Results 18,921-18,940 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Capital Expenditure (4 Dec 2012)

Michael Noonan: The Capital Budget on my Vote Group is allocated as follows: - Office of the Revenue Commissioners - €4.85 million - Office of the Minister for Finance - €0.15 million My Department expects to use its allocation in December. The Office of the Revenue Commissioners has indicated that variance against profile in October is a timing issue. It is expected that the full...

Written Answers — Department of Finance: Financial Services Ombudsman (4 Dec 2012)

Michael Noonan: The information requested by the Deputy has been supplied by the Financial Services Bureau and is set out below in tabular form. As the Deputy is aware, the Financial Services Ombudsman is independent in the performance of his duties. Year New Complaints Received Upheld /Part Upheld 2007 4374 378 2008 5947 417 2009 7619 922 2010 7230 613 2011 7287 828 2012 7462 757

Written Answers — Department of Finance: Banking Sector Remuneration (4 Dec 2012)

Michael Noonan: As the Deputy will be aware officials in my Department and Mercer have been working on a remuneration review of the Covered Banks and do not currently have the information you have requested. My officials and the banks have provided a very significant level of detail on remuneration and pensions in the Covered Banks and other institutions in tight timeframes. We have received over 50...

Written Answers — Department of Finance: Departmental Agencies (4 Dec 2012)

Michael Noonan: I refer the Deputy to my reply to his question on the pension entitlements of the Chief Executives of the National Treasury Management Agency (NTMA) and National Asset Management Agency (NAMA) to which I replied as follows on Thursday, 29 November 2012 – "The Chief Executives of the NTMA and NAMA are members of the NTMA defined benefit superannuation scheme. Pension benefits for...

Written Answers — Department of Finance: AIB Consultancy Contracts (4 Dec 2012)

Michael Noonan: The Deputy will be aware that the Bank’s policy in relation to professional fees is a matter for the management and board of the institution. I have no role in the day-to-day commercial and operational decisions of the banks, which include these matters. These decisions are taken by the board and management of the institution. Notwithstanding the fact that the State is a significant...

Written Answers — Department of Finance: Tax Collection (4 Dec 2012)

Michael Noonan: I am advised by the Revenue Commissioners that customers can use both debit and credit cards to make tax payments via Revenue’s Online Service (ROS). This is an internet facility that provides tax payers with a secure and efficient facility to pay tax liabilities and file tax returns. The debit and credit cards that can be used to make tax payments via ROS are VISA, MasterCard and...

Written Answers — Department of Finance: Budget 2012 (4 Dec 2012)

Michael Noonan: With regard to budgetary matters, when focusing on the primary objectives of reducing the deficit and returning sustainability to the public finances, it has been of vital importance to the Government to spread the burden of the adjustments made in as fair and equitable a manner as possible, while also seeking to minimise their negative impact on economic growth. A distributional analysis of...

Written Answers — Department of Finance: Mortgage Debt (4 Dec 2012)

Michael Noonan: I have received the following response from Bank of Ireland:- Bank of Ireland has given very comprehensive mortgage disclosures in its recent annual and interim accounts, and the Interim Management Statement (IMS) dated 13 November. It has provided additional mortgage related disclosure as part of its response to Parliamentary Question Number 51262. Specifically, Bank of Ireland has given...

Written Answers — Department of Finance: Tax Credits (4 Dec 2012)

Michael Noonan: I assume that the Deputy is referring to the ‘key employee’ provision of the R&D tax credit which allows the tax credit to be transferred to a person key to carrying out of R&D in order to encourage them to drive R&D projects and to bring them to Ireland. This provision is restricted to a person who owns less than 5% of the company. The objective of the provisions...

Written Answers — Department of Finance: Promissory Notes (4 Dec 2012)

Michael Noonan: I propose to take Questions Nos. 144 and 170 together. As the Deputy is aware, the promissory note repayments, both capital and interest, are made to IBRC. As IBRC is wholly owned by the State, any future return to the State will be by way of dividends from IBRC or from the projected final net asset position for IBRC. IBRC provides details of their outstanding liabilities in their published...

