Results 2,381-2,400 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Foreign Earnings Deduction (27 Oct 2016)

Michael Noonan: The Foreign Earnings Deduction (FED) provides for a deduction from income for income tax purposes of up to a maximum of €35,000 for employees who travel to qualifying countries as part of the duties of their employment. The deduction is proportional in that it is calculated based on the number of days spent abroad, the salary of the employee and the length of the employment. The...

Written Answers — Department of Finance: VAT Rate Application (27 Oct 2016)

Michael Noonan: The VAT rating of goods and services is subject to EU VAT law, primarily Council Directive 2006/112/EC, with which Irish VAT law must comply. The Directive generally provides that supplies of goods and services be chargeable to VAT at the standard rate but that lower rates are permitted in very limited circumstances. The Directive provides that reduced rates may apply to supplies of goods...

Written Answers — Department of Finance: Tax Reliefs Eligibility (26 Oct 2016)

Michael Noonan: I announced the Help to Buy scheme on Budget day and the full details of the scheme were published last week in Finance Bill 2016.  The scheme will operate on the basis of a rebate of income tax paid and will not be grant based. In order for a first-time buyer to be eligible for the scheme, he or she must have signed a contract to purchase a new residence on or after 19 July...

Written Answers — Department of Finance: Property Ownership (26 Oct 2016)

Michael Noonan: I am advised by Revenue that an additional breakdown of the number of persons owning multiple properties, excluding Approved Housing Bodies, is not available as such entities are not separately identifiable on Revenue records.  To accurately identify all of Approved Housing Bodies would require a manual examination of Revenue LPT and other tax records. Revenue is not in position to...

Written Answers — Department of Finance: Help-To-Buy Scheme (26 Oct 2016)

Michael Noonan: The commencement date for the Help to Buy scheme of 19 July 2016 was chosen as it was the date of the launch of 'Rebuilding Ireland - Action Plan for Housing and Homelessness', in which the development of such a scheme for inclusion in the Budget was initially announced. The intention to backdate this tax incentive to this date was announced at that time with a view...

Written Answers — Department of Finance: Mortgage Interest Rates (26 Oct 2016)

Michael Noonan: In the case of the bank noted even though customers may accept full redress, they retain the right to appeal the matter to appeal panels established for that purpose.  The bank has informed me that there are two appeal panels, an Independent Appeals Panel for loss of ownership cases and cases which have ever been the subject of legal action and a Customers...

Written Answers — Department of Finance: VAT Rate Application (26 Oct 2016)

Michael Noonan: The VAT rating of goods and services is subject to EU VAT law, primarily Council Directive 2006/112/EC, with which Irish VAT law must comply.  In accordance with the Directive, Irish legislation applies the standard rate 23% of VAT to audio books. There are no VAT exemptions for audio books; however, there is a VAT Refund Order in place (Refund Order (No.15) 1981) which provides for...

Written Answers — Department of Finance: Property Tax Data (26 Oct 2016)

Michael Noonan: I am advised that the breakdown of properties availing of the deferral optional under Part 12 of the Finance (Local Property Tax) Act 2012 (as amended) is provided in the table below. The breakdown has been compiled on the basis of Local Authority, the manner in which properties are categorised in Revenue's LPT register. A breakdown by Dublin postal district is not available. These data...

Written Answers — Department of Finance: Economic Data (26 Oct 2016)

Michael Noonan: My Department's forecasts for growth in real GDP and GNP are included in table 3 of the Fiscal and Economic Outlook (page c.13). These measures of economic output are adjusted for price changes i.e. inflation or deflation, and as a result provide a more accurate measure of economic growth than nominal metrics. Nominal GDP forecasts have been reported in Budget 2017 as EU Member States...

Finance Bill 2016: Order for Second Stage (25 Oct 2016)

Michael Noonan: I move: "That Second Stage be taken now."

