Results 14,861-14,880 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Portfolio (1 Apr 2014)

Michael Noonan: This matter was comprehensively addressed in my responses to the Deputy's recent Parliamentary Questions (PQ), including in response to PQs 209 - 213 and 257 which were answered on 25th March 2014, and by my colleague Minister Bruton in the Oireachtas on Tuesday 11th March 2014. NAMA is subject to similar legal requirements as other lenders that preclude it from...

Written Answers — Department of Finance: Pension Provisions (1 Apr 2014)

Michael Noonan: I am informed by the Revenue Commissioners that it is not possible to give a reply to the actual case based on the information supplied by the Deputy, but if the Deputy wishes to write to Revenue with further details a comprehensive response will be provided.   However on the general point of eligibility the Revenue Commissioners have advised me that to transfer an Approved Minimum...

Written Answers — Department of Finance: Tax Reliefs Availability (1 Apr 2014)

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

Written Answers — Department of Finance: Property Taxation Deferrals (1 Apr 2014)

Michael Noonan: I am informed by Revenue that Part 12 of the Finance (Local Property Tax) Act 2012 (as amended) provides for a system of either full or partial deferral arrangements where there is an inability to pay Local Property Tax (LPT).  However, the deferral has to be claimed.   From the information available to Revenue, it appears that the person in question is entitled to a full...

Written Answers — Department of Finance: Tax Exemptions (1 Apr 2014)

Michael Noonan: I assume the Deputy is referring to single farm payment entitlements. A single farm payment entitlement is a chargeable asset for capital gains tax (CGT) purposes and once acquired it may be disposed of by way of sale, gift etc. Accordingly, gains arising from the disposal of single farm payment entitlements are chargeable to CGT in the same way as gains made on any other chargeable assets....

Written Answers — Department of Finance: Tax Rebates (1 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the person in question visited the Revenue Office in Kilkenny on 18th March 2014 and submitted a form  P60 for the 2013 tax year. The person's liability for 2013 has now been reviewed and an overpayment of USC in the sum of €48.66 arises. A PAYE Balancing Statement, Form P 21 and repayment will issue to the person...

Written Answers — Department of Finance: VAT Exemptions (1 Apr 2014)

Michael Noonan: Certain persons engaged in water rescue can apply for a VAT refund on the purchase of vessels and ancillary related equipment for the purposes of search and rescue at sea, inshore or on inland waterways. A similar provision is not available for persons providing mountain rescue services. VAT law is governed by the EU VAT Directive, with which Irish VAT law must comply.  The EU VAT...

Written Answers — Department of Finance: VAT Rate Reductions (1 Apr 2014)

Michael Noonan: The VAT treatment of goods and services is governed by EU law with which Irish VAT law must comply. While the EU VAT Directive provides that a reduced VAT rate may be applied in certain circumstances and on certain goods and services, this does not apply in the case of telecommunication services.  The VAT Directive provides that the supply of telecom services must apply at the standard...

Written Answers — Department of Finance: Insurance Levy (1 Apr 2014)

Michael Noonan: The levy to which the Deputy refers is the Insurance Compensation Fund (ICF) levy of 2% being applied to home, motor and commercial insurance.  The levy operates under the Insurance Act 1964 and came into effect from 1 January 2012, following the appointment of administrators to Quinn Insurance Ltd (QIL) by the High Court. The total amount raised is as follows: Year Total...

Written Answers — Department of Finance: Banking Sector (1 Apr 2014)

Michael Noonan: As the Deputy is aware, KBC bank has recently availed of the customer mobility measures included in the Bank of Ireland Restructuring Plan as agreed with the European Commission. This is the first, and to date the single, instance of an institution availing of these measures. The Deputy will appreciate that the purpose of these measures is to enhance...

Written Answers — Department of Finance: Mortgage Interest Relief Eligibility (1 Apr 2014)

Michael Noonan: In the Supplementary Budget of 2009, with effect from 1 May 2009, the number of years in respect of which mortgage interest relief (MIR) may be claimed was restricted to 7. The relevant provisions were included in Section 244 of the Taxes Consolidation Act 1997 via Finance Act 2009. With regard to the specific case to which the Deputy refers, the person in question commenced her...

Written Answers — Department of Finance: Mortgage Interest Relief Expenditure (1 Apr 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the provisional cost to the Exchequer of mortgage interest relief for principal private residences by way of tax relief at source in 2013 is €353 million. The estimate for 2014 is €350 million. The cost of the relief going forward for the 2015, 2016 and 2017 tax years would depend on a variety of factors, including the...

Written Answers — Department of Finance: Pension Provisions (1 Apr 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the total tax expenditure in respect of pension contributions for 2010 and 2011, the latest year for which data is available, is estimated to be in the region of €1,500 million in each year. These costs include the costs associated with employee and employer contributions to approved superannuation schemes, exemption of employers...

Written Answers — Department of Finance: Tax Yield (1 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that while social welfare pensions can be separately identified from other sources of income in Revenue statistics, it is not possible to do so in respect of income from other pensions with any degree of certainty. Consequently there is no complete or reliable basis available to Revenue on which an estimate of the income tax receipts on pensions could...

Written Answers — Department of Finance: Property Taxation Administration (1 Apr 2014)

Michael Noonan: I am informed by the Revenue Commissioners that compliance data in relation to LPT for 2013 and 2014 was published on 18 February 2014 on the Commissioners website at: . The report includes details of the number of properties that filed a Return for 2013 and the amount of LPT collected for 2013 by city and county council. The report also provides a breakdown of the percentage distribution of...

Written Answers — Department of Finance: IBRC Liquidation (1 Apr 2014)

Michael Noonan: I have been advised that the Special Liquidators will comply with their reporting obligations and as such the liquidation accounts will be filed with the Companies Registration Office after two years of the liquidation and yearly thereafter. These accounts will detail the fees payable to all consultants employed by the Special Liquidators during the liquidation, including KPMG,...

Written Answers — Department of Finance: IBRC Staff (1 Apr 2014)

Michael Noonan: The Special Liquidators confirm that on the date of Special Liquidation there were a total of 805 employees employed by IBRC in the Republic of Ireland. Of these 545 employees have received Statutory Redundancy at a total cost of €5,360,926.31 and 260 employees had less than 2 years service and were therefore not eligible for redundancy payments. I am advised by the...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (1 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that they have not received an application from the person (details supplied) for admission to the Drivers & Passengers with Disabilities Scheme.  This was confirmed following a telephone call to the person. It would appear that the person was refused a Primary Medical Certificate by the local Chief Medical Officer (HSE) which is an...

Written Answers — Department of Finance: Banking Sector (1 Apr 2014)

Michael Noonan: A way forward for Permanent TSB was agreed with the Troika in April 2012 which envisaged it playing an important role in the future of Irish retail banking, being a more focused retail bank bringing an element of competition to the marketplace which has consolidated significantly since 2008.  In this regard Permanent TSB prepared a Restructuring Plan, which the Department of...

Written Answers — Department of Finance: Mortgage Interest Relief Eligibility (1 Apr 2014)

Michael Noonan: I am advised by Revenue that it administers mortgage interest relief (MIR) in respect of qualifying loans through the tax relief at source (TRS) system. I am further advised that the amounts due are paid via the relevant lending institutions. In the case to which the Deputy refers, I am informed that in 2007 Revenue received notification from the persons' lender that all qualifying...