Results 12,681-12,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Budget 2014 (23 Oct 2013)

Michael Noonan: For 2013, employment growth of 1.6 per cent is projected. This takes into account outturn data for the first half of the year, which show average annual employment growth of 1.5 per cent. This growth is in both full-time and part-time employment and was broad-based across the majority of sectors in the economy. In addition, high frequency data, such as the Liver Register and survey data,...

Written Answers — Department of Finance: Pensions Levy Yield (23 Oct 2013)

Michael Noonan: I announced in my Budget speech last week that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 will be abolished from the 31st of December 2014. I will however, introduce an additional levy on pension funds at 0.15%. I am doing this to continue to help fund the Jobs Initiative, including the continuation of the reduced 9% VAT rate detailed below and to make...

Written Answers — Department of Finance: Property Taxation Administration (23 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the introduction of Local Property Tax (LPT), which was the largest extension of the self-assessment system in its history, has been a major administrative challenge. On response times, Revenue strives to respond to all correspondence and contacts within its customer service standards, i.e., 30 days. However, as LPT is a new tax it was...

Written Answers — Department of Finance: Tax Reliefs Application (24 Oct 2013)

Michael Noonan: The position is that from 16 October 2013, tax relief for medical insurance premiums will be restricted to the first €1,000 per adult and the first €500 per child insured. Any portion of premium paid in excess of these ceilings will no longer qualify for tax relief. The new ceilings will ensure continuing support via the tax system for those who purchase standard policies,...

Written Answers — Department of Finance: Insurance Costs (24 Oct 2013)

Michael Noonan: At the outset, I would point out that the calculation of annual premium rates is a commercial decision for the insurance company in question. Neither I, as Minister for Finance, nor the Central Bank of Ireland, can require a company to change its rates or prohibit a company from doing so. The primary purpose of the 2012 amendment to the Equal Status Acts is to provide in Irish law for the...

Written Answers — Department of Finance: Tax Reliefs Application (24 Oct 2013)

Michael Noonan: The position is as I stated in Budget day speech, that from 16 October 2013, tax relief for medical insurance premiums will be restricted to the first €1,000 per adult and the first €500 per child insured. Any portion of premium paid in excess of these ceilings will no longer qualify for tax relief. The new ceilings will ensure some continuing support via the tax system for...

Written Answers — Department of Finance: Health Insurance Prices (24 Oct 2013)

Michael Noonan: The position is that from 16 October 2013, tax relief for gross medical insurance premiums will be restricted to the first €1,000 per adult and the first €500 per child insured. Some insurers currently quote prices that are net of tax relief at source, i.e. the tax relief available is deducted from the gross premium to leave a net payable amount. Ultimately, pricing of...

Written Answers — Department of Finance: Health Insurance Prices (24 Oct 2013)

Michael Noonan: The position is that from 16 October 2013, tax relief for medical insurance premiums will be restricted to the first €1,000 per adult and the first €500 per child insured. Any portion of premium paid in excess of these ceilings will no longer qualify for tax relief. The new ceilings will ensure some continuing support via the tax system for those who purchase medical insurance...

Written Answers — Department of Finance: Tax Credits (24 Oct 2013)

Michael Noonan: Neither the Revenue Commissioners nor my Department would ever provide advice to facilitate tax planning. I assume the Deputy is referring to the changes announced in Budget 2014 to the One-Parent Family Tax Credit. The position is that the One-Parent Family Tax Credit is being replaced with a new Single Person Child Carer Tax Credit from 1 January 2014. The Single Person Child Carer Tax...

Written Answers — Department of Finance: Tax Credits (24 Oct 2013)

Michael Noonan: The position is that the One-Parent Family Tax Credit is being replaced with a new Single Person Child Carer Tax Credit from 1 January 2014. The Single Person Child Carer Tax Credit will be of the same value, i.e. €1,650, as the existing One-Parent Family Tax Credit and will also carry the same entitlement to the extended standard rate tax band of €36,800 per annum. The new...

Written Answers — Department of Finance: Credit Unions (24 Oct 2013)

Michael Noonan: As Minister for Finance I have no role in the Court process relating to Maynooth Credit Union and I do not propose to comment as the matter is still currently before the Courts.

Written Answers — Department of Finance: Tax Credits (24 Oct 2013)

Michael Noonan: As the Deputy is aware, the One-Parent Family Tax Credit is being replaced with a new Single Person Child Carer Tax Credit from 1 January 2014. The Single Person Child Carer Tax Credit will be of the same value, i.e. €1,650, as the existing One-Parent Family Tax Credit and will also carry the same entitlement to the extended standard rate tax band of €36,800 per annum. The new...

Written Answers — Department of Finance: Alcohol Sales (24 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the way in which Alcohol Products Tax and VAT are collected does not differentiate between off-licence and other sales.

Written Answers — Department of Finance: VAT Rate Application (24 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. Sports related coaching, such as swimming lessons are generally chargeable to VAT at the standard rate, currently 23%, in accordance with section 46(1)(a) of the Value Added Tax Consolidation Act 2010, as amended, and is in compliance with Article 96 of the EU VAT Directive...

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

Michael Noonan: I have no plans to put in place a Deposit Interest Retention Tax (DIRT) free limit on savings. Such a measure could be difficult to administer in the event of individuals opening a number of accounts to keep the interest payment on individual accounts below a certain level. This happened prior to the introduction of DIRT to avoid the provision that interest payments above a threshold were...

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

Michael Noonan: As I announced in Budget 2014, the rate of Deposit Interest Retention Tax (DIRT), and the rates of exit tax that apply to payments from life assurance policies and investment funds, are being increased and will now be 41% whether payments are made annually or more frequently (previously 33%) or are made less frequently than annually (previously 36%). The increased rates will apply to...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (24 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 66, 69 and 80 together. The Special Liquidators have given significant consideration to and have sought independent advice from PWC in relation to how the residential mortgage portfolio and other loans in IBRC are to be dealt with. Following that independent advice, the Special Liquidators have decided that the residential mortgage book would be split into...

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

Michael Noonan: In the November 2012 Medium Term Fiscal Statement, the Department of Finance published a paper on the importance of small business to the Irish economy. This paper highlighted that 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...

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

Michael Noonan: I propose to take Questions Nos. 68, 73, and 98 to 100, inclusive, together. I am advised by the Revenue Commissioners that yield and compliance data for the Local Property Tax (LPT) for 2013 are compiled on the basis of the number of properties and is available broken down by city and county councils nationally. The most up to date figures, which are published on the Revenue...

Written Answers — Department of Finance: Tax Residency Issues (24 Oct 2013)

Michael Noonan: Information on Irish residents who derive income from sources outside the State is received on a regular basis under the provisions of the exchange of information article in our double taxation treaties and, in the case of EU Member States, information can also be received under the provisions of Council Directive 2011/16/EU on administrative assistance in the field of taxation. The taxes...