Results 17,241-17,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Excise Duties (4 Nov 2014)

Michael Noonan: I am advised by the Revenue Commissioners that in accordance with Council Directive 2008/118/EC and section 104(2) of the Finance Act 2001, tobacco products tax is not chargeable on tobacco products that are bought tax-paid by a private individual in another Member State of the European Union for personal consumption by that person in this State. The tobacco products must be for the...

Written Answers — Department of Finance: Fuel Prices (4 Nov 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the information the Deputy has requested is not readily available. However, the European Commission through the Oil Bulletin presents consumer prices and net prices (excluding duties and taxes) of petroleum products in each EU member state each week.The Oil Bulletin is updated weekly and can be accessed on the internet by visiting ....

Written Answers — Department of Finance: Credit Unions (4 Nov 2014)

Michael Noonan: On 16 December 2013, Mr Jim Luby of McStay Luby Chartered Accountants was appointed by the High Court, under the Central Bank and Credit Institutions (Resolution) Act 2011, as liquidator of Newbridge Credit Union Limited (in liquidation).  The liquidator owes a duty to the creditors of Newbridge Credit Union Limited and must account for his actions to the High Court. As...

Written Answers — Department of Finance: Tax Credits (4 Nov 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the flat rate expense allowances (FREs) for waiters and waitresses were initially agreed in the late 1950's with staff representatives from the hotel industry and were last reviewed in 1986. In general terms, FREs are granted on the basis of claims submitted in respect of specific costs incurred by specific employee groups and are not granted...

Written Answers — Department of Finance: Universal Social Charge Payments (4 Nov 2014)

Michael Noonan: As the Deputy will be aware, 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...

Written Answers — Department of Finance: VAT Exemptions (4 Nov 2014)

Michael Noonan: I would point out that schools are and always have been exempt from VAT.  Paragraph 4(3) of Schedule 1 to the VAT Consolidation Act 2010 provides an exemption from VAT for the provision of children or young people's education by establishments recognised by the State. Irish VAT law is guided by the EU VAT Directive, with which it must comply, and this provision mirrors Article 132,...

Written Answers — Department of Finance: Revenue Commissioners Resources (4 Nov 2014)

Michael Noonan: I am assured by the Revenue Commissioners that the provision of a quality customer service to taxpayers is a key corporate priority for Revenue.Revenue is committed to ensuring that their service for all customers is suitably tailored to meet demand levels and that a range of speedy and efficient contact channels for customers is available. In addition, Revenue is committed to ensuring that...

Written Answers — Department of Finance: Bank Restructuring (4 Nov 2014)

Michael Noonan: As the Deputy will be aware under the Relationship Frameworks the State does not intervene in the day to day operations of the banks or their management decisions regarding commercial matters. In the case of AIB, the bank has previously indicated that as part of its restructuring plan to reduce costs and increase efficiencies, outsourcing of certain functions would be...

Written Answers — Department of Finance: Financial Services Ombudsman (4 Nov 2014)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions and it would not be appropriate for me to comment on how he performs those duties. Under the Central Bank Act 1942, as amended, a consumer is not entitled to make a complaint to the Financial Services Ombudsman if the conduct complained of occurred more than six...

Written Answers — Department of Finance: Financial Services Ombudsman (4 Nov 2014)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the carrying out of his duties. I have no role in the day to day workings of the office or in the decision which he takes. One of the main roles of the Financial Services Ombudsman is to investigate, mediate and adjudicate complaints about the conduct of regulated financial service providers....

Written Answers — Department of Finance: Tax Code (4 Nov 2014)

Michael Noonan: The Deputy will be aware that individuals and corporations are taxed on a very different basis and that it is highly unlikely that any low or middle income earners pay more tax than large corporations. In addition to the Corporation Tax that companies pay on their profits, they also are liable for employer PRSI contributions in respect of their employees, which are charged at a much higher...

Written Answers — Department of Finance: Mortgage Applications Approvals (4 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 276 and 315 together. As the Deputies are aware, the Central Bank has commenced a public consultation process on the proposed new macro prudential rules for residential mortgage lending and any person who wishes to make a submission on these proposals can do so by emailing by December 8th next. Regarding the position of consumers who have...

Written Answers — Department of Finance: Mortgage Repayments (4 Nov 2014)

Michael Noonan: Neither I nor the Special Liquidators are able to discuss the circumstances of individuals who had accounts with IBRC and it would not be appropriate to discuss such matters through Dáil business.  The Special Liquidators retain responsibility and authority for determining the strategy, commercial policies, and for conducting the day-to-day operations of IBRC (In Special...

Written Answers — Department of Finance: Tax Code (4 Nov 2014)

Michael Noonan: The windfall tax provisions are contained in Sections 644AB and 649B Taxes Consolidation Act (TCA) 1997, introduced by Section 240 National Asset Management Agency Act 2009 and amended by Section 25 Finance Act 2010, and apply an 80% rate of tax to the windfall profits or gains from land disposals or land development where those profits or gains are attributable to a relevant planning...

Written Answers — Department of Finance: Household Charge Administration (4 Nov 2014)

Michael Noonan: I am advised by Revenue that it fully accepts that the person in question did not pay his original Household Charge (HHC) liability on foot of information that he received from the Local Government Management Agency in respect of his obligations. On that basis, as outlined by me in Question 21424/14, Revenue agreed that the person would only pay the original €100 charge rather than...

Written Answers — Department of Finance: Insurance Coverage (4 Nov 2014)

Michael Noonan: In my role as Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland, as regulator, interfere in the pricing of insurance products. The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based...

Written Answers — Department of Finance: National Pensions Reserve Fund Investments (4 Nov 2014)

Michael Noonan: The National Pensions Reserve Fund (NPRF) has advised that it has committed €44 million to the Covanta waste to energy project as part of a group of six senior debt funders.

Written Answers — Department of Finance: VAT Rate Application (4 Nov 2014)

Michael Noonan: As outlined in the response to Parliamentary Question No. 232 of 17 September 2014, defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate of 23% in compliance with EU VAT law. EU VAT law, with which Irish VAT law must comply, is strict on the application of a zero rate of VAT to goods or services. Article 110 of the EU VAT Directive law...

Written Answers — Department of Finance: Tax Data (4 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 283, 284, 286 and 287 together. I am informed by the Revenue Commissioners that the amount of Deposit Interest Retention Tax (DIRT) collected in 2011 to 2013 is available in the "Net Receipts" section of the Revenue's Statistics webpage: .  I am further informed by the Commissioners that DIRT on interest bearing deposits is declared and paid on a...

Written Answers — Department of Finance: Tax Yield (4 Nov 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the yield to date from the bank levy announced in Budget 2014 is €154.4 million (the forecast was €150 million). There are 13 financial institutions subject to the bank levy introduced in Finance (No 2) Act 2013. A further 6 financial institutions are excluded from the levy because their deposit interest retention tax payment for...