Results 12,361-12,380 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Film Industry Tax Reliefs (1 Oct 2013)

Michael Noonan: 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 a comprehensive review and cost...

Written Answers — Department of Finance: Tax Yield (1 Oct 2013)

Michael Noonan: Budget 2013 provided for increasing the rate of capital gains tax from 30% to 33% for disposals made after 5 December 2012. This was implemented by way of Financial Resolution on Budget Night and was subsequently provided for in Finance Act 2013. The change was estimated to yield €50 million in 2013. However, I am informed by the Revenue Commissioners that figures of capital gains tax...

Written Answers — Department of Finance: Tax Yield (1 Oct 2013)

Michael Noonan: Budget 2013 provided for increasing the rate of capital acquistions tax from 30% to 33% for gifts or inheritances taken after 5 December 2012. This was implemented by way of Financial Resolution on Budget Night and was subsequently provided for in Finance Act 2013. The change referred to was estimated to yield €20 million in 2013. However, I am informed by the Revenue Commissioners...

Written Answers — Department of Finance: Tax Yield (1 Oct 2013)

Michael Noonan: Budget 2013 provided for reducing the capital acquisitions tax group tax free thresholds by 10% for gifts or inheritances taken after 5 December 2012. This was implemented by way of Financial Resolution on Budget Night and was subsequently provided for in Finance Act 2013. The change was estimated to yield €10 million in 2013. However, I am informed by the Revenue Commissioners that...

Written Answers — Department of Finance: Tax Code (1 Oct 2013)

Michael Noonan: In my Budget 2013 speech, I announced that changes to give effect to the commitment in the Programme for Government to cap taxpayers’ subsidies for pension schemes which deliver pension income of more than €60,000 will be put in place in 2014. An examination of the various options for change, including possible changes to the Standard Fund Threshold (SFT) regime, is continuing....

Written Answers — Department of Finance: Tax Code (1 Oct 2013)

Michael Noonan: In computing trading profits chargeable to corporation tax at the 12.5% rate, companies are allowed to deduct costs incurred on membership fees for voluntary trade associations for businesses, where membership is wholly and exclusively for the purpose of their trade. Statistical information on the amounts paid on membership fees for voluntary trade associations is not separately identified...

Written Answers — Department of Finance: Budget Submissions (1 Oct 2013)

Michael Noonan: My Department has so far received in excess of 450 Pre-Budget Submissions from a wide range of groups and individuals. These are being considered by the relevant officials in the context of Budget and Finance Bill preparation. I can confirm that a submission from the Irish Congress of Trade Unions has been received. I would also advise the Deputy that I recently met with Congress in the...

Written Answers — Department of Finance: Excise Duties Issues (1 Oct 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the breakdown in excise returns by category and by month from January 2012 to August 2013, the latest date for which information is available, is as follows. 2012 Alcohol Tobacco Oils Carbon VRT Other Excise JAN 87.8 1 223.8 16.8 47.7 8.5 FEB 35.6 52.8 166.7 41.3 62.9 4.1 MAR 50.6 55.8 176.7 24.5 56.1 4 APR 64.7 70.8 166.8 34.2 44.5 9...

Written Answers — Department of Finance: IBRC Liquidation (1 Oct 2013)

Michael Noonan: Section 224 of the Companies Act, 1963, as it applies in modified form to the liquidation of IBRC pursuant to Section 10 of the IBRC Act, requires the directors of IBRC, unless “the Minister thinks it fit to order otherwise and so orders”, to prepare a Statement of Affairs in respect of IBRC (a “Statement of Affairs”) within 21 days of the date of the liquidation...

Written Answers — Department of Finance: Tax Collection Forecasts (1 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the full year yield to the Exchequer, in terms of the estimated outturn in 2013 from Stamp Duty on residential property, if the 1% rate of Stamp Duty on considerations of over €500,000 was increased to 2% would be €8.7 million; and if the 2% rate of Stamp Duty on considerations in excess of €1 million was increased to 4%...

Written Answers — Department of Finance: Tax Code (1 Oct 2013)

Michael Noonan: The issue of excise rates on alcohol will be considered in the context of the forthcoming Budget.

Written Answers — Department of Finance: Universal Social Charge Application (1 Oct 2013)

Michael Noonan: As the Deputy will be aware, when the USC was introduced in Budget 2011, those aged 70 years and over were not liable to the top rates of charge. The maximum rate of charge for such individuals was 4% irrespective of the level of their income, unless they had self-employment income in excess of €100,000 for a tax year, in which case the maximum rate was increased to 7% on the amount of...

Written Answers — Department of Finance: Tax Yield (1 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 207 and 209 together. I assume the Deputies are referring to the windfall gains provisions in sections 644AB and 649B Taxes Consolidation Act 1997, introduced by section 240 National Asset Management Agency Act 2009 and amended by section 25 Finance Act 2010, which apply an 80% rate of tax to the profits or gains from land disposals where those profits or...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (1 Oct 2013)

Michael Noonan: The initial application for a Primary Medical Certificate under the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994, is made to the Senior Medical Officer of the relevant local Health Service Executive administrative area. If the Primary Medical Certificate is refused, the person may appeal the refusal to the Disabled Drivers Medical Board of Appeal, National...

Written Answers — Department of Finance: Budget Submissions (1 Oct 2013)

Michael Noonan: My Department has received a pre-Budget submission from SIMI which includes, among other things a proposal for a swappage scheme. All such proposals will be considered in the context of the forthcoming Budget.

Written Answers — Department of Finance: Tax Rebates (1 Oct 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that a PAYE Balancing Statement (P21) for 2012 and a refund cheque will issue shortly to the person concerned.

Written Answers — Department of Finance: VAT Rate Application (1 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 212 and 218 together. I am informed by the Revenue Commissioners that a Revenue audit was conducted on the firm in question. The audit identified a number of liabilities, including interest and penalties. These additional liabilities were accepted and agreed, in writing, by the proprietors. The principal component of the additional liabilities arose from...

Written Answers — Department of Finance: VAT Rate Reductions (1 Oct 2013)

Michael Noonan: 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 €60 million in 2014. The cost of the VAT reduction was...

Written Answers — Department of Finance: Tax Exemptions (1 Oct 2013)

Michael Noonan: As I pointed out in a previous reply to a PQ which was tabled by the Deputy in June of this year, I made provision in Budget 2013 for the following measure designed to assist farmers with consolidation of farm land. This measure followed on from measures in the previous year’s Budget which also supported farm expansion and the transfer of land. Section 48 of Finance Act 2013 provides...

Written Answers — Department of Finance: Vehicle Registration Issues (1 Oct 2013)

Michael Noonan: The issue of amending the current registration plate system was considered as part of the VRT/Registration plate review process undertaken by my Department in 2012. All relevant stakeholders (Environment, Transport, the Gardai, RSA, NRA) were consulted at the time and none were in favour of the proposal. Issues raised at the time were that it would be overly cumbersome, require significant...