Results 7,681-7,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Fuel Rebate Scheme (15 Nov 2012)

Michael Noonan: As the Deputy is aware a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry including the matter of an essential users rebate. I have received a submission from the group. I have also recently met with represtatives of the IRHA. I am considering...

Written Answers — Department of Finance: Bank Guarantee Scheme (15 Nov 2012)

Michael Noonan: The table sets out the schedule of payments of unsecured and unguaranteed bonds held by the covered institutions. Senior Unsecured Unguaranteed Bonds 2012 €000 2013 €000 2014 €000 2015 €000 2016 €000 2017 €000 2018+ €000 Total €000 IBRC 87,782 20,000 4,000 10,148 2,000 123,930 PTSB 21 212 185 82 24 50 68 642 AIB...

Written Answers — Department of Finance: Departmental Strategies (15 Nov 2012)

Michael Noonan: As the Deputy may be aware, the Secretary General of the Department of Finance, Mr John Moran, attended the Joint Oireachtas Committee on Finance and Public Expenditure and Reform (JOC) on November 7th. During the course of the meeting, Mr Moran committed to writing to the JOC to give further detail on the issues raised by members of the Committee. One of these commitments related to...

Written Answers — Department of Finance: Banking Sector Remuneration (15 Nov 2012)

Michael Noonan: I regret to inform the Deputy that Bank of Ireland are not in a position to supply a detailed answer to the above question at this time. Due to the volume of information required to be sourced, collated and verified it was not possible to provide a response in the timeframe. Bank of Ireland have indicated that they will respond in the coming days and I will forward a response to the...

Written Answers — Department of Finance: Tax Code (15 Nov 2012)

Michael Noonan: There are different ways of measuring the effective rate of corporation tax depending on the variables that are used. As there is no such single internationally agreed methodology to calculate the effective rate of corporation tax, there is no basis upon which to calculate the current ‘effective rate’ of corporate tax in Ireland without being potentially misleading. Therefore,...

Written Answers — Department of Finance: Tax Collection (15 Nov 2012)

Michael Noonan: I am informed by the Revenue Commissioners that figures of the total manufacturing and non-manufacturing trading profits of companies for the tax year 2010 were provided in my replies to parliamentary question numbers 189 and 190. Such data is contained in the Statistical Reports which are published annually by the Revenue Commissioners on their website – www.revenue.ie . The most...

Written Answers — Department of Finance: European Stability Programmes (15 Nov 2012)

Michael Noonan: The European Council in October agreed that the “the Eurogroup will draw up the exact operational criteria that will guide direct bank recapitalisations by the European Stability Mechanism (ESM), in full respect of the 29 June 2012 euro area Summit statement. It is imperative to break the vicious circle between banks and sovereigns.” Ireland is a special case in this regard...

Written Answers — Department of Finance: Banking Sector Remuneration (15 Nov 2012)

Michael Noonan: AIB has provided me with the following information on annual salaries as at 31st December 2011 Basic Salary € Number of Employees* 150,000 - 199,999 134 200,000 – 299,999 44 300,000 – 399,999 8 400,000+ 4 * AIB had 14,501 members of staff at the end of 2011 End 2012 – projected Basic Salary €Number of Employees 150,000 - 199,999 96 200,000...

Written Answers — Department of Finance: Disabled Drivers (15 Nov 2012)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concession) Scheme provides relief from VAT and VRT (up to a certain limit), and exemption from motor tax, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities. The disability criteria for these concessions are set out in the Disabled Drivers and Disabled Passengers (Tax...

Written Answers — Department of Finance: Tax Yield (15 Nov 2012)

Michael Noonan: I assume the Deputy has in mind a 5 percentage point increase in the rate of Universal Social Charge (USC) applying to incomes exceeding €100,000. The Universal Social Charge (USC) is an individualised charge and as such the yield is calculated for individual incomes of more than €100,000. On that basis I am advised by the Revenue Commissioners that the full year yield,...

Written Answers — Department of Finance: Banking Sector Remuneration (15 Nov 2012)

Michael Noonan: The Government shares the abhorrence of the public at these extravagant pensions but its scope for action to claw back or reduce such entitlements is limited due to constitutional and legal reasons which are well known to the members of the House. Pensions are generally taken to be deferred income and any action to reduce a pension in payment needs to be comprehensively founded lest it run...

Written Answers — Department of Finance: Pension Provisions (15 Nov 2012)

Michael Noonan: The National Asset Management Agency (NAMA) has no employees. Rather, under Section 42 of the NAMA Act 2009, the National Treasury Management Agency (NTMA) assigns staff to NAMA. The public service pension deduction is applied to all NTMA employees.

Written Answers — Department of Finance: Pension Provisions (15 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 74 to 78, inclusive, together. The Pension Related Deduction (PRD) is known as the pension levy. This was a savings measure introduced in the Financial Emergency Measures in the Public Interest Act, 2009, brought in by the Exchequer to reduce the costs of pensions to the State. It only applies to people belonging to public service pension schemes and does...

Written Answers — Department of Finance: Pension Provisions (15 Nov 2012)

Michael Noonan: The Pension Related Deduction (PRD) is known as the pension levy. This was a savings measure introduced in the Financial Emergency Measures in the Public Interest Act, 2009, brought in by the Exchequer to reduce the costs of pensions to the State. It only applies to people belonging to public service pension schemes and does not apply to semi-states or the private sector. Irrespective of the...

Written Answers — Department of Finance: Tax Yield (15 Nov 2012)

Michael Noonan: I am advised by the Revenue Commissioners that while social welfare pensions can be separately identified from other sources of income in Revenue statistics, it is not possible to do so in respect of income from other pensions. Consequently there is no complete or reliable basis available to Revenue on which an estimate of the Exchequer yield from the changes mentioned in the question could...

Written Answers — Department of Finance: International Financial Services Industry (15 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 81, 88 and 89 together. The Department of the Taoiseach has supported the international financial services industry in Ireland since the establishment of the IFSC in 1987 by providing a forum for the exchange of views and the co-ordination of effort through the mechanism of the IFSC Clearing House Group and its related Working Groups. During this period,...

Written Answers — Department of Finance: Bank Debt Restructuring (15 Nov 2012)

Michael Noonan: I have been advised by the Banks that unfortunately it has been impossible to collate this information within this short timeframe. I will forward this information to the Deputy as soon as it is made available to me.

Written Answers — Department of Finance: Banking Operations (15 Nov 2012)

Michael Noonan: The Deputy is aware that under the Relationship Framework the Board of the bank is responsible for the day to day operations of the bank including the funding of the bank. I have not directed IBRC nor have I invited that institution directly to take voluntary losses on its subordinated notes other than when the named institution was invited to participate in IBRC’s liability...

Written Answers — Department of Finance: Universal Social Charge (15 Nov 2012)

Michael Noonan: As the Deputy is aware, the standard rates of Universal Social Charge are:- - 2% on the first €10,036, - 4% on the next €5,980, and - 7% on the balance. However, the maximum rate of charge for such individuals who are aged 70 years or over is 4% irrespective of the level of their income, unless they have self-employment income in excess of €100,000 for a tax year, in...

Written Answers — Department of Finance: Universal Social Charge (15 Nov 2012)

Michael Noonan: To estimate the potential yield from applying the universal social charge (USC) to social protection payments it would be necessary to identify certain details in respect of each recipient of social protection payments such as the individual amount of these payments received, the amount of any other income potentially liable to USC, the age of each individual and whether there was an...