Results 25,541-25,560 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Revenue Commissioners Legal Cases (17 Jan 2017)

Michael Noonan: The issue raised by the Deputy relates to Revenue's treatment of patronage shares issued by Kerry Co-operative to certain of its members. Deputies will be aware that Revenue has committed to facilitate the appeals process should a taxpayer raise an appeal to the independent Tax Appeal Commission in relation to this issue.  In relation to share based remuneration schemes, in...

Written Answers — Department of Finance: Exchequer Revenue (17 Jan 2017)

Michael Noonan: I am aware of a number of reports that have presented estimates of the losses to the economy and the Exchequer caused by smuggling and illicit trade. I would point out, however, that estimating the extent of any illicit activity and the losses to which it gives rise is inherently problematic and must, therefore, be approached with caution. Unless a clear and credible methodology is...

Written Answers — Department of Finance: Mortgage Data (17 Jan 2017)

Michael Noonan: I am informed by the Central Bank that information collected by it relating to the category 'unregulated loan owners', published in the Central Bank's quarterly statistics on mortgage arrears and repossessions, is subject to a strict confidentiality agreement with the providers of the data. It is, therefore, not possible for the Central Bank to disclose this information.

Written Answers — Department of Finance: Mortgage Data (17 Jan 2017)

Michael Noonan: I am informed by the Central Bank that it is unable to provide this information in the format requested.  I would however refer the Deputy to the Central Bank's Report on Mortgage Arrears, published on 16th December at , which found that there is a broad range of available restructures offered and delivered by both bank and non-bank entities and there is strong...

Written Answers — Department of Finance: VAT Rate Application (17 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 320 and 328 together. The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive, Irish legislation has applied the standard rate of VAT, currently 23%, to the supply of the national car test service since its introduction in Ireland. The legal requirement to test vehicles does...

Written Answers — Department of Finance: Bank Liquidations (17 Jan 2017)

Michael Noonan: I am advised by the Special Liquidators that there are no ongoing settlement discussions with the party referred to in the question or any of their representatives at this time. Generally speaking, my officials and I would be kept informed by the Special Liquidators at a high level of any such discussions between them and the party referred to in the question but the...

Written Answers — Department of Finance: Proposed Legislation (17 Jan 2017)

Michael Noonan: The Programme for a Partnership Government commits to the introduction of a tax on sugar-sweetened drinks (SSDs).  The tax will contribute towards important public health goals, as well providing a new source of revenue for public spending.  The Department of Health has also supported the introduction of a tax on SSDs in order to reduce added-sugar in diets, particularly...

Written Answers — Department of Finance: Tax Data (17 Jan 2017)

Michael Noonan: It is assumed that the Deputy refers to work that the Revenue Commissioners have been engaged in during the course of 2016 to use 3rd party information and data analytics to identify income-tax payers who have understated their income to Revenue. I am advised that this work is one of a number of projects designed to deliver on a specific objective of the Commissioners' published...

Written Answers — Department of Finance: Loan Books Purchasers (17 Jan 2017)

Michael Noonan: I have been informed that in 2015 the bank in question concluded a sale of a non-core loan book.  The loan book consisted of loans which were secured typically by commercial properties including some Buy-to-Let properties.  The legal action taken by the purchaser of this loan book relates to a warranty in the legal agreements for the sale and relates to a small number of assets...

Written Answers — Department of Finance: Financial Irregularities (17 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 325 and 326 together. The EU implements restrictive measures autonomously at EU level or as a result of resolutions of the Security Council of the United Nations through the publication of EU Regulations. EU Regulations are binding on all Member States once published in the EU Official Journal and appropriate penalties for breach of the regulations are set by...

Written Answers — Department of Finance: NAMA Portfolio (17 Jan 2017)

Michael Noonan: NAMA continuously reviews the assets of every NAMA debtor to establish if properties securing their loans could be utilised for residential development or social housing. In fact, NAMA has an established policy of identifying to Local Authorities, properties which may be suitable for their purposes. NAMA has facilitated the sale or lease by its debtors and receivers of properties,...

Written Answers — Department of Finance: Tax Code (17 Jan 2017)

Michael Noonan: I am advised by the Revenue Commissioners that the breakdown sought by the Deputy, of Dividend Withholding Tax (DWT) collected in relation to Irish dividends paid to non-residents, is not separately available due to the manner in which the information is recorded. The following table may be of interest to the Deputy. This table sets out the Annual amount of DWT collected for the years 2004...

Written Answers — Department of Finance: Real Estate Investment Trusts (17 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 330 to 333, inclusive, together. The Finance Act 2013 inserted Part 25A into the Taxes Consolidation Act 1997 which introduced the tax regime for the operation of Real Estate Investment Trusts (REIT) in Ireland. A REIT is a collective investment vehicle designed to hold properties in a tax neutral manner. I am informed by Revenue that there are currently...

Written Answers — Department of Finance: Departmental Meetings (17 Jan 2017)

Michael Noonan: The information requested is being compiled and will be forwarded to the Deputy in line with Standing Orders. 

Written Answers — Department of Finance: Financial Services Regulation (17 Jan 2017)

Michael Noonan: A Personal Contract Plan (PCP) is a type of hire purchase agreement. The Consumer Credit Act 1995 applies to the provision of hire-purchase agreements. Both the Central Bank and the Competition and Consumer Protection Commission (CCPC) have certain functions and legal powers in relation to the regulation of hire-purchase agreements. Any intermediary who is arranging the credit for...

Written Answers — Department of Finance: Home Repossessions Rate (17 Jan 2017)

Michael Noonan: In respect of the number of Primary Dwelling Homes (PDH) repossessed by each lending institution, the Central Bank only publishes aggregate information for properties which have been repossessed on a quarterly basis. Therefore it is not possible to provide the requested breakdown. In respect of the number of hearings per case we have no information on Court hearings and the Deputy may...

Written Answers — Department of Finance: Economic Growth Rate (17 Jan 2017)

Michael Noonan: The most recent economic forecast prepared by my Department was published as part of Budget 2017, which projected real GDP growth of 3.5 per cent in 2017. Domestic demand is set to drive growth once again this year with positive contributions expected from both consumption and investment spending. The recent dataflow has been encouraging showing that the strong momentum has continued: ...

Written Answers — Department of Finance: Credit Availability (17 Jan 2017)

Michael Noonan: As the Deputy is aware, small and medium sized businesses, including those in the construction sector, play a central role in the sustainable recovery of the Irish economy.  Government policy is focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. The Deputy will also be aware that in my role as...

Written Answers — Department of Finance: Housing Provision (17 Jan 2017)

Michael Noonan: At the outset I want to stress that my colleague the Minister for Housing, Planning, Community and Local Government has primary responsibility for the housing market. Having said that, developments in the housing market can have an impact on the wider economy so it is in all of our interests that equilibrium is restored to the market. A key priority for this Government is...

Written Answers — Department of Finance: Housing Data (17 Jan 2017)

Michael Noonan: As developments in the housing market can have a significant impact on the economy as a whole, my Department monitors developments on an ongoing basis including as regards house price developments. From their peak in 2007, house prices contracted by 43.3 per cent before reaching a trough in 2013. The subsequent recovery in the economy and the sustained period of employment growth has...