Results 4,841-4,860 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (22 Feb 2012)

Michael Noonan: I propose to take Questions Nos. 79, 80 and 81 together. I am advised by the Revenue Commissioners that VAT is chargeable on the supply of goods and services within the State by a taxable person. The charge to VAT arises regardless of whether the person who is supplied with the goods or services is VAT-registered, exempt from VAT or a private individual. The charging of VAT on supplies of...

Written Answers — Fiscal Policy: Fiscal Policy (22 Feb 2012)

Michael Noonan: This is a matter for each Member State concerned but I have no reason to doubt that all those Member States that sign up to the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union will commit themselves to the principles contained in it. Of course, if a Member State does not comply with its requirements it can be held to account and may, for example, be brought...

Written Answers — Fiscal Policy: Fiscal Policy (22 Feb 2012)

Michael Noonan: The last number of years have been very difficult for the Irish people. The economy contracted in real terms by 10 per cent between 2007 and 2010 and this has been accompanied by severe fiscal and banking crises. Reflecting the substantial improvements in competitiveness which have taken place in recent years the economy returned to growth during 2011. We are also seeing a resumption of...

Written Answers — National Asset Management Agency: National Asset Management Agency (22 Feb 2012)

Michael Noonan: I am informed by NAMA that as part of the process of acquiring land, development and associated loans from the participating institutions it carried out a rigorous due diligence exercise. This included a legal review of title to the property; an evaluation of the value of the property underpinning the loan and other features of the loan agreement such as the level of income that the loan...

Written Answers — National Asset Management Agency: National Asset Management Agency (22 Feb 2012)

Michael Noonan: In its Business Plan published in July 2010, the Board of NAMA set out its debt repayment schedule. This is set out in the following table: Debt Reduction Targets Year % of NAMA debt paid down 2013 25% 2015 40% 2017 80% 2018 95% 2019 100% NAMA ran a number of scenarios which projected the Net Present Value outcome of its activities over its expected lifespan. The baseline Scenario A...

Written Answers — Financial Services Regulation: Financial Services Regulation (22 Feb 2012)

Michael Noonan: The Central Bank has in place a Consumer Protection Code (the Code). This Code applies to all financial institutions regulated by the Central Bank (regulated entities). If a regulated entity is selling a financial product, including a mortgage, to a person who is a "personal consumer" for the purposes of the Code, then the regulated entity may only sell a mortgage product that is suitable...

Written Answers — National Asset Management Agency: National Asset Management Agency (22 Feb 2012)

Michael Noonan: I am informed by NAMA that either directly or through the participating institution operating on its behalf, it has assessed over 600 of the 790 debtor plans that it expects to receive. These cover 95 per cent of the total acquisition value of NAMA debt. In a majority of cases, NAMA expect that its ongoing discussions with debtors will lead to agreements with debtors on asset disposals and...

Written Answers — Financial Services Regulation: Financial Services Regulation (22 Feb 2012)

Michael Noonan: The Office of the Director of Corporate Enforcement is under the aegis of the Minister for Jobs, Enterprise and Innovation and as Minister for Finance I have no role in ensuring compliance by regulated financial service providers with the requirement of that Office The Central Bank's primary regulatory role concerns regulated financial service providers. The Central Bank has informed me...

Written Answers — Fiscal Policy: Fiscal Policy (22 Feb 2012)

Michael Noonan: At present, this country is in receipt of a significant level of financial support from our fellow EU Member States – who are either providing us with bilateral loans directly or are facilitating our financing at favourable interest rates – as well as from the IMF. The ECB is also providing significant liquidity support to the Irish banking system. There is widespread recognition amongst...

Written Answers — Tax Reliefs: Tax Reliefs (22 Feb 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the table included with this reply represents the number of repayments made to PAYE taxpayers for 2007 to 2011. These repayments represent those cases for which a review of taxpayers' details resulted in a PAYE refund following claims from the taxpayer for credits or reliefs to which they are entitled. I am further informed that the total...

