Results 12,881-12,900 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Financial Instruments (4 Feb 2014)

Michael Noonan: I believe the Deputy is referring to the Markets in Financial Instruments Directive and Regulation (MiFID II and MiFIR - "MiFID"). Provisional political agreement on this file was achieved on 15 January 2014 but it remains subject to further technical work and will need to be ratified by both the European Parliament and the Council.  MiFID aims to make...

Written Answers — Department of Finance: Job Initiatives (30 Jan 2014)

Michael Noonan: As the Deputy is aware, I announced the Start Your Own Business initiative, which provides an exemption from Income Tax for individuals who have been unemployed for a period of 12 months and who start a new, un-incorporated business between 25 October 2013 and 31 December 2016. An exemption from Income Tax will be provided on profits up to a maximum of €40,000 per annum for the first...

Written Answers — Department of Finance: Departmental Contracts (30 Jan 2014)

Michael Noonan: In an effort to save costs,  my Department introduced in 2009 a policy where by Staff requiring to usetaxis are required pay for the taxi themselves and recoup the costs from the Department following presentation and approval of the receipt for the official trip undertaken. In addition staff were also requested to use public forms of transport including the air coach...

Written Answers — Department of Finance: Mortgage Resolution Processes (30 Jan 2014)

Michael Noonan: I propose to take Questions Nos. 36, 37 and 45 together. According to the Central Bank of Ireland, the Mortgage Arrears Resolution Targets (MART) were introduced, as a prudential policy measure, to set progressively more demanding quantitative targets for specified Credit Institutions to process mortgage arrears cases and achieve sustainable outcomes.  The specified Credit Institutions...

Written Answers — Department of Finance: Mortgage Resolution Processes (30 Jan 2014)

Michael Noonan: I propose to take Questions Nos. 38 and 39 together. I have been advised by the Special Liquidators that Irish Bank Resolution Corporation Limited (in Special Liquidation) was not one of the Specified Credit Institutions as set out in the Mortgage Arrears Resolution Targets ( MART ) published by the Central Bank of Ireland in March 2013.  At the time the MART were published in...

Written Answers — Department of Finance: Pensions Levy Issues (30 Jan 2014)

Michael Noonan: I announced in my Budget 2014 speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 will be abolished from the 31st of December 2014. I have however, introduced an additional levy on pension funds at 0.15% to, among other things, continue to help fund the Jobs Initiative. The additional levy, within the existing legal framework, will apply to pension fund...

Written Answers — Department of Finance: Tax Exemptions (30 Jan 2014)

Michael Noonan: I propose to take Questions Nos. 41, 42 and 43 together. The administration of the Charitable Tax Exemption is a matter for the Revenue Commissioners. I am informed by Revenue that 8,421 bodies currently hold charitable tax exemptions and that a full list of such bodies is available on the Revenue website at . I am also informed that the relevant information available as to Exchequer cost...

Written Answers — Department of Finance: Property Taxation Administration (30 Jan 2014)

Michael Noonan: I assume the Deputy is referring to the exemption in section 8 of the Finance (Local Property Tax) Act 2012 (as amended). It was originally intended that this exemption would only apply to first-time buyers, which is clear from the heading to the section: "Exemption for first-time buyers". The Explanatory Memorandum to the Bill (prior to enactment) also states that the exemption applies to...

Written Answers — Department of Finance: IBRC Loans (30 Jan 2014)

Michael Noonan: I have been advised by the Special Liquidators that the information requested regarding the sale of the loan from IBRC (In Special Liquidation) will not be published as it is commercially sensitive information.  The Special Liquidators believe that releasing this information may prejudice the ability of the Special Liquidators to obtain best value for the loan assets in the ongoing IBRC...

Written Answers — Department of Finance: Mortgage Resolution Processes (29 Jan 2014)

Michael Noonan: The Central Bank has informed me that it does not publish the particular data requested by the Deputy. However, it does collect and publish data on the number of mortgage accounts in arrears and the number of alternative arrangements put in place across the regulated industry. These are published quarterly by the Central Bank. The latest available statistics, for Quarter...

