Results 24,041-24,060 of 27,019 for speaker:Michael Noonan

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Sep 2011)

Michael Noonan: I have been informed by the Central Bank that its Consumer Protection Code applies to the regulated activities of all regulated entities operating in this State including: the services of all regulated entities operating in this State for which they require to be authorised by, or registered with, the Central Bank, and persons with an equivalent authorisation or registration in another...

Written Answers — Strategic Investment Fund: Strategic Investment Fund (27 Sep 2011)

Michael Noonan: As I said in a reply to a question from Deputy Ferris on 14 September last, ensuring that a strategic investment bank is operating in the domestic banking market, providing finance to large capital projects and acting as a conduit for venture capital as well as a lender to SMEs, is an objective in the Programme for Government. A comprehensive programme of bank recapitalisation and...

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: I have been advised by the Revenue Commissioners that, according to their records, no income tax was paid by the person concerned in 2008. Accordingly no refund is due for 2008.

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: It is a long established principle in tax case law that emoluments from an employment are taxable in the year in which they are earned (and not necessarily assessable in the tax year in which such emoluments are paid). In addition to such principle, Section 112 Taxes Consolidation Act 1997 provides that where an individual receives emoluments from a former employer, such emoluments are...

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: It is a long established principle in tax case law that emoluments from an employment are taxable in the year in which they are earned (and not necessarily assessable in the tax year in which such emoluments are paid). In addition to such principle, Section 112 Taxes Consolidation Act 1997 provides that where an individual receives emoluments from a former employer, such emoluments are...

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Sep 2011)

Michael Noonan: The authorisation of credit institutions is a matter for the Central Bank of Ireland and, as such, applications for authorisation are not considered by the Minister for Finance. A full list of authorised credit institutions is published on the Central Bank's website at www.centralbank.ie.

Written Answers — Proposed Legislation: Proposed Legislation (27 Sep 2011)

Michael Noonan: Under the EU/IMF Programme, legislation is to be published by end-2011 to strengthen the regulatory framework for credit unions. The Government has established the Commission on Credit Unions to review the future of the credit union sector. In line with the Programme for Government, the Commission will review the future of the credit union movement and make recommendations in relation to...

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Sep 2011)

Michael Noonan: I have no role in relation to a dispute that arises between a consumer and his/her financial service provider. In relation to the case mentioned by the Deputy, I am aware that it was submitted to the Financial Services Ombudsman (FSO). The FSO is independent in the performance of his statutory duty. I cannot comment on any decision which he may have taken.

Written Answers — Departmental Staff: Departmental Staff (27 Sep 2011)

Michael Noonan: A number of employees in my Department will be required to retire in 2012 upon reaching their compulsory retirement age of 65 while others may retire upon reaching their minimum retirement age of 60 years of age or on actuarially reduced pension terms if they are within ten years of minimum retirement age. Since 11 July 2011, all staff in the civil service who intend to retire on or before...

Written Answers — Tax Evasion: Tax Evasion (27 Sep 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the Deputy and the Chairman of the Revenue Commissioners discussed this at the meeting of the Public Accounts Committee on the 22nd. September. While there is no one dedicated phone number, the Chairman outlined that people can, and do, advise Revenue of evidence of tax evasion through the network of local offices, by phone, email or letter....

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: As I explained in my speech introducing the "Jobs Initiative" in May last, the decision to fund the Initiative by way of a levy on pension funds over the 4 year period was taken because the alternatives for increases in taxation elsewhere at this time would be more damaging to the economy. I do not have any plans for alternative sources of revenue to fund the Jobs Initiative.

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: The issue of country-by-country reporting by Multinational Enterprises (MNEs) features prominently on the agenda of both the European Union and the OECD. In 2010, the EU Commission issued a Communication setting out a twelve point action plan in support of the Millennium Development Goals which inter alia called on Member States to facilitate ongoing research into country-by-country...

Written Answers — Enterprise Support Services: Enterprise Support Services (27 Sep 2011)

Michael Noonan: I have no plans at present to introduce a scheme of assistance similar to the one outlined by the Deputy in his question.

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: The termination of the tax exemption for royalty and other income arising from qualifying patents came into effect from 24 November 2010 at an estimated full year yield of €50 million. The decision to abolish the relief was taken in the light of a recommendation to this effect by the Commission on Taxation. As part of its review of all tax expenditures, the Commission on Taxation examined...

Written Answers — Tax Yield: Tax Yield (27 Sep 2011)

Michael Noonan: I am informed by the Revenue Commissioners that based on claims for capital allowances on the income tax returns and corporation tax returns for 2009, the latest year available, the notional cash flow saving to the Exchequer of limiting capital allowances available to business at €2 million in a tax year could be in the region of €1 billion if applied to all existing and new claims. ...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (27 Sep 2011)

Michael Noonan: Ireland has a good cordial and professional relationship with both the ECB and the European Commission. The relationships are built on mutual trust, openness and a cooperative and collegiate approach to issues that arise. In relation to the Bank Guarantee I understand that in September 2008, the then Minister for Finance, after consulting with the Governor and the Regulatory Authority, had...

Written Answers — Departmental Bodies: Departmental Bodies (27 Sep 2011)

Michael Noonan: I am informed by NAMA that there are currently three secondees working on short-term assignments of less than 3-months duration in the Agency. It is NAMA's practice to use secondees only on short-term specialist assignments where this is the most cost-effective option available. One of the three is on secondment from the Housing and Sustainable Communities Agency examining NAMA's database...

Written Answers — Consultancy Contracts: Consultancy Contracts (27 Sep 2011)

Michael Noonan: The company referred to in the question was engaged on 16 May 2011 until 31 December 2011 as external adviser on bank restructuring, to ensure a timely, efficient and effective process, and to review the proposals for merger and integration. A fixed fee, including expenses, of €2.75m was agreed for the engagement. The company has carried out no work for the NTMA or the Department of Finance...

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: I am aware of the proposal to which the Deputy refers. Placing such a charge on mobile telephone masts could deter service providers from erecting new masts in areas where coverage is bad. Consideration would also have to be given to the possible impact within the communications sector and on our communications infrastructure of such a proposal. I have been informed by ComReg that there are...

Written Answers — Tax Yield: Tax Yield (27 Sep 2011)

Michael Noonan: I assume that the Deputy is referring to the employer PRSI charge on share based remuneration introduced by the previous Government, which I abolished as part of the recent Jobs Initiative. Following the announcement that I made on the 18 March 2011, which clarified that PRSI would only apply to share based remuneration that was subject to a written agreement entered into after 1 January...