Results 11,381-11,400 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Arrears Proposals (11 Jun 2013)

Michael Noonan: The Central Bank has advised me that the consultation on the review of the Code of Conduct on Mortgage Arrears (CCMA) closed on 10 April 2013. Approximately 230 submissions from consumers, industry, representative bodies and other stakeholders were received. The Central Bank has begun a process to review and analyse all submissions. It is expected that the revised CCMA will be published...

Written Answers — Department of Finance: Debt Relief (11 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 195 and 196 together. As a member of the World Bank and the IMF, Ireland has played a strong role in the development of a consensus regarding the debt position of the least developed countries. At an international level, Ireland has been strongly supportive of the full implementation of debt relief and, where appropriate, debt cancellation. Ireland has...

Written Answers — Department of Finance: Euro Coins Production (11 Jun 2013)

Michael Noonan: The Central Bank will issue commemorative coins celebrating the 50th Anniversary of John F. Kennedy's visit to Ireland in 1963. The coins will go on sale to the general public on the 28 June. A €10 silver proof will be issued along with a double coin set featuring both the €10 silver proof coin and a €20 gold proof coin. The coins will feature a portrait of John F....

Written Answers — Department of Finance: European Investment Bank Loans (11 Jun 2013)

Michael Noonan: The EIB is the long-term financing institution of the European Union. Its mission is to help implement the EU's policy objectives by financing sound business projects. To finance these projects, the Bank borrows on the capital markets, passing on the benefit of its low borrowing cost due to its high credit rating to Member States. The priority objectives for the EIB’s lending...

Written Answers — Department of Finance: Fuel Oil Specifications (11 Jun 2013)

Michael Noonan: I assume the Deputy's question relates to the differential mineral oil tax rates that apply to auto-diesel and marked gas oil. The question of introducing a rebate scheme for users of marked gas oil has been addressed in previous parliamentary debates. I am advised by the Revenue Commissioners, who have responsibility for the collection of mineral oil product taxation and for tackling...

Written Answers — Department of Finance: Betting Regulations (11 Jun 2013)

Michael Noonan: 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 where that business is based. The existing betting duty (1%) will be applied to such...

Written Answers — Department of Finance: Tax Code (11 Jun 2013)

Michael Noonan: Capital Acquisitions Tax (CAT) applies to both gifts and inheritances. I am informed by the Revenue Commissioners that CAT is a self assessment tax ordinarily payable electronically through Revenue’s Online System (ROS). Where the valuation date for an inheritance is in the period 1 January to 31 August, a CAT return and payment of CAT due must be made by 31 October in that year....

Written Answers — Department of Finance: Departmental Reports (11 Jun 2013)

Michael Noonan: As part of my Department’s Strategy for Financial Inclusion in Ireland, a basic payment account (named the Standard Bank Account) was offered by three banks (AIB, Bank of Ireland and permanent tsb) in three pilot locations (New Ross, Tallaght and Tullamore) from 29 June 2012. The Financial Inclusion Working Group (FIWG) was tasked with governance of the project. The Standard Bank...

Written Answers — Department of Finance: Tax Settlements (11 Jun 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the granting of a tax credit for the amount of Danish tax paid in any year may only be given after the end of that year, on receipt of a copy of the Danish Tax Assessment / Balancing Statement. I would also like to refer the Deputy to my reply to his previous Dáil question (Ref 17336/12) on the matter in March 2012. In my reply I stated...

Written Answers — Department of Finance: Ministerial Appointments (11 Jun 2013)

Michael Noonan: Ireland currently holds a Director position at the European Bank for Reconstruction and Development (EBRD) Board under a Constituency agreement with Denmark which provides for an equal rotation of the posts of Director and Alternate Director between both countries on a three-year cycle. Ireland assumed the Director position in May of 2012 and holds this position until May of 2015 –...

Written Answers — Department of Finance: Customs and Excise Staff (11 Jun 2013)

Michael Noonan: I am advised by the Revenue Commissioners that their office is an integrated tax and customs administration and it is not possible to dis-aggregate staffing resources deployed exclusively on Customs and Excise work. The Revenue Commissioners have around 2,000 staff engaged on activities that are dedicated to target and confront non-compliance. These activities include anti-smuggling, audit,...

Written Answers — Department of Finance: Pension Provisions (11 Jun 2013)

Michael Noonan: I assume that the Deputy is referring to the arrangements for limited pre-retirement access to Additional Voluntary Contributions (AVCs) which I announced in my Budget 2013 speech. Finance Act 2013 was passed into law on 27th March and section 17 of the Act, which makes provision for the pre-retirement access to AVCs announced in the Budget, has effect from that date. Section 17 introduces...

Written Answers — Department of Finance: Banking Sector Regulation (11 Jun 2013)

Michael Noonan: The timing of the stress tests is under discussion at the present and no decision has been taken in this regard. The timetable for European wide stress tests will be one of the factors when deciding on a firm timetable for the stress test. However, the Irish authorities have agreed with the Troika that detailed preparatory work required for the stress test will be completed in 2013. Details...

Written Answers — Department of Finance: Banking Sector Issues (11 Jun 2013)

Michael Noonan: My Department has held no formal discussions nor is it currently considering taking on the Irish assets of any foreign owned banks operating in the State. However, as you would expect, my Department is regularly approached by members of the financial community with various proposals. All such approaches to my Department are reviewed and considered on their own merits. I am advised by NAMA...

Written Answers — Department of Finance: Tax Settlements (11 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 209 and 210 together. I am informed by the Revenue Commissioners that, for reasons of confidentiality, it is not possible to provide any information in relation to the tax affairs of any person. However, I am further advised specific provision is made in legislation for the publications of the list of defaulters, published on a quarterly basis. These lists...

Written Answers — Department of Finance: Pensions Levy Issues (11 Jun 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: Tax Exemptions (11 Jun 2013)

Michael Noonan: Section 207 of the Taxes Consolidation Act 1997 provides for an exemption from Income Tax, including Deposit Interest Retention Tax (DIRT) for qualifying charities. In order to qualify for a charitable tax exemption, a body or trust must be established for charitable purposes only and must apply all of its income to those purposes. Procedures are in place to firstly ensure that the exemption...

Written Answers — Department of Finance: VAT Rates Reductions (11 Jun 2013)

Michael Noonan: With regard to numbers employed in the tourism sector, research to this effect was carried out by my Department and published in the Medium-Term Fiscal Statement in November 2012. This report, entitled “Measuring the impact of the Jobs Initiative: Was the VAT reduction passed on and were jobs created?” contains detailed information with regard to the impact of the 9% VAT rate...

Written Answers — Department of Finance: Tax Credits (11 Jun 2013)

Michael Noonan: The position is that where a couple is cohabiting rather than married or in a civil partnership, they are treated as separate and unconnected individuals for the purpose of income tax. Each partner is a separate entity for tax purposes and, therefore, cohabiting couples cannot file joint assessment tax returns or share their tax credits and tax bands in the same manner as married couples....

Written Answers — Department of Finance: VAT Rates Application (12 Jun 2013)

Michael Noonan: The standard VAT rate of 23% applies to the personal security alarms for the elderly. This rate also applies to fees charged for monitoring of such personal alarms. It is not possible under EU VAT law to apply a reduced or zero rate of VAT, or an exemption from VAT, to the supply and monitoring of such products. Under the Value Added Tax (Refund of Tax)(No. 15) Order, 1981, it may be...