Results 25,281-25,300 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Sector Data (6 Dec 2016)

Michael Noonan: As the Deputy is aware, the Central Bank of Ireland announced in October 2015 that it would conduct a detailed review of Tracker Mortgage portfolios with all the banks under its supervision. The Central Bank sought to conduct a broad examination of tracker mortgage-related issues covering, among other things, transparency of communications with and contractual rights of tracker mortgage...

Written Answers — Department of Finance: Banking Sector Investigations (6 Dec 2016)

Michael Noonan: As I have previously answered, Ulster Bank Ireland Limited undertook an independent review into the relevance of these allegations to its corresponding division, namely the Global Restructuring Group Ireland (GRGI).  On the 19th December 2014, Ulster Bank published the findings of the independent review by Mahon Hayes Curran into practices at GRGI.  The investigation found no...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (6 Dec 2016)

Michael Noonan: The IBRC Progress Update Report of May 2016, which is available on the Department of Finance website (), provides detail of the amount received from overall asset realisations during the liquidation. I am advised by the Special Liquidators that they are precluded from providing the details sought in relation to the outcome of individual portfolio sales as this is commercially sensitive...

Written Answers — Department of Finance: Tax Credits (6 Dec 2016)

Michael Noonan: I am advised by Revenue that as the relevant legislation (Section 865 of the Taxes Consolidation Act 1997) does not permit a repayment of tax, in this instance, for years prior to 2012 they considered that having regard to the circumstances of the case concerned, they could not grant the PAYE tax credit and the related tax repayments for years prior to 2012. The matter is being reviewed...

Written Answers — Department of Finance: Banking Sector Investigations (6 Dec 2016)

Michael Noonan: As the Deputy is aware, the Central Bank is undertaking an examination of tracker mortgage related issues.  The Central Bank has indicated that certain lenders have over the past number of years restored tracker mortgage rates to certain customers. Lenders have referenced publically restoring approx. 3,500 customers to tracker rates. Notwithstanding the work previously undertaken...

Written Answers — Department of Finance: Customs and Excise Controls (6 Dec 2016)

Michael Noonan: I propose to take Questions Nos. 112, 114 and 115 together. The deployment of Revenue staff and resources is a matter for Revenue.  I am advised by Revenue that they use a broad range of data, intelligence and analytical technologies to identify and evaluate risk and to confront suspected non-compliance.  Revenue currently has approximately 2,000 staff countrywide engaged on...

Written Answers — Department of Finance: Revenue Commissioners Resources (6 Dec 2016)

Michael Noonan: Revenue has primary responsibility for the prevention, detection, interception and seizure of controlled drugs intended to be smuggled or illegally imported into the State but there is a high degree of cooperation between all of the enforcement agencies of the State in the fight against the importation of illicit drugs. In particular, Revenue attaches importance at national level to having...

Written Answers — Department of Finance: Revenue Commissioners Powers (6 Dec 2016)

Michael Noonan: I am advised by Revenue that suspicion of ingestion of drugs would be based on direct indicators such as intelligence, interview with the passenger, or obvious illness or discomfort.  Supplementary and indirect indicators would include searches of baggage or the person, baggage scans, detector dogs, profiling and passenger behaviour.  If the level of evidence-based suspicion is...

Written Answers — Department of Finance: Property Tax Data (6 Dec 2016)

Michael Noonan: I am advised by Revenue that a breakdown showing revised figures of properties availing of the deferral option under Part 12 of the Finance (Local Property Tax) Act 2012 (as amended), and broken down by deferral category, is provided in the table. The breakdown has been compiled on the basis of Local Authority, the manner in which properties are categorised in Revenue's Local Property Tax...

Written Answers — Department of Finance: Central Bank of Ireland Staff (6 Dec 2016)

Michael Noonan: I am informed by the Central Bank that at the end November 2016, it has circa 1,600 employees which is below the original year end plan of 1,695. The Central Bank informs me that it is actively recruiting at present, with well over 100 roles advertised. Overall vacancies are spread across functions, with staffing currently approximately 11% below 2016 approved complement in Financial...

