Results 21,861-21,880 of 27,019 for speaker:Michael Noonan

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: I put the speaking note on the record on Committee Stage so I will do so as a courtesy to those who are here this evening. The amendment, in the names of Deputies Pearse Doherty and Tóibín, proposes that a report be prepared on options available with regard to ensuring that the PPT will apply to all earnings from all petroleum revenue, regardless of the discovery date of the...

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: The reason we introduced the sections that provide for a new regime for drilling for offshore oil and gas reserves is, as Deputy Rabbitte pointed out, that Wood Mackenzie recommended against retroactive impositions, as did the all-party committee. The Government relied on the Wood Mackenzie report and Deputy Rabbitte's advice. I am very pleased that no one moved an amendment to change the...

Written Answers — Department of Finance: Mortgage Lending (24 Nov 2015)

Michael Noonan: As the Deputy is aware, the Central Bank of Ireland, in line with its mandate to safeguard financial stability, has put in place new macro-prudential measures for residential mortgage lending effective from last February. These measures apply proportionate loan-to-value and loan-to-income limits to mortgage lending by regulated financial service providers in the Irish...

Written Answers — Department of Finance: Credit Unions Services (24 Nov 2015)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit...

Written Answers — Department of Finance: Banking Sector (24 Nov 2015)

Michael Noonan: The Deputy will be aware that I, in my role as Minister for Finance, have no direct function in the relationship between the banks and their customers. I have no statutory function in relation to the commercial  decisions made by individual institutions at any particular time and these are taken by the board and management of the relevant institution. ...

Written Answers — Department of Finance: Tax Code (24 Nov 2015)

Michael Noonan: In my Finance Bill speech I announced that an employer may provide an employee with a single annual non-cash benefit to a maximum of €500 without applying PAYE, PRSI and USC to that benefit. Last week I brought forward a Committee Stage Amendment that would allow the measure to apply from date of publication of the Finance Bill, 22nd October 2015. I have been informed by the...

Written Answers — Department of Finance: Living City Initiative (24 Nov 2015)

Michael Noonan: Applications for the Living City Initiative are only required to be made to the relevant local authority under the residential element of the scheme. Applications are not required to be made under the commercial element of the scheme. I am advised by the Revenue Commissioners that, since the launch of the scheme in May, based on information received from the councils to date, the number of...

Written Answers — Department of Finance: Pensions Levy (24 Nov 2015)

Michael Noonan: The 0.15% stamp duty levy on pension funds will, as I have previously confirmed, cease at the end of 2015.

Written Answers — Department of Finance: Property Tax Administration (24 Nov 2015)

Michael Noonan: Section 38 of the Finance (Local Property Tax) Act 2012 (as amended) provides for the application of a 10% surcharge on Income Tax, Corporation Tax and Capital Gains Tax liabilities where there are outstanding Local Property Tax (LPT) Returns or payments. The surcharge is in addition to the amount due in LPT and any accrued interest (8% per annum) on foot of late payment of LPT. Where a...

Written Answers — Department of Finance: Credit Unions Regulation (24 Nov 2015)

Michael Noonan: The Government established the Commission on Credit Unions in 2011 to review the future of the credit union movement and to make recommendations, while taking account of their not-for-profit mandate, their volunteer ethos and community focus, and paying due regard to the need to fully protect members' savings and financial stability. The Commission presented its Report on 31 March 2012...

Written Answers — Department of Finance: Licensed Moneylenders (24 Nov 2015)

Michael Noonan: I have been advised by the Central Bank that a licensed moneylender carries on the business of moneylending under the specific terms of the license granted by the Central Bank. Customers of licensed moneylenders are protected by a range of provisions that moneylenders must adhere to, including but not limited to, the Consumer Protection Code for Licensed Moneylenders, the European...

Written Answers — Department of Finance: Universal Social Charge Application (24 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they have reviewed the liability of the person concerned to Universal Social Charge (USC) having regard to the circumstances of the person as known to them. I am further advised by Revenue that it would appear that the person concerned is paying the correct amount of USC. The person concerned can request a review of his tax liability for...

Written Answers — Department of Finance: IBRC Operations (24 Nov 2015)

Michael Noonan: Neither I nor the Special Liquidators of IBRC are in a position to comment on the intentions or subsequent actions of third party purchasers (or the safeguards they have employed) once they have purchased loan assets from IBRC. Furthermore, I have no legal basis to place restrictions on any business or employment interests of former employees or directors of IBRC.

Written Answers — Department of Finance: Small and Medium Enterprises Supports (24 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 162 and 164 together. The Action Plan for Jobs 2015 contains a commitment to increase engagement with the EIF in developing and implementing mechanisms designed to maximise the provision of enhanced financing to SMEs. I understand that the Department of Jobs, Enterprise and Innovation as the lead Department responsible for the Action Plan for Jobs (and...

Written Answers — Department of Finance: Tax Yield (24 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the Mineral Oil Tax (MOT) and VAT content of a litre of petrol and diesel, based on current average prices, are shown in the table below. Commodity Price per Litre Mineral Oil Tax Content VAT Content Total Tax Content (1 Litre) (Cent) (Cent) (Cent) (Cent) Petrol 130.9 58.771 24.477 83.248 Diesel 119.9 47.902 22.420 70.322 The Deputy may be...

Written Answers — Department of Finance: Corporation Tax (24 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 165 and 166 together. I am informed by the Revenue Commissioners that the numbers of companies with a corporation tax payment within the bands requested in 2014, the latest full calendar year for complete data are available, are as set out in the table below. The Deputy should note that the table only includes companies that made a tax payment in respect of...

Written Answers — Department of Finance: Government Expenditure (24 Nov 2015)

Michael Noonan: Non-voted expenditure is sometimes referred to as central fund expenditure and includes such items as debt servicing costs, EU budget contributions, Judges' pay, the Houses of the Oireachtas Commission and the Irish Fiscal Advisory Council.  Non-voted means that the Dáil has already agreed that the expenditure can be made without being voted annually in the Estimates process. ...

Written Answers — Department of Finance: Tax Credits (24 Nov 2015)

Michael Noonan: There were no changes made to tax credits in Budget 2015. However the USC rates and thresholds were changed for 2015. I am advised by the Revenue Commissioners that, having regard to the circumstances of the person concerned, as known to them, the USC payable would have been expected to reduce by approximately €9 per month, as compared to 2014. The person concerned can request a...

Written Answers — Department of Finance: National Treasury Management Agency (24 Nov 2015)

Michael Noonan: In 1991, 2007 and 2012, the Agency entered into lease agreements of varying duration until 2017, 2026 & 2027, in respect of office accommodation at Treasury Building, Grand Canal Street, Dublin 2.  The gross annual rental cost under these operating leases is €2.8 million excluding a reverse premium of €0.5 million per annum. The rent, payable quarterly is paid...

Written Answers — Department of Finance: NAMA Staff Data (24 Nov 2015)

Michael Noonan: All NAMA staff are employees of the NTMA and under section 42 of the National Asset Management Agency Act 2009, the NTMA assigns staff to NAMA. Staff numbers assigned to NAMA from 2010 to 2015 are contained in the table below.  These figures represent the number of staff employed at the end of the relevant period. Year  Number of staff End of 2010 100 End of 2011 193 End of...