Results 14,781-14,800 of 27,019 for speaker:Michael Noonan

Topical Issue Debate: Credit Unions Issues (18 Sep 2013)

Michael Noonan: I thank the three Deputies from Kildare for raising this issue. I am particularly grateful to Deputy Martin Heydon for keeping me informed throughout the holiday period of the strength of feeling locally. Several Deputies, including the three who spoke today, have in recent months raised issues of concern to the members of Newbridge credit union. My objective is to ensure members' savings...

Written Answers — Department of Finance: IBRC Bond Issues (18 Sep 2013)

Michael Noonan: I am advised that development bonds previously entered into by IBRC in favour of the various County Councils or local authorities remain in place unless expired. I have been advised by the Special Liquidators that in relation to any bonds/guarantees/indemnities entered into by IBRC in favour of the various County Councils, it is likely that any liabilities arising under the those...

Written Answers — Department of Finance: Tax Reliefs Eligibility (18 Sep 2013)

Michael Noonan: I propose to take Questions Nos. 133 and 158 together. Section 469 of the Taxes Consolidation Act 1997 consolidated all previous legislation pertaining to relief for health expenses, in particular section 12 of Finance Act 1967 which introduced the relief in the first instance. That section also required that physiotherapy or similar treatment be prescribed by a practitioner before...

Written Answers — Department of Finance: VAT Rates Application (18 Sep 2013)

Michael Noonan: 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: Financial Services Ombudsman Issues (18 Sep 2013)

Michael Noonan: Statutory Instrument No 321 of 2013 commencing section 72 of the Central Bank (Supervision and Enforcement) Act 2013 was signed on 27 August 2013. The section came into effect on 1st September 2013. The Financial Services Ombudsman now has the power to name financial service providers which have at least three complaints against them substantiated or partly substantiated. This additional...

Written Answers — Department of Finance: Universal Social Charge Payments (18 Sep 2013)

Michael Noonan: The position is that the Universal Social Charge (USC) is a charge on the gross income of individuals if their gross income exceeds the USC threshold of €10,036 per annum. I assume that the Deputy is referring to the circumstances applicable to an individual who is a director of his or her own company. Such an individual is subject to tax under Schedule E on his or her salary from...

Written Answers — Department of Finance: Universal Social Charge Payments (18 Sep 2013)

Michael Noonan: The Universal Social Charge (USC) is a charge on the gross income of individuals if their gross income exceeds the USC threshold of €10,036 per annum. It applies to gross income before deduction for the various tax incentives or reliefs such as pension contributions. In addition, it also applies to income sources that are exempt from income tax such as income of certain artists or...

Written Answers — Department of Finance: Tax Code (18 Sep 2013)

Michael Noonan: On the question of earmarking revenue for specific purposes, as a matter of principle, I am opposed to the hypothecation of taxes as it reduces the flexibility of Government to prioritise and allocate funds as deemed necessary at a particular time. It is, however, important to note that to date there are no specific taxes on high fat or sugar products. With regard to diverting tax raised on...

Written Answers — Department of Finance: Property Taxation Collection (18 Sep 2013)

Michael Noonan: I propose to take Questions Nos. 139, 143 and 144 together. I am advised by the Revenue Commissioners that compliance data in relation to Local Property Tax (LPT) are only available broken down by city and county councils nationally, not by individual towns or by numbers of residents, and the most up to date figures available are published on the Commissioners website at:...

Written Answers — Department of Finance: EU Funding (18 Sep 2013)

Michael Noonan: To date this year, the EIB Board of Directors has approved three loans for Irish projects. These include a €100 million loan to the Exchequer for the construction, extension and refurbishment of public school buildings on a nationwide basis; a €100 million loan for the University of Limerick for, inter alia, the construction of new medical, pharmaceutical and engineering...

Written Answers — Department of Finance: Vehicle Registration Issues (18 Sep 2013)

Michael Noonan: I am informed by the Revenue Commissioners that Statutory Instrument (S.I.) No. 318 of 1992, Vehicle Registration and Taxation Regulations (as amended by Statutory Instrument No. 542 of 2012) prescribes the format, lettering, dimensions and technical specifications of registration plates to be displayed on vehicles in the State. Font styles not conforming to the style displayed on the...

Written Answers — Department of Finance: VAT Rates Application (18 Sep 2013)

Michael Noonan: 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. I would draw to the Deputy’s attention that in the case where VAT is applied to the charge for water supplied to VAT registered businesses, those businesses would be...

Written Answers — Department of Finance: VAT Rates Application (18 Sep 2013)

Michael Noonan: I propose to take Questions Nos. 145, 165, 166, 194, 208 and 226 together. 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...

Written Answers — Department of Finance: Vehicle Registration Issues (18 Sep 2013)

Michael Noonan: Motor Homes or Motor Caravans have been liable to VRT since its introduction and were previously classified for VRT purposes as Category A, Category B or Category C vehicles, depending on the weight of the vehicle, and liable to VRT at the rate appropriate to their classification. Since 2011, however, following the adoption of a revised EU vehicle classification system for VRT Motor Caravans...

Written Answers — Department of Finance: VAT Exemptions (18 Sep 2013)

Michael Noonan: In relation to the taxation of the aviation leasing industry, I am informed by the Revenue Commissioners that the following treatment applies: Corporation Tax A company carrying on a trade of aircraft leasing would, similarly to any other company carrying on a trade, be charged to corporation tax in respect of its trading income at a rate of 12.5%. When computing its profits for an...

Written Answers — Department of Finance: Pensions Levy Issues (18 Sep 2013)

Michael Noonan: Pension Related Deduction (PRD) is not a tax. It is a deduction from the remuneration of public servants who are members of a public service pension scheme or who have an analogous arrangement. The implementation of the deduction would not be a matter for my Department or the Revenue Commissioners, but rather for the employer of the individual concerned. It is not however possible in the...

Written Answers — Department of Finance: European Banking Union (18 Sep 2013)

Michael Noonan: In May 2012 the Commission called for a banking union to restore confidence in banks and in the euro. This was reflected in the report on Economic and Monetary Union prepared by the Presidents of the European Council, the Commission, the Eurogroup and the European Central Bank. A complete banking union requires common supervision, deposit insurance, a common resolution framework and a...

Written Answers — Department of Finance: Prize Bonds (18 Sep 2013)

Michael Noonan: European legislation has been adopted to protect the financial system and certain professions and activities from being misused for money laundering and financing of terrorism purposes. The anti-money-laundering obligations applicable in Ireland derive from the Third EU Money-Laundering Directive. The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 was enacted in July...

Written Answers — Department of Finance: VAT Rates Application (18 Sep 2013)

Michael Noonan: With regard to the VAT rate applicable to supplies of coal, any change in VAT rates must be in compliance with EU VAT law, with which Irish VAT law must comply. The EU VAT Directive provides that coal, in general, should apply at the standard VAT rate of a Member State, which in Ireland is 23%. However, the VAT Directive has a number of derogating provisions whereby Member States may...

Written Answers — Department of Finance: State Banking Sector (18 Sep 2013)

Michael Noonan: As stated in the published financial statements of Bank of Ireland as at 30 June, 2013 (page 96), the State holds 15.13% of the Ordinary Stock of Bank of Ireland. There has been no change to the State’s holding of the ordinary stock in Bank of Ireland since the recapitalisation of the bank and the associated disposal to a consortium of investors, in 2011. As of September 9th 2013, the...