Written Answers — Fiscal Policy: Fiscal Policy (22 Feb 2012)

Michael Noonan: The Fiscal Compact requires that fiscal rules – covering targets for the structural balance, automatic correction mechanisms, etc – take effect in national law. This is an important provision as it encompasses greater ownership in ensuring the appropriate conduct of fiscal policies at national level. This is how compliance will be ensured. In terms of the deficit target, the structural...

Written Answers — Currency Circulation: Currency Circulation (22 Feb 2012)

Michael Noonan: The information requested by the Deputy is set out in the tables that follow this reply. The Deputy will note that there has been no decrease in the net issuance of currency over the period shown. The tables show Irish banknote and coin circulation for end-1990, 1995 and 2000 and euro banknote and coin net issuance for 2003 to 2011. As the euro circulates freely throughout the euro system,...

Written Answers — Departmental Staff: Departmental Staff (22 Feb 2012)

Michael Noonan: The recruitment process is ongoing. I intend to make an announcement when the Government decides on the matter.

Written Answers — National Asset Management Agency: National Asset Management Agency (22 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 within the next week and, accordingly, I will issue a reply to the Deputy at that stage.

Written Answers — Financial Services Regulation: Financial Services Regulation (22 Feb 2012)

Michael Noonan: Section 68(1) of the Central Bank and Credit Institutions (Resolution) Act 2011 provides that a special manager may perform his functions with the assistance of persons appointed by him or her for that purpose. The Schedule to the Special Management Order in relation to Newbridge Credit Union Ltd. gives an indication of the positions which may be held by the team of Special Manager...

Written Answers — National Asset Management Agency: National Asset Management Agency (22 Feb 2012)

Michael Noonan: The information which the Deputy is seeking is available in the NAMA Annual Accounts for 2010 and the NAMA Quarterly Reports for the first three quarters of 2011. These reports, all of which I have laid before the Houses of the Oireachtas, can be found on the NAMA website at www.nama.ie. It is expected that the NAMA 2011 Annual Accounts will be publicly available by mid-year.

Written Answers — Stadium Projects: Stadium Projects (23 Feb 2012)

Michael Noonan: I propose to take Questions Nos. 69, 75 and 81 to 84, inclusive, together. The questions raised by the Deputy in relation to the Campus Stadium Ireland Development, the National Aquatic Centre and Dublin Waterworld Ltd are a matter for the Minister for Transport Tourism and Sport. With regard to the application of VAT, the Minister for Finance and the Government decide tax policy and the...

Written Answers — National Asset Management Agency: National Asset Management Agency (23 Feb 2012)

Michael Noonan: NAMA has a commercial remit and a statutory objective to generate a return for the taxpayer. However, within the context of its commercial remit and consistent with section 2 of the National Asset Management Agency Act 2009, NAMA is at all times open to considering proposals aimed at contributing to broader social and economic objectives. Thus NAMA is open to facilitating the work of public...

Written Answers — National Asset Management Agency: National Asset Management Agency (23 Feb 2012)

Michael Noonan: I propose to take Questions Nos. 71 and 72 together. Properties under the control of receivers or other insolvency professionals appointed by NAMA are listed on its website at http://www.nama.ie/PropertiesEnforced.php. The site includes properties located in Meath, including Ashbourne, Drogheda, Dunshaughlin, Enfield, Navan, Rathmoylan, Duleek, Kilcock and Trim. In each instance,...

Written Answers — Freedom of Information: Freedom of Information (23 Feb 2012)

Michael Noonan: My Department received 258 Freedom of Information (FOI) in 2011 and there were 17 cases where a search and retrieval fee was paid. The highest fee paid in 2012 was €83.80. Unfortunately, we do not currently hold the other information sought by the Deputy in a format which can readily answer the queries, but we are currently in the process of capturing this information so that it can be...