Results 18,221-18,240 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Bank Debt Restructuring (6 Feb 2013)

Michael Noonan: Firstly, I must confirm to the Deputy that I have no statutory role in relation to the sale of mortgage books by regulated financial institutions. This is a commercial matter for each institution concerned. The Central Bank’s Code of Conduct on Mortgage Arrears applies to mortgage lending activities with borrowers in respect of their principal private residence in the State....

Written Answers — Department of Finance: Tax Yield (6 Feb 2013)

Michael Noonan: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes which was introduced in Budget and Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. The SFT was reduced in Budget and Finance Act 2011 by over 50% to a level of €2.3 million with effect from 7 December 2010 with transitional arrangements to...

Written Answers — Department of Finance: Departmental Staff (6 Feb 2013)

Michael Noonan: Information regarding the number of retired public servants who have been re-hired is detailed in the Appropriation Accounts. The Appropriation Accounts are available online at www.audgen.gov.ie. One former staff member is providing contractual services to this Department and is paid at a per diem rate. I am advised by the Revenue Commissioners that having examined their Personnel...

Written Answers — Department of Finance: Property Taxation Exemptions (6 Feb 2013)

Michael Noonan: The Thornhill Group, the interdepartmental group chaired by Dr Don Thornhill to consider the design of a property tax, recommended that “at least a portion” of the Local Property Tax paid in respect of a rented property should be deductible for income tax or corporation tax purposes, in a similar manner to commercial rates. This is not provided for in the Finance (Local Property...

Written Answers — Department of Finance: Bank Guarantee Scheme (6 Feb 2013)

Michael Noonan: As the Deputy may be aware, when the ELG (Amendment) Scheme 2012 was before the Houses of the Oireachtas late last year, Minister for State at my Department Mr.Brian Hayes, T.D. indicated that it was the Government’s intention to begin winding down the Scheme as soon as was practicable in 2013. This strategy has been agreed with the Troika and its implementation remains my clear...

Written Answers — Department of Finance: Illicit Trade in Tobacco (6 Feb 2013)

Michael Noonan: This is a matter for the Revenue Commissioners who are responsible for the collection of tobacco products tax. I am advised by the Revenue Commissioners that in the past they have used paid advertising to promote the confidential free phone number. More recently, it is promoted through their website and the phone number is included in press releases relating to cigarette and tobacco...

Written Answers — Department of Finance: Excise Duty Reliefs (6 Feb 2013)

Michael Noonan: The proposal to introduce an auto-diesel excise duty relief for licensed road hauliers that I announced in the Budget is confined to licensed and tax compliant hauliers. However, I have received a number of submissions from, and on behalf of, private coach operators seeking to have this relief extended to them. I will consider these proposals and the level of the rebate in the context of the...

Written Answers — Department of Finance: Departmental Banking (6 Feb 2013)

Michael Noonan: In response to the Deputy’s question I have received the following information in relation to bodies under the aegis of my Department. Irish Bank Resolution Company (IBRC) At 30 June 2012 IBRC held €0.2Bn of short term interbank placements and nostro accounts of which €0.1Bn is placed with entities covered under the Eligible Liabilities Guarantee (ELG) scheme (see...

Written Answers — Department of Finance: Overseas Development Aid (5 Feb 2013)

Michael Noonan: I assume that the Deputy is referring to the contribution of €20m (over a nine-year period beginning in 2013) which Ireland has pledged to the current replenishment of the Asian Development Fund (ADF), the concessional lending arm of the Asian Development Bank (ADB) of which Ireland has been a member since 2006. The ADF assists development in the poorest countries of Asia and the...

Written Answers — Department of Finance: Property Taxation Exemptions (5 Feb 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 provides for a number of specific exemptions from the charge as well as the possibility of deferring the charge in certain cases of hardship. Exemptions from or deferral of the Local Property Tax only apply in the circumstances provided for in the legislation. A requirement to pay management fees is not relevant in determining liability. ...

