Results 4,721-4,740 of 27,019 for speaker:Michael Noonan

Written Answers — Mortgage Arrears: Mortgage Arrears (21 Feb 2012)

Michael Noonan: Subject to the provisions of the Central Bank Code of Conduct on Mortgage Arrears and the wider legal framework, the banks in Ireland, including those in which the State has a significant shareholding, are independent commercial entities and decisions on the handling of their loans, including mortgages, are, in the first instance, a commercial matter for the individual institutions. However,...

Written Answers — Tax Code: Tax Code (21 Feb 2012)

Michael Noonan: Under Section 83 of the Finance Bill 2012 I am proposing to apply the 9% reduced VAT rate to admissions to open farms with effect from 1 January 2012.

Written Answers — Currency Exchange: Currency Exchange (21 Feb 2012)

Michael Noonan: I am informed by the Central Bank that the outstanding amount of punts remaining to be exchanged for euros at the Central Bank of Ireland at the end of January 2011 was as follows:

Written Answers — Currency Exchange: Currency Exchange (21 Feb 2012)

Michael Noonan: · Irish £ banknotes €237.4 million

Written Answers — Currency Exchange: Currency Exchange (21 Feb 2012)

Michael Noonan: · Irish £ coin €125.1 million Section 121 of the Central Bank Act 1989, as inserted by Section 18 of the Economic and Monetary Union Act 1998, provides that the Central Bank of Ireland may continue to redeem Irish pound notes, or any other notes that were previously legal tender. The Government does not intend to introduce a final date for exchange of outstanding punts at this time, but...

Written Answers — Currency Exchange: Currency Exchange (21 Feb 2012)

Michael Noonan: I have been informed by the Central Bank that some €2.6m was exchanged from punts to euros at the Central Bank of Ireland in 2011, with some variation in the daily amounts. The Central Bank is satisfied of the legitimacy of the level of exchange, which is derived from various sources. The Central Bank does not have details of the profile of larger exchanges, but I am advised that it...

Written Answers — Tax Yield: Tax Yield (21 Feb 2012)

Michael Noonan: As the Deputy will be aware Finance Bill 2012 contains two proposed measures aimed at reducing the cost to the State of the "legacy" property-based tax incentive schemes and bringing it to an end in a shorter time period. These measures consist of a property relief surcharge, which will take effect from 1 January 2012 and a cap on property-based Accelerated Capital Allowance Schemes to be...

Written Answers — Tax Yield: Tax Yield (21 Feb 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the latest relevant information available as to the cost to the Exchequer of all property related tax schemes (Section 23 type reliefs and accelerated capital allowances) is for the year 2009, based on personal income tax returns filed by non-PAYE taxpayers and corporation tax returns filed by companies for that year. On that basis the estimated...

Written Answers — Tax Yield: Tax Yield (21 Feb 2012)

Michael Noonan: At Budget time, the Government carefully considered the various options open to it in terms of taxation. One of the key objectives of the Government is to get people back to work. Indirect taxes have a less adverse impact on economic activity and employment, which is why Budget 2012 focused on indirect taxes, such as VAT, rather than on income tax. As we have very little actual data for 2012...

Written Answers — Financial Services Regulation: Financial Services Regulation (21 Feb 2012)

Michael Noonan: The 6 charities listed below are eligible charities for the purposes of a tax exemption and have their addresses at the IFSC. CHY8877 Treoir, The National Federation of Services for Unmarried Parents 14 Gandon House Custom House Square IFSC Dublin 1 CHY12414 HEAnet Ltd 5 Georges Dock IFSC Dublin 1 CHY9928 National College of Ireland Mayor Street IFSC Dublin 1 CHY15929 National...

Written Answers — Insurance Premiums: Insurance Premiums (21 Feb 2012)

Michael Noonan: The Deputy should note at the outset that neither the Central Bank, nor I have powers to direct an insurance company as to how it should price its insurance policies. This is a commercial decision for the company in question. However in relation to the European Court of Justice ruling in the Test Achats case, the EU Commission has brought out guidelines on the application of the court...

Written Answers — Pension Provisions: Pension Provisions (21 Feb 2012)

Michael Noonan: Not all of the information sought by the Deputy is available. This is because members of pension schemes are not charged with paying the 0.6% stamp duty levy on pension fund assets which was introduced last year. The levy is a charge on the trustees of pension schemes and on the insurers and administrators who manage the assets of pension schemes and it is they who are liable to pay the...

Written Answers — Credit Availability: Credit Availability (21 Feb 2012)

Michael Noonan: The European Progress Microfinance Facility is a facility which enables selected microcredit providers in the EU to increase lending, by issuing guarantees, thereby sharing the providers' potential risk of loss and by providing funding to increase microcredit lending. The microcredit providers may be private or public banks, non-bank microfinance institutions and not-for-profit microcredit...

Written Answers — Tax Reliefs: Tax Reliefs (21 Feb 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the total amounts of research and development tax credits allowed from 2006 to 2009, the latest year available, are shown in the following table. Year Research and Development Tax Credit €m 2006 74.7 2007 165.6 2008 146.0 2009 216.1 The credits shown above are derived from the corporation tax returns for accounting periods ending in...

Written Answers — State Banking Sector: State Banking Sector (21 Feb 2012)

Michael Noonan: The Deputy will appreciate that much of the information requested in his question is subject to external factors and that it is not practical to be definitive in terms timelines or costs at this point. Suffice to say that the Board of the bank is charged with the work-out of the Bank's assets in a manner that will best protect the interests of the State. However, the framework within which...

Written Answers — Departmental Reports: Departmental Reports (21 Feb 2012)

Michael Noonan: A draft of the internal report has been prepared by management in my Department with the professional support of the Department's Internal Audit Unit. Following advice from the Attorney General's Office, it is being circulated to some of the parties involved who will be allowed sufficient time to provide their final comments on it. Thereafter, the report will be finalised and submitted to me...

Written Answers — Financial Services Regulation: Financial Services Regulation (21 Feb 2012)

Michael Noonan: The Central Bank Reform Act 2010 Act provides for new powers to be exercised by the Bank to ensure the fitness and probity of nominees to key positions within financial service providers and of key office-holders within those providers. The new fitness and probity regime is being rolled out by the Central Bank through a code and regulations that were published on 1 September 2011. The...

Written Answers — National Asset Management Agency: National Asset Management Agency (21 Feb 2012)

Michael Noonan: NAMA advises me that in the case of 31 of the 188 debtors under its direct management, it has secured agreement to reverse asset transfers with an aggregate value of €160m. In another 17 cases, assets transfers have been identified and NAMA is confident that its current discussions with debtors will conclude with additional transfer reversals or the granting of charges to it over...

Written Answers — Financial Services Regulation: Financial Services Regulation (21 Feb 2012)

Michael Noonan: The Central Bank have advised me that the company referred to in the Deputy's question is not regulated by them and that there are no authorised providers of pay day loans in the State at present. If a company wishes to offer a pay day loan service in the State it would have to seek a money lender's licence from the Central Bank to do so. Moneylenders have to apply to the Central Bank...

Written Answers — Banks Capitalisation: Banks Capitalisation (21 Feb 2012)

Michael Noonan: I refer the Deputy to my replies to recent Parliamentary Questions (ref: 35901/11 of 22 November 2011 and 38796/11 of 6 December 2011), which address the query raised in his latest question. The position as regards this matter has not changed. I am advised by the Central Bank of Ireland (CBI), that they assisted the European Banking Authority (EBA) in carrying out a European-wide bank...