Results 25,101-25,120 of 27,019 for speaker:Michael Noonan

Tax Reliefs (7 Jun 2011)

Michael Noonan: The Deputy will be aware that the Office of the Revenue Commissioners is the main source of statistics and data on tax incentives and expenditure. However, Revenue's primary functions are the administration of the tax system and the collection of tax. The extraction of statistical information flows from those primary functions. In Part 8 of its report the Commission on Taxation reviewed 115...

Tax Reliefs (7 Jun 2011)

Michael Noonan: At a level of principle there is merit in the Deputy's point. However, the primary purpose of the Revenue Commissioners is to collect tax. It is obviously very useful if they supply us with data so that when the Government makes decisions on the incidence of taxation it knows where to direct it. However, the Revenue has information on all principal tax reliefs and those for which it does...

Written Answers — National Asset Management Agency: National Asset Management Agency (2 Jun 2011)

Michael Noonan: NAMA has, in the first instance, acquired loans and it advises me that property or other assets securing these loans remain in the possession of debtors unless it takes enforcement action against them. I am informed that, under an initiative currently in preparation, NAMA will shortly include on its website a database of properties which are under the control of receivers appointed to...

Written Answers — Tax Code: Tax Code (2 Jun 2011)

Michael Noonan: The reduced rate of VAT of 9% from 1 July 2011 will apply to the restaurant and catering services that includes the eat-in meal sectors (coffee houses, fast food operators) and other operators providing similar services. The reduced rate will also apply to all hot take-away food. I am advised by the Revenue Commissioners that, while the measures are contained in the Finance (No. 2) Bill...

Written Answers — Tax Collection: Tax Collection (2 Jun 2011)

Michael Noonan: I am informed by Revenue that the person concerned has failed to meet the terms of a phased payment arrangement entered into in recent months with Revenue and is failing to meet current tax payment and filing obligations as they arise. The debt concerned is now the subject of active consideration for enforcement action by Revenue. The person concerned should immediately contact Revenue...

Written Answers — EU-IMF Fund: EU-IMF Fund (2 Jun 2011)

Michael Noonan: The Central Bank of Ireland has informed me that as part of the stress tests, it added two levels of conservatism to the calculated capital requirements thus creating a capital buffer. This was established to take into consideration the potential capital absorbing impact of certain matters falling outside the parameters of the stress test. This includes defaults falling outside the stress...

Written Answers — EU-IMF Fund: EU-IMF Fund (2 Jun 2011)

Michael Noonan: On the 17th of May last, in response to a similar Parliamentary Question from Deputy Finian McGrath, I pointed out that Ireland is not a member of the G7, and does not participate in its discussions. I therefore have no records of the matter raised in the question. I do understand that there have, from time to time, been discussions about Ireland among various parties. However, Ireland's...

Written Answers — EU-IMF Fund: EU-IMF Fund (2 Jun 2011)

Michael Noonan: It is the stated intention of the National Treasury Management Agency (NTMA) to return to sovereign debt markets as soon as market conditions permit. The steps necessary to enable such a return include resolution of the banking sector issues and continued progress in the reduction of the budget deficit in line with the targets agreed in the EU/IMF Programme of Financial Support, together...

Written Answers — EU-IMF Fund: EU-IMF Fund (2 Jun 2011)

Michael Noonan: I understand that the comments referred to in the question were made in relation to the likely funding transport infrastructure projects and were not about the EU/IMF Programme of financial support in general. Ireland's Programme is on track and we are doing what is necessary to restore our ability to fund ourselves. It is the stated intention of the National Treasury Management Agency...

Written Answers — EU-IMF Fund: EU-IMF Fund (2 Jun 2011)

Michael Noonan: The Central Bank has published the details of the sovereign exposures of the four domestic institutions subject to Prudential Capital Assessment Review (PCAR) 2011. In the following tables, sovereign exposures as at 31 December 2010 are set out based on the information available to the Central Bank. Sovereign exposures include, though are not limited to, the following categories of assets:...

