Results 21,501-21,520 of 27,019 for speaker:Michael Noonan

Written Answers — Tribunals of Inquiry: Tribunals of Inquiry (24 Apr 2012)

Michael Noonan: In response to the Deputy's question neither myself or officials of my Department have attended any meetings recently regarding recommendations in the Moriarty and Mahon Tribunal reports.

Written Answers — Tax Code: Tax Code (24 Apr 2012)

Michael Noonan: The VAT rating of goods and services is constrained by the requirements of EU VAT law with which Irish VAT law must comply. Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, currently 23%. Parts or accessories are also liable to VAT at the standard rate. There is no provision in VAT law that would make it possible to apply a reduced rate or...

Written Answers — Banking Sector Staff: Banking Sector Staff (24 Apr 2012)

Michael Noonan: The Deputy will be aware that AIB, as part of its announcement of 8th March 2012 of a voluntary severance programme, stated "as required under the bank's partnership principles with IBOA, a consultation process will begin immediately with trade union representatives." It went on to state that "AIB will not be making any further public comment until the consultation process with staff...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (24 Apr 2012)

Michael Noonan: The Central Bank has informed me that Chapter 9 of the Central Bank's Documentation on Monetary Policy Instruments and Procedures (2012) contains the specific legal agreements that must be signed by counterparties who wish to conduct certain Eurosystem credit operations. These include Master Repurchase Agreement for marketable assets, the Framework Agreement for the use of Mortgage Backed...

Written Answers — European Council Meetings: European Council Meetings (24 Apr 2012)

Michael Noonan: The Economic and Financial Affairs Council (Ecofin) usually meets monthly, although it can meet more frequently, if required. Formal Ecofin meetings are held in Brussels or Luxembourg; Informal Ecofin meetings are convened in the country holding the six-monthly Presidency (usually April and September). Separately to the Ecofin meetings, Eurogroup meetings usually take place on the evening...

Written Answers — Tax Code: Tax Code (24 Apr 2012)

Michael Noonan: I propose to take Questions Nos. 209 to 211, inclusive, together. I would refer the Deputy to Finance Act 2012. Sections 8 and 27 refer specifically to the measures relating to the R&D tax credit. Finance Bill 2012 provided for a number of changes to the R&D tax credit scheme as follows: Volume basis The first €100,000 of qualifying R&D expenditure will benefit from the 25% R&D tax credit...

Written Answers — Tax Code: Tax Code (24 Apr 2012)

Michael Noonan: I would refer the Deputy to Finance Act 2012. Section 45 refers specifically to the scheme which provides relief from corporation tax on the trading income and certain gains of new start-up companies in the first three years of trading. Finance Bill 2012 extended this scheme for the next three years to include start-up companies which commence a new trade in 2012, 2013 or 2014.

Written Answers — Tax Code: Tax Code (24 Apr 2012)

Michael Noonan: Section 12 of Finance Act 2012 provides for the Foreign Earnings Deduction (FED). The Act was signed into law by the President on 31 March 2012. An initial examination of the potential for extending this relief was undertaken as part of the preparations for the Finance Bill. However, I decided not to introduce such an extension pending an analysis of how the scheme beds down in practice. I...

Written Answers — Credit Availability: Credit Availability (24 Apr 2012)

Michael Noonan: The Minister for Small Business, Mr John Perry T.D., accompanied by the Secretary General from my Department, held a series of seven regional meetings around the country to discuss access to bank credit with key local stakeholders. I attended the meeting with stakeholders in Limerick. These meetings explored the findings of the Mazars survey on credit demand published by my Department late...

Written Answers — Job Creation: Job Creation (24 Apr 2012)

Michael Noonan: I would refer the Deputy to the Explanatory Memorandum that was published with the Finance Bill – it contains information on each section of the Bill. In relation specifically to the measures to support the international financial services industry, there were 13 sections in the Bill containing 21 individual measures – sections 31-35, 37, 39, 41, 42, 47, 52, 100 & 101. The package of...

