Results 14,361-14,380 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: Prior to Budget 2014 my Department received one request for costings from a political party and two from individual Deputies. Such requests are handled by my officials on a confidential basis and as such I cannot provide further details to the Deputy.

Written Answers — Department of Finance: Credit Unions Regulation (22 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 134 and 150 together. On 13 January 2012, the Central Bank of Ireland secured a High Court Order for the appointment of a Special Manager to Newbridge Credit Union. Further High Court applications were made to extend the term of appointment of the Special Manager, the latest being in June 2013, and High Court Orders were secured for a 6 month extension...

Written Answers — Department of Finance: VAT Exemptions (22 Oct 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. Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, currently 23%. There is no provision in the EU VAT Directive that would make it possible to exempt from VAT or apply a zero rate to the supply of such products. Under the VAT...

Written Answers — Department of Finance: Tax Reliefs Availability (22 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...

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

Michael Noonan: The Special Liquidators have given significant consideration to and have sought independent advice from PWC in relation to how the residential mortgage portfolio and other loans in IBRC are to be dealt with. Following that independent advice, the Special Liquidators have decided that the residential mortgage book would be split into four segments consisting of performing, non-performing,...

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

Michael Noonan: I am advised by Revenue that the vast majority of customers who opted to meet their Local Property Tax (LPT) obligations through the on-line facility and did so correctly have not received any subsequent correspondence from Revenue. However, I am informed that in a relatively small number of cases the payment transactions failed. The most common reasons for failure include: financial...

Written Answers — Department of Finance: Tax Yield (22 Oct 2013)

Michael Noonan: The Universal Social Charge (USC) is collected by the Revenue Commissioners as a component of Income Tax. In Budget 2014, it is forecast that Income Tax receipts of €17,045 million will be collected in 2014 and it is expected that the yield from the USC will account for just over €4 billion of that overall forecast. I am informed by the Revenue Commissioners, that while the...

Written Answers — Department of Finance: Tax Collection (22 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that Form IT 38 is the statutory return on which beneficiaries declare any gifts or inheritances they receive for Capital Acquisitions Tax (CAT) purposes and it is assumed that this is the tax to which the Deputy is referring. Chargeable gains for Capital Gains Tax purposes, on the other hand, may be returned on the Form CG1 or Form 11. Depending...

Written Answers — Department of Finance: Tax Agreements (22 Oct 2013)

Michael Noonan: As has been outlined to the House before by my colleagues in Government, Ireland, along with all EU partners, adheres to the "One China" policy and therefore does not have diplomatic relations with Taiwan, though this does not prevent the development of economic and trade relations. Since Taiwan is not recognised as a State by Ireland we cannot enter into a legally enforceable agreement...

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

Michael Noonan: The properties in unfinished estates which are exempt from Local Property Tax (LPT) are set out in the Finance (Local Property Tax) Regulations 2013 (S.I. 91 of 2013) made by the Minister for the Environment, Community and Local Government. I am advised by the Revenue Commissioners that the information in the regulations did not make it possible to accurately identify the relevant...

Written Answers — Department of Finance: Revenue Commissioners Resources (22 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that their enforcement and intelligence teams currently deploy 13 detector dog teams at strategic locations throughout the country. Each team comprises a detector dog and handler, and the dogs are used in the detection of drugs, tobacco and cash. While the detector dog teams are deployed primarily within their regions of assignment, they are also...

Written Answers — Department of Finance: Tax Reliefs Application (22 Oct 2013)

Michael Noonan: Changes were made to the scheme of tax relief for donations to approved bodies in Finance Act 2013 as follows: - Donations from all individual donors under the scheme are treated in the same manner, with the tax relief in all cases being repaid to the charity. - A blended rate of relief of 31% applies to all taxpayers regardless of their marginal tax rate. All donations are grossed up as...

Written Answers — Department of Finance: Pension Provisions (22 Oct 2013)

Michael Noonan: I assume that the Deputy's question relates to an individual with an Approved Minimum Retirement Fund (AMRF) who wants to have access to the fund. AMRFs are part of the Approved Retirement Fund (ARF) regime introduced in 1999. The ARF regime gives a considerable degree of control, flexibility and personal choice to individuals in Defined Contribution pension arrangements in relation to the...

Written Answers — Department of Finance: Revenue Commissioners Seizures (22 Oct 2013)

Michael Noonan: By way of general comment, Revenue's primary goal is to maximise compliance with Tax and Customs legislation and in this regard is fully focused on securing the taxes and duties due to the Exchequer on a timely basis. Notwithstanding the current difficult financial environment, Revenue expects businesses to have a clear focus on maintaining payment compliance and on meeting their obligations...

Written Answers — Department of Finance: Tax Reliefs Availability (22 Oct 2013)

Michael Noonan: An upper ceiling on the amount of medical insurance premiums that will qualify for tax relief, of €1,000 per adult and €500 per child was introduced in the Budget. The yield from this measure is estimated at €94 million in 2014 and €127 million in a full year. This information is available, along with all other Budget measures, on the website at www.budget.gov.ie.

Written Answers — Department of Finance: Tobacco Smuggling (22 Oct 2013)

Michael Noonan: 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. Accordingly, combating the illegal tobacco trade is, and will continue to be, a high priority for them. Revenue’s “Strategy on Combating the...

Written Answers — Department of Finance: EU VAT Rules (22 Oct 2013)

Michael Noonan: I am informed by the Revenue Commissioners that at present the place of supply of telecommunications services, broadcasting services or electronic services to private individuals is the place where the supplier is established. From 2015, the supply of these services to private individuals will be taxed by reference to where the customers are located. The supplier would normally be obliged...

Written Answers — Department of Finance: Living City Initiative (22 Oct 2013)

Michael Noonan: 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 Department's website. On foot of the recommendations...

Written Answers — Department of Finance: Tax Credits (22 Oct 2013)

Michael Noonan: The position is that the One-Parent Family Tax Credit is being replaced with a new Single Person Child Carer Tax Credit from 1 January 2014. The Single Person Child Carer Tax Credit will be of the same value, i.e. €1,650, as the existing One-Parent Family Tax Credit and will also carry the same entitlement to the extended standard rate tax band of €36,800 per annum. The new...

Written Answers — Department of Finance: Budget 2014 (22 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 153, 164 and 165 together. As I outlined in my Budget Day speech, in order to achieve a deficit of 4.8% of GDP, a total adjustment package of the region €3.1bn was necessary. This comprised €2.5bn in expenditure cuts and tax increases complemented with additional resources/other savings of €0.6bn. A summary table of the adjustment...