Results 4,741-4,760 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I am informed by the Revenue Commissioners that the cost of tax foregone to the Exchequer in terms of income tax and corporation tax for the development of nursing homes for each of the years 2007 to 2009, the latest year available, is set out in the table below; Year Exchequer Cost €m 2007 18.3 2008 19.8 2009 21.6 I am also informed by the Revenue Commissioners that the information...

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

Michael Noonan: As the Deputy may be aware, the Central Bank published, on 17 February last, the latest data in relation to mortgage arrears. This shows that at end December 2011, 70,911 private residential mortgage accounts were in arrears of 90 days or more. A further 74,379 accounts were categorised as restructured at the end of December 2011, of which, 37,582 had arrears of varying categories. The...

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

Michael Noonan: The lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. Ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of each lending institution, having due regard to their customers and the impact on...

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

Michael Noonan: As announced in the Budget, the proposed new 30% rate of tax relief in respect of interest paid on qualifying homes 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. As with many of the reliefs announced in the Budget, this comes into effect...

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

Michael Noonan: The details requested by the Deputy are set out hereunder. New Advance Approvals of €980 million are split between: * Ireland (41%), * Northern Ireland (1%), * Great Britain (50%), * Other locations (8%). Actual drawdown payments of €740 million are split between: * Ireland (39%), * Northern Ireland (1%), * Great Britain (52%), * Other locations (8%). The €385 million in advances drawn...

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

Michael Noonan: The expected cost or yield of those measures referred to in the Bill which were also included in the Budget was set out on pages B.5 to B.12 of the Summary of Budget Measures document published on Budget Day. Many of the individual proposals contained in the Bill, which were not specifically referred to in the Budget, are technical in nature and do not involve significant revenue changes....

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

Michael Noonan: Section 14 of Finance Bill 2012 provides for the Special Assignee Relief Programme (SARP). This programme will reduce the cost to employers of assigning key individuals in their companies from abroad to take up positions in the Irish based operations of their employer. In recognition of differences in curriculums taught and primary languages that may be spoken by the assignee and/or their...

Written Answers — Budget Submissions: Budget Submissions (21 Feb 2012)

Michael Noonan: As part of the Budget and Finance Bill 2012 process I received submissions from in the order of 700 organisations, companies and individuals and I would of course have been in touch also with my Ministerial colleagues. Before the Budget I personally met with various groups including the Irish Farmers' Association, the Irish Creamery Milk Suppliers' Association, the Irish Business and...

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

Michael Noonan: As the Deputy will be aware, the Special Assignment Relief Programme (SARP) announced in the Budget was not in force for the tax years 2008 to 2011. The relief will come into force for the tax years 2012 and subsequent tax years when the current Finance Bill passes all Stages in both houses of the Oireachtas and is signed into law by the President.

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

Michael Noonan: I am informed by the Revenue Commissioners that there are no tax reliefs available which are specific to aircraft lessors. In general, however, a company carrying on a trade of aircraft leasing would, similar to any other company carrying on a trade, be charged to corporation tax, in respect of its trading income at a rate of 12.5%. In addition, when computing its profits for an accounting...

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

Michael Noonan: The yield from removing the tax exemption for the first 36 days of Illness Benefit and Occupational Injury is estimated at €13 million in a full year which was stated in the Budget 2012 Booklet. This information is available, along with all other Budget 2012 taxation measures, on my Department's website at www.finance.gov.ie.

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

Michael Noonan: The cost of increasing mortgage interest relief to 30 per cent for first-time buyers who took out their first mortgage in the period 2004 to 2008 is estimated at €52 million in a full year which was stated in the Budget 2012 Booklet. This information is available, along with all other Budget 2012 taxation measures, on my Department's website at www.finance.gov.ie.

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

Michael Noonan: In response to the Deputy's Question details of the occasions on which photographers were used since coming to office are contained in the following table: Use of Photographer Company used Details Cost € Maxwell Photography Ltd Brian Lenihan - photo required for Minster's Conference - Engaged on 30th March 2011 €424.41 Maxwell Photography Ltd Signing of Taxation agreement with...

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

Michael Noonan: The information requested by the Deputy is commercially sensitive and is not specifically disclosed by the Central Bank. However, details of Anglo Irish Bank's primary sources of funding are disclosed in the former bank's interim report for the six months ended 30 June 2011which are accessible at the attached link. These accounts will be updated in the IBRC Annual Report & Accounts for 2011...

Written Answers — Consultancy Contracts: Consultancy Contracts (21 Feb 2012)

Michael Noonan: I have been assured by the bank that no conflict of interest arises from the retention by IBRC of the advisors referred to in the Deputy's question. I can confirm that FTI Consulting provided independent advice to the Bank in relation to the appointment of the strategic advisory arm of the company referred to in the question. Specifically FTI advised the bank in relation to the absence of...

Written Answers — Customs and Excise Seizures: Customs and Excise Seizures (21 Feb 2012)

Michael Noonan: The Revenue Commissioners are the State agency with primary responsibility for the control of imports and exports. They are also responsible for the collection of all taxes and duties, including tobacco products tax, and for tackling the illicit trade in cigarettes and tobacco products and for prosecuting those involved. The Commissioners also enforce import and export prohibitions and...

Written Answers — Ministerial Appointments: Ministerial Appointments (21 Feb 2012)

Michael Noonan: I have appointed Mr Michael Geoghegan to chair a small group of advisors to advise me on the future strategic direction of NAMA. Mr Geoghegan has agreed to carry out his role on a pro bono basis. I am currently considering the names of potential candidates who have the appropriate experience and background to work effectively on the group of advisors with Mr Geoghegan. I expect to announce...

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

Michael Noonan: The names of the 16 firms on the Loan Sale Advisory Services Panels are set out as follows: Panel 1 – Europe Brookland PartnersCantor FitzgeraldCB Richard EllisCushman & WakefieldThe Debt ExchangeEastdil SecuredErnst & YoungGoldman SachsJones Lang LaSalleKPMGLazardSavillsUBS Panel 2 – USA CB Richard EllisCredit SuisseThe Debt ExchangeEastdil SecuredErnst & YoungHolliday Fenoglio...

Written Answers — Ministerial Transport: Ministerial Transport (21 Feb 2012)

Michael Noonan: Since 1 May 2011 Cabinet Ministers with the exception of An Taoiseach, An Tánaiste and the Minister for Justice & Law Reform now use their own cars on official business. All Ministers are now paid for official mileage up to 96,540 kilometres [or 60,000 miles] per annum. Ministers of State have used their own cars on official business since 1984. The travel rates payable depend on the car...

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

Michael Noonan: The Local Government (Charges) Act 2009, as amended, provides the legislative basis for the charge on non-principal private residences. Policy relating to this charge is a matter for the Minister for the Environment, Community and Local Government. A person in receipt of rental income is assessed to income tax on the net amount of the rents received, i.e. the gross rents less allowable...