Results 25,961-25,980 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Public Interest Directors (23 Feb 2017)

Michael Noonan: As the deputy will be aware, in the Programme for a Partnership Government ('PPG') the Government has committed to, "Cease to appoint new Public Interest Directors to the banks, and reform the procedures for the appointment of bank directors by the State, with a view to increasing transparency in the process". Given these commitments  I do not have any plans to review the role of Public...

Written Answers — Department of Finance: Banking Sector Regulation (23 Feb 2017)

Michael Noonan: The decision to pay dividends to ordinary shareholders is a matter for the board of each bank having considered, inter alia, their regulatory responsibilities. As regards the role of DG Competition in the European Commission, the payment of ordinary dividends is recognised and understood as a key mechanism by which State aid can be repaid and their consent is...

Written Answers — Department of Finance: Living City Initiative (23 Feb 2017)

Michael Noonan: I am advised by Revenue that, in relation to the Living City Initiative, applications are only required to be made to the relevant local authority under the residential element of the scheme. Applications are not required to be made under the commercial element of the scheme. Additionally, Revenue does not compile statistics in relation to unsuccessful residential applications. Based on...

Written Answers — Department of Finance: Tax Yield (23 Feb 2017)

Michael Noonan: I am advised by Revenue that interest charged and collected as part of its compliance intervention programmes is as set out in the following table: Interest Charged - 2012 2013 2014 2015 2016 PAYE €6.13m €12.74m €15.28m €19.29m €16.54m PRSI €1.10m €2.13m €2.24m €2.48m €4.39m VAT €18.90m €19.64m...

Written Answers — Department of Finance: Prize Bonds (23 Feb 2017)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that the value of prizes in respect of prize bonds, and these prizes as a percentage of total prize bonds outstanding at year-end, for each of the last five years, are as set out in the following table. The Prize Bond Company has provided this data to the NTMA. The table also shows the actual rates applicable each year, as this...

Written Answers — Department of Finance: State Banking Sector (23 Feb 2017)

Michael Noonan: As the deputy is aware the State has a shareholding of 99.9% in AIB. This shareholding is a very valuable asset to the State and it is the Government's intention that the State will exit this investment in a measured and careful manner. In recent years to assist us in our work to recover the taxpayers' investment in the bank we appointed a number of advisors namely Goldman...

Written Answers — Department of Finance: Revenue Commissioners Investigations (23 Feb 2017)

Michael Noonan: I am advised by Revenue that the programme of compliance interventions in relation to the tax affairs of medical consultants is continuing.  As I indicated in replies to previous questions on this matter from the Deputy in 2016, Revenue's focus continues to be on the  tax issues arising from the incorporation of medical consultants' businesses. I am advised by Revenue that, as...

Written Answers — Department of Finance: IBRC Liquidation (23 Feb 2017)

Michael Noonan: An interim dividend of 25% was paid to all admitted unsecured creditors of the liquidation of IBRC, including the State, in December 2016. The amount paid out to date by the Special Liquidators to admitted unsecured creditors of the liquidation is c. €290m. As previously advised in the IBRC Progress Update Report of May 2016, it is the expectation of the Special...

Written Answers — Department of Finance: Customs and Excise Protocols (23 Feb 2017)

Michael Noonan: The free movement of goods is a fundamental freedom of the internal market of the European Union.  This in effect ensures that goods can move freely across borders.  However, certain restrictions are in place in relation to the import from Northern Ireland of mineral oils for vehicles and household use. These restrictions arise from the European Union excise regime...

Written Answers — Department of Finance: Revenue Commissioners Resources (23 Feb 2017)

Michael Noonan: I am advised by Revenue that the public can visit their Thurles office without an appointment between 9.30am and 1:00pm, Monday to Friday.  An appointments service, which will eliminate the need for queuing and reduces the time involved for taxpayers, will be introduced in the Thurles office in the coming months. There will be appropriate advance publicity so that taxpayers can avail of...

