Results 2,941-2,960 of 27,019 for speaker:Michael Noonan

Written Answers — Consumer Protection: Consumer Protection (22 Sep 2011)

Michael Noonan: Last year, the Central Bank published a consultation paper on the 'Review of the Consumer Protection Code' (the Code). The paper outlined new and amended requirements for regulated financial institutions when dealing with consumers, the purpose being to strengthen the existing consumer protection framework. A second consultation paper was issued in June 2011. In addition to the receipt of...

Written Answers — State Banking Sector: State Banking Sector (22 Sep 2011)

Michael Noonan: I am informed by the respective covered institutions that the information sought by the Deputy is as follows: Allied Irish Banks, Bank of Ireland, Irish Life & Permanent, Anglo Irish and Educational Building Society: In response to the Deputy's enquiry their respective searches have not revealed any evidence of a gift with a value in excess of €5,000 being made to a retiring executive over...

Written Answers — Tax Code: Tax Code (22 Sep 2011)

Michael Noonan: I am informed by the Revenue Commissioners that two separate tax treatments can apply depending on the nature of the lump sums paid to a retiring individual. (These rules apply equally to all employees – public and private sectors). Retirement lump sums paid under pension arrangements The following arrangements apply to retirement lump sums paid under Revenue approved pension arrangements:...

Leaders Questions (27 Sep 2011)

Michael Noonan: That is not true.

Leaders Questions (27 Sep 2011)

Michael Noonan: The previous Government put in place a cap and then paid €700,000 while pretending to pay €500,000.

Leaders Questions (27 Sep 2011)

Michael Noonan: The previous Government put in place a cap of €500,000 and paid €690,000.

Insurance (Amendment) Bill 2011 [Seanad]: Second Stage (27 Sep 2011)

Michael Noonan: I move: "That the Bill be now read a Second Time." I welcome the opportunity to address Dáil Éireann today on the Insurance (Amendment) Bill 2011, which was published on Tuesday, 13 September 2011. At the outset, I wish to outline the main reason it is necessary to have the Bill passed speedily by the Oireachtas. The joint administrators of Quinn Insurance Limited, QIL, hope to conclude...

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: Circular 43/2006 issued by my Department advised Government Departments and other public sector bodies concerned with awarding public sector contracts of the procedures relating to tax clearance. In the case of sub-contractors on any public sector contract of a value of €10,000 (inclusive of VAT) or more, the contracting authority should, when advertising the main contract, state that it...

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: The Income Levy was collected by the Revenue Commissioners as a component of Income Tax. I am informed by the Revenue Commissioners that it is estimated that €1,446 million was collected from the Income Levy in the calendar year 2010. However, as is normal, it would have been expected that the total Income Levy liability for the income tax year 2010 would be higher at €1,710 million and...

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer from increasing the Capital Acquisitions Tax rate by 10%, based on the expected outturn in 2011, could be in the region of €110 million, assuming no change in the existing thresholds. The additional full year yield from existing taxpayers from reducing the existing thresholds by 25% and applying...

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Sep 2011)

Michael Noonan: I have been informed by the Central Bank that its Consumer Protection Code applies to the regulated activities of all regulated entities operating in this State including: the services of all regulated entities operating in this State for which they require to be authorised by, or registered with, the Central Bank, and persons with an equivalent authorisation or registration in another...

Written Answers — Strategic Investment Fund: Strategic Investment Fund (27 Sep 2011)

Michael Noonan: As I said in a reply to a question from Deputy Ferris on 14 September last, 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 Government. A comprehensive programme of bank recapitalisation and...

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: I have been advised by the Revenue Commissioners that, according to their records, no income tax was paid by the person concerned in 2008. Accordingly no refund is due for 2008.

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: It is a long established principle in tax case law that emoluments from an employment are taxable in the year in which they are earned (and not necessarily assessable in the tax year in which such emoluments are paid). In addition to such principle, Section 112 Taxes Consolidation Act 1997 provides that where an individual receives emoluments from a former employer, such emoluments are...

Written Answers — Tax Code: Tax Code (27 Sep 2011)

Michael Noonan: It is a long established principle in tax case law that emoluments from an employment are taxable in the year in which they are earned (and not necessarily assessable in the tax year in which such emoluments are paid). In addition to such principle, Section 112 Taxes Consolidation Act 1997 provides that where an individual receives emoluments from a former employer, such emoluments are...

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Sep 2011)

Michael Noonan: The authorisation of credit institutions is a matter for the Central Bank of Ireland and, as such, applications for authorisation are not considered by the Minister for Finance. A full list of authorised credit institutions is published on the Central Bank's website at www.centralbank.ie.

Written Answers — Proposed Legislation: Proposed Legislation (27 Sep 2011)

Michael Noonan: Under the EU/IMF Programme, legislation is to be published by end-2011 to strengthen the regulatory framework for credit unions. The Government has established the Commission on Credit Unions to review the future of the credit union sector. In line with the Programme for Government, the Commission will review the future of the credit union movement and make recommendations in relation to...

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Sep 2011)

Michael Noonan: I have no role in relation to a dispute that arises between a consumer and his/her financial service provider. In relation to the case mentioned by the Deputy, I am aware that it was submitted to the Financial Services Ombudsman (FSO). The FSO is independent in the performance of his statutory duty. I cannot comment on any decision which he may have taken.

Written Answers — Departmental Staff: Departmental Staff (27 Sep 2011)

Michael Noonan: A number of employees in my Department will be required to retire in 2012 upon reaching their compulsory retirement age of 65 while others may retire upon reaching their minimum retirement age of 60 years of age or on actuarially reduced pension terms if they are within ten years of minimum retirement age. Since 11 July 2011, all staff in the civil service who intend to retire on or before...

Written Answers — Tax Evasion: Tax Evasion (27 Sep 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the Deputy and the Chairman of the Revenue Commissioners discussed this at the meeting of the Public Accounts Committee on the 22nd. September. While there is no one dedicated phone number, the Chairman outlined that people can, and do, advise Revenue of evidence of tax evasion through the network of local offices, by phone, email or letter....