Results 9,141-9,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (27 Feb 2013)

Michael Noonan: All companies in Ireland pay the standard 12.5% rate on their trading profits which are generated in Ireland. A higher 25% rate applies in respect of investment, rental and other non-trading profits and profits from certain petroleum, mining or land dealing activities. I am aware of recent media reports which refer to the ways that some multinational companies structure their international...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (27 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 78 and 79 together. Debt overhang and SME arrears are issues which impact on the ability of a SME to meet its existing commitments as well as hindering its ability to secure additional credit which it may need. I meet regularly with representatives of the banking sector about all aspects of the economy and this is a topic addressed in those meetings. The...

Written Answers — Department of Finance: Maternity Benefit (27 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the expected yield from the taxation of Maternity Benefit payments, which will take effect from 1 July 2013, is estimated at €15 million in 2013 and €40 million in a full year. Such payments will remain exempt from Universal Social Charge. The statistical basis of this estimate was the estimated aggregate amount of the benefit...

Written Answers — Department of Finance: Additional Voluntary Contributions (27 Feb 2013)

Michael Noonan: Finance Bill 2013 provides that persons making Additional Voluntary Contributions (AVCs) used to supplement their main scheme retirement benefits can withdraw up to 30% of the value of those contributions. Any amounts withdrawn will be subject to tax at the individual’s marginal rate. The option will be available for 3 years from the passing of the Finance Bill. This is a restricted...

Written Answers — Department of Finance: Property Taxation Application (27 Feb 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 provides that local authorities will be liable to pay the Local Property Tax (LPT) on their properties in the same way as any other residential property owner, unless the properties are used to accommodate people with special housing needs. I am informed by the Revenue Commissioners that they are liaising with the Department of the Environment,...

Written Answers — Department of Finance: Fuel Rebate Scheme (27 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 84, 85 and 89 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. However having received a number of submissions from, and on behalf of, private coach operators seeking to have this relief extended to them, Deputies...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (27 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 86 and 87 together. The Deputy will be aware that the Credit Reviewer said in his most recent quarterly report that “Both banks have achieved their €3.5bn SME loan sanction targets. Over €8bn was sanctioned in 2012; of which approx. €2.5bn (27%) is new lending drawn down.” According to the Credit Review Office, the...

Written Answers — Department of Finance: Job Initiatives (27 Feb 2013)

Michael Noonan: The economic and labour market impact of any stimulus depends upon the type of measure involved. Fiscal multipliers vary according to the fiscal instruments used, and the impact on both growth and job creation as a result can differ accordingly. Ireland is a small, open economy with imports accounting for over three quarters of GDP. As a result, a considerable amount of any stimulus is...

Written Answers — Department of Finance: Sale of State Assets (27 Feb 2013)

Michael Noonan: I can advise the Deputy that a sale process was conducted beginning in mid-2011 in which 51 bidders were contacted about the opportunity to acquire Irish Life. Great-West Lifeco emerged as the preferred bidder for Irish Life following this process. However as a result of fears of a Eurozone break-up on the part of Great-West Lifeco, they withdrew their offer in late November 2011 and the...

Written Answers — Department of Finance: NAMA Operations (27 Feb 2013)

Michael Noonan: I would like to remind the Deputy that the NAMA Advisory Group has been set up to advise me in the following areas: - The strategy of NAMA. - The appointment of directors to NAMA. - The remuneration of senior executives in NAMA. - Any further advice I may seek of them. The group operates on an informal basis and reports directly to me. Each of the members of the group has specific...

Written Answers — Department of Finance: IBRC Liquidation (27 Feb 2013)

Michael Noonan: Pursuant to a Transfer Order made by the High Court under CISA on 24 February 2011 (the “Transfer Order”), Anglo Irish Bank transferred the vast majority of its Irish and UK customer deposits to Allied Irish Banks, p.l.c. (‘AIB’) and AIB Group (UK) p.l.c. (‘AIB UK’), together with its NAMA senior bonds and its Isle of Man subsidiary. As part of...

Written Answers — Department of Finance: House Purchase Schemes (27 Feb 2013)

Michael Noonan: Demand for credit from first time buyers is an important component of the demand side in the housing market. It is important to the economy as a whole that creditworthy individuals are able to access credit when they decide to purchase a house for the first time. Central Bank figures are published in Table A.1 Summary of Irish Private Sector Credit and Deposits which is available at . They...

Written Answers — Department of Finance: NAMA Portfolio (27 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 96 to 98, inclusive, together. NAMA advises that, to ensure that debtors repay their debt to their full capacity, it requires, inter alia, that they provide security over unencumbered assets not previously pledged as loan security, where such assets exist, and the reversal of asset transfers to relatives and others, where they have occurred. NAMA...

Written Answers — Department of Finance: Data Protection (27 Feb 2013)

Michael Noonan: As the Deputy can appreciate, it is not my function, as Minister for Finance, to formally monitor cases been taken by the Data Protection Commissioner against individuals and companies. The Minister for Justice and Equality has advised me that the Data Protection Commissioner is independent in the performance of his duties.

Written Answers — Department of Finance: Carbon Tax Exemptions (27 Feb 2013)

Michael Noonan: The carbon tax was increased by €5 per tonne of carbon in Budget 2012 due to budgetary constraints and a requirement to raise revenue to provide for essential public services. Increasing the carbon tax by €5 meant a relatively small increase spread across all fossil fuels rather than larger increases in the excise rates on specific fuels, such as petrol or diesel. I have no...

Written Answers — Department of Finance: Economic Statistics (27 Feb 2013)

Michael Noonan: Set out below are the annual amounts of gross fixed capital formation from 2000 to 2011, as produced by the Central Statistics Office (CSO). The CSO will publish the Q4 2012 National Accounts data in the coming months, at which time the full year figure for 2012 will be available. Gross Domestic Fixed Capital Formation at Current Market Prices - €m 2000 2001 2002 2003 2004...

Written Answers — Department of Finance: Customs Cutters (27 Feb 2013)

Michael Noonan: I am informed by Revenue that the role of the Maritime Unit, equipped with the two Revenue Customs Cutters, is to exercise responsibility for the customs function around the Irish coast and in territorial waters, up to 12 miles offshore. The primary aim of coastal activity is to prevent, detect and deter smuggling and illegal importation of controlled drugs and other goods. It involves...

Written Answers — Department of Finance: Official Engagements (27 Feb 2013)

Michael Noonan: I travelled to Davos, Switzerland, to attend the annual meeting of the World Economic Forum, from 23 to 25 January. The World Economic Forum annual meeting is attended by political and business leaders and heads of international organisations. The theme of this year’s meeting was ‘Resilient Dynamism.’ While in Davos I held bilaterals with a number of my counterparts...

Written Answers — Department of Finance: Gas Exploration (27 Feb 2013)

Michael Noonan: I am advised by the Revenue Commissioners that for reasons of taxpayer confidentiality they are not in a position to provide the information sought by the Deputy.

Written Answers — Department of Finance: Departmental Staff Numbers (27 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 105 and 106 together. My Department does not employ agency staff. In my Department the following are employed on a contract basis : 6 Clerical Officers (1 year temporary contract), 4 Administrative Officers (1 year temporary contract), 1 HR Manager (3 year contract) and, 1 Banking Specialist (1 year contract), 2 Special Advisers (contract is co-terminus with...