Results 4,641-4,660 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (9 Feb 2012)

Michael Noonan: The person concerned retired in 2006 but it is unclear from records held by Revenue when he made a payment in respect of superannuation contributions to his former employer. He should contact Mr. Diarmuid O'Connor, Revenue Commissioners, Blackpool, Cork (Tel 021-6027506) to clarify this matter as it has a bearing on his entitlement to relief in respect of the superannuation contributions...

Written Answers — International Agreements: International Agreements (9 Feb 2012)

Michael Noonan: I propose to take Questions Nos. 57 to 59, inclusive, together. The debt correction requirement in the new intergovernmental treaty, which will apply to Ireland, as our General Government debt/GDP ratio is currently above 60%, is the same as is already required under the reforms of the Stability and Growth Pact as part of the so-called 'six pack' of legislative reforms. Specifically, we will...

Written Answers — Personal Debt: Personal Debt (9 Feb 2012)

Michael Noonan: I note that the Central Bank, in its January 2012 Quarterly Bulletin, published a paper by economists in the Bank on "The Irish Mortgage Market: Stylised Facts, negative Equity and Arrears". This paper, which is based on research material previously released by the Bank at a Conference it held on the Irish mortgage market last October, provides very useful and detailed data on the Irish...

Written Answers — International Agreements: International Agreements (9 Feb 2012)

Michael Noonan: The ESM treaty was signed by euro area member states on 2 February 2012. The ESM will be an international financial institution based in Luxembourg. Its purpose will be to provide financial assistance to its members (euro area member states), experiencing or being threatened by severe financing problems, if indispensable for safeguarding financial stability in the Euro Area as a whole. The...

Written Answers — Financial Services Regulation: Financial Services Regulation (9 Feb 2012)

Michael Noonan: I have been advised by the Central Bank that the number of registered moneylenders with the Central Bank at the end of 2011 was 48. Any firm wishing to operate in the State as a moneylender has to apply to the Central Bank for a moneylender's licence and must have their licence renewed annually. Section 93 of the Consumer Credit Act 1995 (as amended) sets out the Central Bank's powers in...

Written Answers — State Banking Sector: State Banking Sector (9 Feb 2012)

Michael Noonan: The information requested, as at 31 January 2012, has been supplied by the covered institutions as follows: AIB BoI IBRC ILP Total €bn €bn €bn €bn €bn Senior Unsecured (Unguaranteed) 4.64 2.60 1.40 0.80 Senior Unsecured (Guaranteed) 6.47 2.68 4.53 Senior Secured 4.60 15.20 2.71 Total Senior bonds outstanding 15.71 17.80 4.08 8.04 45.63 Dated Subordinated Debt 0.12 0.30...

Written Answers — Exchequer Savings: Exchequer Savings (9 Feb 2012)

Michael Noonan: Retired public servants in receipt of a pension in excess of €50,000 per annum are currently subject to income tax at 41% and Universal Social Charge at 7% or 4% if they are 70 years old or over. A new temporary charge of 75% on income in excess of €50,000 could bring their tax liability on this income to 123%. I assume that this is not the Deputy's intention. Furthermore, I am of...

Written Answers — Disabled Drivers: Disabled Drivers (9 Feb 2012)

Michael Noonan: I wish to inform the Deputy that a person with a disability, driving a vehicle with an engine size over two litres is not entitled to relief under the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994. I am not aware of any law that would prevent a person with a disability from driving a vehicle with an engine size over two litres.

Written Answers — Departmental Expenditure: Departmental Expenditure (9 Feb 2012)

Michael Noonan: I can advise the Deputy that the following payments were paid in respect of professional services as referred to in the Deputy's question. The Department of Finance has made the payments outlined below in relation to professional services on the banking crisis. Consultant 2008 2010 2011 Description of advice provided Mercer (Ireland) Ltd. - €3,308 - - Advice to CIROC Watson (Wyatt)...

Written Answers — Tax Code: Tax Code (9 Feb 2012)

Michael Noonan: 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 drafting of the Bill, which is fairly complex, is well advanced. The Finance Act 2011 contained measures to allow for...

Written Answers — Departmental Bodies: Departmental Bodies (9 Feb 2012)

Michael Noonan: In response to the Deputy's question the following bodies under the aegis of my Department have been set up or abolished since February 2011: New Economy and Recovery Authority (NewERA) was established within the National Treasury Management Agency (NTMA). The Fiscal Advisory Council has been established as an independent non–statutory body. It will be put on a statutory basis underpinned...

Written Answers — Tax Reliefs: Tax Reliefs (9 Feb 2012)

Michael Noonan: As I announced in the Budget, the proposed new 30% rate of tax relief in respect of interest paid on qualifying home loans for first time buyers who took out their first qualifying home loan in the period between 2004 and 2008 (both dates inclusive) comes into effect as regards the 2012 tax year and subsequent tax years. The necessary legislation is included in the Finance Bill which I...

Finance Bill 2012: Order for Second Stage (14 Feb 2012)

Michael Noonan: I move: "That Second Stage be taken now." Question put and agreed to.

Finance Bill 2012: Second Stage (14 Feb 2012)

Michael Noonan: I move: "That the Bill be now read a Second Time." An empty House when the Finance Bill is being introduced must mean the crisis is over. Ireland is recovering from the most severe downturn in the history of the State with crises in both the public finances and the banking system. However, we have tackled those challenges head on and the country is now making substantial progress. We are on...

Finance Bill 2012: Second Stage (14 Feb 2012)

Michael Noonan: I will do my best. Sections 57 and 58 modify CGT retirement relief to encourage timely transfers of farms and businesses. Sections 59 and 61 provide for CGT exemptions for State bodies, namely Teagasc, local government corporate service bodies, the Grangegorman Development Agency, and disposals by the Dublin Institute of Technology to the Grangegorman Development Agency. Section 60 provides...

Finance Bill 2012: Second Stage (14 Feb 2012)

Michael Noonan: A TD from Dún Laoghaire.

Finance Bill 2012: Second Stage (14 Feb 2012)

Michael Noonan: Are you for anything?

Written Answers — Tax Code: Tax Code (14 Feb 2012)

Michael Noonan: I would point out initially that the carbon tax does not apply to electricity and as such ESB bills do not include a carbon tax element, to which VAT would apply. The amount on which VAT is chargeable, in accordance with section 37(1) of the Value-Added Tax Consolidation Act 2010, is the total consideration receivable by the supplier, "including all taxes, commissions, costs and charges...

Written Answers — International Agreements: International Agreements (14 Feb 2012)

Michael Noonan: The ESM treaty was signed by Euro Area Member States on 2 February 2012. The original version of the treaty was signed on 11 July 2011, but it has been modified to incorporate decisions taken by the Heads of State and Government (HoSG) of the Euro Area on 21 July and 9 December 2011, aimed at improving the effectiveness of the mechanism. The treaty will have to be ratified by the 17 Euro...

Written Answers — Tax Code: Tax Code (14 Feb 2012)

Michael Noonan: Unfortunately, it was not possible to collate the information required for this answer in the time allowed. I will provide the Deputy with the answer in writing shortly.