Results 18,781-18,800 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: European Council Meetings (18 Dec 2012)

Michael Noonan: The Economic and Financial Affairs Council (Ecofin) usually meets monthly, although it can meet more frequently, if required. Formal Ecofin meetings are held in Brussels or Luxembourg; Informal Ecofin meetings are convened in the country holding the six-monthly Presidency (usually April and October). Separately to the Ecofin meetings, Eurogroup meetings usually take place on the evening...

Written Answers — Department of Finance: Property Taxation (18 Dec 2012)

Michael Noonan: I propose to take Questions Nos. 159, 164 and 194 together. Under section 11 of the Finance (Local Property Tax) Bill, the personal representative of the estate of a person who was a liable person for Local Property Tax will be the liable person in relation to a relevant residential property. The reason for making a personal representative a liable person is to prevent the avoidance of...

Written Answers — Department of Finance: Tax Reliefs (18 Dec 2012)

Michael Noonan: The tax changes introduced in Budgets 2012 and 2013 which have particular relevance to the agricultural sector are set out below. Budget 2012 Extension of the existing VAT Refund Order for flat-rate farmers to include a refund on the purchase of wind turbines Budget 2012 provided for an extension to the VAT refund order for unregistered farmers to wind turbines and other micro-energy...

Written Answers — Department of Finance: Tax Yield (18 Dec 2012)

Michael Noonan: Budget 2013 introduced four measures relating to the taxation of the farming sector, none of which incur extra tax on the agricultural sector. The Budget provided for the extension of the general rate of stock relief of 25% for a further three years to 2015; and for an extension of the young trained farmer (YTF) rate of stock relief of 100% for a further three years to 2015, subject to...

Written Answers — Department of Finance: Property Taxation (18 Dec 2012)

Michael Noonan: I propose to take Questions Nos. 163 and 165 together. I understand the estate which is the subject of Deputy Hannigan's second question above has been affected by "pyritic heave". The Government is conscious of the very real costs and difficulties faced by people whose homes have been affected by pyrite. My colleague the Minister for Environment, Community and Local Government has...

Written Answers — Department of Finance: Property Taxation (18 Dec 2012)

Michael Noonan: The Local Property Tax will be a self-assessed tax based on the market value of a residential property. There will be a system of market value taxable bands with the initial band covering €0-€100,000 and bands of €50,000 width up to €1,000,000 in value. The tax liability will be calculated by applying the tax rate of 0.18% to the mid-point of the band....

Written Answers — Department of Finance: Revenue Commissioners Investigations (18 Dec 2012)

Michael Noonan: One of the primary roles of the Revenue Commissioners is to ensure that all taxpayers meet their tax and duty obligations. I am advised by the Commissioners that they meet that objective by selecting cases for intervention based on the presence of various risk indicators and other information available. Revenue's electronic risk ranking system categorises taxpayers in accordance with...

Written Answers — Department of Finance: Banking Operations (18 Dec 2012)

Michael Noonan: I have received the following responses to your question from the covered institutions. BOI Bank of Ireland deals with any queries related to matters such as instances of potential overpayment on an individual customer basis. Any potential issue, which affects a greater number of customers, is dealt with through established processes and procedures, in consultation with regulators, where...

Written Answers — Department of Finance: Pension Fund Levy (18 Dec 2012)

Michael Noonan: The pension fund levy applies at a rate of 0.6% per annum to the market value, on the valuation date, of assets under management in pension funds and pension plans approved under Irish tax legislation. The levy will operate for a period of 4 years only (2011 to 2014) and the legislative provisions giving effect to the levy (section 4 of Finance (No 2) Act 2011) were specifically drafted to...

Written Answers — Department of Finance: Tax Reliefs (18 Dec 2012)

Michael Noonan: I am informed by the Revenue Commissioners that relief from capital gains tax was available where a farmer sold land and used the proceeds to purchase other land for use in farming. This relief (commonly referred to as roll-over relief) was a deferral of the capital gains tax until the replacement land was sold or ceased to be used for the purposes of farming. However this relief ceased...

