Results 20,961-20,980 of 27,019 for speaker:Michael Noonan

Written Answers — Financial Services Regulation: Financial Services Regulation (13 Jun 2012)

Michael Noonan: Part 3 of the Central Bank Reform Act 2010 created for the first time in Irish law a harmonised statutory system for the regulation by the Central Bank of Ireland of persons performing controlled functions or pre-approval controlled functions in regulated financial service providers. Section 21 of the Central Bank Reform Act 2010 provides that a regulated financial service provider shall not...

Written Answers — National Asset Management Agency: National Asset Management Agency (13 Jun 2012)

Michael Noonan: I am informed by NAMA that its 2011 annual report and financial statements, which is due for publication in July, will disclose the carrying value and fair value of its loans. NAMA advises that it is not required to follow the Central Bank guidelines. However, in preparing its annual accounts, NAMA uses international financial reporting standards (IFRS) which are consistent with the Central...

Written Answers — Financial Services Regulation: Financial Services Regulation (13 Jun 2012)

Michael Noonan: I propose to take Questions Nos. 65 to 67, inclusive, together. I have been informed by the Central Bank of Ireland that it is bound by strict confidentiality requirements under Section 33AK (1) (b) (i) of the Central Bank Act 1942, as amended regarding disclosure of supervisory information relating to firms. The Central Bank has developed a framework for reviewing, assessing and mitigating...

Written Answers — Public Service Remuneration: Public Service Remuneration (13 Jun 2012)

Michael Noonan: In response to the Deputy's question the members of the NTMA senior management team - ten people including the Chief Executives of the NTMA, NDFA and NAMA – waived any consideration for performance-related pay in respect of 2011 (as they did previously in respect of 2010). The NTMA made performance-related payments to five key staff in respect of 2011. These payments in aggregate totalled...

Written Answers — Departmental Funding: Departmental Funding (13 Jun 2012)

Michael Noonan: In response to the Deputy's question: The Disabled Drivers Medical Board of Appeal falls within the categories mentioned as an organization which receives funding from the state (through Subhead A3, Vote 7). Part of this Subhead inter alia meets the cost of the Disabled Drivers Medical Board of Appeal. The Board hears appeals from people who have been refused a Primary Medical Certificate...

Written Answers — Disabled Drivers: Disabled Drivers (12 Jun 2012)

Michael Noonan: I am informed by the Revenue Commissioners that Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No: 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (as amended) provide for permanent relief from the payment of specified maximum amounts of VAT and VRT for persons registered under the scheme. An application form (DD1) for...

Written Answers — Ministerial Meetings: Ministerial Meetings (12 Jun 2012)

Michael Noonan: I propose to take Questions Nos. 181, 195 to 199, inclusive, and 204 together. I attended the Bilderberg meeting in Westfield Marriot, Chantilly, Virginia, USA, from 1 to 3 June 2012. I, like a number of my European colleagues (both Ministers and EU Commissioners), was invited to attend given my position as Minister for Finance. I travelled alone and the total cost associated with my...

Written Answers — Commission on Credit Unions: Commission on Credit Unions (12 Jun 2012)

Michael Noonan: I propose to take Questions Nos. 182 and 183 together. The Final Report of the Commission on Credit Unions was published in April this year. The Report's recommendations were agreed by all members of the Commission, including the representatives of the credit union movement. I have welcomed the Report. The Commission on Credit Unions has provided a landmark Report with far reaching...

Written Answers — Revenue Documents: Revenue Documents (12 Jun 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that a P45 has been received by them on 20 April 2012. If the person concerned has not yet received their copy they can contact the employer for a copy.

Written Answers — Motor Vehicle Registration: Motor Vehicle Registration (12 Jun 2012)

Michael Noonan: I am advised by the Revenue Commissioners that registration numbers are assigned under section 131(5) of the Finance Act 1992. The registration number assigned at the time of first registration in the State remains assigned to that vehicle and must be displayed at all times until the vehicle is scrapped, destroyed or sent permanently out of the State. I have no plans at present to change...

