Results 26,521-26,540 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tracker Mortgages Examination (6 Apr 2017)

Michael Noonan: As set out in its update published on 23 March, 2017, the Central Bank expects that once impacted customers are identified, lenders will communicate with them in a clear and timely manner setting out the context and next steps in plain English so that they fully understand how they have been impacted, how the lender proposes to address the impact and what actions, if any, are required of...

Written Answers — Department of Finance: Tracker Mortgages Examination (6 Apr 2017)

Michael Noonan: The Central Bank advises that the information requested by the Deputy is lender specific supervisory information and that it is not in a position to comment on individual lenders due to confidentiality requirements under Central Bank legislation. However, in the most recent update on the Examination which was published on March 23, certain data in relation to the Examination...

Written Answers — Department of Finance: Tracker Mortgages Examination (6 Apr 2017)

Michael Noonan: The Central Bank advises that the information requested by the Deputy is lender specific supervisory information and that it is not in a position to comment on individual lenders due to confidentiality requirements under Central Bank legislation. However, in the most recent update on the Examination which was published on March 23, certain data in relation to the Examination...

Written Answers — Department of Finance: Tracker Mortgages Examination (6 Apr 2017)

Michael Noonan: The Central Bank advises that the information requested by the Deputy is lender specific supervisory information and that it is not in a position to comment on individual lenders due to confidentiality requirements under Central Bank legislation. However, as part of the framework for conducting the Examination, the Central Bank has set out that, in the circumstances of the...

Written Answers — Department of Finance: VAT Rate Reductions (6 Apr 2017)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. I am advised by The Revenue Commission that the supply of dog grooming services is liable to VAT at the standard rate of 23%. Under the EU VAT Directive, there is no provision to allow the reduced rate to be applied to the supply of dog grooming services. The EU VAT...

Written Answers — Department of Finance: NAMA Portfolio (6 Apr 2017)

Michael Noonan: As outlined in my previous response to Dáil Question 141 of 14 February 2017, NAMA held security over a number of properties within the referenced development. However, these properties were under the control of a receiver who had been appointed by a participating institution before NAMA acquired the associated loans. I am advised by NAMA that it was the appointed...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (6 Apr 2017)

Michael Noonan: As the Deputy will be aware, the Ireland Strategic Investment Fund (ISIF) was established with a double-bottom line mandate to invest, on a commercial basis, to create employment and economic growth in Ireland. In accordance with this, ISIF's investment strategy and its activities are closely aligned with and support Government policy across a wide range of areas, including: housing, the...

Written Answers — Department of Finance: Tax Yield (6 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 115 and 116 together. The following table shows receipts by Excisable commodity from July 2015 to December 2016 (2016 figures are provisional).  It is not possible to estimate associated VAT for them all so only Excise has been provided for consistency. The Deputy may find it useful to compare the excise receipts for the six month...

Written Answers — Department of Finance: Brexit Issues (6 Apr 2017)

Michael Noonan: Relative price levels between Ireland and Northern Ireland for excisable products are an important factor in determining budgetary policy every year. These price levels are monitored on a regular basis. The most recent data from Revenue on indicative price levels for excisable products (alcohol, tobacco and mineral oil products) is outlined below. This is based on a crossborder price...

Written Answers — Department of Finance: Tax Code (6 Apr 2017)

Michael Noonan: I am informed by Revenue that a 50% reduction in the current VRT rates based on the registrations for 2016 would result in an estimated loss of revenue of €380m. I am informed by the Department of Housing, Planning, Community and Local Government that motor tax receipts for 2016 were €1,052m. Theoretically, it could be projected that a 36.1% increase on...

Written Answers — Department of Finance: Tax Data (6 Apr 2017)

Michael Noonan: I am informed by Revenue that an estimated €60m would have been collected for the Exchequer if sales of new cars in the first quarter of 2017 had matched the level seen in the same period in 2016. However, the Deputy should also note than an additional €26.4m in VRT has been received in respect of increased registrations in used cars in the same period.

Written Answers — Department of Finance: Consultancy Contracts Data (6 Apr 2017)

Michael Noonan: In response to the Deputy's question, I have included in tabular form, the requested information in relation to external consultant reports commissioned by my Department since March 2011. Commission date External Consultant Report Name Cost Published /Expected Publication date 2017 SME Lending Survey October 2016 - March 2017 Behaviour & Attitudes N/A - Survey ongoing To be...

Written Answers — Department of Finance: Brexit Issues (6 Apr 2017)

Michael Noonan: Contingency planning for Brexit has been ongoing at all levels of Government well in advance of the UK EU referendum in June 2016. Ireland has a successful track record of competing for, and winning, global foreign direct investment. One of the key pillars of that success is the growth of the International Financial Services (IFS) sector, in particular over the past 30 years. Ireland...

Written Answers — Department of Finance: Consultancy Contracts Data (6 Apr 2017)

Michael Noonan: My officials have been engaging with relevant stakeholders in order to further progress the goal of relocating the European Banking Authority to Ireland, post the completion of the negotiations between the EU and the United Kingdom. This has included meetings with the European Commission in order to highlight the benefits of relocating the Authority to Ireland....

Order of Business (11 Apr 2017)

Michael Noonan: It is only yourselves who are making it messy.

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (11 Apr 2017)

Michael Noonan: I am informed by the Medical Board of Appeal that as of March 2017, there are 278 appeals active at the Disabled Drivers Medical Board of Appeal.  There has been a recent upsurge in the number of appeals to the DDBMA. The DDBMA, within its functions, has the facility to deal with waiting lists by holding extra hearings.  I am aware that extra hearings were held...

Written Answers — Department of Finance: Help-To-Buy Scheme (11 Apr 2017)

Michael Noonan: As the Deputy will be aware, the HTB 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 HTB incentive is just one. The comprehensive Action Plan takes a holistic approach in addressing the many interacting...

Written Answers — Department of Finance: Universal Social Charge (11 Apr 2017)

Michael Noonan: I understand that the Deputy is referring to the step effect which occurs when a taxpayer becomes liable to the Universal Social Charge.  Individuals with USC-liable income of less than €13,000 per annum are exempt from USC, but once that threshold is exceeded, USC is payable on all relevant income. While step effects are never ideal, they are often a feature of tax systems...

Written Answers — Department of Finance: Tax Agreements (11 Apr 2017)

Michael Noonan: I have been advised by Revenue, that Ireland and the Netherlands regularly exchange tax information under the provisions of the Ireland-Netherlands Double Taxation Convention and Council Directive 2011/16/EU on Administrative Cooperation in the Field of Taxation. The exchange of information carried out under these legal agreements is governed by strict confidentiality provisions and the...

Written Answers — Department of Finance: Tax Credits (11 Apr 2017)

Michael Noonan: The estimated cost to the Exchequer of a 20% tax credit on expenditure incurred of €950 by taxpayers for Gaeltacht courses for their children for 1,000 applicants would be in the order of €190,000. This estimate assumes that all of the qualifying taxpayers pay €950 each per child and that they would have sufficient income to use the credit to the maximum extent.