Written Answers — Department of Finance: Tax Yield (29 Jan 2014)

Michael Noonan: I am informed by Revenue that the provisional receipts on betting duty for 2013 were approximately €25.4 million. The estimated take of 2014 betting duty would be broadly in line with this figure.  However this takes no account of any duty that may arise out of the extension of betting duty to the remote betting sector which is dependent on the enactment of the...

Written Answers — Department of Finance: Insurance Levy (29 Jan 2014)

Michael Noonan: The Insurance Compensation Fund (ICF) levy being applied to home, motor and commercial insurance, and which came into effect from 1 January 2012,  operates under the Insurance Act 1964.  Its purpose is to protect policy holders in the event of their insurer becoming insolvent. In 2010 Joint Administrators were appointed by the High Court at the request of the Central Bank...

Written Answers — Department of Finance: NAMA Debtors (29 Jan 2014)

Michael Noonan: As the Deputy may be aware, NAMA is subject to similar legal requirements as other lenders that preclude it from disclosing details relating to its debtors and properties owned by its debtors.

Written Answers — Department of Finance: Property Taxation Administration (29 Jan 2014)

Michael Noonan: In accordance with the Finance (Local Property Tax) Act 2012 (as amended), liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which was 1 May 2013 for 2013 and for subsequent years, 1 November in the preceding year. For the year 2014, the liability date is 1 November.  I would draw the Deputies attention to the fact that...

Written Answers — Department of Finance: Tax Credits (29 Jan 2014)

Michael Noonan: As the Deputy is aware, the One-Parent Family Tax Credit (OPFTC) is being replaced with a new Single Person Child Carer Tax Credit from 1 January 2014.   The restructured credit will be of the same value i.e. €1,650 per annum as the one-parent family tax credit and it will also carry the same entitlement to the additional €4,000 extended standard rate band, which...

Written Answers — Department of Finance: Mortgage Debt (29 Jan 2014)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (CCMA) sets out requirements for mortgage lenders dealing with borrowers facing or already in arrears on a mortgage which is secured on a primary home. The CCMA provides a strong consumer protection framework to ensure that borrowers struggling to keep up mortgage repayments are treated in a fair and transparent manner by their...

Written Answers — Department of Finance: Universal Social Charge Exemptions (29 Jan 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned is liable to pay the universal social charge for 2012. A PAYE Balancing Statement (P21) issued to the person concerned on 2 April 2013 detailing the charge for 2012. In Budget 2013, following a review of the USC carried out by my Department, the income threshold for the application of the universal social charge was...

Written Answers — Department of Finance: Central Bank of Ireland Properties (29 Jan 2014)

Michael Noonan: Under section 6B of the Central Bank Act 1942, the Central Bank Commission is responsible for administering the provision of accommodation and office and other equipment with a view to enabling the Central Bank to perform and exercise its functions and powers. Accordingly I have no function in the matter of accommodation arrangements at the Central Bank. I have been...

Written Answers — Department of Finance: Central Bank of Ireland IT Operations (29 Jan 2014)

Michael Noonan: The Central Bank entered into a contract with Hewlett Packard Ireland Ltd. to provide the physical data centre environment to host the Central Bank's IT systems and to manage the technical infrastructure aspects of these systems. Hewlett Packard Ireland Ltd. will also provide hosting facilities at a backup data centre for the purposes of business continuity. Both of these data centres are...

Written Answers — Department of Finance: Banking Operations (29 Jan 2014)

Michael Noonan: I have been informed by the Central Bank that, generally speaking, the clearing cycle for a cheque in Ireland should be no longer than three business days, with the bar on returning a cheque unpaid being set at five business days. However, it should be noted that this clearing cycle can be shorter in some circumstances in particular where the accounts of the payer and the payee are both...