Written Answers — EU-IMF Fund: EU-IMF Fund (2 Jun 2011)

Michael Noonan: I understand that the Deputy is referring to the amount of unguaranteed senior bonds in the covered institutions. The Central Bank of Ireland has advised me that the as at end May 2011, the total unguaranteed senior debt in the covered institutions is €35,938m of which €19,632m is unguaranteed senior secured and €16,306m is unguaranteed senior unsecured.

Written Answers — EU-IMF Fund: EU-IMF Fund (2 Jun 2011)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that the following Irish government bonds are due for repayment in the years 2011 to 2013: Bond Maturity Date Amount Outstanding (May 2011) 4% Treasury Bond 11 November 2011 €4,390.00 million 3.9% Treasury Bond 05 March 2012 €5,545.00 million 5.0% Treasury Bond 18 April 2013...

Written Answers — EU-IMF Fund: EU-IMF Fund (2 Jun 2011)

Michael Noonan: The Joint EU/IMF Programme of Financial Support for Ireland provides for a total financial package of €85 billion. Some €671⁄2 billion comes from the European funding facilities – the European Financial Stability Fund (EFSF) and the European Financial Stability Mechanism (EFSM) – bilateral loans from the UK, Sweden and Denmark and the International Monetary Fund's (IMF) Extended...

Written Answers — Debt Management Companies: Debt Management Companies (2 Jun 2011)

Michael Noonan: Some financial service providers, currently authorised by the Central Bank, provide debt advice to consumers, for example, mortgage brokers. Consumers can confirm whether or not a financial service provider is authorised by checking the Register of Financial Service Providers on the Central Bank's website. There are also companies offering debt management and debt counselling services...

Written Answers — Pension Provisions: Pension Provisions (2 Jun 2011)

Michael Noonan: I assume that what is being proposed in the details supplied with the Deputy's question is that the amount of the pension levy passed on to individuals over the period of the levy should be available to them as a credit against future income tax liabilities. The moneys to be raised from the pension fund levy will be used to pay for the reductions in VAT, PRSI and the air travel tax as well...

Written Answers — Departmental Staff: Departmental Staff (2 Jun 2011)

Michael Noonan: The numbers of public servants employed on a Ministerial Vote Group basis and by functional classification for the period Q4 2008 to Q1 2011, as reported to the Department of Public Expenditure & Reform, is presented in the following tables. Information on the contractual arrangement in place across the public service is not reported to the Department of Public Expenditure & Reform and...

Written Answers — Departmental Staff: Departmental Staff (2 Jun 2011)

Michael Noonan: The information reported to the Department of Public Expenditure & Reform indicates that 1,080 civil and public servants availed of the incentivised career break in 2009. The Government is committed to reducing public service numbers by up to 25,000 by 2015, subject to there being no compulsory redundancies and to the protection of front line services. The measures necessary to give effect...

Seanad: EU-IMF Programme (2 Jun 2011)

Michael Noonan: I thank Senator Thomas Byrne for raising this issue and giving me the opportunity to address the remarks made. I also thank him for his support and that of his party for the general thrust of Government policy on these matters. When commenting on financial market issues, it is important we are aware that what we say can be misunderstood for a variety of reasons. For this reason finance...

Written Answers — National Asset Management Agency: National Asset Management Agency (1 Jun 2011)

Michael Noonan: I propose to take Questions Nos. 79 and 81 together. Within the context of its commercial remit, NAMA has made it known that it is open to considering proposals aimed at contributing to broader social and economic objectives and facilitating public bodies. It has committed to giving first option to such bodies on the purchase of property which is within its control and which may be suitable...

Written Answers — Tax Collection: Tax Collection (1 Jun 2011)

Michael Noonan: The changes to stamp duty rates, reliefs and exemptions, brought into effect by the last Budget, apply to all instruments executed on or after 8 December 2010. Budget 2011 introduced transitional arrangements to be applied where, as a result of these changes, a taxpayer was disadvantaged compared to the stamp duty treatment applicable prior to 8 December 2010. However, the transitional...