Results 15,341-15,360 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Living City Initiative (30 Apr 2014)

Michael Noonan: Officials from my Department have held preliminary discussions with the relevant local authorities to identify the areas of the six cities, Cork, Dublin, Galway, Kilkenny, Limerick and Waterford, which might fall within the scope of the scheme. Each of the local authorities have now submitted proposals on the areas which they believe should be...

Written Answers — Department of Finance: Mortgage Schemes (30 Apr 2014)

Michael Noonan: As the Deputy will appreciate, mortgage lending decisions must be undertaken on a sustainable and prudential basis by financial institutions and must conform fully with the regulatory requirements, both in relation to the financial institution itself, and in particular to the safeguarding of the borrower's interests. This includes ensuring that the affordability of the mortgage is assessed....

Written Answers — Department of Finance: Property Taxation Collection (30 Apr 2014)

Michael Noonan: The Local Government (Household Charge) Act 2011 governs the administration of the 2012 Household Charge and provides for certain exemptions and waivers from the charge. The Deputy may be aware that the Household Charge legislation does not provide for an exemption on the basis of significant pyrite damage. In my reply to Questions 103 (31775/13) and 112 (31776/13) on 2 July 2013, I informed...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (30 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that Section 92 of the Finance Act 1989 and the Disabled Drivers and Disabled Passengers (Tax concessions) Regulations, 1994 (S.I. 353 of 1994) provide for relief from the payment of Excise Duty on specified quantities of fuel used for transporting persons registered under the scheme. On 18 March 2014, the person (details supplied) submitted an...

Written Answers — Department of Finance: Vehicle Registration Issues (30 Apr 2014)

Michael Noonan: I propose to take Questions Nos. 123 and 124 together. I am advised by the Revenue Commissioners that temporary exemption from the payment of Vehicle Registration Tax (VRT) is provided for under S. 135 of the Finance Act 1992, as amended. Subject to certain conditions, restrictions and limitations, a qualifying vehicle, i.e. a vehicle which is validly registered outside the State, may be...

Written Answers — Department of Finance: Property Taxation Collection (30 Apr 2014)

Michael Noonan: I am advised by Revenue that Section 156 of the Finance (Local Property Tax) Act 2012 converted any arrears of Household Charge (HHC) that was still outstanding on 1 July 2013 to a Local Property Tax (LPT) liability of €200 per property and made Revenue responsible for collecting the tax. On assuming responsibility for the collection of HHC, Revenue received the Register from the...

Written Answers — Department of Finance: Property Taxation Collection (30 Apr 2014)

Michael Noonan: I am advised by Revenue that Section 156 of the Finance (Local Property Tax) Act 2012 converted any arrears of Household Charge (HHC) that was still outstanding on 1 July 2013 to a Local Property Tax (LPT) liability of €200 per property and made Revenue responsible for collecting the tax. On assuming responsibility for the collection of HHC, Revenue received the Register from the...

Written Answers — Department of Finance: VAT Rate Application (30 Apr 2014)

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. There is no provision in the EU VAT Directive that would make it possible to exempt...

Written Answers — Department of Finance: Insurance Industry (1 May 2014)

Michael Noonan: I propose to take Questions Nos. 36 and 37 together. The provision of motor insurance cover is a commercial matter for insurance companies, which is based on a proper assessment of the risks they are accepting and the making of adequate provisioning to meet these risks. In my role as the Minister for Finance I have responsibility for the development of the legal framework governing financial...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Eligibility (1 May 2014)

Michael Noonan: As the Deputy is aware, I announced the Home Renovation Incentive in the recent Budget. When I announced the incentive on Budget night, the scheme was due to run from 1 January 2014 to 31 December 2015. However, upon further consideration I decided to bring the start date of the scheme forward to 25 October 2013.  This scheme provides for tax relief for homeowners by way of a tax...

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

Michael Noonan: I understand that the Special Liquidators have set aside a sum of €5.5 million to facilitate the termination payments recommended by Mr. Kieran Mulvey of the Labour Relations Commission. I am advised that under the recommendation the majority of staff who were employed by IBRC on 7 February 2013 and who remained in employment until their contracts of employment were terminated by the...

Written Answers — Department of Finance: Insurance Industry (1 May 2014)

Michael Noonan: I propose to take Questions Nos. 40 and 45 together. Setanta Insurance Company Limited ("Setanta") is a Maltese incorporated company which was both authorised and prudentially supervised by the Malta Financial Services Authority (MFSA). Setanta was regulated at EU regulatory level in accordance with a directive known as Solvency I which currently places requirements on the amount of...

Written Answers — Department of Finance: Tax Code (1 May 2014)

Michael Noonan: The USC was introduced in Budget 2011 to replace the Income Levy and Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit. It is a more sustainable charge than those it replaced.  It is applied at a low rate on a wide base.  As you are aware, delivering on a commitment in the Programme for Government,...

Written Answers — Department of Finance: Property Taxation Collection (1 May 2014)

Michael Noonan: I am advised by Revenue that Section 156 of the Finance (Local Property Tax) Act 2012 converted any arrears of Household Charge (HHC) that was still outstanding on 1 July 2013 to a Local Property Tax (LPT) liability of €200 per property and made Revenue responsible for collecting the tax. As part of its communications strategy for HHC, Revenue advised property owners that any arrears...

Written Answers — Department of Finance: Property Taxation Exemptions (1 May 2014)

Michael Noonan: I propose to take Questions Nos. 43 and 44 together. I am advised by Revenue that the Finance (Local Property Tax) Act 2012 (as amended) makes provision for a number of exemptions from Local Property Tax (LPT). Section 10 of the Act provides for an exemption from LPT for residential properties in unfinished housing estates, providing those estates have been prescribed as unfinished by my...

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

Michael Noonan: I can confirm for the Deputy that I have received the following comments from the banks in relation to his question: Allied Irish Banks: AIB's underwriting criteria is based on the repayment capacity of the borrower. As a general rule, personal loans to individuals are not made on a non-recourse basis. Where non-recourse lending occurs (typically on higher value transactions) an...

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

Michael Noonan: I assume the Deputy is referring to single farm payment entitlements. There are potential tax implications arising from the disposal of such entitlements, mainly capital gains tax (CGT) and VAT. 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...

Written Answers — Department of Finance: Tax Credits (1 May 2014)

Michael Noonan: I am advised by the Revenue Commissioners in relation to the first person named, that they have written to the person concerned for the information necessary to establish his tax credit entitlement. A PAYE Balancing statement (P21) will be issued when position is clarified. In relation to the second person referred to by the Deputy, Revenue records indicate that the person concerned is...

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

Michael Noonan: I am advised that Section 1006A TCA 1997 provides that where a taxpayer is due a refund of tax, Revenue can offset the amount owed or part of the amount owed to any other tax liability that the person may have. I am further advised that before Revenue processes any refund of tax, all of the taxheads that the person is registered for are examined to ensure there are no debts outstanding....

Written Answers — Department of Finance: Tax Code (1 May 2014)

Michael Noonan: I assume the Deputy is referring to the possibility of applying consumer price subsidies to healthy and nutritious foods to incentivise the consumption of those foods. In this regard, I would point out that as Minister of Finance I do not have a role in providing price subsidies to food products.  However, I do have responsible for taxation policy and the Deputy may be aware...