Written Answers — Tax Code: Tax Code (24 Apr 2012)

Michael Noonan: Section 14 of Finance Act 2012 provides for the Special Assignee Relief Programme (SARP). The Act was signed into law by the President on 31 March 2012. The programme provides for an exemption from income tax on 30% of salary between €75,000 and €500,000 for employees that are assigned for a minimum of 1 year. The exemption is available for a maximum of 5 years. The scheme will operate...

Written Answers — State Banking Sector: State Banking Sector (24 Apr 2012)

Michael Noonan: As part of the recent Memorandum of Understanding ('MOU') dated 10 February 2012 with our External Partners, it was agreed that the authorities will make a decision on the proposed way ahead for the company by the end of April 2012. Much work has been completed by the new management in Permanent TSB and officials in my Department to develop this strategy for discussion with the Troika over...

Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (24 Apr 2012)

Michael Noonan: The present agreements underpinning the State's investment in the covered institutions contain prohibitions on the payment of bonuses. This is the current position on the issue. The Deputy will be aware that we recently published, as required under our Troika obligations, the respective relationship frameworks between the State and the banks. These documents stipulate, amongst other...

Written Answers — Tax Code: Tax Code (24 Apr 2012)

Michael Noonan: I am assuming that the reference in the Deputy's question to a "new rule" in relation to legal privilege and the Revenue Commissioners relates to aspects of the mandatory disclosure regime introduced in Finance Act 2010 and contained in Chapter 3 of Part 33 of the Taxes Consolidated Act 1997. I am advised by the Revenue Commissioners that the mandatory disclosure regime, broadly speaking,...

Written Answers — State Banking Sector: State Banking Sector (24 Apr 2012)

Michael Noonan: The Government is acutely aware of the increasing financial stress that some households are facing in meeting their mortgage obligations. From a public policy perspective, the Government's approach to address this problem is to provide a framework that will be available to all mortgage holders experiencing genuine difficulty and not just those with mortgages from the covered banks. A number...

Written Answers — Tax Code: Tax Code (24 Apr 2012)

Michael Noonan: The carry-over effect into 2013 of the revenue measures introduced in Budget 2012 is estimated at €220 million. Therefore new revenue measures to be introduced for 2013 and to raise approximately €1 billion in 2013 will be required. This information is laid out on page D.17 of Budget 2012. The precise contribution from new revenue measures in 2013 that is required in order to adhere to...

Written Answers — Central Bank Investigations: Central Bank Investigations (24 Apr 2012)

Michael Noonan: In 2011, the Central Bank carried out an initial review of the suitability of sales of payment protection insurance to customers who took out loans to determine if the sales were in compliance with the requirements of the Consumer Protection Code. The Director for Consumer Protection in the Central Bank indicated that, arising from this initial review there were concerns in relation to...

Written Answers — Departmental Correspondence: Departmental Correspondence (24 Apr 2012)

Michael Noonan: Firstly, I wish to advise the Deputy that I receive many proposals on aspects of policy within the remit of my Department, all of which are examined by my officials. In relation to this particular proposal, I would remind the Deputy that the Relationship Frameworks with the banks provide that the State will not intervene in the day-to-day operations of the banks or their management decisions...

Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (24 Apr 2012)

Michael Noonan: I am advised by the Revenue Commissioners that a revised tax credit certificate issued to the person concerned in January 2012 and that the person concerned is in receipt of all their tax and universal charge entitlements.

Written Answers — Bank Charges: Bank Charges (24 Apr 2012)

Michael Noonan: I have been informed by the Central Bank there are three types of charges associated with credit cards: The 'acquiring bank' (on behalf of the credit card company e.g. Visa and Mastercard) charges the retailer a fee - these fees are subject to the provisions of section 149 of the Consumer Credit 1995, if the acquiring bank is a financial institution, · The 'issuing bank' (the issuer of...