Results 18,261-18,280 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Fuel Laundering (15 Jan 2015)

Michael Noonan: I am informed by the Revenue Commissioners that they are aware of the threat posed by diesel laundering and have implemented a comprehensive strategy to tackle the problem.  This strategy includes the following elements: - The licensing regime for auto fuel traders was strengthened with effect from September 2011 to limit the ability of criminals to get laundered fuel onto the...

Written Answers — Department of Finance: Banks Recapitalisation (15 Jan 2015)

Michael Noonan: As the Deputy will be aware the Irish banking system is now in a much stronger position than it has been in recent years. Profits are recovering, balance sheets have been restructured and we have started the process of returning cash to the taxpayer following the huge investments that were made over the 2009-11 period.  The preliminary independent valuation of our...

Written Answers — Department of Finance: Tax Yield (15 Jan 2015)

Michael Noonan: I am informed by the Revenue Commissioners that there was no fall in Excise receipts in 2014 due to lower fuel prices. It should be noted that Excise is a fixed rate regardless of price.  I am also informed 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. The following table is a summary of...

Written Answers — Department of Finance: Economic Growth (15 Jan 2015)

Michael Noonan: The price of Brent crude oil has fallen considerably since June 2014. For the most part, this is a positive development and is likely to have a favourable impact on real economic activity in Ireland. As Ireland is a net energy importer, falls in oil prices have a positive impact in the short term. Lower energy prices reduce firms' input costs,...

Written Answers — Department of Finance: Banks Recapitalisation (15 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 67 and 72 together. As the Deputy is aware, within the past few days, I have awarded a contract to Goldman Sachs International to provide financial advice to the Department of Finance in relation to capital restructuring actions (and other related matters) with respect to the State's investments in AIB. I can confirm for the Deputy that the duration of the...

Written Answers — Department of Finance: Credit Unions Restructuring (15 Jan 2015)

Michael Noonan: The Credit Union Restructuring Board (ReBo) has given approval to 12 restructuring proposals, involving 30 credit unions. Of these, 8 credit union mergers involving 20 credit unions have been completed to date. The remaining 4 proposals involving 10 credit unions are awaiting Central Bank approval and are due to complete shortly. In line with the...

Written Answers — Department of Finance: Consultancy Contracts Expenditure (15 Jan 2015)

Michael Noonan: I have received the following information in relation to amounts paid to the company in question. Department of Finance There is no record of any payments to the company in question during the period. Central Bank The Central Bank has not paid for professional services from the firm mentioned, in the period 2008 to present. National Treasury Management Agency and National Pensions...

Written Answers — Department of Finance: Knowledge Development Box (15 Jan 2015)

Michael Noonan: There is currently one public consultation open by my Department - the Knowledge Development Box Consultation Paper. In line with the commitment contained in the Road Map for Ireland's Tax Competitiveness, which was published as part of Budget 2015, my Department launched a public consultation on the introduction of a new corporation tax incentivethe Knowledge Development Box...

Written Answers — Department of Finance: Mortgage Interest Relief Application (15 Jan 2015)

Michael Noonan: I am advised by Revenue that mortgage interest relief is available through the Tax Relief at Source (TRS) system as provided for by Section 244 of the Taxes Consolidation Act 1997. The relief is available at varying rates and ceilings in respect of interest paid on a loan used for the purchase, repair, development or improvement of a sole or main residence. The relief is available on...

Leaders' Questions (20 Jan 2015)

Michael Noonan: What about the damage of the bombs?

Written Answers — Department of Finance: Tax Collection (20 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 225 and 226 together. I am advised by Revenue that the person in question has a significant tax debt and had declined to positively engage on the issue in spite of being afforded a number of opportunities to do so. For this reason Revenue was left with no alternative but to start debt collection/enforcement proceedings against the person, which included...

Written Answers — Department of Finance: VAT Payments (20 Jan 2015)

Michael Noonan: With regard to the application of VAT on electricity bills supplied by utility companies, in accordance with section 37(1) of the Value-Added Tax Consolidation Act 2010, the amount on which VAT is chargeable is the total consideration receivable by the supplier, "including all taxes, commissions, costs and charges whatsoever", but not including the VAT itself. This reflects EU VAT law, with...

Written Answers — Department of Finance: Property Tax (20 Jan 2015)

Michael Noonan: I am advised by Revenue that the Finance (Local Property Tax) Act 2012 (as amended) sets out how residential properties are to be valued for LPT purposes. The Act provides that property valuations must be determined on a specific valuation date and Section 14(1) further provides that where there is a change of ownership between consecutive valuation dates, the chargeable value, as stated...

Written Answers — Department of Finance: Tax Collection (20 Jan 2015)

Michael Noonan: I assume that the Deputy is referring to the amount of Income Tax paid in respect of PAYE construction workers. I am informed by the Revenue Commissioners that Income Tax paid in respect of PAYE construction workers, as well as the numbers of employments for such workers, for the period 2008 to 2013, the latest year figures are available for, is shown as follows. Year Number of Employments...

Written Answers — Department of Finance: Tax Data (20 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 230 to 232, inclusive, and 235 and 236 together. In relation to Question No. 230 (Ref: 2245/15) and Question No. 231 (Ref:  2246/15), as I previously informed the Deputy in my response to Question No. 202 on 25 November last year, a Subcontractor will not generally describe him/herself as such when first registering for Income Tax with Revenue...

Written Answers — Department of Finance: Mortgage Arrears Rate (20 Jan 2015)

Michael Noonan: The Central Bank has advised that there is no such regulated category as 'sub-prime' lender but that phrase is sometimes used to refer to some non-deposit taking 'retail credit firms'. Retail credit firms are a regulated category of entities which are authorised to provide credit (in the form of cash loans) directly to individuals. Some firms authorised in this category are mortgage...

Written Answers — Department of Finance: Credit Unions Services (20 Jan 2015)

Michael Noonan: While the Government is absolutely determined to support a strengthened and growing credit union movement and has highlighted its support for the return of credit union services to Newbridge, my role as Minister for Finance is to ensure the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. In line with the Credit Union...

Written Answers — Department of Finance: Tax Credits (20 Jan 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that their records indicate that the person concerned was married in 2009 and that he has been treated as a married person for tax purposes since then. The Revenue Commissioners will write to the person concerned to clarify the position.

Written Answers — Department of Finance: Departmental Meetings (20 Jan 2015)

Michael Noonan: In response to the Deputy's question and further to my response to Parliamentary Question No. 205 of 16 December 2014, as part of the day to day operation of the Department  I meet with Senior Officials on a collective and individual basis. Such regular and ongoing meetings and discussions with my senior officials on a daily, weekly and monthly basis is an integral part of the...

Written Answers — Department of Finance: EU-IMF Programme of Support (20 Jan 2015)

Michael Noonan: There have been a number of improvements to the terms of our EU-IMF Programme loans since they were initially agreed in late 2010. These changes have included reductions of the interest rates and, in the case of the EU facilities, extensions of maturities. While not part of the EU-IMF Programme we have also negotiated the replacement of the Promissory Notes issued to the Irish Bank Resolution...