Results 12,301-12,320 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Collection (24 Sep 2013)

Michael Noonan: I am informed by the Revenue Commissioners that taxpayers have a wide choice of payment options for the Local Property Tax (LPT) from which they can choose the method which is most suited to their individual circumstances. There are currently eight separate options available, including the option to pay the tax through phased cash payments from 1 July 2013 to the end of the year. The cash...

Written Answers — Department of Finance: Financial Services Regulation (24 Sep 2013)

Michael Noonan: The issue of telephone recording by financial service providers, including its application to mobile telephony, is dealt with through EU legislation. Under the current MiFID ('MiFID I'), there is Member State discretion in relation to imposing a mandatory obligation on investment firms to record telephone conversations relating to client orders. Under the transposing MiFID Regulations...

Written Answers — Department of Finance: Tax Code (24 Sep 2013)

Michael Noonan: The position is that mortgage interest relief is available in respect of interest paid on qualifying loans taken out on or after 1 January 2004 and on or before 31 December 2012 and such relief applies up to and including the tax year 2017. As you may be aware, mortgage interest relief is available, at varying rates and subject to certain ceilings, in respect of interest paid by an individual...

Written Answers — Department of Finance: Customs and Excise Controls (24 Sep 2013)

Michael Noonan: I am informed by the Revenue Commissioners that they are very conscious of the threat that the illegal importation of cigarettes poses to the Exchequer and to legitimate business and they have adopted a comprehensive strategy to tackle the problem throughout the country as well as in the border counties. Intensified targeting, in co-operation with other law enforcement agencies on both sides...

Written Answers — Department of Finance: Tax Collection (24 Sep 2013)

Michael Noonan: Firstly, the Deputy will be aware that the debt collection environment continues to be very challenging for Revenue given the ongoing difficult financial environment. In that regard I am assured that Revenue is very conscious of the challenges that exist for some businesses in meeting their tax obligations in a timely manner. Its debt collection caseworkers will always seek to work...

Written Answers — Department of Finance: Maternity Benefit Issues (24 Sep 2013)

Michael Noonan: The position is, as I have stated on many occasions in the House, that since the 1st of July 2013, Maternity Benefit is treated as taxable income. The underpinning legislation for this measure was contained in the Finance Act 2013, which was passed by the Oireachtas and signed in to law on 27 March 2013. It is a general principle of taxation that, as far as possible, income from all...

Written Answers — Department of Finance: Budget 2014 Issues (24 Sep 2013)

Michael Noonan: As the Deputy will be aware, the Programme for Government does contain a commitment to require all public bodies to take due note of equality and human rights in carrying out their functions. Furthermore, the Cabinet handbook requires a statement on the likely effects of the decision sought on equality and persons experiencing or at risk of poverty or social exclusion to be included in...

Topical Issue Debate: VAT Rate Reductions (25 Sep 2013)

Michael Noonan: I thank Deputies Nolan, Ann Phelan and Griffin for giving me this opportunity to speak on the issue of the 9% VAT rate. The programme for Government included a proposal to reduce the 13.5% VAT rate by 1.5% until the end of 2013. However, as part of the Government jobs initiative, it subsequently was decided to introduce a more targeted VAT reduction measure by introducing the 9% VAT rate...

Topical Issue Debate: VAT Rate Reductions (25 Sep 2013)

Michael Noonan: There is a misunderstanding about what the position is. The reduction was introduced as a temporary measure to pump-prime the industry. If Deputies ask me to leave the rate as it is, that means 13.5% from 1 January next year. Leaving it as it is means it reverts automatically to the higher rate because it was reduced for a temporary period. That is the reason it is so difficult to do it....

Written Answers — Department of Finance: Tax Reliefs Cost (25 Sep 2013)

Michael Noonan: In my 2013 Budget speech, I stated that (from next year) tax relief on pension contributions will serve to subsidise pension schemes that deliver income of up to €60,000 per annum. I went on to say, in this context, that the current arrangements governing the maximum allowable pension fund at retirement for tax purposes of €2.3 million allowed for very generous pensions for...

Written Answers — Department of Finance: Property Taxation Yield (25 Sep 2013)

Michael Noonan: For residential properties valued at over €1m, the Local Property Tax (LPT) payable is 0.18%onthe first €1m in value and 0.25% on the portion of the value above €1m. LPT was introduced with effect from 1 July 2013 and it is an annual charge rather than a quarterly charge. I am advised by the Revenue Commissioners that they have published preliminary global data on...

Written Answers — Department of Finance: Universal Social Charge Yield (25 Sep 2013)

Michael Noonan: The change I announced in the 2013 Budget to apply the standard rates of USC to those aged 70 years of age or over and medical card holders earning €60,000 and above was estimated to yield €25 million in 2013. However, I am informed by the Revenue Commissioners that figures of USC receipts are not captured in such a manner as would enable the impact of this change to be...

Written Answers — Department of Finance: Tax Reliefs Abolition (25 Sep 2013)

Michael Noonan: The budget change referred to in the question was estimated to yield €10 million in a full year but no yield was expected in 2013. I am informed by the Revenue Commissioners that figures of income tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified going forward.

Written Answers — Department of Finance: Tax Reliefs Application (25 Sep 2013)

Michael Noonan: As the Deputy rightly points out, in Budget 2013 I announced a number of changes to the existing scheme for film relief which was contained in Section 481 of the Consolidated Taxes Act 1997. The legal provisions required to enact those changes were contained in Finance Act 2013. Those changes will take effect from 1 January 2016. The changes to Section 481, which were enacted in response to...

Written Answers — Department of Finance: Tax Yield (25 Sep 2013)

Michael Noonan: The budget change referred to in the question was estimated to yield €50 million in 2013. However, I am informed by the Revenue Commissioners that figures of capital gains tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified. It may be noted that as this change applied to disposals made after 5 December, 2012 the bulk of...

Written Answers — Department of Finance: Tax Yield (25 Sep 2013)

Michael Noonan: The budget change referred to in the question was estimated to yield €20 million in 2013. However, I am informed by the Revenue Commissioners that figures for capital acquisitions tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified. It may be noted that as this change applies to gifts or inheritances taken after 05...

Written Answers — Department of Finance: Tax Yield (25 Sep 2013)

Michael Noonan: The budget change referred to in the question was estimated to yield €10 million in 2013. However, I am informed by the Revenue Commissioners that figures of capital acquisitions tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified. It may be noted that as this change applies to gifts or inheritances taken after 05...

Written Answers — Department of Finance: Tax Yield (25 Sep 2013)

Michael Noonan: The Budget change referred to in the question was estimated to yield €50 million in 2013. The yield from Deposit Interest Retention Tax (DIRT) is influenced by a number of factors, such as changes in the level of deposits held in financial institutions and interest rates, as well as budgetary changes in the tax rate. I am informed by the Revenue Commissioners that figures for DIRT...

Written Answers — Department of Finance: Tax Code (25 Sep 2013)

Michael Noonan: Small and medium sized businesses make up over 99% of businesses in Ireland and account for almost 70% of people employed. Despite Ireland's reputation as one of the world's most globalised economies, 64% of private sector workers are employed by indigenous non-exporting firms, with 56% working for indigenous, non-exporting small businesses. These numbers highlight the importance of...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (25 Sep 2013)

Michael Noonan: The Employment and Investment Incentive (EII) is a tax incentive which provides income tax relief for investment in certain corporate trades. Relief is initially available to an individual at 30%, with a further 11% tax relief available where it has been proven that employment levels have increased at the company at the end of the holding period. The EII commenced on 25 November 2011. Prior...