Results 9,601-9,620 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Data (5 Nov 2014)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (CCMA) is a statutory Code issued under Section 117 of the Central Bank Act 1989 and lenders are required to comply with the CCMA as a matter of law.  The CCMA applies to the mortgage lending activities of all regulated entities, except credit unions, operating in the State, including: -A financial services provider authorised,...

Written Answers — Department of Finance: Corporation Tax Regime (5 Nov 2014)

Michael Noonan: In last month's Budget I announced several changes to Ireland's corporation tax regime, as part of an overall strategy to "play fair and play to win".  This included a change to Ireland's rules on company tax residence which will bring our company residence rules into line with those in the rest of the OECD and an end to the so-called 'Double Irish'.  This was balanced with a...

Written Answers — Department of Finance: Tax Credits (5 Nov 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the granting of a tax credit for the amount of Danish tax paid in any year may only be given after the end of that year, on receipt of a copy of the Danish Tax Assessment, in accordance with Article 23, Section 2(a) of the Double Taxation agreement between Ireland and Denmark. I understand that the tax position for the years 2009 to 2012 has...

Written Answers — Department of Finance: Universal Social Charge Payments (5 Nov 2014)

Michael Noonan: The current situation is that the charge to USC applies equally to all up to an income level of €100,000. A 10% rate is charged on self-assessed income above this level, which compares with a 7% rate which is charged on PAYE incomes above that level. When USC was first introduced in 2011 the PRSI ceiling on income over €75,000 was also removed for all PAYE employees....

Written Answers — Department of Finance: Tax Reliefs Application (5 Nov 2014)

Michael Noonan: Tax relief is not available to parents in respect of crèche fees or childcare costs.  However, I would like to assure the Deputy that the Government acknowledges the continuing cost pressures on parents, particularly those with young children. In recognition of these cost pressures, a number of support measures are in place to ease the burden on working parents....

Written Answers — Department of Finance: Water Charges Introduction (5 Nov 2014)

Michael Noonan: A number of measures were announced on Budget day to improve the overall affordability of water charges. The objective of these supports is to assist households in the country who pay their water bills. Following on from the announcement on Budget day, officials from my Department are working closely with their colleagues in the other relevant Departments and Agencies, in the...

Written Answers — Department of Finance: Capital Allowances (5 Nov 2014)

Michael Noonan: As the Deputy is aware, a scheme of accelerated capital allowances for the construction and refurbishment of certain buildings and structures for use in the maintenance, repair or overhaul of commercial aircraft, and the dismantling of such aircraft for the purposes of salvaging or recycling of parts or materials was announced in Budget 2013.  An application for State Aid approval...

Written Answers — Department of Finance: Tax Yield (5 Nov 2014)

Michael Noonan: The windfall tax provisions are contained in Sections 644AB and 649B Taxes Consolidation Act (TCA) 1997, introduced by Section 240 National Asset Management Agency Act 2009 and amended by Section 25 Finance Act 2010, and apply an 80% rate of tax to the "windfall" profits or gains from land disposals or land development where those profits or gains are attributable to a relevant planning...

Written Answers — Department of Finance: Economic Growth (5 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 63, 65 and 72 together. Following successful implementation of the EU-IMF programme, the Irish economy has emerged from the crisis and there are clears signs that the economic recovery is gathering momentum.  First estimates of economic activity for the second quarter of this year were very strong and were well ahead of consensus expectations...

Written Answers — Department of Finance: Mortgage Data (5 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 64 and 69 together. The Central Bank has confirmed to me that if a loan book is transferred from one regulated entity to another the various Central Bank of Ireland codes continue to apply (i.e. Consumer Protection Code and Code of Conduct on Mortgage Arrears (CCMA)).  By virtue of an exemption in Part V of the Central Bank Act 1997, an unregulated...

Written Answers — Department of Finance: Home Repossession Rate (5 Nov 2014)

Michael Noonan: The Central Bank of Ireland publishes a Mortgage Arrears and Repossessions statistical series on a quarterly basis, available at .  As at end-Q2 2014, there were 1,274 residential properties in possession.  Further information, including historical figures on property repossessions, is available in the spreadsheet below.  The historical data clearly shows that the majority of...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (5 Nov 2014)

Michael Noonan: The Government imposed SME lending targets on the two main domestic banks for the three calendar years, 2011 to 2013. Each bank was required to sanction lending of at least €3 billion in 2011, €3.5 billion in 2012 and €4 billion in 2013 for new or increased credit facilities to SMEs. Both banks achieved their targets. Having completed a process of deleveraging, both...

Written Answers — Department of Finance: Mortgage Data (5 Nov 2014)

Michael Noonan: The Central Bank does not publish data on this matter due to confidentiality reasons. Based on information in the public domain, however, a transaction worth approximately €223 million took place between two regulated entities and this is estimated to cover between 1,000 and 2,000 mortgages. With regard to unregulated entities, information from company announcements in...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Establishment (5 Nov 2014)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) has been established by the Government as a means of ensuring that SMEs in Ireland are provided with sufficient finance for growth. Loan agreements with the international funders, KfW and the European Investment Bank, to the value of €550m have been signed to fund the SBCI during its initial period of operations. The SBCI is...

Written Answers — Department of Finance: Foreign Direct Investment (5 Nov 2014)

Michael Noonan: In last month's Budget I announced several changes to Ireland's corporation tax regime, as part of an overall strategy to "play fair and play to win". This strategy was underpinned by extensive research undertaken and commissioned by my Department over the course of 2014 which has now been published.  One of the key findings of the research is that the FDI sector is very important for...

Written Answers — Department of Finance: NAMA Portfolio (5 Nov 2014)

Michael Noonan: The detail sought by the Deputy is set out below. Table: Completed residential stock held by NAMA debtors and receivers (Republic of Ireland) Residential units securing NAMA loans sold within the past 18 months 4,000 Residual residential portfolio* 14,000 (10,000 apartments/4,000 houses) Of which, total rented properties 9,400 Total annual rental income €95m Note:Completed...

Written Answers — Department of Finance: Tax Code (5 Nov 2014)

Michael Noonan: In recognition of the fact that investment and growth in OECD economies is increasingly driven by investment in intangible assets, putting in place an attractive intellectual property offering is key for Ireland's success in attracting FDI.  This is why in last month's Budget I made a clear statement of my intention to introduce a competitive income-based regime for intangible assets in...

Written Answers — Department of Finance: Tax Credits (5 Nov 2014)

Michael Noonan: As the Deputy will be aware, a number of measures were announced on Budget day to improve the overall affordability of water charges. The objective of these supports is to assist households in the country who pay their Water bills. Following on from the announcement on Budget day, officials from my Department are working closely with their colleagues in the other relevant Departments and...

Written Answers — Department of Finance: Motor Tax Exemptions (5 Nov 2014)

Michael Noonan: Motor tax is a matter for the Minister for the Enviroment and therefore this is not appropiate to my Department.  I understand that the Minister for the Environment will today provide the Deputy with a response under PQ No. 183 (42381/14).

Written Answers — Department of Finance: Appointments to State Boards (5 Nov 2014)

Michael Noonan: In response to the Deputy's question, my Department holds lists of applicants for positions to the boards of three bodies under its aegis. They are as follows: National Treasury Management Agency  The recently-enacted National Treasury Management Agency (Amendment) Act 2014 provides that the Agency will have six members appointed by the Minister for Finance....