Results 4,421-4,440 of 27,019 for speaker:Michael Noonan

Written Answers — Appointments to State Boards: Appointments to State Boards (31 Jan 2012)

Michael Noonan: In response to the Deputy's question the following appointments were made in respect of bodies under the aegis of my Department since March 2011. Fiscal Advisory Council The following people were appointed to the Fiscal Advisory Council: Mr Sebastian Barnes Professor Alan Barrett Dr Donal Donovan Professor John McHale, Chair Dr Roisin O'Sullivan As Minister for Finance I announced the...

Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (31 Jan 2012)

Michael Noonan: The person concerned called to the Revenue office in Cork in early January and was advised that he was exempt from tax. On a more detailed review, it now appears that this information was incorrect, and Revenue regrets any distress caused by the incorrect information. The most recent figures available to Revenue indicate that an occupational pension of approximately €25,000 was paid in...

Written Answers — Tax Collection: Tax Collection (31 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned is in receipt of an Occupational Pension and a pension from the Department of Social Protection which provide him a combined taxable income of approximately €40,000. Tax credits and reliefs have been applied to this income and a revised Tax Credit and Universal Social Charge Certificate issued to the persons concerned in...

Written Answers — State Banking Sector: State Banking Sector (31 Jan 2012)

Michael Noonan: The list of unsecured unguaranteed bonds due to be paid in 2012 and 2013 is set out in a table. As already indicated the bank has no means of establishing the underlying ownership of these securities which are freely tradeable once issued. These securities are publicly traded and dealt through market participants and settled by clearing house systems. An issuer does not have any access to...

Written Answers — State Banking Sector: State Banking Sector (31 Jan 2012)

Michael Noonan: As the Deputy is aware the bank has no means of establishing the underlying ownership of these securities which are freely tradeable once issued. These securities are publicly traded and dealt through market participants and settled by clearing house systems. An issuer does not have any access to the records of the clearing house. At maturity, the Bank will instruct its paying agent to...

Written Answers — Pension Provisions: Pension Provisions (31 Jan 2012)

Michael Noonan: Income tax relief at an individual's marginal tax rate is allowed (within limits) on contributions made to supplementary private pension arrangements, including personal pension plans and retirement annuity contracts. Investment growth in such pension arrangements approved by the Revenue Commissioners is also exempt from tax. The purpose of these various tax relief arrangements is to allow...

Written Answers — Government Bonds: Government Bonds (31 Jan 2012)

Michael Noonan: The information requested by the Deputy is set out in the table below. This information has been provided by the National Treasury Management Agency. Average Redemption Yield % (monthly Oct 2010 to Jan 2012*) Maturity Date Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 June-11 July-11 Aug-11 Sept-11 Oct-11 Nov-11 Dec-11 Jan-11 Mar-12 3.60 5.27 4.87 4.67 4.41 5.22 6.46 8.36...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (31 Jan 2012)

Michael Noonan: As the Deputy will be aware none of the institutions in receipt of State Aid has used State Funds directly to offset deficits in defined benefit pension schemes. This assurance, provided by the banks, would cover the direct transfer of funds provided in State Aid towards the reduction of deficits in the banks pension schemes. The institutions do contribute, as required by law and regulation,...

Written Answers — Disabled Drivers: Disabled Drivers (31 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that an authorised dealer is a person who is authorised under section 136 of the Finance Act 1992 (as amended) "to manufacture, distribute, deal in, deliver, store, repair or modify unregistered vehicles and to convert registered vehicles". Authorisation brings a number of responsibilities concerning the management and record keeping in relation to...

Written Answers — EU-IMF Programme: EU-IMF Programme (31 Jan 2012)

Michael Noonan: Table 2.1 on page 20 of the Medium-Term Fiscal Statement outlines the amount of consolidation required over the period 2012-2015 to meet the targets agreed under the EU/IMF Programme – link: http://budget.gov.ie/budgets/2012/Documents/Medium%20Term%20 Fiscal%20Statement%20November%202011.pdf Technical General Government Deficit Projections and Amount of Consolidation Required to Achieve...

