Results 9,141-9,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Public Procurement Contracts (2 Dec 2014)

Michael Noonan: The NAMA Board, pursuant to Section 15.1 of the Code of Practice for the Governance of State Bodies, has implemented a procurement policy to ensure compliance with the EU public procurement rules and to ensure NAMA achieves value for money when procuring services required by the agency. The NAMA Procurement Policy applies to contracts procured by NAMA.NAMA borrowers are not governed by...

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

Michael Noonan: As highlighted in my Department's Section 227 review of NAMA, one of the risks to NAMA is debtor fatigue. Debtors have engaged with NAMA on the establishment and implementation of business plans with a view to paying off their loans.  However, debtors are seeking a certainty on recourse and an ultimate exit from their relationship with NAMA.  The longer the debtor...

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

Michael Noonan: NAMA is a data controller for the purposes of the Data Protection Acts. NAMA makes available to individuals copies of their personal data in accordance with the statutory right of access to personal data.

Written Answers — Department of Finance: Appointments to State Boards (2 Dec 2014)

Michael Noonan: The number of appointments which were made to State Boards in 2014 without  being advertised and the number that have been made of persons who had not formally applied for consideration of the particular appointment is detailed in the table. The majority of the appointments were in the main reappointments of Board members. The exceptions were in relation to...

Written Answers — Department of Finance: Insurance Compensation Fund (27 Nov 2014)

Michael Noonan: The Insurance Compensation Fund (ICF) provides for payments to meet the liabilities of insolvent insurers in certain cases where it is unlikely that claims can be met otherwise than from the ICF.  Under the Insurance Act 1964 claims by bodies corporate or unincorporated bodies are not covered by the ICF, except where there is a liability to or by an individual.  In addition, all ICF...

Written Answers — Department of Finance: Government Deficit (27 Nov 2014)

Michael Noonan: In formulating the most recent proposals announced in relation to the financing of Irish Water and water charges, the Government has sought to ensure that Irish Water will pass the 'Market Corporation Test'. Irish Water will introduce water charges for domestic customers to fund expenditure on the treatment and provision of water services. The monies raised by water charges will...

Written Answers — Department of Finance: VAT Rate Reductions (27 Nov 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the EU VAT Directive (Council Directive 2006/112/EC) generally provides that supplies of goods and services be chargeable to VAT at the standard rate but that lower rates are permitted in very limited circumstances.  Food products can only benefit from the zero rating in accordance with Article 110 of the VAT Directive which permits the...

Written Answers — Department of Finance: Mortgage Lending (27 Nov 2014)

Michael Noonan: As the Deputy is aware, the Central Bank of Ireland published a public consultation paper on the 7th October 2014 regarding proposals for new macro-prudential measures for residential mortgage lending in order to enhance the resilience of the banking sector and households to housing market developments. The consultation paper proposes a number of measures, one of which is to require lenders...

Written Answers — Department of Finance: Local Government Fund (27 Nov 2014)

Michael Noonan: It is important to highlight to the Deputy that the below figures do not take into consideration the significant levels of funding received by the Local Government Fund from the Exchequer on an annual basis. Under section 6 subsection (2C) of the Local Government Act 1998 as amended by the Motor Vehicle (Duties and Licences) Act 2012, a total of €46.5 million was transferred from the...

Written Answers — Department of Finance: Insurance Industry Regulation (27 Nov 2014)

Michael Noonan: The registration of insurance brokers is a matter solely for the Central Bank of Ireland under the relevant insurance intermediaries legislation and the Central Bank Acts and is not a matter in which I have a role.  I am advised by the Central Bank that it does not comment on individual applications for authorisation.  I am further advised by the Central Bank as...

Written Answers — Department of Finance: Tax Yield (27 Nov 2014)

Michael Noonan: I assume that the Deputy is referring to Capital Gains Tax and Capital Acquisition Tax. I am informed by the Revenue Commissioners that receipts of those taxes and DIRT for March to December 2011 are as set out in the following table. Year Capital Gains Tax Capital Acquisitions Tax Deposit Interest Rate Tax €m €m €m 2011 (from March) 354 227 359 I am further...

Written Answers — Department of Finance: Pensions Levy (27 Nov 2014)

Michael Noonan: The original 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 ended this year. The additional levy on pension funds at 0.15% which I introduced for 2014 and 2015 mainly to help continue to fund Jobs Initiative will also end after next year. The position is that the equivalent value of all of the money raised from the stamp duty levy has been used to fund the wide range...

Written Answers — Department of Finance: Tax Code (27 Nov 2014)

Michael Noonan: As the Deputy will be aware, a progressive taxation system means that those on higher incomes pay proportionately higher rates of tax on their income than those on lower incomes. The European Commission compares progressivity of taxation by taking the OECD tax wedge for an individual earning 167% of the average wage and dividing it by the tax wedge for an individual earning 67% of the...

Written Answers — Department of Finance: Exports Data (27 Nov 2014)

Michael Noonan: I am aware of the phenomenon of 'contract manufacturing'.  Indeed, the economic review and outlook that accompanied Budget 2015 contained a detailed explanation of the issue (). Exports grew by 13.0 per cent year-on-year in the second quarter of this year, with goods exports up nearly 16 per cent. This was not matched by proportionate import growth, despite the growth in...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael Noonan: In accordance Standing Order 140, I would be obliged if the Ceann Comhairle would direct the Clerk to make the following minor drafting corrections to the text of the Bill: on page 48, line 15, to substitute (I) for (A); on page 48, line 18, to substitute (I) for (A) and to substitute (II) for (B); on page 130, line 23, to substitute "or rescission" for "rescission"; and on page 130, line 27,...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael Noonan: I thank Deputies for their contributions. Deputy Daly has again illustrated that there is an issue which is problematic and I agree with her that there is an issue. I would like, and have instructed, my officials to do everything they can to resolve the problem. My difficulty with the amendment is different. It does not solve the problem without raising other issues. The issue can be...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael Noonan: I will deal first with Deputy Daly's amendment and then Deputy Michael McGrath's amendment, taking into account the contributions of other Deputies. I am aware of the issues that Deputy Daly is attempting to address with her amendment. Officials of my Department, along with officials of the Department of the Environment, Community and Local Government, have been examining the alternative...

Written Answers — Department of Finance: Fuel Laundering (26 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 45 and 46 together. I am advised by the Revenue Commissioners, who are responsible for tackling fuel fraud, that they are very aware of the risks posed to consumers' vehicles, legitimate businesses and the exchequer by all forms of fuel fraud in the midlands and throughout the country. Revenue has, over the recent past, received reports from a variety of...

Written Answers — Department of Finance: VAT Rate Application (26 Nov 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. While we can maintain the zero rating on those goods and services which were zero-rated before 1 January 1991, the equipment referred to in general terms by the Deputy does not fall within this category. Similarly, member...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (26 Nov 2014)

Michael Noonan: In April 2013 the Court of Justice of the European Union ruled that the excise relief element of the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme is incompatible with the EU Energy Tax Directive. My Department has informed the European Commission of my intention to remove the excise relief element of the Scheme at the end of 2014 and replace it with a fuel grant in...