Results 23,901-23,920 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Sector (27 Sep 2016)

Michael Noonan: In 2015, Sparkassenstiftung für Internationale Kooperation (Savings Banks Foundation for International Cooperation - SBFIC), with the support of the Public Banking Forum of Ireland, submitted a proposal to the Department of Finance regarding the development of a local public banking system in Ireland. This proposal was considered in detail by officials in my Department and there was...

Written Answers — Department of Finance: Banking Sector (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 157 and 158 together. I refer the Deputy to my response to her previous question on local public banking. The Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs has primary responsibility for the Programme for Government commitment to investigate the German Sparkassen model for the development of local public banks....

Written Answers — Department of Finance: Tax Reliefs Application (27 Sep 2016)

Michael Noonan: I have no plans to introduce a system of tax incentives to assist elite athletes to attract sponsorship. The Deputy may be aware that the State already provides support to athletes both directly and indirectly, and my colleague the Minister for Transport, Tourism, and Sport has responsibility for such support. I would draw the Deputy's attention to...

Written Answers — Department of Finance: Tax Yield (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 160 and 191 together. I have recently published a proposed amendment to section 110 TCA 1997 which I intend to introduce in the Finance Bill.  I am informed by Revenue that it is not yet possible to accurately cost the measure.  This proposal was published on 6 September 2016, in draft form, in order to obtain constructive feedback and views from...

Written Answers — Department of Finance: National Treasury Management Agency (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 161 and 162 together. I am advised by the National Treasury Management Agency (NTMA) that it does not speculate about the interest rates at which it could potentially issue debt. The number of variables that impact interest rates including yields in other markets at the time; the demand for the relevant maturity at a point in time; and the size of the issue...

Written Answers — Department of Finance: General Government Debt (27 Sep 2016)

Michael Noonan: The most recent official forecast of general government debt (GGD) for 2016, published in the Stability Programme Update in April 2016, was €203.8 billion, which equated to 88.2% of GDP. The impact of an additional €10 billion in borrowing would increase this debt to GDP ratio by 4.4 percentage points to 92.6%. New macroeconomic and...

Written Answers — Department of Finance: NAMA Portfolio (27 Sep 2016)

Michael Noonan: The Deputy will appreciate that NAMA does not own or sell properties.  It has acquired loans and its relationship to the properties securing those loans is, like a bank, that of a secured lender.  NAMA is bound by both statutory and contractual obligations of confidentiality. Neither NAMA nor I can comment on individual cases. Specifically, NAMA is subject to similar...

Written Answers — Department of Finance: Pension Provisions (27 Sep 2016)

Michael Noonan: Finance Act 2013 introduced Section 782A of the Taxes Consolidation Act 1997 which provided members of occupational pension schemes with a once-off opportunity to access up to 30% of their Additional Voluntary Contributions (AVCs) prior to retirement. The option was available for a three year period from 27 March 2013, the date that Finance Act 2013 was passed into law, and came to an end on...

Written Answers — Department of Finance: Tax Exemptions (27 Sep 2016)

Michael Noonan: I am advised by Revenue that section 112B of the Taxes Consolidation Act 1997 provides that employers may provide tax free benefits to employees once a year provided the benefit does not exceed €500 in value and is not in the form of cash.  This new exemption replaces the previous concession operated by Revenue known as the small benefits exemption which applied to benefits up to...

Written Answers — Department of Finance: Banking Sector (27 Sep 2016)

Michael Noonan: As the deputy is aware, significant progress has been made across the Irish banking sector in reducing the level of non-performing loans (NPLs) since the financial crisis. This has been primarily achieved by customers engaging directly with their banks and agreeing a sustainable payment plan which allows the customer an achievable path out of arrears, as well as protecting the value of the...

Written Answers — Department of Finance: Tax Reliefs Availability (27 Sep 2016)

Michael Noonan: As the Deputy will be aware, an Earned Income Credit to the value of €550 has been in operation since January this year and is available to those with earned income who do not have access to the PAYE credit. This is of potential benefit to all self-employed individuals including farmers, foresters, fishermen and small food processors, where they have sufficient income. ...

Written Answers — Department of Finance: Tax Code (27 Sep 2016)

Michael Noonan: The current rate of excise duty applied to a litre of argicultural diesel is 10.2c per litre while the current rate of excise applied to auto-diesel is 47.9c per litre.  It is a longstanding practice of the Minister for Finance not to comment in advance of the Budget on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Corporation Tax Regime (27 Sep 2016)

Michael Noonan: I was surprised and disappointed to learn that the Brazilian Federal Revenue Service have added Ireland to Brazil's tax black list.   I understand that the operation of the listing was initial backdated to 1 August but now has been suspended until 1 October.  If Ireland remains on the list, I understand that there would be some Brazilian tax implications on payments flowing...

Written Answers — Department of Finance: Tax Yield (27 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 174 and 177 together. Bottled water is subject to the standard VAT rate which is currently 23%. The standard rate is the VAT rate applied to bottled water in the majority of EU Member States.  Prior to 1992 bottled waters and fruit juices had applied at the zero rate, but were made subject to the standard rate from 1 November 1992 in order to correct...

Written Answers — Department of Finance: Central Bank of Ireland Supervision (27 Sep 2016)

Michael Noonan: Firstly, I would highlight that a list of all firms regulated by the Central Bank is available on their website:. I have been informed by the Central Bank that the company in question is regulated by the Central Bank as an Insurance/Reinsurance Intermediary and as a Retail Credit Firm under Section 34E of the Central Bank Act 1997. Retail credit firms must comply with all Central Bank codes...

Written Answers — Department of Finance: Banking Sector Data (27 Sep 2016)

Michael Noonan: I can confirm that there are no limitations regarding annual profits for Irish banks or for foreign banks operating in Ireland.

Written Answers — Department of Finance: NAMA Operations (27 Sep 2016)

Michael Noonan: My officials meet with NAMA executives on a monthly basis to discuss NAMA's current and expected performance, as well as any other topical issues, while respecting NAMA's independence. Through these engagements, my Department was aware that NAMA had received drafts of, and provided feedback on, the Comptroller and Auditor General's (C&AG) Special Report "National...

Written Answers — Department of Finance: Corporation Tax Regime (27 Sep 2016)

Michael Noonan: I was surprised and disappointed to learn that the Brazilian Federal Revenue Service have added Ireland to Brazil's tax black list.   I understand that the operation of the listing was initially backdated to 1 August but has now been suspended until 1 October.  No notice of this decision was given to the Irish Government by the Brazilian Federal Revenue Service and we have...

Written Answers — Department of Finance: Departmental Expenditure (27 Sep 2016)

Michael Noonan: The information requested by the Deputy is set out in the following table: Year 2011 2012 2013 2014 2015 2016(to date) Amount (€) 311,526.50 492,579.60 1,014,115.25 619,752.40 557,775.90 365,319.22

Written Answers — Department of Finance: Data Protection (27 Sep 2016)

Michael Noonan: The Department of Finance has a specific Data Protection Officer.  The role of the Department of Finance Compliance Officer incorporates the position of Data Protection Officer.  While the Data Protection Officer has other duties and responsibilities they do not interfere with his role as Data Protection Officer. The Data Protection Officer is independent in his role and reports...