Results 25,901-25,920 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Additional Voluntary Contributions (21 Feb 2017)

Michael Noonan: I take it that the Deputy is referring to access to Additional Voluntary Contributions (AVCs) prior to retirement. As outlined in my response to Parliamentary Question No. 165 of 27 September 2016 (PQ 26673/16), Finance Act 2013 introduced Section 782A of the Taxes Consolidation Act 1997 which provided members of occupational pension schemes with a once-off opportunity to access up...

Written Answers — Department of Finance: Banking Sector (21 Feb 2017)

Michael Noonan: As the Deputy is aware, the relationship between the Minister for Finance and the banks in which the State has a shareholding are governed by Relationship Frameworks. Under the terms of these Frameworks matters are deemed to be 'material' and require the bank to bring the matter to my attention, for either consultation or, in certain circumstances, for consent. The Relationship Frameworks set...

Written Answers — Department of Finance: Banking Sector (21 Feb 2017)

Michael Noonan: As the Deputy is aware, the relationship between the Minister for Finance and the banks in which the State has a Shareholding are governed by Relationship Frameworks. Under the terms of these Frameworks matters are deemed to be 'material' and require the bank to bring the matter to my attention. As I have indicated previously to the Deputy, the Relationship Framework with AIB sets...

Written Answers — Department of Finance: Mortgage Book Sales (21 Feb 2017)

Michael Noonan: I assume that the Deputy is referring to the sale of non-performing loans. I can confirm that I have not received a consultation request with regard to a material disposal of loans, as would be required under the terms of the Relationship Framework with the bank concerned. However my officials have informed me that the bank concerned is considering such a process though I understand...

Written Answers — Department of Finance: NAMA Staff Remuneration (21 Feb 2017)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that no performance related payments have been made to date by the NTMA in respect of financial year 2016. Any performance related payments made in respect of financial year 2016 will be published in the NTMA's 2016 Annual Report. Performance related payments made in 2016 in respect of financial year 2015 totalled...

Written Answers — Department of Finance: Public Relations Contracts Expenditure (21 Feb 2017)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that its communications team is supported by an external service provider, Gordon MRM. This service, which includes out-of-hours contacts for the media, provides support across all of the NTMA's business areas: - Funding and Debt Management; - Ireland Strategic Investment Fund (ISIF); - National Development Finance Agency (NDFA);...

Written Answers — Department of Finance: Exchequer Revenue (21 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 135 and 136 together. I am advised by Revenue that the available information is in respect of net tax receipts from entertainment activities using the sectorial identifier on the tax records called "NACE code" (the current version of which is referred to as NACE Rev.2), an internationally recognised economic activity code system. The receipts shown in the...

Written Answers — Department of Finance: Commercial Property (21 Feb 2017)

Michael Noonan: The recent growth in the demand for office space is a reflection of the recovery in the economy and the sustained growth in overall employment. According to the Savills report referenced by the Deputy, the take-up of office space exceeded 200,000 sq.m for the third successive year in 2016. Given the sustained level of demand and the increase in prime office rents, the construction of...

Written Answers — Department of Finance: Banking Sector Remuneration (21 Feb 2017)

Michael Noonan: The Capital Requirements Directive IV (CRD IV), has introduced a European wide framework governing remuneration for bank executives. The European framework on remuneration applies to all financial institutions subject to CRD IV, which I as Minister for Finance am responsible for implementing. The disclosure of the bonuses paid in Ireland to relevant individuals in 2015 is part...

Written Answers — Department of Finance: Insurance Industry Regulation (21 Feb 2017)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept. This position is...

Written Answers — Department of Finance: VAT Rate Application (21 Feb 2017)

Michael Noonan: The 9% reduced VAT rate for tourism related services was introduced in July 2011 as part of the Government Jobs Initiative. It applies to restaurant services, hotel and holiday accommodation; various entertainment services; the use of sporting facilities; hairdressing services; and newspapers. Revenue estimates the cost to the exchequer of the reduced 9% VAT rate, since its introduction...

Written Answers — Department of Finance: Primary Medical Certificates Eligibility (21 Feb 2017)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and Vehicle Registration Tax (up to a certain limit), an exemption from motor tax and a grant in respect of fuel, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities. To qualify for the Scheme an applicant must be in...

Written Answers — Department of Finance: Departmental Expenditure (21 Feb 2017)

Michael Noonan: The information requested by the Deputy is set out in the following table. This information relates to 2016. My Department publishes all such information on its website. 2016 Name Description Amount Price Waterhouse Coopers National Risk Assessment €73,031 Mason Hayes and Curran Advice regarding Subject Access Request under Data Protection Act €733 William Fry Legal...

Written Answers — Department of Finance: Vehicle Registration (21 Feb 2017)

Michael Noonan: I am advised by Revenue that 5,971 registration numbers were reserved in the past 10 years, yielding revenue of €2,789,175.  The cost/fee for a reserved number is currently €1,000 increased from €315 on 7 October 2008.  Details are set out in the following table. Year Number Reserved (*1) Fee/Cost per Registration Revenue (*1) 2007 3,206 €315...

Written Answers — Department of Finance: Property Tax Administration (21 Feb 2017)

Michael Noonan: I am advised by Revenue that Deserted Wives Benefit is not currently one of the schemes for which it has been agreed with Department of Social Protection that deductions at source will be made in respect of Local Property Tax.  The schemes from which possible deductions can be made are being kept under review and Revenue are in ongoing discussion with the Department of Social Protection...

Written Answers — Department of Finance: Betting Legislation (21 Feb 2017)

Michael Noonan: On-course bookmakers are exempt from betting duty on bets accepted during and at a race meeting under section 68(1)(a) of the Finance Act 2002.  However, this exemption does not apply to bets entered into by any means of telecommunications, such as by telephone or online. The current exemption from betting duty applies to very narrowly defined category of bookmakers and bets and I am...

Written Answers — Department of Finance: Home Repossessions Rate (21 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 148 and 149 together. I am firmly of the view that the Irish banking system has an important role to play in the normalisation of the Irish housing sector through the speedy return of properties in their possession to the general market. I am also conscious that where a bank comes into possession of a property the institution has a fiduciary responsibility to...

Written Answers — Department of Finance: Revenue Commissioners (21 Feb 2017)

Michael Noonan: I am advised by Revenue that according to their records the person concerned did not pay tax or USC in the years in question. The person concerned has been advised directly.

Written Answers — Department of Finance: Financial Services Regulation (21 Feb 2017)

Michael Noonan: In July 2015, my Department and the Central Bank published a joint public consultation paper on a proposed move from the current 50 per cent funding model for financial regulation to a full funding model. Following that consultation, I approved a phased move towards 100 per cent industry funding of the cost of financial regulation, commencing in 2017 with a move from 50 to 65 per...

Written Answers — Department of Finance: Tax Credits (21 Feb 2017)

Michael Noonan: As the Deputy may be aware, the previous tax relief in respect of rent paid, was abolished in Budget 2011, and it is no longer available to those that commenced renting for the first time from 8 December 2010. This followed a recommendation in the 2009 report by the Commission on Taxation that rent relief should be discontinued. The view of this independent commission was that, in the...