Results 14,341-14,360 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Budget Measures (23 Oct 2013)

Michael Noonan: I assume the Deputy is referring to measures where such approval has yet to be obtained. In my Budget 2013 speech I announced a scheme of accelerated capital allowances entitled "Incentives for certain aviation services facilities". This was provided for in section 31 of Finance Act 2013. This scheme provides accelerated capital allowances for the construction and refurbishment of certain...

Written Answers — Department of Finance: Living City Initiative (23 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 81 and 83 together. The living city Initiative was announced as part of Finance Bill 2013. I stated at the time that the proposed scheme would be subject to a full ex-ante cost benefit analysis and would require State aid approval from the European Commission. The cost benefit analysis was recently presented to my Department and has been published on the...

Written Answers — Department of Finance: Tax Reliefs Eligibility (23 Oct 2013)

Michael Noonan: Relief in respect of health expenses is allowed in accordance with the provisions of section 469 of the Taxes Consolidation Act 1997. In order to qualify for relief an individual must show that he or she has incurred “health expenses” for the provision of "health care". It is not the case that all expenses incurred on health care qualify for relief. For the purposes of...

Written Answers — Department of Finance: Banking Sector Issues (23 Oct 2013)

Michael Noonan: The reports of Governor Patrick Honohan, Messrs. Regling and Watson and the Nyberg Commission pointed out the problems to be addressed in our system of financial regulation. Acting on the recommendations contained in those reports, this Government has undertaken a number of significant reforms towards building a strengthened regulatory framework for the financial services sector and to...

Written Answers — Department of Finance: Insurance Industry Regulation (23 Oct 2013)

Michael Noonan: At the outset it should be noted that governance procedures within firms are of vital importance in managing insurance companies and protecting the Irish consumer. In this regard, the Acquisitions Directive (transposed into Irish law in June 2009); the Central Bank's Corporate Governance Code and the recently introduced Fitness and Probity regime act as important safeguards in that matter....

Written Answers — Department of Finance: Tax Residency Issues (23 Oct 2013)

Michael Noonan: The taxation of individuals in the State is broadly in line with that prevailing in most other OECD jurisdictions, that is to say -- (a) Individuals who are resident in the State for tax purposes (based on the number of days of presence in the State) are taxable here on their worldwide income; and (b) Individuals who are not resident here for tax purposes pay tax here only on income...

Written Answers — Department of Finance: Home Renovation Incentive (23 Oct 2013)

Michael Noonan: As the Deputy is aware, I announced the Home Renovation Incentive in the recent Budget. This scheme will run from 1 January 2014 to 31 December 2015 and provides for tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. Qualifying expenditure is expenditure subject...

Written Answers — Department of Finance: Departmental Meetings (23 Oct 2013)

Michael Noonan: Since the formation of this Government, there have been no meetings between me or my advisors and the company referred to in the question. The Secretary General of my Department met with the Irish Managing Director of the company referred to on February 27th 2012 to discuss the broad technology sector and how best to use IT in running an organisation. As a result of that discussion, it was...

Written Answers — Department of Finance: Tax Residency Issues (23 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that there is no requirement in Irish tax law for a company to claim or obtain authorisation of non-resident status from Revenue and that statistics on the number of Irish registered non-resident companies are not separately compiled. Accordingly, it is not possible to identify from Revenue records the number of Irish registered non-resident...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (23 Oct 2013)

Michael Noonan: As was highlighted in the Action Plan for Jobs 2013, accessing working capital to avail of increased export opportunities through the provision of a broader suite of financial products is an issue for growing Irish enterprises. For this reason one of the SME State Bodies Group's policy commitments under this plan was to review the availability of appropriate finance for international trade....

Written Answers — Department of Finance: Small and Medium Enterprises Supports (23 Oct 2013)

Michael Noonan: I am acutely aware of the importance of ensuring an adequate flow of credit to SMEs, both for working capital and investment purposes. One of the commitments contained in the Action Plan for Jobs 2013 was for the SME State Bodies Group to "examine the practical steps that can be taken in the short and medium term by the State to improve the financial literacy of our micro and small...

Written Answers — Department of Finance: Budget 2014 (23 Oct 2013)

Michael Noonan: For 2013, employment growth of 1.6 per cent is projected. This takes into account outturn data for the first half of the year, which show average annual employment growth of 1.5 per cent. This growth is in both full-time and part-time employment and was broad-based across the majority of sectors in the economy. In addition, high frequency data, such as the Liver Register and survey data,...

Written Answers — Department of Finance: Pensions Levy Yield (23 Oct 2013)

Michael Noonan: I announced in my Budget speech last week 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...

Written Answers — Department of Finance: Property Taxation Administration (23 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the introduction of Local Property Tax (LPT), which was the largest extension of the self-assessment system in its history, has been a major administrative challenge. On response times, Revenue strives to respond to all correspondence and contacts within its customer service standards, i.e., 30 days. However, as LPT is a new tax it was...

Written Answers — Department of Finance: Illicit Trade in Tobacco (22 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 124 to 127, inclusive, together. I am advised by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and for tackling the smuggling and sale of illicit tobacco products, that they view this criminal activity as a very serious matter, and that combating the illegal tobacco trade is, and will continue to be, a high priority...

Written Answers — Department of Finance: Health Insurance Prices (22 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 128 and 167 together. The position is that from 16 October 2013, tax relief for medical insurance premiums will be restricted to the first €1,000 per adult and the first €500 per child insured. Any portion of premium paid in excess of these ceiling will no longer qualify for tax relief. The new ceilings will ensure continuing support via the...

Written Answers — Department of Finance: Defined Benefit Pension Schemes (22 Oct 2013)

Michael Noonan: The revenues arising to the Exchequer from the stamp duty levy on pension fund assets are, in common with Exchequer revenues generally, not hypothecated to any particular item of expenditure or liability but have been used to help fund the various measures introduced by the Jobs Initiative. One of the very significant and successful measures introduced by the Jobs Initiative - the reduced VAT...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (22 Oct 2013)

Michael Noonan: I am advised that the contractual terms and conditions of customer mortgages and other borrowings will not change as a result of the appointment of the Special Liquidators or the ultimate sale of the obligations to a third party. The continued applicability of the Central Bank Code of Conduct on Mortgage Arrears and Mortgage Arrears Targets Programme will depend on the regulatory status of...

Written Answers — Department of Finance: Property Taxation Administration (22 Oct 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered and how a residential property is to be valued for Local Property Tax (LPT) purposes. As I told the House in my reply to the Deputy's Question No. 77 (44072/13) on 17 October 2013, Local Property Tax (LPT) is a self-assessed tax so it is a matter for the property owner to calculate the tax due...

Written Answers — Department of Finance: Budget Submissions (22 Oct 2013)

Michael Noonan: I can confirm that the Pre-Budget Submission to which the Deputy refers was received by my Department on 14 October 2013 and I would note that to date we have received in excess of 600 submissions in the context of Budget 2014. However the issues which the Deputy raises relate to expenditure policy and as such are primarily matters for some of my Ministerial colleagues rather than for me as...