Results 15,541-15,560 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: IBRC Account Holders (25 Jun 2013)

Michael Noonan: I have been advised by the Special Liquidators that all Borrowers can re-finance their borrowings with other lending institutions however there will be no write down of the debt outstanding. I have been informed by the Special Liquidators that the window in which Borrowers are allowed to re-finance their loans 100% will remain open until such time as the loan is sold in the sales process.

Written Answers — Department of Finance: Universal Social Charge Yield (25 Jun 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the yields to the Exchequer, estimated by reference to 2013 incomes, of increasing the 7% rate to 8%, 9%, 10%, and 11%, as suggested by the Deputy, would be of the order of €450 million, €900 million, €1,345 million, and €1,795 million in a full year respectively. The estimated yields include corresponding rate...

Written Answers — Department of Finance: Tax Reliefs Availability (25 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 188 and 192 together. The position is, as I have stated on many occasions in the House, that this issue was raised during the debates in the Seanad on Finance Bill 2013, during which I agreed to re-examine the matter during the course of this year. My Department is currently in the process of examining the issue and when the analysis is completed and...

Written Answers — Department of Finance: VAT Rates Application (25 Jun 2013)

Michael Noonan: I am advised by the Revenue Commissioners that, as the Deputy has not identified the shopkeeper in question, they cannot respond in relation to the particular case referred to. However, they have provided the following information in regard to the matter of VAT being chargeable on the sale of Mass Cards. A trader whose business includes the sale of Mass Cards must record the sales in...

Written Answers — Department of Finance: Tax Code (25 Jun 2013)

Michael Noonan: I take it the question raised by the Deputy refers to Capital Acquisitions Tax (CAT) agricultural relief. In order to qualify for this relief an individual receiving a gift or inheritance of agricultural property must qualify as a farmer. For the purpose of the relief a farmer is an individual at least 80% of whose assets constitute agricultural property. The relief takes the form of a...

Written Answers — Department of Finance: Property Taxation Data (25 Jun 2013)

Michael Noonan: As I previously indicated to the House in my response to Parliamentary Question No. 74 of 30 May 2013 (26457/13) the Revenue Commissioners confirmed that, at the end of the extended LPT filing deadline on 29 May 2013, 1,539,822 LPT Returns had been filed. According to the Commissioners, in excess of 1.55 million returns have now been filed. Up the end of May over €121m had been...

Written Answers — Department of Finance: NAMA Loan Book (25 Jun 2013)

Michael Noonan: I refer the Deputy to pages 21-22 of NAMA’s Annual Report and Financial Statements for 2012, which contain a detailed breakdown of property, by geography and sector, securing NAMA loans as at 31 December 2012. I am advised by NAMA that a breakdown in respect of 2013 will be provided in the relevant Annual Report and Financial Statements.

Written Answers — Department of Finance: Tax Collection (25 Jun 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the criteria for entry into their Large Cases Division is applied on a group rather than a company basis. For a group to be managed in the Large Cases Division, group turnover must be in excess of €162 million or group tax payments (all taxes) must be in excess of €16 million in a year. In addition, certain sectors such as pensions...

Written Answers — Department of Finance: EU Funding (25 Jun 2013)

Michael Noonan: Data on Ireland’s EU Budget contributions are published annually by my Department in the Budget & Economic Statistics bulletin. The table below contains the most recently published data. Ireland’s contribution for 2012 will be published in my Department’s Budget and Economic Statistics bulletin for 2013, due to be published in the autumn. Year EU Budget Payment...

Written Answers — Department of Finance: Tax Code (25 Jun 2013)

Michael Noonan: I understand that the Deputy’s question relates to gift and inheritance tax regarding farms. The Capital Acquisitions Tax (CAT) code includes gift tax, inheritance tax and discretionary trust tax. The tax is charged on the amount gifted to, or inherited by, the donee (the person receiving the gift/inheritance). There is a tax-free threshold (referred to as a ‘group...

Written Answers — Department of Finance: Company Registration (25 Jun 2013)

Michael Noonan: I am informed by the Revenue Commissioners that there is no requirement in Irish tax law for a company to claim the status of Irish registered non-resident company. While there is no requirement for a company to claim Irish registered non-resident status, the Revenue Commissioners as part of their normal compliance activity in the area of corporation tax, would seek confirmation from a...

Written Answers — Department of Finance: Tax Code (25 Jun 2013)

Michael Noonan: I assume that the Deputy refers to an increase in the standard rate tax bands, which would apply similarly to single and widowed persons, as well as to lone parents. In addition, the proposed extensions to the various standard rate bands are assumed to also apply to married couples. On this basis, I am informed by the Revenue Commissioners that the full year cost to the Exchequer,...

Written Answers — Department of Finance: Financial Services Ombudsman Issues (25 Jun 2013)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions. I have no role in the day to day workings of the office. The Financial Services Ombudsman Bureau was established under the Central Bank and Financial Services Authority of Ireland Act 2004. This legislation provides the Financial Services Ombudsman with various...

Written Answers — Department of Finance: European Banking Sector (25 Jun 2013)

Michael Noonan: The European Central Bank works closely with the European Investment Bank (EIB) and with the EU Commission. The ECB is an independent body in which I have no role in relation to its internal deliberations. Regarding an ECB role in providing funding directly for small businesses, this falls in the realm of monetary policy. Monetary policy issues are discussed at the Governing Council and the...

Written Answers — Department of Finance: Tax Avoidance Issues (25 Jun 2013)

Michael Noonan: The role of the platform is as set out in recommendation 9 of the Commission's Action Plan to strengthen the fight against tax fraud and evasion which states: "The Commission plans to establish a Platform for Tax Good Governance composed of experts from Member States and stakeholders representatives to provide assistance in preparing its report on the application of the two Recommendations,...

Written Answers — Department of Finance: Topical Issue Debate (25 Jun 2013)

Michael Noonan: Eighty four topical interest debates were selected for the Department of Finance since March 2011. Of these twenty three were taken by Myself, thirty four by Minister of State Hayes and twenty seven by other Ministers/ Ministers of State .

Written Answers — Department of Finance: Betting Regulations (25 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 203 and 219 to 222, inclusive, together. The Finance Act 2011 provides for the taxation of bets that remote bookmakers enter into with persons in the State. This means, for example, that a business which engages in online bookmaking and which accepts bets from people in this country will be liable for betting duty on those bets, irrespective of where that...

Written Answers — Department of Finance: European Council Meetings (25 Jun 2013)

Michael Noonan: The Ecofin Council met on 21st June 2013 and as Ireland holds the Presidency of the Council of the EU, I as the Minister for Finance chaired the meeting. Minister of State, Brian Hayes TD represented Ireland at the meeting. The meeting was attended by representatives of all 27 EU Member States and of Croatia (which has observer status until its accession into the EU on 1st July),...

Written Answers — Department of Finance: NAMA Staff Issues (25 Jun 2013)

Michael Noonan: All NAMA staff are employees of the NTMA. The NTMA advises that six staff assigned to NAMA have left the Agency since January 2013. The NTMA understands that five of these staff have taken up employment in the private sector.

Written Answers — Department of Finance: NAMA Property Sales (25 Jun 2013)

Michael Noonan: Decisions relating to the sale of properties securing its loans are an operational matter for the board of NAMA which is guided by its commercial mandate under the NAMA Act 2009. As has been previously advised by NAMA, the agency’s strategy in relation to any individual asset and the timing of any sale is geared towards maximising the realised value of the asset and the return to...