Results 17,361-17,380 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Bank Debt Restructuring (12 Mar 2013)

Michael Noonan: I can inform the Deputy that KPMG advised Permanent TSB on the potential sale of Capital Home Loans (CHL) and Springboard mortgage loan books. I am advised that the sale of CHL was postponed while a revised Restructuring Plan was being prepared by management. The revised plan now includes CHL as a stand-alone unit as part of Permanent TSB. The decision to engage KPMG to advise on the sale of...

Written Answers — Department of Finance: IBRC Liquidation (12 Mar 2013)

Michael Noonan: I have been advised that it is the intention of the special liquidators to package and sell the mortgage book as a portfolio. I am advised that the special liquidators are currently devising a process where borrowers, third parties and other financial institutions will be given the opportunity to bid for specific portfolios (or component parts thereof) as part of an open and transparent...

Written Answers — Department of Finance: IBRC Liquidation (12 Mar 2013)

Michael Noonan: Details of the number of individual mortgage accounts that comprise the IBRC mortgage loan book can be found on page 170 of the Bank’s 2011 Annual Report & Accounts.

Written Answers — Department of Finance: IBRC Mortgage Loan Book (12 Mar 2013)

Michael Noonan: As part of the role of the liquidators, the assets of IBRC will be valued independently before being sold. Any assets not sold to third parties (including loan counterparties and other financial institutions) at or above the valuation price will be sold to NAMA at the independent valuation. The Special Liquidators are still in the process of devising and implementing a sales process in...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (12 Mar 2013)

Michael Noonan: As part of the role of the liquidators, the assets of IBRC will be valued independently before being sold. Any assets not sold to third parties (including loan counterparties and other financial institutions) at or above the valuation price will be sold to NAMA at the independent valuation. The Special Liquidators are still in the process of devising and implementing a sales process in...

Written Answers — Department of Finance: Tax Reliefs (12 Mar 2013)

Michael Noonan: As I informed the Deputy in my reply to her question of 23 January last, the annual return that relevant employers must submit to the Revenue Commissioners detailing, inter alia, the number of employees and the amounts of exempt income claimed under the Special Assignee Relief Programme was not due for submission until after the end of the tax year 2012. This is in order to ensure that an...

Written Answers — Department of Finance: Tax Rebates (12 Mar 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the person in question in this case is a company. The case has been examined, and all relevant refunds of tax withheld for the company, relevant to the accounting year ending 30/09/12, have been made to the company. In accordance with Section 530P, Taxes Consolidation Act 1997, any tax withheld arising for the company’s year 01/10/12...

Written Answers — Department of Finance: IBRC Staff (12 Mar 2013)

Michael Noonan: I can confirm that neither I nor the Special Liquidators have been in contact with any other financial institutions asking them not to employ current employees of IBRC.

Written Answers — Department of Finance: Legislative Programme (12 Mar 2013)

Michael Noonan: The Betting (Amendment) Bill was published in July last year. Since that date work has been continuing by officials of my Department and Revenue on the drawing up of a number of amendments to the Bill to strengthen enforcement measures. It is my intention, given the number of amendments, to go back to Government in the very near future for approval to republish the Bill. The Deputy will...

Written Answers — Department of Finance: Tax Reliefs (12 Mar 2013)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 provides a scheme for tax relief on donations to eligible charities and other approved bodies. The administration of this scheme is the responsibility of the Revenue Commissioners. A list of the bodies that qualify for the scheme is available on Revenue's website at the following link:...

Written Answers — Department of Finance: Tax Reliefs (12 Mar 2013)

Michael Noonan: Income tax relief in respect of health expenses is allowable in accordance with section 469 of the Taxes Consolidation Act 1997. This legislation provides for tax relief for health expenses incurred in the provision of health care. Health care is defined for the purposes of that legislation as the prevention, diagnosis, alleviation or treatment of an ailment, injury, infirmity, defect or...

Written Answers — Department of Finance: Grocery Industry (12 Mar 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information available is on the amount of gross income earned by the sector engaged in the retail sale of predominantly food, beverages or tobacco and referenced under NACE Code 4711. This is based on personal income tax returns filed by non-PAYE taxpayers and information on gross profits derived from corporation tax returns for...

Written Answers — Department of Finance: Mortgage Arrears Proposals (12 Mar 2013)

Michael Noonan: The Central Bank has advised me that, on 6 December 2010, it issued letters to all banks directing them to refrain from imposing interest surcharge on arrears or any other charge arising on a mortgage account in arrears to which the revised Code of Conduct on Mortgage Arrears applies and in respect of which a borrower is co-operating reasonably and honestly with the lender in the Mortgage...

Written Answers — Department of Finance: Excise Duties Yield (12 Mar 2013)

Michael Noonan: The breakdown in excise returns by category and by month from January 2011 to February 2013 is as follow 2011 Alcohol Tobacco Oils Carbon VRT Other Excise JAN 87.8 0.6 234.7 14.5 41.5 12.1 FEB 35.9 26.8 176.7 44.7 57.7 9.0 MAR 51.2 64.7 183.0 23.3 49.1 8.2 APR 67.9 96.1 180.2 32.2 45.9 9.5 MAY 67.5 65.4 177.5 19.4 33.5 5.5 JUN 65.6 102.9 177.9...

Written Answers — Department of Finance: Illicit Trade in Tobacco (12 Mar 2013)

Michael Noonan: I am advised by the Revenue Commissioners that determining the scale of any illicit black market activity, and the losses that it causes the Exchequer and the legitimate trade, is problematic, and estimates of such losses need to be viewed with caution. I understand that the available information on possible losses to the Exchequer relates only to cigarettes. A survey in respect of 2011...

Written Answers — Department of Finance: Property Valuations (12 Mar 2013)

Michael Noonan: I am informed by the Revenue Commissioners that a panel of valuation experts has been in place for a number of years for the purposes of Capital Gains Tax and Capital Acquisitions Tax where valuations were challenged by Revenue. As the previous contract recently expired, the Commissioners published an invitation to tender on the etenders website (etenders.gov.ie) on 8 February 2013, in line...

Written Answers — Department of Finance: IBRC Staff (12 Mar 2013)

Michael Noonan: As the Deputy is aware, the legislation surrounding liquidation ranks employees as preferential creditors in respect of certain amounts owing to them on a winding up, including accrued wages and salaries, holiday pay, sick pay, statutory redundancy, pensions contributions and claims for damages arising from accidents. There are standard rules which apply to the distribution of the assets of...

Written Answers — Department of Finance: State Banking Sector (12 Mar 2013)

Michael Noonan: I was pleased to see that Bank of Ireland’s 2012 results were slightly ahead of investors’ expectations and indeed prompted some in the market to upgrade their forecasts of the bank’s prospects for the years ahead. In order for Bank of Ireland to return to strength, meet the needs of the Irish economy and enable the State to exit its investment, it has to develop a...

Written Answers — Department of Finance: State Banking Sector (12 Mar 2013)

Michael Noonan: As the Deputy will be aware, as part of its recapitalisation commitments, the State invested €4.7bn in Bank of Ireland (BOI). The State has received c.€0.5bn for its warrants which were originally attached to our preference shares, and significant income in the form of coupons and dividends on its investments. In January 2013 the State also successfully disposed of the...

Written Answers — Department of Finance: IBRC Liquidation (12 Mar 2013)

Michael Noonan: I do not intend to publish the documents referred to in the directions, at this time, as they contain commercially sensitive information which if released could have a detrimental effect on the outcome for the taxpayer.