Results 23,321-23,340 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Interest Rates (23 Jun 2016)

Michael Noonan: As the Deputy will be aware, the issue of variable rates in Ireland is a matter which I have been concerned about for some time. Last year I requested a report on the issue from the Central Bank. The Report entitled, 'Influences on Standard Variable Mortgage Pricing in Ireland' was subsequently published on the Department's website and is available here: . This research identified three...

Written Answers — Department of Finance: Banking Sector Regulation (23 Jun 2016)

Michael Noonan: I have been advised by the Central Bank that Lifetime Loans are regarded as a niche product and they have not been provided in the Irish market for a number of years. Loans of approximately €640 million to around 6,500 customers are currently outstanding. The Consumer Protection Code 2006 and the Consumer Protection Code 2012 contain a number of provisions regarding the provision of...

Written Answers — Department of Finance: Central Bank of Ireland Enforcement Actions (23 Jun 2016)

Michael Noonan: The Deputy's questions refer to an Enforcement Investigation by the Central Bank of Ireland ("CBI") into permanent tsb ("PTSB").  This Investigation relates to the circumstances in which the bank did not allow certain customers to move to or to return to a tracker rate mortgage at the end of a fixed rate term.  I am informed by PTSB that this investigation is continuing. ...

Written Answers — Department of Finance: Banking Sector Data (23 Jun 2016)

Michael Noonan: First, I would like to highlight to the Deputy that the Central Bank's Code of Conduct on the Switching of Current Accounts with Credit Institutions provides a robust, time bound process for the switching of a current account from one credit institution to another. In November 2015 the Central Bank published a report, the Consumer Protection Bulletin on Current Accounts, showing the...

Written Answers — Department of Finance: Credit Union Data (23 Jun 2016)

Michael Noonan: The Central Bank published the Application Form and Explanatory Note to retain individual members' savings in excess of €100,000, which were held at commencement of the Regulations, on 16 May 2016. As set out in the application form (Appendix 2 - Additional Notes), the timeline for these applications to be submitted to the Central Bank is between 17 May 2016 and 27 June...

Written Answers — Department of Finance: Pension Fund Fees (23 Jun 2016)

Michael Noonan: I take it that the Deputy is referring to the facility available under the Standard Fund Threshold (SFT) regime whereby individuals can seek a Personal Fund Threshold (PFT) in certain circumstances. The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes. Its purpose is to discourage over-funding and over-accrual of pension benefits through...

Written Answers — Department of Finance: Tax Yield (23 Jun 2016)

Michael Noonan: I am informed by the Revenue Commissioners that the total amount of revenue generated for the Exchequer in each of the past five years from Excise and VAT on Alcohol is as shown in the following table. Information regarding the sale of alcohol either on or off premises is not available. Excise duty is collected on the release of product from bond rather than at point of sale. In addition,...

Written Answers — Department of Finance: Departmental Meetings (23 Jun 2016)

Michael Noonan: The Deputy will appreciate that as part of our remit on tackling the issue of mortgage arrears and consumer protection issues my officials and I regularly meet with relevant stakeholders. Based on a reasonable search of the material available in my Department in respect of meetings held with the main consumer advocacy groups, the following list sets out the meetings held.  These...

Written Answers — Department of Finance: Tax Yield (23 Jun 2016)

Michael Noonan: The yield from exit tax paid on life assurance policies, in each year from 2008 to 2015 is as follows: Year Amount €m 2008 89.9 2009 50.7 2010 31.2 2011 43.0 2012 43.4 2013 58.7 2014 129.9 2015 247.2 The tax applies on the happening of a chargeable event. A chargeable event would include the maturity or surrender of a life policy or the ending of each 8-year period beginning...

Written Answers — Department of Finance: Deposit Guarantee Scheme (23 Jun 2016)

Michael Noonan: As previously outlined to the Deputy in my answer to Parliamentary Question No. 108 on 16th June 2016, Anglo Irish Bank was nationalised on 15 January 2009 and on that date the Minister for Finance acquired all of the ordinary and preference share capital by virtue of the provisions of the Anglo Irish Bank Act 2009, therefore, as of that date, the ownership of the shares in Anglo Irish Bank...

