Results 12,281-12,300 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Credits (25 Mar 2014)

Michael Noonan: The Irish tax system applies a unified system of taxation to personal income which makes no differentiation between earned income (such as pay), and unearned income (such as rents).   An individual is liable to income tax in respect of his or her income arising from all sources.  Under joint assessment the incomes of both spouses and civil partners are aggregated.  When...

Written Answers — Department of Finance: Property Taxation Assessments (13 Mar 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. LPT is a self-assessed tax so it is a matter for the property owner to calculate the tax due based on his or her assessment of the market value of the property as at 1 May 2013. When completing their LPT Return last year, it was expected that...

Written Answers — Department of Finance: Credit Availability (13 Mar 2014)

Michael Noonan: The Government recognises that SMEs are the lifeblood of the economy and play a vital role in the continuing recovery of employment growth in our country.  Government policy since 2011 has focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources.  Similarly for a number of viable smaller and medium...

Written Answers — Department of Finance: Illicit Trade in Tobacco (13 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...

Written Answers — Department of Finance: VAT Rate Application (13 Mar 2014)

Michael Noonan: The Energy Tax Directive obliges all Member States to exempt jet fuel used by airlines and fuel used by shipping in Community waters from duty, but does not allow for a similar exemption to be applied to fuel used by road transport operators. The Directive does, however, allow Ireland and other Member States to give a rebate on diesel used by road transport operators and I introduced the...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (13 Mar 2014)

Michael Noonan: I am fully aware of the concerns raised by the IBRC mortgage holders regarding continued protection under the Central Bank's Code of Conduct on Mortgage Arrears (CCMA) for those mortgage holders following the sale of the loan book by the Special Liquidators. The Sale of Loan Books to Unregulated Third Parties Bill which is listed in the Government legislative...

Written Answers — Department of Finance: Mortgage Repayments Issues (13 Mar 2014)

Michael Noonan: The "split mortgage" was suggested by the Inter-Departmental Mortgage Arrears Working Group (Keane Report) as one of the possible viable options for restructuring a mortgage in certain circumstances.  As the Deputy is aware, the concept of a "split mortgage" involves splitting a distressed mortgage into an "affordable" mortgage and warehousing the balance.  I am informed by the...

Written Answers — Department of Finance: Customs and Excise Staff (13 Mar 2014)

Michael Noonan: I am advised by the Revenue Commissioners that, although staff are not based full-time at Ireland West Airport Knock, staff are present for the majority of flights, including all flights from high risk destinations as determined by Revenue's risk analysis and profiling systems. Attendance by Revenue Officers at Regional Airports, such as Ireland West Airport Knock, is selective and targeted...

Written Answers — Department of Finance: Commemorative Coins (13 Mar 2014)

Michael Noonan: The Deputy may be aware that, on 24 September 2013, the Central Bank launched a €15 Silver proof coin commemorating the centenary of the 1913 Dublin Lockout. While there are plans to issue a coin, in 2016, to commemorate the Easter Rising, details have not yet been finalised. The issue of coins to commemorate other historic events has not yet been decided.

Written Answers — Department of Finance: Banking Sector Issues (13 Mar 2014)

Michael Noonan: Officials from my Department have consulted with the Deputy's office and confirmed that the question relates to a transaction between Anglo Irish Bank and Irish Life and Permanent. A reference to a short term placement of €7.5 billion with ILP was contained in the Anglo Irish Bank Annual Report and accounts for the year ended 30 September 2008.   As the Deputy will be...

Written Answers — Department of Finance: Mortgage Interest Supplement Application Numbers (13 Mar 2014)

Michael Noonan: Mortgage Interest Relief (MIR) is paid by way of tax relief at source (TRS) through the relevant lending institutions. A county level breakdown of MIR is not required for the proper administration of the scheme and for that reason is not captured by Revenue's IT systems. However, for the Deputy's information, the following table sets out the total number of mortgage accounts that received...

Written Answers — Department of Finance: Property Taxation Collection (13 Mar 2014)

Michael Noonan: 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 18 February 2014 on the Commissioners website at: . The Commissioners have confirmed that by the end of December 2013 €318m had...

Written Answers — Department of Finance: Property Taxation Exemptions (13 Mar 2014)

Michael Noonan: The Government agreed with the recommendation of the Thornhill Group (the inter-Departmental Group, chaired by Dr Don Thornhill, which considered the structures and modalities of a property tax) that a universal liability to the Local Property Tax (LPT) should apply to all owners of residential property with a limited number of exemptions. Limiting the exemptions available allows the rate...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (13 Mar 2014)

Michael Noonan: The criteria relating to the engine size of a vehicle and the relief available for vehicles which qualify under the Disabled Drivers Passenger Scheme have been in place since 1989.  The purpose of the scheme was to provide for  ways in which people with a physical disability could become more mobile; it is felt that the present limit of 2000cc is sufficient to allow for an extensive...

Written Answers — Department of Finance: International Agreements (13 Mar 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the payments made to Ireland, under the agreements between the major tobacco manufacturers, the EU and participating Member States, in respect of the years 2008 to 2013, are as set out in the following table.   Payments to Ireland under International Tobacco Agreements  Year Total payments received by the Exchequer 2008...

Written Answers — Department of Finance: Tax Collection (13 Mar 2014)

Michael Noonan: I am advised by Revenue that the person in question has a poor tax compliance history over recent years and did not engage in meaningful discussions to resolve his outstanding liability despite being afforded a number of opportunities to do so. Due to the lack of engagement, I am advised that Revenue was left with no alternative but to refer the case to the Sheriff for collection.   ...

Written Answers — Department of Finance: Bank Debt Restructuring (13 Mar 2014)

Michael Noonan: I propose to take Questions Nos. 57 and 59 together. The Government recognises that SMEs are the lifeblood of the economy and play a vital role in the continuing recovery of employment growth in our country.  Government policy is focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. The Central Bank's...

Written Answers — Department of Finance: Bank Debt Restructuring (13 Mar 2014)

Michael Noonan: In relation to SME debt held by non-domestic banks, two issues arise.  Firstly, the core strategy of those banks in relation to the Irish banking market and secondly their plans to continue to service SME customers in the market.  As the Deputy will be aware recently Dankse Bank and ACC Bank have both indicated their intention to cease servicing the SME market and the focus at the...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (13 Mar 2014)

Michael Noonan: In anticipation of the establishment of the Ireland Strategic Investment Fund (ISIF), the National Pensions Reserve Fund (NPRF) has committed to a number of investments in Ireland including infrastructure, water, long-term financing for SMEs (both credit and equity) and venture capital.  A detailed table of the NPRF commitments to Irish investments at 31 December 2013 is set out as...

Written Answers — Department of Finance: Non-Resident Companies (13 Mar 2014)

Michael Noonan: Further to the announcement I made in Budget 2014, a change in company residence rules was made in Section 39 of the Finance (No. 2) Act 2013 to provide that where, by reason of a mismatch of residence rules with a treaty-partner country, an Irish-incorporated company would neither be resident in that country nor in the State and, accordingly, would not be resident in any country, the company...