Results 6,161-6,180 of 27,019 for speaker:Michael Noonan

Written Answers — Motor Vehicle Registration: Motor Vehicle Registration (26 Jun 2012)

Michael Noonan: I am advised by the Revenue Commissioners that quad bikes manufactured for use on the road may be registered for vehicle registration tax purposes in the State provided that the application for registration is accompanied by an appropriate certificate of conformity issued by the manufacturer under Type Approval Directive 2002/24/EC (as amended). In the case of quad bikes previously...

Written Answers — Departmental Staff: Departmental Staff (26 Jun 2012)

Michael Noonan: The retirement lump sum is 3/80ths of pensionable remuneration for each year of reckonable service, subject to a maximum of 1.5 times pensionable remuneration. Lump sum superannuation benefits (i.e. retirement lump sums and all gratuities) are calculated by reference to pensionable remuneration and reckonable service. Pensionable remuneration is the aggregate of pensionable salary and...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (26 Jun 2012)

Michael Noonan: The Deputy will be aware that the proposal for a banking union, first mooted by Commission President Barroso on 23 May, has developed over the last number of weeks in the context of the ongoing eurozone crisis, culminating in the paper on Economic and Monetary Union to be considered at this week's European Council meeting. One of the main proposals in the paper on Economic and Monetary Union...

Written Answers — Strategic Investment Fund: Strategic Investment Fund (26 Jun 2012)

Michael Noonan: The purpose of the Strategic Investment Fund (SIF) is to channel commercial investment from the National Pensions Reserve Fund (NPRF) towards productive investment in the Irish economy. As well as money from the NPRF, the SIF will seek matching commercial investment from private investors and target investment in areas of strategic significance to the future of the Irish economy. I am...

Written Answers — Credit Availability: Credit Availability (27 Jun 2012)

Michael Noonan: The Central Bank publishes quarterly figures on credit advanced by Irish resident credit institutions to Irish resident SMEs. The figures are available to download at http://www.centralbank.ie/polstats/stats/cmab/Pages/Business Credit.aspx and the latest table is also attached. In relation to the total outstanding stock of loans to SMEs, there are three figures for consideration, as shown...

Written Answers — Credit Availability: Credit Availability (27 Jun 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 €30 billion in the period 2011-2014. SME and new mortgage lending for these banks is expected to be in the range of €16-20bn over this period. This lending capacity is incorporated into the banks' deleveraging plans which allow...

Written Answers — Additional Voluntary Contributions: Additional Voluntary Contributions (27 Jun 2012)

Michael Noonan: Additional Voluntary Contributions (AVCs) may be made by employees in addition to any regular or compulsory contributions which they may make to their pension scheme. AVCs are eligible for tax relief at the employee's marginal rate of income tax in the same way as regular contributions subject to the application of the annual earnings and age-related percentage relief limits which determine...

Written Answers — Tax Credits: Tax Credits (27 Jun 2012)

Michael Noonan: I am advised by the Revenue Commissioners that they have received correspondence dated 11 June 2012 in respect of the named person (details supplied) in County Westmeath. In relation to the claim for incapacitated child tax credit, further medical information is required in order to determine if this credit is due. A letter has issued to the parents concerned requesting this information.

Written Answers — Tax Reliefs: Tax Reliefs (27 Jun 2012)

Michael Noonan: My reply is based on the understanding that your query relates to the tax reliefs available to an individual who owns a dwelling and has rented it out and is also in the process of building a new dwelling that is to be used as his or her principal private residence. I am informed by the Revenue Commissioners that a person in receipt of rental income is assessed to income tax on the profit...

Written Answers — Ministerial Transport: Ministerial Transport (27 Jun 2012)

Michael Noonan: In response to the Deputy's question the amounts spent on ministerial transport by my Department in the period in question are as follows: 2009 Approximately €6,942 was spent by my Department on ministerial transport in 2009. €6,337 was spent in relation to the provision of transport for my predecessor Minister Lenihan while attending various meetings held in Brussels, Paris, London,...

Written Answers — Tax Credits: Tax Credits (28 Jun 2012)

Michael Noonan: The position is that a person can make a claim for Incapacitated Child Tax Credit in accordance with Section 465 of the Taxes Consolidation Act, 1997. The Revenue Commissioners have published an information leaflet, IT18 that outlines the criteria for entitlement to the credit. This information leaflet is available on www.revenue.ie I am advised by the Revenue Commissioners that an...

Written Answers — VAT Rates: VAT Rates (28 Jun 2012)

Michael Noonan: VAT is governed by the EU VAT Directive, with which Irish VAT law must comply. The VAT Directive provides that the supply of goods and services by taxable persons is subject to VAT at rates specified in the VAT Directive. Member States must apply a standard VAT rate of between 15% and 25% to the majority of economic activity. In Ireland the standard rate is 23%, and under the VAT Directive...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Jun 2012)

Michael Noonan: I propose to take Questions Nos. 64 and 67 together. I am very conscious of the difficulties that Ulster Bank customers find themselves in. The Central bank has advised me that they have been in contact with Ulster Bank at the highest level to press the bank to resolve the situation as quickly as possible and ensure that customers are treated fairly. The Central Bank's concern is to ensure...

Written Answers — Departmental Contracts: Departmental Contracts (28 Jun 2012)

Michael Noonan: I have no function in relation to decisions taken by the Health Service Executive.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Jun 2012)

Michael Noonan: SI 395 of 1992 requires every credit institution to have robust governance arrangements taking into account the technical criteria set out in Annex V to the Capital Requirements Directive (Directive 2006/48/EC). Under Annex V, credit institutions are required to adopt policies and processes to evaluate and manage exposures to operational risk, including low-frequency high-severity events....

Written Answers — European Council Meetings: European Council Meetings (28 Jun 2012)

Michael Noonan: At last week's ECOFIN meeting it became clear that EU-wide unanimity on the Commission's Financial Transactions Tax (FTT) proposal would not be achieved and a number of member states will now seek EU agreement to introduce an FTT on an "enhanced co-operation" basis. Ireland opposes enhanced co-operation in tax matters and will not be one of the enhanced co-operation countries. However, I...

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Jun 2012)

Michael Noonan: I am advised by NAMA that for a debtor to avail of bankruptcy in any given jurisdiction he/she must first of all establish that jurisdiction as his/her centre of main interest (COMI). The establishment of COMI is a matter for the relevant authorities in the jurisdiction in which bankruptcy is sought. NAMA further advises that in its position as a secured creditor it is generally neutral on...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (28 Jun 2012)

Michael Noonan: As the Deputy is aware four senior, unsecured and unguaranteed bonds with a total value of €1.1bn fall due for redemption by IBRC this week. This senior debt, unsecured as it is, is an obligation of the bank and the bank will redeem the bonds as they fall due. Following the redemption of the four bonds this week IBRC will have approximately €160m in unsecured, unguaranteed bonds which are...

Written Answers — Personal Public Service Numbers: Personal Public Service Numbers (28 Jun 2012)

Michael Noonan: I have been informed by the Revenue Commissioners that they were aware two PPS numbers were in use but they had been linked in their records. However, the numbers have now been consolidated under the Department of Agriculture number and the Department of Social Protection has been informed of this.

Written Answers — Mortgage Protection Policies: Mortgage Protection Policies (28 Jun 2012)

Michael Noonan: I have been informed by the Financial Services Ombudsman that, since 1 January 2007, his Office has received the following number of complaints in relation to mortgage protection insurance policies: Year Total number of complaints received 2007 91 2008 80 2009 129 2010 182 2011 200 2012 (to date) 88 As the Deputy will be aware, the Ombudsman is independent in...