Results 22,721-22,740 of 27,019 for speaker:Michael Noonan

Written Answers — Departmental Communications: Departmental Communications (19 Jan 2012)

Michael Noonan: Communications between the Revenue Commissioners and members of the public are the responsibility of the Commissioners and they use a variety of methods and means to explain the many complexities of taxation. The Chairman of the Revenue Commissioners has already explained at the recent Joint Oireachtas Committee meeting that due to the short timeframe available to update the PAYE records of...

Written Answers — Illicit Trade in Tobacco: Illicit Trade in Tobacco (19 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax, and for tackling the illicit trade in cigarettes and tobacco, that the strategy employed by Revenue to tackle this illicit trade is multi-faceted. It includes ongoing analysis of the nature and extent of the problem, developing and sharing intelligence on a national, EU and...

Written Answers — Tax Collection: Tax Collection (19 Jan 2012)

Michael Noonan: Monies incorrectly paid into a taxpayer's bank account by Revenue would normally be as a result of an incorrect return filed by a taxpayer or a processing error by Revenue - each of these cases would be dealt with on a case-by-case basis. Revenue does not maintain a central record of these instances - therefore the information as requested by the Deputy is unavailable.

Written Answers — Tax Collection: Tax Collection (19 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that interest arises both in respect of late payment of tax and underpayment of tax – this would include interest that is part of a phased payment plan. In the year 2011, a total of €158.5m was charged in interest having regard to all of these circumstances. Penalties amounting to €32.34m arose during the course of audits in the same period.o

Written Answers — Tax Collection: Tax Collection (19 Jan 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that online payment methods are provided through the Revenue On Line Service (ROS). This is an internet facility that provides taxpayers with a secure and efficient facility to pay tax liabilities and file tax returns. The ROS facilities are available 24 hours a day, 7 days a week, 365 days a year. The three payment methods currently...

Written Answers — Tax Code: Tax Code (19 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that a revised Tax Credit and Universal Social Charge Certificate issued to the persons concerned on 13 January 2012. This revised Certificate, which included the tax exemption credit, adjusted the allocation of tax credits against the respective incomes of the persons concerned so as to maximize their benefit to the taxpayers. Revised...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (19 Jan 2012)

Michael Noonan: The lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. Ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of each lending institution, having due regard to their customers and the impact on...

Written Answers — Mortgage Assistance: Mortgage Assistance (19 Jan 2012)

Michael Noonan: I have no plans to introduce a general scheme to assist mortgage holders in negative equity. Trade down mortgages, in appropriate circumstances, were recommended in the report of the Inter-Departmental Mortgage Arrears Working Group. This Group reported in October 2011. In order to ensure that proposals in relation to such mortgages are consistent with the Central Bank's consumer...

Written Answers — Tax Collection: Tax Collection (19 Jan 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that there was a difference in the details received from the Department of Social Protection and their details on record in relation to the widowers' pension of the person concerned for 2012. Department of Social Protection Pension details were €11,611 and the Revenue Commissioners figures were €10,473. These details have now been updated...

Written Answers — Financial Services Regulation: Financial Services Regulation (19 Jan 2012)

Michael Noonan: The Central Bank Supervision and Enforcement Bill, which was published in July 2011, provides protections from civil liability and penalisation by employers for whistleblowers within the Financial Services Sector. The provisions are flexible enough to provide for protection outside the strict employer/employee context. The Bill also provides a mandatory disclosure regime for those performing...

Written Answers — EU-IMF Programme: EU-IMF Programme (19 Jan 2012)

Michael Noonan: On Monday January 16th 2012, Standard & Poor's (S&P) announced the downgrade of the EFSF long term rating to AA+. S&P's downgrade of EFSF's long term rating had been signalled in advance and was not a surprise. The financial markets have already priced in such a development for the EFSF. EFSF issuance has been pricing in line with French yields as opposed to German yields. The EFSF...

Written Answers — Tax Code: Tax Code (19 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 78 and 79 together. Ireland, as with other countries, has experienced an increase in the cost of petrol and auto-diesel. The increase in fuel prices is an international phenomenon. Fuel prices are 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...

Written Answers — EU-IMF Programme: EU-IMF Programme (19 Jan 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 — Banking Sector Remuneration: Banking Sector Remuneration (19 Jan 2012)

Michael Noonan: I have indicated to the Deputy, in response to his previous questions on the subject (refs. 27135/11 and 27578/11 of 4 October 2011) the review is presently being conducted by my Department. The respective covered institutions were contacted by the NTMA, on behalf of the Department, in late April 2011 to initiate the review. Detailed work on data collection with the covered institutions...

Written Answers — Disabled Drivers: Disabled Drivers (19 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 — Departmental Staff: Departmental Staff (19 Jan 2012)

Michael Noonan: My Department currently has 4 civil servants working in the Permanent Representation of Ireland to the European Union in Brussels in the following positions: * Financial Counsellor * Financial Services Attaché * Fiscal Attaché * Budget Attaché

Bond Redemption (19 Jan 2012)

Michael Noonan: I thank Deputy Mathews for raising this very important issue. The repayment of the bond in question is an obligation of the bank and will be repaid by the bank. It is important to be clear that it is the bank and not the Exchequer which will meet this obligation. The Government has committed to ensuring that there is no forced or coerced involvement by the private sector burden sharing on...

Bond Redemption (19 Jan 2012)

Michael Noonan: I do not disagree with Deputy Mathews' analysis. However, we are in a situation which we inherited from our predecessors, who entered into solemn and legally enforceable commitments in respect of Anglo Irish Bank, as it was then. Of course, Deputy Mathews is correct that we should do everything possible to reduce the debt burden on the taxpayers of Ireland and to enhance Ireland's capacity...

Written Answers — Fiscal Policy: Fiscal Policy (18 Jan 2012)

Michael Noonan: The Deputy is well aware of the Government's continued commitment to ensure that Ireland's corporate tax rate remains unchanged. I recently restated this position in my Budget 2012 speech. Under the Euro Plus Pact for Stronger Economic Policy co-ordination for Competitiveness and Convergence which was agreed at the European Council in March 2011, Ireland as well as those other Member...

Written Answers — Fiscal Policy: Fiscal Policy (18 Jan 2012)

Michael Noonan: As I have stated clearly in the past, if such a tax cannot be introduced on a global basis, I think it would be better if it were introduced on an EU-wide basis. This would prevent any distortion of activity within the Union. Our major concern is that, if an FTT is introduced, it could affect the financial services industry, especially in the IFSC, and lead to some activities moving abroad....