Results 13,001-13,020 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Insurance Compensation Fund (14 Nov 2013)

Michael Noonan: The Insurance Compensation Fund (ICF) was established under the Insurance Act, 1964 (the Act). Under the Act only court appointed administrators and liquidators of insurance companies can apply to the courts for access to the ICF. No administrator or liquidator has been appointed to RSA Insurance Ireland by the courts and therefore there are no implications for the ICF.

Written Answers — Department of Finance: NAMA Portfolio Issues (14 Nov 2013)

Michael Noonan: NAMA is making and will continue to make an important contribution to new supply in the Dublin residential property market. I outlined in my Budget 2014 speech that it is NAMA’s expectation, at this juncture, that its funding will contribute about 4,500 houses and apartments in terms of new supply in the Dublin market in the period to 2015. This is a significant output in the context...

Written Answers — Department of Finance: NAMA Portfolio Value (14 Nov 2013)

Michael Noonan: NAMA advises that the value of such sales is of the order of €2m to date.

Written Answers — Department of Finance: Home Repossession Rate (14 Nov 2013)

Michael Noonan: The strong view of the Government is that, in respect of co-operating borrowers under the Mortgage Arrears Resolution Process, repossession of a person’s primary home should only be considered as a last resort and that every effort should be made to agree a sustainable arrangement as an alternative to repossession. The policy measures adopted by Government are built on that overall...

Written Answers — Department of Finance: Banking Sector Issues (14 Nov 2013)

Michael Noonan: Macroeconomic simulations published at the time of the Budget suggest that a lower-than-expected interest rate environment would be likely to result in greater-than-forecast growth in economic activity and employment. I, as Minister for Finance, have no statutory role in relation to the mortgage interest rates charged by regulated financial institutions. It is a commercial matter for the...

Supplementary Estimates for Public Services: Motion (19 Nov 2013)

Michael Noonan: I move: That leave be given by the Dáil to introduce the following Supplementary Estimates for the service of the year ending on the 31st day of December, 2013:Vote 20 — Garda Síochána (Supplementary Estimate). Vote 24 — Justice and Equality (Supplementary Estimate).

Supplementary Estimates for Public Services: Referral to Select Committee (19 Nov 2013)

Michael Noonan: I move: That, subject to leave being given to introduce the following Supplementary Estimates for the service of the year ending on 31st December, 2013, the Supplementary Estimates be referred to the Select Committee on Justice, Defence and Equality, pursuant to Standing Orders 82A(3)(c) and 159(3) and paragraph (8) of the Orders of Reference of Select Committees, which shall report back to...

Topical Issue Debate: Fuel Laundering (19 Nov 2013)

Michael Noonan: The Revenue Commissioners inform me that they are acutely aware of the threat posed by fuel laundering to remove the marker added to rebated fuel for off-road use. Fuel laundering to remove the marker from rebated fuel has been a persistent problem during the years. However, it remained a marginal activity because the sulphur content of marked fuel was higher than that of road fuel....

Topical Issue Debate: Fuel Laundering (19 Nov 2013)

Michael Noonan: The initiatives taken in the last two Finance Bills are working, especially the one on traceability. In one case, thousands of litres of fuel were being delivered to the equivalent of a corner shop where, obviously, there was no outlet to sell it. Traceability is the key. Previously there was no traceability of the identities of the customers of the big fuel farms which supplied central...

Written Answers — Department of Finance: Tax Code (19 Nov 2013)

Michael Noonan: As the Deputy is aware, the One-Parent Family Tax Credit (OPFTC) 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 OPFTC and will also carry the same entitlement to the extended standard rate tax band of €36,800 per annum. The new credit will be...

Written Answers — Department of Finance: Tax Exemptions (19 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No: 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (as amended) provide for permanent relief from the payment of specified maximum amount of VAT and VRT for organisations registered under the scheme. On 22 May 2013, an...

Written Answers — Department of Finance: Vehicle Registration Issues (19 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 158 and 159 together. I am informed by the Revenue Commissioners that Statutory Instrument (S.I.) No. 318 of 1992, Vehicle Registration and Taxation Regulations (as amended by Statutory Instrument No. 542 of 2012) prescribes the format, lettering, dimensions and technical specifications of registration plates to be displayed on vehicles in the State. I am...

Written Answers — Department of Finance: Property Taxation Assessments (19 Nov 2013)

Michael Noonan: I understand that the person who has contacted the Deputy about this matter wishes to decrease the value previously declared to the Revenue Commissioners. As I informed the House previously in my replies to a number of Questions on this matter, most recently in my reply to Question 64 (47424/13) on 7 November 2013, Local Property Tax is a self-assessed tax so it is a matter for the property...

Written Answers — Department of Finance: Tax Reliefs Eligibility (19 Nov 2013)

Michael Noonan: Section 473A of the Taxes Consolidation Act 1997 provides, subject to certain conditions, for tax relief at the standard rate of income tax (20%) as regards a portion of qualifying fees paid by an individual in respect of a third-level education course including a postgraduate course. Qualifying fees means tuition fees in respect of an approved course at an approved college and includes what...

Written Answers — Department of Finance: Tax Collection (19 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the Domicile Levy was introduced in the Finance Act 2010. The first year for which individuals were required to make returns was the year 2010, and these returns had to be filed by 31 October 2011 or by 15 November 2011 if filed electronically using the Revenue Online Service (ROS). As requested by the Deputy, Table 1 sets out the domicile levy...

Written Answers — Department of Finance: Property Taxation Administration (19 Nov 2013)

Michael Noonan: I assume the Deputy is referring to the exemption in section 8 of the Finance (Local Property Tax) Act 2012 (as amended). It was originally intended that this exemption would only apply to first-time buyers, which is clear from the heading to the section: "Exemption for first-time buyers". The Explanatory Memorandum to the Bill (prior to enactment) also states that the exemption applies to...

Written Answers — Department of Finance: Tax Collection (19 Nov 2013)

Michael Noonan: I am advised by Revenue that in the vast majority of CAT cases, payment is made on behalf of the taxpayer by an agent or solicitor via the Revenue On-Line System (ROS). Once the user opts to pay via ROS then he/she has the choice of the full range of payment methods available including debit card. Revenue has also advised me that it has developed ROS to the very highest international...

Written Answers — Department of Finance: Tax Credits (19 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that this tax payer is jointly assessed with his wife, and that they are entitled to the married tax credit of €3,300 plus the PAYE tax credit of €1,650. These tax credits have been allocated to the wife for 2013 as requested by the couple. However, if the tax-payer believes he is entitled to other tax credits he should contact his...

Written Answers — Department of Finance: Tax Code (19 Nov 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. In Ireland the zero rate applies to printed books, including atlases, children’s picture, drawing and colouring books and books of music. It is possible for Ireland to apply the zero rate to printed books because Ireland applied the zero rate to these books on and...

Written Answers — Department of Finance: Revenue Commissioners Investigations (19 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that for reasons of taxpayer confidentiality the details cannot be provided to the Deputy. Where a company is in liquidation, the liquidation is subject to court supervision. It is a matter of public record that the Revenue appointed liquidator has raised some issues in the High Court in relation to the conduct of a director prior to liquidation of...