Results 721-740 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Motor Insurance (28 Mar 2017)

Michael Noonan: The issue  of persons being able to purchase motor insurance in another EU Member  to avail of lower premiums for a vehicle registered and based in Ireland was considered by the Cost of Insurance Working Group in its recent Report. Its conclusion was  that it is not possible under the current legislative framework to provide for individuals to source motor insurance...

Written Answers — Department of Finance: Credit Institutions Resolution Fund (28 Mar 2017)

Michael Noonan: The Government put €250 million into the Credit Institutions Resolution Fund which was established by section 10(1) of the Central Bank and Credit Institutions (Resolution) Act 2011 (as amended) (2011 Act). The Central Bank manages and administers the Resolution Fund. The purpose of the Resolution Fund under the 2011 Act is to provide a source of funding for...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (28 Mar 2017)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) is Ireland's national promotional institution for SMEs. Its aim is make sustainable and appropriately priced finance available to viable Irish SMEs and support investment by them that encourages growth and facilitates employment across the whole country. The SBCI does not lend directly, rather it lends its funds to SMEs through lending...

Written Answers — Department of Finance: Tax Rebates (23 Mar 2017)

Michael Noonan: The amount of Vehicle Registration Tax (VRT) charged can be based on a combination of the Open Market Selling Price (OMSP), CO2 emission levels and particular category of vehicle in question, or as a flat rate charge for larger commercial vehicles.  VAT is normally charged at 23% of the list price of the vehicle. Unfortunately, the Deputy has not...

Written Answers — Department of Finance: EU-IMF Programme of Support (23 Mar 2017)

Michael Noonan: The outstanding balances on the loans provided to Ireland under the EU/IMF Programme of Financial Support, as of end-February 2017, and as provided by the NTMA, are outlined in the table. Institution Outstanding Balance at end-February 2017 €bn equivalent International Monetary Fund (IMF) 4.3 United Kingdom 4.0 Sweden 0.6 Denmark 0.4 European Financial Stability Facility (EFSF)...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (23 Mar 2017)

Michael Noonan: The Deputy may wish to note that this morning the Central Bank of Ireland published a further update report on the Examination of Tracker Mortgage Related Issues and that this is available on its website www.centralbank.ie. This is the latest in a series of status updates since the examination commenced and sets out the progress being made by lenders in completing the...

Written Answers — Department of Finance: Tax Credits (23 Mar 2017)

Michael Noonan: I propose to take Questions Nos. 60 and 61 together. The legislation governing entitlement to the incapacitated child tax credit is contained in section 465 of the Taxes Consolidation Act 1997. The legislation provides that an individual is entitled to the tax credit for a year of assessment if he or she proves that at any time during the year of assessment, he or she has a child who is...

Written Answers — Department of Finance: Income Data (23 Mar 2017)

Michael Noonan: I am advised by Revenue that the Revenue Statistics webpage contains detailed information on income distribution statistics, which can also be accessed directly at . The available information in relation to the numbers of persons by taxable income is under the 'Income Tax and Corporation Tax Distribution Statistics' heading in Table 'RVA02: Distribution of Income Tax by Range of...

Written Answers — Department of Finance: Financial Services Sector (23 Mar 2017)

Michael Noonan: I am informed by the Central Bank that under various European and Irish regulations, Fund Service Providers are permitted to outsource/delegate activities.  On this basis, derogations are not required in order for work to be performed in other jurisdictions on behalf of Irish Fund Service Providers, so this information is not collected.  The Central Bank informs me that it...

Written Answers — Department of Finance: Universal Social Charge Yield (23 Mar 2017)

Michael Noonan: The most recent economic and budgetary forecasts prepared by my Department were published as part of Budget 2017. On that basis, and assuming a no policy change, which does not take account of the allocation of fiscal space beyond T+1, the expected Universal Social Charge (USC) yield would be in the region of €5.2 billion in 2021. This expected increase in USC yield is driven by...

