Results 9,121-9,140 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Nursing Homes Support Scheme Data (2 Dec 2014)

Michael Noonan: I am advised by Revenue that it acts as the collection agent for the Health Service Executive (HSE) in respect of the repayment of loan funding provided under the Ancillary State Support Scheme. Revenue's involvement in this regard is provided for under the Nursing Homes Support Scheme (Collection and Recovery of Repayable Amounts) Regulations 2009 and Statutory Instrument No. 436 of 2009. ...

Written Answers — Department of Finance: Bank Charges (2 Dec 2014)

Michael Noonan: I have been informed that the current overdraft interest rate for an authorised borrowing on personal current accounts at the institution in question is 11.85%. Surcharge interest (currently 12% per annum) applies to unscheduled or unauthorised borrowings by a customer on their account(s). It is charged on out of order accounts and is based on the amount by which the account is in...

Written Answers — Department of Finance: Tax Code (2 Dec 2014)

Michael Noonan: I am informed by the Revenue Commissioners that where a parent makes a loan interest free (whether described as a gift or not) to a child on the basis that the full loan will be repaid but without interest, there are no tax implications for the parent. The child is considered to be in receipt of an annual gift from the parent throughout the term of the loan. The value to the child of this...

Written Answers — Department of Finance: Tax Code (2 Dec 2014)

Michael Noonan: The General Court of the EU has struck down the Commission's decision that the exemption of transfer and transit passengers from the Air Travel Tax did not constitute State aid. This judgement was made on the basis that the Commission's decision was not based on a full and formal investigation. The Deputy is aware that Ryanair lodged a State aid complaint with the Commission against...

Written Answers — Department of Finance: Economic Growth (2 Dec 2014)

Michael Noonan: I note the opinion of the OECD that the revenue gains from higher economic growth should be used to accelerate the reduction of the debt ratio. However, it is important to point out that, when framing a Budget, the Government does not just consider the fiscal position but also has to consider a number of other issues such as social cohesion and the need to safeguard the ongoing economic...

Written Answers — Department of Finance: Tax Data (2 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 215 and 216 together. I have provided the Deputy with the number of sub-contractors registered in the State for Relevant Contracts Tax (RCT) for the years 2010 to 2014 in my reply to Question No. 202 (ref. 45172/14) on 25 November 2014.   I am informed by the Revenue Commissioners that the total number of contractors, i.e. principal and sub-contractors...

Written Answers — Department of Finance: Tax Code (2 Dec 2014)

Michael Noonan: I have referred the material supplied by the Deputy, including part 9, to the Revenue Commissioners for their attention and any appropriate action.  The Commissioners have advised me that the details have been noted.  As the Deputy will be aware, provisions regarding taxpayer confidentiality preclude them from commenting further in relation to the case concerned.

Written Answers — Department of Finance: Central Bank of Ireland Properties (2 Dec 2014)

Michael Noonan: Under section 6B of the Central Bank Act 1942, the Central Bank Commission is responsible for administrating the provision of accommodation and the acquisition and disposal of land by the Central Bank. As Minister for Finance, I have no role in the matter.   As I indicated in a response to a previous Parliamentary Question (written answer No. 39 of 29 January 2014), the...

Written Answers — Department of Finance: Bank Fines (2 Dec 2014)

Michael Noonan: The Central Bank fined Ulster Bank Ireland Limited  €3,500,000 and reprimanded it in relation to IT and governance failings by the firm that resulted in approximately 600,000 customers being deprived of essential and basic banking services over a 28 day period during June and July 2012. The Central Bank found that the firm failed to have robust governance arrangements in relation...

Written Answers — Department of Finance: Proposed Legislation (2 Dec 2014)

Michael Noonan: In order to protect consumers whose loans are sold to unregulated entities the Government is committed to bringing forward appropriate legislation and in July and August of this year the Department of Finance ran a public consultation seeking views on this proposed legislation. There have been nineteen submissions received from a range of respondents including the financial services...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (2 Dec 2014)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, repayment of excise duty on fuel, and an exemption from Motor Tax. To qualify for the Scheme, an applicant must have a permanent and severe...

