Results 23,121-23,140 of 27,019 for speaker:Michael Noonan

Written Answers — National Asset Management Agency: National Asset Management Agency (29 Nov 2011)

Michael Noonan: I do not propose to change the NAMA legislation at this stage. I propose to consider the advice of a senior international banker who recently reported to me on NAMA before deciding whether to initiate any changes to the agency's operations. As regards making properties available for social or community purposes, the NAMA Board has committed to giving first option to public bodies on the...

Written Answers — Tax Code: Tax Code (29 Nov 2011)

Michael Noonan: Irish VAT law must comply with the terms of the EU VAT Directive and there are strict procedures to be followed as regards the application of VAT. The VAT Directive provides that VAT must be applied to all economic activity, including the supply of medical appliances to blind persons. Separate from this, Ireland operates a VAT refund mechanism for disabled persons who have purchased medical...

Written Answers — Medical Cards: Medical Cards (29 Nov 2011)

Michael Noonan: Issues relating to the eligibility criteria for medical cards for those over 65 years and over 70 years is a matter for the Minister for Health.

Written Answers — Tax Code: Tax Code (29 Nov 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated full year cost to the Exchequer, estimated by reference to 2012 incomes, of increasing the existing exemption threshold of €4,004 per annum for the Universal Social Charge (USC) to €6,000 per annum and € 8,000 per annum would be in the region of €10 million and €25 million respectively. These figures are estimates from...

Written Answers — Tax Code: Tax Code (29 Nov 2011)

Michael Noonan: The current group tax free threshold amounts for Capital Acquisitions Tax (CAT) are: €332,084 for group A (gifts/inheritances from parents to children), €33,208 for group B (gifts/inheritances from grandparents to grandchildren, from uncles/aunts to nieces/nephews, and between siblings) and €16,604 for group C (all other gifts/inheritances). I am advised by the Revenue Commissioners...

Written Answers — Tax Code: Tax Code (29 Nov 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the estimated full year gain from increasing the rate of Capital Gains Tax (CGT) from 25% to 30% is €83 million, and from 25% to 35% is €167 million. However, these estimates assume no behavioural changes on the part of taxpayers, and large increases in rates such as are contemplated in the question may have a significant behavioural impact....

Written Answers — Departmental Expenditure: Departmental Expenditure (29 Nov 2011)

Michael Noonan: As it has not been possible to compile a comprehensive reply for the Deputy in the time allotted, I will write to him shortly with the relevant information. The Office of the Revenue Commissioners and Office of Public Works will provide information directly to the Deputy. The National Treasury Management Agency is the State Claims Agency. As such it is responsible for managing personal...

Written Answers — Tax Code: Tax Code (29 Nov 2011)

Michael Noonan: With regard to comments made by the retail industry as regards VAT, I have announced that I will be proposing to Government an increase in the standard rate of VAT of 2 percentage points from 21% to 23%. This change is being introduced as part of a general package of revenue-raising measures to contribute to Exchequer funding and is in line with commitments made in the Programme for...

Written Answers — Tax Code: Tax Code (29 Nov 2011)

Michael Noonan: I am informed by the Central Statistics Office that the CSO institutional accounts do not give an indication of the number of households or persons classified by the categories of wealth they hold. These statistics are based on aggregate information collected from financial institutions and do not contain the demographic details which would enable such a breakdown of the statistics. I am...

Written Answers — Departmental Expenditure: Departmental Expenditure (29 Nov 2011)

Michael Noonan: Responsibility for central policy in relation to procurement matters rests with the Department of Public Expenditure and Reform. However, the information sought by the Deputy is not held centrally and accordingly I have copied the Deputy's question to all Government departments and asked that they respond directly to the Deputy. In the case of my own Department, the relevant information...

