Results 8,501-8,520 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs (16 Jan 2013)

Michael Noonan: I assume the Deputy is referring to the report by Dr. Alan Aherne for the Irish Hotels Federation. Officials in my Department are examining the proposals made in the report and will set out the issues for my consideration in due course.

Written Answers — Department of Finance: Jobs Initiative (16 Jan 2013)

Michael Noonan: I propose to take Questions Nos. 194 to 197, inclusive, together. As part of the Jobs Initiative and in an effort to support job creation in the tourism industry, the Government introduced a temporary reduced rate of VAT of 9 per cent. The measure took effect at the start of the third quarter of 2011 and applied mainly to labour-intensive services provided by restaurants and hotels, as well...

Written Answers — Department of Finance: Credit Review Office (16 Jan 2013)

Michael Noonan: The latest report of the Credit Review Office Shows that the CRO upheld the banks’ decision in 76 cases and disputed the decision in 96 cases and the banks subsequently provided credit. In addition there were 20 cases where either more work was needed by the bank and borrower or the review was withdrawn. These figures show that the CRO can make a genuine difference in relation to...

Written Answers — Department of Finance: Job Creation (16 Jan 2013)

Michael Noonan: My Department considers various research publications and reports on an on-going basis as part of the process of developing tax policy. While the Department has not published its own research in relation to the points raised by the Deputy, I would refer to the OECD Report, “Tax Effects on Foreign Direct Investment – Recent Evidence & Policy Analysis” (2008)...

Written Answers — Department of Finance: Tobacco Smuggling (16 Jan 2013)

Michael Noonan: The Revenue Commissioners are responsible for tackling the illicit trade in oil and tobacco products, and for dealing with counterfeit products that are being imported from or exported to countries outside the European Union. As I indicated in my reply to the Deputy’s Questions Nos. 55 and 56 of 21 November 2012, the Revenue Commissioners attach a high priority to combating criminal...

Written Answers — Department of Finance: Banks Recapitalisation (16 Jan 2013)

Michael Noonan: The State’s investment in the contingent convertible capital notes of AIB, Bank of Ireland and PTSB dates back to the 2011 PCAR exercise while the preference shares were acquired in 2009 as a result of the Government’s recapitalisation of AIB and Bank of Ireland. It is government policy to separate the State from its’ banks, a policy which I believe has shared support in...

Written Answers — Department of Finance: Tax Yield (16 Jan 2013)

Michael Noonan: As the Deputy may be aware the Department of Finance has a publicly available databank on its website with comprehensive tax data where this information can be found (http://databank.finance.gov.ie/). Similarly GNP data can be found on the CSO website (www.cso.ie). The estimate for 2012 GNP is taken from the Budget 2013 publication and is rounded to the nearest €25 million. The...

Written Answers — Department of Finance: Departmental Expenditure (16 Jan 2013)

Michael Noonan: I propose to take Questions Nos. 204 and 224 together. In response to the Deputy’s questions the details of bodies of other than statutory bodies that were fully or partially funded by my Department in 2012 are as follows: The Credit Union Restructuring Board operated on an administrative basis under the Department of Finance in 2012 pending its establishment as a statutory body...

Written Answers — Department of Finance: State Banking Sector (16 Jan 2013)

Michael Noonan: The State acquired Irish Life on 30 June 2012 and since that time has not received a dividend. Irish Life announced their interim results for H1 2012 on 19 Sep 2012, a copy of which is available at http://www.irishlifegroup.ie/financial-information/annual-an d-interim-reports/2012.aspx. For the six month period ended 30 June 2012 the company reported a profit before tax of €96m on an...

Written Answers — Department of Finance: State Banking Sector (16 Jan 2013)

Michael Noonan: I can inform the Deputy that the table below details the amount of public money invested and sums paid by Allied Irish Bank since 2008. Cash invested by the State - € billion Government Preference Shares - NPRF 3.5 Contingent Convertible Capital Notes 1.6 Capital - NPRF 12.5 Capital - Exchequer 2.3 Capital contributions (Promissory Notes /Special Investment Shares) -...