Written Answers — Department of Finance: EU Directives (6 Dec 2016)

Michael Noonan: Article 30 of the 4th EU Anti-Money Laundering Directive (4AMLD 2015/849)requires all EU Member States to put into national law provisions around beneficial ownership information for companies and legal entities that are incorporated within the State.  The deadline set for this is June 2017. In consultation with officials from the Department of Jobs, Enterprise and...

Written Answers — Department of Finance: Banking Operations (6 Dec 2016)

Michael Noonan: I am informed by the Central Bank, that Royal Bank of Scotland has indicated publically that "For SME customers of Ulster Bank in the Republic of Ireland that were in GRG during the period 2008-2013, we are working to see how we can apply the same support where appropriate. SME customers of Ulster Bank in the Republic of Ireland can contact the CRG Customer Helpdesk if they have any...

Written Answers — Department of Finance: Property Tax Administration (6 Dec 2016)

Michael Noonan: I have no plans to introduce a measure along the lines suggested by the Deputy. The Deputy will appreciate that tax reliefs and exemptions have costs which have to be paid for and their introduction must be considered only where there is a clear economic and social policy need to be addressed. The report of the 2012 Thornhill group, on which the design of the local property tax (LPT) was...

Written Answers — Department of Finance: VAT Yield (6 Dec 2016)

Michael Noonan: VAT receipts collected by county are published on the Revenue statistics website:. Collection for 2016 VAT in Meath to end November is provisionally estimated at €215m. It should be noted that the amount of tax attributed to a county may not necessarily be an indication of economic activity in that county. The liability of a trader to VAT is generally dealt with by reference to the...

Written Answers — Department of Finance: State Investments (7 Dec 2016)

Michael Noonan: I am advised by the majority of the bodies under the aegis of my Department that they do not hold investments in tobacco companies. I have been advised by the Central Bank of Ireland that the Bank does not invest directly in any debt(bonds) or equity(shares) issued by tobacco companies, either in the management of the investment reserves or the pension...

Written Answers — Department of Finance: State Investments (7 Dec 2016)

Michael Noonan: I refer the Deputy to my replies to recent Parliamentary Questions on this matter, specifically 29899 and 33974 from Deputy Thomas Pringle, 30222 from Deputy Clare Daly, as well as 31232 from Deputy Shorthall. I am informed by the Ireland Strategic Investment Fund (ISIF) that its shareholdings with fossil fuel exposure includes certain investments inherited from its predecessor the National...

Written Answers — Department of Finance: Financial Services Ombudsman Data (8 Dec 2016)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions.  I have no role in the day to day workings of the office. However, the Financial Services Ombudsman has informed me that the Financial Services Ombudsman Bureau does not have a system of recording the cost of mediation separately. This is because the...

Written Answers — Department of Finance: Corporation Tax Regime (8 Dec 2016)

Michael Noonan: I was surprised and disappointed to learn in September that the Brazilian Federal Revenue Service had, without warning, added Ireland to Brazil's tax black list.  Being included on the list has a number of negative tax consequences including greater Brazilian taxation on flows of income from Brazil to Ireland. A formal request for Ireland to be removed from the...

Written Answers — Department of Finance: Revenue Documents Publication (8 Dec 2016)

Michael Noonan: I propose to take Questions Nos. 71 to 73, inclusive, together. I am advised by Revenue that, in discharging their statutory role in relation to the administration and collection of taxes, Revenue provides a range of information, including tax opinions, to taxpayers to assist them in understanding and complying with their obligations under tax law. Revenue has published detailed guidelines...

Written Answers — Department of Finance: Revenue Commissioners Investigations (8 Dec 2016)

Michael Noonan: I would first note that, since the establishment of the Revenue Commissioners in 1923, successive Governments and the Oireachtas have reaffirmed the principle of the independence of the Revenue Commissioners in their dealings with the tax affairs of any individual under tax and customs legislation. This independence is seen as critical to maintaining the integrity of the taxation system and...