Results 1,881-1,900 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (22 Nov 2016)

Michael Noonan: I am advised by Revenue that the 2015 Budget increases to the Income Tax standard rate band thresholds and the reduction in the higher Income Tax rate from 41% to 40% generated an estimated first and full year cost to the Exchequer of €292 million and €405 million respectively. Due to the nature of the interaction between the two Income Tax components within this package, it is...

Written Answers — Department of Finance: European Fund for Strategic Investments (22 Nov 2016)

Michael Noonan: I take it that the Deputy is referring to the provision under Article 4 of the current Regulation for the European Fund for Strategic Investments (EFSI) dealing with the Terms of the interinstitutional EFSI Agreement between the European Commission and the European Investment Bank implementing EFSI.  While supporting the right of Member States to make...

Written Answers — Department of Finance: Insurance Costs (22 Nov 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to...

Written Answers — Department of Finance: Insurance Costs (22 Nov 2016)

Michael Noonan: I am not considering a proposal such as that suggested by the Deputy. As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance...

Written Answers — Department of Finance: Credit Register Establishment (22 Nov 2016)

Michael Noonan: Since the enactment of the Credit Reporting Act, the Central Bank has taken a number of steps to deliver the Central Credit Register including the publication last September of regulations setting out certain detailed measures which will govern the content and operation of the Credit Register (information on this is available on the Central Bank's website at )....

Written Answers — Department of Finance: Tax Collection (22 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 168, 169 and 171 together. Goods purchased online from American based retailers are liable for both Customs Duties and VAT. The rate of VAT charged is at the same rate as applies to the sale of similar goods within Ireland. Customs duty is normally charged as a percentage of the value, with the percentage varying depending on the type of goods. There...

Written Answers — Department of Finance: Excise Duties Collection (22 Nov 2016)

Michael Noonan: I am informed by the Revenue that the Excise Duty on a pint of beer served over the counter at a licensed premises is €0.54 and the Excise Duty on a 500 ml can of Beer purchased in an off licence is €0.47. Please note that the Excise Duty content for a range of commodities is available on the Revenue website at the following link: .

Written Answers — Department of Finance: Credit Union Services (22 Nov 2016)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank of Ireland is the independent regulator for credit unions. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual...

Written Answers — Department of Finance: Consumer Protection (22 Nov 2016)

Michael Noonan: The issue raised by the Deputy is not a matter for the Revenue Commissioners or my Department. The Competition and Consumer Protection Commission is the statutory body responsible for enforcing consumer protection and competition law in Ireland.

Written Answers — Department of Finance: Credit Unions (22 Nov 2016)

Michael Noonan: On 2 November 2016 the President of the High Court, Mr Justice Peter Kelly, appointed joint provisional liquidators Jim Luby and Tom Rogers of McStay Luby to Rush Credit Union Limited. I have been informed by the Central Bank that the liquidators under section 80(1)(b) of the Central Bank and Credit Institutions (Resolution) Act 2011 have a statutory obligation to achieve the best...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Management (22 Nov 2016)

Michael Noonan: The National Treasury Management Agency (NTMA) who manage the ISIF inform me that to date in 2016, Activate Capital, which is a residential development financing entity, operational since January of this year, has provided site and working capital finance for the delivery of over 1,200 new homes. Activate's pipeline for new home construction funding is strong. The consistent feedback from...

Written Answers — Department of Finance: Pension Provisions (22 Nov 2016)

Michael Noonan: The Department of Finance has no record of any applications received or refused for Injury Warrants under the Superannuation Acts since 1995.

Written Answers — Department of Finance: VAT Rate Application (22 Nov 2016)

Michael Noonan: I would point out that VAT is charged on the supply of goods and services, and the rate applying is subject to the requirements of EU VAT law with which Irish VAT law must comply.  In this respect, when the 9% VAT rate was introduced in 2011 for tourism related to services, it was introduced in respect of certain goods and services to which a 9% VAT rate was permissible under EU VAT law,...

Written Answers — Department of Finance: VAT Exemptions (22 Nov 2016)

Michael Noonan: I am advised by the Revenue Commissioners that the Department of Education and Skills provides guidance on the physical education curriculum as part of the syllabus for primary and secondary schools and early childhood education. The supply of gymnastic lessons to children and young people is exempt from VAT, provided the lessons in question are provided as part of a programme that...

Written Answers — Department of Finance: State Banking Sector (22 Nov 2016)

Michael Noonan: The State's shareholding in AIB is a valuable asset and it is the Government's intention that the State will exit this and our other banking investments in a measured and careful manner. My primary objective in the disposal of these assets will be to maximise the return for the State. I have indicated in the past that an IPO is likely to be the optimal route to recouping...

Written Answers — Department of Finance: Corporation Tax Regime (22 Nov 2016)

Michael Noonan: My Department continually monitors potential international tax changes that may have an impact on Ireland.  The impact of any US tax reform on Ireland will clearly depend on the exact nature of the reform.  Any reforms are likely to be complex and involve broader measures than simply reducing rates. Regardless of the corporate tax rate applied by the US,...

Written Answers — Department of Finance: Common Consolidated Corporate Tax Base Proposals (22 Nov 2016)

Michael Noonan: The European Commission's proposal for a common consolidated corporate tax base (CCCTB) was published at the end of October.  It is a highly complex and technical proposal and time will be needed for all Member States to fully consider and discuss the proposal.  Ireland will engage constructively on the CCCTB proposal while critically analysing whether it is in our long-term...

Written Answers — Department of Finance: Small and Medium Enterprises Debt (22 Nov 2016)

Michael Noonan: As the Deputy will be aware, the UK referendum on EU membership has led to significant fluctuations in the value of Sterling against the euro and this presents challenges for Irish SMEs that export to the UK.  It is likely that the recent exchange rate movements may signal a longer term, rather than cyclical, change in the value of Sterling. While hedging can provide some...

Written Answers — Department of Finance: Insurance Coverage (22 Nov 2016)

Michael Noonan: I am aware of the recent media reports in relation to Gable Insurance. Gable Insurance AG (Gable) is a Liechtenstein incorporated company subject to prudential supervision by the Financial Market Authority (FMA) Liechtenstein. Gable was principally selling commercial insurance policies and surety bonds in a number of European countries, including Ireland, on a freedom of services basis....

Written Answers — Department of Finance: Property Tax Administration (22 Nov 2016)

Michael Noonan: Section 44 of the Finance (Local Property Tax) Act 2012 (as amended) provides that owners of more than one relevant residential property must meet their Local Property Tax (LPT) payment and filing obligations via electronic means. To assist property owners in meeting this statutory requirement, Revenue developed an online system that facilitates a wide range of payment alternatives,...