Results 22,241-22,260 of 27,019 for speaker:Michael Noonan

Written Answers — Illicit Trade in Tobacco: Illicit Trade in Tobacco (21 Feb 2012)

Michael Noonan: I propose to take Questions Nos. 140, 141 and 155 together. I am informed by the Revenue Commissioners that a survey commissioned by Revenue and the Office of Tobacco Control in 2009 estimated that 20% of cigarettes consumed in the State had not been taxed in this jurisdiction. This figure was further broken down as 14% illicit product and 6% legally imported by passengers arriving into the...

Written Answers — EU Directives: EU Directives (21 Feb 2012)

Michael Noonan: The EU Regulation to which the Deputy refers is "Regulation (EU) No 1175/2011 of the European Parliament and of the Council of 16 November 2011 amending Council Regulation (EC) No 1466/97 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies". This Regulation is one of the five EU Regulations and one EU Directive that go to...

Written Answers — Fiscal Policy: Fiscal Policy (21 Feb 2012)

Michael Noonan: The structural deficit refers to the general government deficit adjusted for the economic cycle and one-off / temporary measures. Unlike the headline deficit, the structural deficit cannot be measured directly and must be estimated. This is difficult to do with any degree of accuracy, especially in a small open economy such as Ireland's, as acknowledged by the Fiscal Council in its recent...

Written Answers — Motor Imports: Motor Imports (21 Feb 2012)

Michael Noonan: I am advised by the Revenue Commissioners that a new vehicle registration computer system was introduced in December 2011. Because of budgetary constraints, it was not possible to carry forward all the registration details of vehicles registered in the previous 19 years to the new system. Accordingly, a simplified model that did not require the details of the registration number assigned to...

Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (21 Feb 2012)

Michael Noonan: I am informed by the Revenue Commissioners that following receipt of updated pension figures from the Department of Social Protection, it transpires that the person in question is in receipt of a Department of Social Protection Old Age Pension with an Increase for a Qualified Adult. In the circumstances the person concerned is entitled to one PAYE Tax Credit in respect of the pension. He is...

Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (21 Feb 2012)

Michael Noonan: I am advised by the Revenue Commissioners that a claim for medical expenses of €5,384 was received from the person named for 2009 and a net refund of €177.65 issued on 14th December 2011, €88.99 to the person named and €88.66 to his spouse. In processing the refund, an apparent under deduction of PAYE for 2009 of €897.74 came to light from the P35 forms submitted by the employers. A...

Written Answers — Tax Collection: Tax Collection (21 Feb 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that they have written to the person concerned requesting the details necessary to establish if he is entitled to a refund of income tax.

Written Answers — Mortgage Arrears: Mortgage Arrears (21 Feb 2012)

Michael Noonan: Subject to the provisions of the Central Bank Code of Conduct on Mortgage Arrears and the wider legal framework, the banks in Ireland, including those in which the State has a significant shareholding, are independent commercial entities and decisions on the handling of their loans, including mortgages, are, in the first instance, a commercial matter for the individual institutions. However,...

Written Answers — Tax Code: Tax Code (21 Feb 2012)

Michael Noonan: Under Section 83 of the Finance Bill 2012 I am proposing to apply the 9% reduced VAT rate to admissions to open farms with effect from 1 January 2012.

Written Answers — Currency Exchange: Currency Exchange (21 Feb 2012)

Michael Noonan: I am informed by the Central Bank that the outstanding amount of punts remaining to be exchanged for euros at the Central Bank of Ireland at the end of January 2011 was as follows:

Written Answers — Currency Exchange: Currency Exchange (21 Feb 2012)

Michael Noonan: · Irish £ banknotes €237.4 million

Written Answers — Currency Exchange: Currency Exchange (21 Feb 2012)

Michael Noonan: · Irish £ coin €125.1 million Section 121 of the Central Bank Act 1989, as inserted by Section 18 of the Economic and Monetary Union Act 1998, provides that the Central Bank of Ireland may continue to redeem Irish pound notes, or any other notes that were previously legal tender. The Government does not intend to introduce a final date for exchange of outstanding punts at this time, but...

Written Answers — Currency Exchange: Currency Exchange (21 Feb 2012)

Michael Noonan: I have been informed by the Central Bank that some €2.6m was exchanged from punts to euros at the Central Bank of Ireland in 2011, with some variation in the daily amounts. The Central Bank is satisfied of the legitimacy of the level of exchange, which is derived from various sources. The Central Bank does not have details of the profile of larger exchanges, but I am advised that it...

Written Answers — Tax Yield: Tax Yield (21 Feb 2012)

Michael Noonan: As the Deputy will be aware Finance Bill 2012 contains two proposed measures aimed at reducing the cost to the State of the "legacy" property-based tax incentive schemes and bringing it to an end in a shorter time period. These measures consist of a property relief surcharge, which will take effect from 1 January 2012 and a cap on property-based Accelerated Capital Allowance Schemes to be...

Written Answers — Tax Yield: Tax Yield (21 Feb 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the latest relevant information available as to the cost to the Exchequer of all property related tax schemes (Section 23 type reliefs and accelerated capital allowances) is for the year 2009, based on personal income tax returns filed by non-PAYE taxpayers and corporation tax returns filed by companies for that year. On that basis the estimated...

Written Answers — Tax Yield: Tax Yield (21 Feb 2012)

Michael Noonan: At Budget time, the Government carefully considered the various options open to it in terms of taxation. One of the key objectives of the Government is to get people back to work. Indirect taxes have a less adverse impact on economic activity and employment, which is why Budget 2012 focused on indirect taxes, such as VAT, rather than on income tax. As we have very little actual data for 2012...

Written Answers — Financial Services Regulation: Financial Services Regulation (21 Feb 2012)

Michael Noonan: The 6 charities listed below are eligible charities for the purposes of a tax exemption and have their addresses at the IFSC. CHY8877 Treoir, The National Federation of Services for Unmarried Parents 14 Gandon House Custom House Square IFSC Dublin 1 CHY12414 HEAnet Ltd 5 Georges Dock IFSC Dublin 1 CHY9928 National College of Ireland Mayor Street IFSC Dublin 1 CHY15929 National...

Written Answers — Insurance Premiums: Insurance Premiums (21 Feb 2012)

Michael Noonan: The Deputy should note at the outset that neither the Central Bank, nor I have powers to direct an insurance company as to how it should price its insurance policies. This is a commercial decision for the company in question. However in relation to the European Court of Justice ruling in the Test Achats case, the EU Commission has brought out guidelines on the application of the court...

Written Answers — Pension Provisions: Pension Provisions (21 Feb 2012)

Michael Noonan: Not all of the information sought by the Deputy is available. This is because members of pension schemes are not charged with paying the 0.6% stamp duty levy on pension fund assets which was introduced last year. The levy is a charge on the trustees of pension schemes and on the insurers and administrators who manage the assets of pension schemes and it is they who are liable to pay the...

Written Answers — Credit Availability: Credit Availability (21 Feb 2012)

Michael Noonan: The European Progress Microfinance Facility is a facility which enables selected microcredit providers in the EU to increase lending, by issuing guarantees, thereby sharing the providers' potential risk of loss and by providing funding to increase microcredit lending. The microcredit providers may be private or public banks, non-bank microfinance institutions and not-for-profit microcredit...