Results 8,141-8,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Employment Data (26 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated number of income earners who are self-employed or proprietary directors and are not in receipt of the PAYE tax credit is 220,000 and 83,200 respectively. The number given for the self-employed relates to income earners whose main source of income is from non-PAYE sources. All figures above are estimates for 2015, using the...

Written Answers — Department of Finance: Pensions Levy (26 Feb 2015)

Michael Noonan: The pension fund levy was introduced in 2011 to fund the Jobs Initiative, which has been very successful in both helping to create and to maintain employment in this economy. The levy has applied at a rate of 0.6% for the years 2011 to 2013, at an aggregate rate of 0.75% for 2014 and will apply at a reduced rate of 0.15% for this year. In accordance with the provisions in section 125B of the...

Written Answers — Department of Finance: Departmental Strategies (26 Feb 2015)

Michael Noonan: In May 2014, the Government launched "Construction 2020" which set out a focused programme of action to deliver a strong, sustainable, well-financed, competitive and innovative approach to construction and housing.  The implementation of the strategy, which is overseen by the Department of An Taoiseach, sets out the relevant public bodies and other agencies that are involved in the...

Written Answers — Department of Finance: Mortgage Arrears Proposals (26 Feb 2015)

Michael Noonan: I have been informed that officials in my Department have met with representatives of the company (details supplied) in total on four occasions. On three of these occasions the meetings were between Department of Finance officials and representatives of the company (details supplied). On a fourth occasion the meeting was attended by Regina Doherty TD,...

Written Answers — Department of Finance: NAMA Debtor Agreements (26 Feb 2015)

Michael Noonan: NAMA is not aware of the scenario outlined by the Deputy.  I am advised by NAMA that it does not permit its funding or income from assets belonging to its debtors to be used for the discharge of unrelated third party expenses.   NAMA approves expenditure by debtors, including the retention of certain overhead costs from rental or other income generated by a debtor's assets,...

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

Michael Noonan: As Minister for Finance, my role 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: Mortgage Data (26 Feb 2015)

Michael Noonan: I am informed by the Central Bank of Ireland that where regulated financial institutions sell part, or all, of their mortgage book to another regulated financial institution, the same protections apply to borrowers, including the CCMA and the Consumer Protection Code. Any agent acting on behalf of a regulated lender must comply with the requirements of Irish financial services law and failure...

Written Answers — Department of Finance: Corporation Tax Regime (26 Feb 2015)

Michael Noonan: I can advise the deputy that neither I, nor my officials, have had discussions with Ministers or officials in the Stormont Executive in relation to the proposal to cut the corporate tax rate in Northern Ireland. Such an issue is a matter for the Stormont and UK Governments. While a formal assessment has not been carried out in relation to the possible impact of a cut in the...

Written Answers — Department of Finance: Bank Stress Tests (26 Feb 2015)

Michael Noonan: The Comprehensive Assessment Adverse Stress Test result announced in October 2014 identified a capital shortfall of €855 million. As a consequence the bank has submitted a Capital Plan to the SSM, which outlines how the bank intends to meet the capital shortfall.  Much of the shortfall has been met through performance in 2014 and deleverage of assets in 2014. The remaining...

Written Answers — Department of Finance: NAMA Debtors (26 Feb 2015)

Michael Noonan: NAMA originally paid €31.8 billion to acquire a €74 billion loan book, comprising of 779 debtor connections.  I am informed that as at 30 September 2014, in accordance with NAMA's most recent published accounts, the carrying value of NAMA's loans amounted to €14.6 billion, comprising of 670 debtor connections. Of the 109 debtor connections that have reached a final...

Written Answers — Department of Finance: House Prices (26 Feb 2015)

Michael Noonan: I am aware of recent price dynamics in the residential property prices in Dublin, which according to the CSO, have risen by 22 per cent in the 12 months to December 2014. However, in the last two months there are tentative indications of a moderation in price growth in Dublin; the monthly rate of property price growth was -0.1 per cent in November and was 0.3 per cent in December. This...

Written Answers — Department of Finance: Tax Reliefs Abolition (26 Feb 2015)

Michael Noonan: It is understood that the Deputy is referring to measures, introduced in section 17 of the Finance Act 2012, intended to reduce the legacy of property reliefs in line with Government policy to develop a fairer tax code.  These measures followed an Economic Impact Assessment undertaken by my Department of  provisions, introduced in Finance Act 2011,  which were never commenced...

Written Answers — Department of Finance: IBRC Operations (26 Feb 2015)

Michael Noonan: A copy of the Relationship Framework (including the Operational Protocol), which governed interactions between I, as Minister for Finance, and Irish Bank Resolution Corporation can be found on the Department of Finance website through the below link:  Paragraph 4 of the Operational Protocol for the Relationship Framework in respect of Irish Bank Resolution Corporation contains the...

Written Answers — Department of Finance: Cycle to Work Scheme Administration (25 Feb 2015)

Michael Noonan: The purpose of the cycle to work scheme is to encourage more employees to cycle to and from work, or between work places, thereby contributing to lowering carbon emissions, reducing traffic congestion and improving health and fitness levels. Under the scheme an employer may provide an employee with a bicycle and/or cycle safety equipment without the employee being liable for benefit-in-kind...

Written Answers — Department of Finance: Tax Rebates (25 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that Finance Act 2014 inserted a new section 266A into the Taxes Consolidation Act (TCA) 1997.  That section provides for a repayment of Deposit Interest Retention Tax (DIRT) on certain savings held by a qualifying first time purchaser prior to the purchase of a home, where that purchase is made between 14 October 2014 and 31 December 2017. A...

Written Answers — Department of Finance: Revenue Commissioners Investigations (25 Feb 2015)

Michael Noonan: My officials are in close contact with their counterparts in Revenue on this and all other relevant taxation issues and on that basis it is not necessary for me to request a report of the nature described by the Deputy. My replies to his other questions on this issue have set out in detail the Revenue actions taken. He will be aware that it is a longstanding convention that the Minister...

Written Answers — Department of Finance: Revenue Commissioners Investigations (25 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 79 to 81, inclusive, together. I am advised by the Revenue Commissioners that, in March 2010, they became aware of newspaper reports that the French authorities had come into possession of information in relation to bank accounts held with HSBC Bank, Geneva. Revenue wrote to the French authorities enquiring as to whether the data obtained by them contained...

Written Answers — Department of Finance: Tax Agreements (25 Feb 2015)

Michael Noonan: In other written answers to questions from the Deputy today I have outlined the Revenue Commissioners response to the HSBC revelations. As outlined in Ireland's Road Map for Tax Competitiveness, published with Budget 2015, Ireland is maintaining its commitment to ensuring an open and transparent tax regime. One of the key ways we are doing this is through our commitment to the...

Written Answers — Department of Finance: Public Sector Management Remuneration (25 Feb 2015)

Michael Noonan: The Revenue Commissioners have provided me with the following information in response to the Deputy's question: Table 1: Revenue Commissioners - Staff Earnings 2013 to 2015  2013 Salary Plan € 100 - 150 150 - 200 > 200 Secretary General 0 3 0 Assistant Secretary 15 0 0 Principal 45 0 0 Total 60 3 0 2014 - - ...

Written Answers — Department of Finance: Mortgage Interest Rates (25 Feb 2015)

Michael Noonan: As the Deputy is aware, neither the Central Bank nor I have any responsibility for any variation in the variable mortgage interest rate charged by regulated financial institutions.  The lending institutions in Ireland - including those in which the State has a significant shareholding - are independent commercial entities. I have no statutory role in relation to regulated...