Results 12,381-12,400 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. The VAT Directive does not make specific provision for a reduced or zero rate to apply to safety equipment, including motorcycle helmets, and as such they are subject to the standard VAT rate, which is currently 23%.

Written Answers — Department of Finance: Property Taxation Deferrals (1 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 219 and 220 together. I am advised by the Revenue Commissioners that the most up to date Local Property Tax (LPT) figures, including the percentage of properties for which exemptions and deferrals were claimed, are published on the Commissioners website at . Work is on-going to refine the LPT Register, and more detailed and up-to-date data will be...

Written Answers — Department of Finance: Regulatory Impact Assessment Data (1 Oct 2013)

Michael Noonan: The information requested by the Deputy is contained in the following table. Bill Title Details of RIA carried out Central Bank (Supervision and Enforcement Bill) 2011. The Bill was enacted as the Central Bank (Supervision and Enforcement) Act 2013 in July 2013. A Regulatory Impact Analysis (RIA) was undertaken on this Bill in July 2011 prior to the Bill being published. Credit Union...

Leaders' Questions (2 Oct 2013)

Michael Noonan: Deputy Martin was never here when there was trouble. He was in America.

Written Answers — Department of Finance: Budget Submissions (2 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: Financial Services Regulation (2 Oct 2013)

Michael Noonan: I have no responsibility for the issue referred to by the Deputy which is a matter of Australian law. The regulation of mortgage lending in Australia is a matter for the authorities there.

Written Answers — Department of Finance: IBRC Mortgage Loan Book (2 Oct 2013)

Michael Noonan: I am advised that the Special Liquidators of IBRC are maintaining contact with its mortgage holders and with the Central Bank (as part of its overall Mortgage Arrears Resolution Strategy (MARS) process) with a view to appropriately dealing with INBS mortgage holders in arrears on their mortgage. The Special Liquidators also confirm that the residential mortgage customers of IBRC (in Special...

Written Answers — Department of Finance: Tax Code (2 Oct 2013)

Michael Noonan: Finance Act 2009 introduced a cap of 75% on the amount of interest on loans used to purchase, improve or repair rented residential property, that can be deducted in computing rental profit for tax purposes. The restriction applies to interest accruing on or after 7 April 2009. It does not apply to loans in respect of rented commercial property. I am advised by the Revenue Commissioners that...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (2 Oct 2013)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and Vehicle Registration Tax (up to a certain limit), and exemption from motor tax, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities. The disability criteria for these concessions are set out in the Disabled Drivers and Disabled...

Written Answers — Department of Finance: Budget 2014 Issues (2 Oct 2013)

Michael Noonan: Taxation provisions included in the Finance Act 2013 and the Finance (Local Property Tax) Act 2012 in relation to measures set out in Budget 2013 will result in an estimated carryover of around €300 million in 2014. There was also carryover from changes to PRSI in Budget 2013. Measures in relation to the maximum allowable pension fund at retirement to be introduced in 2014 were also...

Written Answers — Department of Finance: Universal Social Charge Yield (2 Oct 2013)

Michael Noonan: As the Deputy will be aware, Finance Act 2012 introduced a surcharge of 5% on the amount of income sheltered by property reliefs in a given year. The surcharge was effective from 1 January 2012 and applied to individuals with gross incomes exceeding EUR 100,000. It is tentatively estimated that the yield from increasing the surcharge from 5% to 10% could be of the order of EUR 7 million in...

Written Answers — Department of Finance: Excise Duties Yield (2 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 103 to 106, inclusive, together. I am informed by the Revenue Commissioners that, based on data currently available, the estimated full year yield from an increase in excise (VAT inclusive) on the products referred to are as follows: - 20c 50c €1 - Full year Full year Full year Wine 11.3 27.1 50.5 Tobacco 30.7 75.8 148.8 - 2c 5c 10c - Full year...

Written Answers — Department of Finance: Tax Collection Forecasts (2 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 107 to 112, inclusive, together. At the outset, it is important to note that the maximum annual amount of tax-relieved pension contributions that an individual can contribute to their pension arrangements is restricted to an age-related percentage limit of remuneration and is further subject to an overall earnings cap, which currently stands at...

Written Answers — Department of Finance: Tax Collection Forecasts (2 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 113 to 123, inclusive, together. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2013 incomes, of abolishing the main personal tax credits for income earners earning over €100,000 would be of the order of €320 million. The estimated full year yield to the Exchequer,...

Written Answers — Department of Finance: Tax Collection Forecasts (2 Oct 2013)

Michael Noonan: Section 473 of the Taxes Consolidation Act 1997 provides tax relief at the standard rate to individuals who pay for private rented accommodation that is used as their sole or main residence. The level of rent qualifying for rent relief depends on an individual’s marital status and age. In Budget 2011, it was announced that rent relief was being withdrawn on a phased basis. No new...

Written Answers — Department of Finance: Tax Collection Forecasts (2 Oct 2013)

Michael Noonan: I assume the Deputy is referring to the proposal to introduce a price cap on the pre-tax price of tobacco as proposed by the Irish Cancer Society and the Irish Heart Foundation in their pre-Budget submission. Preliminary advice on this suggests that any proposal to interfere with the ability of manufacturers to set the maximum price level for tobacco is a breach of Council Directive...

Written Answers — Department of Finance: VAT Rate Reductions (2 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. In line with best international practice it was introduced as a temporary measure and is due to expire at end December 2013, at which point it will revert to 13.5%. Retaining the 9% rate...

Written Answers — Department of Finance: Tax Collection Forecasts (2 Oct 2013)

Michael Noonan: Based on a yield in 2012 of €27 million under the current betting duty regime, an increase in betting duty as set out by the Deputy would yield €33 million and €40 million respectively. With regard to the extension of betting duty to online bets, it was announced in Budget 2011 that the necessary arrangements are being made to ensure that bets placed on the internet by...

Written Answers — Department of Finance: Social Insurance Rates (2 Oct 2013)

Michael Noonan: It is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Budget 2014 Issues (2 Oct 2013)

Michael Noonan: The budgetary and economic forecasts which will underpin the Budget are still a work in progress. I will not speculate on those figures at this stage. Budgetary forecasts will incorporate the impacts of the recently published Q2 Quarterly National Accounts and the September Exchequer returns. I would say to the Deputy that his nominal GDP forecast of €174.0bn and headline general...