Results 17,101-17,120 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Revenue Commissioners Audits (14 Oct 2014)

Michael Noonan: I am advised by the Revenue Commissioners that Income Tax returns for the person (details supplied) for the years 2007, 2008 and 2010 were submitted together on 15thNovember 2012.  Accordingly, all three returns were substantially late (for example, the 2007 return was submitted more than four years after the due date).  Consequently, surcharges totalling €7,072.82 were...

Written Answers — Department of Finance: Mortgage Interest Rates (14 Oct 2014)

Michael Noonan: The Government is acutely aware of the increasing financial stress that some households are facing in the current environment and has numerous policies designed to tackle and alleviate these difficulties. However neither the Central Bank nor the Department of Finance has a statutory function in relation to interest rate decisions made by individual lending institutions at any...

Written Answers — Department of Finance: Property Taxation Deferrals (14 Oct 2014)

Michael Noonan: I previously set out the criterion required to qualify for deferral of Local Property Tax (LPT) for the Deputy in my reply to Question 37827/14. By way of reminder to the Deputy, Sections 132 and 133 of the Finance (Local Property Tax) Act 2012 (as amended) provides for a system of deferral arrangements for residential property owners/occupiers based on certain income thresholds. Normally, a...

Written Answers — Department of Finance: Tax Reliefs Availability (14 Oct 2014)

Michael Noonan: The Government decided that a liability to the Local Property Tax (LPT) should apply to all owners of residential property with a limited number of exemptions.  Limiting the exemptions available allows the rate to be kept low for those liable persons who do not qualify for an exemption. A requirement to pay management fees is not relevant in determining liability to the LPT. Generally,...

Written Answers — Department of Finance: Appointments to State Boards (14 Oct 2014)

Michael Noonan: The information requested is set out in the following table. Name Date Appointed Recommended Credentials Publicly Advertised Comments Credit Union Restructuring Board (ReBo) - - - - - Mr  Robert (Bobby) McVeighChairman All members appointed to the board of ReBo with effect from 31 August 2012. Appointed by the Minister for Finance following advertisement on www.publicjobs.ie...

Written Answers — Department of Finance: Financial Services Regulation (15 Oct 2014)

Michael Noonan: For the purposes of this reply I understand "financial broker" to mean a retail intermediary who receives and transmits orders in certain financial products and/or provides advice in relation to those products and is authorised by Central Bank as one of the following: - an insurance/reinsurance intermediary under the European Communities Insurance Mediation Regulations 2005, - an...

Written Answers — Department of Finance: Property Taxation Rate (15 Oct 2014)

Michael Noonan: I am advised by the Revenue Commissioners that section 20 of the Finance (Local Property Tax) Act 2012 (as amended) allows a local authority to increase or decrease the basic rate of local property tax (LPT) by up to 15% in respect of residential properties situated within their administrative area. The LPT legislation requires the local authority to specify the period for which the...

Written Answers — Department of Finance: Revenue Commissioners Resources (15 Oct 2014)

Michael Noonan: I am advised by the Revenue Commissioners that in 2011 Revenue's Comprehensive Review of Expenditure noted that there is a significant deterrent and voluntary compliance effect on behaviour of an effective, risk based compliance programme and that by increasing audit, investigation and compliance resources by c.125 staff, at an estimated cost of €6.5m per annum, an additional exchequer...

Written Answers — Department of Finance: Tax Code (15 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 18, 19 and 21 together. I am advised by the Revenue Commissioners that it is not possible to apply different Income Tax rates or bands for PAYE sources of income alone. All relevant sources of income are treated equally for Income Tax purposes. If the Deputy is interested in the effect of changes in Income Tax rates and bands more generally, the...

Written Answers — Department of Finance: VAT Rate Reductions (15 Oct 2014)

Michael Noonan: Decreasing the higher rate of VAT from 23% to 22% would cost the Exchequer €271 million in a full year, while a decrease from 23% to 21% would cost €542 million.  Decreasing the 13.5% rate of VAT to 12.5% would cost the Exchequer €246 million in a full year.

Written Answers — Department of Finance: European Investment Bank Loans (15 Oct 2014)

Michael Noonan: The EIB is the long-term financing institution of the European Union. Its mission is to help implement the EU's policy objectives by financing sound business projects. To finance these projects, the Bank borrows on the capital markets, passing on the benefit of its low borrowing cost to Member States due to its high credit rating. I am aware that the EIB and the University of...

Written Answers — Department of Finance: Departmental Staff Remuneration (15 Oct 2014)

Michael Noonan: No performance related bonus pay has been paid to any staff member of my Department during the period 2011 to date in 2014.

Written Answers — Department of Finance: Corporate Tax Compliance (15 Oct 2014)

Michael Noonan: I welcome the OECD's base erosion and profit shifting (BEPS) project as a very important multilateral step towards aligning taxing rights with substance and addressing double non-taxation. The seven reports released on the 16th of September represent the first milestone in this two year process. Ireland has been, and will continue to be, actively involved in the working groups on all 15...

Written Answers — Department of Finance: Financial Services Regulation (15 Oct 2014)

Michael Noonan: I am advised by Permanent TSB that this case had previously been investigated by the Bank and had been referred to and adjudicated by the Financial Services Ombudsman (FSO) in November 2013, under case 13/74414.  The FSO did not uphold the case and as the Deputy may be aware, under the Relationship Framework the State does not intervene in the day to day operations of the bank or their...

European Stability Mechanism (Amendment) Bill 2014: Order for Report Stage (16 Oct 2014)

Michael Noonan: I move: "That Report Stage be taken now."

European Stability Mechanism (Amendment) Bill 2014: Report Stage (16 Oct 2014)

Michael Noonan: I welcome Deputy Paul Murphy to the House. I do not know whether he has contributed already, but I was interested in his remarks this morning. I hope during his time here he will have the job satisfaction necessary for all Deputies to keep up their morale. I do not propose to accept the amendment tabled by Deputy Doherty. It bears a very strong resemblance to one he tabled on Committee...

European Stability Mechanism (Amendment) Bill 2014: Report Stage (16 Oct 2014)

Michael Noonan: I thank the Deputies for their contributions. I remind Deputy Doherty that I acknowledged the statistical correction by the CSO on GDP figures at least twice when I spoke on the budget on Tuesday. I spoke about the contribution that correction made to reducing our debt to GDP ratio. The Deputy is exaggerating when he attributes the correction to criminal activities in the economy. The...

Written Answers — Department of Finance: Water Charges Exemptions (16 Oct 2014)

Michael Noonan: I am advised by the Revenue Commissioners that while there is no specific exemption from Local Property Tax (LPT) for a household that cares full time for one or more disabled persons, a residential property occupied by an individual who is disabled may qualify for a reduction in the market value of the property for LPT purposes. Additionally, where a residential property is occupied by an...

Written Answers — Department of Finance: Property Taxation Rate (16 Oct 2014)

Michael Noonan: The Government decided that a liability to the Local Property Tax (LPT) should apply to all owners of residential property with a limited number of exemptions.  Limiting the exemptions available allows the rate to be kept low for those liable persons who do not qualify for an exemption. A requirement to pay management fees is not relevant in determining liability to the LPT. ...

Written Answers — Department of Finance: Licensed Moneylenders (16 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 61 and 80 together. Under the current legislative requirements, moneylenders must provide a schedule of repayments both prior to and during the credit agreement. Each licensed moneylender is also required to display a copy of its licence in its business premises. The licence contains a schedule of each product which the moneylender is entitled to offer,...