Results 8,741-8,760 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: IBRC Loans (20 Jan 2015)

Michael Noonan: Neither I, as Minister for Finance, nor the Special Liquidators of IBRC were involved in the decision(s) made by the Bankruptcy Trustee in respect of Mr Sean Quinn and therefore are unable to comment on same. Additionally, neither I, as Minister for Finance, nor the Special Liquidators of IBRC are in a position to comment on individual cases.

Written Answers — Department of Finance: Revenue Commissioners Powers (20 Jan 2015)

Michael Noonan: I assume that the Deputy's reference to blocking a person's current account relates to the use of Attachment Orders by Revenue. That being the case, the legal basis for the use of Attachment Orders is provided for by Section 1002 of the Taxes Consolidation Act 1997 (as amended). The Section gives Revenue the authority to instruct financial institutions to transfer funds, to the value of...

Written Answers — Department of Finance: Tax Rebates (20 Jan 2015)

Michael Noonan: I am advised by the Revenue Commissioners that their records indicate that the person concerned was last employed in 2011 and that during that year no tax or universal social charge was deducted from her wages. The Revenue Commissioners will write to the person concerned to establish her employment status and income since December 2011.

Written Answers — Department of Finance: Bank Debt Restructuring (20 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 248 and 249 together. Since 2008 burden sharing of c.€15bn has been achieved with holders of dated and undated subordinated bonds in the covered institutions. Unfortunately my Department has been unable to obtain the remainder of the information requested by the Deputy in the time available. I will write to the Deputy directly with the...

Written Answers — Department of Finance: Bank Guarantee Scheme Termination (20 Jan 2015)

Michael Noonan: Unfortunately my Department has been unable to obtain the information requested by the Deputy in the time available. I will write to the Deputy directly with the information as soon as it becomes available.

Written Answers — Department of Finance: Mortgage Interest Rates (20 Jan 2015)

Michael Noonan: Firstly, I must confirm to the Deputy that I have no 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 mortgage interest rates charged,...

Written Answers — Department of Finance: NAMA Portfolio (20 Jan 2015)

Michael Noonan: I am advised by NAMA that of the approximately 14,000 completed residential units currently within the Agency's portfolio, 86% are located in Dublin, the mid-east counties of Wicklow, Kildare, Meath and Louth, and the other main urban centres of Cork, Limerick and Galway.  A more detailed breakdown is set out below. Region Percentage Dublin 48 Mid-East (Wicklow, Kildare, Meath,...

Written Answers — Department of Finance: Tax Data (20 Jan 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the estimated cost to the Exchequer of the reduction in the 41% rate of Income Tax to 40% for income earners earning over €70,044 is in the order of €180 million. This cost includes the benefit these income earners get on all of their incomes liable to the higher rate and not just on the portion of their incomes above...

Written Answers — Department of Finance: Tax Rebates (20 Jan 2015)

Michael Noonan: I am advised by the Revenue Commissioners that there is provision for the refund of VAT incurred on qualifying goods for the exclusive use of disabled persons in the Value Added Tax (Refund of Tax) (No 15) Order 1981.  The order specifies the degree of disability and defines the qualifying goods as goods which are aids or appliances, including parts and accessories, specially constructed...

Written Answers — Department of Finance: EU Issues (20 Jan 2015)

Michael Noonan: The question assumes my support for a European debt conference. This does not represent my position.  My view is that when countries have difficulties, a process of negotiation is always better than one of conflict.

Customs Bill 2014: Order for Second Stage (15 Jan 2015)

Michael Noonan: I move: "That Second Stage be taken now."

Customs Bill 2014: Second Stage (15 Jan 2015)

Michael Noonan: I move: "That the Bill be now read a Second Time." The Customs Bill 2014 was published on 3 October 2014. The purpose of the Bill is to consolidate, revise and modernise Ireland's existing national customs legislation, some of which dates back to the Customs Consolidation Act 1876. The Bill can thus be seen as another significant milestone in Revenue's comprehensive programme of...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (15 Jan 2015)

Michael Noonan: The Special Liquidators confirm that all debts owing to Irish Bank Resolution Corporation Limited (in Special Liquidation) whilst under their remit, remain due and payable in accordance with their terms. I am advised that remaining mortgage holders with IBRC are permitted to buy-out their mortgage at par value and that there are no legislative barriers for such borrowers to do so. ...

Written Answers — Department of Finance: Bank Charges (15 Jan 2015)

Michael Noonan: While all credit institutions in Ireland are independent commercial entities and I have no statutory role in relation to the charges applied by credit institutions, section 149 of the Consumer Credit Act 1995 requires that credit institutions, prescribed credit institutions and bureaux de change must make a submission to the Central Bank if they wish to introduce any new...

Written Answers — Department of Finance: Fuel Laundering (15 Jan 2015)

Michael Noonan: I am informed by the Revenue Commissioners that they are aware of the threat posed by diesel laundering and have implemented a comprehensive strategy to tackle the problem.  This strategy includes the following elements: - The licensing regime for auto fuel traders was strengthened with effect from September 2011 to limit the ability of criminals to get laundered fuel onto the...

Written Answers — Department of Finance: Banks Recapitalisation (15 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. Profits are recovering, 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 2009-11 period.  The preliminary independent valuation of our...

Written Answers — Department of Finance: Tax Yield (15 Jan 2015)

Michael Noonan: I am informed by the Revenue Commissioners that there was no fall in Excise receipts in 2014 due to lower fuel prices. It should be noted that Excise is a fixed rate regardless of price.  I am also informed that the details on payments of VAT are not recorded in such a manner as would provide a basis for compiling the information sought by the Deputy. The following table is a summary of...

Written Answers — Department of Finance: Economic Growth (15 Jan 2015)

Michael Noonan: The price of Brent crude oil has fallen considerably since June 2014. For the most part, this is a positive development and is likely to have a favourable impact on real economic activity in Ireland. As Ireland is a net energy importer, falls in oil prices have a positive impact in the short term. Lower energy prices reduce firms' input costs,...

Written Answers — Department of Finance: Banks Recapitalisation (15 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 67 and 72 together. As the Deputy is aware, within the past few days, I have awarded a contract to Goldman Sachs International to provide financial advice to the Department of Finance in relation to capital restructuring actions (and other related matters) with respect to the State's investments in AIB. I can confirm for the Deputy that the duration of the...

Written Answers — Department of Finance: Credit Unions Restructuring (15 Jan 2015)

Michael Noonan: The Credit Union Restructuring Board (ReBo) has given approval to 12 restructuring proposals, involving 30 credit unions. Of these, 8 credit union mergers involving 20 credit unions have been completed to date. The remaining 4 proposals involving 10 credit unions are awaiting Central Bank approval and are due to complete shortly. In line with the...