Results 5,521-5,540 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: VAT Rate Application (17 Nov 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that childcare is exempt from VAT as it falls within the exempted activities outlined under paragraph 4 of Schedule 1 of the Value-Added Tax Consolidation Act 2010. The exemption applies to a wide range of commercial and community childcare services including crèche and Montessori centres, playschools and community childcare facilities. ...

Written Answers — Department of Finance: Greenhouse Gas Emissions (17 Nov 2015)

Michael Noonan: On 6 November I and my colleague the Minister for Transport, Tourism and Sport received a letter from Mr. Matthias Müller, the Chief Executive Officer of Volkswagen AG. The letter refers to the recent discovery by the Volkswagen Group of discrepancies in the CO2 emissions contained on the type approvals of a number of vehicles produced by the Volkswagen Group. ...

Written Answers — Department of Finance: Fuel Quality (17 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they are responsible for the collection of tax on motor fuels and have implemented a comprehensive strategy to address fuel fraud. This strategy, which includes a number of measures to secure the integrity of the fuel supply chain and the introduction of a new marker for rebated fuel, has been successful in tackling fuel fraud and this is...

Written Answers — Department of Finance: Banking Operations (17 Nov 2015)

Michael Noonan: As the Deputy is aware, I have no direct function in the relationship between banks and their customers, and intervention in specific cases would be inappropriate. The banks are run on an independent and commercial basis. Decisions taken by the banks are a matter for the board and management of the relevant institution. The Relationship Frameworks define the 'arm's length'...

Written Answers — Department of Finance: Tax Collection (17 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that data relating to the net receipts for Capital Acquisitions Tax (CAT) are available from the statistics webpage of the Revenue website at . In particular, in relation to the Deputy's Question, estimated geographical breakdowns of CAT receipts for the years 2011 to 2014 are available at . The estimated breakdowns are calculated on the basis of...

Written Answers — Department of Finance: NAMA Property Rental (17 Nov 2015)

Michael Noonan: NAMA does not own or manage properties and is not, in any instance, a landlord. NAMA has acquired loans. Its role in relation to properties is, like a bank, that of a secured lender. Other than properties that have been enforced, all of which are managed by the appointed receiver/administrator, properties continue to be managed by their original owners. Therefore, it is NAMA debtors and...

Written Answers — Department of Finance: Tax Exemptions (17 Nov 2015)

Michael Noonan: Section 469 of the Taxes Consolidated Act 1997 provides for tax relief in respect of health expenses incurred in the provision of health care. The section defines "health care" as the "prevention, diagnosis, alleviation or treatment of an ailment, injury, infirmity, defect or disability" and provides that "health expenses" includes certain costs incurred in the provision of health care...

Written Answers — Department of Finance: VAT Rate Reductions (17 Nov 2015)

Michael Noonan: The amount on which VAT is chargeable, in accordance with section 37(1) of the Value-Added Tax Consolidation Act 2010, is the total consideration receivable by the supplier, "including all taxes, commissions, costs and charges whatsoever" but not including the VAT itself. VAT is governed by the EU VAT Directive, with which Irish VAT law must comply.  Article 78 of the VAT Directive...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (12 Nov 2015)

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, a fuel grant, and an exemption from Motor Tax. To qualify for the Scheme, an applicant must have a permanent and severe physical disability...

Written Answers — Department of Finance: Fiscal Compact Treaty (12 Nov 2015)

Michael Noonan: In 2016 Ireland will enter the preventive arm of the Stability and Growth Pact (SGP). Countries in the preventive arm must attain the Medium Term Objective (MTO) or be on an appropriate adjustment path towards it.  The MTO is the central concept of the preventive arm that serves to ensure sustainable public finances and compliance with the 3% of GDP deficit criterion in all but the most...

Written Answers — Department of Finance: Tax Code (12 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the phrase 'tax credit' has a very specific meaning in the Taxes Acts.  For income tax, corporation tax and capital gains tax it means an amount "to be given or set against, or deducted from, the amount of tax chargeable on the person".  Therefore, it includes items which form part of the normal computation of a tax liability, (for...

Written Answers — Department of Finance: Tax Code (12 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 68 and 69 together. I understand that Latvia has a flat income tax rate of 23% with effect from 2015 for certain types of income, while also having a State Social Insurance Mandatory Contributions system. I am not aware of any jurisdictions that have abolished all tax credits. Furthermore, I am not aware of any analysis of the economic and social impacts...

Written Answers — Department of Finance: Tax Data (12 Nov 2015)

Michael Noonan: I assume that the Deputy is referring to the annual cost of increasing the Capital Acquisitions Tax category A threshold, which applies to gifts and inheritances from a parent to a child, from the post-Budget 2016 threshold of €280,000 to €500,000. I am advised by the Revenue Commissioners that the cost of increasing the category A threshold to €500,000 would be...

Written Answers — Department of Finance: Tax Code (12 Nov 2015)

Michael Noonan: As the Deputy will be aware, there have been a number of proposals in recent years to impose taxes on food and beverages to achieve public health objectives. Generally, such proposals encompass either specific products, such as sugar sweetened drinks, or a range of food products with certain characteristics, such as foods with saturated fats above a certain level, foods with added...

Written Answers — Department of Finance: Fiscal Policy (12 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 72 and 73 together. The general government deficit and debt figures for 2016, as per Budget 2016, are currently projected to be -€2.8 billion (-1.2% of GDP) and €207.1 billion (92.8% of GDP) respectively. The Deputy is asking what would be the impact should alternative levels of revenue and expenditure be introduced rather than the measures...

Written Answers — Department of Finance: Banking Sector Data (12 Nov 2015)

Michael Noonan: Section 126AA of the Stamp Duties Consolidation Act 1999 applies to holders of banking licences and building societies in 2011 that were obliged to collect and pay over more than €100,000 in Deposit Interest Retention Tax (DIRT) in that year.  The section provides for a bank levy, in the form of a stamp duty, equal to 35% of the amount of DIRT (known as the "assessable amount")...

Written Answers — Department of Finance: Mortgage Data (12 Nov 2015)

Michael Noonan: I am informed by the Central Bank that it does not publish information on the basis sought by the Deputy. However, the Banking and Payments Federation Ireland (BPFI) publishes a quarterly report on the Irish Mortgage Market. The latest report covers the periods up to Q2 2015. It contains the following data in relation to re-mortgages which it defines as "'a loan which is drawn down by...

Written Answers — Department of Finance: Banking Sector Regulation (12 Nov 2015)

Michael Noonan: The Deputy will be aware that I, in my role as Minister for Finance, have no direct function in the relationship between the banks and their customers. I have no statutory function in relation to the commercial  decisions made by individual institutions at any particular time and these are taken by the board and management of the relevant institution. Notwithstanding...

Written Answers — Department of Finance: Credit Unions Services (12 Nov 2015)

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 Unions Regulation (12 Nov 2015)

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...