Results 7,161-7,180 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Motor Insurance Regulation (9 Jun 2015)

Michael Noonan: In my role as Minister for Finance I have responsibility for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland, as regulator, interfere in the pricing of insurance products. The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies...

Written Answers — Department of Finance: Mortgage Interest Rates (9 Jun 2015)

Michael Noonan: As the Deputy is aware, I met with senior management of Ireland's six main mortgage lenders on 19th and 21st May. The meetings focused on the mortgage market and specifically the comparatively high standard variable rates currently being charged by the banks. I outlined my view, that Standard Variable Rates being charged in the Irish market are too high.  There was...

Written Answers — Department of Finance: Redundancy Payments (9 Jun 2015)

Michael Noonan: I am informed by the Revenue Commissioners that all amounts paid to an employee by an employer in connection with an employment are fully liable to income tax and this includes any specific amounts, however described, in an employment contract. As such, where an employment contract provides specifically for the payment of a sum on termination of employment, such an amount is fully within...

Written Answers — Department of Finance: Pensions Levy (9 Jun 2015)

Michael Noonan: From the details supplied I take it the Deputy is referring to the Pension Fund Levy. The Pension Fund Levy is a stamp duty levy which applies to the market value, on the valuation date, of assets under management in pension funds and pension plans approved under Irish tax legislation (occupational pension schemes, Retirement Annuity Contracts and Personal Retirement Savings...

Written Answers — Department of Finance: NAMA Investment Funds (9 Jun 2015)

Michael Noonan: This response takes "the Special Purpose Vehicle" to be referring to National Asset Management Agency Investment Limited ('NAMAIL'), which was clarified with the Deputy's office in advance. The composition of the investment in the Special Purpose Vehicle, National Asset Management Agency Investment Limited ('NAMAIL'), is outlined in Note 1.1 to the NAMA Group Annual Report and Financial...

Written Answers — Department of Finance: NAMA Investment Funds (9 Jun 2015)

Michael Noonan: This response takes "the Special Purpose Vehicle" to be referring to National Asset Management Agency Investment Limited ('NAMAIL'), which was clarified with the Deputy's office in advance. I am informed that the annual return figures for the Special Purpose Vehicle, National Asset Management Agency Investment Limited ('NAMAIL'), are available in its annual financial statements. ...

Written Answers — Department of Finance: Tax Credits (9 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned made contact with them very recently.  Based on the information provided, the person's income is under the exemption limit for 2015. Consequently an amended certificate of tax credits issued to the person concerned granting the exemption.

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

Michael Noonan: I propose to take Questions Nos. 340 and 358 together. As the Deputy will be aware under the Relationship Frameworks the State does not intervene in the day to day operations of the banks or their management decisions regarding commercial matters and hence any discussions around outsourcing etc. are a matter for the bank, the staff and their union representatives. Notwithstanding...

Written Answers — Department of Finance: Tax Reliefs Eligibility (9 Jun 2015)

Michael Noonan: A wide range of property-based tax relief schemes were introduced up to the mid 2000s.  These included area-based tax incentives such as urban renewal, town renewal, rural renewal and the living over the shop schemes. While many important developments were encouraged by these schemes, independent reviews concluded that the tax costs of the initiatives were high relative to the...

Written Answers — Department of Finance: IBRC Operations (9 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 342, 354 and 356 together. I am informed that all dealings with IBRC customers, in the first instance, whether they were restructures or amendments to facilities, were dealt with by the respective relationship management team in IBRC. I am advised that in accordance with bank policies, particular dealings such as any change of interest rate on...

Written Answers — Department of Finance: Vehicle Registration (9 Jun 2015)

Michael Noonan: As the Deputy is aware, section 135D(4)(b) of the Finance Act 1992 currently provides that an administration charge of €500 is deducted from the amount of Vehicle Registration Tax (VRT) refunded upon the export of a passenger motor car under the VRT Export Repayment Scheme. The VRT Export Repayment Scheme was introduced in the Finance Act 2012 to provide for a repayment of VRT...

Written Answers — Department of Finance: Tax Collection (9 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they will make direct contact with the person concerned to discuss how the matter of clearing the tax liabilities of the person concerned can be progressed.

Written Answers — Department of Finance: Consumer Protection (9 Jun 2015)

Michael Noonan: The Electronic Money Directive 2009/110/EC was transposed into Irish law via the European Communities (Electronic Money) Regulations 2011 (S.I. No. 183 of 2011). These regulations deal with the taking up, pursuit and prudential supervision of electronic money institutions and the issuance and redeemability of electronic money. The Central Bank of Ireland are designated as the competent...

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

Michael Noonan: I am informed by the Revenue Commissioners that the salaries of retained firefighters are taxable and within the scope of the PAYE system. The Deputy's query with regard to the pension levy is a matter proper to the Department of Public Expenditure and Reform.  The query with regard to pension eligibility is a matter for the Department of the Environment,...

Written Answers — Department of Finance: Tax Yield (9 Jun 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the annual tax take from sectors to which Relevant Contracts Tax (RCT) is applicable (ie the 'Agriculture, forestry & fishing', 'Manufacturing' and 'Construction' sectors), in 2012 and 2013 (the latest year for which a sectoral breakdown is available) is €4,291 million and €4,104 million respectively. I am also advised by...

Written Answers — Department of Finance: Stability and Growth Pact (9 Jun 2015)

Michael Noonan: The Fiscal Assessment Report published by the Council last week, the eighth such report since its inception in 2011, is being considered by my officials. As with all their reports to date, the Fiscal Council has asserted its independence and produced some interesting pieces of analysis, not all of which I agree with.  As is normal, a comprehensive response to all of the pertinent...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (9 Jun 2015)

Michael Noonan: The Drivers and Passengers with Disabilities (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, assistance with fuel costs, and an exemption from Motor Tax. As the Deputy will be aware, to qualify for the Scheme, an applicant must...

Written Answers — Department of Finance: Home Renovation Incentive Scheme (9 Jun 2015)

Michael Noonan: As the Deputy is aware, the Home Renovation Incentive (HRI) was introduced in Budget 2014 and will run until the end of December this year. The incentive provides tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. In Budget 2015 I extended the scheme...

Written Answers — Department of Finance: Transatlantic Trade and Investment Partnership (9 Jun 2015)

Michael Noonan: The TTIP are negotiations between the US and the EU and, as the Deputy may be aware, on a domestic basis, our input is being led by the Minister for Jobs, Enterprise and Innovation and his department. My department contributes to the inter-departmental working group and has attended events and workshops organised by DJEI. To-date, the TTIP discussions have been...

Written Answers — Department of Finance: IBRC Liquidation (9 Jun 2015)

Michael Noonan: The Special Liquidators have an ongoing obligation to protect customer information and other information of IBRC and to prevent its unauthorised dissemination or use. I am informed that the Special Liquidators are following a definite line of inquiry concerning the removal of documents and the leaking of information about a specific customer account from IBRC. The Special Liquidators have...