Results 3,021-3,040 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Stability and Growth Pact (29 Sep 2016)

Michael Noonan: The fiscal rules to which Ireland is subject, including as part of the Stability and Growth Pact (SGP), are designed to ensure stable public finances that underpin sustainable economic growth. The Government's medium term fiscal strategy is to 'balance the books', which is defined in structural terms as a deficit of 0.5 per cent of GDP. This is Ireland's medium term objective or MTO...

Written Answers — Department of Finance: VAT Rate Application (29 Sep 2016)

Michael Noonan: The 9% reduced VAT rate for tourism related services was introduced in July 2011 as part of the Government Jobs Initiative. The measure was designed to boost tourism and create additional jobs in that sector. The tourism sector is a key sector in the Irish Economy and the introduction of the 9% VAT rate was aimed at reducing costs during a very challenging time for the sector. The objective...

Written Answers — Department of Finance: Illicit Trade (29 Sep 2016)

Michael Noonan: I am advised by Revenue, who are responsible for combatting smuggling, that action against this criminal activity is, and will continue to be, a central element of their work. I am advised that estimating the scale of any illegal activity and the tax loss to which it gives rise is necessarily difficult and that it is not possible, therefore, to attribute a value to the overall losses...

Written Answers — Department of Finance: Tax Reliefs Costs (29 Sep 2016)

Michael Noonan: I have recently published a proposed amendment to section 110 TCA 1997 which I intend to introduce in the Finance Bill.  I am informed by Revenue that it is not yet possible to accurately cost the measure.  This proposal was published on 6 September 2016, in draft form, in order to obtain constructive feedback and views from interested bodies. It should be noted that the tax...

Written Answers — Department of Finance: State Aid Investigations (29 Sep 2016)

Michael Noonan: On 30 August 2016, it was announced that the Commission had concluded their single investigation in Ireland and had issued a negative decision in the Apple State Aid case.  The investigation was a priority matter for the State.  Over the course of the three year investigation, detailed and comprehensive responses were provided to the Commission demonstrating that the...

Written Answers — Department of Finance: Ministerial Meetings (29 Sep 2016)

Michael Noonan: I have not had any formal meetings or correspondence with President Juncker on the Apple case since it was announced that the Commission had concluded their single investigation in Ireland and had issued a negative decision in the Apple State Aid case on 30 August 2016.  The investigation was a priority matter for the State.  Over the course of the three year investigation,...

Written Answers — Department of Finance: House Prices (29 Sep 2016)

Michael Noonan: A key priority for this Government is to develop a fully functioning housing market that responds adequately to the needs of our citizens. To this end the Deputy will be aware that the Government launched 'Rebuilding Ireland - The Action Plan for Housing and Homelessness' last July. Implementation of the plan is being led by the Minister Coveney at the Department for Housing,...

Written Answers — Department of Finance: Stability and Growth Pact (29 Sep 2016)

Michael Noonan: The fiscal rules, which apply under the Stability and Growth Pact (SGP), are intended to promote budgetary discipline. These rules were also given domestic legal effect through the Fiscal Responsibility Act 2012 following the passage of a constitutional referendum in May 2012 in which the Irish people supported accession to the Treaty on Stability, Coordination and Governance in the Economic...

Written Answers — Department of Finance: Economic Growth Rate (29 Sep 2016)

Michael Noonan: The Central Statistics Office (CSO) published the National Income and Expenditure results for 2015 in July which show that the economy grew by 26.3 per cent. This substantial upward revision is largely related to the activities of a small number of large multinational firms and reflects a number of exceptional factors which have limited impact on actual activity in the Irish economy. ...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Administration (29 Sep 2016)

Michael Noonan: As the Deputy will be aware, HRI provides a tax relief by way of an income tax credit on repair, renovation or improvements works on principal private residences or rental properties carried out by tax compliant contractors. HRI came into operation on 25 October 2013, with rental properties being brought within its scope from 15 October 2014. The scheme will run until 31 December 2016. In...

Written Answers — Department of Finance: Tax Code (29 Sep 2016)

Michael Noonan: My officials and their Revenue colleagues examined the responses received to this consultation exercise and one particular issue raised by a large proportion of the respondents was that of the non-resident non-executive director whose expenses were taxable. I was given to understand that this  created considerable problems for the FDI community, out of proportion to the financial aspects...

Written Answers — Department of Finance: Tax Exemptions (29 Sep 2016)

Michael Noonan: Land which has been let prior to being disposed of can qualify for capital gains tax (CGT) retirement relief in certain situations. One of these situations is where land has been let by an individual at any time in the period of 25 years before the disposal and the disposal is to a child of the individual. In order to qualify for relief, the land must have been owned by the individual and...

Written Answers — Department of Finance: Credit Union Regulation (29 Sep 2016)

Michael Noonan: The provision of regulation making powers to the Central Bank provides flexibility to allow the Central Bank in the future to review and update regulations as appropriate, on a timely basis following consultation. I have been informed by the Central Bank that they are keen to ensure that regulations remain appropriate for the credit union sector and in the future, where credit...

Written Answers — Department of Finance: Credit Union Regulation (29 Sep 2016)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual...

Written Answers — Department of Finance: Credit Union Regulation (29 Sep 2016)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of...

Written Answers — Department of Finance: Credit Union Services (29 Sep 2016)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of...

Written Answers — Department of Finance: Credit Union Data (29 Sep 2016)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of...

Written Answers — Department of Finance: Credit Union Services (29 Sep 2016)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit...

Written Answers — Department of Finance: Credit Union Regulation (29 Sep 2016)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of...

Written Answers — Department of Finance: Ministerial Meetings (29 Sep 2016)

Michael Noonan: I met with the UK Chancellor of the Exchequer in London on 22 September 2016. At this meeting, I set out the key issues for Ireland arising from the UK referendum on EU membership, while fully respecting the agreement at EU level that there will be no negotiations until the UK has triggered Article 50.  The key issues for Ireland have been articulated on numerous occasions by me and...