Results 21,261-21,280 of 27,019 for speaker:Michael Noonan

Written Answers — International Taxation Agreements: International Taxation Agreements (22 May 2012)

Michael Noonan: Ireland has currently 66 signed double tax treaties, of which 59 are in effect. The principal purposes of these treaties are, first, to avoid double taxation which would otherwise arise as a result of each of the signatory countries separately taxing the same income or gains without relief for the tax paid in the other country and, second, to assist in preventing tax evasion. In addition,...

Written Answers — International Taxation Agreements: International Taxation Agreements (22 May 2012)

Michael Noonan: I am advised by the Revenue Commissioners that taxpayer confidentiality considerations preclude the release of the names of companies or other persons availing of the provisions of any double taxation treaty.

Written Answers — International Taxation Agreements: International Taxation Agreements (22 May 2012)

Michael Noonan: One of the principal purposes of a double tax treaty is to prevent the taxation of the same income in both the countries concerned - typically, as in the case of Ireland's double tax treaties, by the elimination or reduction of withholding taxes. Tax havens are excluded from tax treaty networks.

Written Answers — Mortgage Interest Rates: Mortgage Interest Rates (22 May 2012)

Michael Noonan: It is not appropriate for me, as Minister for Finance, to comment on or become involved in the individual case of a borrower.

Written Answers — Fiscal Compact Treaty: Fiscal Compact Treaty (22 May 2012)

Michael Noonan: I propose to take Questions Nos. 243 and 244 together. As the Deputy will be aware, the original ESM Treaty signed on 11 July 2011 provided a predefined pricing structure for loans. Subsequently, the Euro Area Heads of State or Government (HOSG) agreed on 21 July 2011 in the context of the agreement on a new programme of support for Greece, to reduce the cost of the European Financial...

Written Answers — Departmental Consultancy Contracts: Departmental Consultancy Contracts (22 May 2012)

Michael Noonan: The following table details the expenditure by my Department on consultancies in 2008, 2009, 2010 and 2011. Every effort is made to minimize costs in this area but, from time to time, certain specialist skills and expertise are required. Our ongoing contract with Arthur Cox is necessary because the unfolding financial issues of relevance to the stabilization and regulation of the...

Written Answers — Mortgage Interest Relief: Mortgage Interest Relief (22 May 2012)

Michael Noonan: This is a matter for the Revenue Commissioners. On that basis I am advised by Revenue Commissioners that the person concerned is not currently receiving mortgage interest relief. If the person concerned has a secured loan, used to purchase, repair, develop or improve his principal private residence, then he may qualify for mortgage interest relief. The person must register for the relief...

Written Answers — Late Payment of Taxes: Late Payment of Taxes (22 May 2012)

Michael Noonan: The Finance Act 2009 provided for a reduction from 1 July 2009 of the rate of interest applied to late payment of tax. In the case of Income Tax, Corporation Tax, Capital Gains Tax, Capital Acquisition Tax, and Stamp Duty, the daily rate of interest was reduced from 0.0273% to 0.0219%, in effect an annual equivalent drop from 10 % to 8%. In the case of fiduciary taxes e.g. VAT, PAYE/PRSI and...

Written Answers — Departmental Consultancy Contracts: Departmental Consultancy Contracts (22 May 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the total amount of expenditure on consultancy in 2008, 2009, 2010 and 2011 and the details requested are set out in the following tables. In accordance with "Guidelines on the Engagement of Consultants and other External Support" issued by the Department of Finance, consultant support is procured only where it is necessary and value for money...

Written Answers — Credit Unions: Credit Unions (22 May 2012)

Michael Noonan: I propose to take Questions Nos. 249 and 254 together. I met with the Irish League of Credit Unions (ILCU) on 15 December 2011 and attended and spoke at the ILCU AGM on 28 April 2012. I also met recently with the Commission on Credit Unions, including its ILCU members, following completion of the Commission's Final Report. In addition, my officials meet with ILCU regularly across a range...

