Results 17,001-17,020 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Exemptions (26 Mar 2013)

Michael Noonan: The enactment of the Finance (Local Property Tax) (Amendment) Act 2013 on 13 March introduced a number of amendments to the original Act, which includes relief for properties adapted for use by disabled persons. I would like to clarify that qualifying for this relief does not confer on the property an exemption from the charge to Local Property Tax. Section 15A of the Finance (Local...

Written Answers — Department of Finance: Property Taxation Exemptions (26 Mar 2013)

Michael Noonan: The Government agreed with the recommendation of the "Thornhill Group" (the inter-Departmental Group, chaired by Dr Don Thornhill, which considered the structures and modalities of a property tax) that a universal liability to the Local Property Tax (LPT) should apply to all owners of residential property with a limited number of exemptions. Limiting the exemptions available allows the rate...

Written Answers — Department of Finance: Negative Equity Mortgages (26 Mar 2013)

Michael Noonan: Firstly, I must confirm to the Deputy that the lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities and, as such, it is a commercial decision for each lender to decide what products they will provide including a negative equity mortgage. It is not appropriate for me, as Minister for Finance, to comment on or...

Written Answers — Department of Finance: Financial Services Regulation (26 Mar 2013)

Michael Noonan: The Central Bank has informed me that its publication on Mortgage Arrears Resolution Targets, which can be accessed on the Central Bank’s website at , addresses the use of IFRS standards in the context of MARS targets and on page 16 states: “An entity which prepares their financial statements in accordance with International Financial Reporting Standards (IFRS) is required to...

Written Answers — Department of Finance: Mortgage Arrears Proposals (26 Mar 2013)

Michael Noonan: As the Deputy is aware on 13 March 2013 the Central Bank announced new measures to address mortgage arrears which included the publication of performance targets for the main mortgage banks. These targets are set in relation to both Principal Dwelling Homes (PDH) and Buy to Let (BTL) mortgages and have been set for banks regarding sustainable resolution for arrears cases which are 90 days or...

Written Answers — Department of Finance: Central Bank of Ireland Issues (26 Mar 2013)

Michael Noonan: The terms of the Agreement on Net Financial Assets and related issues is a matter for the Central Bank of Ireland and the ECB and not something that I can comment on.

Written Answers — Department of Finance: IBRC Liquidation (26 Mar 2013)

Michael Noonan: I propose to take Questions Nos. 196 and 197 together. I have been advised that the Central Bank of Ireland received €25bn of marketable sovereign bonds in lieu of the Promissory Notes. The Central Bank will hold the sovereign bonds in its trading portfolio and will sell them over time. The timing of bond sales set out is a minimum schedule and can be accelerated as market conditions...

Written Answers — Department of Finance: Deposit Guarantee Scheme (26 Mar 2013)

Michael Noonan: I am satisfied that there are adequate measures in place to protect depositors in the institutions covered by the Deposit Guarantee Scheme (DGS), which is funded by the credit institutions covered by the scheme and is backed by the Exchequer. The Financial Services (Deposit Guarantee Scheme) Act 2009 provides for the operation of the Deposit Protection Account (DPA). Credit Institutions...

Written Answers — Department of Finance: Banking Sector Remuneration (26 Mar 2013)

Michael Noonan: I had noted the actions taken in Spain for the demand of the return of certain incentive payments already made from a cadre of executives of the Spanish bank, Bankia, as part of its recapitalisation late last year. The situation while analogous in some respects to our banking recapitalisations would not appear to be similar in all respects to the domestic circumstances underpinning our...

Written Answers — Department of Finance: Banking Sector Remuneration (26 Mar 2013)

Michael Noonan: The Review of Remuneration and Practices and Frameworks at the covered institutions revealed that salaries for continuing employees has increased within a range of 4% to 6% due to pay increases awarded in 2009 and individual promotions across the remaining three covered institutions. No pay increases have been provided to the generality of the employees since that time and the Review states...

