Results 18,701-18,720 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Departmental Legal Cases (17 Feb 2015)

Michael Noonan: The Public Health (Standardised Packaging of Tobacco) Bill 2014 and the issues surrounding it are a matter for my colleague the Minister for Health in the first instance.

Written Answers — Department of Finance: Tax Code (17 Feb 2015)

Michael Noonan: Capital Acquisitions Tax is the overall name for both gift and inheritance tax. I am informed by the Revenue Commissioners that for the purposes of Capital Acquisitions Tax, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary) determines the maximum tax-free threshold known as...

Written Answers — Department of Finance: Proposed Legislation (17 Feb 2015)

Michael Noonan: The Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 was published in January and second stage of the Bill was taken in the Dáil on 4 February.  Since then, my officials have been in contact with the Central Bank and with the Office of the Attorney General to further progress the legislation. It remains my intention to ensure that borrowers...

Written Answers — Department of Finance: Tax Credits (17 Feb 2015)

Michael Noonan: The Single Person Child Carer Credit (SPCCC) replaced the One Parent Family Tax Credit with effect from 1 January 2014.  The SPCCC is available only to the primary carer of the relevant child, subject to certain conditions, as set out on Revenue's website at . I am informed by Revenue that the person concerned has been in direct contact with them. Based on the information provided and,...

Written Answers — Department of Finance: Mortgage Interest Rates (17 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 224 to 227, inclusive, together. I have been informed by permanent tsb ("PTSB") that it is currently subject to an Enforcement Investigation by the Central Bank in relation to the circumstances in which the bank refused to allow certain customers who had switched from a tracker rate mortgage to a fixed rate mortgage for an agreed term...

Written Answers — Department of Finance: Banking Sector Regulation (17 Feb 2015)

Michael Noonan: Statutory Instrument No. 47 of 2015 entitled, "Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Housing Loan Requirements) Regulations 2015", was signed by the Governor of the Central Bank of Ireland on 9 February 2015. The Regulations were subsequently laid before the Houses of the Oireachtas and are now in effect.

Written Answers — Department of Finance: Insurance Industry Regulation (17 Feb 2015)

Michael Noonan: The current legal and regulatory framework for the provision of insurance in the European Economic Area, and the supervision of that activity, is prescribed by European Union Law in the Life and Non-Life Insurance Directives. Following negotiations that were completed at European level in November 2013, a new regime known as Solvency II will commence on 1 January...

Written Answers — Department of Finance: Tax Data (17 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the information requested by the Deputy, estimated by reference to the tax year 2015, is set out in the following table. All Income Earners for Income Tax Year 2015 Range of Gross Income € Estimated Effective Income Tax Rate % 1,001 - 20,000 0.61% 20,001 - 32,800 4.47% 32,801 -  50,000 9.69% 50,001 - 70,000 14.95% 70,001...

Written Answers — Department of Finance: EU Funding (17 Feb 2015)

Michael Noonan: I presume that the Deputy is asking about the European Fund for Strategic Infrastructure (EFSI) or the so called Juncker plan and the link between it and the indicative project list submitted at the end of last year as part of the work of the EIB-Commission Task Force on developing an Investment Project pipeline in the EU.  The Irish project list was part of an EU wide...

Written Answers — Department of Finance: Departmental Expenditure (17 Feb 2015)

Michael Noonan: The Office of the Paymaster General in my Department makes occupational pension payments on behalf of the Superannuation Vote and a number of other public sector entities. In that regard, consideration of the implications of the move to Eircodes is only at an early stage and there is no estimate of the likely cost, though it is not anticipated that it will be significant. The pension...

Written Answers — Department of Finance: Departmental Programmes (18 Feb 2015)

Michael Noonan: As the Deputy can appreciate, most of my Department's external communications and publications are of a technical and complex nature.   We always try to ensure that they are explained in as plain a manner as possible.  We have been working over the years to improve the effectiveness of our communications through the use of infographics and summary presentations and...

Written Answers — Department of Finance: Tax Rebates (18 Feb 2015)

Michael Noonan: The Home Renovation Incentive (HRI) scheme provides for tax relief by way of an income tax credit at 13.5% of qualifying expenditure on the repair, renovation, or improvement works carried out on a person's main home by tax compliant HRI qualifying contractors.  A minimum of €4,405 (before VAT) must be spent on the property in order to qualify for the HRI tax credit and the...

Written Answers — Department of Finance: Tax Reliefs Eligibility (18 Feb 2015)

Michael Noonan: I assume the Deputy is seeking information in relation to tax relief in respect of third-level fees. Section 473A of the Taxes Consolidation Act 1997 provides for tax relief at the standard rate of income tax (20%) in respect of qualifying fees paid by an individual for a third level education course, including a postgraduate course.  Qualifying fees mean tuition fees in respect...

Written Answers — Department of Finance: Tax Collection (18 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that Life Assurance Exit Tax is levied on the increase in value of certain products sold by Life Assurance companies. The rate is currently 41%. A policy or any part of a policy that is solely in respect of life assurance would not attract exit tax. Where a policy contains an investment element, that part of the policy, which relates to investment,...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (18 Feb 2015)

Michael Noonan: I am pleased to have the opportunity to appear before the select committee today in connection with the 2015 Estimates for my Department and for the offices under the ambit of my Department, including the Revenue Commissioners, the Appeal Commissioners and the Comptroller and Auditor General. I thank the Officers of my Department for their ongoing dedication and commitment as we continue to...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (18 Feb 2015)

Michael Noonan: It is simply the way the days fall. Instead of 26 payment days there will be 27 payment days in 2015.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (18 Feb 2015)

Michael Noonan: The spend was €598,000 compared to a budget of €541,000. We have sought an allocation of €585,000 for 2015 to reflect the expenditure pressures arising from an increase in European Union and international engagements. Of this allocation, approximately €105,000 is allocated for ministerial travel, including the Minister of State and ministerial drivers. Key items...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (18 Feb 2015)

Michael Noonan: The spend was €347,000 in 2014 compared to an allocation of €649,000. The underspend was largely driven by a delay in progressing areas premises projects as tendering and procurement processes were required. We have sought an allocation of €1.389 million for 2015. This reflects the expected costs of a number of remedial and health and safety works required in the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (18 Feb 2015)

Michael Noonan: The 2014 allocation was €6.544 million and was provided to cover a wide range of deliverables including banking sector policy, personal debt, small and medium enterprise lending, financial services reform and the cost of implementing the national payments plan project, all of which were being led by the Department. The allocation sought for 2015 is €5.62 million, a reduction of...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2015
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (18 Feb 2015)

Michael Noonan: The 2014 allocation was €0.575 million. It was provided to enable the unit to continue its programme of rolling reviews of tax categories and expenditures. The committee will be aware that the division has been engaged in a number of legal challenges, which will continue during 2015. If, for example, the Apple case in Europe goes the distance, there will obviously be associated...