Results 2,541-2,560 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Small and Medium Enterprises Supports (11 Oct 2016)

Michael Noonan: Small and medium sized businesses play a central role in the sustainable recovery of the Irish economy.  Government policy is focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources.  As the Deputy will be aware, Chapter 7 (Finance for Growth) of this year's Action Plan for Jobs (APJ) sets out a...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Administration (11 Oct 2016)

Michael Noonan: As the Deputy is aware, the Home Renovation Incentive (HRI) was introduced in Budget 2014 and is scheduled to run until the end of December this year. The incentive provides tax relief for homeowners by way of an income tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence.  In Budget...

Written Answers — Department of Finance: House Purchase Schemes (11 Oct 2016)

Michael Noonan: The Government is conscious that there is a supply shortage of housing and of the challenges faced by first-time buyers in meeting the macro prudential rules for home loans. As a complement to the structural actions in 'Rebuilding Ireland - Action Plan on Housing and Homelessness' published on 19 July 2016, the introduction on Budget day of a new tax-based 'Help to Buy' incentive was...

Written Answers — Department of Finance: Tax Collection (11 Oct 2016)

Michael Noonan: I am advised by Revenue that contact was made with the person concerned to explain the tax treatment of the lump sum received and the possibility of a repayment of tax after the end of the year, subject to a claim by the person concerned to Revenue.

Written Answers — Department of Finance: Tax Residency (11 Oct 2016)

Michael Noonan: I am advised by Revenue that there is no test to determine tax residency as part of the Immigrant Investor Programme.   The legislation governing the tests to determine if an individual is Irish tax resident is found in Part 34 of the Taxes Consolidation Act 1997.  The residence and ordinary residence rules in the Act apply solely for tax purposes and do not have any other...

Written Answers — Department of Finance: Tax Code (11 Oct 2016)

Michael Noonan: The Programme for a Partnership Government recognises the difficulties faced by community and voluntary groups in relation to VRT rates on vehicles, and commits to examining the issue. However, it is a longstanding 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 — Department of Finance: Tax Credits (11 Oct 2016)

Michael Noonan: I am pleased to inform the Deputy that a Home Carer Tax Credit is already currently available to families where one parent works primarily in the home to care for children or the elderly.  Furthermore, I increased this credit in Budget 2016 to €1,000 and there is a commitment in the programme for Government to increase it further. In this regard, any further...

Written Answers — Department of Finance: Tax Code (11 Oct 2016)

Michael Noonan: I propose to take Questions Nos. 69, 79 and 83 together. 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...

Written Answers — Department of Finance: Banking Sector (11 Oct 2016)

Michael Noonan: It would not be appropriate for me to comment in detail on media speculation concerning the performance of an individual foreign bank. However, I can assure the Deputy that both my Department and the Central Bank are monitoring the situation very closely in collaboration with our EU colleagues.  In that respect my Department is not aware of any material financial...

Written Answers — Department of Finance: Tax Avoidance (11 Oct 2016)

Michael Noonan: I was surprised and disappointed to learn that the Brazilian Federal Revenue Service added Ireland to Brazil's tax black list.  I understand that the operation of the listing was initially backdated to 1 August but was subsequently suspended until 1 October.  No notice of this decision was given to the Irish Government by the Brazilian Federal Revenue Service. ...

Written Answers — Department of Finance: EU Budget Contribution (11 Oct 2016)

Michael Noonan: Until it formally withdraws from the Union, the UK remains a full EU Member, with all of its existing rights and obligations including in relation to the EU budget. Brexit is likely to involve complex discussion on the Multiannual Financial Framework, particularly as the UK is an important net contributor to the EU Budget. Therefore, Brexit will have a significant impact on EU Budget...

Written Answers — Department of Finance: Budget Targets (11 Oct 2016)

Michael Noonan: My Department's Budget 2017 macroeconomic forecasts incorporate a number of factors including the impact of budgetary measures at a macro level.  The macro-drivers are then applied to tax revenue base and assist along with other factors in the production of the tax revenue forecasts. Budgetary decisions are made factoring in all available data, including cross-border...

Written Answers — Department of Finance: VAT Rate Application (11 Oct 2016)

Michael Noonan: VAT is charged on the supply of goods and services, and the rate applying is subject to the requirements of EU VAT law with which Irish VAT law must comply.  While most tourist related services are subject to the 9% reduced VAT rate, it is not possible to extend this treatment to all tourist activity, such as beauticians working in the tourism industry. While hairdressing services...

Written Answers — Department of Finance: Banking Operations (11 Oct 2016)

Michael Noonan: I can confirm for the Deputy that I am aware of matter he has referred to. Notwithstanding the State's 14% minority shareholding in BOI, it should be noted that I in my role as the Minister for Finance, have no direct function in the relationship between the bank and its customers. Decisions taken by the bank in this regard are matters for the board and management of the...

Written Answers — Department of Finance: Banking Sector Regulation (11 Oct 2016)

Michael Noonan: Irish Collective Asset-management Vehicles ("ICAVs") are corporate entities which may only operate as regulated collective investment schemes ("funds"); either Undertakings for Collective Investment in Transferable Securities ("UCITS") or as Alternative Investment Funds ("AIFs").  The ICAV is one of a range of legal structures available only to managers...

Written Answers — Department of Finance: Tax Credits (11 Oct 2016)

Michael Noonan: I am advised by Revenue that the person concerned had her tax credits reduced to reflect the fact that she was in receipt of  Maternity Benefit, Job Seekers Benefit and One Parent Family Payment. Revenue would expect that, notwithstanding the reduction in tax credits, based on her current earnings the person would not be due to pay tax. Revenue will make direct contact with the...

Written Answers — Department of Finance: Tobacco Control Measures (11 Oct 2016)

Michael Noonan: I understand that the European Union (Manufacture, Presentation and Sale of Tobacco and Related Products) Regulations 2016, made by my colleague the Minister for Health, will require that retail packets of roll-your-own tobacco contain tobacco weighing not less than 30 grams. Enforcement of compliance with this requirement will be a matter primarily for the Health Services Executive. The...

Written Answers — Department of Finance: Social Insurance Rates (11 Oct 2016)

Michael Noonan: The Department of Social Protection estimates that the yield in a full year from increasing the Class A employer PRSI rate by 3% from 10.75% to 13.75% on the portion of salary paid in excess of €100,000 per annum would be €198.8 million. This estimate is based on macro-economic indicators for 2017 only, and based on changes to social insurance contributions paid under PRSI...

Written Answers — Department of Finance: Insurance Costs (11 Oct 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I, nor the Central Bank of Ireland, have the power to direct insurance companies on the pricing of insurance products. The EU framework for insurance expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval...

Written Answers — Department of Finance: Tax Credits (11 Oct 2016)

Michael Noonan: The legislation governing entitlement to the incapacitated child tax credit is contained in section 465 of the Taxes Consolidation Act 1997, as amended.  In broad terms, the credit is available to a parent who has custody of and maintains a child who is permanently incapacitated by reason of mental or physical infirmity.  The cost of this tax credit in 2014, the most recent year for...