Results 8,141-8,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Yield (6 Dec 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the total payments to the Exchequer resulting from the introduction of Carbon Tax are shown in the tables below. Carbon Tax 2010 2011 2012 (10Mths) €m €m €m Auto Diesel 98.41 97.53 107.17 Petrol 65.09 60.11 62.37 Aviation Gasoline 0.04 0.04 0.04 Kerosene 16.99 40.52 28.54 MGO 27.03...

Written Answers — Department of Finance: EU Directives (6 Dec 2012)

Michael Noonan: The taxation of energy products is to a certain extent harmonized at EU level. Directive 2003/96/EC known as the Energy Tax Directive (ETD) refers. The current ETD provides for minimum excise rates of taxation for energy products based on the volume of a product released for consumption. Member States must respect the minimum rates and not tax products below those rates, but are free to set...

Written Answers — Department of Finance: Budget Submissions (6 Dec 2012)

Michael Noonan: I have received a copy of the submission to which the Deputy refers. As with other pre-Budget submissions it was circulated to the relevant officials in my Department so that its contents could be considered in the context of the Budget and the forthcoming Finance Bill.

Written Answers — Department of Finance: Customs and Excise Controls (6 Dec 2012)

Michael Noonan: I am advised by the Revenue Commissioners that on 29 November 2012 the person concerned was stopped by a Revenue Customs Officer in the Customs Blue Channel at Dublin Airport. The person had arrived in Dublin on a flight from Istanbul having started her journey in China. As a traveller from a non-EU country, the person should not have attempted to exit the baggage hall by way of the Blue...

Written Answers — Department of Finance: Tax Reliefs (11 Dec 2012)

Michael Noonan: The VRT reliefs for electric vehicles (up to €5,000), plug-in hybrid electric vehicles (up to €2,500), and hybrid and flexible fuel vehicles (up to €1,500), which were due to end on 31 December 2012, have been retained for a further 12 months to end December 2013.

Written Answers — Department of Finance: Sale of State Assets (11 Dec 2012)

Michael Noonan: NewERA has been established within the NTMA, initially on a non-statutory basis. It is performing a centralised shareholder advisory role from a financial and commercial perspective in respect of corporate governance matters for five commercial semi-state companies: ESB, Bord Gais Eireann, EirGrid, Bord na Mona and Coillte. It is providing advice to Government Departments in relation to a...

Written Answers — Department of Finance: Banking Operations (11 Dec 2012)

Michael Noonan: I propose to take Questions Nos. 125 and 128 together. I have been advised that it is not the practice of IBRC to disclose detailed information in relation to the dealings of any individual account holder with the Bank. However, the Bank has informed me that it previously disclosed that it had made a provision of €67m, following an internal review of historical interest rate setting...

Written Answers — Department of Finance: Banking Operations (11 Dec 2012)

Michael Noonan: I have been informed by the bank that any queries related to matters such as instances of potential overcharging are dealt with on a case by case basis by the bank with individual customers. Any potential broader issues which affect a greater population of customers are dealt with via established procedures in consultation with the Central Bank as regulator.

Written Answers — Department of Finance: Banking Operations (11 Dec 2012)

Michael Noonan: I have been advised that Permanent TSB has approximately 1.8 million customer accounts. Given this volume of accounts it is inevitable that from time to time errors will arise and Permanent TSB is committed to minimising such errors, and where they do occur, ensuring that the errors are rectified as soon as possible. Permanent TSB has informed me that in the years 2009-2011 inclusive there...

Written Answers — Department of Finance: Banks Recapitalisation (11 Dec 2012)

Michael Noonan: As detailed in the table the State’s total net notional cash investment in Bank of Ireland (BOI) at 7/12/2012 was €2.1 billion. The State’s current investment in BOI is: -15% Ordinary Shares (i.e. 4,559 million shares). Share price of BOI at 06/12/12 was 12c. -€1.8 billion Preference Shares with 10.25% coupon p.a. -€1 billion Contingent Capital with a 10%...

