Results 13,161-13,180 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Money Laundering (21 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 29 and 40 together. Officials of my Department are continuing to explore with the National Treasury Management Agency (NTMA) whether or not exemptions available under the Third Money Laundering Directive (2005/60/EC) and its Implementing Directive (2006/70/EC) may be applied to small value purchases of prize bonds facilitated on behalf of the State by An...

Written Answers — Department of Finance: Tax Collection (21 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that they are unable to comment in relation to any specific cases for reasons of taxpayer confidentiality. Section 851A of the Taxes Consolidation Act 1997 (inserted by the Finance Act 2011) placed on a formal statutory basis the long-standing and accepted obligation on the Revenue Commissioners to treat all taxpayer information confidentially. The...

Written Answers — Department of Finance: Tax Compliance (21 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 31 to 35, inclusive, and 58 together. I am taking it that the questions relate to the seizure of goods in the context of the collection of tax debts. While the Deputy may not be referring to the right of appeal in relation to tax liabilities, which is a separate matter, in summary these provisions afford taxpayers the opportunity to ensure that they have...

Written Answers — Department of Finance: Credit Unions (21 Nov 2013)

Michael Noonan: Under the Credit Union Act 1997 credit unions are required to set aside provisions to deal with expected losses. An amount of €830.9 million in total provisions for bad debts was reported in the quarterly prudential returns to the Central Bank as at 30 September 2013. This amount compares with arrears in the sector of €816.1 million as reported on the same date. While these are...

Written Answers — Department of Finance: Tax Reliefs Availability (21 Nov 2013)

Michael Noonan: I have considered this matter carefully and I have decided at this time, not to extend the parameters of the scheme to include self-referral for physiotherapy. General practitioners act as an access and control point for the scheme of tax relief on health expenses, as all such expenses must be incurred on the advice or referral of a general practitioner. If physiotherapy was allowed without...

Written Answers — Department of Finance: Credit Unions (21 Nov 2013)

Michael Noonan: I have been informed by the Central Bank that Newbridge Credit Union Limited’s total members’ shares and deposits were €163.4 million as at 30 September 2010, as extracted from its audited financial statements for the financial year ended 30 September 2010. It is not currently possible to disclose Newbridge Credit Union Limited’s total members’ shares as at...

Written Answers — Department of Finance: Unemployment Levels (21 Nov 2013)

Michael Noonan: In Budget 2014, an average unemployment rate of 13.5 per cent was forecast by my Department for 2013. For 2014, a further decline in the unemployment rate is expected, with an average rate of 12.4 per cent forecast. After a number of very difficult years, a recovery in the labour market is now clearly taking hold. During this year live register data show a continually falling unemployment...

Written Answers — Department of Finance: Fuel Laundering (21 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that on 23 August 2013 their officers detected marked gas oil in the relevant vehicle. The Commissioners note that the notification of the transfer of ownership of the vehicle with effect from 20 August 2013 was not submitted to the Department of Transport until 7 October 2013. The Commissioners are satisfied that an offence under Mineral Oil Tax...

Written Answers — Department of Finance: Tax Code (21 Nov 2013)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. I am informed by the Revenue Commissioners that for the purposes of CAT, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the...

Written Answers — Department of Finance: Enterprise Support Schemes (21 Nov 2013)

Michael Noonan: In the recent Budget I announced the Start Your Own Business initiative, which provides an exemption from Income Tax for individuals who have been long-term unemployed and start a new, un-incorporated business between 1 January 2014 and 31 December 2016. Legislation is currently proceeding through the Oireachtas to provide for the budget measures. As the scheme has not yet commenced, there...

Written Answers — Department of Finance: Universal Social Charge Exemptions (21 Nov 2013)

Michael Noonan: Deposit interest earned by an Irish tax resident individual in a financial institution in Northern Ireland such as a bank, building society or credit union is exempt from the USC, as is deposit interest earned from similar institutions located in the State.

