Results 19,661-19,680 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Interest Relief Expenditure (13 May 2015)

Michael Noonan: I propose to take Questions Nos. 80 to 82, inclusive, together. In relation to Question 18857/15, I am informed by the Revenue Commissioners that landlords may deduct interest on money borrowed to purchase, improve or repair residential property from the gross rent when computing their rental profits for tax purposes on that property. Interest can only be deducted during the period in which...

Written Answers — Department of Finance: Property Tax Yield (13 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a breakdown of Local Property Tax collected from landlords as requested by the Deputy is not available. The Deputy may be interested to note that general statistics on Local Property Tax are available on Revenue's website at .

Written Answers — Department of Finance: Banking Sector (13 May 2015)

Michael Noonan: I propose to take Questions Nos. 84 to 87, inclusive, together. I have stated on numerous occasions that it is Government policy that we will not remain a holder of our banking investments in the long term. Given our high debt to GDP ratio, we do not have the luxury of holding all of these investments indefinitely and I envisage receipts from the gradual sale...

Written Answers — Department of Finance: Tax Collection (13 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they have ascertained the position regarding the source of income of the person concerned and have made arrangements to provide a letter to him confirming that he has no liability to tax.

Written Answers — Department of Finance: Farm Enterprises (14 May 2015)

Michael Noonan: I am conscience of the importance of encouraging the availability of land to younger farmers, and this is an issue which was given great emphasis during last year's Agri-Taxation Review. A number of policies have been enacted or modified for this purpose in recent years, several of them emerging out of the Agri-Taxation Review. Included among these are the following: Capital Gains Tax Farm...

Written Answers — Department of Finance: Consultancy Contracts Data (14 May 2015)

Michael Noonan: The information requested by the Deputy is contained in the table below and is taken from the information already published on my Department's website.  The nature of my Department's work is such that, from time to time, reliance on specialist advice is the optimal route. In using such consultancies, my Department seeks not only to obtain value for money, but to target the best...

Written Answers — Department of Finance: Consultancy Contracts Data (14 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the details sought by the Deputy are set out in the following tables. Where the work was undertaken on a "per person per day" basis, details of the number of persons engaged are set out in the table. Information regarding the number of persons engaged is not available where companies were engaged to deliver a specific body of work or project....

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (14 May 2015)

Michael Noonan: As the Deputy is aware, 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. Prior to the enactment of the Finance Act 2014 it was a...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (14 May 2015)

Michael Noonan: The legislation governing the Drivers and Passengers with Disabilities Scheme is contained in Section 92 of the Finance Act 1989 (as amended), Section 134(3) of the Finance Act 1992 (as amended) and the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (S.I. 353 of 1994).  Full details of the Scheme, including the legislative criteria which must be met,...

Written Answers — Department of Finance: Milk Quota (14 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners that payments made by dairy farmers in respect of milk quota super levy (under SI 227 of 2008, as amended and Council Regulation EC 1234/2007, as amended) are an expense of the trade and as such are tax deductible. In respect of the 2015 super levy, a regulation has been introduced whereby farmers who are facing a super levy liability will be able...

Written Answers — Department of Finance: Liquor Licensing Laws (14 May 2015)

Michael Noonan: The Licensing Acts 1833 to 2010, together with the Finance (1909-10) Act 1910, provide the regulatory framework for liquor licences, including the licences relevant to the sale of wine. Under these provisions, wine can be sold for personal consumption only by a person who holds a publican's licence, a wine retailer's on-licence, a special restaurant licence, or a wine retailer's off-licence....

Written Answers — Department of Finance: VAT Rate Reductions (14 May 2015)

Michael Noonan: Annex III of the EU VAT Directive allows Member States to apply a reduced rate to the construction, repair and renovation of housing but not to non-residential construction. While most Member states apply the standard rate to construction services, Ireland has historically applied the 13.5% reduced rate of VAT to all construction services under a derogation from the EU VAT Directive. ...

Written Answers — Department of Finance: Stock Exchange (14 May 2015)

Michael Noonan: Notwithstanding media reports on this matter last week, the Irish Stock Exchange investigates suspicious share trading activity including suspected insider dealing on the Enterprise Stock Market, being the market on which Siteserv shares traded, and reports any such findings to the Office of Director of Corporate Enforcement. The Department of Finance does not have a role in this process.

Written Answers — Department of Finance: VAT Rate Application (14 May 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that VAT applies to the services of all insolvency practitioners including the activities carried out by liquidators, receivers, examiners and Personal Insolvency Practitioners (PIPs) involved in the Debt Settlement Arrangements and Personal Insolvency Arrangements as provided for in the Personal Insolvency Act 2012.  The Revenue...

Written Answers — Department of Finance: Banking Sector (14 May 2015)

Michael Noonan: In early 2011, as part of the agreement with the External Partners, the Central Bank commissioned a detailed evaluation of the possible loan losses that would be incurred by banks in a severe stress scenario. All the loan books were examined, including the residential mortgage books in Ireland and the UK. The results of this work were key inputs into the capital requirements...

Written Answers — Department of Finance: Tobacco Control Measures (19 May 2015)

Michael Noonan: As the Deputy will be aware, the tobacco industry has developed a number of novel tobacco products, which include heated tobacco products. At present the tax treatment of tobacco products is provided for in Directive 2011/64/EU (the 'Tobacco Products Tax Directive'), which harmonises the structures and definitions of tobacco products. Ireland has implemented this Directive through Chapter 3...

Written Answers — Department of Finance: Universal Social Charge Application (19 May 2015)

Michael Noonan: The Universal Social Charge (USC) was introduced in Budget 2011 to replace the Income Levy and Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and maintain revenue to reduce the budget deficit. It is a more sustainable charge than those it replaced, and is applied at a low rate on a wide base. The USC, like the Income Levy before it, does not apply to...

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

Michael Noonan: I am advised by the Revenue Commissioners that Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. For the purposes of CAT, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift...

Written Answers — Department of Finance: VAT Rate Application (19 May 2015)

Michael Noonan: As the Deputy is aware, the Value Added Tax policy gap measures the additional revenues that could in principle be collected if a uniform rate (i.e. the standard rate, which is 23% in Ireland) applied to all consumption, thereby eliminating the effects of reduced rates and exemptions. Ireland operates a number of reduced VAT rates and exemptions which influence the size of Ireland's VAT...

Written Answers — Department of Finance: Living City Initiative (19 May 2015)

Michael Noonan: The Living City Initiative is a targeted tax incentive aimed at the regeneration of houses in the parts of the inner cities which are most in need of regeneration. The residential element of the relief was initially targeted at Georgian houses but the scope was later extended to buildings which were constructed before 1915 for use as a dwelling, following an independent ex ante cost benefit...