Written Answers — Department of Finance: Tobacco Control Measures (5 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 234, 286, 287 and 288 together. I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and for tacking the illicit trade in tobacco products, that they attach a high priority to dealing with this criminal activity. Their “Strategy on Combating the Illicit Tobacco Trade (2011-2013) which is published on...

Written Answers — Department of Finance: EU-IMF Agreement (5 Feb 2013)

Michael Noonan: There is no specific reference to this in the programme documentation. However, as outlined previously, the Government considered burden sharing with unguaranteed bondholders in Irish Bank Resolution Corporation (IBRC). The Government always stated that we would not act unilaterally and we would only proceed with the agreement of the ECB and our EU partners. In this regard, as you are well...

Written Answers — Department of Finance: Bank Guarantee Scheme (5 Feb 2013)

Michael Noonan: The Central Bank of Ireland has advised me that as of 18th February 2011 (the nearest available date to end February), the total unguaranteed senior debt issued by the covered institutions was €36,452m of which €20,039m was unguaranteed senior secured and €16,413m was unguaranteed senior unsecured. This information was published on the Central Bank of Ireland website in...

Written Answers — Department of Finance: Bank Debt Restructuring (5 Feb 2013)

Michael Noonan: IBRC provides details of their outstanding liabilities in their published accounts. This cumulative figure amounted to €50.4bn at 30 June 2012 including €45.2bn representing sale and repurchase agreements with banks and central banks. This amount will have to be repaid over time, mainly from annual instalments on the Promissory Notes. The realisable value on the remaining IBRC...

Written Answers — Department of Finance: Bank Codes of Conduct (5 Feb 2013)

Michael Noonan: All regulated financial institutions must comply with the provisions of the Central Bank’s ‘Code of Conduct on Mortgage Arrears’ and the ‘Mortgage Arrears – A Consumer Guide to Dealing with your Lender’, and they include the number of times a lender may contact a borrower who is in arrears or in pre-arrears. As the Deputy can appreciate, it is not...

Written Answers — Department of Finance: Promissory Note Negotiations (5 Feb 2013)

Michael Noonan: As the Deputies are aware, the Irish Government has been working extremely hard to secure a deal on the Irish bank debt with our European partners and detailed work will continue to ensure that positive moves in Europe are harnessed to maximise the benefit to the Irish taxpayer. The focus of the on-going detailed discussions have progressed to consideration of all options in relation to the...

Written Answers — Department of Finance: Capital Expenditure Programme (5 Feb 2013)

Michael Noonan: The capital allocation for my Department for 2013 is €0.150m. None of this budget is allocated for construction projects. The remainder of the €5m that you refer to is allocated to the Office of the Revenue Commissioners.

Written Answers — Department of Finance: Departmental Properties (5 Feb 2013)

Michael Noonan: My functions, as Minister for Finance, under the State Property Act 1954 in relation to the assets of dissolved companies were transferred to the Minister for Public Expenditure and Reform under the Ministers and Secretaries (Amendment) Act 2011 and S.I. no. 418/2011. I have asked the Minister for Public Expenditure and Reform to look into the details of the case referred to by the Deputy...

Written Answers — Department of Finance: Non-Principal Private Residence Charge (5 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 242, 256 and 290 together. The inter-Departmental Group chaired by Dr Don Thornhill on the design of a property tax (the “Thornhill Group”) recommended that the Non-Principal Private Residence charge (NPPR) should be absorbed into the Local Property Tax (LPT) as a separate supplemental tax in addition to the LPT at the existing level applying...

Written Answers — Department of Finance: Tax Reliefs (5 Feb 2013)

Michael Noonan: The tax affairs of individual companies are a matter for the Revenue Commissioners and the companies concerned. I am informed by the Revenue Commissioners that their obligation to observe confidentiality in relation to the tax affairs of individual taxpayers and companies precludes them from providing the information requested by the Deputy in respect of individual companies. However, the...