Results 12,181-12,200 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Yield (27 Mar 2014)

Michael Noonan: I propose to take Questions Nos. 52 and 53 together. Finance Act 2013 provides members of occupational pension schemes with a three-year window of opportunity from 27 March 2013 during which they can opt to draw down, on a once off basis, up to 30% of the accumulated value of Additional Voluntary Contributions (AVCs). This provision includes additional voluntary contributions made to...

Written Answers — Department of Finance: Property Taxation Yield (27 Mar 2014)

Michael Noonan: I am informed by the Revenue Commissioners that by the end of December 2013 €318m had been transferred by Revenue to the Exchequer in respect of Local Property Tax (LPT). Of this amount, €242m was in respect of LPT for 2013 and €76m related to 2014 LPT. By the end of February 2014, a further €56.9m had been transferred to the Exchequer. The Commissioners have...

Written Answers — Department of Finance: Tax Yield (27 Mar 2014)

Michael Noonan: The information sought by the Deputy in relation to expected yields and actual outturns is available on my Department s website in respect of Capital Gains Tax (CGT) and all the other main tax heads on the following link: The following Table sets out for the years 2008 to 2013 inclusive the CGT performance against the Budget day estimated forecast in respect of the relevant...

Written Answers — Department of Finance: Excise Duties Issues (27 Mar 2014)

Michael Noonan: I understand the Deputy is asking what alternative sources of tax would be available to me as Minister for Finance should the excise duty derived from the sale tobacco products reduce significantly or disappear altogether. Excise receipts in respect of tobacco products tax amounted to some €1.1 billion in 2013. It is assumed that any reduction in the tax take from...

Leaders' Questions (26 Mar 2014)

Michael Noonan: The Deputy should remember the questions he asked.

Written Answers — Department of Finance: Illicit Trade in Tobacco (26 Mar 2014)

Michael Noonan: I propose to take Questions Nos. 38 to 41, inclusive, together. The numbers of seizures of illicit cigarettes and other illicit tobacco products, and the quantities of product seized, in each of the years from 2011 to 2013, are set out in the table.     Cigarettes     Tobacco     Seizures Quantity (Million)   Seizures Quantity (Kgs) 2011 10,581 109.1...

Written Answers — Department of Finance: Tax Yield (26 Mar 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the yield from Tobacco Products Tax and the estimated VAT on Tobacco products for the years 2011 to 2013 are as shown in the table below.  The Value Added Tax receipts are estimated, as the VAT returns do not require the yield from a particular sector or sub-sector of trade to be identified.   - Tobacco Products Tax VAT (Estimated)...

Written Answers — Department of Finance: European Stability Mechanism (26 Mar 2014)

Michael Noonan: I propose to take Questions Nos. 43 and 45 together. The Euro-area Heads of State or Government (HoSG) agreed in June 2012 that "it is imperative to break the vicious circle between banks and sovereigns", and that when a Single Supervisory Mechanism (SSM), which forms part of an overall Banking Union proposal involving the ECB, is in place and operational, the European Stability Mechanism...

Written Answers — Department of Finance: European Stability Mechanism (26 Mar 2014)

Michael Noonan: The Single Resolution Mechanism (SRM) is a centralised resolution mechanism for Member States who belong to the Single Supervisory Mechanism (SSM). Its purpose is to ensure that resolution can take place at the same level as supervision, rather than being conducted at national level.  It is considered as an important contributing factor to breaking the link between the sovereign and the...

Written Answers — Department of Finance: Insurance Costs (26 Mar 2014)

Michael Noonan: The issue of flood cover, its availability and its cost, is one with which I am familiar. I am also very conscious of the difficulties that the absence of such cover can cause to householders and businesses.  However, it should be noted that the decision to provide any specific form of insurance cover and the price at which it is offered is a commercial matter based on the...

Written Answers — Department of Finance: Property Taxation Assessments (26 Mar 2014)

Michael Noonan: I propose to take Questions Nos. 47 and 49 together. In my reply to Question number 92 on 26 June 2013, I informed the House that a High Court challenge to the Local Property Tax (LPT) had been lodged. The House was also informed that the Chief State Solicitor was the solicitor on record acting for all State defendants and that the case was being vigorously defended by the Chief State...

Written Answers — Department of Finance: VAT Rate Application (26 Mar 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Article 135(1)(i) of VAT Directive 2006/112/EC provides a VAT exemption for "betting, lotteries and other forms of gambling, subject to the conditions and limitations laid down by each Member State". The European Court of...

Written Answers — Department of Finance: Economic Data (26 Mar 2014)

Michael Noonan: The methodology for calculating the output gap has been the subject of considerable technical discussions at EU level. Changes to the approach by which the output gap is estimated were endorsed by a high-level committee (the Economic Policy Committee) on March 19th 2014. This new methodology will form the revised harmonised approach which the European Commission will apply in their...

Written Answers — Department of Finance: Tax Collection (26 Mar 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the additional tax due is based on  information supplied to date by the person's tax agent.  Revenue have however contacted the tax agent, and it appears there may be some confusion to be resolved.  Revenue is now seeking to clarify the issues involved, and will directly notify the taxpayer of the outcome.

Written Answers — Department of Finance: Tax Reliefs Availability (26 Mar 2014)

Michael Noonan: Section 473A of the Taxes Consolidation Act 1997 provides for tax relief at the standard rate of income tax (20%) in respect of qualifying fees paid by an individual for a third level education course, including a postgraduate course.  No differentiation is made between a repeating student and a first time student.    Qualifying fees mean tuition fees in respect of an...

Written Answers — Department of Finance: Betting Regulations (25 Mar 2014)

Michael Noonan: Section 32 of the Betting Act 1931 deals with the prohibition of advertising relating to betting on football games and provides that, other than in the case of the distribution of advertising by the registered proprietor of a registered premises in such premises, "it shall not be lawful for any person to write, print, publish or knowingly circulate any advertisement,...

Written Answers — Department of Finance: Illicit Trade in Tobacco (25 Mar 2014)

Michael Noonan: I am advised by the Revenue Commissioners that numbers of fines imposed in the years in question in respect of offences relating to illicit tobacco products, and the total values of those fines, are as set out in the following table.  - 2011 2012 2013 No. of cases in which  fines were imposed 118 92 62 Total value of fines imposed €253,150 €248,100 €165,750...

Written Answers — Department of Finance: Property Taxation Application (25 Mar 2014)

Michael Noonan: I propose to take Questions Nos. 185 and 251 together. Based on the information supplied by the Deputies it is not possible to give definitive replies in relation to the specific cases. However, the following general information may be useful. For Local Property Tax (LPT) purposes a residential property is defined as any building or structure (or part of a building) which is used as, or is...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (25 Mar 2014)

Michael Noonan: Senior officials of the Department of Finance have already exchanged working papers on this subject with KfW and the German Ministry of Finance.  There have been meetings on this matter in Berlin, Frankfurt and Dublin as well as numerous teleconferences, most recently in the last week. The NTMA and the Department of Finance are currently working on the detail of the debt products to be...

Written Answers — Department of Finance: Household Charge Collection (25 Mar 2014)

Michael Noonan: I am advised by Revenue that Section 156 of the Finance Local Property Tax Act 2012 (as amended) converted any arrears of Household Charge (HHC) that were still outstanding on 1 July 2013 to Local Property Tax (LPT) and increased the amount due per individual property to €200. Revenue has confirmed to me that because all arrears of HHC are now converted to LPT, the outstanding...