Written Answers — Department of Finance: Mortgage Interest Relief Eligibility (21 Nov 2013)

Michael Noonan: The position is, as I stated on many occasions in this House, in order to qualify for tax relief at source in respect of mortgage interest, a loan must have been drawn down and used in the purchase, repair or development of a principal private residence on or before 31 December 2012 and will be fully abolished from 2018. This decision was announced in Budget 2011 and introduced in Finance...

Written Answers — Department of Finance: Property Taxation Assessments (21 Nov 2013)

Michael Noonan: In accordance with the Finance (Local Property Tax) Act 2012 (as amended), liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which was 1 May 2013 for 2013 and for subsequent years, 1 November in the preceding year. As I informed the House previously in my replies to Questions Nos. [49518/13] and [49556/13] on 19 November...

Written Answers — Department of Finance: Exchequer Returns Issues (21 Nov 2013)

Michael Noonan: The proceeds of all borrowings by the Exchequer, including borrowing under the EU/IMF programme, as well as tax revenues, non-tax revenues and other receipts, are lodged to the Exchequer account at the Central Bank of Ireland to fund on-going Government expenditure. There are constant flows into and out of the Exchequer account and all moneys within it are fungible. The Government must...

Written Answers — Department of Finance: Irish Fiscal Advisory Council Reports (21 Nov 2013)

Michael Noonan: I assume that the Deputy is asking me to set out possible actions or recommendations made by the Fiscal Council since December 2012 that were not implemented by me or my Department. As the Deputy may be aware, the Irish Fiscal Advisory Council was established on an interim basis in July 2011 and on a statutory basis in December 2012 under the Fiscal Responsibility Act 2012. The Act was...

Written Answers — Department of Finance: Property Taxation Administration (21 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 49 and 50 together. I am advised by the Revenue Commissioners that letters were issued in October 2013 to over 980,000 property owners who paid their 2013 LPT by lump sum (that is, by debit or credit card, cash, cheque, postal order or single debit authority) or by way of regular cash payments. These owners were requested to decide how they wished to pay...

Written Answers — Department of Finance: Property Taxation Collection (21 Nov 2013)

Michael Noonan: I am advised by Revenue that customers who are registered for the Revenue Online Service (ROS) were issued with both their 2013 Local Property Tax (LPT) Return and 2014 Payment Notification via their ROS inboxes. Revenue has confirmed to me that the person in question was issued with his 2014 Payment Notification on 23 October 2013 through ROS. The notification, which can still be accessed...

Written Answers — Department of Finance: Property Taxation Application (21 Nov 2013)

Michael Noonan: For Local Property Tax (LPT) purposes a residential property is defined as any building or structure (or part of a building) which is used as, or is suitable for use as, a dwelling. I am advised by the Revenue Commissioners that property owners should take account of the structure of the building; including whether the property has a roof, windows and doors, sanitary facilities, services...

Written Answers — Department of Finance: Appointments to State Boards (21 Nov 2013)

Michael Noonan: The information requested by the Deputy is contained in the following tables : The Financial Services Ombudsman Council Name of appointee/Date of appointment or reappointment Details Mr Dermott Jewell (Chairman) Members Mr Paddy Leydon Frank Wynn Ms Caitriona Ní Charra Mr Tony Kerr Mr Michael Connolly Ms Elizabeth Walsh All were appointed or re-appointed on 29...

Written Answers — Department of Finance: National Treasury Management Agency Bond Issues (21 Nov 2013)

Michael Noonan: The National Treasury Management Agency (NTMA) issued eight new Floating Rate Treasury Bonds to the Central Bank of Ireland (CBI) on 8 February 2013 to replace the Promissory Notes previously held by IBRC. The bonds have maturities ranging from 25 to 40 years and pay interest every six months – in mid-June and in mid-December – based on the six-month Euribor interest rate...