Results 6,941-6,960 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Budget Consultation Process (4 Oct 2012)

Michael Noonan: I am aware of the report referred to by the Deputy. The Government is eager to hear reasonable proposals for budget measures from all interested parties and organisations. We will consider them fully and give them due consideration. Last year’s Medium-Term Fiscal Statement set out a multi-annual fiscal consolidation strategy agreed by Government for the period to 2015. It showed the...

Written Answers — Department of Finance: Tax Reliefs Availability (4 Oct 2012)

Michael Noonan: I assume that the Deputy is referring to what may be appropriate to deduct in the context of the computation of profits from all sources by those who are required to submit an annual tax return to the Revenue Commissioners under the Pay and File system. I am advised by the Revenue Commissioners that there is no standard list of what is deductible for tax purposes for either companies or...

Written Answers — Department of Finance: Tax Reliefs Cost (4 Oct 2012)

Michael Noonan: As regards tax reliefs currently available, a comprehensive summary of these was provided recently in my reply to PQ 38291/12 and a copy of this reply has been provided to the Deputy. That reply contains details, as advised to me by the Revenue Commissioners, of the total identifiable costs to the Exchequer relating to income tax and corporation tax allowances, reliefs, exemptions and tax...

Written Answers — Department of Finance: Proposed Legislation (4 Oct 2012)

Michael Noonan: It is intended to publish the Finance (Local Property Tax) Bill on Budget Day.

Written Answers — Department of Finance: Tax Yield (4 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information on total corporation tax receipts broken down by sector for the years 2007, 2008, 2009 and 2010 are available from the Revenue Statistical Reports which are accessible on the Revenue website at www.Revenue.ie. The information is located in Table TR6, under the main chapter heading of Total Revenue. That table provides a...

Written Answers — Department of Finance: Tax Code (4 Oct 2012)

Michael Noonan: The Programme for Government indicated that, as part of its fiscal policy, the Government will ensure that “tax exiles” make a fair contribution to the Exchequer. In Budget 2012 I abolished the “citizenship condition” for payment of the Domicile Levy to ensure that individuals could not avoid the levy by renouncing their citizenship. I also stated that I intend...

Written Answers — Department of Finance: European Stability Mechanism (4 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 64 and 65 together. Apart from the various technical meetings with Troika members, Ireland continues to be fully engaged in the process by the Eurogroup and Heads of State or Government on how these commitments will be implemented. Apart from the various technical meetings with Troika members, we are pursuing a diplomatic offensive which has included...

Written Answers — Department of Finance: Budget 2012 (4 Oct 2012)

Michael Noonan: The Government framed Budget 2012 in such a way as to make it as growth-friendly as possible. As I stated on Budget day last December, Budget 2012 balances the need to restore confidence in Ireland's fiscal position with the key objective of supporting economic growth that delivers jobs. Budget 2012 implemented the necessary corrections to keep Ireland on track with our fiscal targets to...

Written Answers — Department of Finance: Tax Code (4 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that, as information on the value of capital gains arising from the disposal of principal private residences is not required in capital gains tax returns, there is no dedicated basis for separately identifying the yield that would arise from applying capital gains tax to sales of principal private residences. Accordingly, the specific information...

Written Answers — Department of Finance: Credit Availability (4 Oct 2012)

Michael Noonan: I presume the Deputy is referring to Volume 2012, No.8 of the Economic Letter Series published by the Central Bank on 22 August last, entitled “Irish SME credit supply and demand: comparisons across surveys and countries.” I welcome all analysis in this key area which is used to inform all stakeholders. However, the Deputy should note that the Economic Letter contains a...

Written Answers — Department of Finance: Postal Services (4 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that throughout the EU, the customs control regime that applies to universal postal service providers, such as An Post, is significantly different from that which applies in respect of ordinary fast parcel operators. Postal operators are exempt from the normal customs requirement to submit manifests, containing details of individual shipments that...

Written Answers — Department of Finance: Departmental Appointments (4 Oct 2012)

Michael Noonan: This Department is redirecting our own primary focus more towards the identification and implementation of measures which will contribute to enhanced confidence, delivering sustainable growth in our economy and thereby repair the damage caused to the lives of citizens, the economy and the banking sector. This involves the reassignment and training of our existing teams so that they can...

Written Answers — Department of Finance: Tax Reliefs Availability (4 Oct 2012)

Michael Noonan: The position is that tax relief is available up to and including the tax year 2017 on interest paid on a qualifying home loan taken out on or after 1 January 2004 and on or before 31 December 2012. Such relief is not confined to first time buyers. In addition, tax relief is not available on the interest paid on a loan taken out on or after 1 January 2013. As regards the deadline, the loan...

Written Answers — Department of Finance: Tax Reliefs Availability (4 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that accelerated capital allowances were available in respect of capital expenditure incurred on the construction or refurbishment of certain health related facilities including private registered nursing homes, residential units associated with registered nursing homes and approved convalescent homes. However, all these schemes have now come to an...

Written Answers — Department of Finance: Insurance Industry Regulation (4 Oct 2012)

Michael Noonan: The day to day responsibility for the supervision and authorisation of financial institutions is a matter for the Central Bank which is statutorily independent in the exercise of its regulatory functions. As such the matter was referred to the Bank for its views. The Bank has indicated that there is no basis for an investigation into this matter as it does not believe there has been any...

Written Answers — Department of Finance: Banks Recapitalisation (4 Oct 2012)

Michael Noonan: As the Deputy will be aware, the Irish banks were required to raise €24 billion in capital following the 2011 Prudential Capital Assessment Review to remain above a minimum capital target of 10.5% Core Tier 1 in the base scenario and 6% Core Tier 1 in the stress Scenario. The Central Bank made its decision on required recapitalisation based on loan-loss projections along with further...

Written Answers — Department of Finance: Bank Guarantee Scheme (4 Oct 2012)

Michael Noonan: I note similarities between the Deputy’s question and the Deputy's Question No. 65 of 26 April last. In this context, I propose to answer the Deputy’s question by giving an update on the position since my reply on 26 April last. The total fees received to date from the covered banks in respect of both the CIFS and ELG schemes amount to €3.362 billion, which does not...

Written Answers — Department of Finance: Banking Sector Staff Issues (4 Oct 2012)

Michael Noonan: As the Deputy is aware, in response to the Nyberg report and with regard to the restructuring of the banking sector, I stated: "A programme of rotation of board members, commencing with board members appointed before September 2008, will be expected to be part of the plan. This should apply to both Executive and Non Executive Board members and provides a process to ensure a smooth succession...

Written Answers — Department of Finance: NAMA Staff Remuneration (4 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 81 and 82 together. I refer the Deputy to my responses to Parliamentary Questions from Deputy Patrick O’Donovan on 18 September last on the same topic which I have set out below. All NAMA staff are employees of the NTMA. Under Section 42 of the NAMA Act 2009, the NTMA assigns staff to NAMA. Other than a small number of staff reassigned from other...

Written Answers — Department of Finance: NAMA Portfolio Value (4 Oct 2012)

Michael Noonan: The Deputy will note that NAMA has acquired loans that are secured, in the vast majority of cases, by property assets, a detailed breakdown of which is available in NAMA's Annual Report and Financial Statements 2011. NAMA advises that, in the case of debtors that it manages directly, the value of art that it currently holds as security for its loans is of the order of €7.5 million....