Results 18,021-18,040 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Eligibility (9 Dec 2014)

Michael Noonan: I am informed by the Revenue Commissioners that in applying the agricultural relief provisions of Section 89 of the Capital Acquisitions Tax Consolidation Act 2003 (including that provision as currently being amended in Finance Bill 2014)  a farmer who has off-farm employment will not be refused  relief if he or she is either: - A farmer with an agricultural qualification or ...

Written Answers — Department of Finance: Living City Initiative (9 Dec 2014)

Michael Noonan: Officials from my Department have held preliminary discussions with the relevant local authorities to identify the areas of the six cities, Cork, Dublin, Galway, Kilkenny, Limerick and Waterford, which might fall within the scope of the scheme. Each of the local authorities have now submitted proposals on the areas which they believe should be...

Written Answers — Department of Finance: Tax Rebates (9 Dec 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the person (details supplied) did not receive a tax refund in 2003 but the refund in question may relate to a repayment of tax which she received in September 2006 in respect of the year 2005.   A repayment of €7,740 issued to the person in September 2006, based on information which she supplied to Revenue.  It was subsequently...

Written Answers — Department of Finance: Mortgage Lending (9 Dec 2014)

Michael Noonan: Credit decisions are commercial matters for individual financial institutions. However, the Deputy should note that the Central Bank of Ireland's Consumer Protection Code 2012 (CPC) contains important protections for the consumers of financial services (including borrowers), by imposing 'Knowing the Consumer and Suitability' requirements on regulated financial institutions.  In...

Written Answers — Department of Finance: Fuel Laundering (9 Dec 2014)

Michael Noonan: I am informed by the State Laboratory that petrol consists of a range of different hydrocarbons and other components and must comply with certain physical and chemical specifications such as density, distillation characteristics and other fuel quality parameters.  The State Laboratory does not use just one test to establish whether a petrol sample meets the required specifications...

Written Answers — Department of Finance: European Stability Mechanism (9 Dec 2014)

Michael Noonan: The ESM Treaty entered into force on 27 September 2012, in accordance with Article 48.1 of the ESM Treaty. The European Stability Mechanism Acts 2012 and 2014 provide for Ireland's membership of the European Stability Mechanism (ESM) and payments into it. The capital structure of the ESM, which is set out in the ESM Treaty, provides for a total capital subscription of €700 billion,...

Written Answers — Department of Finance: Tax Collection (9 Dec 2014)

Michael Noonan: The figures stated in my reply to Questions 157 to 160 on 18 November 2014 relate to profits earned from the provision of stallion stud services carried out in the course of a trade during the years 2008 to 2012 inclusive.  I am advised by the Revenue Commissioners that these amounts may not include gains from the sale of stallions, nor does it include profits earned from the provision...

Written Answers — Department of Finance: Property Taxation Administration (9 Dec 2014)

Michael Noonan: I am advised by Revenue that it does not pay a fee to An Post, or to any of the payment service providers (PSPs) that are 'approved' for the collection of Local Property Tax (LPT). The four approved PSPs are An Post, Payzone, Omnivend and Paypoint. The use of such third party entities is provided for by Section 122 of the Finance (Local Property Tax) Act 2012 (as amended). Revenue has...

Written Answers — Department of Finance: Tax Reliefs Eligibility (9 Dec 2014)

Michael Noonan: Tax relief in respect of health expenses is allowed in accordance with the provisions of section 469 of the Taxes Consolidation Act 1997.  In order to qualify for relief, an individual must show that he or she has incurred "health expenses" for the provision of "health care".  For the purposes of section 469, "health care" means "the prevention, diagnosis, alleviation or treatment...

Written Answers — Department of Finance: Pensions Legislation (9 Dec 2014)

Michael Noonan: I assume that the €2 million figure and the multiple of that figure in the question are referring to the Standard Fund Threshold (SFT). At the outset I should make clear that it is pensions tax legislation and not Revenue rules that provides for the limit or ceiling on the total capital value of tax-relieved pension benefits that an individual can draw down in their lifetime from all...

