Results 6,981-7,000 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Accounts (9 Oct 2012)

Michael Noonan: I am advised by the National Asset Management Agency (NAMA) that it does not publish estimates of financial outturn prior to the closure of accounts and the production of the statement of accounts. In this regard, NAMA advises that the year-end provisioning exercise can only be completed by reference to the loan balance at 31st December 2012 and circumstances that will pertain at that...

Written Answers — Department of Finance: NAMA Staff Remuneration (9 Oct 2012)

Michael Noonan: I am advised by the National Asset Management Agency (NAMA) that it does not currently operate what the Deputy describes as a "long-term incentive plan" as part of its remuneration package offered to employees.

Written Answers — Department of Finance: VAT Rebates (9 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 149 to 151, inclusive, together. The Directive stipulates that the Member State of refund shall notify the applicant of its decision to approve or refuse the refund application within four months of its receipt by that Member State. It also provides for an extension of the timeframe for a decision for a period of up to eight months depending on whether...

Written Answers — Department of Finance: VAT Rates Increases (9 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the amount of VAT collected at the higher rate for the years 2007 to 2011 is set out in the following table. VAT collected at the standard rate of 23% Year Yield at higher Rate €m 2007 8,104 2008 8,113 2009 6,948 2010 6,364 2011 6,047 Precise figures for the breakdown of VAT receipts by tax rate are not available...

Written Answers — Department of Finance: Property Taxation Application (9 Oct 2012)

Michael Noonan: The Government decided in July that the Revenue Commissioners should administer the forthcoming property tax. I am advised by the Revenue Commissioners that they are actively planning for the implementation of the tax. This includes preparing a specification for the operation of the tax, assessing the impact on Revenue systems of its implementation, assessing the IT and other infrastructure...

Written Answers — Department of Finance: NAMA Receivers (9 Oct 2012)

Michael Noonan: As the Deputy is aware NAMA's expectation is that over its projected ten-year life, it will redeem, at minimum, the Senior Bonds issued as consideration for acquired loans in addition to recovery of its carry costs and the working and development capital expenditure it has advanced to debtors. I have no reason to doubt the Agency's view that it will achieve its targets over its lifetime.

Written Answers — Department of Finance: Programme for Government Implementation (9 Oct 2012)

Michael Noonan: The Programme for Government contains 54 commitments within the remit of the Department of Finance and significant progress has been made in implementing these commitments: 27 commitments have been implemented, 21 are on-going or underway, one is now a matter for the independent Fiscal Council, while 5 are under review or cannot be introduced in the manner in which they are stated in the...

Written Answers — Department of Finance: Tax Code (9 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the full year cost to the Exchequer, estimated by reference to 2013 incomes, of increasing the standard rate band for single income married couples and one parent families to the threshold of €65,600 which currently operates for dual income married couples, would be approximately €695 million. However, given the current band...

Written Answers — Department of Finance: Budget 2013 (9 Oct 2012)

Michael Noonan: I assume the Deputy is referring to Budget 2013 and on that basis I can advise him that I have received no such requests to date.

Written Answers — Department of Finance: Banking Operations (9 Oct 2012)

Michael Noonan: AIB has informed me that it is working with An Post on expanding its existing relationship to offer enhanced services, specifically cheque lodgements for personal and business customers, in c. 100 Post Offices in branch closure locations. The enhanced service does not include access to night safe facilities in Post Offices. Night safe facilities will continue to remain available in AIB's...

Written Answers — Department of Finance: Banking Operations (9 Oct 2012)

Michael Noonan: I assume that the Deputy is referring to the closure of the local AIB branch in Collooney. While I regret the closure of any bank branches, the Deputy will no doubt appreciate that the provision of services by banks, including the location of branches, is a commercial decision for the banks. Notwithstanding the fact that the State is a significant shareholder in some banks, it is imperative...

Written Answers — Department of Finance: NAMA Receivers (9 Oct 2012)

Michael Noonan: I am advised that staff of the National Asset Management Agency (NAMA) are employees of the National Treasury Management Agency (NTMA) who are assigned as officers of NAMA under the NAMA Act. In keeping with their obligations to their staff, including obligations under the Data Protection Acts, NTMA has been legally advised not to comment publicly on disciplinary matters.

Written Answers — Department of Finance: Tax Reliefs Cost (9 Oct 2012)

Michael Noonan: I am advised by The Revenue Commissioners that there are no outstanding claims from the person concerned requesting a refund under Med 1. The last claim was for 2011, which was submitted on the 24th January 2012. This claim was processed on 14th February 2012. The refund in the form of a cheque issued the following day, which was subsequently cashed.

Written Answers — Department of Finance: Financial Services Regulation (9 Oct 2012)

Michael Noonan: As I mentioned in reply to Parliamentary Question No 118 of 2 October 2012, I have been advised by the Central Bank that the company referred to by the Deputy is not currently regulated by the Bank. The Bank is currently engaging with debt management firms to assess if their business models fall within the scope of the European Communities (Payment Services) Regulations 2009 regarding the...

Written Answers — Department of Finance: Mortgage Repayments Issues (9 Oct 2012)

Michael Noonan: As the Deputy will be aware, that the Government is very conscious of the difficulties some homeowners are facing in meeting their mortgage commitments. The Central Bank, both from a consumer protection and prudential regulation perspective, has a very significant role to play in addressing the problem of mortgage arrears. With regard to consumers in arrears or in danger of going into...

Written Answers — Department of Finance: Insurance Coverage (9 Oct 2012)

Michael Noonan: An interdepartmental working group has been established in relation to the matter of compensation for businesses affected by the recent flooding in Cork. This working group, which has representation from the Department of Finance, the Department of the Environment, Community and Local Government and the Department of Public Expenditure and Reform, is exploring the practicalities surrounding...

Written Answers — Department of Finance: Mortgage Interest Relief Application (9 Oct 2012)

Michael Noonan: The Revenue Commissioners administer mortgage interest relief through the Tax Relief at Source [TRS] system. The 30% rate of mortgage interest relief, applicable to people who took out their first qualifying home loan between 2004 and 2008, came into effect with the enactment of the Finance Act 2012. The regulations provide for the granting of the relief due to the borrower by the lender...

Written Answers — Department of Finance: Banking Sector Staff Issues (9 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 167, 168 and 172 together. As the Deputy will be aware this Government has not appointed any public interest directors to the boards of the Covered Banks since taking office. The dates that the existing public interest directors were appointed are shown in the table below. The legal position is that any director appointed to the board of the covered...

Written Answers — Department of Finance: Bank Charges (9 Oct 2012)

Michael Noonan: As the Deputy will be aware, the Bank of Ireland’s policies in relation to lending rates is a matter for the board and management of the institution. Notwithstanding the fact that the State is a significant shareholder, I must ensure that the bank is run on a commercial, cost effective and independent basis to ensure the value of the bank as an asset to the State, as set out in the...

Written Answers — Department of Finance: Vehicle Registration Issues (9 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the specification for the identification mark (the “registration plate”) that must be displayed on vehicles is contained in the Vehicle Registration and Taxation (Amendment) Regulations, 1999 (Statutory Instrument No. 432 of 1999). These Regulations do not permit the application of special arrangements in relation to the...