Results 21,781-21,800 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (29 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that a tax clearance certificate will normally be issued to a person if he/she has made all of the required tax returns to Revenue and has paid all tax known to be due or agreed a payment schedule in respect of such tax debts. If and when a further tax liability is identified or arises, there is no provision to exempt taxpayers from such liabilities...

Written Answers — Ministerial Travel: Ministerial Travel (29 Mar 2012)

Michael Noonan: The only cost incurred by my Department in respect of the visit to Paris was the cost of the flights for myself and the official who accompanied me, which amounted to €978 including taxes and charges. In order to reduce the costs of the visit the official and I stayed in the Ambassador's residence in Paris. The costs arising in Paris in relation to the trip were met from the existing...

Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (29 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that there has been ongoing correspondence with the tax agent representing the person concerned about this matter. The position is that credit for foreign tax paid is granted at the end of the relevant tax year, following receipt of the appropriate documentation from the foreign tax authority. However, as the person in question is suffering...

Written Answers — Tax Yield: Tax Yield (29 Mar 2012)

Michael Noonan: The position is that both income tax and Universal Social Charge (USC) are chargeable where a permanently incapacitated minor child is in receipt of income by virtue of a deed of covenant from a person who is not his or her parent. The income is chargeable to tax and USC in the hands of the recipient. I am informed by the Revenue Commissioners that information on the yield of USC from the...

Written Answers — Sectoral Incomes: Sectoral Incomes (29 Mar 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information available on the amount of gross income earned by the restaurant sector is based on personal income tax returns filed by non-PAYE taxpayers and information on profits derived from corporation tax returns for the years 2008 and 2009. The tax year 2009 is the latest year for which the necessary detailed information is...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Mar 2012)

Michael Noonan: Notwithstanding the State's shareholding in the bank, Bank of Ireland operates in an arm's length capacity from the State in relation to commercial issues. It is a matter for the board and management to determine and implement operational policy in their organisation. Therefore, commercial decisions in relation to Bank of Ireland are solely a decision for the bank.

Written Answers — State Banking Sector: State Banking Sector (29 Mar 2012)

Michael Noonan: The Bank has informed me that AIB is relocating operations from across Dublin to its Bankcentre in Ballsbridge in order to reduce costs. In anticipation of becoming a smaller organisation, in August 2011 AIB commenced a programme to withdraw from five leased locations and is currently adapting its Bankcentre in Ballsbridge to cater for the centralised functions. The bank has adopted a...

Written Answers — Tax Clearance Certificate: Tax Clearance Certificate (29 Mar 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that based on the details supplied the person is not liable to tax on her pensions. An amended tax credit certificate will issue to the person concerned and to their spouse's former employer over the next few days. All tax paid to date in 2012 will be refunded on the next pay date after receipt of the revised certificate.

Written Answers — Tax Code: Tax Code (29 Mar 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that Deposit Interest Retention Tax (DIRT) deducted for the years 2003 to 2006 inclusive has already been refunded to the person concerned during the years 2006, 2007 and 2008. The Revenue Commissioners will write to the person concerned shortly with full details.

Written Answers — Government Bonds: Government Bonds (29 Mar 2012)

Michael Noonan: As the Deputy is aware the Government is committed to reviewing the approach to the Promissory Notes with a view to reducing the overall cost to the State. The Troika have agreed to engage in a process with Irish Officials to produce a common paper which will consider all options for restructuring the notes in terms of the source of funding, the duration of the notes, the interest rate etc....

Written Answers — Government Bonds: Government Bonds (29 Mar 2012)

Michael Noonan: As the Deputy is aware the Government is committed to reviewing the approach to the Promissory Notes with a view to reducing the overall cost to the State. The Troika have agreed to engage in a process with Irish Officials to produce a common paper which will consider all options for restructuring the notes in terms of the source of funding, the duration of the notes, the interest rate etc....

Written Answers — Departmental Reports: Departmental Reports (29 Mar 2012)

Michael Noonan: In regard to the Internal Report, this is being prepared by management in my Department with the professional support of the Department's Internal Audit Unit. It is my understanding that this work is near completion following its circulation to relevant parties involved, who were given sufficient time to provide their final comments on it. Deloitte Consultants have been appointed to...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Mar 2012)

Michael Noonan: Notwithstanding the State's significant shareholding in the bank, AIB operates at arm's length from the State in relation to commercial issues. It is a matter for the individual board and management to determine and implement operational policy in their organisation. Therefore, such commercial matters are solely a decision for the bank. However, I would note that the merger of AIB and EBS...

Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (29 Mar 2012)

Michael Noonan: I provided the answers to the questions raised by the Deputy in my replies to Parliamentary Questions (refs: 7364/12 and 9897/12) of 9 and 22 February 2012 respectively. I would not consider it appropriate to publish incomplete interim data at this stage. I am not in a position to specify when the review will be completed. However, as I have stated previously, I fully recognise that there...

Written Answers — EU Funding: EU Funding (29 Mar 2012)

Michael Noonan: The Euro Area Heads of State or Government (HoSG) agreed on 21 July 2011 to reduce the cost of the European Financial Stability Facility (EFSF) to lending rates equivalent to those of the Balance of Payments facility close to, without going below, the EFSF funding cost. In addition, further amendments to the EFSF framework have removed the interest rate margin on EFSF funds and were...

Written Answers — Pension Provisions: Pension Provisions (29 Mar 2012)

Michael Noonan: I am advised by the Revenue Commissioners that deductions of income tax for 2012 continue to be made by relevant employers/pension providers in accordance with instructions issued to them in late December 2011 which would have taken account of up-to-date DSP pensions information supplied to the Commissioners by the DSP. In addition, the Commissioners advise that they have issued tax...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (29 Mar 2012)

Michael Noonan: The bank recapitalisation commitments made by the State to date are set out in the following table: €bn AIB/EBS BoI IL&P IBRC (Anglo/INBS) Total Government preference Shares (2009) - NPRF 3.5 3.5* - - 7.0 Capital contributions (with Promissory Notes as consideration) /Special Investment Shares (2010) – Exchequer ** 0.9 - - 30.7 31.6 Ordinary Share Capital (2009) – Exchequer - - -...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (29 Mar 2012)

Michael Noonan: The bank guarantee schemes to which the Deputy refers that have been in place since 2008 are the Credit Institutions Financial Support Scheme 2008 (CIFS Scheme), which was in operation between 30 September, 2008, and 29 September, 2010, and the Eligible Liabilities Guarantee Scheme (ELG Scheme) which came into operation on 9 December, 2009, and has a current issuance end date of 30 June,...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Mar 2012)

Michael Noonan: The Central Bank advise me that there has been no further developments of significance since this question was last responded to on 21st February, 2012. The Central Bank Reform Act 2010 provides for new powers to be exercised by the Bank to ensure the fitness and probity of nominees to key positions within financial service providers and of key office-holders within those providers. The new...

Written Answers — Credit Availability: Credit Availability (29 Mar 2012)

Michael Noonan: As the Deputy is aware, the Government has imposed lending targets on the two domestic pillar banks for the three calendar years, 2011 to 2013. Both banks were required to sanction lending of at least €3 billion in 2011, €3.5 billion this year and €4 billion in 2013 for new or increased credit facilities to SMEs. I can confirm to the Deputy that both banks have achieved their 2011...