Results 2,441-2,460 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Reliefs: Tax Reliefs (5 Jul 2011)

Michael Noonan: I assume the Deputy is referring to my conditional undertaking to bring forward legislative changes to provide for an extension in the time period in which ex-employees can benefit from the tax treatment available for shares allocated via an Employee Share Ownership Trust (ESOT). If this change is implemented, it would apply to all ESOTs. The introduction of the extension would effectively...

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: VAT is charged on the supply of goods and services. The rate applying is subject to the requirements of EU VAT law, with which Irish VAT law must comply. While many tourist-related services were made subject to a new temporary lower reduced VAT rate of 9% from 1 July, it is not possible to extend this treatment to the goods and services that remain subject to the 13.5% rate. This arises...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (5 Jul 2011)

Michael Noonan: The financial institutions referred to in the Deputy's question have advised me of the following summary information: Bank of Ireland On 18 June 2011, Bank of Ireland published a Prospectus which outlined that the estimated expenses to generate the €4.2 billion Core Tier 1 capital and €1 billion of contingent capital required to meet regulatory requirements by 31 July 2011 would amount to...

Written Answers — National Treasury Management Agency: National Treasury Management Agency (5 Jul 2011)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that it expects to recoup the external advisory fees associated with the NTMA Banking Unit's involvement in the oversight of the capital-raising exercise from the four financial institutions referred to in the question. These fees include costs associated with achieving burden-sharing with holders of subordinated debt together...

Written Answers — Tax Reliefs: Tax Reliefs (5 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that they have no record of receiving an application for a PAYE refund for the tax years 2008 or 2009 in respect of the person in question. Furthermore, according to Revenue records, no tax was deducted from the named person's salary in those years, in which case no refund could arise.

Written Answers — Credit Availability: Credit Availability (5 Jul 2011)

Michael Noonan: Any decision on whether to grant credit facilities is a commercial decision for an individual lending institution. It is important that each lending institution is allowed to assess properly and independently the individual risks it is considering accepting. However, if a consumer feels he or she has been improperly treated, or has grounds for complaint for some other reason, a complaint...

Written Answers — Pension Provisions: Pension Provisions (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 173 and 174 together. In late May, I met a number of bodies representing the pension fund industry to discuss the 0.6% levy on pension scheme assets introduced to pay for the Jobs Initiative. I outlined my contention at those meetings that the cost of the levy be absorbed by a reduction in the fees and charges made by their members. In June, I wrote to the...

Written Answers — Mortgage Assistance: Mortgage Assistance (5 Jul 2011)

Michael Noonan: The Deputy will be aware that the Government is conscious of the difficulties many homeowners are having in meeting their mortgage repayments in respect of their principal private residence. There are a number of existing measures in place to support those homeowners struggling with their repayments. These measures include the Mortgage Interest Supplement, the Money Advice Budgeting...

Written Answers — Estate Administration: Estate Administration (5 Jul 2011)

Michael Noonan: I understand from the Chief State Solicitor that, following the issue of Letters of Administration, a claim has come forward on behalf of possible next of kin of the deceased as a result of advertisements placed in national newspapers. The Chief State Solicitor's Office is currently investigating this claim and has informed the applicant's solicitor.

Written Answers — Irish Government Bonds: Irish Government Bonds (5 Jul 2011)

Michael Noonan: The NTMA has had detailed discussions with the pensions and insurance industries and with other stakeholders regarding the details of the bonds to be issued and the optimum timing for such issuance so as to best meet the needs of the pensions industry as a whole and the interest of the Exchequer. The NTMA will issue the bonds when it is satisfied from its discussions with the market...

Written Answers — Consultancy Contracts: Consultancy Contracts (5 Jul 2011)

Michael Noonan: Professional, legal and consultancy fees incurred each year by the National Treasury Management Agency, the National Pensions Reserve Fund Commission and the National Asset Management Agency are published in the Annual Reports of each body. Fees and expenses incurred by the National Development Finance Agency in the performing of its financing and advisory functions in relation to specific...

Written Answers — Tax Reliefs: Tax Reliefs (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 180 to 184, inclusive, together. I am informed by the Revenue Commissioners that as statistics on income tax and corporation tax receipts do not generally distinguish between the yields from different sources of income, the figures of tax yields from stallion stud profits are not separately identifiable. Figures of the profits earned from the provision of...

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: The position is that I have not, as yet, directed the Revenue Commissioners to examine the feasibility of a single business tax as outlined in the Programme for Government. The Deputy will appreciate that the Programme for Government is a comprehensive document containing many proposals and commitments to be fulfilled over the lifetime of the Government. Among the first commitments in the...

Written Answers — State Banking Sector: State Banking Sector (5 Jul 2011)

Michael Noonan: As I said in a reply to a question from Deputy Flanagan on 21 June, ensuring that a strategic investment bank is operating in the domestic banking market, providing finance to large capital projects and acting as a conduit for venture capital as well as a lender to SMEs, is an objective in the Programme for Government. A comprehensive programme of bank recapitalisation and restructuring is...

Written Answers — Ministerial Meetings: Ministerial Meetings (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 188 and 206 together. Since my appointment as Minister for Finance, I have engaged fully with all members of the senior management of the Department, who comprise its Management Advisory Committee, on a very regular basis and as the need arises on a wide range of strategic and policy issues. I am satisfied that these arrangements are working well but, as with...

Written Answers — Departmental Agencies: Departmental Agencies (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 189 and 205 together. Details in respect of office rental paid by bodies under the aegis of my Department are contained in the following tables. Public Service Benchmarking Body , Review Group on Higher Remuneration in the Civil Service Year Premises Landlord Annual Rent Rent in years 2008 -2010 Length of Lease 2008 Le Pole House Ship St Great Dublin 8...

Written Answers — Commission on Credit Unions: Commission on Credit Unions (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 190 to 192, inclusive, together. The functions of the Registrar of Credit Unions under the Credit Union Act 1997 are to regulate credit unions with a view to the protection by each credit union of the funds of its members and the maintenance of the financial stability and well being of credit unions generally. While the terms of reference of the Commission on...

Written Answers — Deposit Guarantee Scheme: Deposit Guarantee Scheme (5 Jul 2011)

Michael Noonan: Credit union members are covered by the Deposit Guarantee Scheme for up to €100,000 per saver per credit union. I have no plans to introduce a further guarantee scheme.

Written Answers — Mortgage Arrears: Mortgage Arrears (5 Jul 2011)

Michael Noonan: The revised Code of Conduct on Mortgage Arrears, (CCMA) was issued to all mortgage lenders and came into effect on 1 January 2011. The CCMA sets out how mortgage lenders must treat borrowers in or facing mortgage arrears. The CCMA requires that each lending branch must have at least one person with specific responsibility for dealing with arrears and pre-arrears cases. It also requires...

Written Answers — Mortgage Arrears: Mortgage Arrears (5 Jul 2011)

Michael Noonan: I would like to inform the Deputy that figures published by the Central Bank on 19 May 2011 show that, at the end of March 2011, there were 782,429 private residential mortgage accounts held in the Republic of Ireland to a value of almost €116 billion. Of these, 49,609 accounts, or 6.3%, were in arrears for more than 90 days. For further information, please see the relevant press release...