Results 1,821-1,840 of 27,019 for speaker:Michael Noonan

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: If gaps emerge in the course of 2017, I will come back to close them because I know what the policy intent is. It is as I stated to Deputy Richard Boyd Barrett.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: Yes. It states the figure is €20 billion.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: The Deputy is familiar with the DIRT tax regime and also with what we intend to do on foot of the Finance Bill. It is not a policy decision; it is one that stems from a lack of resources to extend it fully. What the Minister of State, Deputy Eoghan Murphy, committed to on Committee Stage was referring the issue to the tax strategy group in mid-summer to get its advice on how we should...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: I move amendment No. 35:In page 40, between lines 24 and 25, to insert the following:“other than a loan or a specified agreement which derives its value or the greater part of its value from a CLO transaction, a CMBS/RMBS transaction, a loan origination business or a sub-participation transaction,”. Proposals for an amendment to section 110 of the Taxes Consolidation Act 1997...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: As colleagues have remarked, the speaking note I read was extensive and contained a lot of information. I can get my Department to amplify on it and give Members a full written explanation of the points made. I do not want to give a commitment to commission too many reports because my Department would do nothing but produce reports for the next six months if I was to accede to every...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: I thank colleagues for their contributions. As many colleagues have said, loss relief is a standard feature of corporation tax regimes worldwide. Under the Irish corporate tax regime, losses incurred in the course of a business are allowed to be taken into account in calculating the appropriate tax due by companies. Loss relief recognises the fact that business cycles run over a longer...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: Do I have a right of reply?

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: The man made many allegations.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: They were not true.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: I am sure I can, if the Chair allows me to be out of order.

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael Noonan: I agree with Deputy McGrath that the statistics put on the record by Deputy Boyd Barrett are startling, but what is even more startling is they are all incorrect. He has been supplied with the information previously which shows they are incorrect. In an exchange with me in the House it was pointed out to him the discrepancy between 34,000 and approximately 75,000 arises from the fact 34,000...

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael Noonan: It is important to emphasise that the relevant contracts tax, RTC, system does not determine the employment status of any individual engaged in the construction industry. The design and development of the relevant contracts tax system was an anti-tax evasion measure to counteract tax evasion in the construction, forestry and meat processing sectors. Principal contractors are required to...

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael Noonan: I thank both Deputies. I will ask my officials to take the matter raised by Deputy Pearse Doherty up with the Revenue Commissioners and see whether the form of identification they are requesting is too restrictive. Deputy Lawless made a good case, so between now and next year's finance Bill, we will examine the situation and see whether any progress can be made.

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael Noonan: The Central Bank has a different view. We have evidence this morning from Deputy Pearse Doherty who quoted Bank of Ireland as stating before the committee that it was sanctioning a lot of mortgage applications, but that the mortgages were not being taken up because a supply of starter homes was not available.

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael Noonan: Section 118(5A) of the Taxes Consolidation Act 1997 exempts employees and directors from benefit-in-kind taxation where an expense has been incurred by an employer in the provision of a monthly or annual bus, train or Luas pass for the employee or director. The exemption also includes passes for travel on commuter ferry services which operate within the State on journeys which begin and end...

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael Noonan: We are dealing with the help to buy scheme section of the Bill. Negative equity problems are not referenced anywhere in the Bill. I have already replied to the points made by Deputy Donnelly. Regarding Deputy Pearse Doherty's point that no construction activity will take place in the next ten months, he is not correct. Many sites have been opened and builders pace their developments to...

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael Noonan: As I outlined in detail on Committee Stage, the help-to-buy incentive is an important element of Government policy on housing. It is one part of the many actions to develop a fully functioning housing market that responds adequately to the needs of our citizens included in Rebuilding Ireland - Action Plan for Housing and Homelessness, which was launched last July. It is in this context that...

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael Noonan: Yes.

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael Noonan: I thank all Deputies for their contributions. It was a good proposal on the part of Deputy Joan Burton and I am glad to be able to respond to it. We had further consultations with the Department of Housing, Planning, Community and Local Government, which had some observations on the extending of eligibility to local authority tenants as against private tenants. It said local authority...

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael Noonan: No.