Results 11,241-11,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (28 May 2013)

Michael Noonan: I am informed by the Revenue Commissioners that relief under Section 598 of the Taxes Consolidation Act 1997 (“Section 598”), commonly referred to as retirement relief, is available to farmers who satisfy the conditions applicable to that relief. While the relief is commonly referred to as retirement relief it is not, in general, necessary that the farmer disposing of his or...

Written Answers — Department of Finance: Property Taxation Exemptions (28 May 2013)

Michael Noonan: I am advised by Revenue that the specific case to which the Deputy refers in his question does not qualify for an exemption because the person involved did not receive an award from either the Personal Injuries Assessment Board or a Court and is not a beneficiary under any trust as is required by the Finance (Local Property Tax) Act 2012 (as amended). However, from the additional information...

Written Answers — Department of Finance: Tax Code (28 May 2013)

Michael Noonan: Betting is the only form of gambling subject to taxation in the form of excise duty. The Finance Act 2011 provides for the taxation of bets that remote bookmakers enter into with persons in the State. This means, for example, that a business which engages in online bookmaking and which accepts bets from people in this country will be liable for betting duty on those bets, irrespective of...

Written Answers — Department of Finance: Public Services Provision (28 May 2013)

Michael Noonan: The Office of the Revenue Commissioners is notable for the efforts it makes to provide effective and timely assistance to all taxpayers regarding their tax affairs. The range of electronic and on-line contact options are recognised as leaders amongst international revenue organisations, and these are supported by “lo-call” telephone services, postal services and public offices...

Written Answers — Department of Finance: Tax Code (28 May 2013)

Michael Noonan: It is not clear from the question what other properties or land the proposed "vacant land tax" would apply to. I am advised by the Revenue Commissioners that they do not have any data on “vacant land”. Based on figures provided by the Central Statistics Office (CSO) the number of "vacant dwellings" per the 2011 census was in the region of 290,000. However, the CSO does not...

Written Answers — Department of Finance: Insurance Coverage (28 May 2013)

Michael Noonan: I understand from clarifications that my Department sought on this question that the Deputy is enquiring whether fire and accidental damage insurance policies (which I am deeming to be a form of public liability insurance) should be a compulsory requirement for contractors carrying out private construction contracts. Although such cover is not currently a compulsory requirement, it is deemed...

Written Answers — Department of Finance: EU Directives (28 May 2013)

Michael Noonan: The Irish Presidency continues to progress the complex Markets in Financial Instruments Regulation and Directive, (MiFIR and MiFID) with a view to reaching an agreement on a Council general approach before the end of its Presidency. To date, the Irish Presidency has received approximately 50 representations from Industry and individuals which have focused on a wide range of the MiFID...

Written Answers — Department of Finance: Mortgage Arrears Proposals (28 May 2013)

Michael Noonan: I have been informed by the Central Bank that the Code of Conduct on Mortgage Arrears (CCMA) is a key part of the Central Bank's mortgage arrears framework. It is designed to provide appropriate and effective consumer protection measures and to ensure that borrowers are treated in a fair and transparent manner. The Central Bank first published the CCMA in February 2009. It set out rules...

Written Answers — Department of Finance: Banking Sector Remuneration (28 May 2013)

Michael Noonan: I propose to take Questions Nos. 171, 183 and 194 together. As I stated in earlier replies to Parliamentary Questions on this matter I can confirm that the three State supported banks responded with their individual strategies, designed to achieve the required savings, by the due date of 30 April as requested by the Government in response to the Review of Remuneration Practices &...

Written Answers — Department of Finance: Corporation Tax (28 May 2013)

Michael Noonan: I am informed by the Revenue Commissioners that companies operating in Ireland are chargeable to corporation tax at the 12½ per cent rate on the profits that are generated from their trading activities here. The 10 per cent corporation tax rate for profits from manufacturing expired at the end of 2010 and the 12½ per cent rate now applies to such profits. A higher 25 per cent rate...

Written Answers — Department of Finance: Property Taxation Application (28 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that a person who has a long term (for life or for a period of twenty years or more) right of residence that entitles them to exclude any other person from the property is the liable person in respect of that residential property and is entitled to claim deferral of the Local Property Tax (LPT) charge, subject to their meeting the required conditions....

Written Answers — Department of Finance: Non-Resident Companies (28 May 2013)

Michael Noonan: I propose to take Questions Nos. 174 to 176, inclusive, and 190 together. As a general rule, based on long-standing case law, companies are resident in Ireland for tax purposes if they are managed and controlled here. Since 1999, section 23A of the Taxes Consolidation Act 1997 added rules which provide that certain companies incorporated in the State are to be regarded as being resident...

Written Answers — Department of Finance: Tax Code (28 May 2013)

Michael Noonan: I cannot comment on the tax affairs of individual companies. However, I am aware of the Memorandum issued by the US Senate Permanent Subcommittee on Investigations last week. I want to make it clear that we do not have a special low corporation tax rate for individual companies. Ireland’s tax system is statute-based so there is no possibility of individual special tax rates for...

Written Answers — Department of Finance: Tax Code (28 May 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the statutory standard Corporation tax rates for all companies is as shown in the following table for all years from 1980. Information in relation to the tax payments of multinational corporations is not separately identifiable. In relation to the effective tax rate for multinational corporations, I have repeatedly stated that there is no...

Written Answers — Department of Finance: NAMA Operations (28 May 2013)

Michael Noonan: I refer the Deputy to my previous response on this topic (Parliamentary Question, 16009/12, 22nd March 2012). I am advised by NAMA that, as in the Republic of Ireland, a particular difficulty associated with the Northern Ireland residential market has been the lack of independent professional research and data about the key factors that will influence the future availability and cost of...

Written Answers — Department of Finance: Departmental Resources (28 May 2013)

Michael Noonan: The Revenue Commissioners and my Department are in ongoing contact regarding a very broad range of matters, including as appropriate, all the matters listed by the Deputy. More formally, the Revenue Commissioners have written to me on three occasions in the past four years in relation to staffing and resources generally, including equipment. In addition, in 2011 the Revenue...

Written Answers — Department of Finance: Financial Services Regulation (28 May 2013)

Michael Noonan: The Central Bank has informed me that the company referred to by the Deputy holds an authorisation since 4 November 2009. Retail Credit Firms are required to be authorised under Part V of the Central Bank Act, 1997 and a register of all such firms is maintained on the Central Bank of Ireland's website. The link to the relevant section on the Register is as follows: .

Written Answers — Department of Finance: Tax Compliance (28 May 2013)

Michael Noonan: As I have said in the Dáil previously we are in regular contact with our friends in the United States and we will communicate the issues referred to by the Deputy in the appropriate way at the appropriate time.

Written Answers — Department of Finance: Tax Compliance (28 May 2013)

Michael Noonan: I can advise the Deputy that there has been no formal communication with the European Commission regarding the allegations referred to and we are not aware of any examination of this issue by the Commission.

Written Answers — Department of Finance: Central Bank of Ireland Issues (28 May 2013)

Michael Noonan: I would emphasise that responsibility for security arrangements rests with the Central Bank of Ireland and that any suggestion that a new company is responsible for security arrangements is not correct. The Central Bank has entered into a contract with HP to provide the physical data centre environment to host the Central Bank’s IT systems and to manage the technical infrastructure...