Results 2,561-2,580 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Health and Safety Regulations (11 Oct 2016)

Michael Noonan: In response to the Deputy's question, I am advised by the Bodies under the Aegis of the Department of Finance of their approach, under the Safety, Health and Welfare at Work Act 2005, about this important matter. Due to the variety of bodies, in terms of the nature and range of their activities, the situation may differ between them with regard to...

Written Answers — Department of Finance: Departmental Agencies Staff Data (11 Oct 2016)

Michael Noonan: In response to the Deputy's question, I am advised by the 18 Bodies under the Aegis of the Department of Finance that none have given gifts or hospitality to employees to attend overseas sporting or musical events during 2015.

Written Answers — Department of Finance: Banking Sector (11 Oct 2016)

Michael Noonan: As the Deputy is aware, the Programme for Government contains a commitment to investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions.  Previously, in 2015, the Sparkassenstiftung für Internationale Kooperation (Savings Banks Foundation for International Cooperation - SBFIC), with the support of the Public Banking...

Written Answers — Department of Finance: Banking Sector (11 Oct 2016)

Michael Noonan: It would not be appropriate for me to comment in detail on media speculation concerning the performance of an individual foreign bank. However, I can assure the Deputy that both my Department and the Central Bank are monitoring the situation very closely in collaboration with our EU colleagues.  In that respect my Department is not aware of any material financial exposure...

Written Answers — Department of Finance: Tax Code (11 Oct 2016)

Michael Noonan: I am advised by Revenue that an easement is an asset for capital gains tax (CGT) purposes. The receipt by a person of a capital sum for an easement is a disposal which is liable to CGT at the rate of 33%. An exemption is available in respect of the first €1,270 of chargeable gains made by an individual in a tax year.

Written Answers — Department of Finance: Tax Code (11 Oct 2016)

Michael Noonan: I am advised by Revenue that capital gains tax (CGT) is charged on gains arising on the disposal of assets irrespective of whether or not there is a monetary gain accruing to the person making the disposal. In the case referred to by the Deputy, each brother is treated as disposing of his land to the other brother, the consideration being the land that is transferred to him by the other...

Written Answers — Department of Finance: Insurance Industry Regulation (11 Oct 2016)

Michael Noonan: The liquidation of an insurance company is a legally complex and time consuming process.  Setanta is a Maltese incorporated company and, therefore, the Setanta liquidation is being carried out under Maltese law. Progress in the liquidation of Setanta has been awaiting the outcome of legal proceedings in the case of the Law Society of Ireland v the Motor Insurers' Bureau of Ireland...

Written Answers — Department of Finance: Tax Code (11 Oct 2016)

Michael Noonan: I am advised by Revenue that gifts and inheritances of agricultural property, including land, qualify for relief (known as 'agricultural relief') from the payment of Capital Acquisitions Tax (CAT) once certain conditions are satisfied. Section 89 of the Capital Acquisitions Tax Consolidation Act (CATCA) 2003 provides for 'agricultural relief'. The relief takes the form of a 90% reduction in...

Written Answers — Department of Finance: Excise Duties Collection (11 Oct 2016)

Michael Noonan: I am advised by Revenue that the total amount of revenue from Excise and VAT on alcoholic drinks for the years 2010 to 2015 is as shown in the following table. Alcohol Excise VAT Total (Estimated) €m €m €m 2010 826.4 1,010.5 1,836.9 2011 829.5 1,014.0 1,843.5 2012 846.1 1,088.8 1,934.9 2013 1,002.0 980.8 1,982.8 2014 1,139.8 1,053.3 2,193.1 2015...

Written Answers — Department of Finance: Tax Collection (11 Oct 2016)

Michael Noonan: It is assumed that the Deputy's Question is referring to outcomes from the programme of compliance interventions conducted by the Revenue. I am advised that Revenue, generally, conducts compliance interventions based on a range of risk criteria in specific cases rather than by particular sectors or groups.  However, sectoral projects are initiated where Revenue wishes to examine...

Written Answers — Department of Finance: Stamp Duty (11 Oct 2016)

Michael Noonan: I am advised by Revenue that the pre-Budget 2017 Ready Reckoner is available on the Revenue Statistics webpage at: www.revenue.ie/en/about/statistics/index.html. While the Ready Reckoner changes for Stamp Duty do not show the specific rate increase requested by the Deputy, changes can be estimated broadly on a pro-rata or straight-line basis with those displayed in the Reckoner.

Written Answers — Department of Finance: Banking Sector Regulation (11 Oct 2016)

Michael Noonan: The deputy will be aware that I in my role as the Minister for Finance, have no direct function in the relationship between the bank and its customers. Decisions taken by the bank in this regard are matters for the board and management of the institution. The Minister for Finance must ensure that the bank is run on a commercial, cost effective and independent basis...

Written Answers — Department of Finance: Departmental Correspondence (11 Oct 2016)

Michael Noonan: The correspondence in question has been forwarded by my Department to Revenue and I am informed by Revenue that they intend to issue a response in the coming week to my Department on the matters you have raised. I will revert to you on receipt of Revenue's response.

Written Answers — Department of Finance: VAT Yield (11 Oct 2016)

Michael Noonan: I propose to take Questions Nos. 98 and 100 together. VAT receipts at end-September 2016, were down €278 million (2.7%) against an ambitious target.  While retail sales have been strong in the year, with the volume of retail sales up 5.2% year-on-year, the increase in the value of retail sales is much more modest at 2.9% reflecting the fact that there is very little inflation...

Written Answers — Department of Finance: Stamp Duty (11 Oct 2016)

Michael Noonan: The position is that at end-September stamp duty receipts were down 13% or €110 million in year-on-year terms. However, it is important to point out that the year-on-year decrease is primarily due to the cessation of the pension levy (which accounted for €159 million of stamp duty receipts last year at end-September 2015) in December 2015.  Therefore, excluding the pension...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: I thank the Chairman. First, I would like to introduce the officials who are with me. They are all officials of the Department of Finance. On my left is Ms Ann Nolan, second secretary in the Department of Finance, and the two gentlemen accompanying me are Mr. Des Carville and Mr. Declan Reid. They are both attached to the share management unit of the Department of Finance and both have...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: Yes, that was in the first draft of the speech. All of the detail was checked. What happened was I received a call from Mr. Frank Daly who told me what had happened in the withdrawal of PIMCO. He also told me that the board was minded to proceed with the competition with the remaining interested parties but that he would consult Lazard first. About three or four days later it was...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: I am sorry, but we corrected it in the first instance. When scrutinising it subsequently, the original draft appeared, which is incorrect.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: Is that a question or an observation?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: No, the letter I received from the clerk came on Friday evening. I was indisposed at the time and I was discharged-----