Results 841-860 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Application (7 Mar 2017)

Michael Noonan: It is not fully clear from the Deputy's question as to the specific aspect of the tax code that his enquiry relates to. However, I assume that the Deputy is referring to the Rent-a-Room scheme, which is provided for in Section 216A Taxes Consolidation Act 1997.  This scheme was introduced with the aim of increasing the availability of rented residential accommodation. The...

Written Answers — Department of Finance: Tax Yield (7 Mar 2017)

Michael Noonan: I am advised by the Revenue Commissioners that tax returns up to the 2015 year of assessment did not require rental income to be returned in a manner that would enable income from residential property lettings be separately identified from rental income in respect of other types of property, such as commercial rental property. It is not therefore possible to provide the amount of...

Written Answers — Department of Finance: Banking Sector (7 Mar 2017)

Michael Noonan: During the latter half of 2010, Irish banks were encountering difficulties in sourcing funding. In order to allay these difficulties, the Central Bank of Ireland entered into facility deed agreements with a number of banks, including Bank of Ireland. Under these agreements, the Central Bank of Ireland could make loans to a relevant bank, by way of emergency liquidity...

Written Answers — Department of Finance: Tax Reliefs Application (7 Mar 2017)

Michael Noonan: At present, Section 244 of the Taxes Consolidation Act 1997 provides for tax relief in respect of interest paid on qualifying home loans taken out on or after 1 January 2004 and on or before 31 December 2012, with relief being available until 31 December 2017.  Mortgage interest relief has been abolished for homes purchased since 1 January 2013. In the Programme for a...

Written Answers — Department of Finance: VAT Yield (7 Mar 2017)

Michael Noonan: I am informed by Revenue that it is not possible to furnish figures on the amount of VAT from a specific retail service such as barber shops. Information provided to Revenue on a VAT return does not require the yield from individual products or activities to be identified.

Written Answers — Department of Finance: Corporation Tax Regime (7 Mar 2017)

Michael Noonan: In 2016, Exchequer corporation tax receipts of €7,351 million represented an important revenue source, accounting for just under 15.5 per cent of all Exchequer tax receipts. However, by way of context, it is important to point out that income tax and VAT accounted for around two-thirds of the total tax yield last year.  Furthermore, it should be noted that corporation tax as...

Written Answers — Department of Finance: Banking Sector Regulation (7 Mar 2017)

Michael Noonan: I am advised by the Central Bank that neither the Central Bank's Consumer Protection Code 2012 nor the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 include a requirement that a citizen from another EU Member State purchasing a property in Ireland must hold an Irish bank account.  Nevertheless, it could also be noted that the Regulations provide that a lender...

Written Answers — Department of Finance: Tax Rebates (7 Mar 2017)

Michael Noonan: I am advised by the Revenue Commissioners that the applicable provision giving a right to repayment of tax is section 865 of the Taxes Consolidation Act (TCA) 1997, where a person has paid an amount of tax which is not due. However, as I advised in my response to PQ numbers 130 and 156 of 14 February 2017, section 865(4) provides that that right is subject to a statutory limit of four years...

Written Answers — Department of Finance: Revenue Commissioners Investigations (7 Mar 2017)

Michael Noonan: I am advised by Revenue that their investigations into the incidences of petrol stretching that occurred in Co. Mayo in 2014 revealed that there was no evidence of any excise offences in that county. Despite extensive testing, evidence of the presence of prohibited stretching agents was found in only two samples, both from one location outside Co Mayo. These two prosecution cases were heard...

Written Answers — Department of Finance: Help-To-Buy Scheme (7 Mar 2017)

Michael Noonan: The Deputy will be aware that I agreed during the Committee Stage debate on the relevant section of Finance Bill 2016, to commission an independent impact assessment on the effects of the Help to Buy incentive on the supply of new homes, house prices, and the residential property market generally, for completion prior to Budget 2018. My officials have drafted and issued a...