Written Answers — Department of Finance: State Banking Sector (16 Jan 2013)

Michael Noonan: I can inform the Deputy that in total Permanent TSB received €4 billion of public money since 2008. This is made up of €2.7 billion invested in July 2011 - €2.3 billion invested in ordinary shares and €0.4 billion invested in contingent convertible capital notes - and €1.3 billion for the purchase of Irish Life in June 2012. The fees paid by Permanent TSB...

Written Answers — Department of Finance: Strategic Investment Fund (16 Jan 2013)

Michael Noonan: I am advised by the National Treasury Management Agency (NTMA) as manager of the NPRF that it has not been possible to compile the information requested by the Deputy in the time available. However, I will be in contact with the Deputy when the information has been compiled.

Written Answers — Department of Finance: General Government Debt (16 Jan 2013)

Michael Noonan: Budget 2013 contained a forecast General Government Balance (Deficit) of -8.2% of GDP which was based on the most up to date information available at the end of November. In light of the better than expected Exchequer returns for December 2012, it is now reasonable to expect that the General Government Balance (GGB) for 2012 will be under -8% of GDP. However, the first official estimate of...

Written Answers — Department of Finance: Tax Reliefs (16 Jan 2013)

Michael Noonan: Following a public consultation on proposed changes to the scheme of tax relief for donations to approved bodies, I announced the following changes in the recent Budget: i. Donations from all individual donors under the scheme will be treated in the same manner, with the tax relief in all cases being repaid to the charity. ii. A blended rate of relief of 31% will apply to all taxpayers...

Written Answers — Department of Finance: Departmental Expenditure (16 Jan 2013)

Michael Noonan: The Central Bank produces euro coins to meet the demands of public and businesses. Traditionally, the Central Bank retained the proceeds from the issue of coin in its currency reserve. In the light of the introduction of euro coin from 1 January 2002, and to bring the position into line with general practice in other EU Member States, legislation was passed in March 2002 (Section 137 of the...

Written Answers — Department of Finance: EU Funding (16 Jan 2013)

Michael Noonan: Ireland’s contribution to the EU Budget for the years 2006 – 2013 is detailed in the table below. Payments to the European Union (€m) - 2006 2007 2008 2009 2010 2011 2012 2013 (e) Total 1,529 1,570 1,586 1,486 1,352 1,349 1,393 1,450 Article 311 of the Treaty of Lisbon sets out the legal arrangements for funding the EU Budget. The basic legislation is laid down...

Written Answers — Department of Finance: Capital Expenditure (16 Jan 2013)

Michael Noonan: The breakdown of the €30.5 million Miscellaneous Capital Receipts recorded in the December 2012 Exchequer statement is set out in the table below. Please note that these are provisional unaudited figures. Account GL Description Date Total Min. Finance Capital Receipts Receipt from IBRC 19 April 2012 €1.00 Finance Act 1978 Finance Acts 1978 & 1990 27 April 2012...

Written Answers — Department of Finance: Tax Yield (16 Jan 2013)

Michael Noonan: It is not possible to provide a breakdown of the customs receipts of €250,384,000 as listed in the December Exchequer statement. Customs are considered an Own Resource of the European Union. Approximately 25% of the customs receipts are retained by the relevant Member State as a "payment" for the collection cost with the balance paid to the EU to fund the EU budget.

Written Answers — Department of Finance: Tax Yield (16 Jan 2013)

Michael Noonan: The €4.7 billion yield as listed in the December Exchequer Statement is made up of the following commodities. Cumulative Receipts Commodity 2012 €m Beer 308.4 Spirits 261.3 Wine 225.2 Cider 42.6 Tobacco 945.0 Light Oils 906.3 Other Oils 1126.7 Carbon 354.0 VRT 379.1 Other Excise 80.0 Motor Tax 46.5 Total Excise 4675.0 The above figures are provisional.

Written Answers — Department of Finance: Tax Yield (16 Jan 2013)

Michael Noonan: The only available breakdown of Stamp Duty Receipts is on a Revenue Net Receipts basis, rather than on an Exchequer Receipts basis. These can differ slightly from Exchequer Receipts for reasons of accounting and timing. I ask the Deputy to note the figures are provisional and subject to revision. Description 2011 (€m) 2012 (€m) Property: 134.54 105.41 Residential...