Results 6,561-6,580 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: EU-IMF Programme of Support (14 Jul 2015)

Michael Noonan: The first capital repayment on the loan to Greece, for €2,998,730.51, is scheduled for 15 June 2020. Thereafter capital repayments of €4,342,989.01 are scheduled to be repaid at three-monthly intervals, the first one scheduled for 15 September 2020 and the last one scheduled for 15 March 2040.  A final payment, of €1,344,258.73, is...

Written Answers — Department of Finance: Banking Sector Data (14 Jul 2015)

Michael Noonan: Section 72, F (No.2) Act 2013 inserted a new section 126AA into the Stamp Duties Consolidation Act 1999. The section, which  applies to holders of banking licences and building societies in 2011 that were obliged to collect and pay over more than €100,000 DIRT in that year, provides for a levy equal to 35% of the DIRT paid in 2011. The levy applies for a three year period covering...

Written Answers — Department of Finance: Tax Yield (14 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they regularly review the reasons for under- or over-performance of receipts across all taxes. On the basis of the evidence available, it would indicate that the over-performance recorded in corporation tax receipts to end-June 2015 is a result of a combination of reasons.  These include improved trading performance across a number of...

Written Answers — Department of Finance: Consultancy Contracts Expenditure (14 Jul 2015)

Michael Noonan: I have been informed by the Central Bank that it is not possible to compile this information in the format sought by the Deputy in the time available. The information will be made available to the Deputy as soon as it is available.

Written Answers — Department of Finance: Consultancy Contracts Expenditure (14 Jul 2015)

Michael Noonan: I am informed by the Central Bank that whilst the Bank would not necessarily have a direct role in relation to the appointments of receivers, liquidators and examiners of regulated financial entities, it is very much cognisant of all such activities as part of its supervisory role in relation to all regulated financial entities.

Written Answers — Department of Finance: Tax Code (14 Jul 2015)

Michael Noonan: The Deputy will be aware that one of the recommendations of the Agri-taxation Review intended to encourage more productive use of farmland is that stamp duty relief be given in relation to certain leases of farmland. Changes to the stamp duty provisions pertaining to farmland leasing provided for in the Finance Act 2014 are however subject to a commencement order pending State Aid...

Written Answers — Department of Finance: Pension Provisions (14 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 315 and 316 together. Flexible options at retirement (the so-called ARF option) are available in respect of all benefits from Defined Contribution (DC) retirement benefit schemes and other DC-based pension savings. Choices available to individuals (after taking the tax-free retirement lump sum) include the option to purchase an annuity with the remaining...

Written Answers — Department of Finance: Departmental Staff Data (14 Jul 2015)

Michael Noonan: I wish to inform the Deputy that the current average age of permanent staff employed within my Department at end June 2015 was 43.6. The average age of staff in 2008 and 2011 is contained in the following table. Year Average Age 2008 44.5 2011 44.6 2015 43.6 From 2012 to 2014 the Department has recruited 87 staff with specific high level qualifications and experience. To date in 2015 26...

Written Answers — Department of Finance: Tax Code (9 Jul 2015)

Michael Noonan: The legal basis for the operation of the Pay As You Earn (PAYE) system by employers is the Income Tax (Employments) (Consolidated) Regulations, 2001. Regulation 20 provides that an employer must issue a Form P45 immediately an employee ceases employment. Section 987 of the Taxes Consolidation Acts 1997 provides for a penalty of €4,000 where an employer fails to issue a P45.   If...

Written Answers — Department of Finance: Tax Code (9 Jul 2015)

Michael Noonan: I have no plans to extend the rent-a-room scheme to include guest accommodation lettings under AirBnB. The rent-a-room scheme is intended to increase the supply of rental accommodation by incentivising homeowners to rent out rooms in their principal primary residences to individuals on a residential basis. A copy of an e-brief in relation to the interaction between AirBnB and rent-a-room...

Written Answers — Department of Finance: Tax Code (9 Jul 2015)

Michael Noonan: The system of individualisation has been in the tax code since 1999. It is my view that individualisation has now bedded into the tax system to a degree where it cannot be changed easily, and there are no plans to do so. To complete or to reverse individualisation would cost in the region of €800 million. The issue of tax individualisation was considered by the Commission on...

Written Answers — Department of Finance: Banking Sector (9 Jul 2015)

Michael Noonan: Anglo Irish Bank Corporation Ltd and each subsidiary of Anglo Irish Bank Corporation Ltd were designated as a participating institution under the NAMA 2009 Act by the then Minister for Finance in February 2010. I am advised that  as part of the acquisition process NAMA acquired eligible bank assets from the PI and bank assets from within the private banking unit of Anglo Irish Bank...

Written Answers — Department of Finance: Price Inflation (9 Jul 2015)

Michael Noonan: The annual increase in the price of the most popular price category (MPPC) of 20 cigarettes for the years 2004 to 2014, together with the percentage increase, is shown in the following table. Please note that all figures are shown in cents. The same information is not available for a pack of roll your own tobacco. Budget Changes and Trade Increases Expressed in Cents Year MPPC Budget...

Written Answers — Department of Finance: Eurozone Crisis (9 Jul 2015)

Michael Noonan: As I have outlined previously, there are no plans to organise a Debt Conference.  Issues related to public debt in the euro area Member States are dealt with in the context of the Eurogroup - the Finance Ministers of the democratically-elected Governments of the euro area Member States.  The Heads of State or Government of the euro area Member States can also have a role. ...

Written Answers — Department of Finance: Eurozone Crisis (9 Jul 2015)

Michael Noonan: It is important to recognise that in relation to the burden of Greek debt significant concessions have already been granted.  In November 2012, for example, the Eurogroup agreed to a lowering by 100 basis points of the interest rate charged to Greece on the loans provided in the context of the Greek Loan Facility. An extension of maturity of the loans by 15 years was also decided. ...

Written Answers — Department of Finance: State Banking Sector (9 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 112 and 113 together. AIB is well on the road to recovery and officials in my department are working with AIB on reconfiguring its capital structure and setting out a path for the bank to begin to return capital to the State. Given the scale of the State's investment, amounting to some €20.8 billion, and the different financial instruments this...

Written Answers — Department of Finance: Tax Forms (9 Jul 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that P21 Forms (PAYE Balancing Statements) were previously issued to the person concerned for 2011 and 2012.  Arrangements have been made by Revenue to send a copy of those Forms to the person concerned. Revenue has written to the person concerned setting out the information required in order to review his tax affairs for 2013 and 2014...

Written Answers — Department of Finance: Eurozone Crisis (9 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 115 to 118, inclusive, together. The Government has noted the result of the referendum in Greece. The position of the Irish Government is that we will continue to engage in an effort to reach a successful outcome. Following the referendum, Finance Ministers of the euro area Member States (the Eurogroup) met in Brussels to take stock of developments, and...

Written Answers — Department of Finance: Tax Code (9 Jul 2015)

Michael Noonan: The UK company Standard Life plc, offered its shareholders the option of having return of value payments due to them treated as income or capital, with treatment as income being the default position in the absence of shareholders choosing an option within a specified time which has now elapsed. The Revenue Commissioners have informed me that, from an Irish tax perspective, the position is...

Written Answers — Department of Finance: NAMA Receivers (9 Jul 2015)

Michael Noonan: I have been advised by the National Asset Management Agency that in 2013 it made 101 appointments and selected 40 separate firms to execute these appointments; in 2014 it made 71 appointments and selected 33 separate firms to execute these appointments and to date in 2015 it has made 16 appointments and selected 9 separate firms for these appointments.