Results 8,921-8,940 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Departmental Meetings (16 Dec 2014)

Michael Noonan: In response to the Deputy's question I have interpreted Management Advisory Council as meaning Management Advisory Committee (MAC), which is the title of the Senior Management Group in my Department. I have held a number of meetings with a subgroup of this Committee. The number of entries for such meetings are recorded in my diary as follows: 2014: 3 2013: 20 The...

Written Answers — Department of Finance: Departmental Meetings (16 Dec 2014)

Michael Noonan: In response to the Deputy, I have  interpreted Management Advisory Council  as meaning  Management Advisory Committee (MAC), comprising those Senior Managers in my Department.  Please find set out below a table detailing all MAC meetings since 2011 and a full list of attendees, as per their titles, at these meetings.

Written Answers — Department of Finance: Universal Social Charge Exemptions (16 Dec 2014)

Michael Noonan: I am advised by the Revenue Commissioners that based on the information available; the person concerned is exempt from the universal social charge (USC) since 2012. USC is currently being deducted by the individual's pension provider. Revenue has now carried out a review for 2012 and 2013 and a refund together with PAYE Balancing Statements will issue directly to the individual. The person...

Written Answers — Department of Finance: Tax Code (16 Dec 2014)

Michael Noonan: I am informed by the Revenue Commissioners that, irrespective of whether or not a property is in negative equity, rental income from the property is taxable. The taxable amount is the gross rent less allowable expenses incurred in earning that rent, as specified in section 97(2) of the Taxes Consolidation Act (TCA) 1997. The main deductible expenses are: - any rent payable by the landlord...

Written Answers — Department of Finance: Property Taxation Administration (16 Dec 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the introduction of Local Property Tax (LPT) was the largest extension of the self-assessment system in the history of the State, with a customer base of over 1.3 million property owners. With regard to the Deputy's request for the cost of establishing and maintaining the paper based LPT system, the Commissioners have confirmed that the paper...

Written Answers — Department of Finance: IBRC Liquidation (16 Dec 2014)

Michael Noonan: The Special Liquidators confirm that those deposits not covered by the DGS or ELG Schemes are unsecured creditors of Irish Bank Resolution Corporation Limited (in Special Liquidation). The Special Liquidators have published advertisements and written to those known creditors in order to finalise their claims in the liquidation. Creditors in the UK and Ireland have until 31 March 2015 to...

Written Answers — Department of Finance: Tax and Social Welfare Codes (16 Dec 2014)

Michael Noonan: It is important to understand that PAYE workers and the self-employed are taxed in different ways to reflect their differing circumstances. Employees are exempt from the charge to PRSI if their income does not exceed €18,304. However, once PAYE income exceeds this threshold they are liable to pay PRSI on the full amount at 4%, thus equalising the treatment of personal PRSI...

Written Answers — Department of Finance: Road Network (16 Dec 2014)

Michael Noonan: In September the Ecofin Council requested that a Task Force be established to develop an EU investment project pipeline. The Task Force was chaired jointly by the EIB and the European Commission and included a nominee from each Member State. The Task Force requested each Member State to submit a list of projects in accordance with its terms of reference. Ireland's EIB Task Force's...

Written Answers — Department of Finance: NAMA Property Sales (16 Dec 2014)

Michael Noonan: In line with the purposes of the NAMA Act and NAMA's objectives, NAMA has committed to repay 80% of its senior debt by end-2016. To meet this objective, NAMA must realise assets including through the sale residential property portfolios. It is entirely incorrect to claim that the sale of assets securing NAMA's loans is contributing to rent inflation in the private residential rental market....

Written Answers — Department of Finance: Cycle to Work Scheme Data (16 Dec 2014)

Michael Noonan: The cycle to work scheme came into operation on 1 January 2009. With a view to keeping the scheme simple and reducing administration on the part of employers, there is no notification procedure for employers involved. Accordingly, the Revenue Commissioners do not have statistics on the uptake of the scheme and a county level breakdown is not available. The scheme operates on a...

