Results 7,361-7,380 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (13 May 2015)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) was established in 2014 and has since signed funding deals, recruited staff, signed lending contracts with two banks and appointed a board of directors. Most importantly the SBCI commenced lending to businesses in the real economy through AIB and Bank of Ireland at the start of March 2015. SMEs have already begun to access SBCI funds to grow...

Written Answers — Department of Finance: Black Economy (13 May 2015)

Michael Noonan: My understanding of shadow economy (or black market) activity is that it is wide-ranging and it includes, not only illicit activity such as tobacco smuggling, oil laundering and counterfeiting, but also practices (much of which are facilitated within the cash economy) carried out by businesses such as suppressing sales and purchases, keeping cash payments 'off the books' and paying employees...

Written Answers — Department of Finance: Exchequer Deficit (13 May 2015)

Michael Noonan: I would point out that the Exchequer returns containing the information requested by the Deputy are available on my Department's website at the following link: However, the table below sets out the Exchequer Deficit, current receipts and current expenditure at end-April 2011 and at end-April 2015 respectively. Current Receipts, Current Expenditure and Exchequer Deficit: - End-April...

Written Answers — Department of Finance: Exchequer Deficit (13 May 2015)

Michael Noonan: I would point out that the Exchequer returns containing the information requested by the Deputy are available on my Department's website at the following link: The table below sets out the Exchequer Deficit, capital receipts and capital expenditure at end-April 2011 and at end-April 2015 respectively. Capital Receipts, Capital Expenditure and Exchequer Deficit: - End-April 2011...

Written Answers — Department of Finance: Exchequer Deficit (13 May 2015)

Michael Noonan: I would point out that the Exchequer returns containing the information requested by the Deputy are available on my Department's website at the following link: However, the tables below set out the position in terms of Exchequer Deficit and total tax revenues collected at end-April 2011 and at end-April 2015 respectively. Exchequer Deficit and Total Tax Revenue: - End-April 2011...

Written Answers — Department of Finance: Central Bank of Ireland Expenditure (13 May 2015)

Michael Noonan: As per the recently published Central Bank Annual Report 2014, the Central Bank outlines that in 2014 a total of 326 million banknotes were supplied by the Central Bank to the market, comprising 57 per cent new and 43 per cent re-issued banknotes. This was a 6 per cent reduction on the 345 million banknotes issued in 2013. Under the ECB pooled production arrangements, the Central...

Written Answers — Department of Finance: IBRC Operations (13 May 2015)

Michael Noonan: I propose to take Questions Nos. 71 and 72 together. The relationship framework in place between IBRC and the Minister for Finance recognised the separation of the Minister and the bank and limited the Minister's intervention in the conduct of bank business to that necessary to protect the public interest.   The bank Board retained full responsibility and authority for...

Written Answers — Department of Finance: Universal Social Charge Payments (13 May 2015)

Michael Noonan: I propose to take Questions Nos. 73 and 74 together. The 1.5% USC rate is applicable to the first €12,012 of an individual's income. Where an individual's total income for the year does not exceed €12,012, they are exempt from the Universal Social Charge (USC), thus there are no cases that only pay USC at the 1.5% rate. I am advised by the Revenue Commissioners that the...

Written Answers — Department of Finance: Consumer Protection (13 May 2015)

Michael Noonan: Borrowers whose loans are sold to unregulated entities will be protected by the Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 which is currently being drafted. The purpose of the Bill is to ensure that consumers retain the protections they had prior to the sale of their loan.  This Bill will require entities dealing with the consumer to be authorised by...

Written Answers — Department of Finance: Financial Services Regulation (13 May 2015)

Michael Noonan: I propose to take Questions Nos. 76 and 79 together. I am advised by the Central Bank that there are currently eleven payment institutions regulated by the Central Bank of Ireland in accordance with the European Communities (Payment Services) Regulations 2009, please see appendix 1 for further details. Furthermore, at the start of 2013 the Central Bank had three applications for authorisation...

Written Answers — Department of Finance: Property Tax Exemptions (13 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they do not capture details in relation to the category of damage certified per each individual exemption application and they are not therefore in a position to provide the level of detail requested by the Deputy. Since the introduction of LPT, over 2,000 applications for pyrite exemption have been received by Revenue. The exemption can...

Written Answers — Department of Finance: Vehicle Registration (13 May 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: Mortgage Interest Relief Expenditure (13 May 2015)

Michael Noonan: I propose to take Questions Nos. 80 to 82, inclusive, together. In relation to Question 18857/15, I am informed by the Revenue Commissioners that landlords may deduct interest on money borrowed to purchase, improve or repair residential property from the gross rent when computing their rental profits for tax purposes on that property. Interest can only be deducted during the period in which...

Written Answers — Department of Finance: Property Tax Yield (13 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a breakdown of Local Property Tax collected from landlords as requested by the Deputy is not available. The Deputy may be interested to note that general statistics on Local Property Tax are available on Revenue's website at .

Written Answers — Department of Finance: Banking Sector (13 May 2015)

Michael Noonan: I propose to take Questions Nos. 84 to 87, inclusive, together. I have stated on numerous occasions that it is Government policy that we will not remain a holder of our banking investments in the long term. Given our high debt to GDP ratio, we do not have the luxury of holding all of these investments indefinitely and I envisage receipts from the gradual sale...

Written Answers — Department of Finance: Tax Collection (13 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they have ascertained the position regarding the source of income of the person concerned and have made arrangements to provide a letter to him confirming that he has no liability to tax.

Written Answers — Department of Finance: Unfinished Housing Developments (12 May 2015)

Michael Noonan: Section 10 of the Finance (Local Property Tax) Act 2012 (as amended) provides for a number of exemptions from Local Property Tax (LPT).  These exemptions include any unfinished housing estates or portions of unfinished housing estates, which are prescribed (as unfinished) by the Minister for the Environment, Community and Local Government in Statutory Instrument (SI) No. 91 of 2013. The...

Written Answers — Department of Finance: Tribunals of Inquiry Recommendations (12 May 2015)

Michael Noonan: In response to the Deputy's question the Moriarty Tribunal made a number of recommendations which affected a number of Government Departments. As Minister for Finance I can only respond in relation to the recommendations made in relation to my own Department. The tribunal pointed out problems to be addressed in our system of financial regulation.  Poor supervision, an overly-deferential...

Written Answers — Department of Finance: Tax Credits (12 May 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that the person concerned has been granted the tax credits and reliefs in 2015 based on the married persons allowance and the Home Carers tax credit.  Depending on the level of income it can be more beneficial to opt for the increased standard rate band instead of the Home Carers tax credit and this appears to apply to the person...

Written Answers — Department of Finance: Mortgage Interest Relief Extension (12 May 2015)

Michael Noonan: The Deputy will be aware that mortgage interest relief has been abolished for homes purchased since 1 January 2013. Up until 2018 however, tax relief continues to be available for interest paid on all qualifying home loans taken out on or after 1 January 2004 and on or before 31 December 2012, regardless of whether the individuals concerned are first-time buyers or non-first-time buyers. ...