Results 1,701-1,720 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Application (13 Dec 2016)

Michael Noonan: An individual or a couple in a marriage or civil partnership, aged 65 or over whose total income from all sources is slightly over the exemption limit may qualify for marginal relief. The current exemption limits are €18,000 for single or widowed individuals and €36,000 for a couple in a marriage or civil partnership. Marginal relief is applied if it is more...

Written Answers — Department of Finance: Property Tax Collection (13 Dec 2016)

Michael Noonan: I am advised by Revenue that the Local Property Tax (LPT) 'liability date' is set down in the Finance (Local Property Tax) Act 2012 (as amended) as 1 November in the preceding year. For example, 1 November 2016 is the 'liability date' for 2017 and the owner of a relevant residential property on that date is obliged to pay the LPT due. This remains the case even if the property is sold or...

Written Answers — Department of Finance: Tax Agreements (13 Dec 2016)

Michael Noonan: The EU Directive 2011/16/EU was transposed into Irish law by virtue of the European Union (Administrative Cooperation in the Field of Taxation) Regulations 2012.  This Directive has subsequently been amended three times to introduce greater exchange of information between tax authorities. These subsequent Directives will be fully transposed in Ireland by the end of...

Written Answers — Department of Finance: Revenue Commissioners Enforcement Activity (13 Dec 2016)

Michael Noonan: I propose to take Questions Nos. 178 and 179 together. The Deputy has referred to tax opinions, determinations and letters of comfort. I would clarify that while Revenue may issue non-binding advisory opinions in certain circumstances and may make determinations in respect of certain VAT matters, Revenue does not issue "letters of comfort".  There has been a focus on tax opinions, or...

Written Answers — Department of Finance: Employment Data (13 Dec 2016)

Michael Noonan: The Deputy will be aware that earlier this year, she as Minister for Social Protection and I as Minister for Finance launched a consultation process on the use of intermediary-type employment structures and self-employment arrangements, and their impact on tax and PRSI. The consultation invited submissions from interested parties on possible measures to address the loss to the Exchequer that...

Written Answers — Department of Finance: Common Consolidated Corporate Tax Base Negotiations (13 Dec 2016)

Michael Noonan: The European Commission's proposal for a Common Consolidated Corporate Tax Base (CCCTB) was discussed at the November ECOFIN meeting. During the discussion, which was held in public session, a number of my fellow Ministers gave some initial impressions of the proposal. At this discussion I indicated that Ireland will engage  constructively with the proposal while ensuring...

Written Answers — Department of Finance: Legislative Measures (13 Dec 2016)

Michael Noonan: The Finance Bill 2016 has been passed by Dáil Éireann and is currently being considered by the Seanad. In Section 52 of the Bill, I have provided for an amendment to section 86 of the Capital Acquisitions Tax Consolidation Act 2003, the section that provides an exemption from capital acquisitions tax on the inheritance or gift of a dwelling house in certain circumstances. I...

Written Answers — Department of Finance: Tax Code (13 Dec 2016)

Michael Noonan: Following clarification with the Deputy's Office, it is understood that his question refers to article 28(a) of Staff Regulations of Officials of the European Communities. Under article 12 of the Protocol on the Privileges and Immunities of the European Union (formerly article 13), the unemployment allowance paid to a former member of the temporary staff of the EU institutions...

Written Answers — Department of Finance: Help-To-Buy Scheme (13 Dec 2016)

Michael Noonan: I assume the Deputy is referring to the Help to Buy Incentive which is provided for in Finance Bill 2016 and is designed to assist first-time buyers with obtaining the deposit required to purchase or build their first home. The Incentive will take the form of a refund of income tax (including DIRT) paid in the State by a first-time buyer over the previous 4 tax years. Eligibility for a...

Written Answers — Department of Finance: Financial Services Regulation (13 Dec 2016)

Michael Noonan: The Deputy will be aware that this matter was discussed at the Central Bank's appearance before the Oireachtas Joint Committee on Finance, Public Expenditure and Reform and Taoiseach's meeting on Thursday 8th December. However, the Central Bank has advised that for confidentiality reasons the Central Bank of Ireland is prevented from further discussing applications for authorisation. A...

