Results 20,221-20,240 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Unions Regulation (23 Jun 2015)

Michael Noonan: The imposition of lending restrictions is the responsibility of the Registrar of Credit Unions, who is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. As Minister for Finance, my...

Written Answers — Department of Finance: Tax Rebates (23 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that 1,083,104 PAYE Reviews were carried out in 2014. This includes a small number of reviews for 2014 but mainly refers to reviews for 2013 and earlier years. The value of refunds paid amounted to €444 million. It is worth noting that there are many reasons why PAYE taxpayers request a review; for example claims for medical expenses incurred...

Written Answers — Department of Finance: VAT Exemptions (23 Jun 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the service provided by Personal Insolvency Practitioners does not qualify for exemption in accordance with the VAT Directive, Irish VAT law, and relevant decisions of the European Court of Justice.  Therefore, like other insolvency services such as those provided by liquidators, receivers and examiners, the service provided by a Personal...

Written Answers — Department of Finance: Loan Books Purchasers (23 Jun 2015)

Michael Noonan: As the Deputy will be aware, borrowers whose loans are sold to unregulated entities will be protected by the Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 when it is enacted.  The purpose of the Bill is to ensure that consumers retain the protections they had prior to the sale of their loan.  This Bill will require entities dealing with the consumer...

Written Answers — Department of Finance: Small and Medium Enterprises Debt (23 Jun 2015)

Michael Noonan: The Revenue Commissioners have a strong focus on making sure that every taxpayer and business complies with the obligation to pay the right amount of tax or duty, including any outstanding interest or penalties, in full and on time.  That is an appropriate and correct focus for the Commissioners and one that I fully endorse because timely tax compliance is of critical importance to the...

Written Answers — Department of Finance: Credit Availability (23 Jun 2015)

Michael Noonan: This Government recognises that small businesses play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy since 2011 has been focused on ensuring that all viable SMEs have access to an appropriate supply of credit facilities from a diverse range of bank and non-bank sources. Having completed a process of deleveraging, both AIB...

Written Answers — Department of Finance: Credit Availability (23 Jun 2015)

Michael Noonan: The Government recognises that small businesses, including those in the hotel and catering industry, play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy since 2011 has been focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. The...

Written Answers — Department of Finance: Credit Availability (23 Jun 2015)

Michael Noonan: The Government recognises that small businesses, including those in the manufacturing and services sector, play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy since 2011 has been focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. My...

Written Answers — Department of Finance: Price Inflation (23 Jun 2015)

Michael Noonan: The most recent data published by the CSO indicate that national residential property prices increased by 15.8 per cent over the 12 months to April 2015. Focusing on more recent house price developments, prices decreased by 0.9 per cent in the first quarter of 2015. Data published by the Banking and Payments Federation Ireland (BPFI) indicate a continued...

Written Answers — Department of Finance: Employment Rights (23 Jun 2015)

Michael Noonan: Labour and skills contribute significantly to the competitiveness of firms in Ireland and are a primary driver of productivity and long-term competitiveness. As a result, employers are best placed to decide on the appropriate skills needs of each individual firm. On the specifics of employers obligations, the Department of Jobs, Enterprise and Innovation has responsibility for labour...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (23 Jun 2015)

Michael Noonan: Since 2011 Government policy has focused on supporting SMEs in accessing an appropriate supply of financing from both bank and non-bank sources. The following provides an overview of some incentives to encourage access to credit for small business: - The Strategic Banking Corporation of Ireland has been established to encourage small business, as an additional means of ensuring that SMEs are...

Written Answers — Department of Finance: Credit Review Office Appeal Numbers (23 Jun 2015)

Michael Noonan: As the Deputy is aware, the Credit Review Office (CRO) assists SME or farm borrowers who have had an application for credit of up to €3m declined or reduced by AIB, Bank of Ireland or Ulster Bank (who joined the review process on 1 June 2015) and who feel that they have a viable business proposition. PTSB will shortly commence SME lending and will participate in the...

Written Answers — Department of Finance: Mortgage Lending (23 Jun 2015)

Michael Noonan: Recent data from Banking and Payments Federation Ireland show that €983 million in mortgage loans was drawn down in the first quarter of 2015 and that almost 90 per cent of this was in respect of owner occupier first time or mover purchasers.  From a regulatory perspective, the Central Bank of Ireland's macro prudential regulations for residential mortgage lending have...

Written Answers — Department of Finance: Economic Competitiveness (23 Jun 2015)

Michael Noonan: Substantial progress has been made in improving Ireland's competitiveness in recent years.  There has been a significant improvement in Ireland's economy-wide cost competitiveness. From the European Commission's most recent spring forecasts, it can be estimated that nominal unit labour costs in Ireland fell by nearly 8 percent between 2008...

Written Answers — Department of Finance: Bank Charges (23 Jun 2015)

Michael Noonan: As I stated in my reply to the Deputy in a previous Parliamentary Question (13599/15) on this subject on 1 April 2015, all credit institutions in Ireland are independent commercial entities. I have no statutory role in relation to the charges applied by credit institutions. Section 149 of the Consumer Credit Act 1995 requires that credit institutions, prescribed...

Written Answers — Department of Finance: EU Membership (23 Jun 2015)

Michael Noonan: The Government's position on developments in relation to UK membership of the EU has been clearly articulated, in particular by the Taoiseach and the Minister for Foreign Affairs and Trade: we very much want the UK to remain an integral member of the Union. This is important for both our economy and the ongoing development of excellent relations between Ireland and the UK. It is the...

Written Answers — Department of Finance: Tax Code (23 Jun 2015)

Michael Noonan: The tax treatment of payments made to an individual, or to that individual s estate, pursuant to the Magdalen Commission Report was set out in Section 77 of the Finance (No. 2) Act 2013.  In essence, a payment to a survivor, or to the estate of a survivor, is not a gift or inheritance and is therefore not subject to Capital Acquisitions Tax (CAT) at that point.  However, any...

Written Answers — Department of Finance: Tax Reliefs Eligibility (23 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned made a medical expenses relief claim on 12 June 2015.  Revenue has already been in contact with the person concerned regarding additional information required by them in the context of that application. When that information is received, Revenue will be in a position to consider the matter further.

Written Answers — Department of Finance: Tax Code (23 Jun 2015)

Michael Noonan: In Budget 2015, I introduced a new Road Map for Ireland's Tax Competitiveness which set out a comprehensive package of measures designed to reposition Ireland to reap the benefits of sustainable foreign direct investment in a changing international tax landscape. The Knowledge Development Box ('KDB'), was one of the measures announced in the Road Map.  I view the Knowledge...

Written Answers — Department of Finance: Tax Code (23 Jun 2015)

Michael Noonan: In Budget 2014, I announced a review of the tax supports available to the agricultural sector in Ireland in conjunction with the Minister for Agriculture, Food and the Marine Simon Coveney TD. The purpose of the review was to analyse the benefits of the various tax measures to the agriculture sector and the wider economy versus the costs and to ensure tax policy aligns with the objectives set...