Written Answers — Department of Finance: Tax Rebates (7 Mar 2017)

Michael Noonan: I am advised by Revenue that processing of the refund claimed is pending until supporting documentation is submitted.  This documentation was requested on two occasions in June 2013 and again in March 2015 but has not been received. Following a recent visit by the person concerned to his local Revenue District, Revenue has arranged to confirm the position again in writing to the person...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (2 Mar 2017)

Michael Noonan: The tax treatment referred to by the Deputy, regarding an exemption from Stamp Duty for certain first-time buyers ceased to apply to instruments executed on or after 8 December 2010. The legislation that introduced the Help to Buy incentive in Finance Act 2016, now contained in Section 477C of the Taxes Consolidation Act 1997, defines a first-time purchaser as "an...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (2 Mar 2017)

Michael Noonan: The commencement date for the Help to Buy scheme of 19 July 2016 was chosen as it was the date of the launch of 'Rebuilding Ireland - Action Plan for Housing and Homelessness', in which the development of such a scheme for inclusion in the Budget was initially announced. The intention to backdate the scheme to this date was announced at that time with a view to avoiding...

Written Answers — Department of Finance: Tax Collection (2 Mar 2017)

Michael Noonan: I am advised by the Revenue Commissioners that as the Tax Appeal Commission (TAC) is an entirely independent statutory body with sole responsibility for accepting or refusing appeals, deciding the manner in which the appeals process is to be conducted and for managing the adjudication and determination of appeals, that they are not in a position to advise on the anticipated time-frame for the...

Written Answers — Department of Finance: Tax Collection (2 Mar 2017)

Michael Noonan: I propose to take Questions Nos. 50 to 52, inclusive, together. I am advised by Revenue that it is not in a position to provide all of the information requested by Deputy Doherty as certain appeals-related data is either not routinely captured by Revenue or is not captured in a form that is readily accessible. Revenue is currently taking steps to address this issue by developing its case...

Written Answers — Department of Finance: Fuel Rebate Scheme (2 Mar 2017)

Michael Noonan: A relief on mineral oil tax paid on auto-diesel purchased within the State by qualifying passenger transport operators, on or after 1st July 2013, was provided for by Section 99A of the Finance Act 1999 (as inserted by Section 51 of the Finance Act 2013). The repayment amount is calculated by reference to a sliding scale based on the average price at which auto-diesel is available for...

Written Answers — Department of Finance: Revenue Commissioners (2 Mar 2017)

Michael Noonan: I am assured by Revenue that they are committed to making it as easy and as straightforward as possible for taxpayers to be compliant. Revenue's Statement of Strategy 2017 - 2019 makes clear that commitment to providing advice and information both online and through other channels. The extension of an appointments service reflects a reduced demand for the traditional 'walk-in' services...

Written Answers — Department of Finance: Revenue Commissioners Resources (2 Mar 2017)

Michael Noonan: I am advised by Revenue that the outsourced Local Property Tax (LPT) Helpline plays a major role in achieving year on year compliance rates of circa 97% for the tax. The Helpline also played a key role in the collection by Revenue of over €65m in Household Charge (HHC) arrears in respect of 360,000 properties. The outsourced model provides Revenue with a flexible, cost effective...

Written Answers — Department of Finance: Legislative Process RIA (2 Mar 2017)

Michael Noonan: The Department of Finance undertakes Regulatory Impact Analyses (RIAs) in accordance with the latest guidelines as published by the Department of the Taoiseach. A RIA is carried out where it is deemed necessary to do so in respect of a policy or programme that is being developed. There are cases where a RIA is not required. For example, a RIA is not required in the case of emergency...

Written Answers — Department of Finance: Legislative Process RIA (2 Mar 2017)

Michael Noonan: The Regulatory Impact Analyses ("RIA") published by this Department are conducted in accordance with the latest guidelines as published by the Department of the Taoiseach. Impacts are considered as part of the RIA depending on the subject matter of the Bill and include, for example, national competitiveness, SMEs, socially excluded and vulnerable groups, poverty proofing, rural communities,...