Results 2,401-2,420 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: EU Budget Contribution (25 Oct 2016)

Michael Noonan: EU Budget payments and public sector receipt data are published annually by the Department of Finance in the Budget Statistics bulletin. The latest edition from October 2015 contains the data up to 2014. Data for 2015 will be published in the near future. The public sector receipt measure captures funds under 'shared management' between national and EU authorities. In addition, the...

Written Answers — Department of Finance: National Car Test (25 Oct 2016)

Michael Noonan: I am informed by Revenue that an increase in the volume of applications to the NCT for vehicle registrations has resulted recently in some increase in waiting times. As part of a wider solution to address this, extra VRT capacity has been added to a number of NCTS centres to deal with the increased demand and a VRT function is being added to the Deansgrange NCTS Centre in November to allow...

Written Answers — Department of Finance: State Aid (25 Oct 2016)

Michael Noonan: On 30 August 2016, the European Commission issued a negative Decision in the Apple State Aid case. As a result, Ireland has been instructed by the European Commission to recover the alleged state aid from the company covering a ten year period. The Commission has estimated that the amount is up to €13bn, but the exact quantum is to be determined by the Irish authorities. ...

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

Michael Noonan: The Start Your Own Business scheme provides for relief from Income Tax for long term unemployed individuals who start a new business. The scheme provides an exemption from Income Tax on profits of up to a maximum of €40,000 per annum for a period of two years to individuals who set up a qualifying business, having been unemployed for a period of at least 12 months prior to...

Written Answers — Department of Finance: Pension Levy (25 Oct 2016)

Michael Noonan: I am advised by Revenue that the Pension Scheme Levy was introduced in 2011. For the years 2011, 2012 and 2013 the rate was 0.60% of the scheme assets. For the year 2014 the rate was 0.75% of the assets and for the year 2015, the final year of the levy, the rate was 0.15%. Under the legislation, the payment of the levy is treated as a necessary expense of a pension scheme and the trustees or...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Management (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: Corporation Tax Regime (25 Oct 2016)

Michael Noonan: Companies located in the IFSC are subject to the normal tax regime, with any trading income of such companies subject to corporation tax at the rate of 12.5% and passive income such as investment or rental income subject to corporation tax at 25%. The Finance Act 1986 introduced a scheme of tax reliefs, both capital allowances and double rent relief, aimed at encouraging the redevelopment of...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (25 Oct 2016)

Michael Noonan: The provision of low cost, flexible finance to SMEs is a priority for this Government. The Strategic Banking Corporation of Ireland (SBCI) was established in 2014 to increase the availability of funding to SMEs at a lower cost and on more flexible terms than has been available in recent times on the Irish market. It is encouraging to note that to the end of June 2016, the SBCI has lent...

Written Answers — Department of Finance: Ministerial Functions (25 Oct 2016)

Michael Noonan: I am interpreting this question as referring to a Delegation of Ministerial Functions Order which is provided for under section 2 (1) of the Ministers and Secretaries (Amendment) (No. 2) Act 1977. This provides for the delegation to a Minister of State assigned to the Department of State of which the Minister of the Government has charge statutory powers and duties of such Minister of the...

Written Answers — Department of Finance: Credit Unions (25 Oct 2016)

Michael Noonan: I propose to take Questions Nos. 181 and 186 together. The agreed Programme for a Partnership Government recognises the potential role that credit unions can play in housing finance and supports the efforts of the Registrar of Credit Unions at the Central Bank to gradually lift current lending restrictions as appropriate, including for housing. The Programme further provides that it...

Written Answers — Department of Finance: Budget Measures (25 Oct 2016)

Michael Noonan: The Deputy will be aware that the Help to Buy Scheme announced on Budget day is intended to assist first-time buyers with obtaining the minimum deposit required under the Central Bank's macro prudential rules. The buyers that the Deputy refers to would already have sufficient cash resources to meet those requirements, except in cases where the operation of the loan to income aspect of...

Written Answers — Department of Finance: Home Renovation Incentive Scheme (25 Oct 2016)

Michael Noonan: The Home Renovation Incentive (HRI) provides for an income tax credit for homeowners or landlords who carry out repair, renovation or improvement work on their property. The aim of the Incentive is to support tax compliant building contractors by moving activity out of the shadow economy into the legitimate economy. The Incentive was introduced in October 2013. It provides for tax...

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

Michael Noonan: I am informed by Revenue that the cost of claims for tax relief on health expenses for the years 2012 to 2014, the most recent tax year for which data are currently available, is located on the Revenue Commissioners' webpage at . Updates will be published in due course. I am also informed by Revenue that the breakdown sought by the Deputy is not available, as health expenses claims are not...

Written Answers — Department of Finance: Mortgage Interest Relief Extension (25 Oct 2016)

Michael Noonan: Section 244 of the Taxes Consolidation Act 1997 provides for tax relief in respect of interest paid on qualifying home loans taken out between 1 January 2004 and 31 December 2012 and used by an individual for the purchase, repair, development or improvement of a principal private residence. Single individuals and married couples/civil partners that are first-time buyers, qualify for mortgage...

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

Michael Noonan: I presume that the Deputy is referring to distance selling in the EU where goods are sold over the internet on behalf of a supplier in one Member State to a customer, not registered for VAT, in another Member State. VAT is governed by the EU VAT Directive (Council Directive 2006/112/EC), with which Irish VAT law must comply. Irish legislation, in compliance with the Directive, provides...

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

Michael Noonan: I propose to take Questions Nos. 188 to 190, inclusive, together. Section 890 of the Taxes Consolidation Act 1997 requires any person, in receipt of income or other amounts belonging to another person from third parties, to submit a return of these details to the Revenue Commissioners in the prescribed form (Form 8-2). Details must be provided where the income or other amounts exceed...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Discussion (20 Oct 2016)

Michael Noonan: I am grateful for the invitation to participate in the committee's pre-legislative scrutiny of the Bill, which has been proposed by Deputy McGrath. I look forward to working with the committee and contributing to its important work. There is a responsibility on all of us to critically, but also fairly, evaluate all proposed legislation coming before the Oireachtas, irrespective of whatever...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Discussion (20 Oct 2016)

Michael Noonan: I have full confidence in the Deputy.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Discussion (20 Oct 2016)

Michael Noonan: The Central Bank has not updated the opinion. There is nothing more recent. As the Deputy said, he is taking legal advice on the other question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Discussion (20 Oct 2016)

Michael Noonan: The Second Stage debate in the Dáil was very useful and the inputs were coming form Deputies who were very well informed about the personal problems individual mortgage holders had and the general issue. The Deputy is right that there was a desire not to have a Government defeat so early in the life of the Government. There was also an agreement on the principle of the Bill. Everybody...