Written Answers — Department of Finance: Tax Code (23 Feb 2017)

Michael Noonan: In the 2016 Finance Act I introduced the Irish Real Estate Fund (IREF) legislation to address the issue of non-resident investors, who have been investing in Irish property through fund structures, avoiding a charge to tax on profits arising from Irish real estate.   An IREF is an investment undertaking in which 25% or more of the value of the assets is derived from IREF assets...

Written Answers — Department of Finance: Economic Data (23 Feb 2017)

Michael Noonan: As the Deputy is aware the publication of a new adjusted gross national income (GNI*) was one of a number of recommendations included in the Report of the Economic Statistics Review Group. The Group was established by the CSO on foot of the exceptional growth rate in 2015 and the increasing limitations of both GDP and GNP as measures of economic activity in Ireland. It was tasked with...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (23 Feb 2017)

Michael Noonan: The commencement date for the Help to Buy scheme of 19 July 2016 was chosen as it was the date of the launch of 'Rebuilding Ireland - Action Plan for Housing and Homelessness', in which the development of such a scheme for inclusion in the Budget was initially announced. The intention to backdate this tax incentive to this date was announced at that time with a view to avoiding any potential...

Written Answers — Department of Finance: Departmental Records (23 Feb 2017)

Michael Noonan: In response to the Deputy's question, my Department does not use any cloud provider or third party server based storage services to satisfy its data or file storage needs. The data and file storage requirements for my Department are provided for via the use of Government hosted storage services.

Written Answers — Department of Finance: Regulatory Impact Assessment Data (23 Feb 2017)

Michael Noonan: The Department of Finance undertakes Regulatory Impact Analyses (RIA) in accordance with the latest guidelines as published by the Department of An Taoiseach. The RIAs are published on the Department's website at www.finance.gov.ie.

Written Answers — Department of Finance: Help-To-Buy Scheme Administration (23 Feb 2017)

Michael Noonan: The legislation setting out the payment provisions for the Help to Buy incentive is contained in Section 477C(16) of the Taxes Consolidation Act 1997. Claimants are required to complete a two-stage online process: an application and then a claim. First-Time Buyers under the Help to Buy incentive fall into 3 categories as follows: 1. Claimants who have contracted to purchase, or drawn...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (23 Feb 2017)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) began lending in March 2015. Its aim is to increase the availability of funding to Irish SMEs, at a lower cost and on more flexible terms, than has been available in recent times on the Irish Market. The SBCI does not lend directly to SMEs, rather it channels its funds through lending partners known as on-lenders. It currently has three bank...

Written Answers — Department of Finance: Licensed Moneylenders (23 Feb 2017)

Michael Noonan: According to the Register on the Central Bank website (), the total number of licensed Moneylenders is currently 39. The Central Bank has not undertaken any further empirical research into the money lending sector in Ireland since the publication of the 2013 Report on the Licensed Money lending Industry. The 2013 Report showed that there were around 360,000 customers of licensed moneylenders...

Written Answers — Department of Finance: House Prices (23 Feb 2017)

Michael Noonan: As the Deputy will be aware, the 'Help to Buy' incentive was initially announced on 19 July 2016 as part of 'Rebuilding Ireland: Action Plan for Housing and Homelessness'. This plan contains a significant volume of responses to the current housing crisis, of which the Help to Buy incentive is one. This comprehensive Action Plan takes a holistic approach in addressing the many interacting...

Written Answers — Department of Finance: Central Bank of Ireland Staff (23 Feb 2017)

Michael Noonan: I am informed by the Central Bank that there were 755.7 active FTEs (Full Time Equivalents) working in the Financial Regulation pillar of the Central Bank at the end of January 2017. With regard to Credit Union regulation, I am informed by the Central Bank that there were 61.2 active FTEs working in the Registry of Credit Unions (RCU) at the end of January 2017. These staff are included...