. The Value Added Tax (Refund of Tax) (No 15) Order 1981 specifies the degree of disability and defines the qualifying goods. In this context qualifying goods are defined as goods which are aids or appliances, including parts and accessories,...

Written Answers — Department of Finance: Property Taxation Application (7 May 2013)

Michael Noonan: An important aspect of the work undertaken by Revenue in the implementation of Local Property Tax (LPT) has been the compilation of the first ever Register of residential properties in the State and the matching of the residential property with its owner or owners, where this information was available. I am informed by the Revenue Commissioners that LPT Returns, personalised letters and an...

Written Answers — Department of Finance: VAT Rates Application (7 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that oral contraceptive pills are liable to VAT at the zero rate and non-oral contraceptives are liable to VAT at the 13.5% reduced rate. The VAT rating of goods and services is constrained by the requirements of EU VAT law with which Irish VAT law must comply. Under the EU VAT Directive, Member States may retain the zero rate on goods and services,...

Written Answers — Department of Finance: Tax Code (8 May 2013)

Michael Noonan: Part 18C of the Taxes Consolidation Act 1997, as inserted by Finance Act 2010 and amended by subsequent Finance Acts, which concerns the Domicile Levy, makes no reference to the tax residence of the individuals to which the legislation applies. The levy therefore applies to individuals both resident and non-resident who meet the criteria set out in the legislation. It is important to note...

Written Answers — Department of Finance: NAMA Court Cases (8 May 2013)

Michael Noonan: I am advised that this matter relates to a position taken by a NAMA debtor in attempting to defend judgment proceedings taken by NAMA against him. I do not propose to comment as this relates to a matter which is within the jurisdiction of the Courts.

Written Answers — Department of Finance: NAMA Property Leases (8 May 2013)

Michael Noonan: NAMA, through its subsidiary National Asset Residential Property Services, has entered into an agreement to lease 13 houses in Cobh, County Cork to the National Association of Building Co-Operatives (NABCO). I am advised by NAMA that the particulars of the lease agreement, including term length and rental fee, have been negotiated in confidence with NABCO as a commercial counterparty and it...