Results 26,061-26,080 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Tax (28 Feb 2017)

Michael Noonan: Section 13 of the Finance (Local Property Tax) Act 2012 (as amended) provides that the owner of a relevant residential property on the 'liability date' is liable to pay the LPT charge for that year. The 'liability date' is always 1 November in the preceding year, for example 1 November 2016 is the 'liability date' for 2017. The only exception in this regard was the 2013 'half year' where...

Written Answers — Department of Finance: Mortgage Interest Rates (28 Feb 2017)

Michael Noonan: The issue of standard variable mortgage rates is a significant one for this Government and it has made it clear that it is not acceptable for lenders to charge excessive rates on such mortgages. The Programme for a Partnership Government, therefore, sets out a number of important and practical measures which can be taken to improve the position of variable rate mortgage...

Written Answers — Department of Finance: Freedom of Information Data (28 Feb 2017)

Michael Noonan: In response to the Deputy's question, my Department has not incurred any legal fees on FOI requests.  The Department's internal Legal Unit provides ad-hoc legal support to Deciding Officers and Internal Reviewers in relation to FOI where appropriate. With regard to the staff hours involved in the processing of FOI requests for the past three years, my Department does not collect...

Written Answers — Department of Finance: Brexit Issues (28 Feb 2017)

Michael Noonan: While I personally have not specifically raised this issue in talks, I would point out that Minister of State Murphy along with my officials are using every opportunity, to promote Ireland as a location of choice for the European Banking Authority. The Department of Finance role in promoting Ireland as a location of choice for the EBA is outlined in the...

Written Answers — Department of Finance: Brexit Issues (28 Feb 2017)

Michael Noonan: In the event the EBA is re-located to Dublin, the decision relating to accommodation is a matter for the Authority. The EBA have made clear they require a location with good transport links to other European capitals and commercial office space equivalent to the 45,000 sq ft they currently occupy in London. As a location, Dublin would be able to provide both of...

Written Answers — Department of Finance: IBRC Liquidation (28 Feb 2017)

Michael Noonan: I am advised by the Special Liquidators that there is no ongoing mediation 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 detail of such discussions...

Written Answers — Department of Finance: Motor Insurance (28 Feb 2017)

Michael Noonan: It is important to note that neither I nor the Central Bank of Ireland can direct insurers to provide cover to a particular category of drivers at a particular price as this is a matter of a commercial nature, and would be contrary to EU rules. In providing motor insurance, insurers adopt a risk based approach to determining premiums.  In simple terms, they look at an application...

Written Answers — Department of Finance: Help-To-Buy Scheme (28 Feb 2017)

Michael Noonan: The Deputy will be aware that the Help to Buy incentive is not a broad based relief available for the purchase of any home by any buyer. It is instead a targeted response that is aimed at first-time buyers, buying (or building) new residences. This targeting is designed to help encourage the building of new homes, thereby increasing supply, by turning notional demand into real demand. By...

Written Answers — Department of Finance: Mortgage Lending (28 Feb 2017)

Michael Noonan: There are certain consumer protection requirements on regulated entities when considering an application for residential mortgage credit. For instance, the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 require creditors to assess the creditworthiness of the consumer before concluding a credit agreement (Regulations 19 and 21).  In addition, the...

Written Answers — Department of Finance: Property Tax (28 Feb 2017)

Michael Noonan: Section 13 of the Finance (Local Property Tax) Act 2012 (as amended) provides that the owner of a relevant residential property on the 'liability date' is liable to pay the Local Property Tax (LPT) charge for that year. The 'liability date' is always 1 November in the preceding year, for example 1 November 2016 is the 'liability date' for 2017. The only exception in this regard was the 2013...

Written Answers — Department of Finance: Tax Code (28 Feb 2017)

Michael Noonan: From 28 February 2012 to the 31 March 2014 the rate of Air Travel Tax (ATT) was charged at €3 per passenger departing from an Irish airport. The year 2013 was the last calendar year where this tax was collected, yielding €34.9m in the full year. In the absence of any certainty on the number of passengers departing from Irish airports in 2018 and 2019, the revenue that the...

Written Answers — Department of Finance: VAT Registration (28 Feb 2017)

Michael Noonan: I am advised by Revenue that the application for VAT registration by the company was refused by Revenue and the matter has been formally appealed to the Tax Appeals Commission (TAC) which is an independent statutory body established to deal with all tax appeals.

Written Answers — Department of Finance: Housing Loans (28 Feb 2017)

Michael Noonan: The Mortgage to Rent Scheme (MTR) is managed by the Department of Housing, Planning, Community and Local Government. The scheme is targeted at households with unsustainable long term mortgage arrears who qualify for social housing. Under the scheme borrowers can switch to renting their home as social tenants. Under the Action Plan for Housing and Homelessness it was committed to review the...

Written Answers — Department of Finance: Mortgage Interest Relief Extension (28 Feb 2017)

Michael Noonan: The Deputy will be aware that there is a commitment in the Programme for a Partnership Government to retain mortgage interest relief (MIR) beyond the current end date on a tapered basis.  At present, Section 244 of the Taxes Consolidation Act 1997 provides for tax relief in respect of interest paid on qualifying home loans taken out on or after 1 January 2004 and on or before...

Written Answers — Department of Finance: Property Tax Data (28 Feb 2017)

Michael Noonan: I am advised by the Revenue Commissioners that statistics relating to Local Property Tax (LPT) can be found on the statistics webpage of the Revenue website at www.revenue.ie/en/about/statistics/index.html.Specifically, the most recently available LPT information, including LPT collected in respect of the Fingal Local Authority area, is available at...

Written Answers — Department of Finance: Financial Services Regulation (28 Feb 2017)

Michael Noonan: As the Deputy will be aware, the Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 was enacted in July 2015. It was introduced by the previous Government to fill the consumer protection gap where loans were sold by the original lender to an unregulated firm. The Act introduced a regulatory regime for a new type of entity called a 'credit servicing firm'. Credit Servicing...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (28 Feb 2017)

Michael Noonan: As the Deputy will be aware, in the social and affordable market, in line with Rebuilding Ireland commitments, the Ireland Strategic Investment Fund (ISIF) and a number of key Government Departments are examining the feasibility of establishing a funding vehicle, in conjunction with the private sector, which could facilitate investment in social and affordable housing. Key factors which...

Written Answers — Department of Finance: Stability and Growth Pact (28 Feb 2017)

Michael Noonan: As the Deputy is aware and as stated in Parliamentary Question Number 295 of 17/01/2017 I would like to again reassert my belief in the importance of the principle of the fiscal rules, which are designed to promote budgetary discipline and underpin sustainable economic growth. Fiscal rules are all-the-more important in a monetary union, given the scope for spillovers among...

Written Answers — Department of Finance: Brexit Issues (28 Feb 2017)

Michael Noonan: The Department of Finance has been assessing and preparing for the impact of Brexit since well before the referendum on 23 June 2016. Work was carried out in the Department to assess the potential economic and financial sector implications arising, including through the ESRI-Department of Finance research programme study published in November 2015 titled 'Scoping the Possible Economic...

Written Answers — Department of Finance: Banking Sector (28 Feb 2017)

Michael Noonan: As I outlined in my response to the Deputy's question on 17th January last, in accordance with Section 126AA of the Stamp Duties Consolidation Act 1999, an annual levy was imposed on certain financial institutions for each of the years 2014, 2015 and 2016. The levy was charged at 35% of the Deposit Interest Retention Tax (DIRT) paid by a financial institution in 2011 and...