Results 10,861-10,880 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: EU Investigations (3 Jul 2014)

Michael Noonan: I have been very clear that the current investigation that has been opened into Ireland by the Competition Directorate of the EU Commission relates to a single case.  This investigation is not about the Irish tax system or about the 12.5% rate of corporation tax.  The Commission is examining a very technical issue regarding one company and is looking at whether the correct basis was...

Written Answers — Department of Finance: Bank Restructuring (3 Jul 2014)

Michael Noonan: I am advised by Permanent TSB that in March 2011 Springboard Mortgages was identified as non-core and its sale was required as part of the Central Bank Prudential Liquidity Assessment Review ("PLAR").  A sale process was undertaken in 2011 but a sale did not complete for commercial reasons at that time.  Springboard Mortgages, which has circa 2,200 mortgages, has remained a...

Written Answers — Department of Finance: House Prices (3 Jul 2014)

Michael Noonan: I am aware of recent price dynamics in the residential property and rental markets. These have come after a fall in national residential property prices of over 50% from 2007 to 2013, as indicated by the CSO's Residential Property Price Index and a peak to trough fall of over 20% in the national rent index compiled by the Private Residential Tenancies Board. The Government recognises that...

Written Answers — Department of Finance: Tax Code (3 Jul 2014)

Michael Noonan: The Irish Venture Capital Association has expressed concern about, among other things, high marginal income tax rates and the significant increase in the capital gains tax (CGT) rate over recent years. Rates of CGT had to be increased to maintain the yield from CGT in a period of falling asset prices so that it would continue to make a contribution to the fiscal consolidation we are required...

Written Answers — Department of Finance: Economic Growth (3 Jul 2014)

Michael Noonan: Firstly, it is important to clarify that we have exited the EU-IMF Programme of Financial Support and we are now subject to EU Post-Programme Surveillance and IMF Post-Programme Monitoring. However, Ireland continues to be bound by the Excessive Deficit Procedure which requires that the underlying General Government deficit is reduced to less than 3% of GDP by 2015. It is clear that the...

Written Answers — Department of Finance: Budget 2015 (3 Jul 2014)

Michael Noonan: As the Deputy will be aware, we successfully exited the EU-IMF Programme of Financial Support at the end of 2013. We are now subject to EU Post-Programme Surveillance and IMF Post-Programme Monitoring. The objective of Post-Programme Surveillance/Monitoring is to assess Ireland's economic, fiscal and financial situation following the completion of the programme. The Stability Programme Update...

Written Answers — Department of Finance: VAT Rate Application (3 Jul 2014)

Michael Noonan: I understand that the fundraising activity in question has utilized text messaging as its main vehicle for facilitating donations. In this context, I am advised by the Revenue Commissioners that charitable donations made by text message, excluding any fees charged by the telecommunications provider or other service provider, are outside the scope of Irish VAT.  However, any fees...

Written Answers — Department of Finance: Departmental Staff Allowances (3 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that there has been no change in the way meal allowances are treated for tax purposes for civil servants or any other taxpayers.  Round sum meal allowances/expenses payments are taxable in full and must be treated as pay.

Written Answers — Department of Finance: Consumer Protection (3 Jul 2014)

Michael Noonan: I am informed by the Central Bank that, in the case of buy-to-let mortgages, the following Codes of Conduct may apply: - Consumer Protection Code 2012 - Code of Conduct for Business Lending to Small and Medium Enterprises (SME Code) - Code of Conduct on Mortgage Arrears (CCMA) In order to determine which Code applies in a particular case, a regulated entity would need to assess whether a...

Written Answers — Department of Finance: Tax Reliefs Cost (3 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners that, excluding allowable interest, approximately €838m rental expenses were claimed for 2012, which is the most recent tax year for which complete data are available. The available breakdown of this figure is as follows Expenses € Expenses Repairs €248m Expenses "Section 23" type relief €21m Expenses ...

