Results 3,761-3,780 of 27,019 for speaker:Michael Noonan

Written Answers — Budget Submissions: Budget Submissions (16 Nov 2011)

Michael Noonan: As the Deputy may be aware this matter is the subject of a Pre-Budget submission and as such will be considered in the context of the forthcoming Budget.

Written Answers — Tax Code: Tax Code (16 Nov 2011)

Michael Noonan: I propose to take Questions Nos. 69 to 71, inclusive, together. As the Deputy may be aware these matters are the subject of a Pre-Budget submission and as such will be considered in the context of the forthcoming Budget.

Written Answers — Budget Submissions: Budget Submissions (16 Nov 2011)

Michael Noonan: I propose to take Questions Nos. 72 and 73 together. As the Deputy may be aware these matters are the subject of a Pre-Budget submission and as such will be considered in the context of the forthcoming Budget.

Written Answers — Tax Code: Tax Code (16 Nov 2011)

Michael Noonan: I propose to take Questions Nos. 74 and 82 together. The proposed Betting (Amendment) Bill, which is being drafted at present, will amend the 1931 Betting Act to inter alia establish the regulatory framework for the licensing of remote bookmakers and betting exchanges, including measures to enforce the regulatory framework. The extension of the opening hours of retail betting shops over the...

Written Answers — Tax Code: Tax Code (16 Nov 2011)

Michael Noonan: The Finance (No. 2) Act 2011 provided for a second reduced VAT rate, of 9%, on a temporary basis in respect of certain tourism-related services and goods for the period 1 July 2011 to end 2013. Businesses must account for VAT at the 9% rate on these specified goods and services provided by them on or after 1 July 2011. Where the goods and services are supplied to another VAT-registered...

Written Answers — State Agencies: State Agencies (16 Nov 2011)

Michael Noonan: The question of rationalisation and the reduction in the number of State bodies is being considered in the context of the Comprehensive Review of Expenditure and the overall budgetary and estimates process for 2012, and decisions on such matters will be made by the Government over the coming weeks. The priorities set out in the Programme for Government for the rationalisation of State...

Written Answers — Budget Submissions: Budget Submissions (16 Nov 2011)

Michael Noonan: As the Deputy may be aware this matter is the subject of a Pre-Budget submission and as such will be considered in the context of the forthcoming Budget.

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (16 Nov 2011)

Michael Noonan: I propose to take Questions Nos. 78 and 79 together. None of the guaranteed banks publically discloses the average interest charged by product type as it is commercially sensitive information. However, I have set out in the following table publically available information from the three major covered banks' recent results which indicate the net interest margin being generated. Net interest...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (16 Nov 2011)

Michael Noonan: I propose to take Questions Nos. 80 and 81 together. The Central Bank of Ireland has informed me that it does not conduct comparisons across local/international banks or banking sectors. They have also informed me that bank operating costs, funding costs and profitability vary significantly by jurisdiction, credit rating and time. This is due to differences in local law, products sold,...

Written Answers — Ministerial Appointments: Ministerial Appointments (16 Nov 2011)

Michael Noonan: In response to the Deputy's question the information in relation to appointments in relation to the period in question is as follows: Membership of the Commission on Credit Unions The Commission on Credit Unions has a Chair and 12 ordinary members. They were appointed by Government in June 2011. Members are listed as follows: Chairman Professor Donal McKillop (Professor of Financial...

Written Answers — Tax Code: Tax Code (16 Nov 2011)

Michael Noonan: Any changes in the VAT rates will be determined in the context of the annual Budget and Finance Bill cycle.

Written Answers — Credit Availability: Credit Availability (16 Nov 2011)

Michael Noonan: I propose to take Questions Nos. 85 and 86 together. The restructuring of the domestic banking sector creates capacity for the pillar banks to lend in excess of €30 billion over the next three years in SME and other important sectors. This is in excess of Central Bank estimates of the likely demand for SME and mortgage credit over this period. Both pillar banks are concentrating on the...

Written Answers — Credit Availability: Credit Availability (16 Nov 2011)

Michael Noonan: The level of lending by the pillar banks to SMEs in Waterford city and county this year is commercially sensitive and banks do not report at county level. However, Mr John Trethowan, Head of the Credit Review Office, indicated in his fourth quarterly report that as part of his monitoring he has been able to show that no region, nor any trade sector, has experienced any adverse disadvantage in...

Written Answers — State Banking Sector: State Banking Sector (16 Nov 2011)

Michael Noonan: In 2010 the previous Government issued promissory notes to a number of financial institutions, primarily Anglo Irish Bank. These promissory notes amounted to €30.85 billion - €25.3bn to Anglo Irish Bank, €5.3bn to Irish Nationwide Building Society and €250m to the Educational Building Society. The effect of this was to increase the General Government Deficit by €30.85 billion or...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (16 Nov 2011)

Michael Noonan: So far this year, the Exchequer has provided a net €6.5 billion in the context of the recapitalisation of the banking sector announced in July. A further €10 billion has been provided from the National Pensions Reserve Fund in that regard. The first €3.1 billion Exchequer payment in respect of the Promissory Notes committed to a number of financial institutions in 2010 was also made...

Written Answers — Tax Code: Tax Code (16 Nov 2011)

Michael Noonan: It is assumed that the threshold for the proposed new tax band mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2012 incomes, of the introduction of a new 48% rate...

Written Answers — Tax Code: Tax Code (16 Nov 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the information requested, estimated by reference to the income tax year 2011, is set out in the following table. All Income Earners for Income Tax Year 2011 (provisional) Gross Income€ Number 80,000 or less 1,963,480 80,001 - 90,000 47,247 90,001 - 100,000 32,818 100,001 - 120,000 41,068 120,001 - 140,000 22,589 140,001 - 160,000...

Written Answers — Tax Code: Tax Code (16 Nov 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the standard basis for any estimate of the tax yield from the action suggested by the Deputy would be the tax returns filed for the year 2009 (the latest year for which such information is available). Assuming that the proposed levy would apply to the same taxable income of all companies to which current standard rate of corporation tax rate...

Written Answers — Tax Code: Tax Code (16 Nov 2011)

Michael Noonan: I wish to advise the Deputy that companies operating in Ireland are chargeable to corporation tax at the 121⁄2 per cent rate on their trading profits. A higher 25 per cent rate applies in respect of investment, rental and other non-trading profits and chargeable capital gains. This rate also applies in respect of certain petroleum, mining or land dealing activities. The 10 per cent...

Written Answers — Tax Code: Tax Code (16 Nov 2011)

Michael Noonan: The theory behind site value tax – or land value tax, as it is often called – is that tax is calculated by reference to the value of the land or site irrespective of whether there is a property on the site, or of what type of property is in place. I am informed by the Revenue Commissioners that they have no statistical basis for compiling estimates in relation to site values. I am not...