Results 11,121-11,140 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Vehicle Registration (17 Jun 2014)

Michael Noonan: I am informed by the Revenue Commissioners that there is no additional digit added to the number plate format for imports from any State.  The same statutory rules apply for all number plate formats. I am advised by the Revenue Commissioners that a new Vehicle Registration computer system was introduced in December 2011.  Because of budgetary constraints, it was not possible to...

Written Answers — Department of Finance: National Debt (17 Jun 2014)

Michael Noonan: There have been a number of improvements to the terms and conditions of our Programme loans, since the initial agreement in late 2010, including reductions of the interest rates and, in the case of the EU facilities, extension of maturities. In July 2011, the Euro Area Heads of State or Government (HOSG) agreed to reduce the cost of the European Financial Stability Facility (EFSF) loans,...

Written Answers — Department of Finance: National Pensions Reserve Fund Plans (17 Jun 2014)

Michael Noonan: The NTMA (Amendment) Bill 2014, once enacted, will establish the Ireland Strategic Investment Fund (ISIF). The ISIF will absorb the assets of the National Pensions Reserve Fund (NPRF) and will have a statutory mandate to invest on a commercial basis in Ireland to support economic activity and employment. The Bill, which was published on 15 May 2014, does not provide for the ISIF becoming...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (17 Jun 2014)

Michael Noonan: On 9 April 2014, I published an update on the Budget 2014 €500m "Building Business and Creating Jobs Measures" on my Department's website at Further to this, the Deputy should be aware that the SME Communications Strategy has been progressed.  On 19 May I officially launched the Supporting SMEs online tool at the opening of the Limerick Local Enterprise Office. This online...

Written Answers — Department of Finance: VAT Rate Application (17 Jun 2014)

Michael Noonan: I am advised by the Revenue Commissioners that EU VAT Directive (Council Directive 2006/112/EC) generally provides that supplies of goods and services are chargeable to VAT at the standard rate but that lower rates are permitted in very limited circumstances.  Food products can only benefit from the zero rating in accordance with Article 110 of the VAT Directive which permits the...

Written Answers — Department of Finance: Property Taxation Yield (17 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 144, 166 and 169 together. 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...

Written Answers — Department of Finance: VAT Rate Application (17 Jun 2014)

Michael Noonan: The zero rate of VAT applies to tea supplied in non-drinkable form, which consists of the dried crushed leaves of the tea plant, and I am informed by the Revenue Commissioners that this treatment does not extend to products such as herbal and fruit based infusions, which are not derived from leaves of the tea plant.  Industry representatives raised this matter recently with my Department...

Written Answers — Department of Finance: Pensions Levy (17 Jun 2014)

Michael Noonan: I announced in my Budget 2014 speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 will be abolished from the 31st of December 2014. I have, however, introduced an additional levy on pension funds at 0.15% for 2014 and 2015. I am doing this to, among other things, continue to help fund the Jobs Initiative. The reduced VAT rate of 9% on tourism and certain...

Written Answers — Department of Finance: Tax Credits (17 Jun 2014)

Michael Noonan: As outlined in previous responses to the Deputy in the matter of the Single Parent Child Carer Credit, it is essential to regularly review all tax reliefs, credits and incentives in order to ensure that they are properly targeted and if necessary re-focused in order that they can achieve the socio-economic objectives that are set for them. As the Deputy will be aware, the new credit is...

Written Answers — Department of Finance: Insurance Industry Regulation (17 Jun 2014)

Michael Noonan: My response to the Parliamentay Question to which the Deputy refers was made on basis of information available on the website of the Maltese Financial Services Authority (MFSA) website at on 4 June 2014. This public website contains a list of notices, including one notice dated 27 January 2014 (ref. 07-14) with the title Notice of cessation of business  Setanta Insurance...

Written Answers — Department of Finance: Insurance Industry Regulation (17 Jun 2014)

Michael Noonan: SI 74/2007 dated 22 February 2007 sets out Central Bank of Ireland Regulations requiring insurers to give clients (a) 15 working days notice in writing of a renewal of the policy and terms of the renewal; and (b) a No Claims Bonus Certificate, as a separate document in addition to the renewal notification.  Regulation 5(1) prescribes that an insurer shall, not less than 15...

Written Answers — Department of Finance: National Debt (17 Jun 2014)

Michael Noonan: The Central Statistics Office (CSO) estimates general government debt at end-2013 at €202.9 billion. A high level breakdown of the composition of end-2013 general government debt is available on page 17 of Ireland's Stability Programme Update (SPU), published by my Department in April and is replicated in the following table. General government debt € billion Government Bonds...

Written Answers — Department of Finance: Tax Reliefs Availability (17 Jun 2014)

Michael Noonan: Tax relief is not available to parents in respect of creche fees or childcare costs. However, I can assure the Deputy that the Government acknowledges the continuing cost pressures on parents, particularly those with young children. In recognition of these cost pressures, a number of support measures are in place to ease the burden on working parents. These include the...

Written Answers — Department of Finance: VAT Exemptions (17 Jun 2014)

Michael Noonan: I am advised by the Revenue Commissioners that it is not possible to provide a definitive answer based on the information provided by the Deputy.  I would point out that the letting of immovable goods is exempt from VAT under the EU VAT Directive with which Irish VAT law must comply.  However, prior to April 2007 a person who acquired immovable  goods for residential lettings...

Written Answers — Department of Finance: Tax Compliance (17 Jun 2014)

Michael Noonan: The Deputy will be aware that the Revenue Commissioners have responsibility for the administration, collection, enforcement and audit aspects of all taxes and duties and that they are independent in the application of the Tax and Customs Acts. The Revenue Commissioners have informed me, however, that their approach to selecting cases for intervention is based on the presence of various risk...

Written Answers — Department of Finance: Tax Data (17 Jun 2014)

Michael Noonan: I am advised by the Revenue Commissioners that Deposit Interest Retention Tax (DIRT) on interest bearing deposits is returned on a four-times yearly basis by financial institutions: in April, July and October of the tax year in question and in the following January. Returns for each year are due by 15 January of the following year and the total value of DIRT due and paid is reported to...

Written Answers — Department of Finance: Household Savings Rate (17 Jun 2014)

Michael Noonan: Data relating to personal (or household) savings are compiled and published by the Central Statistics Office.  Household savings is defined as that part of household disposable income that is not used to purchase goods or services. The savings rate is the level of savings expressed as a percentage of household disposable income. These figures show that household savings as defined...

Written Answers — Department of Finance: Home Repossession Rate (17 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 156 and 157 together. The strong view of the Government is that, in respect of co-operating borrowers under the Central Bank's 'Mortgage Arrears Resolution Process', repossession of a person's primary home should only be considered as a last resort and that every effort should be made to agree a sustainable arrangement as an alternative to loss of ownership....

Written Answers — Department of Finance: Charities Regulation (17 Jun 2014)

Michael Noonan: The Deputy should be aware that the Minister for Finance has no role in regard to the administration of the Charities Exemption Scheme. Notwithstanding this, Revenue has advised me that it has received documentation recently relating to the merger in question. This documentation is currently being examined to ensure that the merged body is constituted and operated exclusively for charitable...

Written Answers — Department of Finance: IBRC Liquidation (17 Jun 2014)

Michael Noonan: I have been advised by the Special Liquidators that as disclosed in the Process Update dated 6 June 2014, contracts in relation to the sale of commercial loans in Projects Rock, Salt and Stone were entered into in February and March 2014. The account holders whose loan facilities were sold have all been written to individually with details of the date of legal transfer and the name of the...