Written Answers — Department of Finance: Banks Recapitalisation (4 Dec 2012)

Michael Noonan: As previously outlined to the Deputy, it is not possible to identify the senior bondholders invested in specific institutions at a given point in time. As these securities are freely tradable once issued it is not possible to trace their ultimate ownership. These securities are traded and dealt through market participants and settled by clearing house systems. An issuer does not have any...

Written Answers — Department of Finance: Tax Code (4 Dec 2012)

Michael Noonan: I assume the Deputy to refer to the proposal to introduce a price cap of the pre-tax price of tobacco. Preliminary advice on this suggests that any proposal to interfere with the ability of manufacturers to set the maximum price level for tobacco is a breach of Council Directive 2011/64/EU on the structure and rates of excise duty applied to manufactured tobacco. In the circumstances,...

Written Answers — Department of Finance: Vehicle Registration Tax (4 Dec 2012)

Michael Noonan: I am advised by the Revenue Commissioners that Section 132 of the Finance Act, 1992 provided for the introduction, from 1 January 1993, of “a duty of excise, to be called vehicle registration tax”. I can assure the Deputy that the legislation in relation to vehicle registration tax is compatible with the provisions of the Treaty on European Union and the Treaty on the...

Written Answers — Department of Finance: Tax Collection (4 Dec 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the person in question is in receipt of an occupational pension and a pension from the Department of Social Protection. As the person’s total income exceeds the exemption limit of €18,000 he is liable to income tax.

Written Answers — Department of Finance: Pre-Budget Submissions (4 Dec 2012)

Michael Noonan: The facility to cost Budget proposals and policies is one made available by my Department, on request, to all opposition parties. No party to date has availed of this facility in relation to Budget 2013. In advance of Budget 2012 one such request was received. This was passed to the relevant officials, examined in detail and costed accordingly. My Department receives Pre-Budget...

Written Answers — Department of Finance: Mortgage Interest Relief (4 Dec 2012)

Michael Noonan: The position is, as I stated in my Budget day speech on 6 December 2011, and on many occasions in this House since, that mortgage interest relief for principal private residences will no longer be available to house purchasers who purchase after the end of 2012 and will be fully abolished from 2018. Tax relief on interest paid on qualifying home loans taken out in the period 1 January 2004 to...

Written Answers — Department of Finance: Budget Consultation Process (4 Dec 2012)

Michael Noonan: In advance of Budget 2013 I met, along with Minister Howlin, a number of representative organisations. These were IBEC, ICTU, the IFA, the ICMSA, the Construction Industry Federation and the Community and Voluntary Pillar. The Pillar, as the Deputy will be aware, comprises seventeen separate organisations. In addition, I met with other organisations including the Vintners' Federation of...

Written Answers — Department of Finance: Tax Code (4 Dec 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the full year yield, estimated by reference to 2013 incomes, from extending the additional universal social charge of 3%, which is currently applicable to self-employed income in excess of €100,000, to all income earners at this level of income would be of the order of €71 million. The Universal Social Charge is an individualised...

Written Answers — Department of Finance: Tax Code (4 Dec 2012)

Michael Noonan: I assume that the Deputy is referring to the current annual earnings cap of €115,000 which operates to limit the level of tax-relieved personal pension contributions in any one year. The annual earnings cap acts, in conjunction with age-related percentage limits of annual earnings, to put a ceiling on the annual amount of tax relief an individual taxpayer can obtain on pension...

Written Answers — Department of Finance: Tax Code (4 Dec 2012)

Michael Noonan: I understand from the Revenue Commissioners that EU Directive 92/ 83 - EEC, which governs the structure of alcohol taxation, does not provide for different tax treatment of alcohol products depending on where the product is sold. Therefore, it does not allow for the introduction of such a levy.