Results 20,221-20,240 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Sector Regulation (2 Oct 2012)

Michael Noonan: As the Deputy will be aware, the Banks’ policies in relation to lending rates are a matter for the boards and management of each institution. Notwithstanding the fact that the State is a significant shareholder in various institutions, I must ensure that the banks are run on a commercial, cost-effective and independent basis to ensure the value of each bank as an asset to the State, as...

Written Answers — Department of Finance: Credit Review Office Appeal Numbers (2 Oct 2012)

Michael Noonan: I have been informed by the Credit Review Office that it has received 202 formal applications since the establishment of the Office. Of these 10 are proceeding through the review process and 19 have been abandoned or withdrawn leaving 173 cases which in which the Office issued a recommendation. The Credit Review Office recommended that the applicant was granted credit in 95 cases or 55% and...

Written Answers — Department of Finance: Credit Ratings (2 Oct 2012)

Michael Noonan: The Credit Reporting Bill 2012 was published last Friday, 28th September 2012. It was a commitment under the EU/ECB/IMF Programme of Financial Support to have the Bill published before end September. When the Bill is enacted and the necessary tendering processes are finalised, the Central Credit Register will be established. It is not possible at this early stage to give an accurate...

Written Answers — Department of Finance: Tax Yield (2 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 130 and 131 together. I am advised by the Revenue Commissioners that the relevant information that is readily available at this time in respect of the top 1%, 5%, 10%, 20% and 50% of income earners is as estimated by reference to the income tax year 2012, and is set in the following table: - Top 1% of income earners Top 5% of income earners Top 10% of...

Written Answers — Department of Finance: National Debt (2 Oct 2012)

Michael Noonan: The data requested by the Deputy for the period 2007-2015 is set out in the table. The current forecast horizon is out to 2015 and so forecasts post 2015 are not available at present. The 2012-2015 forecasts are taken from the Stability Programme Update published last April. I would also like to make the Deputy aware that my Department is currently updating its macroeconomic and fiscal...

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (2 Oct 2012)

Michael Noonan: I am advised by NAMA that, apart from the recent case which has been referred to An Garda Síochána, it has not identified any other possible breaches of confidentiality involving an employee of the Agency. The Deputy may wish to also consider my response to a Parliamentary Question from Deputy Pearse Doherty (38531/12, 20th September 2012), which addresses the safeguards in place...

Written Answers — Department of Finance: NAMA Staff Transactions (2 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 134 and 135 together. I am informed by NAMA that it is aware of only one transaction involving the sale of property by a NAMA debtor to a former employee. The deputy maybe aware that the aforementioned employee did not disclose the transaction to NAMA at any time either prior to or following the transaction. NAMA has also informed me that they have not...

Written Answers — Department of Finance: Mortgage Interest Relief Application (2 Oct 2012)

Michael Noonan: This is a matter for the Revenue Commissioners who are responsible for the administration of mortgage interest relief through the tax relief at source [TRS] system. The 30% rate of mortgage interest relief for those who took out their first qualifying home loan between 2004 and 2008 came into effect with the enactment of the Finance Act 2012. The regulations provide for the granting of the...

Written Answers — Department of Finance: Debt Cancellation (2 Oct 2012)

Michael Noonan: I understand that in 2010 both the World Bank and the International Monetary Fund (IMF) cancelled all the outstanding liabilities that they were owed by Haiti. In the case of the World Bank this amount was USD 36 million; for the IMF it was USD 274 million. At the same as it cancelled Haiti’s liabilities, the IMF also approved a request from Haiti for a three-year Extended Credit...

Written Answers — Department of Finance: Tax Code (2 Oct 2012)

Michael Noonan: Irish VAT law is subject to the provisions of the EU VAT Directive with which it must comply. Up to 31 December 2011 admissions to historic houses and gardens, and open farms were treated for VAT purposes as lettings and regarded as exempt from VAT. Having regard to certain decisions of the European Court of Justice, where a letting was defined for VAT purposes, it was decided that such...

