Results 41-60 of 27,019 for speaker:Michael Noonan

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: The Senator is throwing out words.

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: Where is the cronyism and corruption?

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: I do not know when an election will be called, but any prudent Senator or Deputy would need to have their wick trimmed and oil in their lamps.

Written Answers — Department of Finance: VAT Registration (31 May 2017)

Michael Noonan: VAT is governed by the EU VAT Directive (Council Directive 2006/112/EC),with which Irish VAT law must comply. The thresholds for Ireland 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. The Irish VAT thresholds were increased...

Written Answers — Department of Finance: Revenue Commissioners Data (31 May 2017)

Michael Noonan: Revenue’s clear preference is always to engage positively with insolvent individuals who enter into Personal Insolvency or Debt Settlement arrangements and has to date agreed terms in five hundred cases since the Personal Insolvency Act was enacted. However Revenue can only ‘opt in’ to the process where the Personal Insolvency Practitioner on behalf of the insolvent...

Written Answers — Department of Finance: Liquor Licence Data (31 May 2017)

Michael Noonan: I propose to take Questions Nos. 118 to 122, inclusive, together. I am advised by Revenue that the average payment made by publicans holding an on-trade liquor licence in 2016 was €737 and that the average payment made by retailers in the off-trade holding beer, spirit and wine licences in 2016 was €1,265. Table 1 sets out the current cost of a wine, beer and spirit licence for...

Written Answers — Department of Finance: Liquor Licence Fees (31 May 2017)

Michael Noonan: The issue of applying turnover-based licensing to the off trade was considered in TSG15/05 General Excise Duties Tax Strategy Group paper in advance of Budget 2016, and is available on my Department's website: . In relation to the off-trade, a separate licence is required to sell spirits, wine, beer, cider or sweets for consumption off the premises. The duty for each licence is...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (30 May 2017)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a fuel grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (30 May 2017)

Michael Noonan: I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to householders and businesses alike, and that is one of the reasons the Government has been prioritising investment in flood defences over the last number of years in order to minimise the risk of flooding.  However, the provision of insurance cover and the price at which it is...

Written Answers — Department of Finance: Stability and Growth Pact (30 May 2017)

Michael Noonan: The European Commission published its recommendation for a Council Recommendation on the 2017 National Reform Programme of Ireland and delivering a Council opinion on the 2017 Stability Programme of Ireland on the 22 May 2017.  My officials are currently examining the recommendation and the Commission staff's assessment of Ireland's 2017 Stability Programme Update. Recital eight of...

Written Answers — Department of Finance: Brexit Issues (30 May 2017)

Michael Noonan: I did not raise the possibility of utilising the unusual event clause when at the Eurogroup meeting last week as Ireland currently does not qualify for its use. As outlined for Deputy Doherty in PQ number 24 of the 18/05/2017 the Commission’s guidance on the implementation of the ‘unusual event clause’ in the preventative arm of the Stability and Growth pact (SGP) allows...

Written Answers — Department of Finance: Brexit Issues (30 May 2017)

Michael Noonan: The Department of Finance has been assessing and preparing for the impact of Brexit since well before the referendum on 23 June 2016. Work was carried out in the Department to assess the potential economic and financial sector implications arising, including the study, published in November 2015, under the ESRI-Department of Finance research programme, entitled 'Scoping the Possible Economic...

Written Answers — Department of Finance: Ministerial Meetings (30 May 2017)

Michael Noonan: Irish SMEs will require support to diversify and restructure their businesses in light of Brexit. It is a key Government strategy to support the growth of and investment in this important sector of the economy. As the Deputy will be aware, there are already significant Government measures to support the financing needs of SMEs and these will be available to assist SMEs deal with the effects...

Written Answers — Department of Finance: Brexit Issues (30 May 2017)

Michael Noonan: The first meeting of the Ireland-EIB Financing Group coincided with the formal opening of the EIB’s office in Dublin in December 2016, which in itself was a very welcome development. I chaired the meeting since the Minister for Finance is the Governor for Ireland of the EIB - this mirrors the position pertaining in the other 27 EU Member States.  My Cabinet colleagues, the...

Written Answers — Department of Finance: Insurance Costs (30 May 2017)

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 accept.  This...

Written Answers — Department of Finance: Economic Growth Rate (30 May 2017)

Michael Noonan: The expenditure benchmark is designed to ensure that spending increases are made on a sustainable basis and not based on one-off factors.  In other words, the objective of the benchmark is to avoid repeating the mistakes of the past which ultimately resulted in the collapse of the public finances in Ireland.   The 26 per cent growth rate recorded in 2015 was a one-off, largely...

Written Answers — Department of Finance: National Mitigation Plan (30 May 2017)

Michael Noonan: My Department is participating in a whole-of-Government approach led by the Minister for Communications, Climate Action and Environment, in respect of the formulation of the National Mitigation Plan.   Sectoral mitigation proposals have been put forward by Departments with sectoral responsibility, as follows: 1. Department of Communication, Climate Action and Environment 2. Department of...

Written Answers — Department of Finance: Tax Compliance (30 May 2017)

Michael Noonan: Pension income is subject to income tax in the same way as other income. Irish pension income is taxable under Schedule E, as set out in section 19 of the Taxes Consolidation Act (TCA) 1997, and foreign pension income is taxable under Schedule D, as provided for in section 18 of the TCA. An individual who is tax resident in Ireland is liable to Irish tax on his or her worldwide income...

Written Answers — Department of Finance: Fuel Laundering (30 May 2017)

Michael Noonan: The serious threat that fuel fraud poses to legitimate business, to consumers and the Exchequer is recognised and I am advised by Revenue that tackling this criminal activity has been one of their priorities over recent years. Revenue’s comprehensive strategy for combatting the illegal fuel trade has included the introduction of stringent new supply chain controls and reporting...

Written Answers — Department of Finance: Budget Measures (30 May 2017)

Michael Noonan: It is currently estimated that there will be a total negative carryover into 2018 as a result of Budget 2017 tax measures in the region of €170 million.  It is important to point out that the exact impact of carryover will be reviewed as part of the normal Budgetary process, as there are a lot of moving parts to be considered, such as economic growth, take up of various...