Results 11,481-11,500 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Data (27 May 2014)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how a residential property is to be valued for Local Property Tax (LPT) purposes. As LPT is a self-assessed tax, the amount of LPT due on a property is based on the self-assessed valuation at 1 May 2013 that was declared by the liable person when filing the 2013 LPT1 Return. I am informed by the Revenue Commissioners that...

Written Answers — Department of Finance: Bank Codes of Conduct (27 May 2014)

Michael Noonan: Parliamentary Question 68 answered on the 15thMay 2014 was in relation to an individual case. It is not appropriate for me, as Minister, to become involved in such cases. However, I hope the general information in relation to early repayment and mortgage arrears provided in the answer was of value to the Deputy. I would like to remind the Deputy that the Financial Services...

Written Answers — Department of Finance: Tax Rebates (27 May 2014)

Michael Noonan: I am advised by the Revenue Commissioners that due to an error on Revenue's part, the taxpayers concerned paid an excessive amount of tax for the years in question. Revenue's records reflected that the taxpayers were in receipt of a payment from the Department of Social Protection when in fact they were not. On 3 April 2014 the taxpayers requested a full review of their tax affairs. A...

Written Answers — Department of Finance: Black Economy (27 May 2014)

Michael Noonan: As I stated in my previous reply to the Deputy, I introduced the Home Renovation Incentive in Finance Act (No 2) 2013. The aim of the Incentive is to support tax compliant building contractors by moving activity out of the shadow economy into the legitimate economy. In order to qualify for the tax credit, the works must be carried out by legitimate contractors on a homeowner's main...

Written Answers — Department of Finance: Banking Sector Investigations (27 May 2014)

Michael Noonan: In line with normal practice AIB is precluded from discussing or divulging details of individual customer circumstances. The bank is also precluded from commenting in any way on matters that are the subject of a Garda investigation or on any allegations of criminal acts and malpractice.

Written Answers — Department of Finance: Tax Settlements (27 May 2014)

Michael Noonan: I am advised by Revenue that the 'taxation issues' to which the Deputy refers in his Question arose from a Revenue audit. I am further advised that responsibility for the correct calculation and timely payment of tax is always the responsibility of the individual taxpayer, notwithstanding that a tax practitioner or company accountant may be engaged to manage the various issues. In relation...

Written Answers — Department of Finance: Mortgage Repayments Issues (27 May 2014)

Michael Noonan: I propose to take Questions Nos. 162 and 163 together. Firstly, I must confirm to the Deputy that it is not appropriate for me, as Minister for Finance to comment on or become involved in the detailed mortgage position of mortgage holders. The Central Bank has responsibility for the regulation and supervision of financial institutions in terms of consumer protection and prudential...

Written Answers — Department of Finance: Home Repossession Rate (27 May 2014)

Michael Noonan: There are no estimates or projections for the level of repossessions that may arise due to mortgage default. While the repossession of a principal dwelling house consequent upon mortgage default should only be considered as a last option for a person in genuine difficulty, repossessions do arise and this can be expected to continue as long as the mortgage crisis remains. It should be noted,...

Written Answers — Department of Finance: Homeless Accommodation Provision (27 May 2014)

Michael Noonan: The Deputy may be aware that NAMA has identified over 4,600 residential properties, controlled by its debtors and receivers, as being available and potentially suitable for social housing provision. Local authorities, working through the Housing Agency, have confirmed demand for just over 1,800 of these properties. To end-March 2014, 684 of these 1,800 residential properties had been...

Written Answers — Department of Finance: National Debt (27 May 2014)

Michael Noonan: National debt cash interest and General Government interest expenditure for the years 2012 to 2014 are set out in the following table. National Debt Cash Interest - 5,679 7,316* 7,752 € million - 2012 2013 2014** Interest Expenditure (EDP_D41) - 6,135 7,681 7,966 *Provisional unaudited outturn. **April 2014 SPU forecasts. A high level breakdown of interest payable by debt product...

Written Answers — Department of Finance: National Debt (27 May 2014)

Michael Noonan: The proceeds of all borrowing as well as revenues including tax and non-tax, and capital receipts are lodged to the Exchequer account to fund general expenditure. In general terms, no specific tranches of borrowing were undertaken solely for the purpose of recapitalising the banking sector. Therefore, that part of the debt interest bill that relates to general borrowing used to recapitalise...

Written Answers — Department of Finance: National Debt (27 May 2014)

Michael Noonan: General Government debt is the standard measure of Government debt used for comparative purposes throughout the European Union.  At the end of 2013, general Government debt stood at an estimated €202.9 billion or 123.7 per cent of GDP. A breakdown of the composition of general Government debt is available on page 17 of Ireland's Stability Programme April 2014 Update. The...

Written Answers — Department of Finance: VAT Exemptions (27 May 2014)

Michael Noonan: VAT law is governed by the EU VAT Directive, with which Irish VAT law must comply.  The EU VAT Directive makes specific provision under Articles 148 and 169, for a zero rate of VAT to apply to the supply of vessels for rescue or assistance at sea.  Irish VAT law transposed this provision in 1978 by providing that the zero rate of VAT apply to the supply of large vessels used for sea...

Written Answers — Department of Finance: Mortgage Schemes (27 May 2014)

Michael Noonan: The decision on the approval of a mortgage for a borrower is a commercial decision for the lending institution concerned.  It is important that each lending institution is allowed to properly and independently assess the risks that it is considering when deciding whether to approve a loan.   The Central Bank of Ireland  (CBI) has advised me that Chapter 5 of its...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (27 May 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the relevant legislation governing the Drivers & Passengers with Disabilities Scheme is contained in Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No: 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994. Where a family member of a person with a disability purchases a...

Written Answers — Department of Finance: Tax Credits (27 May 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that the person concerned has submitted a claim for one parent family credit for the tax year 2010.  This claim has been allowed and a PAYE Balancing Statement (P21), including the tax credit issued to the person concerned on 9 March 2011. The Revenue Commissioners further advise that they have no record of a claim for one parent family...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (27 May 2014)

Michael Noonan: As the Deputy is aware in April 2013 the European Court of Justice ruled that the excise relief on fuel element of the Disabled Drivers and Disabled Passengers Scheme is incompatible with the EU Energy Tax Directive.  My Department has informed the European Commission of my intention to remove the excise relief element of the scheme at the end of 2014 and replace it with a fuel...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (27 May 2014)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and Vehicle Registration Tax (up to a maximum of €9,525 for a driver with a disability, and a maximum of €15,875 for a passenger with a disability) on the purchase of a car adapted for the transport of a person with specific severe and permanent physical disabilities, to those who meet...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (27 May 2014)

Michael Noonan: As the Deputy will be aware, the Government on Thursday 22 May 2014 announced that over €500million in additional credit will be made available to Irish SMEs through the establishment of the Strategic Banking Corporation of Ireland (SBCI). The SBCI is a new company and it is intended that it will be initially financed by the German Promotional Bank KfW, the European Investment...

Written Answers — Department of Finance: Economic Competitiveness (27 May 2014)

Michael Noonan: Substantial progress has been made in improving Ireland's competitiveness in recent years.  The real Harmonised Competitiveness Indicator (HCI) measures the trade weighted exchange rate for Ireland, adjusted for relative price developments in trading partners.  From mid-2008 to end-2013 Ireland's real HCI fell by 15 per cent, indicating a significant improvement in...