Results 4,481-4,500 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Tax Administration (14 Apr 2016)

Michael Noonan: I engaged Dr. Thornhill to consider the operation of the Local Property Tax, in particular, any impacts on LPT liabilities due to recent property price developments.  The review was informed by the outcomes of a public consultation initiated in March 2015 in response to which fifty-one written submissions were received. In his report on his review of the Local Property Tax which was...

Written Answers — Department of Finance: Tax Code (14 Apr 2016)

Michael Noonan: I have been informed by the Revenue Commissioners that they will be issuing guidance on this matter very shortly.  The guidance will encourage Irish small and medium-sized enterprises who find themselves in this position to contact Revenue directly to avail of an exemption from operating withholding tax, where a bank has assigned or novated a loan to a non-banking entity.  In order...

Written Answers — Department of Finance: State Properties Data (14 Apr 2016)

Michael Noonan: In response to the Deputy's query I would like to advise that as the Office of Public Works manages and maintains the State's property portfolio, the Minister with responsibility for the Office of Public Works is better placed to advise you on the details of properties managed by that Office. I have been advised that neither the Department of Finance nor any of the 18 bodies under...

Written Answers — Department of Finance: VAT Exemptions (14 Apr 2016)

Michael Noonan: I am advised by the Revenue Commissioners that Finance Act 2015 made changes to the wording of the VAT exemption for educational activities in the VAT Consolidation Act 2010 as amended to transpose the wording of the EU VAT Directive (Council Directive 2006/112/EC) with which Irish VAT legislation must comply.  The changed wording was designed to ensure that vocational training and...

Written Answers — Department of Finance: Tax Avoidance (14 Apr 2016)

Michael Noonan: The recent revelations uncovered by the International Consortium of Investigative Journalists regarding the so-called "Panama Papers" has caused widespread disquiet internationally. I understand that the Revenue Commissioners are currently seeking access to all the information of relevance from an Irish tax perspective.  It would then be a matter for the Revenue...

Written Answers — Department of Finance: Insurance Coverage (14 Apr 2016)

Michael Noonan: The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks.  As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither...

Written Answers — Department of Finance: Tax Credits (14 Apr 2016)

Michael Noonan: I am advised by Revenue that, following recent contact from the person concerned during which her personal circumstances were brought to Revenue's attention, her tax credits for 2016 were updated and a review for the years 2012 - 2015 was carried out and appropriate refunds issued. I am further advised by Revenue that it has since come to its attention that the person concerned...

Written Answers — Department of Finance: Tax Code (14 Apr 2016)

Michael Noonan: I am advised by the Revenue Commissioners that the decision on duties to be imposed on certain goods imported from China is determined by Member States at EU level.  The rates of duty generally are set out by the EU in the Common Customs Tariff.  While Ireland as one of 28 EU members has a participative role in the process for determining the rates we are not in a position to...

Written Answers — Department of Finance: Tax Code (14 Apr 2016)

Michael Noonan: Following the publication of the Marine Tax Review on Budget day, my Department is examining all of the proposals made in the report, in conjunction with officials from other relevant departments. As noted in the report by Indecon, there are significant state aid obstacles that would need to be considered, and indeed overcome, in relation to some of the proposals before they...

Written Answers — Department of Finance: Insurance Coverage (14 Apr 2016)

Michael Noonan: The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks.  As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither...

Nomination of Taoiseach (Resumed) (6 Apr 2016)

Michael Noonan: No. That is not true.

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (6 Apr 2016)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a fuel grant, and an exemption from Motor Tax. To qualify for the Scheme, an applicant must have a permanent and severe physical...

Written Answers — Department of Finance: Budget Statement (6 Apr 2016)

Michael Noonan: The annual general government Gross Fixed Capital Formation (GFCF) outturn is produced by the CSO and is published as part of the Government Finance statistics. This is produced in accordance with the European System of Accounts (ESA 2010) where GFCF of general government consists of annual government investments, deducting disposals, in fixed assets. Fixed assets are tangible or intangible...

Written Answers — Department of Finance: Insurance Coverage (6 Apr 2016)

Michael Noonan: I am aware of the difficulties that the absence or withdrawal of flood insurance cover can cause to businesses. However, the provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks....

Written Answers — Department of Finance: Tax Code (6 Apr 2016)

Michael Noonan: I am informed that the Revenue Commissioners engaged in discussions with the Irish Dental Association in 2012 to examine the particulars surrounding the engagement of Dental Associates and Dental Hygienists by Dental practices.   The Deputy may be aware that the terms "employed" and "self-employed" are not defined in tax law. The decision as to whether an individual is "employed" or...

Written Answers — Department of Finance: Property Tax Exemptions (6 Apr 2016)

Michael Noonan: I propose to take Questions Nos. 133 and 143 together. I am advised by Revenue that the qualifying criteria in respect of exemption from Local Property Tax (LPT) for properties with 'significant pyritic damage' was modified by the Finance (Local Property Tax) (Amendment) Act 2015. The Amendment modified the qualifying criteria to include properties where: 1. a certificate of damage has been...

Written Answers — Department of Finance: Stamp Duty (6 Apr 2016)

Michael Noonan: I am advised by the Revenue Commissioners that a stamp duty exemption is available in respect of the transfer of agricultural land to young farmers where certain conditions are met. The conditions for the relief are set out in section 81AA of the Stamp Duties Consolidation Act 1999 and one of these conditions is that a qualifying young trained farmer must hold one of the relevant educational...

Written Answers — Department of Finance: Pension Provisions (6 Apr 2016)

Michael Noonan: I am advised by Revenue that all self-employed persons between 16 and 66 years of age, with reckonable income or emoluments of €5,000 or more per year, are liable for compulsory PRSI pension contributions. A self employed person who is not liable to pay PRSI in a particular year may, subject to meeting certain conditions, be eligible to become a voluntary contributor. Compulsory...

Written Answers — Department of Finance: Mortgage Schemes (6 Apr 2016)

Michael Noonan: Firstly, let me make clear that the banks in Ireland are independent institutions and I, as Minister for Finance, have no role in operational matters in the banks including decisions in relation to the granting of credit, notwithstanding the fact that the State is a shareholder in some of these institutions.    However, I have consulted with the Central Bank on the...

Written Answers — Department of Finance: Tax Relief Data (6 Apr 2016)

Michael Noonan: Finance Act 2014 made amendments to the Taxes Consolidation Act 1997 to provide for the publication of the details referred to by the Deputy. Following the commencement of the new section 481 corporation tax credit scheme in January 2015, Revenue has published details of beneficiaries of the scheme on the Revenue website on a quarterly basis.  This information can be found at the...