Results 12,321-12,340 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: VAT Rates Reductions (25 Sep 2013)

Michael Noonan: I propose to take Questions Nos. 71 and 72 together. The 9% reduced VAT rate for tourism related services was introduced in July 2011 as part of the Government Jobs Initiative. The measure was designed to boost tourism and create additional jobs in that sector. The measure was estimated to cost €120 million in 2011, €350 million in 2012, €350 million in 2013, and...

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

Michael Noonan: The yield to date from the 0.6% stamp duty levy on pension fund assets in respect of 2013 is €110 million. However, the deadline date by which payment of the levy is due for 2013 is today (25 September 2013). It will take some days before the data on the yield as at the deadline date feeds through the Revenue Commissioners’ systems. The information should be available at the...

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

Michael Noonan: I am informed by the Revenue Commissioners that the revenue from air travel tax for the years 2010, 2011, 2012 and the first eight months of 2013 is as follows: - €m 2010 104.7 2011 47.9 2012 33.6 2013 (Jan to Aug) 22.3 Please note that the receipts shown for 2013 are provisional and may be subject to revision.

Written Answers — Department of Finance: Fiscal Policy (25 Sep 2013)

Michael Noonan: For the purposes of answering the question several assumptions have to be made. These are that: Planned revenue consolidation measures outlined in April’s Stability Programme Update remain unchanged. This is because the composition of GDP growth is crucial in forecasting tax and non-tax revenues and use of headline GDP growth would be misleading. General government expenditure is...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (25 Sep 2013)

Michael Noonan: The Government recognises that SMEs are the lifeblood of the economy and will play a vital role in the recovery of employment growth in our country. It also recognises that businesses with legacy debts may be viable. One of the key priorities of the Programme for Government is to ensure that an adequate pool of credit is available to fund SMEs in the real economy during the restructuring and...

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

Michael Noonan: Section 146 of the Finance (Local Property Tax) Act 2012 (as amended) provides for a monetary penalty where a liable person fails to deliver a Return to the Revenue Commissioners. The penalty chargeable is equivalent to the Local Property Tax (LPT) that is payable, subject to a maximum of €3,000. Section 149 of the 2012 Act (as amended) provides for the charging of interest on late...

Written Answers — Department of Finance: Job Creation Numbers (26 Sep 2013)

Michael Noonan: Figures of the estimated cost to the Exchequer of the Revenue Job Assist Scheme, and the number of employee claimants availing of it in each of the years 2010 and 2011, the latest year for which the necessary detailed information is available, are set out as follows. Year Number of Employees availing of Revenue Job Assist Cost to Exchequer €M 2010 650 0.5 2011 1,220 1.1

Written Answers — Department of Finance: Debt Management Services (26 Sep 2013)

Michael Noonan: I have been advised by the Central Bank that following the commencement of the Central Bank (Supervision and Enforcement) Act 2013, the Bank is now responsible for regulating debt management firms. Firms engaged in the provision of debt management services will now require to be authorised by the Central Bank pursuant to Part V of the Central Bank Act 1997 (as amended) (the Act). The Act...

Written Answers — Department of Finance: Tax Forms (26 Sep 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that P21s for the years 2002 – 2008 inclusive have issued previously to the person concerned. I am further advised that in response to the Deputy's question, copies of these statements have now also been issued. The person in question had not requested a P21 for 2009. However, the tax liability for 2009 has now been reviewed and a PAYE...

Written Answers — Department of Finance: Seed Capital Scheme Eligibility (26 Sep 2013)

Michael Noonan: The Seed Capital Scheme is designed for individuals who are or were in employment that was subject to PAYE. In general, it operates by providing that an individual, who makes an investment in new ordinary shares in a new company, may set off the amount of that investment against his or her taxable income in any of the previous 6 years, which will result in an overpayment of tax. The...

