Results 7,721-7,740 of 27,019 for speaker:Michael Noonan

Seanad: Adjournment Matters: Banking Sector Remuneration (15 Nov 2012)

Michael Noonan: Perhaps the Senator will attend the House to tell us how we might deal with that, when certain individuals on single salaries are getting enough to pay for the President, the Taoiseach and going half way towards paying for the Chief Justice as well.

Seanad: Adjournment Matters: Banking Sector Remuneration (15 Nov 2012)

Michael Noonan: The Senator should not discount the strength of moral pressure and the strength of what he is doing today. AIB's board took this very seriously, wrote to their retired executives who had very high pensions and asked them to make a contribution to the State. One individual has made a very big contribution and has taken a reduction in his pension. I would advocate that all others who can see...

Written Answers — Department of Finance: Property Ownership (20 Nov 2012)

Michael Noonan: The Central Bank of Ireland has advised me that it does not collate statistics on the amount of land repossessed by financial institutions. The Central Bank publishes mortgage arrears and repossession statistics in respect of houses only. The latest figures for end Quarter 2 are available on the Central Bank’s website. Policy and information in relation to mineral rights on...

Written Answers — Department of Finance: Tax Reliefs (20 Nov 2012)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 provides for a scheme of tax relief for donations to eligible charities and other approved bodies. An “eligible charity” means any charity which is authorised in writing by the Revenue Commissioners for the purposes of this scheme. An authorisation will not issue unless the applicant charity: - is a body of persons or trust...

Written Answers — Department of Finance: Tax Reliefs (20 Nov 2012)

Michael Noonan: It is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. The Deputy will be aware that tax relief is already available at the taxpayers’ marginal rate in respect of the cost of employing a person (including a person whose services are provided by or through an agency) to take...

Written Answers — Department of Finance: Irish Bank Resolution Corporation (20 Nov 2012)

Michael Noonan: In its interim report of June 2011, the Bank disclosed that it had made a provision of €67m following an internal review of historical interest rate setting procedures as applied to certain loan accounts. I have been advised that this internal review, which was conducted in 2010, addressed the period from 1996 to 2004, to determine whether interest rates applied to customer loan...

Written Answers — Department of Finance: Irish Bank Resolution Corporation (20 Nov 2012)

Michael Noonan: The issue of whether or not the statute of limitation applies to any specific scenario is a legal question, to be determined by a Court on the basis of the relevant legislation, the specific fact set and applicable timelines. I have been informed that following the Bank’s historical interest rate review project, undertaken in 2010, a decision was taken by the Bank not to rely upon the...

Written Answers — Department of Finance: Irish Bank Resolution Corporation (20 Nov 2012)

Michael Noonan: I have been advised by IBRC that the Historical Interest Rate Review project, carried out a tender process for the appointment of an external advisor to conduct an independent third party review of the project. KPMG were subsequently appointed and carried out their review in two phases during 2011. Phase 1 covered the period 1996 to 2004 and KPMG reviewed the following: - Project set up -...

Written Answers — Department of Finance: Tax Yield (20 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 177 to 179, inclusive, together. The Government introduced a temporary levy on funded pension schemes and personal pension plans in order to fund the measures introduced in last year’s Jobs Initiative. The measures introduced as part of the Jobs Initiative include a new 9% VAT rate on certain activities, the halving of the lower rate of PRSI and...

Written Answers — Department of Finance: Budget 2013 (20 Nov 2012)

Michael Noonan: I am aware of the concerns about the impact of the current Budget timetable on Christmas trading volumes. The budget generally takes place in the first week of December in order to ensure that it is underpinned by the most robust data available including the very significant proportion of corporation and income tax revenues that are paid into the Exchequer in November. This enables an...

Written Answers — Department of Finance: Banking Sector Remuneration (20 Nov 2012)

Michael Noonan: AIB has informed me that it is in an on-going process of writing to former senior executives of both AIB and EBS requesting a voluntary reduction in their pension levels. The individuals served in senior management, lending or control positions across the institutions during the period 2005-2008. AIB is not disclosing the names of the individuals on confidentiality grounds but the Bank has to...

Written Answers — Department of Finance: Banking Sector Remuneration (20 Nov 2012)

Michael Noonan: The Deputy should note that I have already provided the information he seeks when responding to his parliamentary question of 15 November 2012 (Ref No 50590/12) on the same subject. For his convenience I am including the information below. “The Deputies will be aware that my Department is presently engaged in a Review of Remuneration Practices and Frameworks at the covered...

Written Answers — Department of Finance: Tax Reliefs (20 Nov 2012)

Michael Noonan: The position is that the dual abode allowance was introduced as and from the income tax year 1966/67. The allowance was granted under Rule 3 of Schedule 2 to the Income Tax Act 1967, now section 114 of Taxes Consolidation Act 1997. Section 851A of the Taxes Consolidation Act 1997, which was inserted by the Finance Act 2011, placed on a formal statutory basis the long-standing and accepted...

Written Answers — Department of Finance: Credit Unions Regulation (20 Nov 2012)

Michael Noonan: I am not aware of other OECD countries which set out terms limits and board restrictions in primary legislation. The Commission on Credit Unions was charged with bringing forward recommendations for the Irish credit union sector. It was not bound to limit its thinking to approaches in place in other financial sectors or in other jurisdictions. The Report is tailored to the Irish credit union...

Written Answers — Department of Finance: Public Sector Pensions (20 Nov 2012)

Michael Noonan: The institutions referred to in your question have supplied me with the following information: Due to data protection legislation I cannot release personal data and therefore I can only supply the information in the following table in response to the question. It includes all staff in AIB, BOI, PTSB, IBRC, NTMA, and NAMA. Number of staff retired since 2008 in receipt of pension payments...

Written Answers — Department of Finance: Public Sector Pensions (20 Nov 2012)

Michael Noonan: In relation to your enquiry regarding the number of current staff who will receive pension payments on retirement of between €100,000 and €200,000, between €200,000 and €300,000 and €300,000 and €400,000 and the number with more than €500,000 at each of the covered banking institutions, the National Treasury Management Agency and National Asset...

Written Answers — Department of Finance: Banking Sector Remuneration (20 Nov 2012)

Michael Noonan: The institutions referred to in your question have supplied me with the following information: Number of staff on total remuneration package (incl pension payments, allowances and benefits of between €100,000-€200,000 Number of staff on total remuneration package (incl pension payments, allowances and benefits of between €200,000-€300,000 Number of staff...

Written Answers — Department of Finance: Banking Sector Remuneration (20 Nov 2012)

Michael Noonan: The institutions referred to in your question have supplied me with the following information in relation to bonuses paid to staff since the introduction of the excess bank remuneration charge: AIB BOI PTSB IBRC Number of staff who have received bonuses between €100,000-€200,000 since introduction of excess bank remuneration charge 0 n/a 0 0 Number of staff who have...

Written Answers — Department of Finance: Pension Provisions (20 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 189 and 190 together. Since 2008 four people have retired from the Department of Finance who are in receipt of an annual pension greater than €100,000 and less than €200,000 which is paid from the Superannuation Vote. There were no retirees with annual pensions greater than this. Current staff members are not in receipt of any remuneration...

Written Answers — Department of Finance: VAT Rates (20 Nov 2012)

Michael Noonan: I am advised by Revenue that an application for a refund of VAT was received from the person concerned on 28 August 2012. This application was in respect of the purchase of a wind turbine and related site works. The refund of VAT in respect of wind turbines is governed by the Value-Added Tax (Refund of Tax) (Flat-rate Farmers) Order 2012. This order stipulates that in order to qualify for a...