Results 16,681-16,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Rebates (24 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the taxpayer has been issued with a form P50 to enable him to claim any Universal Social Charge that may have been over deducted. From Revenue records, it does not appear that the taxpayer is due any tax refund, but he may of course contact the Region at 1890 22 24 25 if he has reason to believe otherwise.

Written Answers — Department of Finance: Tax Code (24 Apr 2013)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. While the EU VAT Directive and Irish VAT law provide for the possibility of applying a reduced of VAT to the supply of certain medical equipment this possibility does not extend to the supply of personal alarms. Nor is there any provision in VAT law that would make it...

Written Answers — Department of Finance: NAMA Portfolio Issues (24 Apr 2013)

Michael Noonan: I am advised by NAMA that its role is that of a secured lender and that properties continue to be managed by debtors or, in the case of enforcement, by the appointed receivers/administrators. NAMA does, however, take a close interest in the efficient management and sale of properties with a view to maximising loan repayment for the ultimate benefit of the taxpayer. As stated in the answer...

Written Answers — Department of Finance: Banking Sector Issues (24 Apr 2013)

Michael Noonan: I have been informed by AIB that for commercial confidentiality reasons AIB does not publicly disclose the details of contracts with individual external service providers. However, the bank can confirm that for the purpose of asset valuation, separate advisors were used by AIB and the Trustees of the AIB Pension Fund.

Written Answers — Department of Finance: NAMA Legal Fees (24 Apr 2013)

Michael Noonan: I am advised by NAMA that ICSA Software International provide software which is used by the legal division to managing compliance obligations of the various NAMA's SPV's.

Written Answers — Department of Finance: Tax Code (24 Apr 2013)

Michael Noonan: It is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. In line with this principle, the majority of social welfare payments are reckonable as income for tax purposes. These include long-term payments such as Disablement Benefit, the State Pension, Widows, Invalidity and Blind Pensions, Carers Allowance and the One Parent Family...

Written Answers — Department of Finance: Tax Collection (24 Apr 2013)

Michael Noonan: The proposal put forward is that the contributory State pension should be taxed at source by the Department of Social Protection (DSP), and I am advised by the Revenue Commissioners that they agree with the proposal. Furthermore, it was recommended in the Report of the Commission on Taxation in 2009. The current situation is that a pensioner is liable to pay tax through the Income Tax...

Written Answers — Department of Finance: Tax Yield (24 Apr 2013)

Michael Noonan: The outturn yields from capital taxes (Capital Acquisitions Tax and Capital Gains Tax) in 2011 and 2012 as compared to the estimated yields for those years at Budget time are set out in the tables below. Capital Acquisitions Tax - Budget estimate €m Outturn €m Deviation €m 2011 250 244 -6 2012 295 283 -12 Capital Gains Tax - Budget estimate...

Written Answers — Department of Finance: Tax Reliefs Cost (24 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the estimated cost to the Exchequer of all “legacy” property-related tax schemes in 2010, the latest year for which this information is available, was €327 million. It should be noted that any corresponding data returned by PAYE taxpayers in the income tax return (Form 12) is not captured in the Revenue computer system....

Written Answers — Department of Finance: Tax Reliefs Cost (24 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the information required by the Deputy is as follows: S481 Film Tax Relief Tax Year Tax Cost Number of Investors Euro m 2002 21.65 2,235 2003 24.60 2,408 2004 19.5 1,888 2005 15.7 1,518 2006 36.4 3,464 2007 31.1 3,049 2008 32.8 3,200 2009 42.0 2,553 2010 65.3 3,877 2011 45.7 2,669 2012 58.3*...

Written Answers — Department of Finance: Bank Guarantee Scheme Bond Repayments (24 Apr 2013)

Michael Noonan: The Department of Finance does not collect information in the detail asked in this question. Furthermore, some of the information could not be collated due to data protection and commercial confidentiality requirements. However, I will collate as much information on these issues as possible under these headings and respond directly to the Deputy.

Written Answers — Department of Finance: IBRC Liquidation (24 Apr 2013)

Michael Noonan: To be clear, NAMA issued Senior Bonds totalling €12.928 billion to purchase the CBI’s remaining lending to IBRC under the Facility Deed. That lending is backed by a floating charge on the otherwise unencumbered assets of IBRC and supported by a Ministerial guarantee. This ended the CBI’s lending relationship with IBRC and NAMA became the largest creditor to the...

Written Answers — Department of Finance: IBRC Liquidation (24 Apr 2013)

Michael Noonan: The latest balance sheet of IBRC can be found in the Bank’s last published Annual Report & Accounts as at 31 December 2011 and the 2012 Interim Accounts. The Special Liquidators are not in a position to provide any additional confidential commercially sensitive financial information as this could potentially have a detrimental impact on asset recovery.

Written Answers — Department of Finance: IBRC Liquidation (24 Apr 2013)

Michael Noonan: As part of the role of the liquidators, the assets of IBRC will be valued independently before being sold. Any assets not sold to third parties (including loan counterparties and other financial institutions) at or above the valuation price will be sold to NAMA at the independent valuation. To be clear, NAMA issued Senior Bonds totalling €12.928bn to purchase the CBI’s...

Written Answers — Department of Finance: IBRC Liquidation (24 Apr 2013)

Michael Noonan: I have been advised by the Special Liquidators that the debt purchased by NAMA from the Central Bank is a claim debt secured by a floating charge over the assets of IBRC. The sales proceeds received through the sale of the Company’s assets will be used to repay the creditors of the Company subject to the normal legal priorities, as set out in the Companies Act’s. Once the costs...

Written Answers — Department of Finance: IBRC Liquidation (24 Apr 2013)

Michael Noonan: I have been advised by the Special Liquidators that the total value of the 23 individual Irish pension fund accounts placed on deposit with Irish Bank Resolution Corporation at the time of liquidation was €1m. I am advised that this excludes any funds placed on deposit with the Bank in client accounts opened on behalf of beneficiaries, where these beneficiaries are Irish pension...

Written Answers — Department of Finance: IBRC Liquidation (24 Apr 2013)

Michael Noonan: I have been advised by the Special Liquidators that the €1m specified previously is the sum total of the 23 individual pension fund accounts.

Written Answers — Department of Finance: Tax Forms (24 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that, according to their records, the Form HPL1 submitted on behalf of the taxpayer and spouse was completed and returned on the 5th March. A further Form HPL1 received from the taxpayer on the 5th April has today been completed and returned to him.

Written Answers — Department of Finance: Property Taxation Application (24 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the PPSN provided by the Deputy does not refer to the person in question. Revenue would like to make direct contact with the person to assist him in meeting his Local Property Tax (LPT) obligations. If the Deputy makes direct contact with Ms. Jane Scanlan at 061 488021 or jascanla@revenue.ie to confirm the person's details, Revenue will make...

Written Answers — Department of Finance: Property Taxation Application (23 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how a residential property is to be valued for Local Property Tax (LPT) purposes. The LPT is a self-assessed tax and it is incorrect to describe the general issue of LPT Returns and supporting documentation by Revenue as demands for LPT. In accordance with the legislation, it is a matter for the property owner to calculate the...