Results 10,421-10,440 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Exchequer Revenue (17 Sep 2014)

Michael Noonan: The revised scheme for Film Relief will operate through a payable Corporation Tax credit to Producer Companies in the amount of 32% of eligible expenditure incurred in the production of a qualifying film or television programme. Eligible expenditure is expenditure incurred on the employment of individuals, in so far as such employment is exercised within the State, and on the acquisition of...

Written Answers — Department of Finance: Bank Reports (17 Sep 2014)

Michael Noonan: I am aware of the report by Clifford Chance LLP, who was engaged by The Royal Bank of Scotland (RBS) to independently review the central allegation made by Dr Lawrence Tomlinson in a report entitled Banks' Lending Practices: Treatment of Businesses in distress (the Tomlinson Report). Clifford Chance was instructed to investigate the central allegation made in the Tomlinson Report that...

Written Answers — Department of Finance: NAMA Debtors (17 Sep 2014)

Michael Noonan: It would not be appropriate for me or for NAMA to comment on the circumstances of any individual debtor or to comment in such a manner as would identify an individual debtor.  One of the debtors identified by the Deputy as being discharged is not a NAMA debtor.  NAMA advises me that it tracks all its debtors which declare bankruptcy. The Deputy will be aware that the discharge of...

Written Answers — Department of Finance: NAMA Loans Sale (17 Sep 2014)

Michael Noonan: I have been advised by the Special Liquidators that they will not be commenting on individual cases and that they cannot comment on the assets of Irish Bank Resolution Corporation Assurance Company Limited as this is a separate regulated entity that is outside of the control of the Special Liquidators.

Written Answers — Department of Finance: Illicit Trade in Fuel and Tobacco Products (17 Sep 2014)

Michael Noonan: I am advised by the Revenue Commissioners that tackling fuel fraud and illicit tobacco is, and will continue to be, a high priority for them. The Deputy will be aware of the significant threat posed by fuel laundering since 2011 and the successful action taken by the Revenue Commissioners to tackle the problem, including the introduction of enhanced supply chain controls, the acquisition of...

Written Answers — Department of Finance: Motor Tax Exemptions (17 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that section 132(3)(e) of the Finance Act 1992 provides for the charging of a "nil" rate of Vehicle Registration Tax (VRT) on categories of motor vehicle that are designed and constructed in a manner specific to their purpose and that are used for public services such as road cleaning, road construction and for the exclusive transport of life boats...

Written Answers — Department of Finance: Mortgage Data (17 Sep 2014)

Michael Noonan: The provision of mortgage products by a financial institution is a commercial decision for the lending institution concerned. I am informed by the Central Bank of Ireland that it does not comment on individual products. The Construction Strategy sets out a comprehensive strategic approach to housing that is being undertaken by Government. As part of...

Written Answers — Department of Finance: Stamp Duty Arrears Issues (17 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that a deed was executed in the case in question on 7thApril 2011, and presented to Revenue electronically, on 27thJuly 2011.  The initial duty calculated in the case was €21,000, but a relief was also claimed. On the 16 August 2012, Revenue was informed by the solicitor representing the person in question that the transaction was not...

Written Answers — Department of Finance: Special Savings Incentive Scheme (17 Sep 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the total value of subscriptions made to Special Savings Incentive Accounts (SSIAs) from commencement of the scheme in May 2001 until its ending in April 2007 was €11,384m and the total tax credit was €2,473m. I am further advised by Revenue that 1,170,208 SSIAs were commenced by individuals in the period from its introduction up...

Written Answers — Department of Finance: Tax Deduction Systems (17 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the electronic relevant contracts tax (eRCT) system is a tax deduction at source system that applies to payments made under contracts in the construction, meat processing and forestry sectors.  The eRCT system was introduced in 2012 to bring, inter alia, more control and oversight to construction sector contracts.  Under the system,...

Written Answers — Department of Finance: Banks Recapitalisation (17 Sep 2014)

Michael Noonan: I take it that the Deputy's question refers to the issues of the retrospective direct recapitalisation of Irish banks and the early repayment by Ireland of a portion of our IMF loans which are covered in the Irish Times opinion piece by Mr Donal Donovan, dated 10 September 2014, as set out in the details provided with this question and in particular the issues of direct...

Written Answers — Department of Finance: Government Bonds (17 Sep 2014)

Michael Noonan: Subsequent to the liquidation of IBRC the Central Bank acquired €25bn of Floating Rate Notes (FRNs) and €3.46bn of Government Fixed Coupon 2025 Government bonds.  The Bank undertook to sell the combined portfolio of the FRNs and the fixed rate bond as soon as possible provided the conditions of financial stability permit. The Bank also indicated that, as a minimum,...

Written Answers — Department of Finance: Living City Initiative (17 Sep 2014)

Michael Noonan: Officials from my Department have held discussions with the relevant local authorities to identify the areas of the six cities, Cork, Dublin, Galway, Kilkenny, Limerick and Waterford, which might fall within the scope of the scheme. Each of the local authorities have now submitted proposals on the areas which they believe should be included.  My...

Written Answers — Department of Finance: Departmental Appointments (17 Sep 2014)

Michael Noonan: The total number of appointments to my Department from open recruitment since March 2011 are detailed below. Some appointments in 2011 occurred before the establishment of the Department of Public Expenditure and Reform. Title 2011 2012 2013 2014 Grand Total Secretary General 1 1 1 3 Assistant Secretary 1 1 1 3 Chief Economist 1 1 Chief Finance & Operations Officer 1 1...

Written Answers — Department of Finance: Public Sector Staff Increment Payments (17 Sep 2014)

Michael Noonan: My colleague, Minister Howlin, will be responding in respect of all civil servants in each Government Department/Office. I am advised that in relation to the NTMA the response is nil. Please note that the list of offices and bodies under the aegis of my Department are currently being reviewed.

Written Answers — Department of Finance: Departmental Staff Career Breaks (17 Sep 2014)

Michael Noonan: No officers on career break from my Department lost their right to return to their old positions and hence the responses to the remaining questions are nil. I am advised by the NTMA and the Office of the Comptroller and Auditor General that their responses are also nil. I am advised by the Office of the Revenue Commissioners of the following: 1.118 Revenue staff were on...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Michael Noonan: I can confirm to the Senator that our intentions are aligned once more in the case of this amendment. It is not intended that the SBCI will have any capacity to issue letters of comfort which are legally binding guarantees. This term - "letters of comfort" - is used to describe assurances provided to lenders or other institutions where there is no legal or statutory basis for a guarantee,...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Michael Noonan: I thank both Senators for their contributions. The best thing to do is to describe briefly how I envisage the new credit institution, SBCI, will operate. First, it will be a wholesale bank. That means we will receive funds from KfW bank in Germany, from the European Investment Bank and also from our own strategic investment fund in Ireland. It will do that each year and on-lend, but it...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Michael Noonan: I thank Senator Barrett for the effort he has clearly put into his consideration of the Bill. It seems our general intentions in this area are well aligned. However, on this particular point of detail, I cannot change the text of the Bill as it is. The particular subsection deals with the potential payment of callable capital if required. It is desirable to use callable capital as it...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Michael Noonan: The proposed amendment would require the Minister to seek the approval of the Houses of the Oireachtas in order to dispose of shares in the SBCI. Let me be clear: it is not anticipated that the Minister's shareholding in the SBCI will be sold or otherwise disposed of at any time. Section 11(5) specifies that the Minister for Finance shall be the sole shareholder. The Minister has freedom...