Written Answers — Department of Finance: Property Taxation Collection (9 Dec 2014)

Michael Noonan: I am advised by Revenue that the person to whom the Deputy refers in his Question is meeting his Local Property Tax (LPT) obligations through the Deduction at Source (DaS) payment method in respect of the property mentioned and there is no question of any penalties or interest being applied. By way of background information in respect of penalties, Part 14 of the Finance (Local Property...

Written Answers — Department of Finance: VAT Rate Reductions (9 Dec 2014)

Michael Noonan: The 9% Vat rate has been broadly welcomed by the tourism and hospitality industry since its introduction as part of the Jobs Initiative. I indicated in my Budget speech that the 9% VAT rate will remain under review and have made it clear to the sector that if the reduced rate is not passed onto consumers, I will revisit the case for its retention. For ease of reference, I...

Written Answers — Department of Finance: An Fhoireann Rannach (9 Dec 2014)

Michael Noonan: The Department is aware of its obligations under Section 11 of the Official Languages Act 2003.  This Department has set out its obligations as part of our Irish Languages Scheme 2014-2017. There are no records available of those with a proficiency in Irish for the years 1974, 1984, 1994 or 2004. Please note that a Language and Qualifications survey was carried out during 2014 which...

Written Answers — Department of Finance: Cycle to Work Scheme Administration (9 Dec 2014)

Michael Noonan: The Cycle to Work scheme is essentially an environmental measure. It was introduced on that basis to help lower carbon emissions, reduce traffic congestion, encourage more employees to cycle to work and also to help improve health and fitness levels. However, as children tend to receive bicycles from their parents there is a concern that such an extension to the scheme would become a...

Written Answers — Department of Finance: National Debt (9 Dec 2014)

Michael Noonan: General government debt is a measure of the total gross consolidated debt of the State and is the measure used for comparative purposes throughout the European Union. As such, this response focuses primarily on general government debt. According to the Central Statistics Office (CSO), general government debt at end-2010 and end-2013 stood at €144.2 billion and €215.6 billion...

Written Answers — Department of Finance: VAT Exemptions (9 Dec 2014)

Michael Noonan: VAT law is governed by the EU VAT Directive, with which Irish VAT law must comply.  The EU VAT Directive does not makes provision for a VAT exemption for the purchase of mountain rescue equipment, and as such an exemption cannot be granted under Irish law. Only persons who charge VAT on their economic activity are entitled to claim VAT on their business inputs. Where mountain rescue...

Written Answers — Department of Finance: Financial Services Regulation (10 Dec 2014)

Michael Noonan: Due to the confidentiality requirements imposed by domestic and EU legislation which provides for confidentiality of information and limits disclosure to circumstances specifically provided for in the Central Bank Act 1942, the Central Bank advise me that it cannot comment on its engagement with specific entities. If the individual concerned has not already done so, they may wish...

Written Answers — Department of Finance: Tax Compliance (10 Dec 2014)

Michael Noonan: I am advised by the Revenue Commissioners that where an individual or a company file their tax return late, a surcharge known as a late filing surcharge applies.  The current rate of surcharge for late filing of Income Tax and Corporation Tax returns is:- - 5% of the tax due  subject to a maximum of €12,695 where the return of income is delivered  before the expiry of...

Written Answers — Department of Finance: Property Taxation Administration (10 Dec 2014)

Michael Noonan: In designing the Local Property Tax (LPT), due regard was given to issues such as ability to pay. The Finance (Local Property Tax) Act 2012, as amended, provides for the possibility of deferring the charge to LPT in certain circumstances to assist individuals who may have difficulty paying the tax.  To qualify for a deferral, the residential property must be occupied as a sole or main...

Written Answers — Department of Finance: Fuel Oil Specifications (10 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 67 and 68 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 consumers' vehicles, legitimate businesses and the exchequer by all forms of such fraud. Revenue has, over the recent past, received reports from a variety of locations around the country of problems...