Results 8,341-8,360 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: EU-IMF Programme of Support (12 Feb 2015)

Michael Noonan: I am advised by the National Treasury Management Agency (NTMA) that the position regarding the interest rate applying to each of the EU/IMF Programme loan facilities, as at 10 February 2015, is as set out in the table following.  Facility Loan Amount (bn) as at 10 Feb 2015 € Equivalent (bn) as at 10 Feb 2015 Interest Rate on Loan Amount Reference Rate Basis EFSM EUR 22.5 22.5...

Written Answers — Department of Finance: Tax Reliefs Cost (12 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the available information on the cost to the Exchequer of property-related tax schemes for the tax year 2013, the latest year for which this information is available, is provisionally estimated at €177 million. This information is based on tax returns of self-assessed individuals and companies. It should be noted that the...

Written Answers — Department of Finance: Tax Data (12 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the total identifiable costs to the Exchequer currently available relate to Income Tax and Corporation Tax allowances, reliefs, exemptions and tax credits for 2012 (the latest year for which figures are available). These cost estimates are published in the Costs of Credits, Allowances and Reliefs tables on the Revenue Statistics webpage...

Written Answers — Department of Finance: Corporation Tax (12 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that, based on provisional figures for 2014, the total Corporation Tax receipts from the financial and insurance activities sector was around €1,045 million. The estimated total PAYE and associated USC receipts from this sector was in the region of €2,010 million. These figures encompass both domestic and international financial and...

Written Answers — Department of Finance: General Government Debt (12 Feb 2015)

Michael Noonan: The increase in general government debt for the period December 2007 to December 2014 is projected to be €156 billion. The first official return for end 2014 will be made by the CSO in the Maastricht Returns at the end of March this year.  The Deputy should note that borrowing is not undertaken for any specific purposes but rather as the requirements for cash-flow...

Written Answers — Department of Finance: State Debt (12 Feb 2015)

Michael Noonan: The structural deficit for 2014 is estimated at 4.4% of GDP. This is based on applying the harmonised methodology for the calculation of potential output to Budget 2015 macro-fiscal projections. The structural deficit is calculated as the headline general government balance less the part of the deficit owing to the economic cycle. This is known as the 'cyclical budgetary...

Written Answers — Department of Finance: Corporate Governance (12 Feb 2015)

Michael Noonan: As the Deputy is aware, a number of reports were produced by Ernst and Young and McCann FitzGerald at the request of the INBS Board. Copies of all of these reports have been provided to the Central Bank of Ireland (CBI ) under the terms of a protocol for limited disclosure agreed between the parties to preserve legal privilege over the material. IBRC was prohibited from disclosing these...

Written Answers — Department of Finance: IBRC Operations (12 Feb 2015)

Michael Noonan: I am advised by the Special Liquidators that they are not obliged to produce a statement of affairs. However, under Section 306 of the Companies Act, the Special Liquidators are required to send to the registrar of companies a statement containing the prescribed particulars about the proceedings in and position of the liquidation of IBRC within 30 days after 2 years from the date IBRC was...

Written Answers — Department of Finance: Credit Unions Liabilities (12 Feb 2015)

Michael Noonan: In November 2013, on foot of a request from the Governor of the Central Bank, I agreed to the payment to permanent tsb (ptsb) of a financial incentive of up to €53.9m to support the transfer of Newbridge Credit Union Ltd - excluding the premises, to ptsb. The financial incentive consists of:- - €23m in cash up-front - €4.25m for restructuring and...

Written Answers — Department of Finance: Credit Unions Data (12 Feb 2015)

Michael Noonan: The imposition of lending restrictions is the responsibility of the Registrar of Credit Unions, who is the independent regulator for credit unions. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. As Minister for Finance, my...

Written Answers — Department of Finance: NAMA Expenditure (12 Feb 2015)

Michael Noonan: I am advised by NAMA that it has to date advanced €373m in vendor finance across six transactions involving the sale of commercial property securing its loans. These transactions have involved the sale of completed office and retail accommodation and therefore the Deputy's reference to housing units does not arise. NAMA advises that a number of positive market developments in the...

Written Answers — Department of Finance: Tax Code (12 Feb 2015)

Michael Noonan: The following provisions are due to expire at the end of 2015: Legislative Provision Brief Description Section 486C of the Taxes Consolidation Act 1997 This section provides relief from corporation tax for a company that commences a new qualifying trade, and the relief is available where the total corporation tax payable for an accounting period does not exceed €40,000.Marginal...

Written Answers — Department of Finance: National Pensions Reserve Fund Investments (12 Feb 2015)

Michael Noonan: Pursuant to the National Treasury Management Agency (Amendment) Act 2014 the Ireland Strategic Investment Fund (ISIF) was established (effective 22 December 2014). The ISIF will take over the assets of the National Pensions Reserve Fund (NPRF) which will be used for investment on a commercial basis to support economic activity and employment in Ireland. The National Treasury...

Written Answers — Department of Finance: Universal Social Charge Yield (11 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 40 to 42, inclusive, together. I am informed by the Revenue Commissioners that a breakdown of Universal Social Charge (USC) collected at each rate for the tax year 2012, the latest year for which data are available, is set out in the table below. USC Rate USC Collected (€m) 2% 360 4% 500 7% 2,880

Written Answers — Department of Finance: Tax Reliefs Application (11 Feb 2015)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 provides tax relief at a blended rate of 31% on donations made by individuals to eligible charities and other approved bodies. In order to qualify for the tax relief currently, a minimum donation of €250 per annum must be made to the body concerned.  As the Deputy may be aware, changes were made to the scheme of tax...

Written Answers — Department of Finance: NAMA Property Leases (11 Feb 2015)

Michael Noonan: As the Deputy will be aware, NAMA is not the owner or operator of properties.  NAMA's role is, like a bank, that of a secured lender.  Other than properties that have been enforced, all of which are listed on NAMA's website and which are managed by the appointed receivers/administrators, properties continue to be managed by their existing owners or their professional managers/agents...

Written Answers — Department of Finance: Consumer Protection (11 Feb 2015)

Michael Noonan: The Central Bank has informed me that it cannot comment on its engagement with individual entities. The Bank has also informed me that the company to which the question refers is not regulated by the Central Bank.  The Central Bank Act 1997 contains a number of exclusions from the requirement to be authorised by the Central Bank and firms that meet the relevant criteria can...

Written Answers — Department of Finance: Disabled Drivers Grant Appeals (11 Feb 2015)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and Vehicle Registration Tax (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, and exemption from motor tax in respect of that vehicle and, up to a certain limit, assistance in respect of fuel costs. To...

Written Answers — Department of Finance: Tax Code (11 Feb 2015)

Michael Noonan: I would advise the Deputy that unlike the Home Renovation Incentive that is currently in place, there were no specific tax incentives available for individuals who carried out home improvement works in 2012. However, Mortgage Interest Relief (MIR) is available in respect of interest paid on qualifying loans used to purchase, repair, develop or improve a home. In order for...

Written Answers — Department of Finance: Tax Rebates (11 Feb 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that they have contacted the person concerned to request Form P60 for 2014. On receipt of the form, a review of the individual s tax liability will be dealt with and a PAYE Balancing Statement (P21) will be issued.