Results 12,641-12,660 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Bank Charges (20 Feb 2014)

Michael Noonan: Bank fees, charges and commissions are subject to regulation under Section 149 of the Consumer Credit Act 1995, as amended. Section 149 came into effect in 1996 and currently requires that credit institutions, prescribed credit institutions and bureaux de change must make an application to the Central Bank if they wish to introduce a new customer charge or increase any existing...

Written Answers — Department of Finance: Customs and Excise Staff (19 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners that their office is an integrated tax and customs administration and it is not feasible to dis-aggregate the staffing resources deployed exclusively on Customs and Excise or drugs enforcement work. The Revenue Commissioners have around 2,000 staff engaged on activities that are dedicated to target and confront non-compliance. These activities include...

Written Answers — Department of Finance: Banking Sector Remuneration (19 Feb 2014)

Michael Noonan: AIBs disclosures in relation to directors remuneration are made annually as part of AIBs Annual Financial Report. The remuneration of the Chief Executive Officer as an executive director is included in this. The remuneration data for 2013 will be available following the release of AIBs 2013 Annual Financial Report later this quarter. The most recent disclosures in relation to...

Written Answers — Department of Finance: NAMA Property Sales (19 Feb 2014)

Michael Noonan: I would remind the Deputy that, as Minister for Finance, I have no role in relation to the day-to-day detail of NAMA's sales strategy. It would not be appropriate for me to comment further on an individual property or transaction. The asset was sold by the appointed Receiver after being openly marketed.  What a purchaser does thereafter is a matter for them. On the general social...

Written Answers — Department of Finance: VAT Rate Application (19 Feb 2014)

Michael Noonan: VAT is charged on the supply of goods and services, and the rate applying is subject to the requirements of EU VAT law with which Irish VAT law must comply.  While most tourist related services are subject to the 9% reduced VAT rate, it is not possible to extend this treatment to all tourist activity, such as beauticians working in the tourism industry. While hairdressing services...

Written Answers — Department of Finance: Pension Provisions (19 Feb 2014)

Michael Noonan: Section 17 Finance Act 2013 introduced a new section 782A into the Taxes Consolidation Act (TCA) 1997 which provides members of occupational pension schemes with a three-year window of opportunity to draw down, on a once-off basis, up to 30% of the accumulated value of certain AVCs made by them, including additional voluntary PRSA contributions made to AVC PRSAs. I understand that pension...

Written Answers — Department of Finance: Property Taxation Collection (19 Feb 2014)

Michael Noonan: I am informed by the Revenue Commissioners that 2013 year-end compliance data for the Local Property Tax (LPT) and preliminary data in relation to 2014 are available broken down by city and county councils nationally and the most up to date figures were published on 18 February on the Commissioners website at: . The Commissioners have confirmed that by the end of December 2013 €318m...

Written Answers — Department of Finance: Property Taxation Application (19 Feb 2014)

Michael Noonan: The central national rates of LPT are 0.18% on values up to €1 million and 0.25% on any excess over €1 million. When I introduced the Finance (Local Property Tax) Bill to the House, I stated that  the central rate would not vary for the lifetime of this Government. I have not considered any variation from this position.

Written Answers — Department of Finance: Tax Rebates (19 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners that following clarification of the pay and tax details of the person in question, they are now in position to make the tax refund. A PAYE Balancing Statement for the year 2007 has now issued to the person concerned and a cheque in respect of the refund will follow shortly.

Written Answers — Department of Finance: Tote Licences (19 Feb 2014)

Michael Noonan: As the Deputy will be aware from a previous answer given to a PQ on this topic on 5th February, to date only two bodies are licensed under the Totalisator Act of 1929 to operate a tote (Bord na gCon and Horse Racing Ireland).  The primary purpose of this arrangement is to fund the horse and greyhound industry in Ireland. The licence for Tote Ireland (operated by Horse Racing Ireland)...

Written Answers — Department of Finance: Banking Sector Issues (19 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 89 to 92, inclusive, together. There is no impediment on any person from making any complaint to the Central Bank about a bank or an employee of a bank. The Central Bank may not, however, in every instance be the most appropriate authority to whom the compliant should be made. This will depend on the subject matter of the complaint. Pursuant to Section...

Written Answers — Department of Finance: Banking Sector Regulation (19 Feb 2014)

Michael Noonan: A whole series of reforms have been introduced since the financial crisis to underpin a more effective and efficient financial regulatory regime.  The Central Bank Reform Act 2010 gave effect to significant structural changes in the operation of financial regulation in Ireland. The Act created a single unitary body - the Central Bank of Ireland - responsible for...

Written Answers — Department of Finance: Unfinished Housing Developments (19 Feb 2014)

Michael Noonan: Due to reasons of client confidentiality, AIB is limited in what can be disclosed in respect of individual cases. In all cases AIB is committed to supporting its cooperative clients in the appropriate remediation of Unfinished Housing Developments. However AIB has informed me that its representatives are in dialogue with Offaly County Council in respect of bond works....

Written Answers — Department of Finance: Property Taxation Data (19 Feb 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the various types of expenses that can be deducted by a landlord in calculating taxable rental income are specified in section 97 of the Taxes Consolidation Act 1997 and that expenses are not deductible unless they are specifically authorised. In that regard, subsection (2)(b) of that section provides for a deduction in respect of any rate...

Written Answers — Department of Finance: Security Checks (19 Feb 2014)

Michael Noonan: My Department is aware of the importance of maintaining security given the commercially sensitive meetings held in the Department and the sensitive information held by the Department.  In the interests of security, key offices and meeting rooms within my Department have been swept for monitoring devices from time to time.  No concerns have been raised on the basis of these sweeps.

Written Answers — Department of Finance: Property Taxation Application (19 Feb 2014)

Michael Noonan: For Local Property Tax (LPT) purposes a residential property is defined in the legislation as any building or structure or part of a building which is used as, or is suitable for use as, a dwelling. I am advised by the Revenue Commissioners that as LPT is a self-assessed tax it is a matter for the property owner to determine if the property is suitable for use as a dwelling. If the...

Written Answers — Department of Finance: Tax Exemptions (19 Feb 2014)

Michael Noonan: The Start Your Own Business (SYOB) scheme, introduced by the Finance (No. 2) Act 2013, provides for relief from Income Tax for long term unemployed individuals who start their own new unincorporated business. The scheme provides an exemption from Income Tax up to a maximum of €40,000 per annum for a period of two years to individuals who set up a qualifying business;...

Written Answers — Department of Finance: Tax Collection (19 Feb 2014)

Michael Noonan: I assume the Deputy is referring to the windfall gains provisions in Sections 644AB and 649B Taxes Consolidation Act 1997, introduced by Section 240 National Asset Management Agency Act 2009 and amended by Section 25 Finance Act 2010, which apply an 80% rate of tax to the profits or gains from land disposals where those profits or gains are attributable to a relevant planning decision by a...

Written Answers — Department of Finance: Property Taxation Administration (18 Feb 2014)

Michael Noonan: The legislation governing the administration of Local Property Tax (LPT) provides for a number of exemptions from LPT, two of which are particularly relevant to those who purchase a residential property. Firstly, section 8 of the Finance (Local Property Tax) Act 2012 (as amended) provides an exemption from LPT for a property, either new or second hand, purchased between 1 January 2013 and...

Written Answers — Department of Finance: Universal Social Charge Application (18 Feb 2014)

Michael Noonan: The Universal Social Charge (USC) was introduced in Budget 2011 to replace the Income Levy and the Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit. It is a more sustainable charge than those it replaced.  It is applied at a low rate on a wide base.  I should point out that it was never intended that...