Written answers
Wednesday, 8 June 2011
Department of Finance
Tax Code
9:00 pm
Gerry Adams (Louth, Sinn Fein)
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Question 70: To ask the Minister for Finance if a company (details supplied) has been able to avail of tax exemptions or taxation expenditures since its arrival on the Irish market; the schemes that the company could have benefited from; and the cost to the Exchequer of each scheme on an annual basis since its arrival here. [14670/11]
Michael Noonan (Limerick City, Fine Gael)
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The tax affairs of a particular company are a matter for the Revenue Commissioners and the company concerned. I am informed by the Revenue Commissioners that their obligation to observe confidentiality in relation to the tax affairs of individual taxpayers or companies precludes them from providing the information requested by the Deputy.
Alex White (Dublin South, Labour)
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Question 71: To ask the Minister for Finance his plans for the abolition of mortgage interest relief for first time buyers and the proposal to introduce a new relief for those who purchased homes between 2004 and 2008; how a person will qualify under the new scheme; the stage of house purchase that must have been completed by 31 December 2008 in order to qualify; and if he will make a statement on the matter. [14570/11]
Michael Noonan (Limerick City, Fine Gael)
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There is a commitment in the Programme for Government to help homeowners in distress. The Government will examine a number of proposals in relation to this commitment.
One of these proposals relates to increasing mortgage interest relief to 30% for First Time Buyers who bought between 2004 and 2008 and to finance this in part by abolishing mortgage interest relief for new buyers.
When this proposal has been thoroughly examined, I will decide on the appropriate action to be taken. However, any measures will not be introduced before Budget 2012.
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