Results 5,981-6,000 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: EU Budget Contribution (29 Sep 2015)

Michael Noonan: Research conducted by inter alia the ESRI has highlighted the relatively recent phenomenon whereby a number of large multinational corporations have re-located their corporate headquarters to Ireland. Typically, this does not involve the shift of substantive activity to Ireland or liability for tax. However, it does mean that corporate income on worldwide activity is recorded as a credit (an...

Written Answers — Department of Finance: Credit Unions Services (29 Sep 2015)

Michael Noonan: Section 44 of the Credit Union Act, 1997 provides that a credit union may establish a special fund to be used by the credit union for social, cultural or charitable purposes by a resolution passed by a majority of its members present and voting at a general meeting. I have been informed by the Central Bank that where individual credit unions intend to establish such a fund, the Central...

Written Answers — Department of Finance: Universal Social Charge Yield (29 Sep 2015)

Michael Noonan: I propose to take Questions Nos. 237, 238, 281, 282 and 299 together. Regarding the question on the abolition of the Universal Social Charge (USC), I am informed by the Revenue Commissioners that the estimated first and full year costs of abolishing the USC for all income earners earning less than €70,000 per year are €1.86 billion and €2.52 billion respectively. ...

Written Answers — Department of Finance: Tax Exemptions (29 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a wide range of statistical information is now available on the Commissioners' statistics webpage at .  In relation to the Deputy's question, information on the annual cost of research and development tax allowances can be found at . The latest available figures are 2013 and the costs from 2010 are set out as follows: Year R&D...

Written Answers — Department of Finance: Credit Unions Services (29 Sep 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...

Written Answers — Department of Finance: Property Tax Exemptions (29 Sep 2015)

Michael Noonan: I propose to take Questions Nos. 241 and 242 together. I am advised by Revenue that unfinished housing estates or specific parts of housing estates that remain unfinished must be included in 'prescribed lists' that are approved by the Minister for the Environment, Community and Local Government (Statutory Instrument 91 of 2013) in order to qualify for any exemption or waiver from Local...

Written Answers — Department of Finance: Property Tax Application (29 Sep 2015)

Michael Noonan: I am advised by Revenue that the person in question is currently exempt from Local Property Tax (LPT) in accordance with Section 8 of the Finance (Local Property Tax) Act 2012 (as amended). The person's difficulty regarding her 'Property Identification' number arose because the conveyancing process between the original owner and herself in respect of LPT was not properly completed. Revenue...

Written Answers — Department of Finance: Property Tax Application (29 Sep 2015)

Michael Noonan: I am advised by Revenue that any property that is in use as, or that is suitable for use as, a dwelling house is subject to both the Household Charge (HHC) and Local Property Tax (LPT). Therefore, the condition of a property is not relevant where the property is actually occupied as a dwelling house. However, a property that is derelict to such an extent that it is not suitable for...

Written Answers — Department of Finance: Departmental Expenditure (29 Sep 2015)

Michael Noonan: I assume the Deputy is referring to the €0.4 billion PTSB and €1.6 billion AIB contingent convertible capital notes (CoCos) which were due for redemption in July 2016.  The redemption of the CoCos was provided for in the Exchequer estimates contained in the Stability Programme Update.  It should be noted that in the intervening period, PTSB repurchased the...

Written Answers — Department of Finance: NAMA Portfolio (29 Sep 2015)

Michael Noonan: I propose to take Questions Nos. 247 and 254 together. I am advised that, through the Department of the Environment, Community and Local Government and the Housing Agency, NAMA has made a total of 1,269 residential units available for social housing in Cork County and City.  Demand has been confirmed by the local authorities for 454 of these, of which 229 have been already delivered...

Written Answers — Department of Finance: Property Tax Exemptions (29 Sep 2015)

Michael Noonan: I am advised by Revenue that the Local Authority level breakdown of the 76 cases confirmed as exempt from Local Property Tax (LPT) on foot of 'significant pyritic damage' in the Parliamentary Question mentioned is set out in the following Table. Dún Laoghaire-Rathdown 35 Dublin City 22 Meath 9 Kildare 8 Offaly 2 Total 76

Written Answers — Department of Finance: Departmental Offices (29 Sep 2015)

Michael Noonan: The deployment of resources to its compliance and customer service programmes is a matter for the Revenue Commissioners. I am advised by Revenue that they offer a range of service channels which are adapted to meet the changing demands of taxpayers. Over the last number of years the provision of high quality self service, electronic and telephone service channels has resulted in reduced...

Written Answers — Department of Finance: Departmental Agencies Expenditure (29 Sep 2015)

Michael Noonan: The Ireland Strategic Investment Fund (ISIF) advise that Activate Capital opened for business on 1 September 2015 and will become operational during the fourth quarter of 2015.  As of today's date no capital has been drawn down, however, the company is currently in discussions with a number of developers on potential opportunities. As these discussions advance, the timeline for...

Written Answers — Department of Finance: Tax Exemptions (29 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the available information in respect of Dwelling House Exemptions from Capital Acquisitions Tax for relevant years is as shown in the following table. - 2008 2009 2010 2011 2012 2013 2014 Numbers availing of relief 460 574 440 566 501 541 616

Written Answers — Department of Finance: NAMA Receivers (29 Sep 2015)

Michael Noonan: NAMA Receivers are appointed contractually or by reference to the NAMA Act. Schedule 1 of the NAMA Act sets out the powers of Statutory Receivers. Where Receivers, whether appointed by NAMA or other creditor, seek vacant possession in advance of the sale of a residential property they are obliged to act fully in accordance with the statutory rights and other protections afforded to tenants...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (29 Sep 2015)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) was incorporated in September 2014 and since then the SBCI has made considerable progress in building relations with lending partners and in constructing the complex operational capability required to bring products to market. These include establishing operational capability with funders and lending partners, building internal systems and...

Written Answers — Department of Finance: EU Investigations (29 Sep 2015)

Michael Noonan: I propose to take Questions Nos. 255 and 276 together. Last year, 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...

Written Answers — Department of Finance: Financial Services Regulation (29 Sep 2015)

Michael Noonan: Firstly, as you know I have taken steps to ensure that banks provide real options for borrowers with high mortgage repayments.   To summarise actions taken to date, I requested a report from the Central Bank on the topic which was published in May. I also met with the six main mortgage lenders and outlined my view that the interest rates being charged to...

Written Answers — Department of Finance: NAMA Loan Book (29 Sep 2015)

Michael Noonan: I am advised that, at 31 March 2015, NAMA's carrying value of loans, net of  cumulative impairment provisions of €3.250bn, was €12.528 billion and the nominal amount of contractual par debt outstanding from NAMA debtors was €54.899 billion. This information and additional information on the value and performance of NAMA loans...

Written Answers — Department of Finance: Financial Services Regulation (29 Sep 2015)

Michael Noonan: I propose to take Questions Nos. 258 to 260, inclusive, together. Prior to 4 November 2014 the Central Bank of Ireland had overall responsibility for the authorisation and supervision of credit institutions operating in Ireland. Following the establishment of the Single Supervisory Mechanism (SSM) this changed with a number of supervisory responsibilities and decision making powers moving...