Finance Bill 2016: Second Stage (25 Oct 2016)

Michael Noonan: I move: "That the Bill be now read a Second Time." As I said in my 2017 Budget Statement, the country has overcome significant challenges which many thought were insurmountable. The lessons of this challenging period must not be forgotten. There is a need to manage the public finances effectively and fairly for the benefit of all. In the programme for Government we decided to favour...

Written Answers — Department of Finance: VAT Exemptions (25 Oct 2016)

Michael Noonan: In general, the services provided by a doctor, including a locum doctor, to a patient in relation to the diagnosing, treating or alleviating an ailment is exempt from VAT. Therefore there is no VAT on the fee charged to the patient by the doctor providing the service regardless of whether the doctor is an employee, self-employed or a partner in a medical practice. In general, the tax...

Written Answers — Department of Finance: Tax Code (25 Oct 2016)

Michael Noonan: The basis for the current tax treatment of married couples derives from the Supreme Court decision in Murphy vs. Attorney General (1980). This decision was based on Article 41.3.1 of the Constitution where the State pledges to protect the institution of marriage. The decision held that it was contrary to the Constitution for a married couple, both of whom are working, to pay more tax than two...

Written Answers — Department of Finance: Help-To-Buy Scheme (25 Oct 2016)

Michael Noonan: I propose to take Questions Nos. 163, 176 and 177 together. To be eligible for the Help to Buy scheme, a first-time buyer must sign a contract to purchase a new residence on or after 19 July 2016 and on or before 31 December 2019.  In the case of a person constructing a new residence on their own behalf (self-build), the first-time buyer must draw down the first tranche of...

Written Answers — Department of Finance: Aer Lingus Sale (25 Oct 2016)

Michael Noonan: As the Deputy will be aware, the Connectivity Fund was formed to invest the €335 million proceeds from the sale of the State's shareholding in Aer Lingus with the aim of enabling and enhancing Ireland's physical, virtual and energy connectivity. The establishment of the Connectivity Fund reflected the consistent policy of the Government that proceeds received from the sale of assets...

Written Answers — Department of Finance: Financial Services Ombudsman Data (25 Oct 2016)

Michael Noonan: At the outset, I must point out that the Financial Services Ombudsman is independent in the carrying out of his duties.  I have no role in the day to day workings of the office or in the decisions which he takes. I have been advised by the Financial Services Ombudsman Bureau (FSOB) that given the breadth and number of both insurance products and contractual terms raised by...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (25 Oct 2016)

Michael Noonan: As the Deputy will be aware, the Connectivity Fund was formed to invest the €335 million proceeds from the sale of the State's shareholding in Aer Lingus with the aim of enabling and enhancing Ireland's physical, virtual and energy connectivity. Due to commercial sensitivities, the ISIF does not comment on transactions that may or may not be under consideration or in progress....

Written Answers — Department of Finance: Living City Initiative (25 Oct 2016)

Michael Noonan: As the Deputy will be aware, the Living City Initiative was enacted in the Finance Act 2013 and commenced on 5th May 2015. The Initiative was extended beyond the original planned pilot cities of Limerick and Waterford, to include the cities of Dublin, Cork, Galway and Kilkenny. In line with my Department's commitment to evidence based policy-making, the inclusion of these additional four...

Written Answers — Department of Finance: Help-To-Buy Scheme (25 Oct 2016)

Michael Noonan: The commencement date for the Help to Buy scheme of 19 July 2016 was chosen as it was the date of the launch of 'Rebuilding Ireland - Action Plan for Housing and Homelessness', in which the development of such a scheme for inclusion in the Budget was initially announced. The intention to backdate this tax incentive to this date was announced at that time with a view...

Written Answers — Department of Finance: Home Repossessions Rate (25 Oct 2016)

Michael Noonan: The following table presents aggregated data on property repossessions published by the Central Bank, including details of Primary Dwelling Home (PDH) and Buy-to-Let (BTL) properties taken into possession through Court Order, Voluntary Surrender or Abandonment by the borrower.  This data is published by the Central Bank and is available on their website at . On the question of...