Results 15,661-15,680 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Exchequer Returns (11 Jun 2013)

Michael Noonan: I am advised by Revenue that it does not maintain returns data in a format that allows specific extraction for liquidation cases. Such data would require manual extraction on a case by case basis and would be very resource intensive. Revenue does however maintain very precise data on all VAT and PRSI money that is written out as uncollectible arising from liquidations. The figures for the...

Written Answers — Department of Finance: Property Taxation Exemptions (11 Jun 2013)

Michael Noonan: For Local Property Tax (LPT) purposes a residential property is defined as any building or structure (or part of a building) which is used as, or is suitable for use as, a dwelling. If a residential property is suitable for use as a dwelling but is unoccupied, it is still liable to LPT based on the valuation of the property. However, if the property is not suitable for use as a dwelling, it...

Written Answers — Department of Finance: Property Taxation Application (11 Jun 2013)

Michael Noonan: Based on the information provided by the Deputy it is not possible to give a definitive reply. However, by way of general information, the following may be of relevance. Local Property Tax (LPT) is a self-assessed tax and is chargeable in respect of a building, or a part of a building, that is in use, or suitable for use, as a dwelling. A single building may contain several separate...

Written Answers — Department of Finance: Defined Pension Benefit Schemes Issues (11 Jun 2013)

Michael Noonan: As the Deputy will be aware the pension arrangements for the staff of Permanent TSB are a matter for the management of that company and for the trustees of the relevant pension schemes. It would not be appropriate for me to comment on the implications for an individual arising out of any proposed restructuring by Permanent TSB of its defined benefit pension schemes. I understand that a...

Written Answers — Department of Finance: Property Taxation Administration (11 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 170, 171 and 173 together. I am informed by the Revenue Commissioners that Local Property Tax (LPT) Returns, personalised letters and an LPT Guide issued earlier this year to owners of 1.69 million residential properties either by post or by way of their ROS (Revenue Online Service) inbox. I previously outlined in my response to Parliamentary Question No...

Written Answers — Department of Finance: Tax Code (11 Jun 2013)

Michael Noonan: The Non-Principal Private Residence (NPPR) Charge, which is a matter for the Minister for the Environment, Community and Local Government, is an annual charge of €200 introduced by the Local Government (Charges) Act 2009, as amended by the Local Government (Household Charge) Act 2011. It applies to a residential property which is not used as the owner’s sole or main residence,...

Written Answers — Department of Finance: Tax Yield (11 Jun 2013)

Michael Noonan: It is assumed that the threshold for the proposed new income tax rate mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. On that basis, I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2013 incomes, of the...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (11 Jun 2013)

Michael Noonan: I have been advised by the Central Bank that the investigation is on-going but that for legal reasons, including the Bank’s confidentiality obligations pursuant to section 33AK of the Central Bank Act 1942, no further details can presently be disclosed.

Written Answers — Department of Finance: Appointments to State Boards (11 Jun 2013)

Michael Noonan: I will give consideration to the mechanism for making appointments to the Council at an appropriate time in advance of the expiry of the current Council's term.

Written Answers — Department of Finance: Departmental Bodies Board Remuneration (11 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 Government at its meeting on 5 May 2009 approved a 10% reduction of fees paid to non-executive chairpersons and members of the boards of State Bodies. The Financial Services Ombudsman Council fees were...

Written Answers — Department of Finance: Tax Reliefs Application (11 Jun 2013)

Michael Noonan: Section 604B Taxes Consolidation Act 1997, introduced by Section 48 Finance Act 2013, provides for a capital gains tax relief for farm restructuring, subject to a commencement order to be made by the Minister for Finance, as EU State Aid approval is required for the relief. This approval has recently been received and the commencement order will be made shortly. The relief will apply to...

Written Answers — Department of Finance: Property Taxation Collection (11 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 179, 181 and 194 together. I am informed by the Revenue Commissioners that Local Property Tax (LPT) Returns, personalized letters and an LPT Guide issued earlier this year to owners of 1.69 million residential properties either by post or by way of their ROS (Revenue Online Service) inbox. I previously outlined in my response to Parliamentary Question No...

Written Answers — Department of Finance: Tax Residency Issues (11 Jun 2013)

Michael Noonan: In my reply to Parliamentary Questions Nos. 174,175,176 and 190 of 28th May 2013, I referred to the long-standing case law regarding the residence of companies. As a general rule, I indicated that, based on such case law, companies are resident in Ireland for tax purposes if they are managed and controlled here. Our tax legislation does not define what constitutes management and control of a...

Written Answers — Department of Finance: Tax Reliefs Application (11 Jun 2013)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 provides a scheme for tax relief on donations to eligible charities and other approved bodies. A list of the bodies that qualify for the scheme is available on Revenue's website: www.revenue.ie at the following link: http://www.revenue.ie/en/business/authorised-charities-resid ent.html. In relation to donations made prior to 1/1/2013 the...

Written Answers — Department of Finance: EU Directives (11 Jun 2013)

Michael Noonan: There are seven Directives awaiting transposition into domestic law by my Department at the current time, none of which are past their transposition deadlines. Directive 2009/138/EC has a transposition deadline of 30 June 2013. However, this Directive is the subject of an amending proposal on which negotiations are on-going. As the amending proposal has not been completed, it will not...

Written Answers — Department of Finance: Tax Yield (11 Jun 2013)

Michael Noonan: It is assumed that the Deputy is referring to the introduction of a third rate of income tax of 48%, 49% or 50% to be applied on the portion of taxable incomes in excess of €100,000 per annum. In addition, it is also assumed that the threshold for the proposed new income tax rates mentioned by the Deputy would not alter the existing standard rate band structure applying to single and...

Written Answers — Department of Finance: Departmental Staff Recruitment (11 Jun 2013)

Michael Noonan: The Top Level Appointments Committee (TLAC) recently made a recommendation to the Minister for Finance on the filling of the Chief Financial Officer. Based on the interview and documentation, the Preliminary Interview Board identified those candidates who in the Board’s judgement are suitable for appointment to the post under consideration, generally to a maximum of 5 candidates....

Written Answers — Department of Finance: Fuel Laundering (11 Jun 2013)

Michael Noonan: I am sure the Deputy will appreciate that estimating the extent of any illegal activity and the associated cost to the exchequer is inherently problematic. I am advised by the Revenue Commissioners that while there is no reliable estimate of the scale of the problem, they recognize that it represents a significant threat to the exchequer and to the legitimate trade. Revenue collects some...

Written Answers — Department of Finance: Departmental Agencies Issues (11 Jun 2013)

Michael Noonan: In response to the Deputy's Question details in respect of regulators which are accountable to my Department are as follows: Central Bank of Ireland The Central Bank of Ireland is responsible for the regulation of most financial service providers and funds in Ireland. A statutory objective set out in the Central Bank Reform Act 2010 requires the Bank to carry out '…the proper and...

Written Answers — Department of Finance: Property Taxation Application (11 Jun 2013)

Michael Noonan: The Government decided a universal liability to the LPT should apply to all owners of residential property with limited exemptions. Limiting the exemptions available allows the rate to be kept low for those liable persons who do not qualify for an exemption. There are provisions permitting deferral of the tax in certain circumstances, targeted at cases of need where there is genuine...