Results 25,841-25,860 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Financial Services Ombudsman (15 Feb 2017)

Michael Noonan: The current legislation (section 57BX (3)(b) of the Central Bank 1942 Act) prohibits the Financial Services Ombudsman from examining any aspect of a complaint where the conduct being complained of occurred more than six years from receipt of the complaint in his Office.  The Heads of Bill to amalgamate the Financial Services Ombudsman and Pensions Ombudsman were published...

Written Answers — Department of Finance: Banking Sector Regulation (15 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 121 and 122 together. A comprehensive overhaul of the legal and regulatory framework in the financial sector has been pursued at both domestic and at an EU level since the financial crisis. A whole raft of new European regulations have strengthened controls over the banking system and have resulted in an overhaul of regulation, supervision...

Written Answers — Department of Finance: Banking Sector Regulation (15 Feb 2017)

Michael Noonan: The excesses seen in the banking system prior to 2008 has resulted in significant changes to the regulatory framework facing the industry. This included a number of changes to the framework that applies to bonus payments (including salaries and discretionary pension benefits) to staff of relevant institutions. The aim of these changes is to prevent a re-emergence of the issues we...

Written Answers — Department of Finance: Banking Licence Applications (15 Feb 2017)

Michael Noonan: I am informed by the Central Bank that the number of applications for a banking licence received in the past five years is as follows: 2016 - None 2015 - None 2014 - None 2013 - One - Dell Bank International Limited - licence granted 2012 - None In December 2015, Credit Suisse AG, a credit institution authorised in Switzerland was granted authorisation under section 9A of the Central Bank...

Written Answers — Department of Finance: Bank Restructuring (15 Feb 2017)

Michael Noonan: The Government is committed to continuing to work to improve the attractiveness of the Irish market to new entrants. I have said before that open market competition represents the best method of driving better rates, offers and choice in financial services for customers. This can be fuelled both by competition between existing lenders and that introduced by new entrants. In this regard, as...

Written Answers — Department of Finance: Mortgage Schemes (15 Feb 2017)

Michael Noonan: The Central Bank has confirmed that the scope of the Tracker Mortgage Examination covers all lenders which sold tracker mortgage accounts, including both for the family home and investment properties, up to the end of 2015. This includes mortgages: - that originated on tracker interest rates; - that had tracker interest rates applied at any stage during the term of the underlying mortgage...

Written Answers — Department of Finance: Revenue Documents (15 Feb 2017)

Michael Noonan: I am advised by Revenue that arrangements have been made to provide the person concerned with the details sought.

Written Answers — Department of Finance: Budget 2016 (15 Feb 2017)

Michael Noonan: I am advised by Revenue that taxpayers are entitled to structure their businesses and undertake their business activities in the most tax efficient manner permitted by the law. However, where such structures and activities result in an outcome not intended by the legislation, Revenue will raise the issue with this Department and propose a legislative change to neutralise or limit such an...

Written Answers — Department of Finance: Tax Code (15 Feb 2017)

Michael Noonan: The recently launched "Realising our Rural Potential: Action Plan for Rural Development" by the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs contains a detailed list of actions and priorities with a view to revitalising rural Ireland generally. This effort is being led by the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs in...

Seanad: Commencement Matters: Illicit Trade in Fuel and Tobacco Products (15 Feb 2017)

Michael Noonan: I thank the Senator for his contribution and comments. I welcome the opportunity to highlight some important points on this matter. The background is that the solid fuel carbon tax, SFCT, was provided for in the Finance Act 2010 and was commenced on 1 May 2013. The introduction of the solid fuel carbon tax was delayed to allow for a mechanism to be put in place to address the risk of coal...

Seanad: Commencement Matters: Illicit Trade in Fuel and Tobacco Products (15 Feb 2017)

Michael Noonan: As I have said earlier, it was important that the regulatory framework to control the sale and burning of solid fuels in the State was in place before the introduction of the carbon tax on solid fuel. The framework is in place now, as are the environmental standards for coal supplied in the State. The enforcement of these environmental standards is the responsibility of local authorities....

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: I am pleased to have the opportunity to appear before the finance committee today in connection with the 2017 Estimates for my Department and for the other Votes within the finance group: the Comptroller and Auditor General, the Revenue Commissioners and the Tax Appeals Commission. If I may, I will focus on my Department first. As members know, the Department was restructured in 2016...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: I do not think Oireachtas approval is necessary because it is in line with Government policy and it is in the programme for Government. The Houses are aware of it. However, I will go back to Government with a memorandum and I envisage a Dáil debate before a decision that takes us beyond the point of no return.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: I will not commit now to bringing a motion before the Dáil, but I will certainly take the views of the Dáil. It would be difficult for me to proceed if I thought a majority of Dáil Éireann was against it.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: The Chairman of the Revenue Commissioners, among his other responsibilities, has responsibility for the Customs services. If Deputy Doherty is talking about the free movement of goods, it is an issue for Customs; whereas the free movement of people is more of an issue for the immigration authorities, with the chain of responsibility going back to the Department of Justice and Equality. I...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: I do not know whether the reports Deputy Doherty has referred to are accurate. The information I am giving is drawn from a lengthy conversation and discussion I had with the Chairman of the Revenue Commissioners two weeks ago. I have no wish to say anything to give the committee a wrong steer. I would invite the Deputy to put down a written parliamentary question to me and I will find out...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: This is being discussed far and wide now. I have had various discussions, but they have been informal and without any policy status. Let us suppose goods come in to Dublin Port, they follow the colour coding I have described and there is a physical check on 2% at Dublin Port. Then let us suppose the lorry drives north and crosses the Border. Effectively, the technical people have said to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: There are issues around the Border but I do not think that is the most practical issue, though it might be. That would be a criminal activity and it would be a matter for the gardaí. Where the issue arises along the Border domestically would be, for example, the man from the bakery with the bread van delivering to shops on both sides of the Border, so that he would be up and down and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: The Chairman spoke about-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: -----a boot-load of valuables.