Results 4,221-4,240 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tobacco Smuggling (18 May 2016)

Michael Noonan: I am advised by Revenue that there were 40 convictions in respect of tobacco and cigarette smuggling in 2015. There were 8 convictions during the first 4 months of 2016. Currently, there are 81 tobacco and cigarette smuggling prosecution cases ongoing, at various stages in the prosecution process. Fines of €65,150 were imposed in 2015 for tobacco and cigarette smuggling, and...

Written Answers — Department of Finance: Tax Relief Application (18 May 2016)

Michael Noonan: The details of proposals for changes to this relief have not been finalised. They will be developed as part of the Budget and Finance Bill process and will be subject to Dáil scrutiny. It may be worth noting, however, that the relief as introduced in Finance Act 2015 is not restricted to new businesses.

Written Answers — Department of Finance: Fuel Traders Licences (18 May 2016)

Michael Noonan: I am informed by Revenue that the requirement that traders dealing in road fuels hold a licence has been in place many years and that an additional requirement for a licence for traders dealing in marked mineral oil was introduced in 2012. This new marked mineral oil licensing requirement was introduced in response to the threat posed to the exchequer and to legitimate business by fuel...

Written Answers — Department of Finance: Tax Forms (18 May 2016)

Michael Noonan: I am advised by Revenue that they do not issue or hold P60s for anyone. A P60 is issued by a person's employer at the end of each year. While Revenue does hold details of pay and tax as returned to them on the P35 Return from employers, I am advised that, in the case of the person concerned, Revenue has no such details as it appears the person concerned was self-employed. If the person...

Written Answers — Department of Finance: Pension Provisions (18 May 2016)

Michael Noonan: By way of background, an individual in a defined contribution pension savings arrangement (whether an occupational pension scheme or a personal pension) has the option of putting the funds accumulated under this arrangement into an Approved Retirement Fund (ARF) on retirement. Where such an individual is under the age of 75 at the time of exercising this option and does not meet the...

Written Answers — Department of Finance: Stability Programme Data (18 May 2016)

Michael Noonan: The Stability Programme Update (SPU), published last month following its submission to the European Commission, sets out my Department's assessment of the economic outlook to 2021 together with a detailed assessment of risks. My Department expects the economy to grow by 4.9 per cent this year, by 3.9 per cent next year and by 3.25 per cent on average over the remainder of the...

Written Answers — Department of Finance: Pension Provisions (18 May 2016)

Michael Noonan: Before Finance Act 1999 people with defined contribution pension savings had no option but to buy a pension income (called an annuity) with their savings after taking the allowable tax-free retirement lump sum. Changes since then have given people more choices for what to do with their pension savings. This is called the flexible options at retirement regime. These choices include taking a...

Written Answers — Department of Finance: Economic Growth (18 May 2016)

Michael Noonan: I propose to take Questions Nos. 47 and 53 together. In general, I am greatly encouraged by recent data illustrating the positive performance of the Irish economy. Ireland's recovery is now firmly established and the Irish economy is growing at the fastest rate in Europe - with growth of 7.8 per cent recorded in 2015. In the Stability Programme Update or SPU, published at the end...

Written Answers — Department of Finance: Loan Books Purchasers (18 May 2016)

Michael Noonan: The Deputy will be aware that the Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 was enacted on 8 July 2015. It was introduced to fill the consumer protection gap where loans were sold by the original lender to an unregulated firm. The 2015 Act introduced a regulatory regime for a new type of entity called a 'credit servicing firm'. Credit Servicing Firms are now...

Written Answers — Department of Finance: Construction Sector Strategy (18 May 2016)

Michael Noonan: The recovery in the economy and the increase in the number of people at work has significantly contributed to an increased level of demand for housing. While there is evidence of a pick-up in housing supply, it is still far from the level necessary to meet demand. From my perspective, a number of measures have been implemented to help address the underlying problems, either...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (18 May 2016)

Michael Noonan: I propose to take Questions Nos. 50 and 55 together. As the Deputy is aware, small and medium sized businesses play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy is focused on ensuring that all viable SMEs from every sector have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. Officials...

Written Answers — Department of Finance: Banking Sector (18 May 2016)

Michael Noonan: This Government is very committed to dealing with mortgage arrears and providing support for borrowers that find themselves in that situation. This is evidenced by the range of commitments contained in the Programme for A Partnership Government which will provide renewed impetus for dealing with the issue particularly for those borrowers in long-term arrears.   The...

Written Answers — Department of Finance: Fiscal Policy (18 May 2016)

Michael Noonan: It is a matter of choice for savers as to how they choose to save their personal funds.  At present, there are a wide variety of options, including commercial banks, credit unions, the post office, and other savings and investment products from which savers can select.  The State cannot dictate how savings are utilised but the NTMA through State Savings...

Written Answers — Department of Finance: Credit Availability (18 May 2016)

Michael Noonan: The Deputy will be aware that in my role as Minister for Finance I have no direct function in the relationship between the banks and their customers. I have no statutory function in relation to the banking decisions made by individual lending institutions at any particular time; these are taken by the board and management of the relevant institution. This includes decisions in relation to...

Written Answers — Department of Finance: Property Tax Administration (18 May 2016)

Michael Noonan: In his report on his review of the Local Property Tax which was published on Budget Day 2015, Dr Thornhill makes a number of recommendations. His central recommendation is for a revised system whereby a minimum level of LPT revenues in each local authority area would be determined by Government, ideally having regard to the apportionment between local authority areas of the historic yield....

Written Answers — Department of Finance: Financial Services Regulation (18 May 2016)

Michael Noonan: Irish law firms have a role in advising companies establishing themselves in this country on how to comply with Irish company law and financial regulatory requirements. I am not however in a position to comment upon their global standing or otherwise. The Panama papers contain a large volume of information about individuals, companies and firms around the world. My understanding is that...

Written Answers — Department of Finance: Departmental Functions (18 May 2016)

Michael Noonan: My Department facilitated the costings of certain proposals during the discussions with independent TDs and groups on the formation of Government. These costings, in the following table, were provided to the Department of an Taoiseach, which had overall responsibility for coordinating this exercise. INCOME TAX Full-Year cost Comments – Revenue & DoF A new provision whereby...

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (18 May 2016)

Michael Noonan: Employees assigned by the NTMA to NAMA are bound by a number of statutory obligations in respect of the confidentiality of information to which they have access by virtue of their employment by NAMA. These include obligations imposed under Section 14(1) of the National Treasury Management Agency Act 1990 and under Section 202 of the NAMA Act 2009. Staff assigned to NAMA are also subject to...

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (18 May 2016)

Michael Noonan: I propose to take Questions Nos. 61 to 63, inclusive, 69 and 70 together. NAMA notified the Data Protection Commissioner in Autumn 2012. I am advised that, following consultation with the Office of the Data Protection Commissioner, NAMA has followed best practice as set out in the Data Protection Commissioner's Code of Practice in respect of security breaches.   In addition to its...

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (18 May 2016)

Michael Noonan: I propose to take Questions Nos. 64 and 65 together. I am advised that, in September 2012, after reporting its concerns about alleged unauthorised data disclosure to An Garda Síochána, NAMA launched a major review conducted by Deloitte of data security and of data access within the Agency and of data transmission to external parties which had a business need to receive data...