Results 12,561-12,580 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (9 Oct 2013)

Michael Noonan: Employees, including those who earn up to €3,174 of other income and who have this amount coded against their income tax credits, pay their income tax through the PAYE system. Any individual with income, and this can include maintenance income, not taxed through the PAYE system must pay their tax through the self-assessment system. While this does include self-employed individuals it...

Written Answers — Department of Finance: Revenue Commissioners Operations (9 Oct 2013)

Michael Noonan: I am informed by the Revenue Commissioners that advance opinions are provided by Revenue to clarify the tax treatment of a proposed transaction or business activity under the relevant legislation so that taxpayers can file a correct tax return and comply fully with their tax obligations. Revenue opinions are non-binding and seek to provide a considered and consistent interpretation of the...

Written Answers — Department of Finance: Non-Resident Companies (9 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 70 to 72, inclusive, together. I am informed by the Revenue Commissioners that Irish registered non-resident companies which do not carry on a trade in Ireland have no liability to Irish corporation tax and have no obligation to file an Irish corporation tax return. Non-resident companies that carry on a trade in Ireland through a branch or agency are...

Written Answers — Department of Finance: Public Expenditure Statistics (9 Oct 2013)

Michael Noonan: My Department is not in a position to provide details of the reduction in numbers as there is no targeted redundancy or early retirement scheme available to staff in my Department. Figures are not yet available for those who may retire on or before 31 August 2014 following the application of pay adjustments and related measures in accordance with the Financial Emergency Measure in the Public...

Written Answers — Department of Finance: Property Taxation Collection (10 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 51 and 61 together. In response to Question No. [42929], I am advised by Revenue that the anomaly to which the Deputy refers only arises in a very small number of cases where the PPS numbers are formatted in an old style that is incompatible with the current IT systems. Generally speaking the PPS numbers concerned are those that were historically assigned...

Written Answers — Department of Finance: Financial Services Regulation (10 Oct 2013)

Michael Noonan: I have been informed by the Central Bank that their review of payment protection insurance policies covers the selling of these products under the suitability requirements of the Consumer Protection Code, which was introduced in July 2007. Policies from that date only are included as part of the review. In the case of payment protection insurance policies sold prior to July 2007,...

Written Answers — Department of Finance: NAMA Transactions (10 Oct 2013)

Michael Noonan: NAMA will sell a loan portfolio only where it concludes that this is likely to produce the best financial result for the taxpayer by comparison with the alternatives such as the sale of the underlying relevant secured properties. As has been previously described, NAMA has adopted a very thorough approach in line with international best practice for the sale of loans, central to which is the...

Written Answers — Department of Finance: Private Pension Levy Yield (10 Oct 2013)

Michael Noonan: A temporary 0.6% stamp duty levy on pension fund assets was introduced in the Finance (No.2) Act 2011 as a measure to fund the Jobs Initiative. This was estimated to yield €470 million a year for 4 years. The Revenue Commissioners have advised me that receipts amounted to €463 million in 2011 and €483 million in 2012. This is broadly in line with the amounts anticipated...

Written Answers — Department of Finance: NAMA Investment Funds (10 Oct 2013)

Michael Noonan: NAMA’s objective is to recover the greatest amount possible for the taxpayer through the management and disposal of its acquired loans and the property assets securing them. In line with this, NAMA does not engage in fire sales, which is the sale of a loan or asset at below its intrinsic value. Rather, loans and properties are made available for sale in line with the absorption...

Written Answers — Department of Finance: Tax Collection (10 Oct 2013)

Michael Noonan: This is a matter for the Revenue Commissioners who advise me that they will investigate the matter raised by Deputy McGrath. For reason of taxpayer confidentiality, they will not be in a position to advise the Deputy of the outcome, but they will communicate directly with the person who contacted the Deputy regarding his personal tax affairs.

Written Answers — Department of Finance: Consumer Protection (10 Oct 2013)

Michael Noonan: If an insurance firm does not provide a consumer with two months' notice of their intention to cease operating, this is a potential breach of Section 3.11 of the Consumer Protection Code. The consumer can make a complaint to the Financial Services Ombudsman who deals independently with unresolved complaints from consumers about their individual dealings with all financial service providers....

Written Answers — Department of Finance: Government Pay Cap (10 Oct 2013)

Michael Noonan: The Government pay cap was introduced on 21 June 2011 on foot of a Government Decision (S180/20/10/1333) when it adopted a general policy of a €200,000 annual salary pay ceiling for new appointees to Senior Positions across the Public Service. This equalled the then Taoiseach's annual salary of €200,000 which was reduced under the FEMPI Act 2013 to €185,350 from 1 July...

Written Answers — Department of Finance: Financial Services Ombudsman Issues (10 Oct 2013)

Michael Noonan: I received the following information from the office of the Financial Services Ombudsman Bureau: During the period from 1 January 2010 to 8 October 2013, the Financial Services Ombudsman (FSO) received a total of 29, 640 complaints; he issued some 10,753 findings during the same period. 142 findings were appealed to the High Court i.e. 1.32% of the finding issued. There have been 6 appeals...

Written Answers — Department of Finance: VAT Rate Reductions (10 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%...

Written Answers — Department of Finance: Banking Sector Issues (10 Oct 2013)

Michael Noonan: The Deputy will be aware the Relationship Framework with the Allied Irish Banks provides that the State will not intervene in the day-to-day operations of the bank or their management decisions. This framework is published on the Department of Finance website. I must ensure that the bank is run on a commercial, cost effective and independent basis to ensure the value of the bank as an asset...

Written Answers — Department of Finance: IBRC Liquidation (10 Oct 2013)

Michael Noonan: I have been advised by the Special Liquidators that on the appointment of the Special Liquidators, Irish Bank Resolution Corporation Limited was already in dialogue with the Revenue Commissioners in relation to an open tax audit. The Special Liquidators are working with the Revenue Commissioners to close out the tax audit and some additional tax issues that have come to their attention. As...

Financial Resolutions 2014 - Budget Statement 2014 (15 Oct 2013)

Michael Noonan: The story of insolvent Ireland is familiar to all our people and the sacrifices people have made in recent years are well known. Reckless policies were pursued by the Fianna Fáil-led Government. This continued until Ireland was no longer able to borrow on the international markets and the Government had to turn to the lenders of last resort. The help from the IMF and the European...

Financial Resolutions 2014 - Budget Statement 2014 (15 Oct 2013)

Michael Noonan: This will support the increased number of jobs already in place and accelerate the creation of new jobs. To further support the tourism sector, I have also decided to reduce the air travel tax to zero with effect from 1 April 2014.

Financial Resolutions 2014 - Budget Statement 2014 (15 Oct 2013)

Michael Noonan: I expect the airlines to utilise this initiative to develop new routes and build traffic volumes, thereby helping tourism, and I have reason to believe they will do so. Agrifood and Fisheries The agrifood and fisheries sector is Ireland's largest indigenous industry, employing 150,000 people, producing an annual output of €24 billion and exporting €9 billion worth of goods to...

Financial Resolutions 2014 - Budget Statement 2014 (15 Oct 2013)

Michael Noonan: The objective of the review is to identify what works and what does not, and to redirect the existing level of tax expenditure towards achieving maximum benefit in this sector of the economy.