Results 10,281-10,300 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Revenue Commissioners Investigations (23 Sep 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the 39 forecourt and fuel station inspections resulted in the detection of laundered diesel in the period from 2011 to 31 August 2014. The Revenue Commissioners are structured into four geographical regions and their statistics are compiled on that basis. The Regions are: Dublin; Border Midlands West; East-South East and the South West. The...

Written Answers — Department of Finance: Tax Reliefs Availability (23 Sep 2014)

Michael Noonan: I propose to take Questions Nos. 186, 188 and 191 together. The matters raised are under consideration in the context of the AgriTaxation Review which I announced in my Budget 2014 speech. The review is be completed shortly and its report is expected to be published around Budget Day. It would not be appropriate for me to comment on the Deputy's questions in advance of the completion of...

Written Answers — Department of Finance: Tax Code (23 Sep 2014)

Michael Noonan: The Deputy may recall that, following a consultation process in relation to changes proposed to the Pay & File dates, I decided not to introduce any changes to that regime for 2014. The option of bringing the annual Pay & File dates forward remains, in order to provide increased certainty around the annual tax take and forecasting process following the move to an earlier...

Written Answers — Department of Finance: Tax Forms (23 Sep 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the simplification agenda for all taxpayers is an issue that they are very strongly committed to. In relation to tax returns, there is a suite of simplified paper income tax returns which were introduced by the Commissioners in 2011 specifically as part of a customer service initiative aimed at reducing the administrative burden on any taxpayer...

Written Answers — Department of Finance: Tax Code (23 Sep 2014)

Michael Noonan: Consanguinity relief applies to transfers of non-residential property to certain relatives, e.g. parent, grandparent, step-parent, child, foster-child, adopted child, brother, sister, half-brother/sister, aunt, uncle, niece, nephew. Stamp Duty is charged at half the normal rate. This relief applies to transfers of non-residential property executed on or before 31 December 2014 and does not...

Written Answers — Department of Finance: Departmental Agencies Staff Remuneration (23 Sep 2014)

Michael Noonan: In response to the Deputy's question, the bodies as listed in the following tables come under my aegis. None of these bodies are strictly in the categories of commercial or non-commercial organisations but I have provided the information for completeness. The information relating to details of the salaries of the most senior personnel in these financial agencies are available from the...

Written Answers — Department of Finance: Property Taxation Administration (18 Sep 2014)

Michael Noonan: I am advised by Revenue that the 1.49% charge to which the Deputy refers covers the transaction costs it incurs from the credit card companies that provide the service. The charge, which applies to all credit card tax payments including Local Property Tax (LPT), is a 'blended rate' based on the various credit card rates offered by the card providers under the terms of contracts awarded by...

Written Answers — Department of Finance: Departmental Schemes (18 Sep 2014)

Michael Noonan: As the Deputy is aware, the Home Renovation Incentive (HRI) was introduced in Finance Act (No 2) 2013.  The Incentive came into operation on 25 October 2013 and will run until 31 December 2015.  It provides for tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work, carried out by tax compliant...

Written Answers — Department of Finance: Mortgage Resolution Processes (18 Sep 2014)

Michael Noonan: As the Deputy will be aware under the Relationship Framework the State does not intervene in the day to day operations of the banks or their management decisions regarding the treatment of mortgage issues as it is a matter for the individual board and management teams of the banks. I have been advised that Permanent TSB can only legally engage with its customer, the borrower,...

Written Answers — Department of Finance: Financial Services Ombudsman (18 Sep 2014)

Michael Noonan: Under the Central Bank Act 1942, as amended, a consumer is not entitled to make a complaint to the Financial Services Ombudsman if the conduct complained of occurred more than six years before the complaint is made. A complaint to the Pensions Ombudsman may be made within three years of the complainant first becoming aware of the act giving rise to the complaint, even if this is...

Written Answers — Department of Finance: Insurance Industry Regulation (18 Sep 2014)

Michael Noonan: At the outset it should be noted that I, in my role as Minister for Finance, have no power to intervene in individual insurance cases.  The responsibility for day to day regulatory issues is a matter for the Central Bank of Ireland which is statutorily independent in the exercise of these functions. While the Question does not specify the type of life insurance product...

Written Answers — Department of Finance: Mortgage Interest Rates (18 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: IBRC Mortgage Loan Book (18 Sep 2014)

Michael Noonan: The Special Liquidators are in the process of implementing a sales process for the remaining unsold Irish Bank Resolution Corporation residential mortgages. The sales process plan and timeline for the sale of the portfolio has been developed following professional advice and in light of requirements for a robust and credible sales process. The Special Liquidators have given significant...

Written Answers — Department of Finance: VAT Rate Reductions (18 Sep 2014)

Michael Noonan: The 9% reduced VAT rate for tourism related services was introduced in July 2011 as part of the Government Jobs Initiative. The measure was designed to boost tourism and create additional jobs in that sector.  It is not the practice to comment on what measures may or may not be introduced in advance of the Budget.

Written Answers — Department of Finance: Budget 2015 (18 Sep 2014)

Michael Noonan: It is not the practice to comment on what measures may or may not be introduced in advance of the Budget. Having said that, the Deputy will be aware that a number of measures were introduced to maintain and create jobs in the broader tourism sector, of which the pub trade is an important component. In July 2011, the Government introduced the 9% reduced VAT rate for tourism related...

Written Answers — Department of Finance: Budget 2015 (18 Sep 2014)

Michael Noonan: It is not the practice to comment on what measures may or may not be introduced in advance of the Budget. However, as you are aware, under EU and Irish VAT law while it is possible to apply the 9% VAT rate to construction of residential property, historically the same VAT rate applies to all construction in Ireland. I have no plans to apply different VAT rates to different...

Written Answers — Department of Finance: Universal Social Charge Application (18 Sep 2014)

Michael Noonan: I assume that Deputy means that only the entry point to the charge of USC is increased and that once the increased threshold has been reached that full liability for USC at the current rates and thresholds would apply. On that basis, I am informed by the Revenue Commissioners that the estimated first and full year costs, with reference to 2015 incomes, of increasing the exemption threshold...

Written Answers — Department of Finance: Tax Data (18 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the estimated first and full year costs, with reference to 2015 incomes, of decreasing the standard rate of income tax by 0.5%, 1%, 1.5% and 2% and the numbers affected by such decreases are as detailed in the following table. Rate Decrease First Year Cost to the Exchequer €m Full Year Cost to the Exchequer €m Numbers Affected...

Written Answers — Department of Finance: IMF Loan Issues (18 Sep 2014)

Michael Noonan: I am proposing to make an early repayment of a portion of Ireland's IMF programme loan. Specifically the proposal is to make an early repayment of up to €18 billion of our €22.5 billion IMF loan, which is the portion subject to the highest rate of charge, and to replace it with less expensive market funding subject to prevailing market...

Written Answers — Department of Finance: Motor Industry (18 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the available information to August 2014 is in respect of VRT on all motor vehicles and estimated VAT as follows: Year VRT VAT (Estimated) - €m €m 2012 (8 Mths) 361.8 175 2013 (8 Mths) 363.5 176 2014 (8 Mths) 461 224 The anticipated yield in respect of VRT for the full year 2014 is €543m, which is €106m more...