Results 18,401-18,420 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: EU Programmes (22 Jan 2013)

Michael Noonan: At the outset I want to stress that growth and jobs is a key theme of the Irish Presidency of the European Union. A number of initiatives are being implemented at EU level in order to boost growth. I believe the cumulative impact of all of these measures will be positive in terms of supporting economic activity in the EU at this difficult juncture. For instance, Heads of State or...

Written Answers — Department of Finance: Tax Rebates (22 Jan 2013)

Michael Noonan: Ireland, as with other countries, has experienced an increase in fuel prices. This increase is an international phenomenon. Fuel prices are driven by a number of factors including the price of oil on international markets, exchange rates, production costs and refining costs. The rise in oil prices over recent periods reflected additional factors such as geopolitical uncertainty in Northern...

Written Answers — Department of Finance: State Banking Sector (22 Jan 2013)

Michael Noonan: IBRC has confirmed that it has a banking licence which was issued by the Central Bank of Ireland (“CBI”) on 19th May 1987 and which remains in effect today. As a licensed credit institution, IBRC is subject to the CBI's Licensing and Supervision Requirements for Credit Institutions along with a wide range of other legal and regulatory obligations.

Written Answers — Department of Finance: State Banking Sector (22 Jan 2013)

Michael Noonan: IBRC has informed me that the bank maintains a variety of bank accounts with correspondent banks across a variety of currencies. These accounts are used to enable customer loan repayments, derivative settlements, payment of supplier invoices, foreign currency settlements, etc. At 31 December 2012 IBRC maintained approximately 30 active bank accounts with correspondent banks. All bank accounts...

Written Answers — Department of Finance: Property Taxation (22 Jan 2013)

Michael Noonan: Exemptions from the Local Property Tax are only applicable in the circumstances provided for in the legislation. I have no plans to exempt properties adversely affected by radon gas from the tax.

Written Answers — Department of Finance: Property Taxation (22 Jan 2013)

Michael Noonan: According to Budget estimates the Local Property Tax is expected to generate an overall yield of €250 million in 2013 and €500 million in 2014. I am advised by the Revenue Commissioners that it is not possible to provide a breakdown of these estimates on a county basis until Local Property Tax returns are filed and payments made by liable persons.

Written Answers — Department of Finance: Property Taxation (22 Jan 2013)

Michael Noonan: While I believe that there is considerable merit in making more information available to members of the public about the sources of Exchequer income and its expenditure, I must be conscious of the costs and practicalities of issuing every household who pays Local Property Tax with an annual receipt. I believe that transparency is to be welcomed. If people are better informed then they...

Written Answers — Department of Finance: Ministerial Staff (22 Jan 2013)

Michael Noonan: No family members and or related party members are employed in my Department.

Written Answers — Department of Finance: Product Classification (22 Jan 2013)

Michael Noonan: I am advised by the Revenue Commissioners that they are examining the classification of an alcoholic product presented by the company in question and have sought the assistance of the State Laboratory as part of this process. The Commissioners expect to complete this examination within the next two to three weeks and advise their classification decision to the company.

Written Answers — Department of Finance: Departmental Staff Remuneration (22 Jan 2013)

Michael Noonan: The Commission for Energy Regulation was initially established as the Commission for Electricity Regulation under the Electricity Regulation Act, 1999. The name was changed to the Commission for Energy Regulation and the functions expanded by the Gas (Interim Regulation) Act, 2002. Under that Act, its remit was expanded to include the regulation of the natural gas sector. The Commission is...

Written Answers — Department of Finance: Mortgage Arrears (22 Jan 2013)

Michael Noonan: The Central Bank of Ireland compiles and publishes data on a quarterly basis on mortgage arrears, repossessions and mortgage restructures. The Central Bank commenced the publication of such data for the quarter ending September 2009 in respect of principal dwelling (PDH) mortgages and from September 2012 also in respect of “buy to let” (BTL) mortgages. The Central Bank has...

Written Answers — Department of Finance: Financial Transaction Tax (22 Jan 2013)

Michael Noonan: The upcoming vote at ECOFIN relates to the Council Decision authorising enhanced co-operation in the area of financial transaction tax (FTT) and not an FTT directive itself. Should authorisation on enhanced co-operation be granted, the Commission will bring forward a revised proposal for an FTT to be introduced in participating member states. Ireland currently holds the role of Presidency...

Written Answers — Department of Finance: Banks Recapitalisation (22 Jan 2013)

Michael Noonan: As the Deputy is aware the Department has put in place Relationship Framework agreements for each financial institution in which the State has a shareholding. The framework documents define the relationship between the Minister and the relevant institutions. These documents are structured to ensure that the institutions operate on a commercial basis and independent of the Minister in respect...

Written Answers — Department of Finance: Additional Voluntary Contributions (22 Jan 2013)

Michael Noonan: In my Budget 2013 speech, I announced that I would make provision in Finance Bill 2013 for persons making Additional Voluntary Contributions (AVCs) used to supplement their main scheme retirement benefits to 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...

Written Answers — Department of Finance: Financial Services Ombudsman (22 Jan 2013)

Michael Noonan: Firstly, I would like to confirm to the Deputy that the Financial Services Ombudsman is independent in the performance of his duties and it would not be appropriate for me to comment in any way on the decisions he takes or on the appeals to the High Court in relation to those decisions. Neither could I comment in any way regarding a ruling of the High Court nor do I provide clarification on...

Written Answers — Department of Finance: Appointments to State Boards (22 Jan 2013)

Michael Noonan: In response to the Deputy's question the following appointments were made in respect of bodies under the aegis of my Department since March 2011. Fiscal Advisory Council The following people were appointed to the Fiscal Advisory Council on 7th July 2011: Mr Sebastian Barnes Professor Alan Barrett Dr Donal Donovan Professor John McHale, Chair Dr Roisin O'Sullivan As Minister for...

Other Questions: Tax Yield (17 Jan 2013)

Michael Noonan: I do not mean this disrespectfully, but Deputy Boyd Barrett should re-read the reply of mine to which he referred earlier. He is confusing income and profit. While the income figure was €70 million, there is an entitlement to deduct costs from it which is how the profit figure is arrived at. The computation should be on the profit which will give a different rate. According to...

Other Questions: Corporation Tax (17 Jan 2013)

Michael Noonan: The country holding the Presidency and its representatives chair meetings. In their capacity as chairmen, they are expected to act as honest brokers and advance the European agenda rather than their particular national agenda. When I chair ECOFIN meetings, the Minister of State at the Department of Finance, Deputy Brian Hayes, represents Ireland. That has always been the practice. I will...

Other Questions: Corporation Tax (17 Jan 2013)

Michael Noonan: I do not believe so. The Deputy referred to the risk of financial services companies migrating from Dublin to London. That is a risk, but what is being examined in terms of a financial transaction tax is stamp duty on certain transactions. We already charge stamp duty of 1% on transactions of shares, a measure which is analogous to what is being discussed. However, once it is introduced,...

Other Questions: Tax Yield (17 Jan 2013)

Michael Noonan: I am precluded from discussing the tax affairs of a particular individual or company. However, I am aware of recent media reports which refer to the ways some companies structure their international tax affairs to minimise their tax costs and the fact that some of these reports make reference to Irish companies being part of these structures. I understand some of these reports have...