Results 2,341-2,360 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Help-To-Buy Scheme (2 Nov 2016)

Michael Noonan: I assume the Deputy is asking for all persons or organisations that I or my officials consulted with, rather than all those who raised the Help to Buy scheme with me. As the Deputy will appreciate, I met with a range of bodies prior to the Budget, as part of the annual pre Budget submission and meeting process, and many of these bodies would have raised requests for a scheme to assist with...

Written Answers — Department of Finance: Help-To-Buy Scheme (2 Nov 2016)

Michael Noonan: Under the Help to Buy initiative, subject to satisfying the full conditions of the scheme, a first time purchaser will be entitled to claim a refund of income tax and DIRT paid over the previous four years.  The terms of the scheme are set out in Finance Bill 2016.  The refund will be subject to a maximum of 5% of the purchase price of a new home, or in the case of a self-build...

Written Answers — Department of Finance: Budget Measures (2 Nov 2016)

Michael Noonan: I can confirm that there are no measures in Finance Bill 2016 which require EU approval, nor are there any Finance Bill measures from previous years for which EU approval is pending.

Written Answers — Department of Finance: Tax Code (2 Nov 2016)

Michael Noonan: I am informed by Revenue that a double taxation treaty between Ireland and the UK provides for the relief of double taxation in respect of inheritances that are taxed in both jurisdictions. The treaty is based on the credit method of relief, i.e. both countries impose tax on inheritances under their own domestic law and, in relation to property, the country where the property is situated...

Written Answers — Department of Finance: Knowledge Development Box (2 Nov 2016)

Michael Noonan: The European Commission's proposal for a Common Consolidated Corporate Tax Base was published on 25 October.  This is a Commission proposal which has not yet been discussed or considered by Member States.  The proposal will now be discussed by Member States and it is likely to be subject to significant reshape and renegotiation as these discussions progress.  These discussions...

Written Answers — Department of Finance: Interdepartmental Working Groups (2 Nov 2016)

Michael Noonan: An Inter-Departmental Flood Policy Co-ordination Group has been established to examine the issue of flooding, and to ensure a whole of Government approach in the area of Flood Policy. This Group is chaired by Seán Canney TD, Minister of State with special responsibility for the OPW and Flood Relief. The OPW are the lead agency and have responsibility for co-ordinating and submitting...

Written Answers — Department of Finance: Property Tax Collection (2 Nov 2016)

Michael Noonan: I am advised by Revenue that the person concerned failed to pay either his 2015 or 2016 Local Property Tax (LPT) liabilities totalling €630, excluding interest, despite receiving a number of notifications reminding him to do so. As a consequence the debt was referred to the Sheriff for collection. The person concerned subsequently paid the 2015 liability to the Sheriff and...

Written Answers — Department of Finance: Credit Union Regulation (2 Nov 2016)

Michael Noonan: In tandem with my commencement on 1 January 2016 of the final sections of the Credit Union and Co-operation with Overseas Regulators Act 2012 providing regulation making powers to the Central Bank, the Central Bank introduced new regulations - the Credit union Act 1997 (Regulatory Requirements) Regulations 2016 (the Regulations). The Regulations set out,inter alia,an individual...

Written Answers — Department of Finance: VAT Yield (2 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 110 and 111 together. I am advised by Revenue that, based on Personal Expenditure Consumption (PCE) data, an estimate of the VAT yield and the VAT foregone at the reduced rate of 9% for each year from 2011 to 2016 is provided in the table below.  As 2016 PCE data are not yet available, figures provided for 2016 are provisional estimates. Year Yield 9%...

Written Answers — Department of Finance: VAT Rate Reductions (2 Nov 2016)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Article 98 of the EU VAT Directive limits to two the number of reduced rates a Member State may have.  Since Ireland has two reduced rates, the 13.5% and the 9% rate, it would not be possible to introduce a third reduced rate for a category of construction activities....

Written Answers — Department of Finance: Departmental Legal Costs (2 Nov 2016)

Michael Noonan: The information requested by the Deputy is contained in the following table and is taken from the information already published on my Department's website. External Legal Advice 2015 Alexander Caffrey €24,364 Aoife Goodman €55,052 Arthur Cox €934,654 Dillon Eustace €36,900 Emma Doyle €20,139 GEON Legal Solutions €120,036 Hayes Solicitors...

Written Answers — Department of Finance: Vehicle Registration (2 Nov 2016)

Michael Noonan: The provisions relating to temporary exemption are set out in section 135 of the Finance Act 1992 (as amended). The administration of these provisions (and, indeed, the administration of all tax legislation) is a function independently carried out by Revenue and I cannot instruct them in how to apply legislative provisions either on a case-by-case basis or in a general way. The case referred...

Written Answers — Department of Finance: EU Funding (2 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 115 and 116 together. The Strategic Banking Corporation of Ireland's (SBCI) objective is to increase the availability of low cost, flexible credit to Irish SMEs. The SBCI published its first Annual Report and Accounts, for the period 1 September 2014 to 31 December 2015, on 21 July 2016. The Annual Report and Accounts were sent by the board of the SBCI...

Finance Bill 2016: Referral to Select Committee (27 Oct 2016)

Michael Noonan: I move:That the Bill be referred to the Select Committee on Finance, Public Expenditure, Reform, and Taoiseach pursuant to Standing Orders 84A(3)(a) and 149(1) of the Standing Orders relative to Public Business.

Finance Bill 2016: Second Stage (Resumed) (27 Oct 2016)

Michael Noonan: My reply will attempt to address points raised by Deputies in the debate but they will appreciate that time will not permit me to respond to everything. Deputy Michael McGrath suggests that there is no evidence yet of a coherent response by Government to the threat of a hard Brexit. This point was made also by both Deputies Doherty and Burton, but I would advise them that our planning ahead...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Michael Noonan: I welcome the opportunity to brief the committee on the Government’s priority legislation concerning the Financial Services Ombudsman and the Pensions Ombudsman. The purpose of these heads of Bill is to provide for the amalgamation of the Financial Services Ombudsman and Pensions Ombudsman and to update the legislation generally on their roles and responsibilities. The Government...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Michael Noonan: I thank Deputy Pearse Doherty for his very constructive contribution. There is a great similarity between the intent of both Bills and the actual working out of the heads. I assume the committee will invite a number of witnesses to contribute to the discussion on both Bills today and will generate a report. When we receive it, the best way forward might be for my officials to discuss the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Michael Noonan: I thank the Deputy.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Michael Noonan: Sometimes it is not possible to lodge a complaint within the six-year period. In the case of something like a tracker mortgage, an incorrect interest rate may not have come to the notice of the complainant and he or she may not know there were valid grounds for complaint within a six-year period. The three-year period is to allow a further period of time after it became apparent to the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Michael Noonan: Deputy Sherlock knows quite well that the heads contain the principle. There is an issue in that we have to find a space between allowing a three-year period at any stage in the process or tying it back in to when a person looking after his or her affairs would be expected to know that a wrong was perpetrated on that person that could be the subject of a complaint. It cannot be totally...