Results 10,181-10,200 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (30 Sep 2014)

Michael Noonan: The graduate entry programme provides undergraduate medical education of four years duration and has been developed to produce medical graduates with the ability to successfully undertake an internship and thereafter to gain full registration with the Medical Council. The programme is supported by a combination of student fees, State funding and other income. While in this case the...

Written Answers — Department of Finance: Budget 2015 (30 Sep 2014)

Michael Noonan: As the Deputy will be aware, it is not the practice of the Minister for Finance to discuss the details of measures which may be under consideration as part of the Budget and Finance Bill. However I can advise him that to date my Department has received in excess of 500 Pre-Budget Submissions from a wide range of groups and individuals. These are being considered by the relevant officials in...

Written Answers — Department of Finance: Departmental Agencies (30 Sep 2014)

Michael Noonan: The Following is the information requested by the Deputy. Company Name Strategic Banking Corporation of Ireland Core Duties In the first instance the Strategic Banking Corporation of Ireland (SBCI) has been established as a means of ensuring that SMEs in Ireland are provided with sufficient finance for growth. It will also ensure that credit provided to SMEs meets their needs rather...

Written Answers — Department of Finance: Insurance Industry (25 Sep 2014)

Michael Noonan: MIBI obtained a legal opinion and, having considered it, advised the Minister for Transport, Tourism and Sport in late July that the 2009 agreement with him does not require the MIBI to satisfy awards against drivers covered by a policy of insurance where the insurer is unable to pay all or part of an award because of insolvency.  Jointly with the Minister for Transport, Tourism...

Written Answers — Department of Finance: VAT Rate Application (25 Sep 2014)

Michael Noonan: Section 37(1) of the Value-Added Tax Consolidation Act 2010 provides that the amount on which VAT is chargeable is the total consideration which the person supplying the goods or services becomes entitled to receive in respect of that supply, "including all taxes, commissions, costs and charges whatsoever", but not including the VAT itself.  This reflects EU VAT law, with which Irish tax...

Written Answers — Department of Finance: Tax Reliefs Cost (25 Sep 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated full year cost to the Exchequer from increasing the threshold for Capital Acquisitions Tax Category A from the current €225,000 to €250,000 is €12 million and from €225,000 to €275,000 is €24 million.

Written Answers — Department of Finance: Tax Yield (25 Sep 2014)

Michael Noonan: There is no simple answer with regard to the impact of different growth rates on tax revenue as the exact impact would depend on the composition of growth. For example, growth driven by exports does not have as significant an impact on the public finances as domestically driven growth. A general rule of thumb, assuming no change in tax policy, every increase of 1 percentage point of...

Written Answers — Department of Finance: Excise Duties Yield (25 Sep 2014)

Michael Noonan: The table below indicates the total excise duty collected from all alcohol product categories since 2008. Year Beer Cider Spirits Wine Total €m €m €m €m €m 2008 427.1 60.5 350.9 231.3 1069.8 2009 404.2 57.1 264 242.5 967.8 2010 320.1 44 243.4 218.8 826.3 2011 307.3 43.9 247.3 230.9 829.4 2012 308 42.8 263.9 231.4 846.1 2013 358 51.6 290.3...

Written Answers — Department of Finance: Tax Reliefs Cost (25 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 65 and 66 together. I am advised by the Revenue Commissioners that in the time available, having regard to the volume of questions received this week, Revenue are not in a position to provide the information sought. However, I will arrange for the information to be supplied directly to the Deputy.

Written Answers — Department of Finance: National Pensions Reserve Fund Portfolio (25 Sep 2014)

Michael Noonan: The most recently reported balance for cash and cash equivalents in the NPRF Discretionary Portfolio was €2,433 million as at 30 June 2014.

Written Answers — Department of Finance: Tax Yield (25 Sep 2014)

Michael Noonan: The table below sets out the total yield expected from tax measures introduced in the Budget for the years 2008 to 2014 inclusive.   Year Cost - €bn / Yield +€bn Budget 2008 -€0.7bn Budget 2009 +€2.0bn Supplementary Budget 2009 + €3.5bn Budget 2010 +€0.1bn Budget 2011 +€1.4bn Budget 2012 +€1.6bn Budget 2013...

Written Answers — Department of Finance: Tax Code (25 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that on the basis of Income Tax returns and Corporation Tax returns for 2010-2012 (the latter being the latest tax year for which the necessary information is available), there is no record of any such profits or gains having been returned. There is therefore no reliable basis for estimating the impact of its elimination. The windfall gains...

Written Answers — Department of Finance: Financial Services Regulation (25 Sep 2014)

Michael Noonan: I understand the Deputy's question concerns non-traditional mortgage providers which are unregulated and which have acquired Irish mortgages. I, as Minister for Finance, am committed to bringing forward legislation that protects consumers whose mortgages are sold to unregulated entities. The Government has reiterated this commitment on several occasions. In July and August of this year, my...

Written Answers — Department of Finance: Tax Reliefs Cost (25 Sep 2014)

Michael Noonan: Firstly, I must confirm to the Deputy that neither the Central Bank nor I have any responsibility for any variation in the variable mortgage interest rate charged by regulated financial instutions.  The lending institutions in Ireland - including those in which the State has a significant shareholding - are independent commercial entities. I have no statutory role in relation to...

Written Answers — Department of Finance: Universal Social Charge Exemptions (25 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 72 and 85 together. I am informed by the Revenue Commissioners that the cost of raising the Universal Social Charge (USC) threshold to €12,500, €15,000 and €16,500 respectively is set out in the following table. Proposed threshold Cost €m Numbers Benefitting Maximum Annual Saving to Taxpayer € €12,500 34 99,300...

Written Answers — Department of Finance: Tax Code (25 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 73 to 75, inclusive, 77 to 79, inclusive, and 84 together. In October 2013, I announced the setting up of a review of the various agritaxation measures. A public consultation process was undertaken and a number of stakeholder meetings were held. The review is on-going and it is hoped that a report will be made available in mid October. In relation to...

Written Answers — Department of Finance: Tax Reliefs Application (25 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 76 and 82 together. It is assumed the Deputy is referring in both questions to the stamp duty consanguinity relief for non-residential property. I am advised by the Revenue Commissioners that the estimated cost to the Exchequer from extending the relief after 31 December 2014 would be in the region of €5 million.

Written Answers — Department of Finance: Motor Tax Collection (25 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that many quad bikes are not manufactured for use on the roads and accordingly are not registered in the State. New quad bikes manufactured for use on the public roads are required to be registered and the application for registration must be accompanied by an appropriate Certificate of Conformity issued by the manufacturer under EU Directive...

Written Answers — Department of Finance: Tax Code (25 Sep 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the cost to the Exchequer of extending the PAYE credit to the self employed and proprietary directors is estimated at €470 million in a full year. These figures are estimates for 2015 from the Revenue tax forecasting model using the latest actual data for the year 2012, adjusted as necessary for income, self-employment and employment...

Written Answers — Department of Finance: Tax Code (25 Sep 2014)

Michael Noonan: A relief was introduced in Finance Act 2013 on disposals of farm land for farm restructuring, subject to a Commencement Order, which I made on 6 June 2013.  The terms of the relief are set out in Section 604B, Taxes Consolidation Act 1997.     The relief applies to a sale, purchase or exchange of agricultural land in the period from 1 January 2013 to 31 December...