Results 17,861-17,880 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Exemptions (27 Feb 2013)

Michael Noonan: I assume the Deputy is referring to the Local Property Tax (LPT). I am informed by the Revenue Commissioners that it is not possible to give a definitive reply based on the information provided by the Deputy. While there is no specific exemption from the LPT for a person with multiple sclerosis, the Finance (Local Property Tax) (Amendment) Bill 2013 contains a provision that, if enacted,...

Written Answers — Department of Finance: Disabled Passengers (27 Feb 2013)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of a car adapted for the transport of a person with specific severe and permanent physical disabilities, to those who meet certain disability criteria. The disability criteria for eligibility for the tax concessions under this scheme are set out in...

Written Answers — Department of Finance: Illicit Trade in Tobacco (27 Feb 2013)

Michael Noonan: I am advised by the Revenue Commissioners that determining the scale of any illicit black market activity, and the loss of excise duty that it causes, is problematic, and any estimates of such loss need to be viewed with caution. In the case of cigarettes, I am advised that a survey in respect of 2011 carried out for the Revenue Commissioners and the Health Services Executive found that...

Written Answers — Department of Finance: IBRC Liquidation (27 Feb 2013)

Michael Noonan: I am advised by the Special Liquidators that any properties for sale where the sales contract has not been signed will be included in the valuation process as set out in the IBRC Act. No property will be sold unless the bid is equal to in excess of the independent valuation that is to be obtained as part of that process. The contractual terms and conditions of mortgage customers will not...

Written Answers — Department of Finance: IBRC Liquidation (27 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 64, 94 and 95 together. On the 7th February 2013 I issued a Direction (NAMA/3/12/IBRC Act) to NAMA pursuant to the IBRC Act 2013 to provide such credit facilities to a special liquidator on such terms and conditions, as are specified in the direction. NAMA has complied with this Direction and made a €1 billion credit facility available to the special...

Written Answers — Department of Finance: IBRC Liquidation (27 Feb 2013)

Michael Noonan: It is not possible to attach a value to this privileged information. I have been informed that in addition to the policies and procedures that have been put in place by the Special Liquidators to ensure that no privileged information leaves IBRC (in Special Liquidation), employees owe a common law duty of confidentiality such that they cannot use confidential information obtained during the...

Written Answers — Department of Finance: Legislative Process (27 Feb 2013)

Michael Noonan: The Irish Bank Resolution Corporation Bill 2013 (the “Bill”) was drafted by the Office of the Attorney General. The formulation of the legislation was primarily conducted by the Department of Finance. However advices were received from Arthur Cox Solicitors and in connection with the preparation of the legislation. In addition the National Treasury Management Agency, the...

Written Answers — Department of Finance: Legislative Process (27 Feb 2013)

Michael Noonan: The company referred to in the question provided legal advices in connection with the formulation and preparation of the Irish Bank Resolution Corporation Bill, which was drafted by the Office of the Attorney General. The substance of those advices are subject to legal professional privilege.

Written Answers — Department of Finance: Ministerial Meetings (27 Feb 2013)

Michael Noonan: It should be noted that every economics and finance minister in the European Union is a member of the Economic and Financial Affairs Council (Ecofin). Each month the Ecofin Council meets to discuss economic policy coordination, economic surveillance, monitoring of Member States' budgetary policy and public finances, financial markets and capital movements, as well as other matters. In...

Written Answers — Department of Finance: Sale of State Assets (27 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 69 and 70 together. Where requested by Government, NewERA (a business unit in the NTMA) is carrying out advisory and oversight roles in relation to the possible restructuring or disposal of commercial State company assets. NewERA’s role in these disposal processes is to assist and advise the relevant Government Departments in representing the...

Written Answers — Department of Finance: Promissory Note Negotiations (27 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 71, 73 and 83 together. The negotiations surrounding the promissory note have been conducted over several months. I took the opportunity to raise the matter with my EU colleagues whenever the opportunity was afforded me. I impressed on colleagues the importance of putting in place long-term stable funding as a means of greatly enhancing our debt...

Written Answers — Department of Finance: Ministerial Meetings (27 Feb 2013)

Michael Noonan: As Minister for Finance, I have regular contact with members of the European Commission, including Commissioner Rehn. This level of interaction has increased during the Irish Presidency of the Council of the European Union and my consequent role as Chairman of the Economic and Financial Affairs Council. It should be noted that every economics and finance minister in the European Union is a...

Written Answers — Department of Finance: Banking Sector Regulation (27 Feb 2013)

Michael Noonan: As the Deputy will be aware I have responded to a similar question in January 2013. I will therefore limit my response to progress since then. I chaired the ECOFIN Council meetings on 22 January and 12 February. Minister of State Hayes represented Ireland as the delegate at both of these meetings. At these meetings I provided Ministers with an update on the various banking regulation...

Written Answers — Department of Finance: Unemployment Levels (27 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 75 and 76 together. My Department produces and publishes forecasts for the total unemployment rate, and does not disaggregate this between short and long-term unemployed. Furthermore the projections are full year averages rather than end-year forecasts. In this context, my Department’s latest forecast – published at Budget time – is...

Written Answers — Department of Finance: Tax Code (27 Feb 2013)

Michael Noonan: All companies in Ireland pay the standard 12.5% rate on their trading profits which are generated in Ireland. A higher 25% rate applies in respect of investment, rental and other non-trading profits and profits from certain petroleum, mining or land dealing activities. I am aware of recent media reports which refer to the ways that some multinational companies structure their international...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (27 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 78 and 79 together. Debt overhang and SME arrears are issues which impact on the ability of a SME to meet its existing commitments as well as hindering its ability to secure additional credit which it may need. I meet regularly with representatives of the banking sector about all aspects of the economy and this is a topic addressed in those meetings. The...

Written Answers — Department of Finance: Maternity Benefit (27 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the expected yield from the taxation of Maternity Benefit payments, which will take effect from 1 July 2013, is estimated at €15 million in 2013 and €40 million in a full year. Such payments will remain exempt from Universal Social Charge. The statistical basis of this estimate was the estimated aggregate amount of the benefit...

Written Answers — Department of Finance: Additional Voluntary Contributions (27 Feb 2013)

Michael Noonan: Finance Bill 2013 provides that persons making Additional Voluntary Contributions (AVCs) used to supplement their main scheme retirement benefits can withdraw up to 30% of the value of those contributions. Any amounts withdrawn will be subject to tax at the individual’s marginal rate. The option will be available for 3 years from the passing of the Finance Bill. This is a restricted...

Written Answers — Department of Finance: Property Taxation Application (27 Feb 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 provides that local authorities will be liable to pay the Local Property Tax (LPT) on their properties in the same way as any other residential property owner, unless the properties are used to accommodate people with special housing needs. I am informed by the Revenue Commissioners that they are liaising with the Department of the Environment,...

Written Answers — Department of Finance: Fuel Rebate Scheme (27 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 84, 85 and 89 together. The proposal to introduce an auto-diesel excise duty relief for licensed road hauliers that I announced in the Budget was, initially, confined to licensed and tax compliant hauliers. However having received a number of submissions from, and on behalf of, private coach operators seeking to have this relief extended to them, Deputies...