Results 1,001-1,020 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Economic Growth Rate (28 Feb 2017)

Michael Noonan: The European Commission's 2017 Winter economic forecast was published on 13 February. The Commission is forecasting GDP growth for Ireland of 3.4 per cent this year, a downward revision of 0.2 percentage points relative to Autumn 2016. This is broadly in line with my own Department's forecast of 3.5 per cent growth this year, published as part of Budget 2017. According to these forecasts...

Written Answers — Department of Finance: Commercial Property (28 Feb 2017)

Michael Noonan: It is not clear what the circumstances of this case are or why a decision was taken to accept a lower bid. Such a decision can be made for valid commercial reasons. If any unlawful steps have been taken the appropriate avenue for recourse would be through the Courts. Primary legislative responsibility in this area would rest with my colleague the Minister for Justice and Equality.

Written Answers — Department of Finance: Credit Unions (28 Feb 2017)

Michael Noonan: The Central Bank of Ireland is responsible for the regulation of credit unions registered under the Credit Union Act, 1997 (as amended) (1997 Act). The Central Bank is subject to strict confidentiality requirements and cannot comment on individual credit unions. In relation to the holding of an Annual General Meeting (AGM) in accordance with Section 78(2) of the 1997 Act, the Central...

Written Answers — Department of Finance: Tracker Mortgage Data (28 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 235, 243 and 244 together. The Tracker Mortgage Examination is the most significant supervisory review undertaken in the context of the Central Bank's consumer protection remit. In line with the Bank's mandate to ensure that the best interests of consumers are protected, the Central Bank's immediate focus is to ensure that lenders prioritise the...

Written Answers — Department of Finance: Tax Compliance (28 Feb 2017)

Michael Noonan: Individuals who provide short-term guest accommodation organised through platforms such as the company in question are liable to income tax, USC and PRSI in the normal manner on the profits arising from the provision of such accommodation. Where the services are provided on an occasional basis, as distinct from in the course of a trade, the income arising is treated as miscellaneous...

Written Answers — Department of Finance: Banking Sector Regulation (28 Feb 2017)

Michael Noonan: As I outlined in my previous response to the Deputy last month in relation to this matter the Single Supervisory Mechanism (SSM) has ultimate responsibility for supervision of the banking sector. The SSM is comprised of the ECB and the national competent authorities (NCAs) of participating Member States.  The Irish national competent authority is the Central Bank of Ireland....

Written Answers — Department of Finance: Help-To-Buy Scheme Administration (28 Feb 2017)

Michael Noonan: I assume the Deputy is referring to the Help to Buy incentive which was initially announced on 19 July 2016 as part of 'Rebuilding Ireland: Action Plan for Housing and Homelessness' and was legislated for in Finance Act 2016. The initiative aims to assist a first-time purchaser to fund the deposit required to purchase or self-build a new property to serve as their...

Written Answers — Department of Finance: Property Tax Assessments (28 Feb 2017)

Michael Noonan: Local Property Tax (LPT) is a self-assessed tax, which places the onus on the property owner to calculate the tax due based on his or her calculation of the market value of the property. The person in question filed the statutory LPT return in 2013 confirming the value of the property to be in Valuation Band 2. The person also claimed an exemption from LPT on the basis of pyritic damage...

Written Answers — Department of Finance: Vehicle Registration (28 Feb 2017)

Michael Noonan: The requirement to register a vehicle is provided for in Part II, Chapter IV of the Finance Act 1992.  This legislation provides that unregistered vehicles may only be held by authorised persons (usually motor dealers) or where the vehicle is the subject of an exemption and provides for a range of offences and penalties including fines and forfeiture of the vehicle.  Where a person...

Written Answers — Department of Finance: Public Private Partnerships (28 Feb 2017)

Michael Noonan: The Deputy refers to unitary payments towards PPPS undertaken under the European Fund for Strategic Investments (EFSI) and to contributions to a project co-financed by EFSI. These are not the same thing. Public Private Partnership (PPP) unitary payments for infrastructure projects, including those co-financed under EFSI constitutes general government expenditure and...

