Results 9,721-9,740 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (4 Nov 2014)

Michael Noonan: The Deputy will be aware that individuals and corporations are taxed on a very different basis and that it is highly unlikely that any low or middle income earners pay more tax than large corporations. In addition to the Corporation Tax that companies pay on their profits, they also are liable for employer PRSI contributions in respect of their employees, which are charged at a much higher...

Written Answers — Department of Finance: Mortgage Applications Approvals (4 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 276 and 315 together. As the Deputies are aware, the Central Bank has commenced a public consultation process on the proposed new macro prudential rules for residential mortgage lending and any person who wishes to make a submission on these proposals can do so by emailing by December 8th next. Regarding the position of consumers who have...

Written Answers — Department of Finance: Mortgage Repayments (4 Nov 2014)

Michael Noonan: Neither I nor the Special Liquidators are able to discuss the circumstances of individuals who had accounts with IBRC and it would not be appropriate to discuss such matters through Dáil business.  The Special Liquidators retain responsibility and authority for determining the strategy, commercial policies, and for conducting the day-to-day operations of IBRC (In Special...

Written Answers — Department of Finance: Tax Code (4 Nov 2014)

Michael Noonan: The windfall tax provisions are contained in Sections 644AB and 649B Taxes Consolidation Act (TCA) 1997, introduced by Section 240 National Asset Management Agency Act 2009 and amended by Section 25 Finance Act 2010, and apply an 80% rate of tax to the windfall profits or gains from land disposals or land development where those profits or gains are attributable to a relevant planning...

Written Answers — Department of Finance: Household Charge Administration (4 Nov 2014)

Michael Noonan: I am advised by Revenue that it fully accepts that the person in question did not pay his original Household Charge (HHC) liability on foot of information that he received from the Local Government Management Agency in respect of his obligations. On that basis, as outlined by me in Question 21424/14, Revenue agreed that the person would only pay the original €100 charge rather than...

Written Answers — Department of Finance: Insurance Coverage (4 Nov 2014)

Michael Noonan: In my role as Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland, as regulator, interfere in the pricing of insurance products. The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based...

Written Answers — Department of Finance: National Pensions Reserve Fund Investments (4 Nov 2014)

Michael Noonan: The National Pensions Reserve Fund (NPRF) has advised that it has committed €44 million to the Covanta waste to energy project as part of a group of six senior debt funders.

Written Answers — Department of Finance: VAT Rate Application (4 Nov 2014)

Michael Noonan: As outlined in the response to Parliamentary Question No. 232 of 17 September 2014, defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate of 23% in compliance with EU VAT law. EU VAT law, with which Irish VAT law must comply, is strict on the application of a zero rate of VAT to goods or services. Article 110 of the EU VAT Directive law...

Written Answers — Department of Finance: Tax Data (4 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 283, 284, 286 and 287 together. I am informed by the Revenue Commissioners that the amount of Deposit Interest Retention Tax (DIRT) collected in 2011 to 2013 is available in the "Net Receipts" section of the Revenue's Statistics webpage: .  I am further informed by the Commissioners that DIRT on interest bearing deposits is declared and paid on a...

Written Answers — Department of Finance: Tax Yield (4 Nov 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the yield to date from the bank levy announced in Budget 2014 is €154.4 million (the forecast was €150 million). There are 13 financial institutions subject to the bank levy introduced in Finance (No 2) Act 2013. A further 6 financial institutions are excluded from the levy because their deposit interest retention tax payment for...

Written Answers — Department of Finance: Tax Data (4 Nov 2014)

Michael Noonan: DIRT is deducted at source by financial institutions. In order to charge DIRT at an account holder's marginal tax rate a financial institution would need to be aware of a depositor's marginal rate at the time that interest is paid or credited to any account held by such depositor. The Deputy will be aware that a taxpayer's marginal rate may change throughout the year in line with changes in...

Written Answers — Department of Finance: Pension Provisions (4 Nov 2014)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions and it would not be appropriate for me to comment on how he performs those duties. The Financial Services Ombudsman Bureau was established under the Central Bank and Financial Services Authority of Ireland Act 2004. This legislation provides the Financial Services...

Written Answers — Department of Finance: Tax Agreements (4 Nov 2014)

Michael Noonan: I am informed that no contact has been made with  officials in my Department  or in the Revenue Commissioners  as regards there being  any adverse issues in relation to the application of the terms of the Ireland-US double taxation agreement. If any such issues are brought to attention they will be examined in detail to see whether  they can be accommodated...

Written Answers — Department of Finance: Departmental Meetings (4 Nov 2014)

Michael Noonan: In response to the question, I can confirm that there have been no meetings between myself, or the Department of Finance, and Irish Water or the individual named in the period. However Department of Finance officials were in attendance at Department of the Environment and Local Government meetings with Irish Water (where Mr Tierney was also in attendance) Additionally, the Department, in...

Written Answers — Department of Finance: Fuel Laundering (4 Nov 2014)

Michael Noonan: I would like to assure the Deputy that I am very aware of the negative economic impact of fuel laundering. The Revenue Commissioners, who are responsible for tackling mineral oil tax fraud, advise me that, while there is no reliable estimate of the scale of illegal activity in the fuel sector, the laundering of markers from rebated fuels represents a significant threat to Exchequer revenues,...

Written Answers — Department of Finance: Budget 2015 (4 Nov 2014)

Michael Noonan: The latest projections, which are published in Budget 2015, are that the structural balance will reach -3.4 per cent of GDP in 2015, before improving further to -2.5 per cent of GDP in 2016. Currently, Ireland's Medium Term Objective (MTO) is to reach a balanced budget in structural terms. Once Ireland exits from the Excessive Deficit Procedure and becomes...

Written Answers — Department of Finance: Housing Loans (4 Nov 2014)

Michael Noonan: I am informed by the Central Bank of Ireland that under the Regulations as they are currently drafted, the restrictions apply to "housing loans". Basically these are loans issued by a lender to a borrower and which are secured on residential property (where a borrower means a person to whom a housing loanis granted). A "person" in this sense incorporates both legal (i.e....

Written Answers — Department of Finance: Stamp Duty (4 Nov 2014)

Michael Noonan: It is not possible by reference to the information provided by the Deputy to reply definitively to this query.  Stamp Duty is charged on instruments of transfer or conveyance. Whether or not stamp duty arises on the transfer of loans depends on the precise nature of the loans and the means by which they are sold or transferred.  Depending on the circumstances, a charge to...

Written Answers — Department of Finance: Tax Rebates (4 Nov 2014)

Michael Noonan: I am advised by the Revenue Commissioners that a person can claim tax relief at the standard rate of income tax (20%) on qualifying tuition fees. The tax relief can be claimed either on the individual's tax return or at the end of the tax year when the fees have been paid. In this instance, the income earned by the person (details supplied) was below the tax threshold and no tax was deducted...

Written Answers — Department of Finance: Tax Reliefs Application (4 Nov 2014)

Michael Noonan: I have considered the proposal for the introduction of a tax relief for Graduate Entry Medicine (GEM) loans and I do not consider that the tax system is the appropriate way to address the affordability of the GEM programme. The affordability and funding of undergraduate medical education is in the first instance a matter for the Department of Education and Skills, having due regard to the...