Results 2,681-2,700 of 27,019 for speaker:Michael Noonan

Written Answers — Illicit Trade in Tobacco: Illicit Trade in Tobacco (20 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and for tackling the illicit trade in cigarettes and tobacco products, that the figures requested are as follows: Seizures of smuggled cigarettes Year Number of Seizures Quantity of Cigarettes Seized 2007 15,481 74,520,798 2008 10,191 135,243,859 2009 10,600 218,557,900 2010...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (20 Jul 2011)

Michael Noonan: Since 1 July 2011 EBS has been a fully owned subsidiary which benefits from the full support of AIB. The new merged entity will be a stronger and more domestically focused institution which will leave it better placed to service the needs of the Irish economy and will help return the banking system to long-term viability. As announced on the date of the transaction, EBS Limited will...

Written Answers — Financial Services Sector: Financial Services Sector (20 Jul 2011)

Michael Noonan: I am advised by the Central Bank that it does not keep statistics on employee numbers in the banking and financial services under their regulation. However based on information from Central Statistics Office who keep data on the labour market including the financial sector, in 2009, 108,700 people were employed in 'financial, insurance and real estate activities', and in 2010, that number was...

Written Answers — Financial Services Regulation: Financial Services Regulation (20 Jul 2011)

Michael Noonan: I have been advised by the Central Bank that the information requested by the Deputy is not available. There is no legal requirement on licensed moneylenders to prepare or to submit audited accounts to the Central Bank. The end of the year accounting period for financial accounting purposes varies from moneylender to moneylender.

Written Answers — Financial Services Regulation: Financial Services Regulation (20 Jul 2011)

Michael Noonan: I have been advised by the Central Bank that the number of licensed moneylenders registered in each of the years was as follows: Year Number of Licensed Moneylenders 2008 53 2009 52 2010 46 2011 46 (as at 30 June 2011)

Written Answers — Financial Services Regulation: Financial Services Regulation (20 Jul 2011)

Michael Noonan: I have been advised by the Central Bank that the amount of levies paid to the Bank by moneylenders in the years 2008 to 2010 inclusive is as follows:

Written Answers — Financial Services Regulation: Financial Services Regulation (20 Jul 2011)

Michael Noonan: Year Levy amount collected 2008 €162,000 2009 €244,000 2010 €257,000 The information for 2011 is not yet available.

Written Answers — Financial Services Regulation: Financial Services Regulation (20 Jul 2011)

Michael Noonan: I wish to inform the Deputy that persons operating as illegal moneylenders are in breach of the law. It is a matter for An Garda Síochána to investigate their activities. Under Section 98 of the Consumer Credit Act 1995 (as amended), An Garda Síochána have sole responsibility for the investigation and prosecution of such offences. The Central Bank has no powers in this regard. If the...

Written Answers — Proposed Legislation: Proposed Legislation (20 Jul 2011)

Michael Noonan: The Finance Act 2011 contains legislation that, subject to a Ministerial Commencement Order, provides for the extension of betting duty to remote bookmakers and betting exchanges. The tax changes provided for in the Finance Act can only be implemented once the Betting (Amendment) Bill, which will provide for a regulatory and licensing regime, is enacted. The Betting (Amendment) Bill 2011 is...

Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (Resumed) (21 Jul 2011)

Michael Noonan: I thank the Deputies who participated in this Second Stage debate for their thoughtful contributions on what is undoubtedly an important piece of legislation. Many expressed a welcome for the provisions of the Bill, recognising the importance of the State having available to it a comprehensive toolkit to address financial institutions that are in distress. Turning to some of the specific...

Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Referral to Select Committee (21 Jul 2011)

Michael Noonan: I move: That the Bill be referred to the Select Sub-Committee on Finance pursuant to Standing Order 82A(3)(a) and (6)(a).

Written Answers — Pension Provisions: Pension Provisions (21 Jul 2011)

Michael Noonan: While the purpose of approved pension arrangements is to provide for an income in retirement, I am advised by the Revenue Commissioners that, in some cases, the member's entitlements under an occupational pension scheme may be too small to justify the pension set up costs (e.g. purchase of an annuity). Revenue recognises the difficulty this can cause and will allow full commutation of the...

Written Answers — EU Funding: EU Funding (21 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 62 and 63 together. As the Deputy may be aware, agreement was reached at the European Council meeting on the 24th June 2011 on the text of the European Stability Mechanism. On the 11th July 2011, Euro Area Finance Ministers signed the Treaty at a Eurogroup meeting subject to the completion of national parliamentary procedures. Under the proposed European...

Written Answers — Strategic Investment Bank: Strategic Investment Bank (21 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 64 and 97 together. As I said in a reply to a question from Deputy Flanagan on 21 June and Deputy McGuinness on 5 July, ensuring that a strategic investment bank is operating in the domestic banking market, providing finance to large capital projects and acting as a conduit for venture capital as well as a lender to SMEs, is an objective in the Programme for...

Written Answers — Tax Code: Tax Code (21 Jul 2011)

Michael Noonan: I wish to point out that there is currently a greater parity between the VAT rates in Ireland and the UK than previously. The UK standard VAT rate at 20% is only 1 percentage point lower than the Irish standard VAT rate of 21%. At 5% the UK reduced VAT rate is lower than our reduced rates of 9% and 13.5%. However, Ireland applies reduced rates of VAT to a much wider range of goods and...

Written Answers — Pension Provisions: Pension Provisions (21 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 66, 77 and 78 together. I assume that the information being sought relates to the amounts of contributions to pensions and not on the associated costs to the Exchequer of tax forgone. I am advised by the Revenue Commissioners that the only relevant information they have in this area is in respect of the amounts of contributions to various pension arrangements...

Written Answers — Tax Reliefs: Tax Reliefs (21 Jul 2011)

Michael Noonan: As the Deputy has noted the level at which interest repayments can be claimed against tax for residential rental properties was reduced from 100% to 75% in section 5 of the Finance Act 2009. I am informed by the Revenue Commissioners that based on personal income tax returns filed by non-PAYE taxpayers the amount of tax foregone by allowing a deduction for interest on borrowings to be offset...

Written Answers — Tax Reliefs: Tax Reliefs (21 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that as the rental income of companies is returned as net of interest on borrowings the figures for interest are not separately distinguished in corporate tax returns. There is, therefore, no basis on which an estimate of the cost of corporation tax revenue forgone could be provided.

Written Answers — Tax Reliefs: Tax Reliefs (21 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the most recent years for which final information is available on the cost to the Exchequer of the home carer tax credit is for the income tax years 2007 and 2008. The relevant figures are as follows: Tax Year Estimated cost to the Exchequer €m 2007 69 2008 80 In addition, provisional estimates, on a preliminary basis, of the cost to...

Written Answers — Tax Reliefs: Tax Reliefs (21 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the detailed information requested by the deputy regarding share options under the deferred payment scheme is not readily available and could not be obtained without conducting a protracted examination of the Revenue Commissioners' records.