Written Answers — Fuel Prices: Fuel Prices (12 Jun 2012)

Michael Noonan: Ireland, as with other countries, has experienced an increase in the cost of petrol and auto-diesel. This is an international phenomenon driven by a number of factors including the price of oil on international markets, exchange rates, production costs and refining costs. The rise in oil prices over recent periods reflected additional factors such as geopolitical uncertainty in Northern...

Written Answers — National Asset Management Agency: National Asset Management Agency (12 Jun 2012)

Michael Noonan: I am advised by NAMA that it is the Agency's practice to allow debtor companies to retain overhead costs from rental or other income that are produced by their assets where this is necessary for the operations of the debtor companies. The level of overhead is only agreed following a thorough and rigorous evaluation of the debtor's business plan by NAMA. Each cost element is reduced to the...

Written Answers — Tax Reliefs: Tax Reliefs (12 Jun 2012)

Michael Noonan: The amount of investment approved under the Employment and Investment Incentive in 2011 and 2012 to date is set out in the following table. The number of companies that benefited from these investments is also included. Employment and Investment Incentive Year Amount of Investment €m Number of Companies 2011* 0* 0* 2012 to date 2.38 11 * The EII was introduced from 25 November 2011 and...

Written Answers — Tax Reliefs: Tax Reliefs (12 Jun 2012)

Michael Noonan: The estimated amount of investment approved under the Business Expansion Scheme (other than investments approved under the Employment and Investment Incentive Scheme) in the calendar years 2008, 2009, 2010 and 2011 is as set out in the following table. The number of companies which benefited from these investments is also provided. Business Expansion Scheme Investments Year Amount of...

Written Answers — Tax Reliefs: Tax Reliefs (12 Jun 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the total cost of the research and development tax credits allowed from 2008 to 2010, the latest year available, together with the number of businesses associated with that cost, are shown in the following table: Research and Development Tax Credit Year Exchequer Cost of Research and Development Tax Credit Estimated investment on which relief...

Written Answers — Job Assist Scheme: Job Assist Scheme (12 Jun 2012)

Michael Noonan: Sections 472A and 88A of the Taxes Consolidation Act 1997 provide tax incentives for both employers and employees, to help the long-term unemployed to return to employment. The relevant information available is in relation to the numbers of employees and employers who availed of the Revenue Job Assist scheme for the income tax years 2008 to 2011 inclusive, the latest year for which the...

Written Answers — Foreign Earnings Deduction: Foreign Earnings Deduction (12 Jun 2012)

Michael Noonan: The Foreign Earnings Deduction was introduced from the 2012 tax year. Therefore, it will be 2013 before reliable statistics on its uptake will be available.

Written Answers — Tax Reliefs: Tax Reliefs (12 Jun 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information available so far on the relief in question is for the year 2010 as derived from corporation tax returns filed in respect of that year. The number of companies claiming the relief for 2010 was 855.

Written Answers — Bank Charges: Bank Charges (12 Jun 2012)

Michael Noonan: The Deputy will be aware that the Bank's policy in relation to fees is a matter for the management and board of the institution. I have no role in the day-to-day commercial and operational decisions of the banks, which include these matters. These decisions are taken by the board and management of the institution. Notwithstanding the fact that the State is a significant shareholder in the...

Written Answers — National Treasury Management Agency: National Treasury Management Agency (12 Jun 2012)

Michael Noonan: The balances held by the NTMA at the Central Bank of Ireland as at 31 May 2012 are as follows: NTMA Cash balances at Central Bank 31 May 2012 € Million Exchequer Account 13,503 Capital Services Redemption Account 50 Post Office Savings Bank Fund 319 National Loans Advance Interest Account 14 National Loans winding Up Accounts 3 Unclaimed Dividends Account 2 Dormant Accounts Fund...