Results 4,141-4,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (24 May 2016)

Michael Noonan: I propose to take Questions Nos. 108 to 110, inclusive, together. I am advised by the Revenue Commissioners that the Revenue Statistics web page contains detailed statistical information on Capital Acquisitions Tax (CAT) and other taxes. A breakdown of CAT net receipts, including inheritance tax, is shown at: . Information on tax expenditures, including in relation to Agricultural Relief and...

Written Answers — Department of Finance: VAT Rate Application (24 May 2016)

Michael Noonan: I am advised by the Revenue Commissioners that the transport of passengers and their accompanying baggage is exempt from VAT in Ireland under paragraph 14(3) of Schedule 1 to the VAT Consolidation Act 2010 as amended. Therefore, the services of bus transport operators are exempt from VAT. Persons whose services are exempt from VAT are not required to register for VAT or charge VAT on the...

Written Answers — Department of Finance: VAT Rebates (24 May 2016)

Michael Noonan: I am advised by Revenue that the person concerned applied for tax relief under the Disabled Drivers and Passengers Scheme in respect of a change of car. This application has been approved and an exemption notification will be available to download by the person concerned on 10 June 2016. The delay in availability of the exemption is due to the fact that beneficiaries of the scheme are...

Written Answers — Department of Finance: Banking Sector (24 May 2016)

Michael Noonan: As the Deputy is aware, markets react quickly to new information as and when it becomes available. In relation to the current issue, the key date was 9 May when there was wide media coverage including an article in the Irish Times which reported that the Deputy "hopes to publish a Bill within two weeks which will propose giving the Central Bank extra powers to help it to coerce...

Written Answers — Department of Finance: Capital Expenditure Programme (24 May 2016)

Michael Noonan: As detailed in Parliamentary Question (PQ) Number 202 (of 17/05/2016), under the expenditure benchmark, only investment in Gross Fixed Capital Formation (GFCF), based on the annual general government GFCF out-turn as produced by the Central Statistics Office, is permitted to be averaged over a four year period by the European Commission. Capital expenditure not defined as GFCF...

Written Answers — Department of Finance: NAMA Portfolio (24 May 2016)

Michael Noonan: I would advise the Deputy that NAMA does not own property.  NAMA acquired loans and its relationship to property is that of a secured lender; the same, for example, as AIB or Bank of Ireland. In that capacity, NAMA holds security over properties that are owned by its debtors or, in the case of enforcement, which are managed on behalf of those debtors by duly appointed insolvency...

Written Answers — Department of Finance: Tax Code (24 May 2016)

Michael Noonan: I am advised by the Revenue Commissioners that gifts and inheritances of agricultural property, including land, qualify for relief (known as 'agricultural relief') from the payment of Capital Acquisitions Tax (CAT) once certain conditions are satisfied. Section 89 of the Capital Acquisitions Tax Consolidation Act (CATCA) 2003 provides for 'agricultural relief'. The relief takes the form of a...

Written Answers — Department of Finance: Tax Credits (24 May 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.  The legislation provides that an individual is entitled to the tax credit for a year if he or she proves that at any time during that year he or she had a child living who is under 18 years of age and is permanently incapacitated by...

Written Answers — Department of Finance: Revenue Commissioners (24 May 2016)

Michael Noonan: I am advised by Revenue that its clear preference is to engage with taxpayers experiencing tax payment difficulties and agree mutually acceptable solutions rather than deploying debt collection/enforcement sanctions to secure payment of outstanding liability. However, such engagement is dependent on open and honest discussion by the taxpayer, including a clear commitment to agree a solution....

Written Answers — Department of Finance: Financial Services Regulation (24 May 2016)

Michael Noonan: The Central Bank and Financial Services Authority of Ireland Act, 2004, amended Part IIIC of the Central Bank Act, 1942, the Administrative Sanctions Procedure (ASP), to provide that where a monetary penalty is imposed on a financial service provider or person concerned in the management of a financial service provider, that provider or other person is not liable to be prosecuted or...

