Results 16,801-16,820 of 27,019 for speaker:Michael Noonan

Seanad: Adjournment Matters: VAT Rate Application (23 Sep 2014)

Michael Noonan: I thank the Senator for raising the issue. I am pleased to take the opportunity to speak on the issue of the VAT rate applicable to Irish dancing lessons and dance lessons in general. The EU VAT directive, with which Irish legislation must comply, provides that the supply of services and goods should be subject to the standard VAT rate which in Ireland is 23%, unless specific provision is...

Seanad: Adjournment Matters: VAT Rate Application (23 Sep 2014)

Michael Noonan: I draw the Senator's attention to a leaflet issued by the Revenue Commissioners on education, which will be exempt from VAT. The people who spoke to him may be able to work on this. The Revenue Commissioners' leaflet on education sets out that, as a general rule, in order to qualify for the educational VAT exemption, a dance course must satisfy the criteria that it be provided in a...

Written Answers — Department of Finance: Pensions Levy Yield (24 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that receipts to date from the 0.6% Stamp Duty levy on pension fund assets, introduced in the Finance (No. 2) Act 2011, amounted to €463 million in 2011, €483 million in 2012 and €535 million in 2013. The deadline date for payment of the levy this year is tomorrow, 25 September 2014.

Written Answers — Department of Finance: Sovereign Debt (24 Sep 2014)

Michael Noonan: As I stated in response to recent similar questions on this issue, 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 other EU Member States, Ireland was unable to support the recent UN resolution on a multilateral legal framework for sovereign...

Written Answers — Department of Finance: Fuel Laundering (24 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 56, 57 and 62 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 indicate the...

Written Answers — Department of Finance: VAT Rate Application (24 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 58 and 69 together. The 9% reduced VAT rate for tourism related services was introduced in July 2011 as part of the Government Jobs Initiative. The measure was designed to boost tourism and create additional jobs in that sector.  It is not the practice to comment on what measures may or may not be introduced in advance of the Budget.

Written Answers — Department of Finance: Fiscal Policy (24 Sep 2014)

Michael Noonan: Based on the latest macroeconomic and fiscal data, it is now expected that a deficit of less than 3% of GDP can be achieved without further tax increases or expenditure cuts over and above what has already been outlined.  This is primarily as a result of the better than expected tax take and improving economic outlook. However, I would make the point that these estimates are subject...

Written Answers — Department of Finance: Insurance Industry (24 Sep 2014)

Michael Noonan: MIBI obtained a legal opinion and, having considered it, advised the Minister for Transport, Tourism and Sport in late July that the 2009 agreement with him does not require the MIBI to satisfy awards against drivers covered by a policy of insurance where the insurer is unable to pay all or part of an award because of insolvency.  Jointly with the Minister for Transport, Tourism...

Written Answers — Department of Finance: VAT Exemptions (24 Sep 2014)

Michael Noonan: The supply of water by local authorities and Irish Water is exempt from VAT. This VAT exemptions applies to all supplies of water, including supplies to domestic households, businesses and others. Ireland's long standing VAT exemption for the supply of water is contained in paragraph 14(2) of Schedule 1 to the VAT Consolidation Act 2010.  As you are aware, the exemption is based on a...

Written Answers — Department of Finance: Tax Yield (24 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that figures in respect of the cost to the Exchequer of tax relief for medical insurance premiums, allowed through the tax relief at source (TRS) system for the period January to August 2013, prior to the introduction of the tax relief ceiling in October 2013, and the estimated costs for the same period in 2014 are set out in the...

Written Answers — Department of Finance: Tax Yield (24 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the details on payments of VAT are not recorded in such a manner as would provide a basis for compiling the information sought by the Deputy.

Written Answers — Department of Finance: Budget Submissions (24 Sep 2014)

Michael Noonan: The graduate entry programme provides undergraduate medical education of four years duration and has been developed to produce medical graduates with the ability to successfully undertake an internship and thereafter to gain full registration with the Medical Council. The programme is supported by a combination of student fees, State funding and other income.   While in this...

Written Answers — Department of Finance: Ministerial Adviser Appointments (24 Sep 2014)

Michael Noonan: The role of a Special Adviser as outlined in the Public Service Management Act, 1997 is to provide advice and monitor, facilitate and secure the achievement of Government objectives. The appliable payscale agreed with the Department of Public Expenditure and Reform is the Principal Standard payscale.

Written Answers — Department of Finance: Vehicle Registration (24 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the requirement to register a vehicle is provided for in Part II, Chapter IV of the Finance Act 1992.  Section 131(4) of this legislation provides that unregistered vehicles may only be held by authorised persons (usually motor dealers) or where the vehicle is the subject of an exemption.  Section 139 of the legislation provides for a...

Seanad: Betting (Amendment) Bill 2013: Second Stage (24 Sep 2014)

Michael Noonan: The Betting (Amendment) Bill 2013 is designed to provide a regulatory system for remote bookmakers and betting intermediaries, otherwise known as betting exchanges, offering betting services in Ireland, regardless of their location. In addition, it provides for fair and equal treatment of all bookmakers, traditional and remote, and betting exchanges offering services in Ireland. Provision...

Seanad: Betting (Amendment) Bill 2013: Second Stage (24 Sep 2014)

Michael Noonan: We will dance with anyone.

Written Answers — Department of Finance: Insurance Industry (25 Sep 2014)

Michael Noonan: MIBI obtained a legal opinion and, having considered it, advised the Minister for Transport, Tourism and Sport in late July that the 2009 agreement with him does not require the MIBI to satisfy awards against drivers covered by a policy of insurance where the insurer is unable to pay all or part of an award because of insolvency.  Jointly with the Minister for Transport, Tourism...

Written Answers — Department of Finance: VAT Rate Application (25 Sep 2014)

Michael Noonan: Section 37(1) of the Value-Added Tax Consolidation Act 2010 provides that the amount on which VAT is chargeable is the total consideration which the person supplying the goods or services becomes entitled to receive in respect of that supply, "including all taxes, commissions, costs and charges whatsoever", but not including the VAT itself.  This reflects EU VAT law, with which Irish tax...

Written Answers — Department of Finance: Tax Reliefs Cost (25 Sep 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated full year cost to the Exchequer from increasing the threshold for Capital Acquisitions Tax Category A from the current €225,000 to €250,000 is €12 million and from €225,000 to €275,000 is €24 million.

Written Answers — Department of Finance: Tax Yield (25 Sep 2014)

Michael Noonan: There is no simple answer with regard to the impact of different growth rates on tax revenue as the exact impact would depend on the composition of growth. For example, growth driven by exports does not have as significant an impact on the public finances as domestically driven growth. A general rule of thumb, assuming no change in tax policy, every increase of 1 percentage point of...