Results 4,881-4,900 of 27,019 for speaker:Michael Noonan
- Written Answers — Departmental Expenditure: Departmental Expenditure (28 Feb 2012)
Michael Noonan: In the period since March 2011 â¬63.00 has been spent by me in relation to Official entertainment. Senior officials within my Department spent â¬1,193 on official entertainment in 2011.
- Written Answers — National Asset Management Agency: National Asset Management Agency (28 Feb 2012)
Michael Noonan: The NAMA annual statement, which was produced in September, 2011 projected costs for the year in the region of â¬242 million. This was based on a preliminary review carried out in September 2011. A further more detailed review was carried out in December/January based on the costs outturn for 2011. Taking this information into account, it is projected that annual costs in 2012 will be...
- Written Answers — Tax Collection: Tax Collection (28 Feb 2012)
Michael Noonan: I am advised by the Revenue Commissioners that the information requested, estimated by reference to the income tax year 2011, is set out in the following table. All Income Earners for Income Tax Year 2011 (provisional) Range of Gross Income Numbers â¬30,001 - â¬49,999 498,261 â¬50,000 - â¬70,000 231,794 â¬70,001 - â¬100,000 148,428 â¬100,001 - â¬150,000 70,892 â¬150,001...
- Written Answers — Credit Union Regulation: Credit Union Regulation (28 Feb 2012)
Michael Noonan: Section 87 of the Credit Union Act 1997 provides the Central Bank â incorporating the Registrar of Credit Unions â with the power to issue regulatory directions on certain grounds. This includes the power to place lending restrictions on credit unions. I have asked the Commission on Credit Unions to consider if there is a need for an appropriate appeal mechanism for regulatory...
- Written Answers — Tax Yield: Tax Yield (28 Feb 2012)
Michael Noonan: I am informed by the Revenue Commissioners that the net receipt from Stamp Duty on financial cards and cheques in 2011, broken down by type of card, is as set out in the following table: Card Type Net receipt 2011â¬m Credit 51.8 ATM 1.5 Debit 0.03 Combined (ATM/Debit) 15.7 Cheques 33.23 Total 102.26 The figures are provisional and subject to revision.
- Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Feb 2012)
Michael Noonan: The Deputy will be aware that 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 previously been requested by my Department to confirm that there is no conflict in relation to the appointment. The Deputy will...
- Written Answers — National Asset Management Agency: National Asset Management Agency (28 Feb 2012)
Michael Noonan: The report by Mr. Michael Geoghegan made a wide range of recommendations that were designed to assist the NAMA Board, including a proposal that the Agency would take on the direct management of the NAMA loans currently managed on its behalf by the participating institutions. I am informed by the Chairman of NAMA that the Board has given its approval to the establishment of dedicated teams...
- Written Answers — National Asset Management Agency: National Asset Management Agency (28 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 — Motor Fuels: Motor Fuels (28 Feb 2012)
Michael Noonan: A derogation under EU Directive 2003/96 on Energy Taxation allowed the application of a reduced rate of Mineral Oil Tax to fuel used for the purposes of certain road passenger services. That derogation has expired and the arrangement was, therefore, terminated by the Finance Act 2008. It would not be possible, having regard to the relevant provisions of EU law, to re-introduce a scheme of...
- Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Feb 2012)
Michael Noonan: As the Deputy is aware, the banking system restructuring plan creates capacity for the two Pillar Banks, Bank of Ireland and AIB, to provide lending in excess of â¬30 billion in the next three years. SME and new mortgage lending for these banks is expected to be in the range of â¬16-20bn over this period. This lending capacity is incorporated into the banks' deleveraging plans which allow...
- Written Answers — National Asset Management Agency: National Asset Management Agency (28 Feb 2012)
Michael Noonan: A review of NAMA was carried out by Mr. Michael Geoghegan in 2011 at the request of the NAMA Board and with my agreement. In his report he made a number of proposals to the Board of NAMA including the appointment of a Chief Financial Officer (CFO). These proposals were considered by the Board and, on 15th February 2012, NAMA announced a reorganisation of functions, the establishment of new...
- Written Answers — Tax Yield: Tax Yield (28 Feb 2012)
Michael Noonan: I would point out that the estimated additional yield from a 2% increase in the standard rate of VAT for 2012, as announced in my Budget 2012 speech, is â¬560 million. The estimate of â¬670 million relates to receipts from the 2% increase in a full year. These estimates were calculated by applying a direct increase of 2% to the expected yield from the 21% rate of VAT in 2011. They are...
- Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Feb 2012)
Michael Noonan: I propose to take Questions Nos. 166 and 167 together. As the Deputy is aware the Board of the bank is responsible for the day to day operation of the bank, including the recovery, in normal course, of debt owed to the bank. The Board of the bank is charged with responsibility for recovering the maximum value of the bank's loan book or related security having regard to the best interests of...
- Written Answers — National Asset Management Agency: National Asset Management Agency (28 Feb 2012)
Michael Noonan: The most recent estimate of the accounting value of the NAMA loan portfolio is as provided for in the NAMA accounts for the third quarter of 2011. This is available on the NAMA website, www.nama.ie. I am advised by NAMA that due diligence on all of the acquired loans is not yet complete so it is not in a position to provide the final breakdown of the data requested. However, based on a...
- Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Feb 2012)
Michael Noonan: The value of IBRC's remaining loan book, broken down by geographic region, will be reported in the Bank's Annual Report & Accounts which are due for release at the end of March this year. IBRC is working to generate options for the efficient work out of its loan books in accordance with the Bank's approved mandate. This includes examining accelerated disposal where this makes economic...
- Written Answers — Tax Code: Tax Code (28 Feb 2012)
Michael Noonan: I am informed by the Revenue Commissioners that the person concerned and his wife are entitled to the same income tax treatment as an Irish married couple. The person is entitled to the married person's tax credit, which is â¬3,300 for 2012. In addition, on the basis that he is the sole income earner, he is entitled to a standard income tax rate tax band of â¬41,800 for 2012, that is,...
- Written Answers — Tax Code: Tax Code (28 Feb 2012)
Michael Noonan: I am advised by the Revenue Commissioners that provisions covering the Travel Agents Margin Scheme are contained in Section 88 of the VAT Consolidation Act 2010. This scheme, which is provided for in Articles 306 to 310 of the EU VAT Directive, with which Irish VAT law must comply, was introduced with effect from 1 January 2010. Detailed discussions with the travel industry were carried out...
- Written Answers — Motor Vehicle Registration: Motor Vehicle Registration (28 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 — Tax Reliefs: Tax Reliefs (28 Feb 2012)
Michael Noonan: Sections 472A and 88A of the Taxes Consolidation Act 1997 provide tax incentives for both employers and employees, to help the long-term unemployed to return to employment. The relevant information available in relation to employees who availed of the Revenue Job Assist scheme is for the income tax years 2003 to 2009 inclusive, the latest year for which the necessary detailed information is...
- Written Answers — Tax Reliefs: Tax Reliefs (28 Feb 2012)
Michael Noonan: Sections 472A and 88A of the Taxes Consolidation Act 1997 provide for the Revenue Job Assist scheme which provides tax incentives for both employers and employees to help the long-term unemployed return to employment. Both incentives apply in respect of individuals who have been unemployed for at least 12 months and are in receipt of a specified social protection payment or who are in a...