Written Answers — Department of Finance: Cycle to Work Scheme (24 May 2016)

Michael Noonan: The Cycle To Work Scheme came into operation on 1 January 2009. With a view to keeping the Scheme simple and reducing administration on the part of employers, there is no notification procedure for employers involved. Accordingly, the Revenue Commissioners do not have statistics on the uptake of the Scheme and there are no figures available either for the cost to the Exchequer or the number...

Written Answers — Department of Finance: GDP-GNP Levels (24 May 2016)

Michael Noonan: The following table sets out the requested publicly available data, as published by the Central Statistics Office (CSO), on an annual basis, at current market prices. 2011 2012 2013 2014 2015 Gross Fixed Capital Formation (GFCF) (€m) 29,921 33,450 31,677 36,511 47,249 - of which Intangible Investment (€m) 9,665 11,794 9,585 9,786 20,442 GDP (€m) 173,940...

Written Answers — Department of Finance: NAMA Operations (24 May 2016)

Michael Noonan: I propose to take Questions Nos. 122 and 123 together. It will be a decision for the Government as to how any surplus returned by NAMA when it has completed its work will be utilised. As per section 60(2) of the NAMA Act 2009, NAMA may use surplus funds to redeem and cancel its debt.  Surplus funds remaining after this redemption may only be returned to the Central...

Written Answers — Department of Finance: NAMA Portfolio (24 May 2016)

Michael Noonan: The information sought by the Deputy was recently provided in response to Parliamentary Question 72 of 14 April 2016, which is available from the Oireachtas website.  The relevant elements of that response are set out below for the Deputy's ease of reference, and provides a county by county breakdown of residential development land within NAMA's portfolio....

Written Answers — Department of Finance: Social Insurance Payments (19 May 2016)

Michael Noonan: I am advised that Revenue collects Pay Related Social Insurance from self-employed persons.  In line with the requirements of the Taxes Consolidation Act 1997, a claim for repayment must be made to Revenue within 4 years of the end of the tax year to which the claim relates. I understand from Revenue that no claim for a refund of Pay Related Social Insurance has been received from...

Written Answers — Department of Finance: VAT Exemptions (19 May 2016)

Michael Noonan: The VAT rating of goods and services is constrained by the requirements of EU VAT law with which Irish VAT law must comply. Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, currently 23%. Parts or accessories and training are also liable to VAT at the standard rate.  There is no provision in VAT law that would make it possible to apply...

Written Answers — Department of Finance: Tax Code (19 May 2016)

Michael Noonan: In June 2014, the Competition Directorate of the European Commission announced its intention to open formal state aid investigations into tax rulings provided to a number of companies in various Member States of the European Union.  This announcement is part of a much wider review of tax ruling practice that is currently being undertaken by the European Commission covering all 28...

Written Answers — Department of Finance: Charitable and Voluntary Organisations (19 May 2016)

Michael Noonan: In replying to the Deputy's Question I am assuming that she is referring to organisations with a charitable status and who have the charitable tax exemption. The Deputy will be aware that the regulatory control of charities is a matter for the Charities Regulatory Authority which was established on 16 October 2014 in accordance with the 2009 Charities Act.  Revenue's role is confined...

Written Answers — Department of Finance: Tax Clearance Certificates (19 May 2016)

Michael Noonan: I am advised by Revenue that the matter to which the Deputy refers has been addressed through direct contact with the persons concerned and tax clearance has been granted.

Written Answers — Department of Finance: Tax Code (19 May 2016)

Michael Noonan: As set out in "A Programme for a Partnership Government" it is our intention, working with the Oireachtas, to increase the Small Benefits Exemption (voucher) from €500 to €650. The Deputy will be aware that taxation changes of this nature are normally progressed via the annual Budget and Finance Bill cycle.