Results 7,241-7,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Bank Charges (23 Oct 2012)

Michael Noonan: I, as Minister for Finance, have no statutory role in relation the issues raised by the Deputy. It is a commercial matter for the bank concerned. As I mentioned in reply to Parliamentary Question No 156 of 16 October 2012, I have been advised by the Central Bank that, under the Consumer Protection Code, a regulated entity must act honestly, fairly and professionally in the best interests...

Written Answers — Department of Finance: Public Service Contracts (23 Oct 2012)

Michael Noonan: In the case of all public sector contracts of a value of €10,000 (inclusive of VAT) or more within any 12-month period, the contractor (and agent as appropriate) will be required either to produce a current tax clearance certificate, or, demonstrate a satisfactory level of subcontractor tax compliance (where Relevant Contracts Tax applies). This requirement applies to both resident and...

Written Answers — Department of Finance: Bank Contracts (23 Oct 2012)

Michael Noonan: I can inform the Deputy that the company referred to in the question has contracts in place to provide services to AIB and IBRC. AIB has informed me that due to the substantial increase in the number of customers in financial difficulty, AIB works with the company referred to in the question who predominantly provide customer case management and assessment services to AIB’s Mortgage...

Written Answers — Department of Finance: Fitness and Probity Regime (23 Oct 2012)

Michael Noonan: I have been informed by the Central Bank of Ireland that the company referred to in the Deputy’s question is not a regulated financial services provider and therefore neither the company nor its employees are subject to the Central Bank of Ireland’s Fitness and Probity regime. The standards do not apply to persons performing functions with respect to a regulated financial...

Written Answers — Department of Finance: Bank Contracts (23 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 135 and 136 together. I have been advised that the Bank adheres to a structured procurement process for the appointment of all of its advisors. This procurement process is open, objective and transparent and is subject to the Bank’s governance processes including oversight through a regular reporting process by the Board of the Bank. The appointment...

Written Answers — Department of Finance: Bank Contracts (23 Oct 2012)

Michael Noonan: I have been advised that the ‘strategic advisory arm’ of Blackstone was retained by the Bank in December 2011 to advise on a range of strategic matters including, but not limited to, the structure of the Bank’s balance sheet. Blackstone’s remit included a focus on the Bank’s aggregate, but not specific, portfolio of loans. As already advised, the...

Written Answers — Department of Finance: Banking Sector Staff (23 Oct 2012)

Michael Noonan: The secondment arrangement for the person referred to in the question is appropriate at this time as IBRC continues to explore opportunities for deleveraging with a view to maximising the recovery for the taxpayer. The addition of this person to the bank’s senior management team, as Head of Market Solutions, brings a wealth of expertise and knowledge to IBRC and will further strengthen...

Written Answers — Department of Finance: National Asset Management Agency (23 Oct 2012)

Michael Noonan: I am advised by NAMA that its sales processes require that its loan sales, and asset sales conducted by its debtors and receivers, be carried out on a competitive basis with the aim of ensuring that the best price available in the market is achieved at the time of transaction. I am advised also that any contracts for service are put to competitive tender with a view to obtaining the most...

Written Answers — Department of Finance: Corporation Tax (23 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the number of employers, both company and self employed, with one employee or less is 94,981 for 2011, the latest year for which the information is available. As corporation tax returns do not require the number of employees to be provided, the information requested by the Deputy as regards company employers cannot be separately identified.

Written Answers — Department of Finance: Appointments to State Boards (23 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 141 and 142 together. The details requested by the Deputy are contained in the following tables. Disabled Drivers Medical Board of Appeal Name of appointee/ Date of appointment or reappointment Details Remuneration received as Board member or Chairperson Dr Angela McNamara 07 Nov 2011 Dr McNamara was reappointed to the Board Dr McNamara is entitled to a...

Written Answers — Department of Finance: Mortgage Arrears (23 Oct 2012)

Michael Noonan: The Deputy will be aware that last October the Government published the Report of the Inter-Departmental Working Group on Mortgage Arrears (“Keane Report”). The ‘Keane Report’ recommended, as one of a range of measures that could be deployed to assist distressed mortgage holders, the introduction of a mortgage to rent scheme for appropriate cases. The Minister...

Written Answers — Department of Finance: Budget Submissions (23 Oct 2012)

Michael Noonan: The facility to cost Budget proposals and policies is one made available by my Department, on request, to all opposition parties. In advance of Budget 2012 one such request was received, from Fianna Fáil.

Written Answers — Department of Finance: Tax Code (23 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that for the tax year 2010, the latest year for which figures are available, the number of persons who have filed tax returns indicating that they are non-resident for tax purposes is 10,781 and that the amount of income tax due per those returns was approximately €49 million. It is important to note that the circumstances of individuals who...

Written Answers — Department of Finance: Strategic Investment Bank (23 Oct 2012)

Michael Noonan: The establishment of the Strategic Investment Fund (SIF) was announced by the Government in September 2011. Resources from the National Pensions Reserve Fund (NPRF) will be channeled through the SIF towards productive investment on commercial terms in the Irish economy. The SIF will seek matching commercial investment from the private sector in order to maximise the resources of the NPRF. ...

Written Answers — Department of Finance: Mortgage Arrears (23 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: Wealth Audit (23 Oct 2012)

Michael Noonan: I have been informed by the Central Bank that the Central Statistics Office, on behalf of the Central Bank, has commenced preliminary work on a Household Finance and Consumption Survey, which will survey a small sample of Irish households (likely to be in the order of 4,000 households). The survey will collect information on household composition, employment, incomes, assets, debts and other...

Written Answers — Department of Finance: Mortgage Interest Rates (23 Oct 2012)

Michael Noonan: The Central Bank has responsibility for the regulation and supervision of financial institutions in terms of consumer protection and prudential requirements and for ensuring ongoing compliance with applicable statutory obligations. However, the Central Bank hasno statutory role in the setting of interest rates by regulated entities apart from the interest rate cap imposed on the credit union...

Written Answers — Department of Finance: Tax Yield (23 Oct 2012)

Michael Noonan: The Domicile Levy is payable on or before 31 October in each year following the preceding validation date of 31 December on a self-assessment basis. The yield from the levy in 2011 was €1.667 million in respect of the amount due for valuation date 31 December 2010. Individuals who are liable to pay the Domicile Levy can use any Income Tax paid in the relevant tax year as a credit...

Written Answers — Department of Finance: Bank Charges (23 Oct 2012)

Michael Noonan: The Central Bank has responsibility for the regulation and supervision of financial institutions in terms of consumer protection and prudential requirements and for ensuring ongoing compliance with applicable statutory obligations. However, the Central Bank hasno statutory role in the setting of interest rates charged by regulated entities apart from the interest rate cap imposed on the...

Written Answers — Department of Finance: Tax Code (23 Oct 2012)

Michael Noonan: The position is as stated in the Programme for Government that as part of the Government’s fiscal strategy we will maintain the current rates of income tax together with bands and credits. In addition, we will not increase the top marginal rates of taxes on income. There are no plans at this time to depart from this policy. I should point out that the top marginal rate of taxation on...