Written Answers — Department of Finance: Financial Services Ombudsman (26 Mar 2013)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions and it would not be appropriate for me to comment on how he performs those duties. The Irish Bank Resolution Corporation Act 2013 was passed on 7 February 2013. Pursuant to the provisions of the Act, I made a Special Liquidation Order for the purpose of winding up...

Written Answers — Department of Finance: IBRC Liquidation (26 Mar 2013)

Michael Noonan: As the Deputy is aware, following the appointment of the Special Liquidator IBRC employee contracts were terminated in the Republic of Ireland. As a result of the termination of the employment contracts, employees are entitled to apply for a statutory redundancy payment and a statutory notice payment, subject to the limits prescribed by statute. Claim forms for statutory entitlements have now...

Written Answers — Department of Finance: Property Taxation Application (26 Mar 2013)

Michael Noonan: I propose to take Questions Nos. 203 and 205 together. Local Property Tax (LPT) is a self-assessed tax so in the first instance it is a matter for the liable person to determine the valuation band that their residential property falls into and then to calculate and pay over the amount of tax due. I am advised by the Revenue Commissioners that, in common with the procedures for other taxes,...

Written Answers — Department of Finance: State Banking Sector (26 Mar 2013)

Michael Noonan: As the Deputy will be aware the Bank of Ireland has only issued the documentation for the Annual General Court on 24 April in the last couple of days. My Department will fully peruse all the documentation before deciding the appropriate vote for each of the resolutions and as always, will vote in the best interest of the State and to maximise the return to the taxpayer of the funds invested...

Written Answers — Department of Finance: Bank Codes of Conduct (26 Mar 2013)

Michael Noonan: My Department has no responsibility in relation to the seizure of farm equipment. I would expect that such seizures are carried out in accordance with the law and that proper notice was given to the person affected regarding alleged outstanding debts on the equipment. However, if that was not the case and the Deputy suspects that an illegal action took place in relation to this particular...

Written Answers — Department of Finance: Tax Code (26 Mar 2013)

Michael Noonan: The precise number of recipients that will be liable to income tax on their maternity benefit payment is not available. However, I understand that the Department of Social Protection have estimated that the average weekly maternity benefit recipients in 2013 to be 22,800, including those who will not have an increased liability to income tax. As a result of maternity benefit payments...

Written Answers — Department of Finance: Departmental Agencies Board Remuneration (26 Mar 2013)

Michael Noonan: Information in respect of the total remuneration paid to members of the National Treasury Management Agency (NTMA) Advisory Committee, the National Development Finance Agency Board, the National Pensions Reserve Fund (NPRF) Commission and the State Claims Agency Policy Committee are given below. The amounts below are based on actual remuneration payments made in 2012. Board/Body Name No...

Written Answers — Department of Finance: Black Economy Issues (26 Mar 2013)

Michael Noonan: I propose to take Questions Nos. 210 and 211 together. I receive regular representations from individuals and representative groups in relation to various aspects of the shadow economy and it is a topic which was mentioned frequently in the Pre-Budget Submissions sent in to my Department. Most correspondents would suggest measures which could be taken and all suggestions are reviewed by...

Written Answers — Department of Finance: Tax Code (26 Mar 2013)

Michael Noonan: My Department has not conducted a cost-benefit analysis on the introduction of tax breaks to support micro-breweries and distilleries. The provision of other types of incentives for this industry would be a matter for the Minister for Jobs, Enterprise and Innovation in the first instance. Generally speaking, it is not permitted under EU State Aid rules to have preferential tax regimes for...

Written Answers — Department of Finance: Office of the Ombudsman (26 Mar 2013)

Michael Noonan: The First Schedule to the Ombudsman Act 1980, which shows Departments of State and other persons subject to investigation, lists the Department of Finance and the Revenue Commissioners as such bodies. In that regard, therefore, the scheme you refer to is already within the remit of the Ombudsman.