Results 3,081-3,100 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Application (27 Sep 2016)

Michael Noonan: Tax relief in respect of health expenses is provided for in section 469 of the Taxes Consolidation Act 1997. Section 469 defines "health expenses" to mean "expenses in respect of the provision of health care including the services of a practitioner".  A practitioner is defined in the section as "any person who is (a) registered in the register established under section 43 of the...

Written Answers — Department of Finance: Tax Code (27 Sep 2016)

Michael Noonan: I have been advised by Revenue that the solicitor representing the deceased person submitted the grant of probate and sought Revenue clearance in the matter on 13thSeptember 2016. Revenue will be in contact with the solicitor very shortly to discuss and finalise any tax matters that may arise. This will then facilitate the necessary clearance issuing from Revenue.

Written Answers — Department of Finance: Departmental Legal Cases Data (27 Sep 2016)

Michael Noonan: There has been no engagement with private law firms in this case. The legal case has been undertaken by the Attorney General's Office who have engaged legal counsel as appropriate. Notwithstanding an appeal in this case, Ireland is required by law to recover the alleged State aid from the company.  This process involves recovering additional tax payments over a ten-year period in...

Written Answers — Department of Finance: State Aid Investigations (27 Sep 2016)

Michael Noonan: I understand that the Deputy has clarified to my Department that this question relates only to State Aid opinions. I am informed by the EU Commission that the list below contains all notified (procedure N) Irish cases which were registered in the last 10 years, and which concern tax related State Aid measures. Applications for some of these cases would have been progressed by other...

Written Answers — Department of Finance: Revenue Commissioners (27 Sep 2016)

Michael Noonan: I am advised by Revenue that it does not charge customers for the services it provides, whether via telephone or other channels. Charges are levied by the telecom providers. The cost of the call from a mobile telephone is, in fact, shared between the caller and Revenue, as is the norm with most LoCall telephone services.  Calls from landlines to 1890 numbers are charged at...

Written Answers — Department of Finance: Tax Reliefs Availability (27 Sep 2016)

Michael Noonan: I am advised by Revenue that the flat rate deductions which apply to teachers may be found on the Revenue published list, available from the Revenue website at the following link: There are two separate deduction rates which apply to physical education (PE) teachers and they apply equally to primary and secondary teachers.  The first deduction rate applies to full time PE teachers while...

Written Answers — Department of Finance: Banking Sector (27 Sep 2016)

Michael Noonan: In 2015, Sparkassenstiftung für Internationale Kooperation (Savings Banks Foundation for International Cooperation - SBFIC), with the support of the Public Banking Forum of Ireland, submitted a proposal to the Department of Finance regarding the development of a local public banking system in Ireland. This proposal was considered in detail by officials in my Department and there was...

Written Answers — Department of Finance: Banking Sector (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 157 and 158 together. I refer the Deputy to my response to her previous question on local public banking. The Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs has primary responsibility for the Programme for Government commitment to investigate the German Sparkassen model for the development of local public banks....

Written Answers — Department of Finance: Tax Reliefs Application (27 Sep 2016)

Michael Noonan: I have no plans to introduce a system of tax incentives to assist elite athletes to attract sponsorship. The Deputy may be aware that the State already provides support to athletes both directly and indirectly, and my colleague the Minister for Transport, Tourism, and Sport has responsibility for such support. I would draw the Deputy's attention to...

Written Answers — Department of Finance: Tax Yield (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 160 and 191 together. 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...

Written Answers — Department of Finance: National Treasury Management Agency (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 161 and 162 together. I am advised by the National Treasury Management Agency (NTMA) that it does not speculate about the interest rates at which it could potentially issue debt. The number of variables that impact interest rates including yields in other markets at the time; the demand for the relevant maturity at a point in time; and the size of the issue...

Written Answers — Department of Finance: General Government Debt (27 Sep 2016)

Michael Noonan: The most recent official forecast of general government debt (GGD) for 2016, published in the Stability Programme Update in April 2016, was €203.8 billion, which equated to 88.2% of GDP. The impact of an additional €10 billion in borrowing would increase this debt to GDP ratio by 4.4 percentage points to 92.6%. New macroeconomic and...

Written Answers — Department of Finance: NAMA Portfolio (27 Sep 2016)

Michael Noonan: The Deputy will appreciate that NAMA does not own or sell properties.  It has acquired loans and its relationship to the properties securing those loans is, like a bank, that of a secured lender.  NAMA is bound by both statutory and contractual obligations of confidentiality. Neither NAMA nor I can comment on individual cases. Specifically, NAMA is subject to similar...

Written Answers — Department of Finance: Pension Provisions (27 Sep 2016)

Michael Noonan: Finance Act 2013 introduced Section 782A of the Taxes Consolidation Act 1997 which provided members of occupational pension schemes with a once-off opportunity to access up to 30% of their Additional Voluntary Contributions (AVCs) prior to retirement. The option was available for a three year period from 27 March 2013, the date that Finance Act 2013 was passed into law, and came to an end on...

Written Answers — Department of Finance: Tax Exemptions (27 Sep 2016)

Michael Noonan: I am advised by Revenue that section 112B of the Taxes Consolidation Act 1997 provides that employers may provide tax free benefits to employees once a year provided the benefit does not exceed €500 in value and is not in the form of cash.  This new exemption replaces the previous concession operated by Revenue known as the small benefits exemption which applied to benefits up to...

Written Answers — Department of Finance: Banking Sector (27 Sep 2016)

Michael Noonan: As the deputy is aware, significant progress has been made across the Irish banking sector in reducing the level of non-performing loans (NPLs) since the financial crisis. This has been primarily achieved by customers engaging directly with their banks and agreeing a sustainable payment plan which allows the customer an achievable path out of arrears, as well as protecting the value of the...

Written Answers — Department of Finance: Tax Reliefs Availability (27 Sep 2016)

Michael Noonan: As the Deputy will be aware, an Earned Income Credit to the value of €550 has been in operation since January this year and is available to those with earned income who do not have access to the PAYE credit. This is of potential benefit to all self-employed individuals including farmers, foresters, fishermen and small food processors, where they have sufficient income. ...

Written Answers — Department of Finance: Tax Code (27 Sep 2016)

Michael Noonan: The current rate of excise duty applied to a litre of argicultural diesel is 10.2c per litre while the current rate of excise applied to auto-diesel is 47.9c per litre.  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: Corporation Tax Regime (27 Sep 2016)

Michael Noonan: I was surprised and disappointed to learn that the Brazilian Federal Revenue Service have added Ireland to Brazil's tax black list.   I understand that the operation of the listing was initial backdated to 1 August but now has been suspended until 1 October.  If Ireland remains on the list, I understand that there would be some Brazilian tax implications on payments flowing...

Written Answers — Department of Finance: Tax Yield (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 174 and 177 together. Bottled water is subject to the standard VAT rate which is currently 23%. The standard rate is the VAT rate applied to bottled water in the majority of EU Member States.  Prior to 1992 bottled waters and fruit juices had applied at the zero rate, but were made subject to the standard rate from 1 November 1992 in order to correct...