Results 21,401-21,420 of 27,019 for speaker:Michael Noonan

Written Answers — National Asset Management Agency: National Asset Management Agency (2 May 2012)

Michael Noonan: I am advised by NAMA that it is expected that the private investors will purchase the Irish Life shareholding in the NAMA SPV through a nominee account structure. The detail of this, which will be completed in a number of weeks, is commercially sensitive. It would not be appropriate, therefore for me to comment any further on it.

Written Answers — Banks Recapitalisation: Banks Recapitalisation (2 May 2012)

Michael Noonan: The €90 million additional cost in 2012 of using a Government bond to meet the Promissory Note payment due at the end of March instead of borrowing under the EU/IMF Programme was estimated by subtracting the €80 million interest costs under the Programme from the total estimated cost of €170 million arising from the Government bond. This total cost, based on a projected nominal...

Written Answers — Tax Collection: Tax Collection (2 May 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the taxpayer in question has some issues to be resolved, arising from his registration as a self-employed person. Revenue will write to the taxpayer directly. If he requires additional information he should contact Sinead Ryan, Revenue House, Blackpool, Cork on 021 6027561.

Written Answers — Tax Collection: Tax Collection (2 May 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned has not filed a tax return or made written contact with Revenue for many years, so it is not possible to give a definitive answer. However, based on the most recent information available to Revenue, this person's pension from the Department of Social Protection has been taken into account when allocating his tax credits in...

Written Answers — Tax Code: Tax Code (2 May 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 — EU Treaties: EU Treaties (2 May 2012)

Michael Noonan: Neither I, nor my Department possess any such transcripts and I am not aware that any exist.

Written Answers — National Asset Management Agency: National Asset Management Agency (2 May 2012)

Michael Noonan: I have been informed by NAMA that at the end of March 2012 it held cash and liquid investments (principally short-term government securities) of €4.6 billion. At my direction NAMA entered into a re-purchase agreement with the Irish Bank Resolution Corporation Limited whereby it advanced €3.06 billion to IBRC on a short-term basis. This agreement has a maximum duration of 90 days. Having...

Written Answers — National Asset Management Agency: National Asset Management Agency (2 May 2012)

Michael Noonan: Part 2, Chapter 2 of the NAMA Act, 2009 governs appointments to the Board of NAMA and grants me the authority to appoint seven Board Members. In line with Government arrangements for appointments to State boards and bodies expressions of interest in respect of vacancies on the Board were invited via the website of my Department in February 2011. However, it should be noted that under the...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (2 May 2012)

Michael Noonan: Information regarding the composition of the management teams of the relevant State controlled banks is available on the respective company's websites through annual reports and updated press releases. However, for completeness, the current status of the management teams of each institution is presented below: The Executive Committee of AIB is currently comprised of the following...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (2 May 2012)

Michael Noonan: As the Deputy is aware, I have indicated that I am committed to reviewing the approach to the Promissory notes with a view to reducing the overall cost to the State of correcting the banking system. The Troika have agreed to engage in a process with Irish Officials to produce a common paper which will consider options for re-engineering the notes in terms of the maturity of the notes, the...

Written Answers — Tax Refunds: Tax Refunds (1 May 2012)

Michael Noonan: I am informed by the Revenue Commissioners that a tax refund claim, which is outside the four year limit provided for under Section 865 of the Taxes Consolidation Act, 1997 cannot be allowed. However, the Commissioners will examine whether, in the case in question, there is a possibility that a claim was made within the statutory time limit and will communicate directly with the Deputy.

Written Answers — Sports Capital Programme: Sports Capital Programme (1 May 2012)

Michael Noonan: I propose to take Questions Nos. 162 and 181 together. Applications made under Section 67 of the Credit Institutions (Stabilisation) Act 2010 are considered on a case-by-case basis. I have received the submission referred to in this PQ and I expect to be able to make a determination on it shortly.

Written Answers — Tax Code: Tax Code (1 May 2012)

Michael Noonan: I propose to take Questions Nos. 163 and 182 together. The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. In Ireland the zero rate applies to printed books, including atlases, children's picture, drawing and colouring books and books of music. Under the EU VAT Directive, all digitised publications, regardless of their rate...

Written Answers — Tax Yield: Tax Yield (1 May 2012)

Michael Noonan: With regard to the VAT collected on electricity bills, I am informed by the Revenue Commissioners that as the information furnished on VAT returns does not require the yield for a particular sector or sub-sector of economic activity to be identified, the amount of VAT collected on electricity bills cannot be identified. In relation to the P.S.O. levy collected on electricity bills, I am...

Written Answers — EU Treaties: EU Treaties (1 May 2012)

Michael Noonan: I propose to take Questions Nos. 165 to 167, inclusive, together. It is the intention of the State to ratify the Stability Treaty (assuming its acceptance by the People in referendum on 31st May) and to ratify the ESM Treaty (assuming its approval by the Oireachtas in primary legislation). It is not the intention of the Government to rely on any interpretation of the articles in the...

Written Answers — EU Treaties: EU Treaties (1 May 2012)

Michael Noonan: On 25 March 2011, the European Council agreed to amend Article 136 of the Treaty on the Functioning of the European Union to insert the following text: '3. The Member States whose currency is the euro may establish a stability mechanism to be activated if indispensable to safeguard the stability of the euro area as a whole. The granting of any required financial assistance under the...

Written Answers — Tax Code: Tax Code (1 May 2012)

Michael Noonan: I assume that the Deputy's question relates to the double deduction for carbon tax on farm diesel which I introduced in Finance Act 2012. Under this provision, farmers will be allowed a deduction in computing their farming profits or losses for the amount of additional carbon tax they incur on purchases of farm diesel following the proposed increase in the rate of carbon tax on certain...

Written Answers — Tribunals of Inquiry: Tribunals of Inquiry (1 May 2012)

Michael Noonan: In response to the Deputy's question the Moriarty Tribunal made a number of observations and recommendations in relation to Financial Regulation.The report suggests that failures in regulation in the period concerned were related more to the attitude of the Regulator towards the regulated than any inadequacy in regulatory powers or the overall system then in place. This accords with the...

Written Answers — Tribunals of Inquiry: Tribunals of Inquiry (1 May 2012)

Michael Noonan: 1. The conduct of Guinness and Mahon Bank which gave rise to elements of the report (i.e. the operation of a tax avoidance scheme) failed to be regulated by the Central Bank under the last system but one (whereby there was a single Central Bank with regulatory functions). Since then the Central Bank and Financial Services Authority of Ireland (CBFSAI) was established in 2003 and abolished in 2010.

Written Answers — Tribunals of Inquiry: Tribunals of Inquiry (1 May 2012)

Michael Noonan: 2. Failures in regulation were related more to the attitude of the regulator towards the regulated than any inadequacy in regulatory powers.