Written Answers — Department of Finance: Universal Social Charge (18 Dec 2012)

Michael Noonan: The position is that the changes I announced on Budget Day in relation to the liability of individuals to the Universal Social Charge (USC), apply to those individuals who are 70 years of age and over or medical card holders, whose income is €60,000 and above for 2013. It should be noted that the State Pension and other similar type payments made by the Department of Social Protection...

Written Answers — Department of Finance: National Asset Management Agency (18 Dec 2012)

Michael Noonan: As advised in my response to your Parliamentary Question of 11th December 2012 (55389/12), I do not intend to go beyond the extensive information that NAMA, based on legal advice, has already made publicly available in respect of this transaction.

Written Answers — Department of Finance: National Asset Management Agency (18 Dec 2012)

Michael Noonan: I am advised by NAMA that its Annual Report for 2011, which is available on the NAMA website, www.nama.ie, provides details on its organisational structure, staffing resources and operating costs. Details of remuneration bands have been set out in recent in response to Parliamentary Question 47865/12. The NTMA, which assigns staff to NAMA, does not disclose details of the remuneration of...

Written Answers — Department of Finance: Banking Sector Remuneration (18 Dec 2012)

Michael Noonan: Under the Central Bank Act 1942 and the Statute of the European System of Central Banks (ESCB), the Government has no role in the setting of terms and conditions of employment in the Central Bank. The Act and the Statute guarantee the independence of the Governor in carrying out his ESCB related functions and control over pay and conditions is seen as a necessary part of that independence....

Written Answers — Department of Finance: Banking Sector Remuneration (18 Dec 2012)

Michael Noonan: Following the appointment of the current CEO of IBRC in September 2009, the entire executive of the Bank was replaced with an appropriately skilled senior management team, to lead the newly formed IBRC (the combined former Anglo Irish Bank and former INBS) through the process of wind down. I have been informed that external search consultants were utilised in open and transparent recruitment...

Written Answers — Department of Finance: National Asset Management Agency (18 Dec 2012)

Michael Noonan: I am advised by NAMA that the financial quantum of loans net of provisions managed by it is disclosed in the Section 55 accounts to 30th June, which are published on the NAMA website, www.nama.ie. IBRC’s 2012 Interim Report, which covers the period from January to June 2012, discloses the information sought. The IBRC Interim Accounts can be found at: .

Written Answers — Department of Finance: Banks Recapitalisation (18 Dec 2012)

Michael Noonan: IBRC is working in accordance with a plan which has been approved by the EU for the work out of the organisation by 2020. It is important in this context to be clear the interim accounts produced by the bank refer to “winding up of the loan book in an orderly manner by 2020” as opposed to a winding up of the bank. This difference is important for technical reasons and also to...

Written Answers — Department of Finance: National Asset Management Agency (18 Dec 2012)

Michael Noonan: I am advised by NAMA that profit after tax was disclosed in the Section 55 accounts to 30th June 2012, which are published on the NAMA website, www.nama.ie. IBRC’s 2012 Interim Report, which covers the period from January to June 2012, discloses the information sought. The IBRC Interim Accounts can be found at: .

Written Answers — Department of Finance: Banks Recapitalisation (18 Dec 2012)

Michael Noonan: The Shareholding Management Unit of my Department monitors the performance of IBRC on a regular basis. The Unit fulfils this duty through a number of instruments including a Monthly Operating Plan Report, agreed between my Department and IBRC, which provides a detailed analysis of the financial performance of IBRC including its capital position, balance sheet deleveraging, asset quality and...

Written Answers — Department of Finance: Banks Recapitalisation (18 Dec 2012)

Michael Noonan: Many financial institutions will compete for suitably experienced staff in the Irish market, whether it is with the Irish covered banks, non-Irish banks or specialist financial services platforms. However I would not characterise the level of competition for resources between IBRC and NAMA as anything other than normal market competition.