Written Answers — Department of Finance: Construction Sector Strategy (2 Dec 2014)

Michael Noonan: Construction 2020 is a comprehensive strategy to restore the construction sector to a sustainable position and it sets out a number of action points to increase the supply good quality houses to meet a growing demand. One of the strategy action points provides for an examination of the issue of mortgage insurance and a consideration of how it might assist the provision of...

Written Answers — Department of Finance: Mortgage Intermediary Licence Revocation (2 Dec 2014)

Michael Noonan: On the basis of information I have received from the Central Bank of Ireland, I can confirm that the firm to which the Deputy refers was once authorised as a mortgage intermediary but had its authorisation revoked pursuant to Section 116 (11) of the Consumer Credit Act 1995 (as amended) and appears in the Register of Revoked Mortgage Intermediaries maintained pursuant to Section 151A of...

Written Answers — Department of Finance: Property Taxation Exemptions (2 Dec 2014)

Michael Noonan: The exemption from Local Property Tax (LPT) based on "significant pyritic damage" has been dealt with in a number of Parliamentary Questions this year, including Questions No. 217 on 18/2/14 (8212/14), No. 121 on 30/4/14 (19698/14), No. 43 on 19/6/14 (26462/14) and No. 14 on 2/10/14  (37016/14). Section 10A of the Finance (Local Property Tax) Act 2012 (as amended) provides for a...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (2 Dec 2014)

Michael Noonan: In relation to mortgage loans previously sold by IBRC, the Special Liquidators sought and received the agreement of bidders and the ultimate purchasers of IBRC mortgage loans to voluntarily comply with the terms of the Code of Conduct on Mortgage Arrears. I understand that these mortgages are currently being serviced in line with those terms. Furthermore, the Department of Finance has...

Written Answers — Department of Finance: NAMA Debtors (2 Dec 2014)

Michael Noonan: I am advised that NAMA applies fair procedures in dealing with all debtors including rights of representation before any enforcement action is pursued. The debtor is made fully aware of the reasons any business decision is taken by NAMA in pursuing its objective of maximising debt recovery on behalf of the taxpayer.

Written Answers — Department of Finance: VAT Rate Application (2 Dec 2014)

Michael Noonan: With regard to the application of VAT on electricity bills supplied by utility companies, in accordance with section 37(1) of the Value-Added Tax Consolidation Act 2010, the amount on which VAT is chargeable is the total consideration receivable by the supplier, "including all taxes, commissions, costs and charges whatsoever", but not including the VAT itself.  This reflects EU VAT law,...

Written Answers — Department of Finance: NAMA Portfolio (2 Dec 2014)

Michael Noonan: I wish to advise the Deputy that, NAMA manages its loan portfolio on the basis of debtor connections, which may consist of one debtor or a number of closely-related debtors whose aggregate debt is considered by NAMA to be best managed as one cohesive connection rather than managed through separate debtor entities.  Debtor connections therefore can comprise both corporate and individual...

Written Answers — Department of Finance: NAMA Code of Conduct (2 Dec 2014)

Michael Noonan: The NAMA Code of Practice and Professional ConductOfficers of NAMA (the "Code")was adopted by the NAMA Board at its meeting of 7thJanuary 2010.  The Code, which is reviewed annually, underscores NAMA's commitment to the highest standards of conduct and has been prepared to assist its personnel in understanding their duties, rights and obligations in the conduct of their work.  It...

Written Answers — Department of Finance: NAMA Court Cases (2 Dec 2014)

Michael Noonan: NAMA has initiated 259 cases since its inception, of which 142 are still active. Of the 117 cases that have completed, 16 of those cases (or part thereof) were settled out of Court and 101 were determined by the Courts.