Results 3,281-3,300 of 27,019 for speaker:Michael Noonan

Seanad: Statements on Finance (6 Oct 2011)

Michael Noonan: There are various estimates, but how can we know the real figure with illegal activity? We just have a rough estimate. I can get some figures on it for the Senator, but I would not vouch for their accuracy.

Seanad: Statements on Finance (6 Oct 2011)

Michael Noonan: People must make up their own minds on that. The big run of retirements from the public service are people who can retire up to February of 2012 and have their pension based on public service pay before the reductions were introduced. That is the big incentive and quite a lot of people are contemplating that. I cannot be more accurate than that. I will have to get the figure with regard to...

Seanad: National Asset Management Agency (6 Oct 2011)

Michael Noonan: I thank Senator Byrne for raising this issue. Section 10(2) of the National Asset Management Agency Act provides that NAMA shall obtain the best achievable financial return for the State with regard to its operations. NAMA assures me that it is fully focused on doing just that. The chairman of NAMA recently informed the Joint Committee on Finance, Public Expenditure and Reform that it...

Seanad: National Asset Management Agency (6 Oct 2011)

Michael Noonan: NAMA is independent under the legislation that established it. Senator Byrne tabled a question on the Adjournment and NAMA provided me with the information on the point raised by Senator Byrne. It is not correct to say that NAMA does not try to realise the full amount owed by any debtor. The intention is to get 100% but we know that that is unrealistic in many cases.

Seanad: National Asset Management Agency (6 Oct 2011)

Michael Noonan: NAMA must do its best. It is using market forces to recover as much as it can. The alternative is to appoint receivers, which costs €180 an hour, and there is no incentive other than to run down the business, sell the assets and give whatever is left to the creditors.

Seanad: National Asset Management Agency (6 Oct 2011)

Michael Noonan: No, just this one.

Seanad: National Asset Management Agency (6 Oct 2011)

Michael Noonan: I hear what Senator Byrne is saying. There are many unsatisfactory aspects to the situation of the past 12 months.

Seanad: National Asset Management Agency (6 Oct 2011)

Michael Noonan: These are new ways of dealing with unprecedented crises and they must be adjusted in light of experience. We will take the views of Senator Byrne into account.

Tax Reliefs (11 Oct 2011)

Michael Noonan: The patent royalty exemption provided a tax exemption for income received by an individual or company from a qualifying patent, subject to an annual limit of €5 million. It also provided a tax exemption for distributions paid by companies from exempt patent income. The patent royalty exemption was abolished in the Finance Act 2011 on foot of a recommendation from the Commission on...

Tax Reliefs (11 Oct 2011)

Michael Noonan: The scheme was not abolished in an arbitrary fashion or by political or administrative decision but only after a full review by the Commission on Taxation. The commission's view was that while the relief provided additional windfall taxes to persons who registered patents, it did not act as an incentive for additional research and development, as was its objective in the first instance....

Written Answers — Disabled Drivers: Disabled Drivers (11 Oct 2011)

Michael Noonan: The initial application for a Primary Medical Certificate under the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994, is made to the Senior Medical Officer of the relevant local Health Service Executive administrative area. If the Primary Medical Certificate has been refused in this case, the named person may appeal the refusal to the Disabled Drivers Medical...

Written Answers — Financial Services Regulation: Financial Services Regulation (11 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 90 and 113 together. The correspondence referred to in the Questions relate to lending restrictions imposed by the Registrar of Credit Unions and amendments to the Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011. The role of the Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective...

Written Answers — Tax Yield: Tax Yield (11 Oct 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the tax take in respect of alcohol products tax for the years 2008, 2009 and 2010 are as follows: Beer Spirits Wine Cider Total € m € m € m € m € m 2008 427.2 350.9 231.3 60.6 1,069.9 2009 404.3 264.1 242.5 57.1 968.0 2010 320.1 243.5 218.8 44.0 826.4

Written Answers — Tax Code: Tax Code (11 Oct 2011)

Michael Noonan: Historically, flat rates of duty applied to the various licences for the sale of alcohol. That position was changed, however, by the Finance Act 1992, which introduced a new system of duty related to turnover for spirit retailers' on-licences (that is, pub licences). The duty for off-licences is still charged on a flat rate basis. The rates of duty for pub licences have not been increased...

Written Answers — Liquor Licences: Liquor Licences (11 Oct 2011)

Michael Noonan: The Revenue Commissioners inform me that the number of off-licences issued and the total receipts to the Exchequer from excise licences in this sector in the years 2006, 2007, 2008, 2009, and 2010 are as follows: 2006 2007 2008 2009 2010 No. Issued Receipts No. Issued Receipts No. Issued Receipts No. Issued Receipts No. Issued Receipts Off-Licences Spirit Retailer's 1,170 €295,750...

Written Answers — Liquor Licences: Liquor Licences (11 Oct 2011)

Michael Noonan: The Revenue Commissioners inform me that the number of pub-licences issued and the total receipts to the Exchequer from excise licences in this sector in the years 2006, 2007, 2008, 2009, and 2010 are as follows: 2006 2007 2008 2009 2010 No. Issued Receipts No. Issued Receipts No. Issued Receipts No. Issued Receipts No. Issued Receipts Publicans Full 9,541 €7,957,667 9,402...

Written Answers — Tax Yield: Tax Yield (11 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 95 to 98, inclusive, together. I assume the Deputy is referring to the excise receipts to the Exchequer, and the associated volumes, from excises on alcohol. I am advised by the Revenue Commissioners that as excise receipts on alcohol are not distinguished between alcohol subsequently sold in licensed pubs and sold in off-licences there is no statistical...

Written Answers — Tax Code: Tax Code (11 Oct 2011)

Michael Noonan: I am informed by the Revenue Commissioners that beer with an alcoholic strength by volume of more than 1.2 per cent and not more than 2.8 per cent is subject to a rate of Alcohol Products Tax which is 50 per cent of the rate that applies to beer with a strength by volume of more than 2.8 per cent. Cider or perry not exceeding 2.8 per cent alcohol by volume is subject to a rate of tax...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (11 Oct 2011)

Michael Noonan: I would not accept the Deputy's contention that there has been a delay in the restructuring of the boards of the covered institutions. I announced on 31 March 2011 that the covered institutions were to draw up plans to restructure their respective boards. The present policy concerning directors at the covered institutions is that all directors, who presided over the failed lending practices...

Written Answers — Financial Services Regulation: Financial Services Regulation (11 Oct 2011)

Michael Noonan: The submission supplied by the Deputy refers to concerns raised by a credit union in relation to the manner and extent of the actions of the Registrar of Credit Unions and, in particular, recent actions which are reported by the media to have intensified. While the submission does not directly mention lending restrictions, I expect that this is the recent activity to which the submission...