Written Answers — Tax Collection: Tax Collection (31 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that, where telecommunications providers incorrectly apply VAT to charitable donations made via SMS text messages, as distinct from applying it to any fees charged by them, VAT legislation allows for the telecommunications providers to refund to their customers the VAT overcharged, provided that their systems and records are capable of identifying the...

Written Answers — Revenue Commissioners: Revenue Commissioners (31 Jan 2012)

Michael Noonan: The Revenue Commissioners have provided me with a table in relation to the information sought by the Deputy: Table 1: Head count* of Revenue staff, by grade, gender and age at 31/12/11. Age Grade Gender 20-29 30-39 40-49 50-59 Over 60 Grand Total PO F 7 7 17 2 33 M 3 11 64 6 84 PO Total 10 18 81 8 117 AP F 2 29 34 62 6 133 M 2 4 55 201 24 286 AP Total 4 33 89 263 30 419 HEO/AO F 10...

Written Answers — Customs and Excise: Customs and Excise (31 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of taxes and duties and for tackling the smuggling of dutiable and prohibited goods, including tobacco products and narcotics, that they regard anti-smuggling prevention as a high priority area. The use of enforcement equipment such as mobile x-ray scanners, Revenue cutters and other detection technologies is...

Written Answers — Financial Services Regulation: Financial Services Regulation (31 Jan 2012)

Michael Noonan: The imposition of lending restrictions is the responsibility of the Registrar of Credit Unions, who is the independent regulator for credit unions. Within his independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. As Minister for Finance, my role...

Written Answers — Tax Reliefs: Tax Reliefs (31 Jan 2012)

Michael Noonan: As I stated in my Budget speech, the Government has now fulfilled its commitment contained in the Programme for Government to increase the rate of mortgage interest relief to 30 per cent for first-time buyers who took out their first mortgage in the period 2004 to 2008. The technical detail of the legislation is currently being prepared for the Finance Bill and I will take the highlighted...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (31 Jan 2012)

Michael Noonan: As the Deputy is aware I am not in a position to provide a list of the bondholders who were repaid the gross payment of €1.25 billion. I am advised that the process of issuing new bonds is normally through underwriting, where one or more securities firms or banks form a syndicate buying the entire bond issue from the issuer and then re-selling to investors. Primary issuance is arranged by...

Written Answers — European Council Meetings: European Council Meetings (31 Jan 2012)

Michael Noonan: The Economic and Financial Affairs Council (Ecofin) usually meets monthly, although it can meet more frequently, if required. Formal Ecofin meetings are held in Brussels or Luxembourg; informal Ecofin meetings are convened in the country holding the six-monthly Presidency (usually April and October). Separately to the Ecofin meetings, Eurogroup meetings usually take place on the evening...

Written Answers — Tax Code: Tax Code (31 Jan 2012)

Michael Noonan: The Deputy will be aware that Ireland has the highest prices and excise duty levels for cigarettes in the EU and already applies a high specific duty element and a low ad valorem element in setting its excise duty for cigarettes relative to other Member States. However the question of re-balancing the excise tax structure will be examined in the context of the 2012 Finance Bill.

Written Answers — EU Directives: EU Directives (31 Jan 2012)

Michael Noonan: I am informed by the Central Bank that it does not see any material near-term impact on banks' capital levels or on their ability to work with mortgage holders in arrears from the draft Capital Requirements Directive provision on the definition of default (Article 174). In the current Capital Requirements Directive (Directive 2006/48/EC), which Ireland transposed through SI No.661 of 2006,...

Written Answers — Programme of Financial Support: Programme of Financial Support (31 Jan 2012)

Michael Noonan: To date, Ireland's nominal borrowings from the European Financial Stabilisation Mechanism and the European Financial Stability Facility under the EU/IMF Programme amount to €38.2 billion. The following table, provided by the NTMA, sets out the loans drawn down to date from each source under the EU-IMF programme of financial support for Ireland along with the interest rate for these loans....