Results 5,081-5,100 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Universal Social Charge Application (1 Dec 2015)

Michael Noonan: The Deputy may be aware that I brought forward amendments to Finance Bill 2015 at Report Stage in the Dáil to address this issue, whereby an employee may suffer a fall in net income in their last payment of the year in a 'week 53' or 'fortnight 27' year. These amendments were passed by the Dáil. USC rate bands for employees are divided equally across the year,...

Written Answers — Department of Finance: Departmental Legal Cases Data (1 Dec 2015)

Michael Noonan: It has not been possible in the time available to collate all of the information sought by the Deputy. However, the requested information will be collated and forwarded to the Deputy in writing.

Written Answers — Department of Finance: Credit Unions Restructuring (26 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 57, 58, 62 and 63 together. Section 57 of the Credit Union and Co-Operation with Overseas Regulators Act 2012 (2012 Act) provides for the establishment of the Credit Union Fund as a source of funding for restructuring and to meet the expenses of the Credit Union Restructuring Board (ReBo) in carrying out its functions under the 2012 Act. In...

Written Answers — Department of Finance: Pensions Data (26 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that while social welfare pensions can be separately identified from other sources of income in Revenue records, it is not possible to distinguish income of occupational pensions from those of PAYE employments. Consequently there is no complete or reliable basis available to Revenue on which to provide the breakdown sought by the Deputy of the number...

Written Answers — Department of Finance: Tax Code (26 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that Section 598 of the Taxes Consolidation Act 1997 grants Capital Gains Tax (CGT) retirement relief to individuals aged 55 or over  in respect of, among other things, the disposal ofland that has been let in certain circumstances. Land that has been let for up to 25 years in total ending with the disposal of that land will qualify for the...

Written Answers — Department of Finance: First-Time Buyers' Supports (26 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the only available support for first-time buyers is provided by section 266A of the Taxes Consolidation Act 1997 which provides for refunds of deposit interest retention tax (DIRT) to first-time buyers who purchase or self-build a property for occupation as their home. The property must be purchased or self-built between 14 October 2014 and 31...

Written Answers — Department of Finance: Credit Unions (26 Nov 2015)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions,...

Written Answers — Department of Finance: Property Tax Administration (26 Nov 2015)

Michael Noonan: I am advised by Revenue that the data-sharing at issue in the Bara case arose from the sharing between a Romanian Tax Authority and a Romanian Health Insurance Fund, both State bodies, of information - in breach of Article 10 of Directive 95/46 (paragraph 38 of the judgment). The argument made on behalf of the Romanian agencies, that the data-sharing was grounded in Article 315 of Law No....

Written Answers — Department of Finance: Property Tax Rate (26 Nov 2015)

Michael Noonan: In my Budget 2016 statement I announced that I would be making a proposal to Government to postpone the revaluation date for the Local Property Tax from 2016 to 2019.  Legislation to give effect to this announcement is currently being prepared and I hope to introduce it to the Houses of the Oireachtas shortly. I am aware of commentary that the deferral of the revaluation date...

Written Answers — Department of Finance: Central Bank of Ireland (26 Nov 2015)

Michael Noonan: Firstly, I should inform the Deputy that under the Central Bank Act 1942, the Treaty on the Functioning of the European Union and the Statute of the ESCB, save as may be required by the terms of the Financial Emergency Measures in the Public Interest (FEMPI) Acts 20092013 as stated below, the Government has no role in the setting of terms and conditions of employment in the Central...

Written Answers — Department of Finance: Motor Car Credit Market (26 Nov 2015)

Michael Noonan: I am informed by the Central Bank that it does not specifically monitor information on the motor trade or motor lending. However, as part of the Household Credit Market Report, the Central Bank monitor trends in consumer credit by focusing on developments in aggregate consumer credit series as well as considering the financial stability implications of these credit balances...

Written Answers — Department of Finance: Mortgage Lending (26 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 69 and 70 together. The Central Bank of Ireland, in line with its mandate to safeguard financial stability, has put in place macro-prudential measures for residential mortgage lending effective from last February.  These measures apply proportionate loan-to-value and loan-to-income limits to mortgage lending by regulated...

Written Answers — Department of Finance: State Aid Investigations (26 Nov 2015)

Michael Noonan: In 2013, the Competition Directorate of the European Commission announced their intention to open formal state aid investigations into tax rulings provided to a number of companies in various Member States of the European Union.  This announcement is part of a much wider review of tax ruling practice that is currently being undertaken by the European Commission and in 2014 the...

Written Answers — Department of Finance: Insurance Compensation Fund (26 Nov 2015)

Michael Noonan: I have been advised by the administrators of the company in question that the current estimated total cost to the Insurance Compensation Fund (ICF) is between €1.1 billion and €1.15 billion.  The establishment of the Insurance Compensation Fund is provided for by the Insurance Act 1964.  It applies to home, motor and commercial insurance.  The...

Written Answers — Department of Finance: Banking Licence Applications (26 Nov 2015)

Michael Noonan: The Central Bank has informed me that since 2011 the Central Bank of Ireland has received 2 applications for banking licences and granted both: - Dell Bank International Limited on 24 June 2013 - EBS Limited on its conversion from a Building Society on 1 July 2011.

Written Answers — Department of Finance: Tax Reliefs Data (26 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners it is estimated that the number of individuals availing of mortgage interest relief and the cost of this scheme in the years 2012, 2013 and 2014, the latest year for which data are available, is set out in the table below.  This information is on the basis of returns in respect of eligible tax relief at source accounts. Year Number of...

Written Answers — Department of Finance: Fuel Laundering (26 Nov 2015)

Michael Noonan: The Revenue Commissioners advise me that it is inherently difficult to estimate the extent of any illegal activity with confidence and it is not possible, therefore, to put a figure on the cost of diesel laundering to the Exchequer. However, the Commissioners recognised it as a significant problem from early 2011 and implemented a comprehensive strategy to tackle it, based on rigorous supply...

Written Answers — Department of Finance: Tax Data (26 Nov 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the Revenue statistics website, , includes detailed information for those tax expenditures where costs are available. These cost estimates are published in the Costs of Tax Expenditures (Credits, Allowances and Reliefs) tables on the website. Updates for later years will be published in due course. I am further advised that there are some...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (26 Nov 2015)

Michael Noonan: As the Deputy is aware, a number of reports were produced by Ernst and Young and McCann FitzGerald at the request of the Irish Nationwide Building Society Board in relation to governance matters in the former Irish Nationwide Building Society. Copies of all of these reports have been provided to the Central Bank of Ireland ( CBI ) under the terms of a protocol for limited disclosure agreed...

Written Answers — Department of Finance: Financial Services Regulation (26 Nov 2015)

Michael Noonan: The Central Bank has informed me that since the introduction of the Fitness and Probity Regime on 1 December 2011, the Central Bank has processed 11,936 pre-approval controlled function applications. 9,997 of these applications were approved, 1,391 were returned as incomplete submissions and 548 applications were withdrawn by either the applicant or proposing entity.