Written Answers — Department of Finance: National Asset Management Agency (11 Dec 2012)

Michael Noonan: This is an operational matter for NAMA. However, I am advised by NAMA that, where necessary for the preservation and enhancement of the value of property securing its loans, it permits the retention of appropriate overheads by debtors. NAMA advises that it has typically required debtors to reduce their business overheads by between 50% and 75% on the levels prevailing prior to its...

Written Answers — Department of Finance: Banking Sector Regulation (11 Dec 2012)

Michael Noonan: I have been informed by my colleague, the Minister for Jobs, Enterprise and Innovation, that Directive 2006/43/EC of the 17 August 2006 introduced new rules on statutory audits of annual accounts and consolidated accounts. The Directive provides for the reinforcement and harmonisation of the statutory audit function throughout the EU. It clarifies the duties of statutory auditors and...

Written Answers — Department of Finance: Tax Repayment (11 Dec 2012)

Michael Noonan: I am advised by the Revenue Commissioners that they have examined the matter and that a repayment in respect of 2011 will issue in this case shortly.

Written Answers — Department of Finance: Mortgage Interest Relief (11 Dec 2012)

Michael Noonan: This is a matter for the Revenue Commissioners who are responsible for the administration of mortgage interest relief through the Tax Relief at Source (TRS) system. I am advised by Revenue that the person in question applied for mortgage interest relief on a top-up loan on 21 April 2009. Relief was initially granted but, due to changes to mortgage interest relief rules, was ceased with effect...

Written Answers — Department of Finance: Overseas Development Aid (11 Dec 2012)

Michael Noonan: I should take this opportunity to highlight the significant contribution that multinational companies make to the Irish economy, both in terms of generating employment and contributing tax revenue. According to an Autumn 2012 Report from IDA Ireland, 146,000 people are directly employed by multinationals in Ireland, and the total of direct and indirect jobs attributable to multinationals is...

Written Answers — Department of Finance: Tax Yield (11 Dec 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the agricultural sector uses two types of diesel namely Marked Gas Oil (MGO) and Auto-Diesel. Both MGO and Auto-Diesel are also used in residential and other commercial sectors and excise returns are not captured by sector. Similarly, the information to be furnished on VAT returns does not require the yield from particular sectors of trade...

Written Answers — Department of Finance: Household Credit Provisions (11 Dec 2012)

Michael Noonan: The Deputy refers to changes in the outstanding amounts of credit advanced to Irish households by credit institutions resident in the State, as published in the Central Bank’s Money and Banking Statistics. I have been informed by the Central Bank that the developments in this series in 2009 and 2011 noted by the Deputy do not reflect issues related to Bank of Scotland (Ireland),...

Written Answers — Department of Finance: Illegal Moneylenders (11 Dec 2012)

Michael Noonan: Moneylenders are licensed by the Central Bank of Ireland in accordance with the provisions of Part VIII of the Consumer Credit Act 1995 (as amended). Moneylenders have to apply to the Central Bank each year for renewal of the licence. In addition to the provisions of the Consumer Credit Act 1995, a licensed moneylender must comply with the provisions of the Consumer Protection Code for...

Written Answers — Department of Finance: Public Sector Receipts (11 Dec 2012)

Michael Noonan: The table below contains estimates of expected Irish public sector receipts from the European Union for 2012 and 2013 and is presented in the format of the Budget and Economic Statistics published by the Department of Finance. The 2012 figures are based on estimates of expected receipts provided earlier this year by Government Departments. Accordingly, these figures are likely to be revised...

Written Answers — Department of Finance: National Asset Management Agency (11 Dec 2012)

Michael Noonan: I do not intend to go beyond the extensive information that NAMA, based on legal advice, has already made publicly available on this matter. On 27th November, NAMA published, in line with the commitment by the NAMA Chairman at the recent meeting of the Joint Oireachtas Committee on Finance, Public Expenditure and Reform, the detail of a report by its internal auditors, Deloitte, on the...