Written Answers — Department of Finance: Banking Sector Regulation (28 Feb 2017)

Michael Noonan: I am informed by the Central Bank that no event of default occurred concerning Irish banks in 2008 in respect of the agreements governing their borrowing from the Bank.

Written Answers — Department of Finance: Tax Code (28 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 245 to 250, inclusive, together. I am advised by Revenue that, in principle, stamp duty is payable on the documentation concerning the purchase of loans where the standard stamp duty criteria are met, i.e. essentially where: - the document effecting the transfer is executed in the State (of Ireland); - the debt is deemed to comprise property (whether real or...

Written Answers — Department of Finance: Knowledge Development Box (28 Feb 2017)

Michael Noonan: I am advised by Revenue that relief in respect of the Knowledge Development Box will be claimed for the first time on the 2016 Corporation Tax returns. As the bulk of these returns will be filed later this year, the information requested by the Deputy cannot be provided until early 2018 when these returns have been filed and analysed.

Written Answers — Department of Finance: Tax Compliance (28 Feb 2017)

Michael Noonan: I am advised by Revenue that the number of compliance interventions (including audits) carried out in relation to Research and Development tax credit claims in each of the years 2012 to 2016, and the number which resulted in a reclaim of credits, is as follows: Year Number of Interventions Total yield €'000 Number Resulting in a Reclaim 2012 49 €5,413 25 2013 105...

Written Answers — Department of Finance: Tax Credits (28 Feb 2017)

Michael Noonan: It is assumed that the Question is referring to the expenditure associated with claims for research and development (R&D) tax credits in each year. I am informed by Revenue that, while the gross R&D expenditure is not directly recorded on Corporation Tax records, based on extrapolating from information included in returns and using the tax credit rate of 25 per cent,...

Written Answers — Department of Finance: Stamp Duty (28 Feb 2017)

Michael Noonan: Section 126AA of the Stamp Duties Consolidation Act 1999 applies to holders of banking licences and building societies in 2011 that collected and paid over more than €100,000 in Deposit Interest Retention Tax (DIRT) in that year. The section provides for a bank levy, equal to 35% of the amount of DIRT paid in 2011. The bank levy applies for a three year period covering the years 2014...

Written Answers — Department of Finance: Film Industry Tax Reliefs (28 Feb 2017)

Michael Noonan: I am advised by Revenue that statistical information relating to the beneficiaries of film relief under the current scheme can be found on their website at the following links: 2015 beneficiaries: 2016 beneficiaries: Film projects do not begin and end to coincide with calendar years meaning it is difficult to provide definitive figures for the number of jobs that the relief supported for...

Written Answers — Department of Finance: Tribunals of Inquiry Data (28 Feb 2017)

Michael Noonan: Over 30 Tribunals of Inquiry have been established under the Tribunals of Inquiry (Evidence) Acts 1921 to 2011. These are set out in the following table, which does not include the forthcoming Charleton Tribunal. In the time available, it was not possible to collate the details requested regarding the number of days each Tribunal sat for and the gross cost of each Tribunal. In...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (28 Feb 2017)

Michael Noonan: I am advised by Revenue that it is currently not possible to provide a definitive figure for the cost of the Employment Investment Incentive (EII) scheme to the Exchequer for 2016, as all of the relevant returns for that year have not yet been collected. However, based on uptake to date, Revenue estimate the cost of the scheme for 2016 to be in the region of €32.5...

Written Answers — Department of Finance: Tax Exemptions (28 Feb 2017)

Michael Noonan: I am advised by Revenue that the exemption from capital gains tax referred to by the Deputy applies to properties acquired in the period commencing on 7 December 2011 and ending on 31 December 2014 which are held for a minimum period of seven years. Accordingly, the earliest date that properties acquired in the relevant period can qualify for the exemption will be 7 December 2018. It is...