Results 9,021-9,040 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: IBRC Staff (19 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 288, 295 and 296 together. As the Deputy is aware, the legislation surrounding liquidation ranks employees as preferential creditors in respect of certain amounts owing to them on a winding up, including accrued wages and salaries, holiday pay, sick pay, statutory redundancy, pensions contributions and claims for damages arising from accidents. The special...

Written Answers — Department of Finance: Excise Duty Reliefs (19 Feb 2013)

Michael Noonan: The proposal to introduce an auto-diesel excise duty relief for licensed road hauliers that I announced in the Budget was, initially, confined to licensed and tax compliant hauliers. However having received a number of submissions from, and on behalf of, private coach operators seeking to have this relief extended to them, the Deputy will now be aware, having seen the Finance Bill, published...

Written Answers — Department of Finance: IBRC Liquidation (19 Feb 2013)

Michael Noonan: I have been advised that the liquidation of IBRC will not affect disciplinary action being undertaken by the Chartered Accountants Regulatory Board (CARB), in accordance with the Bye-Laws of the Institute of Chartered Accountants in Ireland, in relation to Ernst & Young in respect of their former role as auditors of Anglo Irish Bank. In September 2011 further to a report by the Special...

Written Answers — Department of Finance: Excise Duties Yield (19 Feb 2013)

Michael Noonan: The €1 increase on excise duty on a bottle of wine announced in Budget 2013 is expected to yield €60 million.

Written Answers — Department of Finance: Departmental Correspondence (19 Feb 2013)

Michael Noonan: It is the policy of my Department to publish as much correspondence as possible where the publication of the correspondence is in the public interest and where it is reasonably practicable to do so. For example my Department has released under the Freedom of Information Act 1997 correspondence from the then Minister for Finance to the EU Commissioner on Economic and Monetary Affairs, the...

Written Answers — Department of Finance: IBRC Staff (19 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 293 and 294 together. I am advised by NAMA that as it will not have visibility on the portfolio to be acquired until late August, following the completion of a loans valuation and sales process by the Special Liquidators, it is premature at this stage to comment on the matters raised by the Deputy.

Written Answers — Department of Finance: Financial Services Ombudsman (19 Feb 2013)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the carrying out of his duties. I have no role in the day to day workings of the office. I have been advised by the Office of the Financial Services Ombudsman that the information requested by the Deputy is retained in confidence by the Office. However, the Financial Services Ombudsman has informed me that...

Written Answers — Department of Finance: Tax Reliefs (20 Feb 2013)

Michael Noonan: The Deputy will be aware that the proposed Living City Initiative is a pilot project which seeks to encourage people back to the centre of Irish cities to live in buildings of historic and cultural importance as well as encouraging the regeneration of the retail heartland of central business districts. This modest pilot project is targeted at Waterford and Limerick cities, both of which were...

Written Answers — Department of Finance: Tax Reliefs (20 Feb 2013)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 (TCA) provides for a scheme of tax relief on donations to approved bodies. The list of approved bodies for the purposes of section 848A, which includes eligible charities, bodies approved for education in the arts and eligible primary, secondary and third level institutions, is available on the Revenue website at www.revenue.ie. The following...

Written Answers — Department of Finance: Pension Provisions (20 Feb 2013)

Michael Noonan: I can advise the Deputy unlike in other liquidations, the majority of employees have been re-hired by the special liquidators, for an expected minimum period of 3 months, to ensure an orderly wind-down of the business. The special liquidators have advised staff that their pensions are controlled by the scheme trustees who will have to independently assess the impact of the IBRC Act 2013...

Written Answers — Department of Finance: Redundancy Payments (20 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 96, 99, 101 and 102 together. Following the liquidation, all employment contracts in the Republic of Ireland have been terminated, including those of the former senior executives. The special liquidators have confirmed that the majority of staff, including some senior staff, have been re-employed on short term contracts to assist in the liquidation. ...

Written Answers — Department of Finance: Disabled Drivers (20 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No. 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994) (as amended) provide for permanent relief from the payment of specified maximum amounts of VAT and VRT for persons registered under the scheme. The legislation specifies...

Written Answers — Department of Finance: Property Taxation Exemptions (20 Feb 2013)

Michael Noonan: While no specific exemption from local property tax for individuals in the Health Service Executive Fair Deal Scheme is provided in either the Finance (Local Property Tax) Act 2012 or the Finance (Local Property Tax) (Amendment) Bill 2013, which I published last week, the legislation does provide for a number of exemptions from the Local Property Tax (LPT) as well as for the possibility of...

Written Answers — Department of Finance: NAMA Operations (20 Feb 2013)

Michael Noonan: I am advised by NAMA that as it will not have visibility on the portfolio to be acquired until late August, following the completion of a loans valuation and sales process by the Special Liquidators, it is not possible at this stage to assess the possible impact of the acquisition of the unsold element of the IBRC loans portfolio on cash flow projections for NAMA.

Written Answers — Department of Finance: Property Taxation Exemptions (20 Feb 2013)

Michael Noonan: The Finance (Local Property Tax) (Amendment) Bill 2013 provides for additional exemptions from the charge to Local Property Tax (LPT). It should be noted that the following information on the proposed exemptions is subject to enactment of the Bill. Residential properties owned by a charity and used solely as residential accommodation in the course of facilitating recreational...

Written Answers — Department of Finance: IBRC Liquidation (20 Feb 2013)

Michael Noonan: IBRC’s claims against third parties are unaffected by the liquidation. The Special Liquidators will have the power to continue to manage any IBRC claims that currently exist and will have the ability to assert further claims where they arise. The special liquidators ensure that all potential conflicts of interest identified are fully considered. The special liquidators do not believe...

Written Answers — Department of Finance: Banking Sector Remuneration (20 Feb 2013)

Michael Noonan: My Department is presently finalising the report with the consultants and I will bring it to Government shortly for decision. As I have said previously there is a real public interest in the levels of remuneration at the Covered Institutions and I will endeavour to have the details underpinning the review published as soon as possible thereafter.

Written Answers — Department of Finance: NAMA Operations (20 Feb 2013)

Michael Noonan: I am advised that NAMA is currently reviewing its options and will determine its approach in due course.

Written Answers — Department of Finance: IBRC Liquidation (20 Feb 2013)

Michael Noonan: There is an obligation on the Special Liquidators to ensure that the assets of IBRC are sold at a price which maximises the overall return for its creditors. As part of the role of the liquidators, the assets of IBRC will be valued independently before being sold. Any assets not sold to third parties (including loan counterparties and other financial institutions) at or above the valuation...

Written Answers — Department of Finance: IBRC Liquidation (20 Feb 2013)

Michael Noonan: The payments in excess of €1m made by IBRC for the seven days prior and post the liquidation are commercially sensitive matters and therefore I cannot provide such information. It is normal course of practise that payments made by IBRC and the Special Liquidator are conducted under appropriate confidentiality constraints in order to protect the interests of all parties.