Written Answers — Department of Finance: Financial Services Regulation (26 Sep 2013)

Michael Noonan: The customer due diligence requirements are set out in the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (as amended by the Criminal Justice (Money Laundering and Terrorist Financing Act 2013). Section 33 of the 2010 Act requires designated persons (such as banks) to apply customer due diligence measures prior to establishing a business relationship with a customer e.g....

Written Answers — Department of Finance: Tax Code (26 Sep 2013)

Michael Noonan: I am advised by the Revenue Commissioners that food products, including gluten-free products, which meet the definition of food and drink for human consumption contained in paragraph 8 of Schedule 2 to the Value Added Tax Consolidation Act 2010 are liable to the zero rate of VAT. There is no scope under the VAT Directive to zero rate gluten free products that do not meet this definition. The...

Written Answers — Department of Finance: Banking Sector Redundancies (26 Sep 2013)

Michael Noonan: I have been informed that the Severance Programme in AIB commenced in June 2012 and involved the preparation of briefing packs for all staff considering early retirement or voluntary severance. In respect of Early Retirement, AIB Staff Pensions Department prepare individual figures for staff in advance of them accepting an offer from the Bank. This information is provided directly to...

Written Answers — Department of Finance: Banking Sector Redundancies (26 Sep 2013)

Michael Noonan: Permanent TSB has informed me that staff who were offered and accepted Voluntary Severance were advised that they would be offered the standard deferred pension benefits in accordance with the rules of their pension scheme. Permanent TSB advises me that details of the deferred pension benefits were issued to such staff members by the Trustees of the Pension scheme of which they were a member....

Written Answers — Department of Finance: Banking Sector Redundancies (26 Sep 2013)

Michael Noonan: Bank of Ireland has informed me that it offers an appropriate range of supports to all employees whose application for Voluntary Parting is accepted by the Group. Bank of Ireland supports include: - The opportunity to avail of a Financial one-to-one over the telephone with a Qualified Financial Adviser. - The opportunity to contact a Career Coach to have a telephone coaching session to...

Written Answers — Department of Finance: Pension Provisions (26 Sep 2013)

Michael Noonan: Finance Act 2013 was passed into law on 27th March and section 17 of the Act, which makes provision for pre-retirement access to AVCs, has effect from that date. Section 17 introduces a new section 782A into the Taxes Consolidation Act 1997 which provides members of occupational pension schemes with a three-year window of opportunity to draw down, on a once-off basis, up to 30% of the...

Written Answers — Department of Finance: NAMA Loans Sale (26 Sep 2013)

Michael Noonan: I am advised by NAMA that it is precluded by the provisions of various Statutes and by banking confidentiality case law from disclosing details relating its debtors and assets, including property assets, securing its loans. However per latest published information for 31 March 2013, which is available on the NAMA website, www.nama.ie, NAMA debtors in aggregate owe close to €70 billion...

Written Answers — Department of Finance: Tax Reliefs Cost (26 Sep 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the deductions and reliefs which are allowable for tax at an individual’s marginal rate of income tax and for which estimates of cost can be provided are set out below together with estimated costs for the year 2010, the most recent year for which the necessary estimates are available. If relief for these deductions and reliefs was...

Written Answers — Department of Finance: Tax Yield (26 Sep 2013)

Michael Noonan: It was announced in Budget 2011 that the necessary arrangements are being made to ensure that bets placed on the internet by domestic punters are subject to the same level of betting duty as applies to high street betting shops. This will serve to broaden the tax base and increase betting duty receipts. The Finance Act 2011 provides for the taxation of bets that remote bookmakers enter into...

Written Answers — Department of Finance: Tax Yield (26 Sep 2013)

Michael Noonan: It was announced in Budget 2011 that the necessary arrangements are being made to ensure that bets placed on the internet by domestic punters are subject to the same level of betting duty as applies to high street betting shops. This will serve to broaden the tax base and increase betting duty receipts. The Finance Act 2011 provides for the taxation of bets that remote bookmakers enter into...