Results 441-460 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Ministerial Travel (13 Apr 2017)

Michael Noonan: I travelled to Malaysia and Singapore as part of the Government's programme of overseas visits for St Patrick's Day.  My trip consisted of a three night visit to Kuala Lumpur, Malaysia (13-16 March) and a three night visit to Singapore (1619 March). The full cost of the trip is currently being finalised by my Department as final invoices for some aspects of the trip have yet...

Written Answers — Department of Finance: Tax Credits (13 Apr 2017)

Michael Noonan: I am advised by Revenue that a widow's pension is taxable income. In the case of the person concerned, I am advised that the taxable income taken into account by Revenue has included the widow's pension payment since she was first in receipt of the payment in 2008 and there has been no change in that position. If the person concerned requires any further clarification on any aspect of her...

Written Answers — Department of Finance: Motor Insurance Coverage (13 Apr 2017)

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 can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Bank Charges (13 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 74 and 75 together. In Budget 2016, I introduced measures to support retailers by reducing costs and incentivising electronic payments. I also announced an increase in the limit on contactless payments from €15 to €30 and reformed stamp duty to remove it from debit cards; replacing it with a 12c charge per ATM transaction though with a cap to...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (13 Apr 2017)

Michael Noonan: The Help to Buy incentive aims to both assist those first-time buyers struggling to save for the deposit required to purchase a home, as well as incentivising additional building and the provision of extra housing stock. At Budget time, my officials estimated that the Help to Buy incentive would cost €40 million per annum but €50 million in...

Written Answers — Department of Finance: Banking Sector Remuneration (13 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 77 to 80, inclusive, together. As the Deputy is aware, Bank of Ireland is an independent listed company on the Irish and London Stock Exchanges and must abide by stock exchange rules and best practice in relation to the dissemination of price sensitive information. In the bank's recent Stock Exchange announcement the current Group CEO confirmed his intention...

Written Answers — Department of Finance: Tax Collection Forecasts (13 Apr 2017)

Michael Noonan: I assume that the Deputy is referring to the income tax yield in the first quarter of 2017.The income tax performance in 2016 was solid with receipts of €19,169 million recorded, finishing the year 0.9 per cent or €174 million above target.This represented a strong year-on-year increase of 4.4 per cent or €810 million.  In relation to the first quarter of 2017, the...

Written Answers — Department of Finance: NAMA Property Sales (13 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 82 and 83 together. The Deputy will be aware that Section 9 of the NAMA Act provides that NAMA is independent in the performance of its functions and that, under Section 10 of the Act, its primary objective is to obtain the best achievable financial return for the State from its acquired loan portfolio. The NAMA Board exercises its judgement as to how best...

Written Answers — Department of Finance: Bank Branch Closures (13 Apr 2017)

Michael Noonan: I should stress at the outset that the Irish Government has no formal role in the commercial decisions of the banks as to their future business model and whether or not they will close particular branches. This is a matter for the Board and Management of the bank itself. That said, I expect that any bank closing branches will do everything that it can to mitigate the...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (13 Apr 2017)

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 be in possession of a Primary Medical...

Written Answers — Department of Finance: Tax Code (13 Apr 2017)

Michael Noonan: Where a person is generating electricity from solar panels and sells that electricity into the national grid the income from such activity would, in general, be considered a business activity and accordingly the income would be assessed as trading income chargeable under Case I of Schedule D.  In cases where the generation of electricity is primarily for own use, and only surplus...

Written Answers — Department of Finance: Information and Communications Technology (13 Apr 2017)

Michael Noonan: The Capital Plan includes an amount of €25m for the Finance Vote Group. This comprises an allocation of €2m for the Department of Finance and €23m for the Office of the Revenue Commissioners which is provided to cover both the information technology infrastructure and any project development work provided for within the strategic plans of these organisations for...

Written Answers — Department of Finance: Credit Union Regulation (12 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 110 and 114 together. 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. Credit unions are regulated and supervised by the Registrar of Credit Unions at the Central Bank who is the independent regulator for credit unions.  Within...

Written Answers — Department of Finance: Tax Credits (12 Apr 2017)

Michael Noonan: I assume the Deputy is referring to the potential cost of the introduction of an incentive to install home alarms. I would point out that such works already qualify for such a tax credit under the Home Renovation Incentive (HRI).  I am advised by Revenue that under the specific heading of "Supply and Fit Alarm", there have been 602 claims since 15 October 2013 with an associated...

Written Answers — Department of Finance: Insurance Industry Regulation (12 Apr 2017)

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 can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Tax Code (12 Apr 2017)

Michael Noonan: The VRT regime is provided for in Irish legislation, primarily in the Finance Act 1992, Part II, Chapter IV.  From time to time the European Commission queries aspects of the operation of the Vehicle Registration Tax system. These queries take the form of Pilots that may or may not escalate to Infringements.  None of these cases has resulted in a fine being imposed on Ireland.

Written Answers — Department of Finance: Credit Union Services (12 Apr 2017)

Michael Noonan: I am pleased that the credit union sector is considering various proposals to increase its income and develop its business model. My Department has received a number of such proposals from both the Irish League of Credit Unions (ILCU) and from the Credit Union Development Association (CUDA). Proposals from both representative bodies, in relation to the funding of social...

Written Answers — Department of Finance: Departmental Meetings (12 Apr 2017)

Michael Noonan: As part of the budgetary process in 2015 and 2016, a National Economic Dialogue was held, jointly hosted by the Departments of Finance, and Public Expenditure and Reform. A Government decision on whether to hold a National Economic Dialogue this year has not yet been taken but will be considered as part of the ongoing budgetary process for 2017. 

Written Answers — Department of Finance: Departmental Reports (12 Apr 2017)

Michael Noonan: In my 2017 Budget speech, I announced my intention to introduce a tax on sugar-sweetened drinks. At that time I also announced a public consultation process and invited interested parties to make submissions in relation to the form and practical implementation of the tax on sugar-sweetened drinks. The contents of all of the submissions received in response...

Written Answers — Department of Finance: VAT Registration (12 Apr 2017)

Michael Noonan: The issue in the matter mentioned concerns a VAT registered partnership's desire to deduct VAT on goods acquired by an individual partner rather than by the partnership. I am advised by the Revenue Commissioners that the general rule for deduction of VAT incurred is such that VAT may only be deducted by the accountable person who acquired the goods. Support for such deduction in the form of...