Written Answers — Department of Finance: Tracker Mortgage Data (23 Mar 2017)

Michael Noonan: The Deputy may wish to note that this morning the Central Bank of Ireland published a further update report on the Examination of Tracker Mortgage Related Issues and that this is available on its website www.centralbank.ie. This is the latest in a series of status updates since the examination commenced and sets out the progress being made by lenders in completing the...

Written Answers — Department of Finance: Departmental Meetings (23 Mar 2017)

Michael Noonan: A technical delegation travelled to Brazil recently to meet with the Brazilian Federal Revenue Service to discuss the inclusion of Ireland on the Brazilian list. The meeting provided the opportunity for officials to discuss the issue in the context of Ireland's request to be removed from the list and allowed Irish officials to provide further information on...

Written Answers — Department of Finance: Tax Yield (23 Mar 2017)

Michael Noonan: I propose to take Questions Nos. 67 and 68 together. I am advised by Revenue that the yield from the exit tax on life assurance was in the order of €228 million in 2016. The projected yield in 2017 is €238 million. The yield from the 1% Stamp Duty levy on certain life assurance premiums was €21.4m in 2016. The projected yield for 2017 is €25.4m.

Written Answers — Department of Finance: Departmental Expenditure (23 Mar 2017)

Michael Noonan: I understand that the Deputy is referring to payments specifically in respect of audio and visual broadcasting. Details of payments made by my Department are listed in the table provided.  Of the 18 bodies under the aegis of my Department, 15 have confirmed a nil response to the information sought, the Office of the Revenue Commissioners and the Credit Reviewer have provided...

Written Answers — Department of Finance: VAT Payments (23 Mar 2017)

Michael Noonan: I am advised by Revenue that the supply of goods and services are generally liable to VAT at the various rates specified in the VAT Consolidation Act, 2010. Under the EU VAT Directive there is no scope to exempt supplies on the basis of charitable status. Generally, activities engaged in by charities are outside the scope of VAT and therefore they do not account for VAT on their supplies...

Written Answers — Department of Finance: VAT Yield (23 Mar 2017)

Michael Noonan: On 1 January 2015, new EU VAT rules came into effect changing the place of supply in respect of all supplies of telecommunications, broadcasting and electronic (TBE) services to consumers, from the place where the supplier is located to the place where the consumer resides. The VAT Mini One Stop Shop (MOSS), which is an optional scheme, also came into operation on 1 January 2015 allowing...

Written Answers — Department of Finance: Special Educational Needs Staff Remuneration (22 Mar 2017)

Michael Noonan: The legislation governing the deductibility of expenses incurred in employment is contained in section 114 of the Taxes Consolidation Act 1997. The provision dictates that for an expense to qualify as a deduction against income from an office or employment, the expense must be wholly, exclusively and necessarily incurred in the performance of the duties of the office or employment. For...

Written Answers — Department of Finance: Betting Regulations (22 Mar 2017)

Michael Noonan: I am advised by Revenue that the additional revenue that would be generated from increasing betting duty from 1% to 2% is estimated at €50m.

Written Answers — Department of Finance: Tax Code (22 Mar 2017)

Michael Noonan: I assume that the Deputy's question relates to payments made by the Department of Social Protection, which are not generally subject to income tax. These are set out as follows: - Child Benefit - The Back to Work Family Dividend - Jobseekers Benefit payable to a person in systematic short-time employment - the first €13 per week of the aggregate of the amounts of Jobseekers Benefit...

Written Answers — Department of Finance: Financial Services Ombudsman (22 Mar 2017)

Michael Noonan: I have been informed by the Financial Services Ombudsman (FSO) that when a complaint is made by a Consumer every effort is made by the FSO to facilitate the parties in achieving a mediated settlement with the help of his dedicated Dispute Resolution team. If no agreement is reached, the matter proceeds to a more formal investigation and adjudication, and the parties are issued...