Results 9,801-9,820 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Fuel Laundering (23 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 69, 73, 74 and 76 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 such fraud. Revenue has, over the recent past, received reports from a variety of locations around the country of...

Written Answers — Department of Finance: Property Taxation Assessments (23 Oct 2014)

Michael Noonan: I am informed by the Revenue Commissioners that they have established a panel of private sector valuation experts to provide market valuations of all forms of real property including residential property, commercial property and development land. Where valuations of residential property are being challenged by Revenue in connection with LPT, Revenue will engage a valuation expert from this...

Written Answers — Department of Finance: Tax Reliefs Application (23 Oct 2014)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 (TCA) provides for a scheme of tax relief on donations to approved bodies. The list of approved bodies for the purposes of Section 848A, which includes eligible charities, bodies approved for education in the arts and eligible primary, secondary and third-level institutions, is available on the Revenue website at . For donations made pre-2013,...

Written Answers — Department of Finance: Tax Reliefs Eligibility (23 Oct 2014)

Michael Noonan: The artists' exemption provides for an exemption from Income Tax on the first €40,000 of earnings in relation to certain categories of works, namely: a book or other writing; a play; a musical composition; a painting or other picture; or a sculpture. The exemption does not extend to income arising from: royalties paid or associated with the performance of music whether by the composer...

Written Answers — Department of Finance: Credit Unions Regulation (23 Oct 2014)

Michael Noonan: This Government established the Commission on Credit Unions in May 2011 to make recommendations in relation to the most effective regulatory structure for credit unions, taking into account their not-for-profit mandate, their volunteer ethos and community focus, while paying due regard to the need to fully protect members' savings and financial stability. The Commission published its final...

Written Answers — Department of Finance: Banking Sector Investigations (23 Oct 2014)

Michael Noonan: A decision was taken by this House on the 7th of May to establish a Joint Committee to prepare a proposal for an inquiry relating to the banking crisis to be conducted in accordance with the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Act 2013. That Committee met a number of times across the summer before submitting a proposal to the Committees on Procedure and Privileges...

Written Answers — Department of Finance: Debt Collectors Regulation (23 Oct 2014)

Michael Noonan: The Central Bank confirmed to me that debt collection firms, that is, firms that seek to collect debt due on behalf of creditors are not subject to authorisation and supervision in their own right by the Central Bank of Ireland. In circumstances where a regulated financial service provider outsources its debt collection activities, any agent acting on behalf of that regulated financial...

Written Answers — Department of Finance: Public Sector Staff Remuneration (23 Oct 2014)

Michael Noonan: In response to the Deputy's question, I am informed that none of the bodies under the remit of my Department deliver bonuses to staff that need improvement.

Written Answers — Department of Finance: NAMA Investigations (22 Oct 2014)

Michael Noonan: In Irish civil litigation procedure, there is no provision for a plaintiff (such as NAMA) to seek an order in the terms described in the PQ, namely, an "order directing Gardaí to arrest any person". In certain circumstances it is open to the judge in a civil litigation matter to issue a bench warrant for the arrest of a person and a judge in civil proceedings may make an order for...

Written Answers — Department of Finance: Tax Code (22 Oct 2014)

Michael Noonan: Irish Water is described as the national water utility. The Water Services (No.2) Act 2013 refers to "the public utility nature of its functions".   In recognition of the new charging regime for the provision of water supplies, I announced in the Budget that I would provide tax relief at the standard rate of 20% on water charges paid up to a maximum of €500,...

Written Answers — Department of Finance: Tax Credits (22 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 48 and 73 together. As the Deputy is aware, I announced in the Budget that tax relief for water charges will be introduced. Relief will be available at the standard rate of 20%, on water charges paid, up to a maximum of €500 per annum, which may result in tax relief up to €100. Individuals in receipt of the relevant compensatory...

Written Answers — Department of Finance: Sovereign Debt (22 Oct 2014)

Michael Noonan: There have been recent discussions at the IMF on sovereign debt restructuring but there are no proposals at an EU level to legislate regarding the actions of so called "vulture funds" in the case of sovereign debt crises. Ireland along with all Eurozone members now includes Collective Action Clauses in the sovereign bonds it issues. Such clauses provide for...

Written Answers — Department of Finance: Mortgage Arrears Proposals (22 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 50, 51 and 76 together. The Central Bank published a revised Code of Conduct on Mortgage Arrears on 27 June 2013 following approval by the Central Bank Commission and consultation with the Minister for Finance. The Central Bank has advised that it will commence a review of CCMA compliance later this year. Where the purchaser of a loan book...

Written Answers — Department of Finance: NAMA Court Cases (22 Oct 2014)

Michael Noonan: I am advised by NAMA that High Court proceedings issued on 18 February 2014 entitled NALM v Stephen Byrne (Record Number High Court 2014/ 561S) were inadvertently omitted from the report in respect of Q1 2014. The proceedings were included in a supplemental list contained in the report in respect of Q2 2014. This was scheduled to be published yesterday as part of NAMA's Q2-2014 Accounts.

Written Answers — Department of Finance: Corporate Governance (22 Oct 2014)

Michael Noonan: Officials at the Department of Finance have raised this question with the Special Liquidators of IBRC who are in the process of compiling a response which I will forward to the Deputy at the earliest opportunity. While I await the response of the Special Liquidators I would caution that there are a number of on-going Garda and regulatory investigations, including an...

Written Answers — Department of Finance: NAMA Accounts (22 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 54 and 55 together. NAMA has reported profits (after impairment) in each year since it was established of an average of €225m per annum other than in 2010, its first full year of operation, when it incurred an impairment charge of €1.5 billion. NAMA has generated cumulative operating profits (before impairment) of €3.8 billion from...

Written Answers — Department of Finance: NAMA Accounts (22 Oct 2014)

Michael Noonan: The Deputy's question assumes that NAMA is in a position to retain assets over a medium-term horizon with a view to maximising the return which it can generate from them. This assumption is not in line with the requirement in the NAMA Act that NAMA deals expeditiously with the assets acquired by it and it is not in line with the strategy which has been set out by the NAMA Board and endorsed...

Written Answers — Department of Finance: NAMA Bonds (22 Oct 2014)

Michael Noonan: The ECB currently accepts NAMA Senior Bonds as eligible collateral and has done so since 2010. Provided that these bonds continue to meet the ECB's eligible asset criteria, the expectation is that they will continue to be accepted as eligible collateral.

Written Answers — Department of Finance: NAMA Operations (22 Oct 2014)

Michael Noonan: I understand from NAMA that the Judge's commentary in the Flynn case does not relate to the provision of statements of account to NAMA borrowers, but rather that statements of accounts were not put in evidence before the court as one means of proving the debt owing. NAMA has confirmed that the Court did not request statements of account during the case, but that they would have been provided...

Written Answers — Department of Finance: NAMA Staff Numbers (22 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 59 and 60 together. Resourcing requirements within NAMA are continually reviewed by the NAMA Board and headcount requirements are approved on the basis of business needs. This includes the need to deliver on a demanding strategic plan which involves acceleration of asset disposals and the redemption of 80% of its senior debt by end 2016. Combined with this,...