Results 15,801-15,820 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: VAT Rates Application (23 May 2013)

Michael Noonan: Any proposals to maintain the 9% rate into 2014 will be considered in the context of Budget 2014.

Written Answers — Department of Finance: Pension Provisions (23 May 2013)

Michael Noonan: I am assuming that the question is referring to a situation where an employee is making pension contributions to his or her employer sponsored occupational pension scheme and is also making contributions to a personal pension plan in respect of which the individual does not have a source of relevant earnings against which to claim relief on the contributions. I am advised by the Revenue...

Written Answers — Department of Finance: Tax Code (23 May 2013)

Michael Noonan: A couple that enters into a civil partnership under the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 is entitled to the same treatment for income tax, capital gains tax, capital acquisitions tax and stamp duty as a married couple. The relevant taxation provisions were introduced in the Finance (No. 3) Act 2011. They allow civil partners to claim the benefits...

Written Answers — Department of Finance: Fodder Crisis (23 May 2013)

Michael Noonan: In response to the Deputy’s question there are no suitable bodies under the remit of my Department who could be of assistance in alleviating the current fodder shortage affecting the farming community.

Written Answers — Department of Finance: IBRC Liquidation (23 May 2013)

Michael Noonan: I have been advised by the Special Liquidators that the valuation of IBRC's loan assets will be completed by no later than 30 November 2013 and that the sale of IBRC’s assets shall be agreed or completed by no later than 31 December 2013 or as soon as practicable thereafter. It is the view of the Special Liquidators based on the internal documentation and information within IBRC that...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (23 May 2013)

Michael Noonan: I propose to take Questions Nos. 45 and 49 together. I have been advised by the Central Bank that it is conducting an on-going investigation into the sale of Payment Protection Insurance (PPI) by firms from July 2007. In September 2012 the Central Bank broadened its investigation to include a number of other banks and credit institutions. Approximately 340,000 PPI policies were sold by...

Written Answers — Department of Finance: Corporation Tax (23 May 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the amount of corporation tax paid by the top 10 multinational companies (as measured by corporation tax paid) is per the following table. The table includes the gross amounts paid in corporation tax for each year and the net corporation tax paid for each year. The difference could be for a number of reasons e.g. if a company overestimates its...

Written Answers — Department of Finance: Corporation Tax (23 May 2013)

Michael Noonan: I propose to take Questions Nos. 47 and 50 together. I am precluded from discussing the tax affairs of any particular individual or company, but I can confirm that I have received no such representations from the UK authorities in respect of the operation of Ireland's corporation tax regime. Ireland has a positive international reputation based on transparency and co-operation, as is...

Written Answers — Department of Finance: Tax Compliance (23 May 2013)

Michael Noonan: I am informed by the Revenue Commissioners that as a result of a previous review of the taxpayer's affairs (Question No. 56 of 9 February 2012), some additional liabilities were identified. These have been partially dealt with by offsetting superannuation relief, and Revenue has been in touch with the taxpayer in relation to the balance. Revenue will now write again to the taxpayer fully...

Written Answers — Department of Finance: IBRC Liquidation (23 May 2013)

Michael Noonan: The liquidation of IBRC is progressing well and I am satisfied with the work performed by the Special Liquidators to date. Unfortunately due to commercial sensitivities and the potential detrimental impact that a disclosure of the details of work performed might have on asset recovery in the impending sales process, I cannot provide a detailed update on the work of the Special Liquidators. ...

Written Answers — Department of Finance: Departmental Legal Costs (23 May 2013)

Michael Noonan: In response to the Deputy's question my Department has developed in house legal capacity which manages a portion of the Department of Finance legal work and seeks to minimise the use of external counsel for general matters. With effect from 5 August 2011 the functions of the Banking Unit of the National Treasury Management Agency were transferred to the Department of Finance. Prior to...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2013
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (22 May 2013)

Michael Noonan: We are not quite sure. It is too early to tell. In bringing in a budget, we do the Estimate for the full year and thereafter compile monthly profiles. We are talking large numbers here. Some months are VAT months while other months are not. This means the figures are uneven across the months. A slight error on profiling might explain some of it.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2013
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (22 May 2013)

Michael Noonan: It is too early to predict that. We will see what happens over the summer. VAT is overall in line with profile, but there are different elements to that. I do not want to speculate too much about it. The difficulty in having an early budget is more to do with the income tax returns of the self-employed. They come in during November and if we have to do the budget in October, we will be...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2013
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (22 May 2013)

Michael Noonan: It is too early to say. We are only planning the profile and scheduling at this point. The Deputy is getting into the detail of a budget which will not be brought forward for months.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2013
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (22 May 2013)

Michael Noonan: The Deputy knows that some budget measures come into effect on budget night and others do not.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2013
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (22 May 2013)

Michael Noonan: I am not yet in a position to answer his question, but I will do so in due course.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2013
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (22 May 2013)

Michael Noonan: I am not saying anything of the sort. I advise the Deputy to be careful. He does not understand this and he is displaying the fact that he does not understand it. In the course of displaying the fact he does not understand it, he is making charges that could be quite damaging to the jobs of people in this country because what he is saying is in error. If I am permitted, I will explain it...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2013
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (22 May 2013)

Michael Noonan: Our tax system is very transparent. I do not wish us to have an argument about it but I will explain the 2% rate. This is international tax planning which works on the basis of people looking at two different tax jurisdictions and finding a gap in which they can take an advantage. It is not to do with the Irish tax code which is completely transparent. On profits generated in Ireland and...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2013
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (22 May 2013)

Michael Noonan: No. This is clearly wrong and misleading. It ignores and contradicts the initial premise that the companies concerned are neither tax-resident in Ireland nor in the US. Because they are not tax-resident in Ireland-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2013
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (22 May 2013)

Michael Noonan: It is not semantics. They are not liable for Irish tax. We did not control that. Our law applies to tax-resident companies at a rate of 12.5%. If one divides Apple's world-wide profits, the amounts of tax paid legitimately on its profits in Ireland is 2%, but we cannot tax its world-wide profits; we can only tax the profits which are in Ireland, which are tax-resident in Ireland. That is...