Results 21,921-21,940 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Insurance Compensation Fund (26 Nov 2015)

Michael Noonan: I have been advised by the administrators of the company in question that the current estimated total cost to the Insurance Compensation Fund (ICF) is between €1.1 billion and €1.15 billion.  The establishment of the Insurance Compensation Fund is provided for by the Insurance Act 1964.  It applies to home, motor and commercial insurance.  The...

Written Answers — Department of Finance: Banking Licence Applications (26 Nov 2015)

Michael Noonan: The Central Bank has informed me that since 2011 the Central Bank of Ireland has received 2 applications for banking licences and granted both: - Dell Bank International Limited on 24 June 2013 - EBS Limited on its conversion from a Building Society on 1 July 2011.

Written Answers — Department of Finance: Tax Reliefs Data (26 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners it is estimated that the number of individuals availing of mortgage interest relief and the cost of this scheme in the years 2012, 2013 and 2014, the latest year for which data are available, is set out in the table below.  This information is on the basis of returns in respect of eligible tax relief at source accounts. Year Number of...

Written Answers — Department of Finance: Fuel Laundering (26 Nov 2015)

Michael Noonan: The Revenue Commissioners advise me that it is inherently difficult to estimate the extent of any illegal activity with confidence and it is not possible, therefore, to put a figure on the cost of diesel laundering to the Exchequer. However, the Commissioners recognised it as a significant problem from early 2011 and implemented a comprehensive strategy to tackle it, based on rigorous supply...

Written Answers — Department of Finance: Tax Data (26 Nov 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the Revenue statistics website, , includes detailed information for those tax expenditures where costs are available. These cost estimates are published in the Costs of Tax Expenditures (Credits, Allowances and Reliefs) tables on the website. Updates for later years will be published in due course. I am further advised that there are some...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (26 Nov 2015)

Michael Noonan: As the Deputy is aware, a number of reports were produced by Ernst and Young and McCann FitzGerald at the request of the Irish Nationwide Building Society Board in relation to governance matters in the former Irish Nationwide Building Society. Copies of all of these reports have been provided to the Central Bank of Ireland ( CBI ) under the terms of a protocol for limited disclosure agreed...

Written Answers — Department of Finance: Financial Services Regulation (26 Nov 2015)

Michael Noonan: The Central Bank has informed me that since the introduction of the Fitness and Probity Regime on 1 December 2011, the Central Bank has processed 11,936 pre-approval controlled function applications. 9,997 of these applications were approved, 1,391 were returned as incomplete submissions and 548 applications were withdrawn by either the applicant or proposing entity.

Written Answers — Department of Finance: National Pensions Reserve Fund Investments (26 Nov 2015)

Michael Noonan: Following the commencement of the relevant section of the National Treasury Management Agency (Amendment) Act 2014 on 22 December 2014 the assets of the National Pensions Reserve Fund (NPRF) became the assets of the Ireland Strategic Investment Fund (ISIF). The National Treasury Management Agency (NTMA) has advised that €7.146 billion represents both the final...

Written Answers — Department of Finance: Carbon Tax Yield (26 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the breakdown for the 2015 forecast for the Carbon Tax levy is shown in the table below. Carbon Tax 2015 €m Auto Diesel 154.31 Petrol 65.11 Aviation Gasoline 0.02 Kerosene 42.46 MGO 54.93 Fuel Oil 1.77 LPG (other) 7.11 Auto LPG 0.18 Natural Gas 51.67 Solid Fuel 37.41 Total 414.96 Please note that the provisional...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears Breaches (26 Nov 2015)

Michael Noonan: I am informed by the Central Bank that it does not publish statistics in relation to the number of complaints against banks for non-compliance with the CCMA. The Central Bank monitors compliance with the statutory consumer protection requirements through its ongoing engagement with firms, reviews and research, themed inspections, mystery shopping, and advertising monitoring.  The Central...

