Results 14,381-14,400 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I am informed by the Revenue Commissioners that the annual increases in the retail price of the most popular price category of 20 filter tipped cigarettes since 2007, together with the requested breakdown, are shown in the table. Please note that all figures are shown in cents. - - Budget Trade Excise Excise Total Vat Total Trade - MPPC Increase Increase Specific Ad Valorem Excise...

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

Michael Noonan: I am advised by the Revenue Commissioners that under the provisions of Section 851A of the Taxes Consolidation Act 1997 they have a statutory obligation to treat all taxpayer information confidentially. Consequently, they are precluded from providing the information requested by the Deputy. However, under subsection (8)(d) of the section, Revenue may disclose taxpayer information with the...

Written Answers — Department of Finance: NAMA Portfolio Issues (22 Oct 2013)

Michael Noonan: Further to Parliamentary Question No. 137 of 8 October 2013, NAMA has informed me that the link to NAMA's enforced properties website listing is .

Written Answers — Department of Finance: NAMA Operations (22 Oct 2013)

Michael Noonan: NAMA, as with other lenders, does not procure or manage contracts for contractors, advisors and other service providers on building projects in respect of properties securing its loans. The procurement and management of such contracts is a matter for the owner of the related land or property or, if one is in place, the Receiver. NAMA requires that its debtors and receivers ensure value for...

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

Michael Noonan: I propose to take Questions Nos. 158, 161 and 162 together. They all relate to the same issue. As I announced in my Budget 2014 speech last week, the changes I am introducing to deliver on the commitment I made in Budget 2013 in the supplementary pensions area involve a reduction from 1 January 2014 in the value of the maximum allowable pension fund at retirement for tax purposes (the...

Written Answers — Department of Finance: Departmental Expenditure (22 Oct 2013)

Michael Noonan: The Department of Finance’s budget and staffing allocation reflects ongoing ambitious objectives and goals, across a broad spectrum of economic, fiscal, financial and international policies, set out in its Statement of Strategy. This is particularly important as we target an exit from the EU/IMF programme of support and the Government has recognised this in the ECF numbers and...

Written Answers — Department of Finance: VAT Rate Application (22 Oct 2013)

Michael Noonan: The 23% applies to the supply of health supplements, including protein. The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. A change in VAT rates must be in compliance with the EU VAT Directive. The VAT Directive generally provides that supplies of goods and services be chargeable to VAT at the standard rate but that lower...

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

Michael Noonan: I refer the Deputy to the answer provided to his question on 2nd October (Parliamentary Question No. 101) where I stated that taxation provisions included in the Finance Act 2013 and the Finance (Local Property Tax) Act 2012 in relation to measures set out in Budget 2013 will result in estimated carryover of around €300 million in 2014. In addition I referred to carryover from...

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

Michael Noonan: 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 tax system for those who purchase standard policies,...

Written Answers — Department of Finance: Property Taxation Collection (17 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the delay in implementing the preferred Local Property Tax (LPT) payment option in this case occurred because the person in question is not a recipient of the pension type selected on the LPT 1 Return. I understand the LPT deduction at source scheme for Department of Social Protection (DSP) pensions operates by Revenue advising DSP of the...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (17 Oct 2013)

Michael Noonan: I propose to answer questions 70 and 74 together. It is important to note that the contractual terms and conditions of customer mortgages and other borrowings have not changed as a result of the appointment of the Special Liquidators to IBRC nor will they change as a result of the ultimate sale of these obligations to a third party. The Special Liquidators have given significant...

Written Answers — Department of Finance: Government Deficit (17 Oct 2013)

Michael Noonan: The following table shows general government interest as a proportion of GDP each year since 2009 (including the projected amount for the current year and 2014). Interest as proportion of GDP - - - - - - - 2009 2010 2011 2012 2013f 2014f General government Interest (€ millions) 3,295 4,974 5,325 6,135 7,645 8,190 GDP (at current market prices) 162,284 158,097...

Written Answers — Department of Finance: Credit Unions Issues (17 Oct 2013)

Michael Noonan: The Question is referring to the proposed combination between Newbridge Credit Union and Naas Credit Union. The parties involved in this proposed combination are bound by confidentiality agreements and non-disclosure requirements which ensure that no personal data has been compromised. The Central Bank has confirmed that all parties have been and remain fully conscious of obligations...

Written Answers — Department of Finance: Tax Reliefs Eligibility (17 Oct 2013)

Michael Noonan: This PQ appears to be a follow up to PQ 32144/13 wherein we explained that a hospital had to be approved by the Minister for Finance in consultation with the Minister for Health. With regard to claims in respect of tax relief for qualifying health expenses where the relevant health care is obtained outside the State, the following is the current position: - (a) the health expenses are...

Written Answers — Department of Finance: Mortgage Debt (17 Oct 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. I have been advised by the Special Liquidators that the valuation process is on- going and...

Written Answers — Department of Finance: Promissory Note Issues (17 Oct 2013)

Michael Noonan: Prior to the promissory note restructuring I would have had to make provision for a cash payment of €3.1 billion to IBRC in 2014 consisting of €1.8 billion in interest and €1.3 billion in repayment of principal. Under the statistical rules governing the Deficit calculation only promissory note interest costs of €1.8 billion would have been recorded in 2014. The...

Written Answers — Department of Finance: Property Taxation Administration (17 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. I note that the Deputy raised a similar question in July this year. In my reply to that question (No. 65 on 17 July 2013, 35714/13) I informed the House that, as Local Property Tax (LPT) is a self-assessed...

Written Answers — Department of Finance: Tax Reliefs Application (17 Oct 2013)

Michael Noonan: I am informed by the Revenue Commissioners that, subject to certain conditions, landlords may deduct 75% of the interest on money borrowed to purchase, improve or repair residential property from the gross rent when computing their rental profits for tax purposes on that property. Interest incurred before the first occupation of the property by a tenant for the purposes of a trade or...

Written Answers — Department of Finance: Property Taxation Administration (17 Oct 2013)

Michael Noonan: I am informed by Revenue that a key aspect of the work undertaken in regard to Local Property Tax (LPT) was the development of a comprehensive register of residential properties in the State. During the development process, matching difficulties were encountered when drawing the various data sources together, and in some instances the information available was incorrect. As part of its...

Written Answers — Department of Finance: Property Taxation Administration (16 Oct 2013)

Michael Noonan: Section 157 of the Finance (Local Property Tax) Act 2012, as amended, provides that, in each financial year commencing with 2014, the Minister shall pay from the Central Fund or the growing produce thereof into the Local Government Fund an amount equivalent to the Local Property Tax, including any interest paid thereon, paid into the Central Fund during that year. Accordingly, receipts from...