Written Answers — Government Appointments: Government Appointments (24 Nov 2011)

Michael Noonan: I presume the Deputy is referring to the nomination of Mr. Kevin Cardiff to the European Court of Auditors. The nomination process is underway in the European Parliament. The Government has been notified of the outcome of the vote by the European Parliament's Committee on Budgetary Control on the nomination and is taking the matter under consideration.

Written Answers — Tax Reliefs: Tax Reliefs (24 Nov 2011)

Michael Noonan: As the Deputy has stated the public consultation on "legacy" property-based tax reliefs undertaken by my Department concluded at the end of July. Over 700 submissions were made by individuals and organisations during the consultation period. The consultation formed a major part of the economic impact assessment on the potential effects of amending, curtailing and/or abolishing such reliefs...

Written Answers — Tax Reliefs: Tax Reliefs (24 Nov 2011)

Michael Noonan: I propose to take Questions Nos. 48, 50 and 51 together. Income Tax relief in respect of trade union subscriptions was abolished in Finance Act 2011. This was in line with a recommendation of the Commission on Taxation. The removal of this relief which previously applied to a large number of employees, suggested that, in order to provide a degree of equity, a similar measure should be...

Written Answers — Tax Reliefs: Tax Reliefs (24 Nov 2011)

Michael Noonan: Income Tax relief in respect of trade union subscriptions was introduced in 2001. In 2008, the relief was increased to €350, which equated to a €70 tax credit per annum for union members. The most recent year for which the necessary detailed information is available regarding tax relief for trade union subscriptions is the income tax year 2009, in which the cost to the Exchequer is...

Written Answers — Tax Code: Tax Code (24 Nov 2011)

Michael Noonan: The Finance (No. 2) Act 2011 provided for a second reduced VAT rate, of 9%, on a temporary basis in respect of certain tourism-related services and goods for the period 1 July 2011 to end 2013. This measure was estimated to cost €120 million in 2011, €350 million in 2012 and in 2013, and €60 million in 2014. Businesses must account for VAT at the 9% rate on these specified goods and...

Written Answers — House Repossessions: House Repossessions (24 Nov 2011)

Michael Noonan: I am informed by each of the covered institutions that the amount spent on legal fees in relation to house repossession cases in the period 2009 – 2011 is as follows: 2009 2010 2011 (to date) Total IBRC 1,378,440 1,643,542 1,161,068 4,183,050 AIB/EBS 822,985 677,567 593,175 2,093,727 BOI 67,000 262,000 206,000 535,000 ILP 21,000 24,000 90,000 137,000 2,289,425 2,607,109 2,050,243...

Written Answers — Tax Code: Tax Code (24 Nov 2011)

Michael Noonan: It is a long-standing practice of the Minister for Finance not to comment in advance of the Budget on any tax matters that might be the subject of Budget decisions.

Written Answers — Tax Code: Tax Code (24 Nov 2011)

Michael Noonan: With regard to the decision to charge VAT on entrance fees to historic houses and open farms, I have been informed by the Revenue Commissioners that fees charged for entry to historic houses, stately homes and gardens (collectively referred to as historic houses) and open farms were until recently treated as VAT exempt "lettings of immovable goods". This VAT exempt treatment followed a 1970s...

Written Answers — Pension Provisions: Pension Provisions (24 Nov 2011)

Michael Noonan: Under Section 9 of the Ministers and Secretaries (Amendment) Act, 2011 responsibility for all functions relating to public sector superannuation matters was transferred to the Minister for Public Expenditure and Reform, who has responsibility for the Superannuation Vote (Civil Service pensions) and for pensions payable from the Central Fund. The Paymaster General's Office in my Department...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (24 Nov 2011)

Michael Noonan: EBS is a wholly owned subsidiary of AIB and as the Deputy will be aware, notwithstanding the fact that the State is a 99.8% shareholder in AIB, the bank is run on a commercial arms length basis. The Government does not interfere in the day to day commercial decisions taken by the board and management of the bank including its product offerings. The matter referred to in the Deputy's...