Written Answers — Department of Finance: Banks Recapitalisation (26 Nov 2015)

Michael Noonan: On the 26 February 2013, following a decision by the Cabinet, it was announced that the ELG Scheme would end for new liabilities at midnight on 28 March 2013. Liabilities incurred after January 2010 and before midnight on 28 March 2013 remain covered until their next maturity subject to a maximum term of 5 years (28 March 2018). At the date of ending the Scheme for new liabilities,...

Written Answers — Department of Finance: Tax Credits (26 Nov 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the information is as follows: Year Exchequer Cost Number of companies 2011 €261m 1,409 2012 €282m 1,543 2013 €421m 1,576 Published statistics regarding the Research and Development tax credit are available on the Revenue Statistics webpage at .  Information for the tax year 2014 is not yet available as the tax...

Written Answers — Department of Finance: Property Tax Collection (26 Nov 2015)

Michael Noonan: I am advised by Revenue that the €186 'de minimis' weekly welfare payment from the Department of Social Protection (DSP) is enshrined in legislation and any deductions, including deduction of Local Property Tax (LPT), cannot reduce that weekly payment below that amount. For the 2013 LPT half-year almost 14,000 property owners opted to meet their obligations through deduction at...

Written Answers — Department of Finance: Consultancy Contracts Data (26 Nov 2015)

Michael Noonan: The information requested by the Deputy is set out in the table below. Consultant/consultancy firm Description of the work provided Amount  Loman Cusack Design Design and branding work for Living City Initiative €11,667 Arthur Cox Legal advice (restructuring of Irish banking system etc) €754,202 Matheson Legal advice (banking sector/professional fees...

Written Answers — Department of Finance: Departmental Staff Remuneration (26 Nov 2015)

Michael Noonan: The Revenue Commissioners have provided me with the following information in response to the Deputy's question. Table 1: Revenue Commissioners - Current Staff Earnings  Currently Earning €100 - €150 €150 - €200 > €200 Total 22 3 0 The Revenue Commissioners have advised that Revenue staff salaries are paid in accordance with the relevant...

Written Answers — Department of Finance: Departmental Staff Remuneration (26 Nov 2015)

Michael Noonan: The Revenue Commissioners have provided me with the following information in response to the Deputy's question. Table 1: Revenue Commissioners - Staff Earnings at end 2012  2012 Grade Level €100 - €150 €150 - €200 > €200 Secretary General 0 3 0 Assistant Secretary 14 0 0 Principal 58 0 0 Total 72 3 0 The Revenue Commissioners have...

Written Answers — Department of Finance: Departmental Staff Remuneration (26 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they do not have any staff in receipt of retention payments.

Topical Issue Debate: Living City Initiative (1 Dec 2015)

Michael Noonan: I thank the Deputy for raising the issue. The Living City initiative was enacted in the Finance Act 2013 and commenced on 5 May 2015, following discussions with the European Commission to ensure that the initiative was in compliance with state aid rules. It is worth pointing out, therefore, that the initiative has been operational for just six months. The initial intention of the Living...

Topical Issue Debate: Living City Initiative (1 Dec 2015)

Michael Noonan: The Living City initiative is only seven months in operation after getting the clearance from the European Union to which the Deputy refers. There are seven applications in Dublin, one in Cork, none in Limerick, six in Waterford, two in Kilkenny and two in Galway. I presume when various tax advisers and professional groups in these cities learn more about the scheme, the take-up will be even...

Written Answers — Department of Finance: VAT Rate Application (1 Dec 2015)

Michael Noonan: I am advised by Revenue that the goods and services to which the 9% rate applies are those, and only those, listed in paragraphs 3(1) to (3), 7, 8, 11, 12, and 13(3) of Schedule 3 of the VAT Consolidation Act 2010. Examples of such goods and services include the supply of food and drink (excluding alcohol, soft drinks and bottled water) in the course of catering, hotel lettings, admissions to...