Results 13,541-13,560 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I announced in my 2014 Budget speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 will be abolished from the 31st of December 2014. I will, however, introduce an additional levy on pension funds at 0.15%. I am doing this to continue to help fund the Jobs Initiative, including the continuation of the reduced 9% VAT rate detailed below and to make provision for...

Written Answers — Department of Finance: Generic Drugs Substitution (3 Dec 2013)

Michael Noonan: As the Deputy will be aware, industrial production and exports of chemicals and pharmaceuticals have been impacted by declines in volumes since early 2012. This is most likely due to the expiry of patents on certain ‘blockbuster’ drugs, an effect known as the ‘patent cliff’. The patent cliff has also weighed down on GDP, given the comparatively large weighting of...

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

Michael Noonan: Due to the diverse nature of the tax and duty administration, Revenue maintains contracts with hundreds of suppliers. Revenue adheres to national and EU procurement rules and all its suppliers are required to have tax clearance. The company registration location of each supplier is not recorded on Revenue’s procurement system. In the last year, Revenue made payments to some 28...

Written Answers — Department of Finance: Property Taxation Administration (28 Nov 2013)

Michael Noonan: I am advised by Revenue that in the case referred to by the Deputy, the Local Property Tax (LPT) payment notification for 2014 issued to the person in question at an address previously used in respect of other taxes. A request to change the address was received by Revenue in April 2013 and was updated to the person’s tax record. However, the change did not transfer across to the...

Written Answers — Department of Finance: Property Taxation Application (28 Nov 2013)

Michael Noonan: I am advised by Revenue that multiple property owners are issued with a single PIN number and Property ID to enable them to submit Local Property Tax (LPT) returns and payments through the online system for all of their properties. On the specific case to which the Minister of State refers, Revenue has indicated that the correct PIN number and Property ID codes issued to the person in...

Written Answers — Department of Finance: Tax Credits (28 Nov 2013)

Michael Noonan: The One-Parent Family Tax Credit is a tax credit that is available to a single parent, or a single person who has custody of and maintains a qualifying child who is living with him or her for the whole or part of a year. The parent or person must not be married, civil partner or co-habiting. A qualifying child is someone who is under eighteen years of age at the start of the tax year, or if...

Written Answers — Department of Finance: National Treasury Management Agency Deposits (28 Nov 2013)

Michael Noonan: The proceeds of all borrowings by the Exchequer, including borrowing under the EU/IMF programme, as well as tax revenues, non-tax revenues and other receipts, are lodged to the Exchequer account at the Central Bank of Ireland to fund on-going Government expenditure. There are constant flows into and out of the Exchequer account and all moneys within it are fungible. The Government must ensure...

Written Answers — Department of Finance: Property Taxation Collection (28 Nov 2013)

Michael Noonan: I am advised by Revenue that it received no communication from either the person in question or his legal representatives in regard to a change of ownership in respect of the particular property. Revenue has also confirmed it has now investigated the ownership of the property and is satisfied that the person in question is no longer the liable person. On that basis Revenue has updated the...

Written Answers — Department of Finance: Primary Medical Certificates Applications (28 Nov 2013)

Michael Noonan: The disability criteria for eligibility for tax concessions under the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme are set out in the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994. To get the Primary Medical Certificate, an applicant must be severely and permanently disabled and satisfy one of the following conditions: a) be wholly or...

Written Answers — Department of Finance: Property Taxation Administration (28 Nov 2013)

Michael Noonan: 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, 1 November in the preceding year. The liability date of 1 November 2013, which applies for 2014, is settled and was approved by the Oireachtas in...

Written Answers — Department of Finance: Banks Recapitalisation (28 Nov 2013)

Michael Noonan: I can confirm for the Deputy that the Bank of Ireland Preference Shares held by the State can be redeemed at the sole discretion of the Bank at any time, subject to the approval of the Central Bank of Ireland. Any approval of the Central Bank of Ireland would take into account the regulatory capital position of the Bank at the time of such a proposal to redeem. Aside from the callable price...

Written Answers — Department of Finance: Tobacco Industry Lobbying (28 Nov 2013)

Michael Noonan: Officials from my Department have had a total of 4 meetings with representatives of the tobacco industry in 2013. Representatives of Imperial Tobacco, Philip Morris, PJ Carroll and the Irish Tobacco Manufacturers Advisory Committee were each met once during the year.

Written Answers — Department of Finance: Tax Code (28 Nov 2013)

Michael Noonan: The Report of the Forum on Philanthropy and Fundraising was published in May 2012. I understand that Recommendation IV of the report calls for the establishment of a “social innovation fund” to “support the establishment and growth of social innovations with the potential for transformative impact on critical social issues facing Ireland, including unemployment and the...

Written Answers — Department of Finance: Exchequer Revenue (28 Nov 2013)

Michael Noonan: I can confirm for the Deputy that proceeds from the sale of the Bank of Ireland convertible capital were deposited in the Exchequer. Funds in the Exchequer come from a number of different sources such as tax revenue, non-tax revenue including the sale of State Assets, and borrowings by the State from the market and under the EU/IMF Programme. As these funds are used in the day-to-day running...

Written Answers — Department of Finance: Vacancies on State Boards (28 Nov 2013)

Michael Noonan: In response to the Deputy's question the following table give details of the number of current vacancies on bodies under the remit my Department. Board Vacancies Name of Body No of current vacancies National Treasury Management Agency Advisory Committee 2 National Pensions Reserve Fund Commission 1 State Claims Agency Policy Committee (* It is proposed that this vacancy will be...

Written Answers — Department of Finance: Non-Tax Revenue Collection (28 Nov 2013)

Michael Noonan: I understand that a Debt Management Review project is underway, under the auspices of the Department of Public Expenditure and Reform, to consider issues in relation to the collection of non-tax revenue. This review includes many of the items listed by the Deputy. Revenue is a member of the Project Team and is contributing its expertise to the project. A report of findings will be presented...

Written Answers — Department of Finance: Irish Fiscal Advisory Council Reports (28 Nov 2013)

Michael Noonan: As the Deputy is aware, the most recent Fiscal Assessment Report from the Irish Fiscal Advisory Council was published last week. This report is currently being analysed by my Department and I intend to respond to the Irish Fiscal Advisory Council directly, in due course. As per commitments I have made before, there will be a comprehensive response to any Fiscal Assessment Report published by...

Written Answers — Department of Finance: Tax Collection (28 Nov 2013)

Michael Noonan: The Deputy will be aware that, following a consultation process in relation to changes required to the Pay & File dates, I have decided not to introduce any changes for 2014. However it remains my intention to bring the annual Pay & File dates forward. This is required in order to provide increased certainty around the annual tax take and forecasting process following the...

Written Answers — Department of Finance: Carbon Tax Yield (28 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the yield from the Carbon Tax levy in each year since its inception is shown in the following table. It should be noted that the receipts shown for Carbon Tax for 2013 are provisional and subject to revision. Carbon Tax 2010 (€m) 2011 (€m) 2012 (€m) 2013 (€m) – to end October Auto Diesel 98.41 97.53 130.78...

Written Answers — Department of Finance: IBRC Liquidation (28 Nov 2013)

Michael Noonan: The requirement for a payment from the State to NAMA, if any, will only be known once the liquidation process is completed. I have been informed by the Special Liquidators that they fully expect to comply with the time lines set out by me, as Minister, namely that the valuation of IBRC’s loan assets be completed by 30 November 2013 and that the sale of IBRC assets is agreed or...