Results 17,981-18,000 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Pension Provisions (20 Feb 2013)

Michael Noonan: I can advise the Deputy unlike in other liquidations, the majority of employees have been re-hired by the special liquidators, for an expected minimum period of 3 months, to ensure an orderly wind-down of the business. The special liquidators have advised staff that their pensions are controlled by the scheme trustees who will have to independently assess the impact of the IBRC Act 2013...

Written Answers — Department of Finance: Redundancy Payments (20 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 96, 99, 101 and 102 together. Following the liquidation, all employment contracts in the Republic of Ireland have been terminated, including those of the former senior executives. The special liquidators have confirmed that the majority of staff, including some senior staff, have been re-employed on short term contracts to assist in the liquidation. ...

Written Answers — Department of Finance: Disabled Drivers (20 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No. 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994) (as amended) provide for permanent relief from the payment of specified maximum amounts of VAT and VRT for persons registered under the scheme. The legislation specifies...

Written Answers — Department of Finance: Property Taxation Exemptions (20 Feb 2013)

Michael Noonan: While no specific exemption from local property tax for individuals in the Health Service Executive Fair Deal Scheme is provided in either the Finance (Local Property Tax) Act 2012 or the Finance (Local Property Tax) (Amendment) Bill 2013, which I published last week, the legislation does provide for a number of exemptions from the Local Property Tax (LPT) as well as for the possibility of...

Written Answers — Department of Finance: NAMA Operations (20 Feb 2013)

Michael Noonan: I am advised by NAMA that as it will not have visibility on the portfolio to be acquired until late August, following the completion of a loans valuation and sales process by the Special Liquidators, it is not possible at this stage to assess the possible impact of the acquisition of the unsold element of the IBRC loans portfolio on cash flow projections for NAMA.

Written Answers — Department of Finance: Property Taxation Exemptions (20 Feb 2013)

Michael Noonan: The Finance (Local Property Tax) (Amendment) Bill 2013 provides for additional exemptions from the charge to Local Property Tax (LPT). It should be noted that the following information on the proposed exemptions is subject to enactment of the Bill. Residential properties owned by a charity and used solely as residential accommodation in the course of facilitating recreational...

Written Answers — Department of Finance: IBRC Liquidation (20 Feb 2013)

Michael Noonan: IBRC’s claims against third parties are unaffected by the liquidation. The Special Liquidators will have the power to continue to manage any IBRC claims that currently exist and will have the ability to assert further claims where they arise. The special liquidators ensure that all potential conflicts of interest identified are fully considered. The special liquidators do not believe...

Written Answers — Department of Finance: Banking Sector Remuneration (20 Feb 2013)

Michael Noonan: My Department is presently finalising the report with the consultants and I will bring it to Government shortly for decision. As I have said previously there is a real public interest in the levels of remuneration at the Covered Institutions and I will endeavour to have the details underpinning the review published as soon as possible thereafter.

Written Answers — Department of Finance: NAMA Operations (20 Feb 2013)

Michael Noonan: I am advised that NAMA is currently reviewing its options and will determine its approach in due course.

Written Answers — Department of Finance: IBRC Liquidation (20 Feb 2013)

Michael Noonan: There is an obligation on the Special Liquidators to ensure that the assets of IBRC are sold at a price which maximises the overall return for its creditors. 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...

Written Answers — Department of Finance: IBRC Liquidation (20 Feb 2013)

Michael Noonan: The payments in excess of €1m made by IBRC for the seven days prior and post the liquidation are commercially sensitive matters and therefore I cannot provide such information. It is normal course of practise that payments made by IBRC and the Special Liquidator are conducted under appropriate confidentiality constraints in order to protect the interests of all parties.

Written Answers — Department of Finance: IBRC Liquidation (20 Feb 2013)

Michael Noonan: At this early stage of the special liquidation the Special Liquidators are engaged in intensive processes which involve inter alia, asserting control over the businesses, processes, systems and personnel of IBRC. It is important that focus is placed on assessing, reorganising and restructuring the day–to-day activities of the Bank to meet the primary objective of ensuring the purpose...

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael Noonan: I will be in London during the next three days on Government business. If I had not introduced the Bill tonight it would have had to be introduced by a Minister of State. I wanted to introduce and speak on the Bill.

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael Noonan: The cap is the tax liability.

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael Noonan: It is a public expenditure issue.

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael Noonan: Part 5 deals with capital acquisitions tax, CAT. Section 81 is an interpretation section. Section 82 provides for the CAT changes announced in the budget, bringing the increase in the rate from 30% to 33% and the 10% reduction in the group tax free thresholds. Section 83 confirms the position that interest on outstanding discretionary trust tax, DTT, arises from the valuation date of the...

Finance Bill 2013: Order for Second Stage (19 Feb 2013)

Michael Noonan: I move: "That Second Stage be taken now."

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael Noonan: I move: "That the Bill be now read a Second Time." I am pleased to bring the Bill to the House at a time we can be optimistic. Ireland is continuing to recover from the most severe downturn in the history of the State, caused by crises in both the public finances and the banking system. The approach the Government has taken to engineer that recovery has had three overarching principles,...

Written Answers — Department of Finance: Tobacco Smuggling (19 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that combatting the illegal tobacco trade is, and will continue to be, a very high priority for them. The Commissioners' "Strategy on Combating the Illicit Tobacco Trade (2011-2013)", which is published on the Revenue website (www.revenue.ie), includes a wide range of measures designed to target those engaged in the supply and sale of illicit...

Written Answers — Department of Finance: Property Taxation Application (19 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, such as the elderly and people with disabilities. "Special housing needs" refers to the provision of housing...