Written Answers — Department of Finance: GDP-GNP Levels (2 Oct 2012)

Michael Noonan: The information requested by the Deputy is provided as follows. NIE GDP Current Prices GNP Current prices 1992* 40,489 35,998 1993* 43,605 38,943 1994* 46,864 42,146 1995 53,787 47,634 1996 58,894 52,027 1997 68,154 59,660 1998 78,685 68,739 1999 90,683 77,133 2000 105,775 90,287 2001 117,643 98,668 2002 130,877 107,182 2003 140,827...

Written Answers — Department of Finance: Bank Charges (2 Oct 2012)

Michael Noonan: The Central Bank has advised me that under Section 149 of the Consumer Credit Act, 1995 (as amended), credit institutions and bureaux de change must notify the Central Bank if they wish to: - Introduce any new customer ‘charge’ for providing a service or - Increase any existing customer ‘charge’ for providing a service. The Central Bank assesses these charges...

Written Answers — Department of Finance: Customs and Excise Controls (27 Sep 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the information sought by the Deputy is set out in the following table: Year Cigarettes (number) Tobacco (kgs) Alcohol (Litres) Tablets (number) 2010 24,463,902 1168.98 107 182,902 2011 19,306,084 1212.35 337 187,420 2012* 10,749,942 1320.86 206 612 The figures in respect of tablets include prohibited drugs and...

Written Answers — Department of Finance: Credit Availability (27 Sep 2012)

Michael Noonan: The issue of access to credit for small businesses is a priority for the Government and in that regard a number of initiatives have been introduced. The restructuring plan for the banking system creates capacity for the two pillar banks, Bank of Ireland and AIB, to provide lending in excess of €30 billion in the next three years. The Government has imposed targets on the two domestic...

Written Answers — Department of Finance: Tax Clearance Certificates (27 Sep 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that an application can be made on-line for a Tax Clearance Certificate on www.revenue.ie. Alternatively, an applicant can submit a TC1 form to the appropriate Revenue Office. A Tax Clearance Certificate can only be issued by Revenue to a person whose tax affairs are in order at the date of issue of that Certificate. In relation to the...

Written Answers — Department of Finance: Vehicle Registration Issues (27 Sep 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the typical way that the market selling price of a motor home is calculated is by reference to market indicators such as sales advertisements for similar vehicles in the State. In addition due allowance is made for factors such as the possibility of a negotiated reduction in price and whether the appropriate VRT has already been paid. A recent...

Written Answers — Department of Finance: Tax Reliefs Availability (27 Sep 2012)

Michael Noonan: The transport of passengers and their accompanying baggage is exempt from VAT under paragraph 14(3) of Schedule 1 to the Value-Added Tax Consolidation Act 2010. A person who provides a bus tour service does not register for VAT and cannot recover VAT incurred on goods and services used for the purposes of that tour service, including fuel costs. In the UK, passenger transport is zero rated...

Written Answers — Department of Finance: Tax Yield (27 Sep 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the information sought by the Deputy is not directly available from the data maintained by them. However, on the basis of an estimation of the sectoral distribution of taxes collected annually, Revenue has estimated that the net income tax (inclusive of the Universal Social Charge) collected through the PAYE system from public sector employees in...

Written Answers — Department of Finance: General Government Debt (27 Sep 2012)

Michael Noonan: The information the Deputy is seeking is set out in the Table. - 2007 2008 2009 2010 2011 2012 - €m €m €m €m €m €m a. General Government Balance (GGB)* 170 -13,129 -22,467 -48,426 -20,157 -13,115 b. Interest 1,953 2,380 3,250 4,928 5,278 6,460 c. Primary GGB (c=a+b) 2,123 -10,749 -19,217 -43,499 -14,879 -6,655...

Written Answers — Department of Finance: Tax Yield (27 Sep 2012)

Michael Noonan: I assume the Deputy has in mind a 1 percentage point increase in the rate of Universal Social Charge (USC) applying to incomes exceeding €90,000 in the manner indicated in the question. The Universal Social Charge (USC) is an individualised charge and as such the yield is calculated for individual incomes of more than €90,000. On that basis, I am advised by the Revenue...