Results 18,661-18,680 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Universal Social Charge Application (11 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the estimated first and full year cost to the Exchequer of reducing the Universal Social Charge (USC) on self-employed income in excess of €100,000 from 11% to 8% is €54 million and €125 million respectively. All figures above are estimates for 2015, using the actual data for the year 2012 (the latest year for which...

Written Answers — Department of Finance: National Minimum Wage (11 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that workers earning the minimum wage are not separately identified on Revenue records, and therefore it is not possible to estimate the additional yield to the Exchequer from increasing the minimum wage as outlined. The complexities of estimating the increased yield from income taxation would require, among other information, details...

Written Answers — Department of Finance: Debt Conference (11 Feb 2015)

Michael Noonan: I have no plans to discuss a euro area debt conference with the new Greek Finance Minister in Dublin. My view is that when countries encounter difficulties, a process of negotiation is always better than one of conflict. Specifically in the case of euro area Member States, all programme negotiations have been conducted within the Eurogroup and Ecofin, with IMF involvement as...

Written Answers — Department of Finance: National Debt (11 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 52 and 53 together. The National Treasury Management Agency has provided the following figures which for 2014 are provisional, unaudited figures at this point. The figures presented in the table represent National Debt cash interest only. The figures in the table reflect the impact of hedging transactions. Table: National Debt Interest...

Written Answers — Department of Finance: Tax Collection (11 Feb 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that, on the basis of the information currently available to them, the correct tax is being deducted from the individual concerned. I understand that Revenue have made arrangements to send a tax credit certificate to the person concerned detailing how the tax credits have been calculated. If the person concerned has any questions in relation to...

Written Answers — Department of Finance: Tax Reliefs Cost (11 Feb 2015)

Michael Noonan: Section 467 of the Taxes Consolidation Act 1997 provides for tax relief at the marginal rate for expenses incurred by an individual who employs a carer to take care of an incapacitated individual in their own home. In order to assist those who prefer to source care for such individuals for provision in their own homes and to alleviate the pressure on nursing home beds, I increased the...

Written Answers — Department of Finance: Banks Recapitalisation (12 Feb 2015)

Michael Noonan: There is no intention to take the actions to which the Deputy has referred.

Written Answers — Department of Finance: European Central Bank (12 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 65 and 66 together. The announcement by the ECB on 22nd January to purchase €60 billion of public and private assets per month from March is intended to help reverse the decline in inflationary expectations and ultimately to ensure price stability in the euro area. By reducing the likelihood of deflation, this should help support consumer spending...

Written Answers — Department of Finance: Economic Policy (12 Feb 2015)

Michael Noonan: Under European Council Regulation 1175/2011, each Member State is required to present an annual update of its Stability Programme to the European Commission and European Council by end-April. The Stability Programme Update (SPU) sets out the Government's budgetary objectives and the main economic assumptions underpinning them over the medium term.  This year, Ireland's SPU will be...

Written Answers — Department of Finance: Property Tax Collection (12 Feb 2015)

Michael Noonan: I am assuming that the Deputy's Question relates to a property owner who owns more than one property.  In relation to owners of a single property, the taxpayer has the option of filing Local Property Tax (LPT) either on paper or electronically (although payment electronically is encouraged as being the most efficient and cost effective for both the taxpayer and Revenue).  ...

Written Answers — Department of Finance: Mental Health Awareness (12 Feb 2015)

Michael Noonan: In response to the Deputy's question my Department is part of the Government Buildings Complex which includes the Department of the Taoiseach. My Department does not have a separate flag pole and therefore  decisions regarding the flags for the complex are taken by the Department of the Taoiseach.

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Establishment (12 Feb 2015)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) is built on the foundation stone that was laid by the Taoiseach and Chancellor Merkel when they agreed that the German promotional bank Kreditanstalt für Wiederaufbau (KfW) would help finance the Irish SME sector when Ireland was exiting the EU/IMF programme in late 2013. I asked my Department and the National...

Written Answers — Department of Finance: Tax Rebates (12 Feb 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that they are statutorily debarred from making repayments of tax outside of the four year period from the end of the tax year in respect of which the tax was paid, other than in very specific circumstances (for example, where there is an arithmetical error in an assessment).  Equally, Revenue can not seek payment of tax from a taxpayer...

Written Answers — Department of Finance: Fuel Fraud (12 Feb 2015)

Michael Noonan: 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 fuel fraud. Revenue has, since last summer, received reports from a variety of locations around the country of problems relating to petrol quality, and suggestions that these...

Written Answers — Department of Finance: Property Tax Deferrals (12 Feb 2015)

Michael Noonan: I am advised that the most recent Local Property Tax (LPT) information published by the Revenue Commissioners shows that there are around 24,200 and 24,100 properties for which claims for deferral have been filed for 2013 and 2014 respectively. The most up to date figures are published on the Revenue Commissioners website at and these will be updated in due course.

Written Answers — Department of Finance: Mortgage Data (12 Feb 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 lenders....

Written Answers — Department of Finance: Mortgage Interest Relief Expenditure (12 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that, on the basis of returns in respect of eligible tax relief at source (TRS) accounts, it is estimated that the number of individuals availing of mortgage interest relief (MIR) in the years 2012, 2013 and 2014 is as shown in the following table. Year Number of individuals availing (estimated) 2012 508,200 2013 492,700 2014* 495,000*This...

Written Answers — Department of Finance: EU-IMF Programme of Support (12 Feb 2015)

Michael Noonan: I am advised by the National Treasury Management Agency (NTMA) that the position regarding the interest rate applying to each of the EU/IMF Programme loan facilities, as at 10 February 2015, is as set out in the table following.  Facility Loan Amount (bn) as at 10 Feb 2015 € Equivalent (bn) as at 10 Feb 2015 Interest Rate on Loan Amount Reference Rate Basis EFSM EUR 22.5 22.5...

Written Answers — Department of Finance: Tax Reliefs Cost (12 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the available information on the cost to the Exchequer of property-related tax schemes for the tax year 2013, the latest year for which this information is available, is provisionally estimated at €177 million. This information is based on tax returns of self-assessed individuals and companies. It should be noted that the...

Written Answers — Department of Finance: Tax Data (12 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the total identifiable costs to the Exchequer currently available relate to Income Tax and Corporation Tax allowances, reliefs, exemptions and tax credits for 2012 (the latest year for which figures are available). These cost estimates are published in the Costs of Credits, Allowances and Reliefs tables on the Revenue Statistics webpage...