Results 15,721-15,740 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (30 May 2013)

Michael Noonan: Section 12 of Finance Act 2012 provides a deduction from income for income tax purposes for employees who travel abroad to certain countries as part of the duties of their employment. A deduction from salary of up to a maximum of €35,000 will be granted for employees travelling to the so-called BRICS countries, namely Brazil, Russia, India, China and South Africa as part of the duties...

Written Answers — Department of Finance: Tax Reliefs Application (30 May 2013)

Michael Noonan: In my 2013 Budget speech, I indicated that the necessary arrangements to give effect to the Programme for Government commitment to effectively cap taxpayers’ subsidies for pension schemes that deliver income of more than €60,000 would be put in place next year. A cross-Departmental Working Group of officials has been established to examine, among other things, the changes...

Written Answers — Department of Finance: Corporation Tax (30 May 2013)

Michael Noonan: I would remind the Deputy that owing to taxpayer confidentiality I am only able to speak in general terms about this issue and matters that are already in the public domain. As the Taoiseach, the Tánaiste, numerous other Ministers, and I have explained already, there is no special tax rate deal done with any company in Ireland. All companies in Ireland pay the standard 12.5% rate on...

Confidence in the Minister for Justice and Equality: Motion (Resumed) [Private Members] (29 May 2013)

Michael Noonan: I wish to share time with Ministers, Deputies Ruairí Quinn and Frances Fitzgerald, Ministers of State, Deputies Paul Kehoe, Brian Hayes and Fergus O'Dowd, and Deputies Olivia Mitchell, Marcella Corcoran Kennedy, Michael McNamara, Dara Murphy, Tony McLoughlin, Heather Humphreys, Simon Harris and David Stanton. This is a pointless debate. A venial sin has been turned into a hanging...

Written Answers — Department of Finance: Gross National Product Forecast (29 May 2013)

Michael Noonan: The Department’s latest forecast for gross national product (GNP) at current market prices, are set out below. These are consistent with the GNP forecasts of April 30 as set out in the Ireland Stability Programme - April 2013 Update. - 2012* 2013 2014 2015 2016 Nearest €25m Nominal GNP 133,400 136,275 140,550 145,225 150,300 *Outturn Recent research by the...

Written Answers — Department of Finance: Gross National Income Forecast (29 May 2013)

Michael Noonan: Gross National Income (GNI) figures for Ireland are prepared by the CSO as part of the national accounts. These figures are published annually in the National Income and Expenditure accounts, with the latest available final figures to 2011. The re-domiciled public limited companies (PLCs) are resident in Ireland and must be incorporated into our National statistics. In accordance with the...

Written Answers — Department of Finance: Property Taxation Collection (29 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that since July 2011 paper receipts no longer issue in respect of tax payments generally. This decision was taken on the basis that the vast majority of taxpayers conduct business with Revenue via its online service, or via their employer, if they pay income tax under PAYE. These services facilitate direct access to payment information and therefore...

Written Answers — Department of Finance: Tobacco Industry Lobbying (29 May 2013)

Michael Noonan: I met with representatives of the Irish Tobacco Manufacturers Advisory Committee (ITMAC) in 2013. This meeting was attended by the Taoiseach and the Minister for Justice and Equality on matters concerning the revision to the EU Tobacco Products Directive as well as tobacco smuggling and the illicit tobacco market. I was accompanied at the meeting by one of my advisors.

Written Answers — Department of Finance: Vehicle Registration Issues (29 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No. 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (as amended) provide for permanent relief from the payment of specified maximum amounts of VAT and VRT for persons registered under the scheme. This scheme is administered by...

Written Answers — Department of Finance: Non-Resident Companies (29 May 2013)

Michael Noonan: I propose to take Questions Nos. 75 to 77, inclusive, together. Each year, as part of the Budget and Finance Bill process, papers are prepared by my Department for consideration by the Tax Strategy Group which is a group of senior officials from a number of Government Departments. These annual Tax Strategy Group (TSG) papers are then published on the Department of Finance website when the...

Written Answers — Department of Finance: Tax Avoidance Issues (29 May 2013)

Michael Noonan: I propose to take Questions Nos. 78 and 81 together. In recognition of the fact that groups of companies generally comprise a single economic entity, the Taxes Consolidation Act 1997 provides that trading losses of a group company in an accounting period may be surrendered and offset against the profits of another group company in the corresponding accounting period. To qualify for the...

Written Answers — Department of Finance: Tax Data (29 May 2013)

Michael Noonan: I am informed by the Revenue Commissioners that as multinational companies on tax records are not specifically distinguished from other companies there is no precise basis on which the taxes paid by multinational companies can be separately ascertained. Where necessary, it is possible for Revenue’s Large Cases Division (which manages the tax affairs of most multinational companies) to...

Written Answers — Department of Finance: Tax Yield (29 May 2013)

Michael Noonan: Section 129 of the Taxes Consolidation Act 1997 provides that corporation tax is not charged on dividends received by an Irish resident company from another Irish resident company. The reason for this is that such dividends are paid out of profits of the paying company which have already been subject to corporation tax and to apply a corporation tax charge on the company receiving the...

Written Answers — Department of Finance: Tax Yield (29 May 2013)

Michael Noonan: Gains and losses arising from disposals of certain shareholdings are disregarded for tax purposes, provided that the conditions applying to the relief are fully satisfied. The exemption was introduced in 2004, and is contained in S626B TCA 1997. The purpose of its introduction was to encourage the establishment of regional headquarters and holding companies in Ireland. Most other EU Member...

Written Answers — Department of Finance: Tax Credits (29 May 2013)

Michael Noonan: I assume the Deputy is referring to the comprehensive review of the R&D Tax Credit which was announced in Budget 2013. The terms of reference of the Review have been published on the Department’s website. One of the central purposes of this review is to ensure that the R&D tax credit gives value for money to the Irish taxpayer and accordingly a cost benefit analysis will be...

Written Answers — Department of Finance: Departmental Staff Retirements (29 May 2013)

Michael Noonan: No officials from my Department have moved into jobs in the financial sector. I understand that three members of my Department’s Shareholder Management Unit, seconded to my Department from the NTMA, who resigned from the NTMA subsequently took up employment in the financial sector.

Written Answers — Department of Finance: NAMA Loan Write-Downs (29 May 2013)

Michael Noonan: I propose to take Questions Nos. 85 and 86 together. I am advised that NAMA acquired loans which had been advanced to over 5,000 debtor entities by the five participating institutions. NAMA advises that the average discount across the portfolio of acquired loans was 57%. The discount varied on a loan by loan basis depending on the quality and location of the underlying security....

Written Answers — Department of Finance: Illicit Trade in Tobacco (29 May 2013)

Michael Noonan: I propose to take Questions Nos. 87 and 88 together. I am informed by the Revenue Commissioners, who are responsible for the collection of taxes and duties and for tackling the smuggling of dutiable and prohibited goods, that they regard the prevention of smuggling, including the smuggling of illicit tobacco products, as a high priority area. The use of enforcement equipment such as mobile...

Written Answers — Department of Finance: European Council Meetings (29 May 2013)

Michael Noonan: Ecofin usually meets monthly, although it can meet more frequently, if required. During Ireland’s Presidency of the Council of the EU in the first half of 2013, as President of Ecofin, I have chaired four formal meetings and one informal meeting of the Ecofin Council. Mr Brian Hayes TD, Minister of State at the Department of Finance, has represented Ireland at these meetings and will...

Confidence in the Minister for Justice and Equality: Motion [Private Members] (28 May 2013)

Michael Noonan: Deputy Mattie McGrath has no problem exhaling.