Results 7,001-7,020 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: The most recent year for which detailed information is available on the number of taxpayers availing of income tax relief in respect of employing a person to take care of an incapacitated individual is for income tax year 2010. In that year an estimated 1,620 taxpayers benefited from the relief at an estimated cost to the Exchequer of €6.9 million. The numbers availing represent...

Written Answers — Department of Finance: Banks Recapitalisation (9 Oct 2012)

Michael Noonan: As the Deputy will be aware, the Irish banks were required to raise €24.0bn in capital following the 2011 Prudential Capital Assessment Review (PCAR) in order 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...

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

Michael Noonan: The Deputy will be aware that the Bank’s policy in relation to interest rates is a matter for the management and board of the institution. I have no role in the day-to-day commercial and operational decisions of the banks, which include these matters. These decisions are taken by the board and management of the institution. Notwithstanding the fact that the State is a significant...

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

Michael Noonan: AIB has informed me that the Bank has not availed of ELA facilities since H1 2011. Therefore no drawings of ELA funding were required in respect of the €1bn senior unsecured bond repayment of 2 October 2012. The bond repayment was effected from the bank's holding of liquid assets.

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

Michael Noonan: I propose to take Questions Nos. 176 and 186 together. I am advised by the Revenue Commissioners that individuals who are not resident in Ireland for tax purposes, are liable to income tax in respect of income earned in Ireland (e.g. income from rental properties; income from a trade, profession or employment; fees from directorships), capital gains tax (CGT) in respect of gains from the...

Written Answers — Department of Finance: State Banking Sector Regulation (9 Oct 2012)

Michael Noonan: The AIB and Irish Life & Permanent Relationship Frameworks referenced were published on the Department of Finance website on 30 March 2012 and as previously advised to the Deputy are available at the following links: http://banking.finance.gov.ie/wp-content/uploads/Allied-Iris h-Banks1.pdf and http://banking.finance.gov.ie/wp-content/uploads/Irish-Life- and-Permanent1.pdf. The matters...

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

Michael Noonan: The Government is of the view that it would not be in Irish interests to have AIB fail to meet a senior debt repayment obligation, be it to private investors or the Eurosystem. Furthermore and as the Deputy will be aware, any bank accessing standard or non-standard liquidity assistance from the European Central Bank is required to pledge collateral in return for funding. In any event AIB has...

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

Michael Noonan: The Deputy will be aware that the Bank’s policy in relation to interest rates is a matter for the management and board of the institution. I have no role in the day-to-day commercial and operational decisions of the banks, which include these matters. These decisions are taken by the board and management of the institution. Notwithstanding the fact that the State is a significant...

Written Answers — Department of Finance: State Banking Sector Regulation (9 Oct 2012)

Michael Noonan: A fundamental element of Government policy as set out in the Programme for Government has been to stabilize and restore an effective and functioning banking system. This involved the radical restructuring of the domestic banking system which was announced last year and recalibrated the banking system by introducing the two pillar banks structure thereby creating a banking sector more...

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

Michael Noonan: At my request, the Economic and Social Research Institute (ESRI) and the Central Bank prepared an assessment of the Financial Transactions Tax (FTT) as proposed by the Commission. This report was circulated to Oireachtas Members and published by me in July. Given the wide variation in the estimated revenue yield from an FTT when different factors are taken into account and the uncertainty...

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

Michael Noonan: Neither my Department nor the Central Bank compile detailed information in relation to direct or indirect employment in the trading of bonds, derivatives and shares. The Central Bank regularly publishes statistics on the volumes of trading in this sector, on its website, which may be of interest to the Deputy. The most recent data runs to end-July and was published in mid-September. See...

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

Michael Noonan: I am informed by the Revenue Commissioners that, as they do not have a statistical basis for compiling estimates of yield in relation to proposals for the taxation of residential property, it is not possible to provide the information requested by the deputy. While there are data sources which provide information on property ownership – for example, the Property Registration Authority...

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

Michael Noonan: I am advised by the Revenue Commissioners that Stamp Duty is a charge on documents, which are mostly legal documents, used in the transfer of property. The current rates of stamp duty on the transfer of property are: *For non-residential property, 2% of the purchase price *For residential property, 1% on the amount of the purchase price up to €1m and 2% on the excess over...

Written Answers — Department of Finance: European Stability Mechanism (9 Oct 2012)

Michael Noonan: The European Stability Mechanism (ESM) was established by the Treaty establishing the European Stability Mechanism (ESM Treaty) was signed by Euro Area Finance Ministers on 2 February 2012. It provides for the establishment by the Euro Area member states of the ESM as an intergovernmental organisation under public international law. Legislation is required for Ireland to ratify the ESM...

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

Michael Noonan: I am advised by the National Asset Management Agency (NAMA) that information relating to its debtors and/or their properties is, within the meaning of Sections 99 and 202 of the National Asset Management Agency Act 2009, confidential and that it is therefore precluded from providing the information sought by the Deputy. In the case of property under the control of debtors, NAMA is precluded,...

Written Answers — Department of Finance: Fiscal Policy (9 Oct 2012)

Michael Noonan: Firstly, I want to assure the Deputy that all of the economic policies of the Government are designed with one main objective: that is to restore balanced economic growth so that employment can increase once again. A precondition for a resumption of balanced economic growth is sustainable public finances. As such, the Government is committed to cutting the deficit and maintaining debt at...

Written Answers — Department of Finance: Tax Rebates (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 12th January 2012. This claim was processed on 15th February 2012. The refund in the form of a cheque issued the following day, which was subsequently cashed.

Written Answers — Department of Finance: Customs and Excise Controls (10 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that their Customs Service currently deploys 13 detector dog teams at strategic locations throughout the country. Each team comprises a detector dog and handler. The dogs are used in the detection of drugs, tobacco and cash. Passive dogs are used as this allows for the screening of passengers as well as merchandise and baggage. The detector dog...

Written Answers — Department of Finance: Tax Forms (10 Oct 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that a Form P60, rather than form P45, has issued to the person concerned for 2011 in respect of the relevant employment. The Revenue Commissioners have contacted the person concerned, who has confirmed that he has the P60, and explained to him that the P60 is sufficient for Social Protection and Revenue purposes.

Written Answers — Department of Finance: Liquor Licensing Laws (10 Oct 2012)

Michael Noonan: The Deputy will be aware the rate of excise duty on off-licences was reviewed in the context of the 2008 and 2009 Budgets. The annual excise duty payable on each off-licence was increased from €250 to €500. An off-licence for a shop selling only wine costs €500. An off-licence selling the full range of alcohol products require three licences - spirits, beer and wine....