Results 22,561-22,580 of 27,019 for speaker:Michael Noonan

Written Answers — National Asset Management Agency: National Asset Management Agency (31 Jan 2012)

Michael Noonan: I am informed by NAMA that the site in question is controlled jointly by NAMA and a non-NAMA bank. Any sale requires the joint agreement of the two lenders in question. The company in question had sought to purchase c. 50% of the site marketed for sale, and the view of the joint lenders was that this proposal significantly devalued the balance of the site. I am also informed that the company...

Written Answers — Disabled Drivers: Disabled Drivers (31 Jan 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. The legislation specifies that...

Written Answers — Departmental Correspondence: Departmental Correspondence (31 Jan 2012)

Michael Noonan: The Revenue Commissioners have asked me to advise you that details of the named individual's Old Age Pension were received from the Department of Social Protection and his Tax Credits 2012 were adjusted to facilitate the collection of tax on this income. The named individual called to his local Revenue office recently and his tax position was fully explained to him. If he has any further...

Written Answers — Tax Collection: Tax Collection (31 Jan 2012)

Michael Noonan: This is a matter for the Revenue Commissioners. I am advised by Revenue that the debt owed by the persons concerned was referred to the Sheriff when an arrangement for payment acceptable to Revenue was not agreed. The persons concerned are paying the debt owed to the Sheriff through an interim phased payment subsequently agreed with the Sheriff. This arrangement is due to be reviewed by the...

Written Answers — State Banking Sector: State Banking Sector (31 Jan 2012)

Michael Noonan: The administration expenses incurred by these financial institutions are a day-to-day operational matter for the board and management of those institutions and I have no function in the matter.

Written Answers — State Banking Sector: State Banking Sector (31 Jan 2012)

Michael Noonan: I have been informed by the Bank that it had a €1.25bn senior unsecured unguaranteed EMTN in issue, which matured on 25 January 2012. Securities such as this are freely tradeable once issued and therefore IBRC, the issuer, has no means of establishing the underlying ownership. These securities are publicly traded and dealt through market participants and settled by clearing house systems....

Written Answers — State Banking Sector: State Banking Sector (31 Jan 2012)

Michael Noonan: I can confirm that IBRC receives the majority of its funding from the Central Bank of Ireland via its emergency liquidity facility. As the Deputy will be aware, the latest published figures are set out in the bank's Interim Report for the six months ended 30 June 2011 which can be found at the following link: http://www.ibrc.ie/About_us/Financial_information/Latest_int...

Written Answers — State Banking Sector: State Banking Sector (31 Jan 2012)

Michael Noonan: I have not asked the Central Bank of Ireland to allow IBRC to delay repayments of the Emergency Liquidity Assistance (ELA) provided. The Deputy will be aware that while there is an implicit link between the current repayment schedule on the Promissory Note and ELA there is no specific repayment schedule, as such, in relation to ELA. Any discussions in relation to ELA would of necessity have...

Written Answers — State Banking Sector: State Banking Sector (31 Jan 2012)

Michael Noonan: The Government is currently in technical discussions with its European partners about restructuring the promissory notes held by IBRC. These promissory notes are funded by exceptional liquidity assistance, or ELA, provided by the Central Bank of Ireland (CBI). This ELA is itself funded by the CBI through Intra-Eurosystem liabilities and any repayments of ELA are used to reduce this liability...

Written Answers — State Banking Sector: State Banking Sector (31 Jan 2012)

Michael Noonan: Exceptional Liquidity Assistance or ELA is one of the ways that the Central Bank has responded to the financial crisis. This is distinct and separate from regular funding operations carried out for monetary policy implementation purposes through the ECB. A loan provided to a credit institution under ELA is granted against suitable collateral, where suitability is in line with unpublished...

Written Answers — Departmental Staff: Departmental Staff (31 Jan 2012)

Michael Noonan: In my Department, I understand that although the Secretary General's nominal salary is significantly higher than €200,000, he has gifted the excess to the state on a voluntary basis. The position of private secretary to the Minister is currently staffed in my Department by a civil servant at Administrative Officer level who receives an allowance of €20,685 per annum in respect of the...

Written Answers — Appointments to State Boards: Appointments to State Boards (31 Jan 2012)

Michael Noonan: In response to the Deputy's question the following appointments were made in respect of bodies under the aegis of my Department since March 2011. Fiscal Advisory Council The following people were appointed to the Fiscal Advisory Council: Mr Sebastian Barnes Professor Alan Barrett Dr Donal Donovan Professor John McHale, Chair Dr Roisin O'Sullivan As Minister for Finance I announced the...

Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (31 Jan 2012)

Michael Noonan: The person concerned called to the Revenue office in Cork in early January and was advised that he was exempt from tax. On a more detailed review, it now appears that this information was incorrect, and Revenue regrets any distress caused by the incorrect information. The most recent figures available to Revenue indicate that an occupational pension of approximately €25,000 was paid in...

Written Answers — Tax Collection: Tax Collection (31 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned is in receipt of an Occupational Pension and a pension from the Department of Social Protection which provide him a combined taxable income of approximately €40,000. Tax credits and reliefs have been applied to this income and a revised Tax Credit and Universal Social Charge Certificate issued to the persons concerned in...

Written Answers — State Banking Sector: State Banking Sector (31 Jan 2012)

Michael Noonan: The list of unsecured unguaranteed bonds due to be paid in 2012 and 2013 is set out in a table. As already indicated the bank has no means of establishing the underlying ownership of these securities which are freely tradeable once issued. These securities are publicly traded and dealt through market participants and settled by clearing house systems. An issuer does not have any access to...

Written Answers — State Banking Sector: State Banking Sector (31 Jan 2012)

Michael Noonan: As the Deputy is aware the bank has no means of establishing the underlying ownership of these securities which are freely tradeable once issued. These securities are publicly traded and dealt through market participants and settled by clearing house systems. An issuer does not have any access to the records of the clearing house. At maturity, the Bank will instruct its paying agent to...

Written Answers — Pension Provisions: Pension Provisions (31 Jan 2012)

Michael Noonan: Income tax relief at an individual's marginal tax rate is allowed (within limits) on contributions made to supplementary private pension arrangements, including personal pension plans and retirement annuity contracts. Investment growth in such pension arrangements approved by the Revenue Commissioners is also exempt from tax. The purpose of these various tax relief arrangements is to allow...

Written Answers — Government Bonds: Government Bonds (31 Jan 2012)

Michael Noonan: The information requested by the Deputy is set out in the table below. This information has been provided by the National Treasury Management Agency. Average Redemption Yield % (monthly Oct 2010 to Jan 2012*) Maturity Date Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 June-11 July-11 Aug-11 Sept-11 Oct-11 Nov-11 Dec-11 Jan-11 Mar-12 3.60 5.27 4.87 4.67 4.41 5.22 6.46 8.36...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (31 Jan 2012)

Michael Noonan: As the Deputy will be aware none of the institutions in receipt of State Aid has used State Funds directly to offset deficits in defined benefit pension schemes. This assurance, provided by the banks, would cover the direct transfer of funds provided in State Aid towards the reduction of deficits in the banks pension schemes. The institutions do contribute, as required by law and regulation,...

Written Answers — Disabled Drivers: Disabled Drivers (31 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that an authorised dealer is a person who is authorised under section 136 of the Finance Act 1992 (as amended) "to manufacture, distribute, deal in, deliver, store, repair or modify unregistered vehicles and to convert registered vehicles". Authorisation brings a number of responsibilities concerning the management and record keeping in relation to...