Results 16,821-16,840 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: The table below indicates the total excise duty collected from all alcohol product categories since 2008. Year Beer Cider Spirits Wine Total €m €m €m €m €m 2008 427.1 60.5 350.9 231.3 1069.8 2009 404.2 57.1 264 242.5 967.8 2010 320.1 44 243.4 218.8 826.3 2011 307.3 43.9 247.3 230.9 829.4 2012 308 42.8 263.9 231.4 846.1 2013 358 51.6 290.3...

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

Michael Noonan: I propose to take Questions Nos. 65 and 66 together. I am advised by the Revenue Commissioners that in the time available, having regard to the volume of questions received this week, Revenue are not in a position to provide the information sought. However, I will arrange for the information to be supplied directly to the Deputy.

Written Answers — Department of Finance: National Pensions Reserve Fund Portfolio (25 Sep 2014)

Michael Noonan: The most recently reported balance for cash and cash equivalents in the NPRF Discretionary Portfolio was €2,433 million as at 30 June 2014.

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

Michael Noonan: The table below sets out the total yield expected from tax measures introduced in the Budget for the years 2008 to 2014 inclusive.   Year Cost - €bn / Yield +€bn Budget 2008 -€0.7bn Budget 2009 +€2.0bn Supplementary Budget 2009 + €3.5bn Budget 2010 +€0.1bn Budget 2011 +€1.4bn Budget 2012 +€1.6bn Budget 2013...

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

Michael Noonan: I am informed by the Revenue Commissioners that on the basis of Income Tax returns and Corporation Tax returns for 2010-2012 (the latter being the latest tax year for which the necessary information is available), there is no record of any such profits or gains having been returned. There is therefore no reliable basis for estimating the impact of its elimination. The windfall gains...

Written Answers — Department of Finance: Financial Services Regulation (25 Sep 2014)

Michael Noonan: I understand the Deputy's question concerns non-traditional mortgage providers which are unregulated and which have acquired Irish mortgages. I, as Minister for Finance, am committed to bringing forward legislation that protects consumers whose mortgages are sold to unregulated entities. The Government has reiterated this commitment on several occasions. In July and August of this year, my...

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

Michael Noonan: Firstly, I must confirm to the Deputy that neither the Central Bank nor I have any responsibility for any variation in the variable mortgage interest rate charged by regulated financial instutions.  The lending institutions in Ireland - including those in which the State has a significant shareholding - are independent commercial entities. I have no statutory role in relation to...

Written Answers — Department of Finance: Universal Social Charge Exemptions (25 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 72 and 85 together. I am informed by the Revenue Commissioners that the cost of raising the Universal Social Charge (USC) threshold to €12,500, €15,000 and €16,500 respectively is set out in the following table. Proposed threshold Cost €m Numbers Benefitting Maximum Annual Saving to Taxpayer € €12,500 34 99,300...

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

Michael Noonan: I propose to take Questions Nos. 73 to 75, inclusive, 77 to 79, inclusive, and 84 together. In October 2013, I announced the setting up of a review of the various agritaxation measures. A public consultation process was undertaken and a number of stakeholder meetings were held. The review is on-going and it is hoped that a report will be made available in mid October. In relation to...

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

Michael Noonan: I propose to take Questions Nos. 76 and 82 together. It is assumed the Deputy is referring in both questions to the stamp duty consanguinity relief for non-residential property. I am advised by the Revenue Commissioners that the estimated cost to the Exchequer from extending the relief after 31 December 2014 would be in the region of €5 million.

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

Michael Noonan: I am informed by the Revenue Commissioners that many quad bikes are not manufactured for use on the roads and accordingly are not registered in the State. New quad bikes manufactured for use on the public roads are required to be registered and the application for registration must be accompanied by an appropriate Certificate of Conformity issued by the manufacturer under EU Directive...

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

Michael Noonan: I am advised by the Revenue Commissioners that the cost to the Exchequer of extending the PAYE credit to the self employed and proprietary directors is estimated at €470 million in a full year. These figures are estimates for 2015 from the Revenue tax forecasting model using the latest actual data for the year 2012, adjusted as necessary for income, self-employment and employment...

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

Michael Noonan: A relief was introduced in Finance Act 2013 on disposals of farm land for farm restructuring, subject to a Commencement Order, which I made on 6 June 2013.  The terms of the relief are set out in Section 604B, Taxes Consolidation Act 1997.     The relief applies to a sale, purchase or exchange of agricultural land in the period from 1 January 2013 to 31 December...

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

Michael Noonan: I assume that the Deputy refers to an extension of the standard rate income tax band, which would apply similarly to single and widowed persons, as well as to single person child carers. The proposed extension to the standard rate band is assumed to also apply to married couples and civil partnerships. On this basis, I am informed by the Revenue Commissioners that the full year cost to the...

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

Michael Noonan: I am informed by the Revenue Commissioners that it is assumed the Deputy is referring to an increase in excise and VAT. The estimated yield that could be raised in a full year from the proposed increases is as set out in the table below. Increase (VAT inclusive) Yield 25 cent €31.7m 50 cent €62.9m I am advised by the Commissioners that these estimates are based on the...

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

Michael Noonan: In July 2011, as part of the Government Jobs Initiative, the 9% reduced VAT rate was introduced and applied to tourism related services, including newspapers. In applying the 9% rate to newspapers, the measure was designed to create additional jobs in the print 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: Employment Investment Incentive Scheme (30 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the available information regarding the Employment and Investment Incentive (EII) is as set out in the table below for the years 2012 and 2013 (the latest years available). Year Amount Invested €m Companies Benefitting Tax Cost €m 2012 13.4 78 4 2013 41.5 186 12.4 Data in relation to the number of jobs supported should...

Written Answers — Department of Finance: Seed Capital Scheme (30 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the available information regarding the Seed Capital Scheme is as set out in the table. There are no figures available in relation to the number of jobs created. Year Amount Invested €m Cost to Exchequer €m Companies Investors 1993/94 0.5 0.2 5 8 1994/95 2.2 0.9 39 48 1995/96 2.1 0.8 39 41 1996/97 5.3 2.1 64 92 1997/98 3.9...

Written Answers — Department of Finance: Tax Reliefs Application (30 Sep 2014)

Michael Noonan: The rate of capital gains tax (CGT) is currently 33% and has been increased four times since 2008. These increases were necessary to protect the yield from CGT in the context of the rebalancing of the public finances. An increase in the taxation of capital is preferable from the point of view of its impact on the economy as compared to an increase in employment taxes such as income...

Written Answers — Department of Finance: Budget 2015 (30 Sep 2014)

Michael Noonan: The Deputy will be aware that it is not the practice of the Minister for Finance to comment in advance on matters related to the Budget. However I can advise him that the review to which he refers will be published around Budget Day. The annual filing date for self-assessed income taxpayers is currently the 31 October. Taxpayers who file their returns and also make their...