Results 13,481-13,500 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Revenue Commissioners Resources (3 Dec 2013)

Michael Noonan: I am advised by the Revenue Commissioners that they already have a dedicated phone service in place for Oireachtas members (01 – 674 8102) who have any tax related queries. In addition, the Revenue Commissioners operate a large number of contact channels, including low cost phone numbers (1890) for some of their most popular services, as well as numerous electronic mailboxes for those...

Written Answers — Department of Finance: VAT Rate Application (3 Dec 2013)

Michael Noonan: The VAT rating of goods and services is constrained by the requirements of EU VAT law with which Irish VAT law must comply. Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate of 23%. Parts or accessories and training are also liable to VAT at the standard rate. However, training provided in a work setting, for example for the purposes of health...

Written Answers — Department of Finance: Financial Services Regulation (3 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 54 and 55 together. Ensuring that Irish regulated banks are adequately providing for loan losses in their books of account is the responsibility of the Governor of the Central Bank and I have full confidence in his ability to fulfil that role. As regards the comments attributed to the debate in the House of Commons Parliamentary Commission, and referred...

Written Answers — Department of Finance: Financial Services Sector (3 Dec 2013)

Michael Noonan: KBC released their third quarter financial performance statement and report on 14 November. In this report, KBC stated that, in light of a paper by the European Banking Association on forbearance and non-performing loans as well as the upcoming asset quality review in 2014, they are reassessing their Irish loan book and expect to add additional provisions due to the reclassification of...

Written Answers — Department of Finance: Financial Services Regulation (3 Dec 2013)

Michael Noonan: The Financial Services (Deposit Guarantee Scheme) Act 2009 provides for the operation of the Deposit Protection Account (DPA). Credit Institutions are required to maintain a balance in the DPA equivalent to 0.2% of their total deposits (subject to a minimum of €50,000 for each bank or building society). The Central Bank of Ireland is responsible for the operation of the Deposit...

Written Answers — Department of Finance: Financial Services Regulation (3 Dec 2013)

Michael Noonan: The CRD IV legislative package is made up of the Capital Requirements Directive - 2013/36/EU and the Capital Requirements Regulation 575/2013. The Capital Requirements Directive will be transposed into Irish law by 31 December 2013. The Capital Requirements Regulation is directly effective in Irish law and will come into force on 1 January 2014. CRD IV is the EU implementation of the...

Written Answers — Department of Finance: Pensions Levy Issues (3 Dec 2013)

Michael Noonan: I announced in my Budget 2014 speech 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% to, among other things, continue to help fund the Jobs Initiative. The additional levy, within the existing legal framework, will apply to pension fund assets...

Written Answers — Department of Finance: Tax Yield (3 Dec 2013)

Michael Noonan: I am advised by the Revenue Commissioners that, on the basis of the incomes table supplied, the conclusions referred to by the Deputy are arithmetically correct. The table contains a distribution of incomes and income tax by reference to ranges of income for the income tax year 2013 which was provided in my reply of 30 April 2013 to Parliamentary Question Number 151 (Reference number...

Written Answers — Department of Finance: Departmental Expenditure (3 Dec 2013)

Michael Noonan: In my Department, no official has received the cost of club membership fees as part of their contract of employment.

Written Answers — Department of Finance: Departmental Expenditure (3 Dec 2013)

Michael Noonan: The Department of Finance continues to invest in staff development in order to supplement the skills and qualifications of our teams through a combination of internal and external training and development initiatives. Under the revised Statement of Strategy 2011-2014, the Department aims to improve training in order to develop greater technical, management and leadership skills. Using the...

Written Answers — Department of Finance: Property Taxation Administration (3 Dec 2013)

Michael Noonan: I am advised by Revenue that a key aspect of the work undertaken in connection with the administration of Local Property Tax (LPT) was the development of a register of residential properties in the State. The process involved consolidating property address data, which was extracted from various Government and non-Government sources, in respect of almost two million records. In some instances...

Written Answers — Department of Finance: Property Taxation Collection (3 Dec 2013)

Michael Noonan: Part 10 of the Finance (Local Property Tax) Act 2012 (as amended) provides for payment of the Local Property Tax (LPT) by deduction at source from certain payments made by the Department of Social Protection. I am advised by the Revenue Commissioners that the legislative provisions concerning deduction of LPT from certain Department of Social Protection payments were drafted in...

Written Answers — Department of Finance: Credit Unions Regulation (3 Dec 2013)

Michael Noonan: I have been informed by the Central Bank that it does not store the specific information requested by the Deputy. However, I have been informed that staff employed in the Registry of Credit Unions, which is responsible for overseeing credit unions, have a range of backgrounds including accounting, economics, legal and compliance. The Registry of Credit Unions ensures on appointment, that all...

Written Answers — Department of Finance: Credit Unions Regulation (3 Dec 2013)

Michael Noonan: The imposition of lending restrictions is the responsibility of the Registrar of Credit Unions - RCU - who is the independent regulator for credit unions at the Central Bank. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. I have...

Written Answers — Department of Finance: Tax Collection (3 Dec 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that they are of the view that the correct amount of tax is being deducted from the person concerned. Records indicate that the spouse of the person concerned is in receipt of taxable income from the Department of Social Protection. The tax credit has been reduced to take account of this taxable income.

Written Answers — Department of Finance: Property Taxation Application (3 Dec 2013)

Michael Noonan: Insufficient detail has been provided to enable me to comment on the specific case but the following general information is relevant. 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 is 1...

Written Answers — Department of Finance: Property Taxation Administration (3 Dec 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the Local Property Tax (LPT) helpline 1890 200 255 number is a low cost phone service and is not a premium rate number. The charge for this service is based on local rates and the cost of the call is shared between the calling party and the called party. The Commissioners use 1890 “LoCall” numbers for some of their most popular...

Written Answers — Department of Finance: Tax Yield (3 Dec 2013)

Michael Noonan: I am informed by the Revenue Commissioners that Stamp Duty is charged at €2.50 per year per debit only card, €2.50 per year per ATM only card and €5 per combined (ATM and debit) card. In 2012, the yield from Stamp Duty on debit only cards was c. €30,000, the duty on ATM only cards yielded €1m, while the duty on combined ATM and debit cards yielded...

Written Answers — Department of Finance: Tax Reliefs Availability (3 Dec 2013)

Michael Noonan: As the Deputy is aware, there is a suite of measures currently in place to support parents with young families. I have no plans to introduce any further tax reliefs for those who adopt children. As adoption legislation is a matter for the Minister for Children and Youth Affairs, the Deputy may wish to direct his questions to that Minister.

Written Answers — Department of Finance: Property Taxation Administration (3 Dec 2013)

Michael Noonan: I am advised by Revenue that a key aspect of the work undertaken in connection with the administration of Local Property Tax (LPT) was the development of a register of residential properties in the State. The process involved consolidating property address data, which was extracted from various Government and non-Government sources, in respect of almost two million records. In some...