Results 9,101-9,120 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Unions Issues (26 Feb 2013)

Michael Noonan: I am advised by the Central Bank of Ireland that certain tracker bonds sold to credit unions which were liabilities of IBRC at the time of the liquidation have a structured deposit element which is covered by the Deposit Guarantee Scheme for that element of the product. As a result the first €100,000 of any claim from these depositors is covered under the DGS Scheme. The bond itself...

Written Answers — Department of Finance: IBRC Liquidation (26 Feb 2013)

Michael Noonan: I can advise the Deputy that the net asset position and consolidated statement of financial position of IBRC at 30 June 2012 is published on page 24 of IBRC’s Interim Report 2012. The total cost of the liquidation is dependent on the value ascribed to the assets in the valuation process currently being conducted by the Special Liquidators. While claims of c.€1 billion are...

Written Answers — Department of Finance: IBRC Liquidation (26 Feb 2013)

Michael Noonan: As part of the transactions relating to the Liquidation of IBRC, the bond repo agreement between IBRC and Bank of Ireland was terminated on a no gain/no loss basis and the Central Bank acquired the bond. This 2025 Irish Government bond will be placed in the trading portfolio of the Central Bank, along with the bonds acquired in exchange for the Promissory Notes. The Central Bank will sell...

Written Answers — Department of Finance: IBRC Liquidation (26 Feb 2013)

Michael Noonan: The Department of Finance received both internal and external legal advice in relation to the liquidation of Irish Bank Resolution Corporation. The legal advice received covered a wide range of issues, however, it would not be appropriate to comment further on the specifics of the advices received, which advices are subject to legal professional privilege.

Written Answers — Department of Finance: Sale of State Assets (26 Feb 2013)

Michael Noonan: I can inform the Deputy that it is not my intention to lay un-audited accounts of Irish Life for the year ended 31 December 2012 before Dáil Éireann and that there is no requirement to do so. I am willing to consider making public the audited accounts of Irish Life for the year ended 31 December 2012 when they become available. The Deputy will be aware that the interim accounts...

Written Answers — Department of Finance: Sale of State Assets (26 Feb 2013)

Michael Noonan: As was announced last week, the sale of Irish Life was a welcome development, representing the first time during the crisis that a company in which we have invested has been returned fully to private ownership. The sale of Irish Life, while benefiting the Exchequer by an estimated €1.3 billion, has a negligible impact on the General Government Balance (GGB) and I would like to make...

Written Answers — Department of Finance: Tax Collection (26 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the details of the amounts of Corporation Tax that remained outstanding for each of the last five years are set out in the following table. These figures relate to each individual year and do not represent the cumulative totals at the end of each period. Total Revenue/Net Receipts Total Debt €m Debt Under Appeal €m Debt...

Written Answers — Department of Finance: Tax Code (26 Feb 2013)

Michael Noonan: Pensions payable by the Department of Social Protection (DSP) have always been taxable but the amount of tax payable, if any, depends on the circumstances of the individual concerned, usually whether they have other sources of income. As I have previously informed the House, I have been advised by the Revenue Commissioners that following receipt of data from the DSP in late 2011 containing...

Written Answers — Department of Finance: Financial Services Ombudsman (26 Feb 2013)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions and it would not be appropriate for me to comment on his work. The Financial Services Ombudsman Bureau was established under the Central Bank and Financial Services Authority of Ireland Act 2004. This legislation provides the Financial Services Ombudsman with various...

Written Answers — Department of Finance: EU Funding (26 Feb 2013)

Michael Noonan: I am advised by the Revenue Commissioners that EU funding for equipment was provided under the OLAF Hercule II programme. This funding is for action to combat fraud affecting the EU’s financial interests, including cigarette smuggling and counterfeiting. Revenue received EU funding between 2009 and 2012 for the purchase of an X-Ray Container Scanner, a Tobacco Dog, a Mobile X-Ray...

Written Answers — Department of Finance: IBRC Staff (26 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 212, 220 to 222, inclusive, and 232 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...

Written Answers — Department of Finance: EU Regulations (26 Feb 2013)

Michael Noonan: The Irish Presidency of the Council of the EU has secured agreement, on behalf of euro area member countries, with the European Parliament and the European Commission, on two proposed regulations the "two-pack". One of the proposals is on the monitoring and assessment of draft budgetary plans and on ensuring the correction of excessive deficits. The other is on the strengthening of economic...

Written Answers — Department of Finance: Property Taxation Collection (26 Feb 2013)

Michael Noonan: I am advised by the Revenue Commissioners that commencing in March 2013 residential property owners will receive their Local Property Tax (LPT) Return from Revenue together with an LPT booklet, which will provide details of the payment options available to pay the tax. The LPT Return must be submitted and payment details provided to Revenue by 7 May, if using the paper return, and by 28 May...

Written Answers — Department of Finance: Fuel Rebate Scheme (26 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 215 and 223 together. 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. Deputies will now be aware that I have extended the relief to the licensed passenger transport sector which would include Dublin Bus and Bus...

Written Answers — Department of Finance: Departmental Agencies (26 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 216 and 217 together. In response to the Deputy's question details in respect of agencies under the remit of my Department are as follows: Financial Services Ombudsman Bureau / Financial Services Ombudsman In relation to the Financial Services Ombudsman Bureau / Financial Services Ombudsman no bonuses or performances related payments were made to any staff...

Written Answers — Department of Finance: Financial Services Ombudsman (26 Feb 2013)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions and it would not be appropriate for me to comment on his work. The Financial Services Ombudsman Bureau was established under the Central Bank and Financial Services Authority of Ireland Act 2004. This legislation provides the Financial Services Ombudsman with various...

Written Answers — Department of Finance: Tax Reliefs (26 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that their obligation to observe confidentiality for taxpayers and small groups of taxpayers precludes them from providing the information requested.

Written Answers — Department of Finance: Property Taxation Exemptions (26 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 224 and 226 together. Section 6 of the Finance (Local Property Tax) (Amendment) Bill 2013 provides for a reduction in the market value of a residential property that has been adapted for occupation by a disabled person where the adaptation has been grant-aided by a local authority. In addition to the payment of the local authority grant, two other...

Written Answers — Department of Finance: IBRC Liquidation (26 Feb 2013)

Michael Noonan: I am advised that the contractual terms and conditions of customer mortgages and other borrowings will not change as a result of the appointment of the Special Liquidators and all debts owing to IBRC will remain due and enforceable. It is important that, to avoid breaches of their obligations, customers continue to make payments on their loans and otherwise honour the contractual obligations...

Written Answers — Department of Finance: State Banking Sector (26 Feb 2013)

Michael Noonan: The Deputy will be aware that AIB has previously confirmed that it has written to former senior executives of both AIB and EBS Limited requesting a voluntary reduction in their pension levels. The Bank has informed me that is not disclosing the names of these individuals on confidentiality grounds, but that it has to date issued in excess of thirty letters. AIB is not in a position to...