Written Answers — Department of Finance: Central Bank of Ireland Staff (13 Dec 2016)

Michael Noonan: I am informed by the Central Bank that staff numbers are expected to grow to 1,631 at end 2016, with planned expansion to 1,801 by end 2017. The 2017 expansion includes dedicated resources to address specific Brexit-related new business needs. The Bank also plans to assess on a regular basis the need for contingency-based extra Brexit-related hiring in response to additional business...

Written Answers — Department of Finance: Legislative Programme (13 Dec 2016)

Michael Noonan: One Bill has been published by my Department since May 2016. The details of that Bill are set out as follows: No. of Bill Title of Bill Stage of Bill 83 of 2016 Finance Bill 2016 Seanad Committee Stage was completed on 7 December 2016, Seanad Report Stage is scheduled for 14 December 2016. Since May 2016 one Act brought forward by my Department has been signed into law - the Finance...

Written Answers — Department of Finance: VAT Registration (13 Dec 2016)

Michael Noonan: I am advised by Revenue that VAT is governed by the EU VAT Directive (Council Directive 2006/112/EC), with which Irish VAT law must comply. The thresholds for Ireland and the UK date from accession into the EU and the Directive only provides for the raising of those thresholds by Member States to maintain their value in real terms, that is, they may only be increased in line with inflation....

Written Answers — Department of Finance: Departmental Staff Redeployment (13 Dec 2016)

Michael Noonan: I wish to inform the Deputy that my Department has not re-centralised any of the units, for which it is now responsible, following their decentralisation to Tullamore in 2006. However, in addition to units that transferred to the Department of Public Expenditure and Reform on the establishment of that Department in 2011, certain units of my Department have transferred more recently...

Written Answers — Department of Finance: Financial Services Ombudsman Data (8 Dec 2016)

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. However, the Financial Services Ombudsman has informed me that the Financial Services Ombudsman Bureau does not have a system of recording the cost of mediation separately. This is because the...

Written Answers — Department of Finance: Corporation Tax Regime (8 Dec 2016)

Michael Noonan: I was surprised and disappointed to learn in September that the Brazilian Federal Revenue Service had, without warning, added Ireland to Brazil's tax black list.  Being included on the list has a number of negative tax consequences including greater Brazilian taxation on flows of income from Brazil to Ireland. A formal request for Ireland to be removed from the...

Written Answers — Department of Finance: Revenue Documents Publication (8 Dec 2016)

Michael Noonan: I propose to take Questions Nos. 71 to 73, inclusive, together. I am advised by Revenue that, in discharging their statutory role in relation to the administration and collection of taxes, Revenue provides a range of information, including tax opinions, to taxpayers to assist them in understanding and complying with their obligations under tax law. Revenue has published detailed guidelines...

Written Answers — Department of Finance: Revenue Commissioners Investigations (8 Dec 2016)

Michael Noonan: I would first note that, since the establishment of the Revenue Commissioners in 1923, successive Governments and the Oireachtas have reaffirmed the principle of the independence of the Revenue Commissioners in their dealings with the tax affairs of any individual under tax and customs legislation. This independence is seen as critical to maintaining the integrity of the taxation system and...

Written Answers — Department of Finance: Tax Code (8 Dec 2016)

Michael Noonan: The basis for the current tax treatment of married couples derives from the Supreme Court decision in Murphy vs. Attorney General (1980). This decision was based on Article 41.3.1 of the Constitution where the State pledges to protect the institution of marriage. The decision held that it was contrary to the Constitution for a married couple, both of whom are working, to pay more tax than...

Written Answers — Department of Finance: Company Law (8 Dec 2016)

Michael Noonan: I am advised by Revenue that the income of a loan origination business should comprise interest received on loans originated, with the associated expenses being the normal expenses of carrying on such a business plus any interest paid on the funds borrowed for use in the loan origination business. If the loan origination company is a qualifying company (within the meaning of section 110...