Results 18,821-18,840 of 27,019 for speaker:Michael Noonan

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 thank the Chairman, the committee staff and the Deputies who contributed to the meeting this evening.

Written Answers — Department of Finance: Insurance Costs (19 Feb 2015)

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, the price at which it is offered and the expiring of no claims discounts is a commercial...

Written Answers — Department of Finance: Tax Code (19 Feb 2015)

Michael Noonan: The query is with regard to a proposal for an income tax incentive for young farmers starting up farming. In Budget 2015, myself and my colleague Minister Coveney published an Agri-Tax Review, overseen by a working group made up of the Department of Finance, the Department of Agriculture, Food and the Marine, and the Revenue Commissioners. This review examined agri-taxation measures and made...

Written Answers — Department of Finance: VAT Payments (19 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply. The Directive provides that all goods and services are liable to VAT at the standard rate, currently 23% in Ireland, unless there is a provision in the Directive that permits a lower rate. Settled case law of the...

Written Answers — Department of Finance: Tax Data (19 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the PAYE Income Tax and Universal Social Charge (USC) paid in respect of employees in the construction sector, as well as the numbers of employments for such workers, for the period 2008 to 2013 (the latest year for which figures are available), is shown in the Table. It should be noted that an individual PAYE employee may have one or more...

Written Answers — Department of Finance: Mortgage Arrears Proposals (19 Feb 2015)

Michael Noonan: This Government has put in place a number of initiatives to assist homeowners in difficulty. Support and independent professional advice is available for borrowers in serious debt difficulty through the following channels: -Insolvency Service of Ireland () - -Money Advice and Budgeting Service (MABS) Borrowers in difficulty must engage with their lender as early as possible in order to...

Written Answers — Department of Finance: Property Tax Exemptions (19 Feb 2015)

Michael Noonan: I made a commitment to examine the Local Property Tax (LPT) and any impacts on LPT liabilities as a result of property price movements.  In that regard, Dr Don Thornhill has agreed to conduct a review to consider and make recommendations, in the context of property price developments, on what adjustments, if any, might be made to the system to achieve relative...

Written Answers — Department of Finance: Tax Rebates (19 Feb 2015)

Michael Noonan: Relief from DIRT on savings used by first time buyers towards the deposit on a home was introduced from 14 October 2014.  I am advised by the Revenue Commissioners that they are currently developing an online system whereby those who qualify for the relief will be able to claim their refund.  It is envisaged by Revenue that the online system and relevant guidance will be available...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Expenditure (19 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 Exemptions (19 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the following donations have been made under the provisions of section 1003 of the Taxes Consolidation Act 1997 in the period 2010 to 2013. 2010 3 paintings, painted by Hughie O'Donoghue entitled: "Raft", "Medusa" and "The Narrow Sea" valued at €190,000, resulting in a tax credit of €152,000. 2011 The Seamus Heaney Archive...

Written Answers — Department of Finance: Home Repossession Rate (19 Feb 2015)

Michael Noonan: This Government has put in place a number of initiatives to assist homeowners in difficulty, including reform of Personal Insolvency legislation, the provision of independent advice to those dealing with debt issues and revision of the Code of Conduct on Mortgage Arrears. The Code of Conduct on Mortgage Arrears (CCMA) provides a strong consumer protection framework to ensure that borrowers...

Written Answers — Department of Finance: Income Inequality (19 Feb 2015)

Michael Noonan: I note the report by the Think-Tank for Social Change (TASC) which outlines their views on inequality in Ireland.  While inequality is an important issue, not just for Ireland but globally, the Deputy should be aware that the TASC report identifies high levels of inequality in respect of market incomes. When inequality in Ireland is looked at in terms...

Written Answers — Department of Finance: Tax Code (19 Feb 2015)

Michael Noonan: As the Deputy is aware, employees in the PAYE system benefit from a PAYE income tax credit worth €1,650 per annum, to which the self-assessed are not entitled. The PAYE allowance, as it was then, was introduced in 1980 to improve the tax progression of PAYE taxpayers and to take account of the fact that the self-employed generally then had the advantage of paying tax on a preceding...

Written Answers — Department of Finance: Company Registration (24 Feb 2015)

Michael Noonan: Responsibility for the registration of Irish companies rests with the Department of Jobs, Enterprise and Innovation.  I am advised by that Department that they do not have a list of all the multi-nationals that are have headquarters here and cannot provide this information as the Companies Registration Office ('CRO') have no means to identify a multi-national company.  The CRO can...

Written Answers — Department of Finance: Budget Consultation Process (24 Feb 2015)

Michael Noonan: There have been significant changes in the budget process over recent years as a result of the "Two Pack" and other reforms to the Stability and Growth Pact. These changes included moving the Budget date to October in coordination with other EU Member States. The Government is always considering initiatives that would improve the budgetary process, particularly in relation to...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (24 Feb 2015)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, assistance with fuel costs, and an exemption from Motor Tax. In respect of drivers with disabilities, Regulation 8(1)(d) of the Disabled...

Written Answers — Department of Finance: Tax Collection (24 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that debt collection/enforcement action, including referral to the Sheriff, is normally only deployed in circumstances where there is no meaningful engagement by the taxpayer or business to agree mutually acceptable payment arrangements. The Commissioners have also assured me that they continue to be very conscious of the current economic climate...

Written Answers — Department of Finance: Credit Unions (24 Feb 2015)

Michael Noonan: While the Government is absolutely determined to support a strengthened and growing credit union movement, 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. Credit unions exist to attain the economic and social goals of their members and it is a matter for...

Written Answers — Department of Finance: Property Tax Exemptions (24 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that while there is no specific exemption from Local Property Tax (LPT) for a household where high level care is provided, a residential property occupied by an individual who is disabled may qualify for a reduction in the market value of the property for LPT purposes.  Additionally, where a residential property is occupied by an individual who...

Written Answers — Department of Finance: Tax Code (24 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that where a parent gives money to a child to assist with mortgage repayments, it is a gift for capital acquisitions tax purposes. In this regard, it is no different to money gifted to a child towards a deposit on a house. Accordingly, the to which the Deputy refers (Guide to the CAT treatment of receipts by children from their parents for their...