Results 8,661-8,680 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Legislative Measures (27 Jan 2015)

Michael Noonan: During last summer, my Department undertook a public consultation process in relation to the proposed legislation to protect consumers when loan books were sold. This consultation process highlighted an issue with a passive special purpose vehicle, SPV, which we had not intended to intend regulate, outsourcing servicing to a firm that would not be regulated. It became clear from the...

Written Answers — Department of Finance: Living City Initiative (27 Jan 2015)

Michael Noonan: Officials from my Department have held preliminary discussions with the relevant local authorities to identify the areas of the six cities, Cork, Dublin, Galway, Kilkenny, Limerick and Waterford, which might fall within the scope of the scheme. Each of the local authorities has now submitted proposals on the areas which it believes should be included. Further...

Written Answers — Department of Finance: Public Sector Staff Recruitment (27 Jan 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the temporary staff in question were recruited to carry out work associated with the introduction of Local Property Tax (LPT). The task of introducing this new tax, the largest extension of the self-assessment system in the history of the State, posed major administrative challenges. The staffing model for its introduction was built on flexible...

Written Answers — Department of Finance: NAMA Operations (27 Jan 2015)

Michael Noonan: I am advised by NAMA that it has an exposure through its loans to two of the five developments referenced in the Deputy's Parliamentary Question. NAMA advises that in both cases, the developments are managed by the Joint Fixed Charge Statutory Receivers. The Receivers are responsible for, inter alia, overseeing the sale of properties in accordance with NAMA's requirement that all such sales...

Written Answers — Department of Finance: Property Tax Data (27 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 195 and 196 together. The Revenue Commissioners have confirmed that the payment compliance rate for 2014 Local Property Tax (LPT) is approximately 95% at present.This includes applying mandatory deduction at source from salary or occupational pensions in relation to about 40,000 properties.   I am advised that those property owners who have been subject...

Written Answers — Department of Finance: State Banking Sector (27 Jan 2015)

Michael Noonan: In response to the Deputy's question, the following table details of the proceeds from the sale of the State's investments in the banks since 2012: Details of the proceeds from the sale of the State's investments in the banks since 2012 Date of disposal Bank Transaction Total proceedsincluding accrued interest/dividend 2012 no disposals January 2013 Bank of Ireland Sale...

Written Answers — Department of Finance: Bank Guarantee Scheme Fees (27 Jan 2015)

Michael Noonan: Fees paid by the covered institutions in respect of the ELG Scheme guarantee are paid quarterly in arrears and therefore there is a time lag before the fees are paid into the Exchequer (i.e. fees received as cash in Q1 of 2015 are in respect of fees accrued for Q4 of 2014). As the ELG Scheme came into operation on the 9th of December 2009 no fees were received into the...

Written Answers — Department of Finance: Public Sector Staff Recruitment (27 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 199 and 200 together. I am advised by the Revenue Commissioners that the temporary staff in question were recruited to carry out work associated with the introduction of Local Property Tax (LPT). The task of introducing this new tax, the largest extension of the self-assessment system in the history of the State, posed major administrative challenges....

Written Answers — Department of Finance: Tax Code (27 Jan 2015)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall name for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. I am informed by the Revenue Commissioners that, for the purposes of CAT, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the...

Written Answers — Department of Finance: NAMA Property Rental (27 Jan 2015)

Michael Noonan: NAMA's Guidance Note on Upwards Only Rent Reviews, which has been in place since December 2011, is available on the NAMA website, , and sets out for tenants both the process involved in making an application for rent abatement through a NAMA debtor or receiver and the financial information that must be submitted alongside such an application.  NAMA can only assess applications submitted...

Written Answers — Department of Finance: Tax Collection (27 Jan 2015)

Michael Noonan: I dealt comprehensively with the issue of profits and tax yields from the thoroughbred breeding industry in my replies to Questions 157 to 160 on 18 November last year and Question 177 on 9 December last. In these replies, I explained that there was a range of variables associated with the stallions industry and that profits from a number of activities within the thoroughbred breeding...

Written Answers — Department of Finance: VAT Rate Reductions (27 Jan 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the cost of lowering the reduced rate of VAT from 13.5% to 13% is estimated at €130m.

Written Answers — Department of Finance: Tax Rebates (27 Jan 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that the person concerned is a chargeable person for income tax purposes.  A tax return for 2013 has been received by Revenue and a refund issued to the person concerned in September 2014. On receipt of the 2014 tax return, the position will be reviewed and any tax and/or universal social charge (USC) overpaid will be refunded. The...

Written Answers — Department of Finance: Pension Provisions (27 Jan 2015)

Michael Noonan: A Personal Retirement Savings Account (PRSA) is an easy access private pension savings vehicle designed to allow individuals save for retirement flexibly. PRSAs may be taken out by anyone, regardless of employment status, are transferable from job to job and are available from a variety of authorized providers. However, they have particular relevance for those who are not members of...

Written Answers — Department of Finance: Bank Charges (27 Jan 2015)

Michael Noonan: The banks have been unable to provide the information as requested by the Deputy within the required timeframe as I understand that this data is not captured by the banks in the normal course of operations. However one bank, permanent tsb, has provided my Department with an estimate of the information requested which would indicate that the amount over the past five...

Written Answers — Department of Finance: Home Repossession Rate (27 Jan 2015)

Michael Noonan: The Central Bank's Residential Mortgage Arrears and Repossession Statistics for Quarter 3 of 2014 can be accessed at the following link: . I am very aware of this issue and a number of initiatives have been put in place to address it.  While the administration of the Courts is a matter for my colleague, the Minister for Justice and Equality,  it is important to note that...

Written Answers — Department of Finance: Pensions Levy (27 Jan 2015)

Michael Noonan: In the details supplied with the Deputy's question, I assume that the issues raised regarding private sector funded pensions are to do with the pension fund levy. I announced in my Budget 2014 speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 would be abolished from the 31st of December 2014. I did, however, introduce an additional levy on pension funds...

Written Answers — Department of Finance: Credit Register Administration (27 Jan 2015)

Michael Noonan: The Credit Reporting Act 2013 provides that the Central Bank is responsible for the establishment and operation of the central credit register (CCR). The Central Bank has informed me that it completed a public procurement process in 2014. The purpose of the process was to select a partner and solutions to support the CCR. The Bank is currently negotiating the final details...

Written Answers — Department of Finance: Tax Code (27 Jan 2015)

Michael Noonan: The Government's position is that a Financial Transactions Tax (FTT) would be best applied on a wide international basis to include the major financial centres to prevent the danger of activities gravitating to jurisdictions where taxes are not levied on financial transactions.  Notwithstanding this, the Government is not prepared to stand in the way of EU Member States that wish to work...

Written Answers — Department of Finance: Tax Code (27 Jan 2015)

Michael Noonan: I have no plans to introduce a tax along the lines suggested by the Deputy. Ireland was one of the first Member States to introduce a Carbon Tax on fossil fuels which as well as providing for much needed revenues also went some way towards addressing environmental concerns. The tax was introduced, at an initial rate of €15 per tonne of C02 emission, on a phased basis in Budget...