Results 12,841-12,860 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Collection (7 Nov 2013)

Michael Noonan: I am advised by Revenue that, in the case to which the Deputy refers, the deduction from wages was not in respect of the person’s primary residence which is exempt from Local Property Tax (LPT). The person in question was linked to a second property on the basis of records imported by Revenue from another Government agency database during the development of the Property Register. It...

Written Answers — Department of Finance: Property Taxation Administration (7 Nov 2013)

Michael Noonan: I am advised by Revenue that Local Property Tax (LPT) refunds are not reimbursed in the form of amended income tax credits. Revenue has confirmed to me that LPT refunds are either made directly to the property owner or set against other outstanding tax liabilities, including LPT, if appropriate. Revenue has also confirmed that in the case of overpayments arising from the ‘deduction...

Written Answers — Department of Finance: Tax Reliefs Eligibility (7 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 79 and 82 together. It is difficult to be definitive about the number of individuals that may be affected by the changes to the Standard Fund Threshold (SFT) regime. Among other reasons, this is because the changes are likely to have both direct impacts and indirect behavioural impacts. The direct impacts will be on individuals whose pension savings or...

Written Answers — Department of Finance: Property Taxation Collection (7 Nov 2013)

Michael Noonan: I am advised by Revenue that primary responsibility for providing valid bank account details in regard to any tax payment, including Local Property Tax (LPT), rests with the taxpayer. However, notwithstanding the above, Revenue has confirmed to me that when the banks in question confirm the timing of the service withdrawal, it will review all remaining debit instructions at that point,...

Written Answers — Department of Finance: Tax Yield (7 Nov 2013)

Michael Noonan: An upper ceiling on the amount of medical insurance premiums that will qualify for tax relief, of €1,000 per adult and €500 per child was introduced in the Budget. The yield from this measure is estimated at €94 million in 2014 and €127 million in a full year. The position is that income tax relief is generally provided on contributions to private health insurance...

Written Answers — Department of Finance: Tax Reliefs Application (7 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 83 and 84 together. A breakdown of the cost of tax relief on employee contributions to occupational pension schemes is not available by either income tax rate or by reference to income levels, as tax returns by employers to the Revenue Commissioners of employee contributions to such schemes are aggregated at employer level. There is, therefore, no...

Written Answers — Department of Finance: Companies Law Issues (7 Nov 2013)

Michael Noonan: My colleague the Minister for Jobs, Enterprise and Innovation received Government approval on Tuesday 5 November to publish the Companies (Miscellaneous Provisions) Bill 2013. This Bill contains a proposed amendment to the Company Law Enforcement Act 2001 which is the legislation governing the ODCE. The relevant amendment addresses the sharing of information with the ODCE by the Revenue...

Written Answers — Department of Finance: Consumer Protection (7 Nov 2013)

Michael Noonan: I have no plans to introduce legislation to prohibit moneylenders from carrying on legitimate business. Moneylenders are governed by a number of legislative obligations and supervisory requirements. Moneylenders are required to hold a licence in accordance with the provisions of the Consumer Credit Act 1995 as amended. This licence is issued by the Central Bank and must be renewed annually. ...

Topical Issue Debate: Unfinished Housing Developments (12 Nov 2013)

Michael Noonan: On 7 February 2013, the Oireachtas passed the Irish Bank Resolution Corporation Act 2013, appointing joint special liquidators to the IBRC with immediate effect to wind up its business and operations. Under the IBRC Act the special liquidators are obliged to independently value all the assets of the IBRC and to engage in a sales process which will maximise the return for its creditors...

Topical Issue Debate: Unfinished Housing Developments (12 Nov 2013)

Michael Noonan: I thank the Deputy for bringing this matter to my attention. The liquidation will proceed in accordance with the legislation which was passed by the Houses of the Oireachtas. The order of creditor preference will be in accordance with what is normal under company law. Unsecured creditors will be considered for any residual resources that are available after the preferred creditors and the...

Finance (No. 2) Bill 2013: Second Stage (Resumed) (12 Nov 2013)

Michael Noonan: I will yield five minutes.

Finance (No. 2) Bill 2013: Second Stage (Resumed) (12 Nov 2013)

Michael Noonan: I thank Deputies for their considered and useful contributions today and last week. During the course of this Second Stage debate, a number of Deputies raised the future prospects of the Irish economy and Irish society. The Government is acutely aware of the challenges the Irish people have faced over the past few years and the resolute way they have faced them. The difficult decisions...

Access to Credit: Motion [Private Members] (12 Nov 2013)

Michael Noonan: I move amendment No. 2:To delete all words after “Dáil Éireann” and substitute the following: “notes that, in order to ensure an adequate flow of credit to viable companies, this Government in 2011 imposed challenging targets on AIB and Bank of Ireland for lending to small and medium businesses, and continues to monitor the banks’ progress in meeting...

Access to Credit: Motion [Private Members] (12 Nov 2013)

Michael Noonan: We will let Deputy Barry speak.

Written Answers — Department of Finance: Small and Medium Enterprises Supports (12 Nov 2013)

Michael Noonan: I would inform the Deputy that details of the 25 measures for jobs and growth that I announced in Budget 2014 are set out in Annex C of the Budget book. Full details of the budget are also available on my Department’s website (www.budget.gov.ie ). I set out below a copy of Annex C for the Deputy’s convenience. ANNEX C €500m TAX PACKAGE BUILDING BUSINESS AND CREATING...

Written Answers — Department of Finance: Tobacco Smuggling (12 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and for tacking the illicit trade in tobacco products, that they attach a high priority to dealing with this criminal activity. Their “Strategy on Combating the Illicit Tobacco Trade (2011-2013), which is published on the Revenue website (www.revenue.ie), includes a range of...

Written Answers — Department of Finance: Retail Sector Issues (12 Nov 2013)

Michael Noonan: I assume that the Deputy is referring to a levy on supermarket profits. In terms of tax policy generally, Ireland’s corporate tax rate of 12.5% on trading income is akin to a brand and is an important part of the Government’s strategy of creating an enterprise friendly environment to attract jobs and investment to Ireland. One of the main features of the rate is its...

Written Answers — Department of Finance: Single Euro Payments Area (12 Nov 2013)

Michael Noonan: The aim of the Single Euro Payments Area (SEPA) project is to create a single market for euro-denominated retail payments. SEPA is an EU initiative that will change the way that these payments are processed across Europe. SEPA will allow payment systems users to make euro-denominated retail electronic payments to payees located in any of the participating countries, using a single payment...

Written Answers — Department of Finance: Property Taxation Collection (12 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 61, 68, 71 and 81 together. Similar questions concerning payment of the 2014 LPT liability have been raised by a number of Deputies previously and I provided a detailed reply on 5 November to Questions Nos. 143 [47110/13], 202 [46491/13], 214 [46815/13], 215 [46879/13], 216 [46881/13], 229 [46999/13], 232 [47059/13], 239 [47101/13], and 252 (47136/13) which...

Written Answers — Department of Finance: Property Taxation Collection (12 Nov 2013)

Michael Noonan: I am advised by Revenue that the introduction of Local Property Tax (LPT), which was the largest extension of the self-assessment system in its history, represents a very great administrative challenge. For example, Revenue has answered in excess of 580,000 telephone calls and replied to in excess of 200,000 letters or emails since March 2013. Revenue has further advised that because LPT is...