Results 1,181-1,200 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Sector Regulation (15 Feb 2017)

Michael Noonan: The excesses seen in the banking system prior to 2008 has resulted in significant changes to the regulatory framework facing the industry. This included a number of changes to the framework that applies to bonus payments (including salaries and discretionary pension benefits) to staff of relevant institutions. The aim of these changes is to prevent a re-emergence of the issues we...

Written Answers — Department of Finance: Banking Licence Applications (15 Feb 2017)

Michael Noonan: I am informed by the Central Bank that the number of applications for a banking licence received in the past five years is as follows: 2016 - None 2015 - None 2014 - None 2013 - One - Dell Bank International Limited - licence granted 2012 - None In December 2015, Credit Suisse AG, a credit institution authorised in Switzerland was granted authorisation under section 9A of the Central Bank...

Written Answers — Department of Finance: Bank Restructuring (15 Feb 2017)

Michael Noonan: The Government is committed to continuing to work to improve the attractiveness of the Irish market to new entrants. I have said before that open market competition represents the best method of driving better rates, offers and choice in financial services for customers. This can be fuelled both by competition between existing lenders and that introduced by new entrants. In this regard, as...

Written Answers — Department of Finance: Mortgage Schemes (15 Feb 2017)

Michael Noonan: The Central Bank has confirmed that the scope of the Tracker Mortgage Examination covers all lenders which sold tracker mortgage accounts, including both for the family home and investment properties, up to the end of 2015. This includes mortgages: - that originated on tracker interest rates; - that had tracker interest rates applied at any stage during the term of the underlying mortgage...

Written Answers — Department of Finance: Revenue Documents (15 Feb 2017)

Michael Noonan: I am advised by Revenue that arrangements have been made to provide the person concerned with the details sought.

Written Answers — Department of Finance: Budget 2016 (15 Feb 2017)

Michael Noonan: I am advised by Revenue that taxpayers are entitled to structure their businesses and undertake their business activities in the most tax efficient manner permitted by the law. However, where such structures and activities result in an outcome not intended by the legislation, Revenue will raise the issue with this Department and propose a legislative change to neutralise or limit such an...

Written Answers — Department of Finance: Tax Code (15 Feb 2017)

Michael Noonan: The recently launched "Realising our Rural Potential: Action Plan for Rural Development" by the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs contains a detailed list of actions and priorities with a view to revitalising rural Ireland generally. This effort is being led by the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs in...

Written Answers — Department of Finance: Non-Principal Private Residence Charge Administration (14 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 130 and 156 together. I am advised by the Revenue Commissioners that the High Court decision concerning the deductibility against rental profits of the Non Principal Private residence charge (NPPR) has been appealed by them to the Court of Appeal. While that appeal is pending Revenue is not in a position to amend assessments or process repayment claims...

Written Answers — Department of Finance: Customs and Excise Protocols (14 Feb 2017)

Michael Noonan: The United Kingdom has not yet issued formal notification of its intention to leave the EU and it is clear that the discussions that will follow that notification will be complex.  The Government's position is very clear in that we want the closest possible trading relationship with the UK.  In that regard a key priority is to ensure the continued free flow of trade on the island...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (14 Feb 2017)

Michael Noonan: As the Deputy is aware, a Primary Medical Certificate is required to claim the tax reliefs provided under the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme.  The Senior Medical Officer for the relevant local Health Service Executive administrative area makes a professional clinical determination as to whether an individual applicant satisfies the medical criteria to...

Written Answers — Department of Finance: Property Tax (14 Feb 2017)

Michael Noonan: Revenue provides a wide range of payment and phased payment options that allow property owners to meet their Local Property Tax (LPT) obligations in a manner that best suits individual circumstances. One of the available phased payment options is Deduction at Source from ten separate payment schemes operated by the Department of Social Protection (DSP). The Deputy should note that...

Written Answers — Department of Finance: Tax Collection (14 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 134, 135 and 157 together. The Deputies will be aware that I made provision in the Finance Act 2016 for the exclusion by Ministerial Order of any specified agricultural sector where the business structures or models employed result in a systematic excess of flat-rate addition payments over input costs borne by flat-rate farmers within that sector. I...

Written Answers — Department of Finance: Mortgage Interest Rates (14 Feb 2017)

Michael Noonan: The issue of standard variable mortgage rates is a significant one for this Government and it has made it clear that it is not acceptable for lenders to charge excessive rates on such mortgages.  The Programme for a Partnership Government, therefore, set out a number of important and practical measures which can be taken to improve the position of variable rate...

Written Answers — Department of Finance: NAMA Debtors (14 Feb 2017)

Michael Noonan: My reply to Question No. 111 of 25 January 2017 stated that 505 debtor connections with a par debt of €27.3 billion had exited NAMA by end-2016. I am advised that NAMA wrote off a total of €956 million of par debt in respect of these 505 debtor connections, which is less than 4% of the original par debt of €27.248 billion acquired by NAMA relating to...

Written Answers — Department of Finance: Living City Initiative (14 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 138 and 139 together. Under the terms of the Living City Initiative, applications are only required to be made to the relevant local authority under the residential element of the scheme and this is not a requirement for the commercial element of the scheme. Additionally, the Revenue Commissioners do not compile statistics in relation to...

Written Answers — Department of Finance: Tax Code (14 Feb 2017)

Michael Noonan: I am advised that there are currently no tax incentives for landowners to lease land to sports clubs on a long term basis. There is a similar incentive, however, which provides tax relief for certain income from the long term leasing of agricultural land under Section 664 of the Taxes Consolidation Act 1997.  That tax relief has a very specific policy aim of...

Written Answers — Department of Finance: NAMA Portfolio (14 Feb 2017)

Michael Noonan: I am advised by NAMA that NAMA held security over a large number of units within the development to which the Deputy refers.  These units were under the management of a receiver appointed by the relevant Participating Institution prior to NAMA's acquisition of the related borrowings. I am further advised that the properties controlled were sold on...

Written Answers — Department of Finance: European Fund for Strategic Investments (14 Feb 2017)

Michael Noonan: I presume that the Deputy's reference to flexibility under the Stability and Growth Pact is to the "investment clause", which allows for a temporary deviation from the required structural budgetary adjustment for capital investment, co-funded by the EU, that increases the potential growth of the economy. Use of the clause is subject to strict...

Written Answers — Department of Finance: European Fund for Strategic Investments (14 Feb 2017)

Michael Noonan: Since the enactment of the European Fund for Strategic Investments (EFSI) Regulation in July 2015, it has been possible for any project promoter, either public or private, to engage with the EIB regarding the possibility of receiving support for their project in terms of loans or guarantees under EFSI. In general, Government Departments have existing relationships with the EIB so it has...

Written Answers — Department of Finance: Insurance Costs (14 Feb 2017)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...