Written Answers — Department of Finance: Revenue Documents Issuance (23 Jun 2016)

Michael Noonan: I am advised by Revenue that, based on the most up to date information available to them, the person concerned was not due to be issued with a P45. If the person concerned has concerns as regards the accuracy of Revenue's information or about the payment of contributions on her behalf, she should contact her local Revenue District.

United Kingdom Referendum on European Union Membership: Statements (27 Jun 2016)

Michael Noonan: I join colleagues in expressing disappointment at the outcome of the UK referendum. The UK has been a valued ally for Ireland within the European Union. However, the UK electorate has spoken and we must fully respect its decision. It is important to remember that we are at the start of a process. The UK remains a full member of the EU and this will continue to be the case until the...

Written Answers — Department of Finance: Fiscal Policy (28 Jun 2016)

Michael Noonan: I presume the Deputy is seeking this information in the context of the publication of the Summer Economic Statement (SES). The information sought is set out in nominal terms in Table 3 on page 16 of the SES. For the Deputy's convenience, the table below sets out, as percentages of GDP, projected gross voted expenditure, both current and capital, and tax revenues and...

Written Answers — Department of Finance: Ministerial Meetings (28 Jun 2016)

Michael Noonan: The Committee on Economic and Monetary Affairs of the European Parliament extended an invitation to me, in late 2015, under Article 2a of Regulation 1467/97 (as amended by Regulation 1177/2011) and Article 14(3) of Regulation 472/2013 (Two-Pack regulation, which provides for Post Programme Surveillance) to appear before the Committee as part of an economic dialogue and exchange of views with...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (28 Jun 2016)

Michael Noonan: The Ireland Strategic Investment Fund (ISIF) informs me that its exposure to fossil fuel companies is in its global portfolio. The global portfolio is a transition portfolio the purpose of which is to manage the legacy assets inherited from its predecessor fund, the National Pensions Reserve Fund (NPRF) as the Fund transitions fully into Irish assets. In keeping with the ISIF's mandate...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (28 Jun 2016)

Michael Noonan: The Ireland Strategic Investment Fund's (ISIF) has some limited exposure to companies involved in hydraulic fracturing in its global portfolio. The global portfolio is a transition portfolio the purpose of which is to manage the legacy assets inherited from its predecessor fund, the National Pensions Reserve Fund (NPRF) as the Fund transitions fully into Irish assets. In keeping with the...

Written Answers — Department of Finance: Tax Data (28 Jun 2016)

Michael Noonan: I am informed by Revenue that the tables below show, by range of tax liability, the net trading income, net chargeable gains and taxable income of companies that filed a Corporation Tax return in each of the years 2008 -2014. I am advised, following an extensive review of Revenue data, that the taxable income information is not available for the year 2008. The Deputy may wish to note that...

Written Answers — Department of Finance: Tax Relief Data (28 Jun 2016)

Michael Noonan: I am advised by Revenue that the number of persons that availed of relief from VRT and VAT under the Disabled Drivers & Passengers Scheme, in each of the years 2013, 2014, 2015 and to date in 2016 is as follows: County 2013 2014 2015 2016 Carlow 37 41 40 24 Cavan 66 82 95 43 Clare 179 198 211 138 Cork 796 835 926 635 Donegal 174 261 219 166 Dublin 701 818 871 596 Galway...

Written Answers — Department of Finance: Tax on Charitable Donations (28 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 83 to 85, inclusive, together. I am advised by Revenue that charitable donations are outside the scope of VAT. This means that VAT does not apply to such donations. In the case of charitable donations made by text, where the full amount of the donation is passed over directly to the charity concerned, the entire amount is deemed outside the scope of VAT. In...

Written Answers — Department of Finance: Tax Relief Application (28 Jun 2016)

Michael Noonan: The Disabled Drivers and Disabled Passengers Scheme provides a range of tax reliefs linked to the purchase and use of specially constructed or adapted vehicles by drivers and passengers with a disability. Under the terms of the scheme, a person can claim remission or repayment of vehicle registration tax (VRT), repayment of value-added tax (VAT) on the purchase of a vehicle and repayment of...