Written Answers — General Government Debt: General Government Debt (22 May 2012)

Michael Noonan: I propose to take Questions Nos. 250 and 258 together. As the Deputy is aware one has to read or listen very carefully to what emanates by way of statement from European Authorities. The general tone of such comments has followed the line that Ireland must honour commitments in relation to the repayment of debt. The Government is also committed to this principle. Commissioner Rehn and I...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (22 May 2012)

Michael Noonan: As Minister for Finance I have numerous meetings across all areas of my remit including the area of banking regulation. In that context the issue of banking regulation has arisen on a number of occasions at meetings with the Central Bank, financial institutions, at EU level including ECOFIN, as well as at a number of meetings with my own officials.

Written Answers — European Council: European Council (22 May 2012)

Michael Noonan: While there has been a lot of media speculation about a possible successor to Jean-Claude Juncker as President of the Eurogroup, no formal proposals have yet been tabled. Neither I nor my Department have been approached about supporting any potential candidate, and I will wait to see who the formal nominees will be before coming to any conclusion.

Written Answers — Fiscal Policy: Fiscal Policy (22 May 2012)

Michael Noonan: The Irish Fiscal Advisory Council was established on a non-statutory basis in June 2011. Its mandate is to provide an assessment of, and to comment publicly on, whether the Government is meeting its own stated budgetary targets and objectives. The Council is also charged with assessing the appropriateness and soundness of the Government's fiscal stance and macroeconomic projections, as well...

Written Answers — European Banking Sector: European Banking Sector (22 May 2012)

Michael Noonan: The Department is cognisant of developments impacting the European Banking sector, and in particular the level of leverage among European banks. I am also acutely aware of the dangers to economic growth which large scale deleveraging might give rise to. To this end we are working at a European level to mitigate the risks to growth from deleveraging of the European financial system and this...

Written Answers — Market Volatility: Market Volatility (22 May 2012)

Michael Noonan: Since the international financial crisis began we have seen periods of intense market volatility as well as periods of relative calm. In recent weeks, mainly on foot of political developments in a number of countries, we have seen increased uncertainty regarding the future direction of policy in the euro area and this is reflected in market developments. Clearly there are lots of moving...

Written Answers — EU-IMF Programme: EU-IMF Programme (22 May 2012)

Michael Noonan: My colleague, the Minister for Public Expenditure and Reform, Mr Brendan Howlin T.D., and I met with the EU-IMF delegation during the recent quarterly review of the EU / IMF Programme of Financial Support for Ireland. These meetings were also attended by senior officials from both Departments. A wide range of topics was covered at these meetings, including financial reforms, structural...

Written Answers — Banking Sector: Banking Sector (22 May 2012)

Michael Noonan: I have had the following meetings with representatives of the banking sector since the start of this year: 16 Jan Barclays 18 Jan Commerzbank 26 Jan Institute of International Finance 2 Feb UBS 2 Mar Central Bank of Ireland 6 Mar Danske / NIB 5 Apr BOI 5 Apr IBRC 19 Apr Ulster / RBS 16 May Irish Bankers Federation 17 May Institute of International Finance In normal course I...

Written Answers — Tax Code: Tax Code (22 May 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that if the transfer of ownership of the property referred to in the question is pursuant to a divorce settlement, no Stamp Duty would apply under the provisions of Section 97 Stamp Duties Consolidation Act 1999. However, if the transfer is not pursuant to a divorce settlement, Stamp Duty is chargeable under Section 41 Stamp Duties...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (22 May 2012)

Michael Noonan: I had an arranged call with Commissioner Rehn on 16 April 2012. The Deputy will appreciate that much of the discussions, at this point, are on an informal basis. As soon as the technical discussions are concluded a more formal and structured approach will be adopted to ensure political support. Commissioner Rehn and I both attend Ecofin meetings and this provides a regular opportunity to...