Results 13,521-13,540 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Unions Regulation (3 Dec 2013)

Michael Noonan: The imposition of lending restrictions is the responsibility of the Registrar of Credit Unions - RCU - who is the independent regulator for credit unions at the Central Bank. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. I have...

Written Answers — Department of Finance: Tax Collection (3 Dec 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that they are of the view that the correct amount of tax is being deducted from the person concerned. Records indicate that the spouse of the person concerned is in receipt of taxable income from the Department of Social Protection. The tax credit has been reduced to take account of this taxable income.

Written Answers — Department of Finance: Property Taxation Application (3 Dec 2013)

Michael Noonan: Insufficient detail has been provided to enable me to comment on the specific case but the following general information is relevant. In accordance with the Finance (Local Property Tax) Act 2012 (as amended), liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which was 1 May 2013 for 2013 and for subsequent years is 1...

Written Answers — Department of Finance: Property Taxation Administration (3 Dec 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the Local Property Tax (LPT) helpline 1890 200 255 number is a low cost phone service and is not a premium rate number. The charge for this service is based on local rates and the cost of the call is shared between the calling party and the called party. The Commissioners use 1890 “LoCall” numbers for some of their most popular...

Written Answers — Department of Finance: Tax Yield (3 Dec 2013)

Michael Noonan: I am informed by the Revenue Commissioners that Stamp Duty is charged at €2.50 per year per debit only card, €2.50 per year per ATM only card and €5 per combined (ATM and debit) card. In 2012, the yield from Stamp Duty on debit only cards was c. €30,000, the duty on ATM only cards yielded €1m, while the duty on combined ATM and debit cards yielded...

Written Answers — Department of Finance: Tax Reliefs Availability (3 Dec 2013)

Michael Noonan: As the Deputy is aware, there is a suite of measures currently in place to support parents with young families. I have no plans to introduce any further tax reliefs for those who adopt children. As adoption legislation is a matter for the Minister for Children and Youth Affairs, the Deputy may wish to direct his questions to that Minister.

Written Answers — Department of Finance: Property Taxation Administration (3 Dec 2013)

Michael Noonan: I am advised by Revenue that a key aspect of the work undertaken in connection with the administration of Local Property Tax (LPT) was the development of a register of residential properties in the State. The process involved consolidating property address data, which was extracted from various Government and non-Government sources, in respect of almost two million records. In some...

Written Answers — Department of Finance: Tax Yield (3 Dec 2013)

Michael Noonan: I am advised by Revenue that the information sought by the Deputy is not maintained in a format that easily facilitates extraction of the specific figures from the overall income tax take. However, on the basis of an estimated ‘sectoral’ analysis of taxes collected annually, Revenue has calculated that the net income tax (inclusive of the Universal Social Charge) collected...

Written Answers — Department of Finance: IBRC Expenditure (3 Dec 2013)

Michael Noonan: I have been informed by the Special Liquidators of IBRC that they have been unable to obtain the information requested by the Deputy in the time available. I will write to the Deputy directly with the information as soon as it becomes available.

Written Answers — Department of Finance: Property Taxation Assessments (3 Dec 2013)

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. For the purposes of LPT, values for properties under €1...

Written Answers — Department of Finance: Exchequer Returns Issues (3 Dec 2013)

Michael Noonan: Net Exchequer borrowing in 2011, 2012 and to end-October 2013 is shown in the table below: € million 2011 2012 2013 (to end-October) Net Borrowing1 27,046 21,050 13,408 Applied as follows: - Exchequer Borrowing Requirement (EBR) 24,918 14,892 10,526 - Increase in Exchequer Deposits & Other Balances 2,128 6,158 2,883 Source: Finance Accounts 2012 and end-October 2013...

Written Answers — Department of Finance: Living City Initiative (3 Dec 2013)

Michael Noonan: The Deputy will be aware that I announced in my Budget Statement that the Living City Initiative, which was enacted in the Finance Act 2013, would be extended to now include the cities of Dublin, Cork, Galway and Kilkenny as well the original target cities of Limerick and Waterford. The inclusion of these four cities within the Initiative followed the results of a thorough independent ex ante...

Written Answers — Department of Finance: Departmental Functions (3 Dec 2013)

Michael Noonan: At the outset the Department of Social Protection has policy responsibility for the pensions system in Ireland from a social policy context as well as determining the future direction of how this policy should unfold. This policy area includes pensions adequacy to ensure sufficient income in retirement, the sustainability of the pension system in the light of demographic and investment...

Written Answers — Department of Finance: International Bodies Membership (3 Dec 2013)

Michael Noonan: EIOPA (European Insurance and Occupational Pensions Authority) was established by the EIOPA Regulation on 1 January 2011. It is part of the European System of Financial Supervision and is an independent advisory body to the European Parliament, the Council of European Union and the European Commission. EIOPA’s core responsibilities are to support the stability of the financial system...

Written Answers — Department of Finance: Public Sector Pensions Issues (3 Dec 2013)

Michael Noonan: I take it that the Deputy is referring to the encashment option provided for by section 787TA of the Taxes Consolidation Act 1997 which was inserted into that Act by section 18(7)(b) of the Finance Act 2012. In that regard, I would like to clarify that the encashment option confers no rights on public servants to early access to pension benefits. The encashment option operates in the context...

Written Answers — Department of Finance: Tax Credits (3 Dec 2013)

Michael Noonan: I assume that the Deputy is referring to the stamp duty levy that applies to the assets of funded pension schemes and plans approved by the Revenue Commissioners under Irish tax legislation. The chargeable persons for the levy are the trustees or other persons (including insurance companies) with responsibility for the management of the assets of the pension schemes or plans. The payment of...

Written Answers — Department of Finance: Pension Provisions (3 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 82 and 83 together. Regarding the start date for the changes I am making to the SFT regime, I indicated in my 2013 Budget Statement that changes would be introduced in 2014 to give effect to the commitment in the Programme for Government to cap taxpayers’ subsidies for pension schemes that deliver pension income of more than €60,000 per annum....

Written Answers — Department of Finance: Banking Sector Issues (3 Dec 2013)

Michael Noonan: Competition in the retail deposit market is a good thing for Irish customers. As the Deputy is aware, I have no function in setting the interest rates that commercial banks are willing to pay for deposits. I strongly urge customers to shop around and obtain the best rate they can for the type of account they want, the duration and the amount they are depositing. The National Consumer...

Written Answers — Department of Finance: EU Directives (3 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 85 and 86 together. The proposed 4th Anti-Money Laundering Directive seeks to update the 3rd Directive to take account of the February 2012 revision of the international standards for anti-money laundering requirements – the recommendations of the FATF (Financial Action Task Force). This is a very important piece of legislation and we continue to...

Written Answers — Department of Finance: Revenue Commissioners Investigations (3 Dec 2013)

Michael Noonan: I am advised by the Revenue Commissioners that while no specific projects have been undertaken in the recent past to identify the origin of funds used to acquire residential or other properties for cash, the Revenue Commissioners have a wide range of information sources available from which they can monitor cash purchases of houses and other real estate. Under Section 42 of the Criminal...