Results 13,961-13,980 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (19 Nov 2013)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. In Ireland the zero rate applies to printed books, including atlases, children’s picture, drawing and colouring books and books of music. It is possible for Ireland to apply the zero rate to printed books because Ireland applied the zero rate to these books on and...

Written Answers — Department of Finance: Revenue Commissioners Investigations (19 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that for reasons of taxpayer confidentiality the details cannot be provided to the Deputy. Where a company is in liquidation, the liquidation is subject to court supervision. It is a matter of public record that the Revenue appointed liquidator has raised some issues in the High Court in relation to the conduct of a director prior to liquidation of...

Written Answers — Department of Finance: IBRC Liquidation (19 Nov 2013)

Michael Noonan: The Special Liquidators are obligated to ensure that the assets of IBRC are sold at a price which maximises the overall return for its creditors including the State. As a result the Special Liquidators are currently in the process of devising and implementing a sales process in respect of these assets. The valuation process is on-going in respect of certain assets and I have been advised that...

Written Answers — Department of Finance: Tax Yield (19 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the total amount of VAT collected by the State to the end of October 2013 is €8,621.9 million but details from tax returns are not captured in such a way as to provide a basis for breaking down the figures by VAT rate. Certain non-Revenue data is used to provide indicative figures in the estimation of VAT yield by tax rate. This data...

Written Answers — Department of Finance: Property Taxation Data (19 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that compliance data for the Local Property Tax (LPT) for 2013 are compiled on the basis of the numbers of properties and are available broken down by city and county councils nationally. The most up to date figures are published on the Commissioners website at: . The Commissioners have confirmed that data on the average LPT amount paid within each...

Written Answers — Department of Finance: Tax Code (19 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners, who are responsible for collecting tax on coal, that under EU law, the introduction of any tax cannot give rise to import controls between member states. As a consequence, solid fuel carbon tax (SFCT) was introduced in the Finance Act 2010 but was not commenced, in light of concerns about the impact of the tax on cross-border sales of coal, until May...

Written Answers — Department of Finance: Illegal Moneylenders (19 Nov 2013)

Michael Noonan: Neither I nor the Central Bank have any role in relation to this matter. Illegal money lending is a criminal offence and a matter for An Garda Síochána to investigate. Such matters are relevant to the Minister for Justice and Equality in the first instance.

Written Answers — Department of Finance: Property Taxation Collection (19 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that property owners in respect of approximately 15,450 residential properties have opted to pay their 2013 Local Property Tax (LPT) by way of deduction at source from a Department of Social Protection payment. The Commissioners have confirmed that, in the vast majority of cases, deductions from DSP payments have already commenced and over €1m...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (19 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 174 and 177 together. Facilitating access to finance for SMEs is a key aspect of the Action Plan for Jobs 2013. It is the Government’s vision that all viable businesses operating in Ireland should have the opportunity to access sufficient finance to meet their enterprise needs in a manner that supports growth and employment in the economy. The...

Written Answers — Department of Finance: Single Euro Payments Area (19 Nov 2013)

Michael Noonan: The aim of the Single Euro Payments Area (SEPA) project is to create a single market for euro-denominated retail payments. SEPA is an EU initiative that will change the way that these payments are processed across Europe. SEPA will allow payment systems users to make euro-denominated retail electronic payments to payees located in any of the participating countries, using a single payment...

Written Answers — Department of Finance: Credit Review Office Reports (19 Nov 2013)

Michael Noonan: In his most recent quarterly report, the Head of the Credit Review Office observed that “the remaining banks continue to lend to low/medium risk credit applications” but that “credit reviewers see too many cases which may not ‘tick all the boxes’ on current bank lending policies and criteria, but are still bankable propositions”. The report states...

Written Answers — Department of Finance: Tax Residency Issues (19 Nov 2013)

Michael Noonan: The Programme for Government indicated that, as part of its fiscal policy, the Government will ensure that “tax exiles” make a fair contribution to the Exchequer. The Deputy may be aware I removed the “citizenship” condition for the Domicile Levy to ensure that individuals cannot avoid the levy by renouncing their citizenship. The first year for which the...

Written Answers — Department of Finance: Irish Fiscal Advisory Council Meetings (19 Nov 2013)

Michael Noonan: The Irish Fiscal Advisory Council was established on a statutory basis on the 31 December 2012 under the Fiscal Responsibility Act 2012. The Deputy should be aware that the Irish Fiscal Advisory Council is an independent body. The Fiscal Responsibility Act states that the Fiscal Council may regulate its own procedures (including quorum) and therefore this question is a matter for the...

Written Answers — Department of Finance: Irish Fiscal Advisory Council Reports (19 Nov 2013)

Michael Noonan: The Fiscal Council’s most recent Fiscal Assessment Report was published in April 2013. The Fiscal Council’s analysis and recommendations were considered in my Department’s preparation of its updated economic and fiscal projections, published in the Stability Programme Update. Chapter 5 of this Update contains the response to this report. This report was largely...

Written Answers — Department of Finance: EU-IMF Programme of Support Issues (19 Nov 2013)

Michael Noonan: As the Deputy will be aware, the Government decided on 14 November that Ireland is now in the best position to exit the EU-IMF programme of financial assistance on December 15 without the need to pre-arrange a new precautionary credit line from our EU and IMF partners. Following a careful and thorough assessment of all of the available options, and broad consultation with the European...

Written Answers — Department of Finance: Pensions Levy Issues (19 Nov 2013)

Michael Noonan: The pension fund levy applies to the market value, on the valuation date, of assets under management in pension funds and pension plans approved under Irish tax legislation. The moneys raised from the pension fund levy are being used to pay for the Government’s Jobs Initiative introducedin May 2011. The measures introduced as part of the Jobs Initiative include a new 9% VAT rate...

Written Answers — Department of Finance: International Tax Strategy (19 Nov 2013)

Michael Noonan: As I have outlined in the document "Ireland's International Tax Strategy", published on Budget day, the key word in relation to Ireland's international tax strategy is "openness". As the Deputy is aware Ireland is one of the most open economies in the world and we are "open for business". We will continue to compete fairly to attract business and foreign direct investment into Ireland. In...

Written Answers — Department of Finance: Stock Exchange Issues (19 Nov 2013)

Michael Noonan: The Irish Stock Exchange (ISE) is an important part of the economic and financial architecture in providing a publicly regulated venue by which investors can allocate capital resources to businesses. A listing on the ISE provides access to an alternative source of funds for a growing business, and the increased visibility that comes from being listed on the exchange increases their...

Written Answers — Department of Finance: European Stability Mechanism (19 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 185 and 186 together. The letter to which the Deputy refers was sent by the Taoiseach to the President of the European Council, Herman van Rompuy, and the Heads of State or Government in the 28 EU Member states, for information, prior to the October 2013 European Council. The Taoiseach wrote his letter against the background of our planned exit from the...

Written Answers — Department of Finance: European Stability Mechanism (19 Nov 2013)

Michael Noonan: I assume the question refers to the European Council conclusions following the meeting of EU Heads of State or Government in October of this year. The Council conclusions outline the hierarchy of decision making for bank recapitalisation. It continues to provide for ESM Direct Bank Recapitalisation (DBR) as part of this process. The ECOFIN Council agreed in June 2012 to break the vicious...