Results 20,621-20,640 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Clearance Certificates (16 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that following direct contact with the person concerned, his tax affairs are now regularised to Revenue's satisfaction and a tax clearance certificate will be issued within the next few days.

Written Answers — Department of Finance: IBRC Liquidation (16 Jul 2015)

Michael Noonan: As the Deputy will be aware the terms of reference of the proposed Commission of Investigation in relation to IBRC include the following explicit term of reference (1b) dealing with issues of public concern: The Commission shall investigate all transactions, activities and management decisions, other than those relating solely to the acquisition of assets by NAMA which occurred during the...

Written Answers — Department of Finance: National Debt (16 Jul 2015)

Michael Noonan: The information requested by the Deputy is available on Eurostat's and the OECD's websites. For convenience the requested information is reproduced in the following tables. The latest available data on Eurostat's website is for 2014 and is presented in table 1. For comparative purposes with the OECD's data, the 2013 ratio is also shown. The OECD's website is not fully populated with data...

Written Answers — Department of Finance: Tax Code (16 Jul 2015)

Michael Noonan: Regarding the PAYE aspect of the Deputy's question, I am informed by Revenue that applying the Income Tax rates, bands and credits which were in effect in 2008 to the estimated income tax base for 2015 would cost the Exchequer approximately €745 million. I am advised that this is a highly indicative figure, it covers all Income Tax cases (PAYE and self-employed) and does not take into...

Written Answers — Department of Finance: Tax Collection (16 Jul 2015)

Michael Noonan: I am advised by Revenue that a wide range of statistical information is available on the Revenue statistics webpage: . In relation to the Deputy's Question, the latest detailed information on the tax receipts can be found in under the heading Revenue Net Receipts by Taxhead on an annual basis. The relevant lines are Universal Social Charge and Local Property Tax (LPT). The LPT receipts...

Written Answers — Department of Finance: Banking Sector Data (16 Jul 2015)

Michael Noonan: In the period since 2008, significant burden-sharing has been achieved with subordinated/junior bondholders through Liability Management Exercise (LME) transactions completed by the Covered Banks. The purpose of the LMEs was to create additional core tier 1 capital and to strengthen the quality of the capital base of the Banks. Prior to the Central Bank's PCAR, burden sharing with...

Written Answers — Department of Finance: Banking Sector Data (16 Jul 2015)

Michael Noonan: As requested by the Deputy, I can confirm that total receipts of €12.74bn have been received to date, since the bank guarantee and recapitalisation of the banks, from the disposal of investments, investment income, fees and the bank levy introduced in Budget 2014. The tables provides details in this regard for the benefit of the Deputy: 1) Disposal of investments Date Bank ...

Written Answers — Department of Finance: Exchequer Savings (16 Jul 2015)

Michael Noonan: The Government has achieved significant improvements in the terms of our EU/IMF programme loans since they were initially agreed in late 2010. The savings arising from these changes can be broken down into two elements, cash savings and a reduction in our borrowing requirement over a period of time. In 2011, we reached agreement to reduce the cost of our EFSF loans. Similar...

Written Answers — Department of Finance: Universal Social Charge Yield (16 Jul 2015)

Michael Noonan: Section 531AAD of the Taxes Consolidation Act 1997 provides for a charge on bonus payments over €20,000 paid to employees of financial institutions that received financial support from the State under the Credit Institutions (Financial Support) Act 2008. This "excess bank remuneration charge", is incorporated into the Universal Social Charge and applies in all respects as if it was...

Written Answers — Department of Finance: Amusement Machine Licences (16 Jul 2015)

Michael Noonan: I am informed by Revenue that the number of amusement machine licences issued, for the years 2011 to 2014 and for 2015 up to 15th July are as set out in Table 1. The receipts for each licence type for these periods are as set out in Table 2. The total number of amusement machine licences currently held is 2016. Table 1  Number of Licences Issued 2011 2012 2013 2014 2015 Number of 3...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Michael Noonan: Thank you very much.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Michael Noonan: Thank you very much, Mr. Chairman. I welcome the opportunity to appear before this very important committee. The banking crisis has had a profound impact on country and it is essential that we learn from the mistakes of the past to ensure that they are not repeated. It was unprecedented in its scale and the measures that were required to address it and I will do my best to help the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Michael Noonan: Well, first of all, I agree with you that the widespread availability of tax breaks for property investment was a contributory cause to the banking crisis and, consequently, to the fiscal crisis. The property market was stimulated beyond what an economy of our size could justifiably bear and it led, in the first instance, to ... when the property bubble burst, it led to a situation where the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Michael Noonan: This was an entirely different incentive. This incentive was to enhance the possibility that people with a lot of capital would buy vacant properties and underused properties in Ireland. It wasn't for building; it was for purchase. And it was when nobody was buying anything and there was properties all over Dublin, either not used or underused. So, it was a tax incentive to purchase, to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Michael Noonan: Yes, I think the inquiry probably has that information already because it was provided in a number of PQs and the PQs were available to the inquiry, but I'll provide it again if the inquiry think they don't have that information. On a general comment, you know, there were fees paid on the guarantee, for example. The much maligned guarantee was given to banks but they have to pay fees on...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Michael Noonan: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Michael Noonan: There was a briefing. The normal process that we had from the start of the Government was to brief the Economic Management Council first, the EMC. That was Minister Howlin and the Taoiseach and the Tánaiste and myself. But that would be reinforced subsequently then, because we didn't have the constitutional authority to make decisions. So, I would have carried ... I would have taken...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Michael Noonan: On the Tuesday before I announced the recapitalisation of the banks on the Thursday, which I think was 30 March, the end of March anyway.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Michael Noonan: Yeah, I mean ... you referenced something I said in the Dáil in November of 2010. I don't recall saying it. But my position on burning bondholders or haircuts or burden-sharing, whatever phrase you like to use, has been consistent. I became finance spokesman for my party in the summer of 2010. And all the way through - and you can check the record - I said that I thought that we...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Michael Noonan: And then, when I went to Government again, I was given the authority to consult with the European authorities, and particularly with the ECB, to see if I could get their consent. So when I was drafting speeches then for going into the Dáil -----