Written Answers — Department of Finance: Tobacco Control Measures (16 Dec 2014)

Michael Noonan: The Public Health (Standardised Packaging of Tobacco) Bill 2013 is a matter for my colleague the Minister for Health. The Bill was formally notified to the Commission and to Member States under the EU Technical Standards Directive (98/34/EC) and the Tobacco Products Directive (2014/40/EU) on 17th June 2014. At the same time, formal notification was made to the World Trade Organisation under...

Written Answers — Department of Finance: Ministerial Travel (16 Dec 2014)

Michael Noonan: In response to the Deputy I have provided details of my travel arrangements and those of the Minister of State Harris: Minister Noonan -  Apart from the forthcoming Eurogroup/Ecofin meetings there are no confirmed Ministerial travel arrangements in place for 2015. The schedule, thus far, for Eurogroup/Ecofin meetings is - 26th/27thJanuary - 16th/17thFebruary - 9th/10thMarch ...

Written Answers — Department of Finance: Tax Code (16 Dec 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the Commissioners publish income distribution statistics based on incomes filed in tax returns. Income Distribution Statistics are published on Revenue's statistics webpage at . For example, in 2012 (the most recent year for which tax returns are filed and processed), 37,200 taxpayer units have income of €150,000 or over. These cases...

Written Answers — Department of Finance: Insurance Coverage (16 Dec 2014)

Michael Noonan: In my role as Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and neither the Government nor the Central Bank has any influence over this matter. Officials from my Department have consulted Insurance...

Written Answers — Department of Finance: IBRC Sale (16 Dec 2014)

Michael Noonan: Notwithstanding the State's ownership of the bank at the time, Irish Bank Resolution Corporation operated at an arm's length capacity from the State in relation to commercial issues. It was a matter for the board and management to determine and implement such policy in their organisation. Therefore, commercial decisions in relation to IBRC were solely a decision for the bank.  I...

Written Answers — Department of Finance: Tax Code (16 Dec 2014)

Michael Noonan: As the Deputy is aware, Irish VAT law must comply with EU VAT law which does not in general allow the application of a reduced VAT rate on construction services. However, Ireland applies the 13.5% reduced rate of VAT to construction services under a derogation from the EU VAT Directive, because Ireland applied a reduced rate to such services on 1 January 1991. However, this derogation is...

Written Answers — Department of Finance: Universal Social Charge Yield (16 Dec 2014)

Michael Noonan: The Universal Social Charge (USC) was introduced in Budget 2011 to replace the Income Levy and the Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit. It is a more sustainable charge than those it replaced. It is applied at a low rate on a wide base. I should point out that it was never intended that the USC...

Written Answers — Department of Finance: Tax Code (16 Dec 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the provisional increase in VRT and VAT on new registrations from January to November 2014, compared to the same period in 2013, is €104m (+24.4% ) and €83m (+31%) respectively.   It should be noted that the VAT figure is partially estimated and that all 2014 receipts are provisional at this time and may be subject to...

Written Answers — Department of Finance: Bank Debt Restructuring (16 Dec 2014)

Michael Noonan: The Euro-area Heads of State or Government (HoSG) agreed in June 2012 that "it is imperative to break the vicious circle between banks and sovereigns" and that when a Single Supervisory Mechanism, involving the ECB, is in place and operational, the European Stability Mechanism (ESM) could recapitalize banks directly. Last week, on the 8th December, the ESM Board of Governors approved the...

Written Answers — Department of Finance: Tax Rebates (16 Dec 2014)

Michael Noonan: I am advised by Revenue that a key aspect of the work undertaken in regard to Local Property Tax (LPT) was the 'building' of a comprehensive register of residential properties in the State. During the development process, some matching difficulties occurred when consolidating the various Government and non-Government data sources and as a result the information input to the Register for a...