Results 7,701-7,720 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Central Bank of Ireland Investigations (16 Apr 2015)

Michael Noonan: The Central Bank may conduct an Inquiry under Part IIIC of the Central Bank Act 1942 where it suspects on reasonable grounds that a prescribed contravention is being or has been committed. In that regard, the Central Bank has published its Inquiry Guidelines under Section 33BD of the Central Bank Act 1942. In relation to its Inquiry Panel, the Central Bank published...

Written Answers — Department of Finance: IBRC Staff (16 Apr 2015)

Michael Noonan: On 7 September 2012 it was announced to all staff in IBRC that the person referred to in the question was to be appointed as the Bank's new Head of Market Solutions on secondment from the Department of Finance, commencing the role on 2 October 2012. The person referred to in the question brought over 20 years experience in domestic and international wholesale banking to the role. The...

Written Answers — Department of Finance: IBRC Staff (16 Apr 2015)

Michael Noonan: In September 2012 it was announced to all staff in IBRC that the person referred to in the question was to be appointed as the Bank's new Head of Market Solutions on secondment from the Department of Finance, commencing the role on 2 October 2012. This move was decided during a meeting between John Moran and the then CEO of IBRC in August 2012. Given the banking experience of the...

Written Answers — Department of Finance: Fuel Laundering (16 Apr 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they recognise the serious threats that fuel fraud poses to legitimate businesses, motorists and Exchequer revenues. Action against this illegal activity is, therefore, a priority for them, and they are implementing a wide-ranging programme of measures to tackle the problem. Key elements of this programme include the following. - A...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (15 Apr 2015)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, assistance with fuel costs, and an exemption from Motor Tax. Under the Scheme, a citizen can claim remission or repayment of VRT, repayment of VAT on the purchase of a...

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

Michael Noonan: I understand that this question may relate to the new EU Basic Payment Scheme for farmers. I am informed, in that context, that where an application for the Basic Payment Scheme entitlements is made in respect of a herd number which is in joint names that any entitlements awarded will be owned in those joint names. Given that understanding, I am informed by the Revenue Commissioners that the...

Written Answers — Department of Finance: International Bodies Membership (15 Apr 2015)

Michael Noonan: I understand that a Memorandum of Understanding to launch the Asian Infrastructure Investment Bank (AIIB) was signed by China and 20 other Asian countries in October 2014.  According to the Chinese authorities, the AIIB will be an inter-governmental regional development institution with headquarters in Beijing and an initial subscribed capital of around USD 50 billion, established to...

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

Michael Noonan: Income or profits earned from carrying on a trade in Ireland, which would include operating a local area hackney service, are taxable in Ireland.  In that respect, these profits are no different to any other income or profits earned in the State. If the operator of a local area hackney service also has income which is taxed through the PAYE system, and earns less than €3,174...

Written Answers — Department of Finance: Tax Data (15 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 127 to 129, inclusive, together. I am informed by the Revenue Commissioners that the specific information for the 14 year period requested by the Deputy is not readily available and cannot be obtained without conducting a detailed examination of their records.  This being the case, I am further informed that the estimated time required to carry out such...

Written Answers — Department of Finance: Tax Collection (15 Apr 2015)

Michael Noonan: As I explained to the Deputy in my response on the 4 March to Parliamentary Question No. 9433/15, the paper based Relevant Contracts Tax (RCT) system was replaced by the electronic Relevant Contracts Tax (eRCT) system and the paper based C2 Certificate was discontinued with effect from 1 January 2012. The Deputy can be assured, however, that monitoring of abuses of taxes and duties,...

Written Answers — Department of Finance: Universal Social Charge Exemptions (15 Apr 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the number of income earners that would be additionally exempted from the Universal Social Charge (USC) by increasing the USC threshold from €12,012 to €14,875 is estimated to be in the order of 114,600. These figures are estimates from the Revenue tax forecasting model using latest actual data for the year 2012, adjusted as...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (15 Apr 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, assistance with fuel costs, 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: Insurance Coverage (15 Apr 2015)

Michael Noonan: The provision of new flood cover or the renewal of existing flood cover is a commercial matter for insurance companies, which is based on a proper assessment of the risks they are accepting and the need to make adequate provisioning to meet these risks. As a matter of course, insurance companies carry out reviews of the risks against which they are prepared to insure and sometimes...

Written Answers — Department of Finance: Central Bank of Ireland (15 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 134 and 135 together. The Credit Reporting Act 2013 provides that the Central Bank of Ireland (the 'Bank') is responsible for the establishment and operation of the central credit register (CCR). In 2014, the Bank completed a public procurement process to select a partner and solutions to build and operate the CCR on its behalf. Eleven companies or...

Written Answers — Department of Finance: VAT Payments (15 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 136 to 138, inclusive, together. I understand my officials have been in touch with the Deputy's office to explain that the Revenue Commissioners do not have the information to these questions as the detail is not contained in the relevant VAT returns. I have also been informed that officials from the Office of Government Procurement have spoken with...

Written Answers — Department of Finance: NAMA Social Housing Provision (15 Apr 2015)

Michael Noonan: NAMA is making a substantial contribution to social housing provision.  Under an initiative agreed with the then Minister for the Environment, Community and Local Government in 2012, NAMA has to date made over 6,000 houses and apartments held by its debtors and receivers available for social housing.  Local authorities, working through the Housing Agency, have confirmed demand for...

Written Answers — Department of Finance: IBRC Loans (15 Apr 2015)

Michael Noonan: The Special Liquidators continue to implement an orderly and efficient wind down of Irish Bank Resolution Corporation Limited (in Special Liquidation) in accordance with the provisions of the IBRC Act and the instructions issued by me under that Act. By February 2015, loans with a par value of €21.7bn had been prepared, brought to market and ultimately sold through a series of...

Written Answers — Department of Finance: Property Tax Administration (15 Apr 2015)

Michael Noonan: While the Local Property Tax (LPT) review will primarily have regard to recent residential property price developments, the overall yield from LPT and the desirability of achieving relative stability in LPT payments into the future, it will also address a number of issues which have arisen in relation to the efficient and effective administration of the LPT. Among such issues would be...

Written Answers — Department of Finance: VAT Rate Application (15 Apr 2015)

Michael Noonan: VAT is a consumption tax, that is, it is a tax that is paid by the final consumer of the good or service.  VAT is an EU-wide tax and Irish VAT law must comply with the EU VAT Directives. Section 37(1) of the VAT Consolidation Act 2010 provides that VAT is chargeable on the full consideration which a taxable person becomes entitled to receive in respect of or in relation to a supply of...

Written Answers — Department of Finance: VAT Rate Application (15 Apr 2015)

Michael Noonan: The VAT rating of goods and services is constrained by the requirements of EU VAT law with which Irish VAT law must comply.  Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate of 23%. Parts or accessories and training are also liable to VAT at the standard rate. There is no provision in the EU VAT Directive that would make it possible to...