Results 2,541-2,560 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (12 Jul 2011)

Michael Noonan: VAT is charged on the supply of goods and services, and 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 all goods and services that had been subject to the 13.5% rate. While...

Written Answers — Credit Availability: Credit Availability (12 Jul 2011)

Michael Noonan: The Deputy will be aware that the banking system restructuring plan creates capacity for the two Pillar Banks, Bank of Ireland and AIB, to provide lending in excess of €30 billion in the next three years. SME and new mortgage lending for these banks is expected to be in the range of €16-20bn over this period. In each bank, a team of senior managers will be dedicated to the task of...

Written Answers — Social Insurance: Social Insurance (13 Jul 2011)

Michael Noonan: I have been advised by the Revenue Commissioners that they have noted the matter raised by the Deputy. For reasons of taxpayer confidentiality, they are unable to comment further on the individual case.

Written Answers — Price Inflation: Price Inflation (13 Jul 2011)

Michael Noonan: The policy interest rate is a key tool for controlling inflation in many regions. In the euro area, the independent European Central Bank (ECB) is responsible for monetary policy and has sole discretion for policy interest rate movements. The ECB's requirement is to maintain price inflation in the euro area as a whole, close to but below 2%. The latest estimate for the Harmonised Index of...

Written Answers — Tax Code: Tax Code (13 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that Section 132(3)(d) of the Finance Act 1992, as amended, provides that category D vehicles are charged at a rate of 0% of the value of the vehicles. These vehicles are defined in Section 130 of that Act as "namely, an invalid carriage, a refuse cart, a sweeping machine, a watering machine used exclusively for cleansing public streets and roads,...

Written Answers — Financial Services Regulation: Financial Services Regulation (13 Jul 2011)

Michael Noonan: Since 1 June 2008, the provision of all equity release products have been subject to the Central Bank's Consumer Protection Code (the Code). As defined in the Code, an equity release product means a lifetime mortgage or a home reversion agreement. The Central Bank Act 1997, as amended by the Markets in Financial Instruments and Miscellaneous Provisions Act 2007, provided that, with effect...

Written Answers — Consultancy Contracts: Consultancy Contracts (13 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 74 and 75 together. I am informed by NAMA that the contractual details of all contracts between the agency and individual service providers are negotiated on a case-by-case basis, are commercially sensitive and are confidential. I am advised by NAMA that legal and consultancy fees incurred in 2009 in setting up NAMA were €1.63 million and relate to legal...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (13 Jul 2011)

Michael Noonan: The outgoing board of Irish Nationwide Building Society made many efforts to recoup the bonus paid to the former CEO of the Society in 2008. Now that the INBS has merged with Anglo Irish Bank, I regard the commitment of the former CEO to return the bonus to the society as one that remains outstanding to the new merged entity. Therefore, I have asked the Board of the new merged entity to...

Written Answers — Consumer Protection: Consumer Protection (13 Jul 2011)

Michael Noonan: The Financial Services Ombudsman's Bureau has confirmed that, under current legislation - the Central Bank and Financial Services Authority of Ireland Act, 2004 and S.I. 190 of 2005 - sole traders as natural persons acting in the course of, or in connection with, the carrying on of a business are excluded from the definition of "consumer" (and accordingly "eligible consumer") for the purposes...

Written Answers — Departmental Staff: Departmental Staff (13 Jul 2011)

Michael Noonan: At present, there are 30 staff at various grade levels working in my Department who are assigned full-time to monitor EU policy developments. In some cases, the officer's role encompasses both EU and domestic policy developments. I have set out below details of those roles which are most heavily engaged in monitoring EU Policy. A Second Secretary attends Eurogroup and ECOFIN with the...

Written Answers — Tax Code: Tax Code (14 Jul 2011)

Michael Noonan: The Finance (No. 2) Act 2011 provided for a second reduced VAT rate, of 9%, on a temporary basis in respect of certain services and goods, including newspapers, for the period 1 July 2011 to end 2013. All newspapers sold on or after 1 July 2011 are subject to VAT at the new 9% rate and the total retail price charged should be inclusive of tax at that rate.

Written Answers — Tobacco Smuggling: Tobacco Smuggling (14 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that 178 million illicit cigarettes were seized in 2010 and 63.8 million were seized in the period January to June 2011. I know that the Revenue Commissioners regard the tackling of the illicit trade in cigarettes and tobacco products to be a high priority. Their strategy includes the development and sharing of intelligence on a national, EU and...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Jul 2011)

Michael Noonan: There are some cases where additional monies are requested of NAMA by debtors in order to complete developments. NAMA makes the decision to advance funds to an individual development project based on its commercial viability. In these cases NAMA is typically a secured creditor as it has a mortgage charge, usually over the property that was security for a loan. That property may be land, an...

Written Answers — Financial Services Regulation: Financial Services Regulation (14 Jul 2011)

Michael Noonan: I would like to assure the Deputy that the Government is conscious of the difficulties that 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...

Written Answers — Consultancy Contracts: Consultancy Contracts (14 Jul 2011)

Michael Noonan: At present, my Department has engaged one person, from one of the companies listed by the Deputy, to provide expert advice and assistance in relation to the banking area. There are no other contracts in place at present with any of the other companies mentioned.

Written Answers — Tax Code: Tax Code (14 Jul 2011)

Michael Noonan: The Finance (No. 2) Act 2011 provided for a second reduced VAT rate, of 9%, on a temporary basis in respect of certain services and goods, for the period 1 July 2011 to end 2013. This included the supply of printed matter, including newspapers, magazines, brochures, leaflets, programmes, maps, catalogues and printed music. Businesses must account for VAT at the 9% rate on these specified...

Written Answers — Tax Code: Tax Code (14 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that there is nothing in Irish tax law that makes reference to the term "tax exile" status. I am assuming in referring to "tax exiles" the Deputy is thinking of Irish citizens or Irish domiciled individuals claiming to be non-resident for tax purposes and who are living abroad primarily for tax reasons. For the 2009 tax year, the latest year for...

Written Answers — Tax Code: Tax Code (14 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that there is nothing in Irish tax law that makes reference to the term "tax exile" status. I am assuming in referring to "tax exiles" the Deputy is thinking of Irish citizens or Irish domiciled individuals claiming to be non-resident for tax purposes and who are living abroad primarily for tax reasons. Individuals who are non-resident in Ireland...

Written Answers — Tax Reliefs: Tax Reliefs (14 Jul 2011)

Michael Noonan: All tax reliefs and incentives are subject to regular review as part of the annual Budget and Finance Bill planning process. Any decisions taken by the Government in this regard are usually announced on Budget Day.

Written Answers — Ministerial Staff: Ministerial Staff (14 Jul 2011)

Michael Noonan: The following individuals have been appointed at my Department of Finance since I took office. * Mary Kenny, Special Adviser * Denis Dwyer, Civilian Driver * Gerry Rigney, Civilian Driver * Alan Kavanagh, Constituency Office (Limerick) * John Moran, Second Secretary * Neil Ryan, Assistant Secretary * Aidan Carrigan, Assistant Secretary