Written Answers — Department of Finance: NAMA Property Sales (3 Jul 2014)

Michael Noonan: I refer the Deputy to PQ answer 49 & 55 on the 12th of June 2014, which outlines the position regarding the property referred to in your question.   As the Deputy is aware, NAMA is not in a position to gift assets to potential purchasers as it is obliged to set the realised value of assets against the indebtedness of its debtors.

Written Answers — Department of Finance: Budget 2015 (3 Jul 2014)

Michael Noonan: Our established practice, which is consistent with the requirements of the Stability and Growth Pact, is that budgetary planning is based on the most up-to-date economic and fiscal information. This means, in the case of Budget 2015, that the final parameters, including the adjustment, will be decided in early October when the latest macroecnomic forecasts prepared by my...

Written Answers — Department of Finance: Departmental Staff Sick Leave (3 Jul 2014)

Michael Noonan: Please see the total number of sick days taken by staff in my Department in 2011, 2012, 2013 and to date in 2014 as requested. Sick Leave 2011 2012 2013 2014 To Date* Self Certified Sick Leave 301.5 183.5 144.2 78 Certified Sick Leave To Date (>28 Days) 1816.6 851.71 403.76 513 Certified Sick Leave To Date (<28 Days) 1231.35 709.05 791.55 384.52 Total Certified Sick Leave...

Written Answers — Department of Finance: Consultancy Contracts Data (3 Jul 2014)

Michael Noonan: I refer the Deputy to the answer given on 21 January 2014 in response to a Parlamentary Question - Reference No. 2361/14. There has been no change in the situation since then. I am setting out below the information in tabular form provided in the response to Parliamentary Question 2361/14: Consultant External Report Amount Paid Year...

Written Answers — Department of Finance: Property Taxation Yield (3 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that compliance data in relation to the Local Property Tax (LPT) is available broken down by city and county councils nationally and the most up to date figures for LPT collected in 2013 and 2014 were published on 16 April 2014 on the Commissioners' website at: . The Commissioners have confirmed that by the end of December 2013, €318m had been...

Written Answers — Department of Finance: Property Taxation Application (3 Jul 2014)

Michael Noonan: I am advised by Revenue that Sections 10B and 15A of the Finance (Local Property Tax) Act 2012 (as amended) provide, that an exemption from Local Property Tax (LPT), or a reduction in market value may, subject to specific conditions, apply to a residential property that was built or adapted to make it suitable for occupation by a permanently and totally incapacitated person as their sole or...

Written Answers — Department of Finance: Tax Credits (3 Jul 2014)

Michael Noonan: An individual, (the 'primary claimant'), is entitled to the single person child carer credit (SPCCC) where he or she: - Is not married, cohabiting or in a civil partnership, - Is not jointly assessed or in receipt of the basic personal tax credit for a widowed person or a surviving civil partner, and - Proves that for a tax year he or she has a qualifying child residing with him or her for...

Written Answers — Department of Finance: Economic Growth (3 Jul 2014)

Michael Noonan: The recent forecast by my Department, contained in the Stability Programme Update, shows the general government debt to GDP ratio reducing from 123.7% in 2013 to 107.2% in 2018. In the short term, a reduction in the cash balances held by the State will assist in the reduction of the debt ratio. In the medium term, the achievement of progressively larger primary surpluses and the impact of...

Written Answers — Department of Finance: EU-IMF Programme of Support (3 Jul 2014)

Michael Noonan: Our EU/IMF Programme ran from late 2010 to December 2013. The European Council Recommendation of 7th December 2010, set out an adjustment path towards the correction of our excessive deficit out to 2015. These deficit targets were incorporated into the programme. For the programme years these were 10.6% in 2011, 8.6% in 2012 and 7.5% in 2013. The outcome was 8.9% in 2011 (underlying), 8.2%...

Written Answers — Department of Finance: Budget 2015 (3 Jul 2014)

Michael Noonan: It is the standard practice for the Minister for Finance to review all taxation policy in the run up to the annual Budget. As the Deputy will be aware, I have at all times tried to design policies to encourage growth while also addressing the need to restore stability to the public finances.  Within three months of coming into office, the Government launched the Jobs Initiative. ...