Results 8,701-8,720 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Receivers (22 Jan 2015)

Michael Noonan: I am advised that NAMA is extremely proactive in ensuring value for money in the way in which it procures and manages receivership appointments.  Receivers have been appointed to NAMA's insolvency service provider panel following a competitive, fixed-fee public procurement process through which extremely competitive fee rates have been achieved relative to market norms.  All...

Written Answers — Department of Finance: NAMA Staff Numbers (22 Jan 2015)

Michael Noonan: Staffing levels at NAMA are determined by the NAMA Board with reference to the existing and projected future business needs of the Agency.  Based on its end-2016 80% senior debt redemption target and its ongoing ancillary funding and co-ordination role in the Dublin Dockland's Strategic Development Zone (SDZ) and in respect of residential development, the NAMA Board estimates that...

Written Answers — Department of Finance: NAMA Court Cases (22 Jan 2015)

Michael Noonan: I am advised by NAMA that it is currently involved in 174 active litigation cases, including 31 cases in which NAMA is the defendant and 143 cases initiated by NAMA.  Given that these cases are within the jurisdiction of the Courts, it would not be appropriate to make any further comment.

Written Answers — Department of Finance: IBRC Liquidation (22 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 67 and 68 together. As the Deputy is aware, the Special Liquidators have advertised for creditor claims and are currently adjudicating on creditor claims as they are being received. Irish and UK creditors have up until 31 March 2015 and US creditors have until 31 May 2015 to make a claim. Once all claims have been submitted, they will be reviewed in detail...

Written Answers — Department of Finance: EU Meetings (22 Jan 2015)

Michael Noonan: The issue of a European Debt Conference has not been formally discussed at an EU level.  My recent comments simply reflect my view that when countries have difficulties, a process of negotiation is always better than one of conflict.

Written Answers — Department of Finance: Financial Services Regulation (22 Jan 2015)

Michael Noonan: As the Deputy will be aware, in March 2013, the Central Bank published the Mortgage Arrears Resolution Targets (MART) framework, which set out performance targets for mortgage arrears resolution at six Irish mortgage lenders. The six lenders, Allied Irish Banks, Bank of Ireland, Permanent tsb, Ulster Bank, ACC Bank and KBC Bank are required to meet targets at quarterly intervals. The...

Written Answers — Department of Finance: Tax Collection (22 Jan 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the breakdown of numbers who paid Inheritance Tax in 2014, and other Capital Acquisitions Tax (primarily gift tax and discretionary trust tax), is as follows. These figures are provisional. Tax Numbers Paying Tax Average Tax Paid € Inheritance Tax 11,651 27,722 Other Capital Acquisitions Tax 1,252 26,661 Total 12,903 27,605

Written Answers — Department of Finance: Tax Collection (22 Jan 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a total of 19 persons made domicile levy payments in 2014 totalling €3,656,073. Some individuals' payments were for more than one year. An additional amount of €127,667 was collected in interest on late payment of the levy.

Written Answers — Department of Finance: Tax Reliefs Application (22 Jan 2015)

Michael Noonan: I am aware that the Department of the Environment and the PRTB have been examining the issue of the private rental market and looking at possible reforms for this sector. In 2014, the Private Residential Tenancies Board (PRTB) commissioned two research reports to explore the policy options required to ensure a sustainable private rented sector into the future. The main report, entitled...

Written Answers — Department of Finance: Pension Provisions (22 Jan 2015)

Michael Noonan: I take it that the Deputy is referring to the facility available under the Standard Fund Threshold (SFT) regime whereby individuals can seek a Personal Fund Threshold (PFT) in certain circumstances. The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes. Its purpose is to discourage over-funding and over-accrual of pension benefits through...

Written Answers — Department of Finance: Mortgage Lending (22 Jan 2015)

Michael Noonan: The consultation period regarding the macro-prudential policy for residential mortgage lending as set out in Consultation Paper CP87 concluded in early December.  I have now been informed by the Central Bank that it will publish the responses to this consultation paper and the final measures before the end of January 2015.

Written Answers — Department of Finance: NAMA Property Leases (22 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 76 and 77 together. As the Deputy is aware NAMA has acquired loans from the five participating institutions and is not the owner/operator of properties. The Agency's role is 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,...

Written Answers — Department of Finance: State Banking Sector (22 Jan 2015)

Michael Noonan: As the Deputy will be aware the Irish banking system is now in a much stronger position than it has been in recent years. Profitability is improving, balance sheets have been restructured and we have started the process of returning cash to the taxpayer following the huge investments that were made over the 2009-2011 period.  As I have previously stated it...

Written Answers — Department of Finance: Fuel Smuggling (22 Jan 2015)

Michael Noonan: The penalties for offences relating to fuel smuggling and laundering are laid down in section 119 of the Finance Act 2001 and section 102 of the Finance Act 1999. On conviction following summary prosecution under these provisions, a court may impose a fine of €5,000, or a term of imprisonment not exceeding 12 months, or both. Where a person is convicted for an indictable offence, the...

Written Answers — Department of Finance: Financial Services Ombudsman (22 Jan 2015)

Michael Noonan: As the Deputy states, under section 57BX(3)(b) of the Central Bank Act 1942, as amended, a consumer is not entitled to make a complaint to the Financial Services Ombudsman if the conduct complained of occurred more than six years before the complaint is made. As the Deputy may be aware, my Department is currently progressing the amalgamation of the Offices of both the Financial Services...

Written Answers — Department of Finance: Tax Rebates (22 Jan 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned e-mailed her local Revenue office on 8 January 2015 requesting clarification as to how she would go about making a claim for a tax refund in respect of 2014. A response issued on 19 January setting out the information required to establish her entitlement to a repayment of tax.  On receipt of the requested...

Written Answers — Department of Finance: Customs and Excise Controls (21 Jan 2015)

Michael Noonan: I propose to answer Questions Nos. 101 and 102 together. I am advised by the Revenue Commissioners that goods seized by them in the exercise of their statutory powers which are not returned to the person from whom they are seized may be disposed of by being sold or destroyed or, in the case of motor vehicles, by being allocated for use by the Revenue Commissioners, An Garda...

Written Answers — Department of Finance: Proposed Legislation (21 Jan 2015)

Michael Noonan: The Solvency II Directive represents a substantial overhaul of European insurance regulation. It sets out new, stronger EU-wide requirements on capital adequacy and risk management for insurers with the key aim of increasing policyholder protection. It is expected that this new regime should reduce the possibility of consumer loss or market disruption in insurance.  As...

Written Answers — Department of Finance: Tax Agreements (21 Jan 2015)

Michael Noonan: As has been outlined to this House before by my colleagues in Government, Ireland, along with all EU partners, adheres to the "One China" policy and as a result does not have diplomatic relations with Taiwan. This does not, however, preclude the development of economic and trade relations. Ireland, together with our EU partners, sees the benefit of encouraging trade with Taiwan and...

Written Answers — Department of Finance: Tax Exemptions (21 Jan 2015)

Michael Noonan: The latest information available regarding the Artists' Exemption scheme is for the year 2012, the last year for which returns have been filed and fully processed. In that year approximately 2,490 persons availed of the exemption in respect of income of €27.8 million at an estimated cost to the Exchequer of €4.8 million. It should be noted that the maximum amount of...