Results 1,201-1,220 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Cyber Security Policy (14 Feb 2017)

Michael Noonan: In response to the Deputy, I wish to advise that ICT services to the Department of Finance are provided by the Office of the Government Chief Information Officer (OGCIO) under the Department of Public Expenditure and Reform.  On behalf of my Department, the OGCIO implements a multi-layered approach to cyber security and to protecting ICT systems, infrastructures,...

Written Answers — Department of Finance: Insurance Costs (14 Feb 2017)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Property Tax Administration (14 Feb 2017)

Michael Noonan: The Government decided that the LPT should be centred on the principles of equity, transparency and simplicity and that a universal liability should apply to all owners of residential property with a limited number of exemptions and reliefs.  Limiting the reliefs available allows the rate to be kept to a minimum for those liable persons who do not qualify for relief. Properties in...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (14 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 148 and 159 together. The Help To Buy (HTB) scheme is available nationally and individuals are required to complete a two-stage online process; an application and then a claim.  I am advised by Revenue that the number of Help To Buy applications received up to 10 February 2017 was: No. of Applications Successful applications *Pending 2586 620 1,966...

Written Answers — Department of Finance: VAT Exemptions (14 Feb 2017)

Michael Noonan: Schedule 1 of the Value-Added Tax Consolidation Act 2010 lists the activities that are exempt from VAT which includes the provision of services by a funeral undertaker but does not extend to the supply of graves. The supply of a grave in a graveyard that is more than 5 years old is also exempt from VAT, but the supply of a grave in a newly developed graveyard is liable to the reduced rate of...

Written Answers — Department of Finance: Revenue Commissioners Resources (14 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 150, 151 and 158 together. As the Deputies will be aware, it is long established that Revenue are independent in the exercise of their functions and this is now set out in Section 101 of the Minister and Secretaries (Amendment) Act 2011.  I have no power to instruct them on matters relating to those functions including how and where they allocate their...

Written Answers — Department of Finance: Financial Services Sector (14 Feb 2017)

Michael Noonan: The Central Bank has previously informed me that, in accordance with section 33AK of the Central Bank Act 1942, the Central Bank is prohibited from disclosing confidential information concerning the business of a credit institution otherwise than in accordance with the Supervisory Directives (which include the Directive 2013/36/EU). On the issue more generally, the Central Bank...

Written Answers — Department of Finance: Tax Data (14 Feb 2017)

Michael Noonan: I am advised by the Tax Appeals Commission that the number of appeals before the Commission on the first day of each of the past twelve months is as follows: 01-Feb 01-Mar 01-Apr 01-May 01-Jun 01-Jul 01-Aug 01-Sep 01-Oct 01-Nov 01-Dec 01-Jan Totals 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2016 2017 2016 Cases 25 57 94 168 228 303 392 449 516 572 626 690 690 Open cases...

Written Answers — Department of Finance: Legislative Measures (14 Feb 2017)

Michael Noonan: The objectives of the Finance (Tax Appeals) Act 2015 were to bring reform of the role, functions and structure of the Office of the Appeal Commissioners and of the tax appeals system with a view to ensuring an enhanced and cost effective appeal mechanism for tax cases. The Act, which was commenced on 21st March 2016, inter alia provides for the establishment of the Tax Appeals Commission...

Written Answers — Department of Finance: Financial Services Sector (14 Feb 2017)

Michael Noonan: I was not formally made aware of the issue to which the Deputy refers, but of course I had seen reports in the media about it.  The Deputy will be aware that the Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 introduced a regulatory regime for a new type of entity called a 'credit servicing firm'.  Under the Act, purchasers of loan books must either be...

Written Answers — Department of Finance: Tax Code (14 Feb 2017)

Michael Noonan: A single parent may be eligible for the Single Person Child Carer Credit of €1,650 per annum. This credit also provides an entitlement to an additional €4,000 extended standard rate band. A single individual with no children is entitled to a standard rate band of €33,800. An individual in receipt of the SPCCC is entitled to a standard rate band of €37,800....

Written Answers — Department of Finance: Tax Exemptions (14 Feb 2017)

Michael Noonan: It is unclear as to whether the Deputy's question relates to charitable status or charitable tax exempt status. The former relates to the regulatory control of charities, and the processing of applications for charitable status, is a matter for the Charities Regulatory Authority (CRA), which was established in October 2014 under the aegis of the Department of Justice and Equality. The...

Written Answers — Department of Finance: IBRC Operations (14 Feb 2017)

Michael Noonan: I am advised by the Special Liquidators of IBRC that there were no active Section 110 structures in place at the time of their appointment. However, they have identified at least two historic loan securitisation transactions that involved the use of Irish Section 110 structures which were unwound prior to their appointment. The information available to the Special Liquidators...

Written Answers — Department of Finance: Help-To-Buy Scheme (14 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 163 and 164 together. Under the Help to Buy (HTB) scheme first-time home purchasers are required to ensure that they purchase from a 'qualifying contractor'.  I am advised that up to 10 February 2017 there were 138 applications for registration as a 'qualifying contractor' and Revenue has approved 55 contractors. The remaining applications...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (14 Feb 2017)

Michael Noonan: As the Deputy is aware, all investments made by the Ireland Strategic Investment Fund (ISIF) are assets of the State and any profits generated from ISIF investments are used to fund new investments on behalf of the State in accordance with ISIF's legislative mandate.  The use of Section 110 companies by Irish Investors, including entities such as ISIF, is not a concern as profits from...

Written Answers — Department of Finance: Home Repossessions (14 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 166 and 167 together. I am informed by the Central Bank that it does not have the data requested.  The Central Bank publishes only aggregate data for PDH and BTL accounts regarding the number of properties in possession at the beginning and end of each quarter, the number of properties repossessed on foot of a Court Order, the number of properties...

Written Answers — Department of Finance: Banking Sector (14 Feb 2017)

Michael Noonan: I am very supportive of innovation, increased competition and efficiency in the payments market.  In 2015 I announced a reduction in interchange fees, making it cheaper for merchants to accept debit cards. I also announced an increase in the limit on contactless payments from €15 to €30 and reformed stamp duty to remove it from debit cards; replacing it with...

Written Answers — Department of Finance: Corporation Tax Regime (9 Feb 2017)

Michael Noonan: At 12.5%, Ireland has one of the most competitive and stable headline corporate tax rates in the OECD.  Our competitive rate of corporation tax has been an important part of our industrial policy since the 1950s, and has attracted real and substantive operations to Ireland since then. A competitive corporate tax rate is a tool to address the economic limitations that come with being...

Written Answers — Department of Finance: Job Creation Data (9 Feb 2017)

Michael Noonan: The table sets out my Department's Budget 2017 employment projections. Overall, it is forecast that approximately 190,000 net additional jobs will be created over the five year period from 2016 to 2021. For this year, employment growth of 2.1 per cent (almost 45,000 jobs) is projected. For next year, employment gains of 2.1 per cent (approximately 40,000 jobs) are anticipated.  Over...

Written Answers — Department of Finance: State Aid Investigations (9 Feb 2017)

Michael Noonan: The European Commission published the Final Decision into the Apple State Aid case in December 2016. This document was sent to Ireland at the end of August 2016. Ireland does not accept the Commission's analysis, which is why we have lodged an application with the General Court of the European Union to annul the whole Decision. Notwithstanding our appeal, Ireland is obliged to comply...