Results 22,621-22,640 of 27,019 for speaker:Michael Noonan

Written Answers — Credit Availability: Credit Availability (31 Jan 2012)

Michael Noonan: As the Deputy is aware the Central Bank gathers and collates statistics on a wide range of Financial Services Sector activities on an on-going basis. As a general rule, my Department does not engage in a separate exercise to collect such statistics, but has access to and relies on statistics provided and published by the Central Bank. Data provided by the Central Bank indicates that the...

Written Answers — Tax Code: Tax Code (26 Jan 2012)

Michael Noonan: The position is that, in line with the commitment in the Programme for Government, there have been no changes in tax rates, no narrowing of tax bands and no reductions in personal tax credits in Budget 2012. I announced in Budget 2012 that the annual exemption level for the Universal Social Charge will be raised from €4,004 to €10,036 with effect from 1 January 2012. This measure...

Written Answers — Tax Collection: Tax Collection (26 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that, following receipt of updated information from the Department of Social Protection and also contact from the person in question that an amended certificate of tax credits issued to the taxpayer on the 13 January 2012. The tax due for 2012, which is estimated to be some €886, will be deducted from his occupational pension over the course of 2012.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (26 Jan 2012)

Michael Noonan: As I outlined previous in answers to Parliamentary Questions (22113/11 and 22117/11), the basis for stabilization of the Irish banking market is contained in my Statement on Banking of 31 March, 2011, where I set out Government policy in relation to the matters the Deputy has raised. A fundamental element of Government Strategy has been to restore a functioning banking system and the...

Written Answers — Tax Code: Tax Code (26 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that Section 88 of the VAT Consolidation Act 2010 provides for a scheme for travel agents known as the Travel Agents Margin Scheme (TAMS). The scheme deals with the activities carried on by travel agents who act in the capacity of a principal when supplying certain travel services such as transport, accommodation, etc, which they have bought in from...

Written Answers — Tax Code: Tax Code (26 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 58 and 59 together. The processing of applications for charitable tax exemption is a matter for the Revenue Commissioners. I am informed by Revenue that to avail of the exemption a body or trust must be established for charitable purposes only and must apply all its income for charitable purposes. Procedures are in place by Revenue towards ensuring that the...

Written Answers — Tax Code: Tax Code (26 Jan 2012)

Michael Noonan: The processing of applications for charitable tax exemption is a matter for the Revenue Commissioners. I am informed by Revenue that to avail of the exemption a body or trust must be established for charitable purposes only and must apply all its income for charitable purposes. Procedures are in place to ensure that the tax exemption is only granted to bodies that meet the necessary criteria...

Written Answers — Disabled Drivers: Disabled Drivers (26 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. An application for exemption...

Written Answers — Tax Collection: Tax Collection (26 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the €45m referred to in the 2012 Summary of Budget Measures represents an estimate of increased yield resulting from improved exchanges of information between Revenue and other Governmental Bodies and includes the receipt of additional data on long-term pension payments made by the Department of Social Protection. These long-term pension...

Written Answers — Tax Reliefs: Tax Reliefs (26 Jan 2012)

Michael Noonan: The position is that the legislation setting out the detail of the proposed new 30% rate of mortgage interest relief announced in my Budget speech will be published in the forthcoming Finance Bill. However, the new rate of relief will be available only to individuals who took out their first mortgage in the period 2004 to 2008, and where such homes are the sole or main residence of the...

Written Answers — Tax Reliefs: Tax Reliefs (26 Jan 2012)

Michael Noonan: As the Deputy is aware the Programme for Government contained a very specific commitment to examine a proposal to increase mortgage interest relief to 30% for first time buyers who bought between 2004 and 2008. In Budget 2012, this commitment was fulfilled. It is not my intention to widen the parameters of the commitment contained in the Programme for Government.

Written Answers — Tax Collection: Tax Collection (26 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that an amended Tax Credit Certificate correcting certain matters raised by the Deputy in relation to the person concerned issued on 4th January 2012. Further adjustments may be necessary when the second matter referred to by the deputy is clarified. The person concerned needs to complete a Return of Income (Form 12) for 2011 so that Revenue can...

Written Answers — Mortgage Arrears: Mortgage Arrears (26 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 66, 75 and 81 together. Last October the Government published the Report of the Inter-Departmental Working Group on Mortgage Arrears and, as the Deputies are aware, the Report was subsequently the subject of an extensive Dáil debate. The implementation of the report's recommendations is a key part of the Government's ongoing efforts to tackle mortgage...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (26 Jan 2012)

Michael Noonan: The Central Bank have advised me that the current version of their Consumer Protection Code (2012) was finalised following extensive consultation. The Consumer Protection Code was originally introduced in 2006. The purpose of the Code is to strengthen protection for consumers by introducing clear conduct of business rules for all regulated entities in order to increase the standards of...

Written Answers — Tax Reliefs: Tax Reliefs (26 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners that, up to the tax year 2011, income tax relief is available for individuals who pay service charges to local authorities and other independent contractors. Qualifying charges include all service charges paid to: Ø local authorities for the provision of domestic water supply, domestic refuse collection or disposal, or domestic sewage disposal; Ø...

Written Answers — National Asset Management Agency: National Asset Management Agency (26 Jan 2012)

Michael Noonan: I am informed by NAMA that the procurement competition for appointment to a panel for the Provision of Credit Verification Services (Investigations) to the National Asset Management Agency (NAMA) was advertised on www.etenders.gov.ie on 28th September 2011 and subsequently in the Official Journal of the European Union (OJEU). The methodologies and award criteria used to select the advisers...

Written Answers — Tax Yield: Tax Yield (26 Jan 2012)

Michael Noonan: Savings Certificates and Savings Bonds are tax free to Irish residents. Interest is applied on these products at maturity, which is after five and a half years for Savings Certificates and after three years for Savings Bonds, or on encashment, which could be at any stage during the life of the product. Bringing the products within the Deposit Interest Retention Tax (DIRT) regime would lead...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (26 Jan 2012)

Michael Noonan: The Central Bank has informed me that any participation by Irish institutions in ECB operations is reflected in the Bank's monthly statistics publications which can be found at http://www.centralbank.ie/polstats/stats/cmab/Pages/Money%20 and%20Banking.aspx. Table A.4.2 Credit Institutions (Covered Group) - Aggregate Balance Sheet, incorporates Covered Banks' aggregate Borrowing from the...

Written Answers — Credit Availability: Credit Availability (26 Jan 2012)

Michael Noonan: The decision on whether or not to grant a loan to a borrower or to allow a borrower to switch to another mortgage account must remain a commercial decision for the lending institution concerned. It is important that each lending institution is allowed to assess properly and independently the risks that it is considering when deciding whether or not to approve a loan or to make adjustments to...

Written Answers — Universal Social Charge: Universal Social Charge (26 Jan 2012)

Michael Noonan: The Review of the Universal Social Charge was published on my Department's website on 23 January 2011. It can be obtained at www.finance.gov.ie.