Results 16,761-16,780 of 27,019 for speaker:Michael Noonan

Order of Business (23 Sep 2014)

Michael Noonan: Normally, items of expenditure are debated when the debate occurs on the Estimates. When the Estimates debate is scheduled for individual Departments, it is either discussed here or at the finance committee.

Order of Business (23 Sep 2014)

Michael Noonan: The second Bill to which the Deputy referred is well advanced and it is expected to be published in this session. There is no date yet for publication of the national paediatric hospital development board (amendment) Bill.

Order of Business (23 Sep 2014)

Michael Noonan: The proposals in the Seanad electoral (university Members) (amendment) Bill have been discussed in the Seanad already. Effectively, the discussion was on the proposed heads of the Bill but work is advanced on it. Tentatively, it will be published next year.

Order of Business (23 Sep 2014)

Michael Noonan: There is no date for publication.

Topical Issues: Corporation Tax Regime (23 Sep 2014)

Michael Noonan: I thank the Deputy for tabling this important issue for debate because the base erosion and profit shifting, BEPS, process and international tax generally have received significant media attention recently. Due to a need for a multilateral solution to this international problem, the G20 asked the OECD to report with recommendations on how to tackle aggressive and harmful tax planning. The...

Topical Issues: Corporation Tax Regime (23 Sep 2014)

Michael Noonan: As the Deputy has said, Ireland has been doing very well with foreign direct investment. Statistics indicate that we get slightly over 3% of all foreign direct investment that goes into the European Union, which is approximately twice the proportion of European GDP represented by the Irish economy. We are in a good position. We will have to defend resolutely our right to set our own tax...

Written Answers — Department of Finance: Property Taxation Data (23 Sep 2014)

Michael Noonan: For Local Property Tax 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 informed by the Revenue Commissioners that the number of residential properties on the Local Property Tax (LPT) register is in the order of 1.95 million. Based on returns filed to date, about 1.85 milliom...

Written Answers — Department of Finance: Fuel Laundering (23 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 149, 150, 152, 154, 174 and 179 together. I am advised by the Revenue Commissioners, who are responsible for tackling fuel fraud, that they are very aware of the risks posed to the Exchequer and to consumers by all forms of fuel fraud. Revenue has made great progress in tackling the problem of diesel laundering over the past three years and now media reports...

Written Answers — Department of Finance: International Agreements (23 Sep 2014)

Michael Noonan: I understand from contact with the Deputy's office that the intended question was why Ireland voted no on the recent UN vote.  As I stated in response to Question 34804 on 17 September, 2014, Ireland recognises the importance of an appropriate international agreement regarding sovereign debt restructuring due to its significant economic, social and financial implications. In common with...

Written Answers — Department of Finance: Revenue Commissioners Enforcement Activity (23 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 153 and 180 to 182, inclusive, together. I am advised by Revenue that it only refers outstanding tax arrears cases to its enforcement agents, including Sheriffs, where there has been no realistic engagement by the defaulting taxpayer to agree mutually acceptable payment solutions. Revenue's commitment in this regard is clearly evidenced by the fact that in...

Written Answers — Department of Finance: Alcohol Pricing (23 Sep 2014)

Michael Noonan: It is not my practice to comment on what measures may or may not be introduced in advance of the Budget.

Written Answers — Department of Finance: Tax Reliefs Application (23 Sep 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that they have received a Form Rent 1 from the person concerned. However, as the form has not been fully completed it is not possible at present to process the claim. Revenue has written to the person concerned to obtain the details that were omitted from the application form. The application will be processed on receipt of these details.

Written Answers — Department of Finance: VAT Rate Application (23 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 157 and 163 together. The EU VAT Directive, with which Irish VAT legislation must comply, provides a public interest exemption for education.  This exemption is set out in paragraph 4(3) of Schedule 1 of the Value-Added Tax Consolidation Act 2010 as children's or young people's education and school or university education provided by educational...

Written Answers — Department of Finance: Money Laundering (23 Sep 2014)

Michael Noonan: The requirement to obtain and hold information on beneficial ownership stems from the provisions of the proposed 4th Anti-Money Laundering Directive which seeks to update the 3rd Directive to take account of the February 2012 revision of the international standards for anti-money requirements the recommendations of the Financial Action Task Force (FATF).  A general council agreement...

Written Answers — Department of Finance: Money Laundering (23 Sep 2014)

Michael Noonan: It should be noted that further negotiations need to take place between the EU parliament and the Council to finalise the text of the 4th Anti-Money Laundering Directive ("4AMLD"). The text as agreed by Council provides that beneficial ownership information be made available in specified circumstances.  Our position has always been in favour of greater transparancy in relation to...

Written Answers — Department of Finance: Budget Submissions (23 Sep 2014)

Michael Noonan: My Department has so far received in excess of 500 Pre-Budget Submissions from a wide range of groups and individuals. These are being considered by the relevant officials in the context of Budget and Finance Bill preparation. I can confirm that submissions on this topic have been received. However, as the Deputy will be aware, it is not the practice of the Minister for Finance to discuss...

Written Answers — Department of Finance: Universal Social Charge Application (23 Sep 2014)

Michael Noonan: The Universal Social Charge (USC) was introduced in Budget 2011 to replace the Income Levy and the 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, and the revenues collected play a vital part in meeting...

Written Answers — Department of Finance: Tax Code (23 Sep 2014)

Michael Noonan: Income tax is payable at 20% on earnings of up to €32,800 per annum for single individuals regardless of whether they are employees or self-employed. Earnings above this amount are subject to income tax at 41%. As the Deputy will be aware however, employees in the PAYE system benefit from a PAYE income tax credit worth €1,650 per annum, to which the self-assessed are not...

Written Answers — Department of Finance: National Debt (23 Sep 2014)

Michael Noonan: Interest payments on the National Debt to end August 2014 amounted to €4,829 million. The Budget 2014 consistent profile forecast interest expenditure to end August 2014 of €5,220 million. This reduction of €390 million on profile is primarily due to the December 2013 bond-buy back which resulted in lower interest expenditure in the early part of 2014, lower than...

Written Answers — Department of Finance: Property Taxation Yield (23 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that compliance data in relation to the Local Property Tax (LPT) is available broken down by city and county councils nationally and the most up to date figures for LPT collected in 2013 and 2014 were published in July 2014 on the Commissioners' website at: The Commissioners have confirmed that the 2014 LPT Exchequer receipts to 31 August 2014 are...