Results 6,501-6,520 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (15 Jul 2015)

Michael Noonan: The applicable VAT rate varies across different activities within the overall construction sector. I am informed by the Revenue Commissioners that, as the information furnished on VAT returns does not require the yield from particular activities or products to be identified, it is not possible to estimate the VAT yield for the sector mentioned by the Deputy. Accordingly, I am not in a...

Written Answers — Department of Finance: Tax Code (15 Jul 2015)

Michael Noonan: Section 593 of the Taxes Consolidation Act 1997 provides for an exemption from Capital Gains Tax (CGT) in cases where the person disposing of a life assurance policy is the original beneficial owner of the policy. This CGT exemption does not extend to a disposal by a person who is not the beneficial owner of the policy and who acquired the rights or interest in the policy for a consideration...

Written Answers — Department of Finance: Tax Code (15 Jul 2015)

Michael Noonan: Following discussion with the Deputy's Office, I understand that the Deputy's question is 'To ask the Minister for Finance that given Trust's file annual return Form 1 which disclosed their income and so on, the revenue that would be generated from increasing the tax rate on trust income from 20% to 30%.' I am informed by the Revenue Commissioners that on the basis of net income tax...

Written Answers — Department of Finance: Seed Capital Scheme (15 Jul 2015)

Michael Noonan: As the Deputy is aware, the Seed Capital Scheme was recently rebranded and relaunched as StartUp Refunds for Entrepreneurs (SURE). This scheme provides refunds of tax previously paid to entrepreneurs who start their own qualifying business. I am advised by the Revenue Commissioners that a wide range of statistical information is available on the Commissioners' new, enhanced, Statistics...

Written Answers — Department of Finance: Exchequer Savings (15 Jul 2015)

Michael Noonan: I would like to inform the Deputy that is has not been possible to provide the requested material in the required timeframe. I will arrange for the requested material to be directed to you as soon as is possible.

Written Answers — Department of Finance: Tax Code (15 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a wide range of statistical information is available on the Commissioners' new, enhanced, Statistics webpage: . In relation to the Deputy's questions, detailed information on potential yields from increasing the rate of Capital Gains tax can be found in the post-Budget 2015 Ready Reckoner: . While the Ready Reckoner does not show all of the...

Written Answers — Department of Finance: Tax Yield (15 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 100 to 102, inclusive, together. In relation to the first question, I am advised by the Revenue Commissioners that data relating to the estimated yields for each 1% increase in the Capital Acquisitions Tax rate are available on the Revenue website at . Specifically, the information which the Deputy seeks can be found in the CAT Ready Reckoner...

Written Answers — Department of Finance: Tax Code (15 Jul 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the estimated yield that could be raised in a full year through increasing the tax on cigarettes by 50 cents per packet of 20, with a pro rate increase on other tobacco products, is in the region of €60m, assuming no change in consumer behaviour.

Written Answers — Department of Finance: Gambling Sector (15 Jul 2015)

Michael Noonan: I am informed by Revenue that the number of gaming licences (premises) and gaming machine licences issued, for the years 2010 to 2014 and for 2015 up to 10 July are as set out in Table 1. The receipts for each licence type for these periods are as set out in Table 2. The number of annual Gaming licences (premises) currently held is 45, the number of 3 month Gaming Machine licences currently...

Written Answers — Department of Finance: Tax Code (14 Jul 2015)

Michael Noonan: I have introduced four Budgets and Finance Bills since 2011. In each Budget - 2012, 2013 and 2014 - revenue and expenditure measures were introduced in order to meet the fiscal targets in each year. In Budget 2015, I was in a position to introduce an expansionary budget for the first time. In each budget, a range of targeted tax measures were introduced. These were designed to fix...

Written Answers — Department of Finance: European Banking Sector (14 Jul 2015)

Michael Noonan: I am conscious of the very difficult situation facing the Greek financial sector, and  I can confirm that the euro area Heads of State and Government (HoSG) discussed the situation in Greece on 7th July. Moreover, the HoSG on 13th July agreed that, subject to the Greek authorities implementing legislation in a number of policy areas over the next week or so,...

Written Answers — Department of Finance: Eurozone Crisis (14 Jul 2015)

Michael Noonan: On 13th July, euro area Heads of State and Government (HoSG) agreed that, subject to the Greek authorities implementing legislation in a number of policy areas over the next week or so, negotiations on an ESM programme of financial assistance can begin.  This is a positive development and my hope is that the necessary legislation and measures can be adopted. Having said that, my...

Written Answers — Department of Finance: Tax Reliefs Application (14 Jul 2015)

Michael Noonan: As with all proposals to change reliefs relating to property, there are a number of considerations which must be taken into account to correctly target the measure and ensure its success. As the Deputy will know, all tax reliefs and incentives are subject to regular review as part of the annual Budget and Finance Bill process. Any decisions taken by the Government in this regard are...

Written Answers — Department of Finance: Tax Reliefs Application (14 Jul 2015)

Michael Noonan: Section 216A of the Taxes Consolidation Act 1997 provides for the rent-a-room scheme. This scheme was introduced in Finance Act 2001 as an incentive to encourage individuals to let rooms in their principal private residence in order to bring about an increase in the availability of rental accommodation, particularly for the student sector. The scheme provides an exemption from Income...

Written Answers — Department of Finance: European Stability Programmes (14 Jul 2015)

Michael Noonan: I have stated on a number of occasions in recent months that, while I am opposed to a nominal haircut on Greek public debt, I am in favour of reducing the burden of Greece s debts through, for instance, a lengthening of maturities, longer grace periods, etc.  My position on this has not changed.  In Ireland, we have successfully reduced the burden of our public debt...

Written Answers — Department of Finance: Financial Services Regulation (14 Jul 2015)

Michael Noonan: Part IIIC of the Central Bank Act 1942, as amended, provides the Central Bank of Ireland with the power to impose sanctions in respect of the commission of prescribed contraventions by regulated financial service providers and the participation in the prescribed contraventions by persons concerned in their management. Since 2011 a total of €22,063,565 in fines has been imposed by...

Written Answers — Department of Finance: Financial Services Regulation (14 Jul 2015)

Michael Noonan: The total number of appeals determined by IFSAT since its inception is twelve. The total number of appeals currently outstanding is three. It is not possible to allocate individual cases to specific calendar years but broadly speaking IFSAT has determined approximately two cases each year since it was established.

Written Answers — Department of Finance: National Postcode System Implementation (14 Jul 2015)

Michael Noonan: The Office of the Paymaster General, which is part of my Department, makes payments of occupational pensions on an agency basis to retirees from the Civil Service and retirees from certain other public service bodies including pensions chargeable to the Central Fund. It is planned to transfer this activity later this year to the new Payroll Shared Service Centre, which is under...

Written Answers — Department of Finance: Tax Yield (14 Jul 2015)

Michael Noonan: It is assumed that the threshold for the 48% Income Tax rate proposed by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents, married couples and civil partnerships. I am advised by the Revenue Commissioners that, given the current band structures, major issues would need to be resolved as to how, in practice, such a...

Written Answers — Department of Finance: Financial Services Regulation (14 Jul 2015)

Michael Noonan: I am pleased to inform Deputies that borrowers whose loans are sold to unregulated entities are now protected by the Consumer Protection (Regulation of Credit Servicing Firms) Act 2015 which has just been enacted.  The purpose of the Act is to ensure that consumers retain the protections they had prior to the sale of their loan.  This Act will require entities dealing...