Results 11,401-11,420 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Value for Money Reviews (12 Jun 2013)

Michael Noonan: In September 2008 the Government agreed to undertake a new round of Value for Money and Policy Reviews covering the three year period 2009-2011. The Department of Finance was not scheduled to carry out any reviews during that round. Instead, the evaluative resources within the Department of Finance (via the Central Expenditure Evaluation Unit) were to be focussed primarily on contributing to...

Written Answers — Department of Finance: Mortgage Interest Rates Issues (12 Jun 2013)

Michael Noonan: I, as Minister for Finance, have no statutory role in relation to the variable mortgage interest rates charged by regulated financial institutions. It is a commercial matter for the banks concerned. The mortgage interest rates that financial institutions operating in Ireland charge to customers are determined as a result of a commercial decision by the institutions concerned. This...

Written Answers — Department of Finance: Property Taxation Exemptions (12 Jun 2013)

Michael Noonan: Based on the information provided by the Deputy it is not possible to give a definitive reply. However, the following information may be of relevance, depending on the circumstances. While there is no overall exemption from the Local Property Tax (LPT) for a person with a disability, or for houses which have been specially adapted to cater for a resident with a disability, in certain limited...

Written Answers — Department of Finance: Budget 2014 Issues (12 Jun 2013)

Michael Noonan: In the past, the Department of Finance has generally released three separate publications containing macroeconomic and budgetary forecasts. 1. The Stability Programme Update, the most recent of which was published on April 30th this year. 2. The Medium Term Fiscal Statement (MTFS), the most recent of which was published in early November 2012. 3. Updated forecasts in the Budget...

Written Answers — Department of Finance: Tax Yield (13 Jun 2013)

Michael Noonan: Corporation tax (CT) receipts to end-May, at €1,042 million, were €150 million (16.8%) ahead of profile and €60 million (5.5%) down year-on-year. This year-on-year reduction at this stage of the year was expected, as it was due entirely to the impact of the delayed €251 million CT payment received in 2012, which was reported on extensively by my Department...

Written Answers — Department of Finance: Tax Yield (13 Jun 2013)

Michael Noonan: VAT receipts to end-May, at €4,994 million, were €117 million (2.3%) below profile and €15 million (0.3%) up year-on-year. The Revenue Commissioners have made my Department aware that the shortfall recorded in the first five months of the year is largely attributable to receipts from VAT on imports, and not VAT internal receipts, which are more closely related to...

Written Answers — Department of Finance: Tax Yield (13 Jun 2013)

Michael Noonan: Income tax receipts to end-May, at €6,122 million, were €55 million (0.9%) below profile and €125 million up year-on-year. Income tax receipts in the month were basically on target, recording a small surplus of €4 million (0.3%) against a target of €1,075 million. As the Deputy may be aware, Income Tax comprises of a number of individual sub-heads,...

Written Answers — Department of Finance: Fiscal Policy (13 Jun 2013)

Michael Noonan: A correction plan, within the meaning of Section 6 of the Fiscal Responsibility Act 2012, is only relevant in the event of a significant deviation from the medium-term budgetary objective, or where relevant the adjustment path towards it, and exceptional circumstances do not apply. This is not envisaged to occur at any point over the forecast period. If the State is required to prepare a...

Written Answers — Department of Finance: Prize Bonds (13 Jun 2013)

Michael Noonan: The National Treasury Management Agency (NTMA) is responsible for the State Savings schemes which includes Savings Certificates, Savings Bonds, Prize Bonds, the National Solidarity Bond and Instalment Savings, as well as the Deposit Accounts such as the Ordinary Deposit Account and the Deposit Account Plus which are managed on behalf of the NTMA by An Post. The NTMA keeps the suite of State...

Written Answers — Department of Finance: Personal Debt (13 Jun 2013)

Michael Noonan: The service provider for the pilot framework approach to the co-ordinated resolution of multiple debts owed by a distressed borrower has not yet been selected. However, I am informed by the Central Bank that a process to select a provider is to be run over the course of June and that all parties who have expressed an interest in participation will be considered. As part of this process,...

Written Answers — Department of Finance: Prize Bonds (13 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 63 and 64 together. The National Treasury Management Agency (NTMA) is responsible for the State Savings schemes which includes Prize Bonds. I am informed by the NTMA that they define unclaimed prizes from the Prize Bond draws as prizes that have remained unclaimed for more than six months. Unclaimed prizes remain a liability of the NTMA to the Prize Bond...

Written Answers — Department of Finance: Personal Insolvency Practitioners (18 Jun 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that a Personal Insolvency Practitioner (PIP) will be involved in the Debt Settlement Arrangements and Personal Insolvency Arrangements as provided for in the Personal Insolvency Act 2012. Any fees charged by a PIP in connection with these services are liable to VAT at the standard rate, currently 23%. A PIP in this regard is acting in a...

Written Answers — Department of Finance: Property Taxation Collection (18 Jun 2013)

Michael Noonan: Section 119 of the Finance (Local Property Tax) Act 2012, as amended, sets out the dates for payment of the Local Property Tax (LPT) and clarifies that while the LPT is due by reference to a liability date it is not payable until a later date. For 2013, the liability date is 1 May 2013 while the payment due date is 1 July 2013, and for 2014, the liability date is 1 November 2013 and the...

Written Answers — Department of Finance: Tax Avoidance Issues (18 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 83 to 85, inclusive, together. As the Deputy is aware Ireland, as President of the Council of the European Union, has prioritised work in the area of tax fraud, evasion, and aggressive tax planning. To that end Ireland brokered agreement on Ecofin council conclusions on the European Commission's Action Plan on Tax Fraud and Evasion, which contained a series...

Written Answers — Department of Finance: International Summits (18 Jun 2013)

Michael Noonan: I did not attend the Bilderberg meeting.

Written Answers — Department of Finance: Universal Social Charge Yield (18 Jun 2013)

Michael Noonan: The data requested by the Deputy is listed in the table below. It is important to take into account that the figures displayed for 2011 and 2012 in the table below are based on end-year outturns and are on a Revenue Net Receipt basis. These can differ slightly from Exchequer Receipts for reasons of accounting and timing. The estimate for 2013 USC receipts are consistent with the forecasts...

Written Answers — Department of Finance: Public Relations Contracts Expenditure (18 Jun 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 no such costs were incurred by my Department.

Written Answers — Department of Finance: Universal Social Charge Application (18 Jun 2013)

Michael Noonan: The position is that the Universal Social Charge (USC) was introduced from 1 January 2011 to replace the Income Levy and the Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit. The USC is an annual tax payable on an individual's total income in a year, subject to a number of exemptions and reliefs. In...

Written Answers — Department of Finance: Banking Sector Issues (18 Jun 2013)

Michael Noonan: The timing of Ireland's next stress test is under discussion and no decision has been taken in this regard. The original timeline under the Troika programme, which was linked to the EU wide EBA stress test timeline, is being adapted in light of the evolving calendar for the next EU-wide bank diagnostic exercises in the lead-up to the Single Supervisory Mechanism (SSM). The intention is to...

Written Answers — Department of Finance: Tax Code (18 Jun 2013)

Michael Noonan: It is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. In line with this principle, the majority of social welfare payments are reckonable as income for tax purposes. These include long-term payments such as Disablement Benefit, the State Pension, Widows, Invalidity and Blind Pensions, Carers Allowance and the One Parent Family...