Results 4,661-4,680 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of mineral oil tax and for tackling the illicit trade in mineral oil products, that they are acutely aware of the various illegal activities that lead to loss to the Exchequer of mineral oil tax. The most serious risk in this regard is the large scale laundering of markers from mineral oil (diesel), and the...

Written Answers — Departmental Staff: Departmental Staff (14 Feb 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the cost of overtime attributable to staff attendance for the exceptional opening of Revenue's lo-call service on Saturday 7 January 2012 is €39,080.67.

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

Michael Noonan: I am advised by the Revenue Commissioners that the 2011 version of the Form 12 is currently being finalised and should be available very soon. This is in line with the usual timetable for the production of the form. In the meantime, if a taxpayer wishes to complete a return of income for 2011 they should contact their local Revenue office where they will be issued with an adapted version of...

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

Michael Noonan: It is not clear from the question whether the Deputy's reference to "retirement packages" is to retirement lump sums or to the combination of lump sum and pension. An individual in receipt of pension income is liable to tax on that income at his or her marginal rate of income tax. I have no plans to change these arrangements. I am informed by the Revenue Commissioners that two separate tax...

Written Answers — EU Payments: EU Payments (14 Feb 2012)

Michael Noonan: I propose to take Questions Nos. 142 and 143 together. In relation to payments made by the State to the European Union and total payments received by the State from the European Union since 1973, these details are at Table 10 of the document "Budgetary and Economic Statistics" published by my Department in September 2011. The document can be obtained from the following website address:...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (14 Feb 2012)

Michael Noonan: As the Deputy will be aware, notwithstanding the fact that the State is a significant shareholder in AIB, the bank is run on a commercial arm's length basis and I do not have a role in the day-to-day commercial and operational decisions taken by the board and management of the bank. In relation to employment costs, the management and board of the bank are aware of their duties to their...

Written Answers — Disabled Drivers: Disabled Drivers (14 Feb 2012)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of a car adapted for the transport of a person with specific severe and permanent physical disabilities, to those who meet certain disability criteria. The disability criteria for eligibility for the tax concessions under this scheme are set out in...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (14 Feb 2012)

Michael Noonan: While IBRC is wholly State owned, it is not formally covered by public procurement rules as its commercial remit makes it subject to market forces. Under the Relationship Framework the Board of the bank is responsible for the day to day operations of the bank. The bank has retained the services of the 'strategic advisory arm' of the Group, referred to in the question. The bank has...

Written Answers — State Aid: State Aid (14 Feb 2012)

Michael Noonan: IBRC is bound to adhere to the requirements of the EU Commission state aid decision on the revised restructuring plan for Anglo Irish Bank and Irish Nationwide Building Society. The commitments set out in the decision are monitored by a monitoring trustee approved by the Commission. The Commission decision does not determine whether or how assets should be sold by the Bank or through a...

Written Answers — State Aid: State Aid (14 Feb 2012)

Michael Noonan: As the Deputy will be aware, a key component of the Financial Measures Programme is the establishment of deleveraging plans to reduce the Irish banking system to an appropriate size and to stabilise its funding base. The Central Bank has agreed with the troika that a sustainable Loan to Deposit Ratio for the aggregate domestic banking system is 122.5%. As a first step in the Financial...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Feb 2012)

Michael Noonan: I propose to take Questions Nos. 149 to 151, inclusive, together. I am informed by NAMA that it does not pay salaries to its debtors. In certain cases, NAMA allows debtors to retain part of the income from their income-producing assets to pay overheads, including salaries. In other cases, such as development assets, NAMA will provide funding for overheads to enable works to be brought to...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Feb 2012)

Michael Noonan: I am informed by NAMA that details regarding NAMA borrowers who have assets producing rental income from the State, State entities or semi-State entities are not yet available. However, NAMA informs me that the loan due diligence process is currently approaching completion and a database with detailed information on the collateral securing acquired loans, including lease arrangements, is in...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Feb 2012)

Michael Noonan: I propose to take Questions Nos. 153 and 154 together. NAMA has appointed two panels of Loan Sale Advisors for both Europe (including UK) and the US to assist the agency in selling acquired loans that are linked to assets in those markets. There are 13 firms on the Europe panel and 10 firms on the US panel. Seven firms are common to both panels, which means that there are 16 firms in total....

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Feb 2012)

Michael Noonan: The details requested by the Deputy are set out hereunder. It should be noted that the details are on a cash paid basis as opposed to the accrual accounting basis that must be used in the Agency's annual financial statements. It should also be noted that the figures for 2012 are those incurred up to 6 February only. Total Legal expenses by year (€) Year Base Amount 2010 9,746,625.68...

Written Answers — Departmental Staff: Departmental Staff (14 Feb 2012)

Michael Noonan: An organisational chart detailing the responsibilities of certain officials in my Department is as follows. Department of Finance: Management Chart February 2012 Minister's Office Press Office Division Senior Staff Secretary General Vacancy International Financial Institutions/EU Budget and Finance Directorate Paul Ryan Human Resource Manager Niall Ó Ceallaigh Second Secretary General...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Feb 2012)

Michael Noonan: NAMA informs me that it cannot provide all the details requested by the Deputy in the time available. NAMA has undertaken to provide me with this information before the end of the week and, accordingly, I will issue a reply to the Deputy at that stage. In the meantime, I can provide the Deputy with certain information on legal fees. These details are set out as follows. NAMA advise that the...

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

Michael Noonan: I am informed by the Revenue Commissioners that the quantities of marked diesel for which mineral oil tax was paid in 2010 and 2011 were 1.226 billion litres and 1.155 billion litres respectively, and the net mineral oil tax receipts for those years in respect of that fuel were €51.04 million and €50.49 million. Premises or places from which marked diesel is sold or delivered, other than...

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

Michael Noonan: As the Deputy notes an individual who rents out their residential property may be allowed a deduction (subject to certain conditions) in computing the taxable rents from that letting of 75% of the interest accruing on money borrowed to purchase, improve or repair that property. The level at which interest repayments could be claimed against tax for residential rental properties was reduced...

Written Answers — Sovereign Debt: Sovereign Debt (14 Feb 2012)

Michael Noonan: There has been much speculation in recent months about the extent of the European Central Bank's (ECB) purchases of sovereign debt on the secondary markets. The Central Bank and Financial Services Authority of Ireland maintains the register of holders of Irish Government bonds. I am informed by the Central Bank however that the ECB does not disclose its holdings of sovereign debt and...

Written Answers — Crime Prevention: Crime Prevention (14 Feb 2012)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of mineral oil tax and for tackling the illicit trade in mineral oil products, that they are acutely aware of the various illegal activities that lead to loss to the Exchequer of mineral oil tax. The most serious risk in this regard is the large scale laundering of markers from mineral oil (diesel), and the...