Results 11,861-11,880 of 27,019 for speaker:Michael Noonan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: There were bilateral meetings between the countries and the Commission. One country, for example, which I will not name, had the tap turned off on the transfer of funds which it was getting under one of the European programmes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: Speaking from memory I do not recall Germany being admonished with country-specific recommendations which were enforced.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: Under the semester I do not recall specific recommendations for Germany. We would like to see Germany reducing its current account surplus because a model where everybody eliminates deficits and nobody reduces surpluses does not seem to be tenable in the long term unless we run a balance of payments surplus with the rest of the world on a continuing basis. I do not think that is the way to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: I do not think the figures are changing month-by-month in Europe, or in this country either, but it is possible now to identify certain trends both in the Irish economy and in the European economy. On ten-year bond interest rates, the trend has been downward but that is for reasons that were well planned in the Department of Finance and through the NTMA. Effectively, we are de-risking the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: On Deputy McGrath's first question, I am as confident as any finance Minister in Europe can be about how events will play out by the end of the year. We also are not that enthusiastic about GDP figures because GNP is a more accurate measure of how the Irish economy is going now than GDP. As the Deputy knows, GDP includes all the foreign stuff whereas GNP is more or less the domestic economy...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: No. It is the practice in Europe to involve Parliament more than was the case previously. One of the reasons it is in draft form is that any acute observations made here can be incorporated in the final draft which will then be sent to the Commission at the end of April.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: We had to think it out for ourselves in the main. The Chairman and I were involved in much of the conversations. It is not possible, in my view, to have a currency union which does not have a fiscal union or something very close to it because there is always the risk that countries within the currency union which do not obey moderate fiscal rules will drag down everyone else. The move...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: I thank the Chairman for inviting me to appear before the committee to discuss Ireland's Stability Programme - April 2014 Update. The document was approved by the Government earlier today, with this meeting being the first public engagement on the update. In a new departure, the Government is making the document available in draft form with a view to facilitating constructive and robust...

Written Answers — Department of Finance: Tax Clearance Certificates (15 Apr 2014)

Michael Noonan: I am advised by Revenue that Tax Clearance certification (TCC) is withheld in circumstances where the applicant has not filed all the tax returns, including Local Property Tax (LPT), for which s/he is registered and paid all liabilities that are due.  With regard to the individual case to which the Deputy refers, Revenue has advised me that an application for Tax Clearance was received...

Written Answers — Department of Finance: Banking Sector Regulation (15 Apr 2014)

Michael Noonan: In response to the Deputy's question the Moriarty Tribunal made a number of recommendations which affected a number of Government Departments. As Minister for Finance I can only respond in relation to the recommendations made in relation to my own Department. The tribunal pointed out problems to be addressed in our system of financial regulation. Poor supervision, an overly-deferential...

Written Answers — Department of Finance: Fuel Laundering (15 Apr 2014)

Michael Noonan: I propose to take Questions Nos. 153 to 162, inclusive, together. I am advised by the Revenue Commissioners that the numbers of oil laundries detected and closed down in the period from 2010 to 2013 was 33. Details of those detections, by year and the counties in which they occurred, are set out in the following table. Year Cavan Donegal Dublin Laois Louth Meath Monaghan Offaly Waterford...

Written Answers — Department of Finance: Fuel Rebate Scheme (15 Apr 2014)

Michael Noonan: I introduced this scheme in the Finance Act 2013 in order to provide for a repayment to qualifying road haulage and bus operators of a part of the mineral oil tax paid on their purchases of auto-diesel for use in the course of business.  In order to address the risk of widespread abuse of the scheme, provision was made for certain restrictions on the means by which the auto-diesel...

Written Answers — Department of Finance: Revenue Commissioners Powers (15 Apr 2014)

Michael Noonan: The Revenue Commissioners have a responsibility to apply the Tax and Customs Acts passed by the Oireachtas and to collect the revenues due to the State. I might remind the Deputy that the Commissioners are independent in the application of those Acts and the handling of individual cases is a matter for them, subject of course to taxpayers rights of appeal and recourse to the Courts and to the...

Written Answers — Department of Finance: Tax Reliefs Availability (15 Apr 2014)

Michael Noonan: A scheme of capital allowances was available for qualifying capital expenditure incurred on the construction or refurbishment of private hospitals from 2002 onwards. The phasing out of the relief was announced in Budget 2009, not just for private hospitals but also in respect of other health related facilities such as registered nursing homes, convalescent homes and mental health centres....

Written Answers — Department of Finance: Departmental Legal Costs (15 Apr 2014)

Michael Noonan: Consultancy costs for the period in question (which includes legal costs) are now provided on my Department's website. The total legal costs incurred by my Department in 2011, 2012 and 2013 are outlined in the table below:   Year 2011 2012 2013 Legal Costs €1,434,119 €3,169,031 €2,887,327 €4.3m has been provided for 2014 in respect of transactional,...

Written Answers — Department of Finance: Public Relations Contracts Expenditure (15 Apr 2014)

Michael Noonan: I take it that the Deputy is referring solely to external public relations costs and not to advertising costs that would be incurred by my Department in the normal course of business, such as entries into telephone directories, the placing of advertisements in national newspapers, recruitment advertising, etc. For the years in question (2011 2014 to date) no such costs were incurred by my...

Written Answers — Department of Finance: Tax Clearance Certificates (15 Apr 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that a company of which the named individual is a Director has been refused a Tax Clearance Certificate. On 15 May 2013 the Revenue Commissioners wrote to the individual concerned outlining the reasons why a Tax Clearance Certificate could not issue. The named individual has a controlling interest in two companies which have ceased to trade....

Written Answers — Department of Finance: Property Taxation Collection (15 Apr 2014)

Michael Noonan: The issue of due dates for Local Property Tax (LPT) has been dealt with extensively in my replies to Questions raised in this House since November 2013, and also by the Chairman of the Revenue Commissioners in her appearance before the Joint Committee on Finance, Public Expenditure and Reform on 7 November 2013.  I would like to re-iterate that in accordance with the Finance (Local...

Written Answers — Department of Finance: Tax Code (15 Apr 2014)

Michael Noonan: Under the Stamp Duties Consolidation Act 1999, a stamp duty liability of €0.50 is chargeable on a "bill of exchange" where drawn on an account in the State. A "bill of exchange" is defined in section 1 of the Stamp Duties Consolidation Act 1999 as meaning a draft, an order or a cheque . Therefore, a bank draft  drawn on an account in the State is subject to a fixed duty of...

Written Answers — Department of Finance: Corporation Tax Regime (15 Apr 2014)

Michael Noonan: I understand that the Deputy is referring to correspondence from the European Commission regarding state aid enquiries into corporation tax. As the Deputy is aware, the Competition Directorate of the European Commission is currently conducting a review of corporate tax ruling procedures in various EU Member States in order to assess such practices under EU State Aid rules. ...