Results 14,621-14,640 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Collection Forecasts (2 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 107 to 112, inclusive, together. At the outset, it is important to note that the maximum annual amount of tax-relieved pension contributions that an individual can contribute to their pension arrangements is restricted to an age-related percentage limit of remuneration and is further subject to an overall earnings cap, which currently stands at...

Written Answers — Department of Finance: Tax Collection Forecasts (2 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 113 to 123, inclusive, together. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2013 incomes, of abolishing the main personal tax credits for income earners earning over €100,000 would be of the order of €320 million. The estimated full year yield to the Exchequer,...

Written Answers — Department of Finance: Tax Collection Forecasts (2 Oct 2013)

Michael Noonan: Section 473 of the Taxes Consolidation Act 1997 provides tax relief at the standard rate to individuals who pay for private rented accommodation that is used as their sole or main residence. The level of rent qualifying for rent relief depends on an individual’s marital status and age. In Budget 2011, it was announced that rent relief was being withdrawn on a phased basis. No new...

Written Answers — Department of Finance: Tax Collection Forecasts (2 Oct 2013)

Michael Noonan: I assume the Deputy is referring to the proposal to introduce a price cap on the pre-tax price of tobacco as proposed by the Irish Cancer Society and the Irish Heart Foundation in their pre-Budget submission. Preliminary advice on this suggests that any proposal to interfere with the ability of manufacturers to set the maximum price level for tobacco is a breach of Council Directive...

Written Answers — Department of Finance: VAT Rate Reductions (2 Oct 2013)

Michael Noonan: The 9% reduced VAT rate for tourism related services was introduced in July 2011 as part of the Government Jobs Initiative. The measure was designed to boost tourism and create additional jobs in that sector. In line with best international practice it was introduced as a temporary measure and is due to expire at end December 2013, at which point it will revert to 13.5%. Retaining the 9% rate...

Written Answers — Department of Finance: Tax Collection Forecasts (2 Oct 2013)

Michael Noonan: Based on a yield in 2012 of €27 million under the current betting duty regime, an increase in betting duty as set out by the Deputy would yield €33 million and €40 million respectively. With regard to the extension of betting duty to online bets, it was announced in Budget 2011 that the necessary arrangements are being made to ensure that bets placed on the internet by...

Written Answers — Department of Finance: Social Insurance Rates (2 Oct 2013)

Michael Noonan: It is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Budget 2014 Issues (2 Oct 2013)

Michael Noonan: The budgetary and economic forecasts which will underpin the Budget are still a work in progress. I will not speculate on those figures at this stage. Budgetary forecasts will incorporate the impacts of the recently published Q2 Quarterly National Accounts and the September Exchequer returns. I would say to the Deputy that his nominal GDP forecast of €174.0bn and headline general...

Written Answers — Department of Finance: Consultancy Contracts Expenditure (2 Oct 2013)

Michael Noonan: Where requested by Government, NewERA (a business unit in the National Treasury Management Agency (NTMA) is carrying out advisory and oversight roles in relation to the possible restructuring or disposal of commercial State company assets. NewERA’s role in these disposal processes is to assist and advise the relevant Government Departments in representing the Government’s...

Written Answers — Department of Finance: European Council Meetings (2 Oct 2013)

Michael Noonan: The Taoiseach will represent Ireland at the European Council on 24/25 October 2013. The Council agenda includes the following subjects: digital economy, innovation and services; growth, competitiveness and jobs; and the economic and monetary union. These issues are of great importance to Ireland’s and Europe’s future growth prospects. While I will not be attending the...

Written Answers — Department of Finance: EU-IMF Programme of Support Issues (2 Oct 2013)

Michael Noonan: I interact on a continuous basis with all of my EU counterparts, in particular at the monthly Ecofin meetings, including with the German Finance Minister Wolfgang Schauble. The most recent comments by Chancellor Merkel acknowledge the successful reforms taken by Ireland under the EU/IMF economic adjustment programme. These reforms have been taken to benefit the Irish economy and have put...

Written Answers — Department of Finance: European Financial Stability Facility (2 Oct 2013)

Michael Noonan: I have not had any discussions with Chancellor Merkel since her recent re-election. However, as the Deputy will be aware, the Euro-Area Heads of State or Government agreed on 29th June 2012 to break the vicious circle between banks and sovereigns, and that when a Single Supervisory Mechanism is in place involving the ECB, the ESM could recapitalize banks directly. The Euro-Area Heads of...

Written Answers — Department of Finance: International Tax Issues (2 Oct 2013)

Michael Noonan: The Commission has not sought information on the so-called 'Double Irish' structure as part of its current review of corporate tax ruling procedures in various EU Member States. The Commission review is looking at practice in relation to the provision of advance tax rulings or opinions. The 'Double Irish' two-tier structure is an international tax-planning arrangement which has been...

Written Answers — Department of Finance: Corporation Tax (2 Oct 2013)

Michael Noonan: The Taoiseach, myself and other members of the Government have repeatedly expressed the Government's commitment to the retention of the 12.5% rate and I do not foresee any concerns in this regard.

Written Answers — Department of Finance: Budget 2014 Issues (2 Oct 2013)

Michael Noonan: Budget 2014 is the culmination of a year long budgetary process. The development of the Budget consists of many important elements, including the publication of the Stability Programme Update and subsequent debate. Regarding the Budget, meetings take place throughout the year between my officials and officials of other organizations, such as the NTMA, the Revenue Commissioners and other...

Written Answers — Department of Finance: Fuel Smuggling (2 Oct 2013)

Michael Noonan: I am informed by the Revenue Commissioners that they are very conscious of the threat that illicit fuel smuggling poses to the Exchequer and to legitimate business and they have adopted a comprehensive strategy to tackle the problem. This strategy includes the following elements: - The licensing regime for auto fuel traders was strengthened with effect from September 2011 to limit the...

Written Answers — Department of Finance: NAMA Property Sales (1 Oct 2013)

Michael Noonan: I have not publicly requested that NAMA defer this property sale; the property in question has been for sale on the open market for some time, which allowed any interested buyer to make their interest known to NAMA. This property was sold at auction on the 27th of September. As the Deputy will be aware that given the independence afforded to NAMA by the NAMA Act, and having established...

Written Answers — Department of Finance: Tax Reliefs Availability (1 Oct 2013)

Michael Noonan: Based on the information supplied I understand the Deputy’s question to refer to the tax treatment of any Financial Contribution made in respect of an individual under the Nursing Home Support Scheme Act 2009. Section 469 of the Taxes Consolidation Act 1997 provides for tax relief in respect of health expenses in the provision of health care incurred by an individual or an...

Written Answers — Department of Finance: VAT Rate Application (1 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 183 and 213 together. At present, work is underway on the overall structure of Irish Water, its financial model and the treatment of its function for taxation. The outcome of this work will determine the VAT treatment of water charges.

Written Answers — Department of Finance: VAT Rebates (1 Oct 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that a VAT Refund has been approved and will issue to the person concerned shortly. I have noted with interest Oxfam's very informative Issue Briefing, 'Growing Disruption: Climate Change, Food and the Fight against Hunger'. Ireland's new policy for international development, 'One World, One Future' , recognises the inextricable link between...