Results 9,341-9,360 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Exemptions (5 Mar 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 sets out how the tax is to be administered and provides that a liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which for 2013 will be 1 May 2013 and for subsequent years will be 1 November in the preceding year. Section 7 of the Act provides that local authorities will be liable to...

Written Answers — Department of Finance: State Savings Scheme (5 Mar 2013)

Michael Noonan: The National Solidarity Bonds consist of two elements. On maturity, the bonds attract a lump sum payment that does not form part of income as estimated in accordance with the Tax Acts and is, therefore, exempt from income tax and universal social charge and from the charge of PRSI. Annually, a payment of interest is made to the bondholder and deposit interest retention tax (DIRT) is...

Written Answers — Department of Finance: Tax Rebates (5 Mar 2013)

Michael Noonan: I am advised by the Revenue Commissioners that, in the year 2012, Relevant Contracts Tax (RCT) of €28,730.27 was deducted from relevant payments made to the person in question and remitted to Revenue. As requested by his agent, a total of €23,332.47 of this has been offset against other liabilities, as follows: - VAT liabilities of €7,167.00 for the year 2011; - VAT...

Written Answers — Department of Finance: Tax Reliefs (5 Mar 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, as the Deputy will now be aware I have extended the relief to the...

Written Answers — Department of Finance: Banking Sector Regulation (5 Mar 2013)

Michael Noonan: Ireland generally supports greater transparency and has made significant efforts since the banking crisis to promote transparency and openness in the banking sector. As President of the Council of the EU, Ireland has worked with other Member States to provide in the Capital Requirements Directive and Regulation (CRD IV/CRR) for appropriate levels of transparency. The text provisionally...

Written Answers — Department of Finance: International Agreements (5 Mar 2013)

Michael Noonan: I propose to take Questions Nos. 154 to 156, inclusive, together. I am advised by the Revenue Commissioners that in the normal course of updating and extending Ireland’s double taxation treaty base, the provisions of those treaties are regularly evaluated with a view to ensuring their adequacy from Ireland’s perspective but also from the point of view of treaty partner...

Written Answers — Department of Finance: Pension Provisions (5 Mar 2013)

Michael Noonan: In my Budget 2013 speech, I announced that I would make provision in Finance Bill 2013 for persons making Additional Voluntary Contributions (AVCs) used to supplement their main scheme retirement benefits to 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...

Written Answers — Department of Finance: IBRC Liquidation (5 Mar 2013)

Michael Noonan: I have been advised by the special liquidators that the Request for Proposal (“RFP”) is confidential as it contains commercially sensitive material around the IBRC portfolio and around the independent valuation methodology against which bidders for loan assets will be bidding. The Special Liquidators have indicated that releasing information on the methodology may prejudice the...

Written Answers — Department of Finance: IBRC Loan Book (5 Mar 2013)

Michael Noonan: I am advised that the Special Liquidators are in the process of obtaining suitable independent professional advisers who shall employ standard valuation methodologies appropriate to each class of asset of IBRC. As previously stated, detailed information in relation to the Bank’s financial performance, including information on provisioning is published semi-annually in the...

Written Answers — Department of Finance: IBRC Loan Book (5 Mar 2013)

Michael Noonan: I am advised by the Special Liquidators that the reports in the Sunday newspaper referred to are incorrect. The Special Liquidators are still in the process of devising and implementing the sales process in respect of IBRC’s assets. Therefore, they are not in a position to write to borrowers with regard to the disposal of their loans. The Special Liquidators are in the process of...

Written Answers — Department of Finance: NAMA Portfolio (5 Mar 2013)

Michael Noonan: I refer the Deputy to my response to Parliamentary Question No. 92 of 28 February 2013 in which I set out the following facts. NAMA advises that it does not take a decision to demolish any development lightly but that this may be considered as a means of reaching resolution on properties where the development is, for economic, structural and safety reasons, not viable. Decisions are made on...

Written Answers — Department of Finance: NAMA Operations (5 Mar 2013)

Michael Noonan: I am advised by NAMA that the overall objective for the proposed research work is to produce practical market insights that will facilitate informed decision-making by all market participants, including potential purchasers, investors and the construction industry. NAMA advises that the research work will cover a number of relevant issues, including the likely pattern of economic recovery...

Written Answers — Department of Finance: Sale of State Assets (5 Mar 2013)

Michael Noonan: I propose to take Questions Nos. 163 and 164 together. I can inform the Deputy that the price earnings ratio implied by the sale of Irish Life is 12x, based on expected 2012 earnings. I have been informed that no listed companies in Ireland are comparable to Irish Life. I am advised by Goldman Sachs, which acted as adviser to the State in the sale of Irish Life, that the price earnings...

Written Answers — Department of Finance: Banks Recapitalisation (5 Mar 2013)

Michael Noonan: The Deputy will be aware that the State injected €875m of capital into the EBS Building Society (EBS) in order for it to meet regulatory requirements. Of this total amount, €625 million was by way of two separate subscriptions for Special Investment Shares, while €250 million was provided by means of a Promissory Note. The terms of the EBS Promissory Note provide, inter...

Written Answers — Department of Finance: Credit Availability (5 Mar 2013)

Michael Noonan: The Red C survey of SME credit demand for the period April – September 2012 showed that 41% of SMEs which were approved or partially approved for credit were subject to a personal guarantee. This was the second most common condition with the need to provide regular management accounts/debtors & creditors listing to the bank being the most common requirement at 57%. This survey...

Written Answers — Department of Finance: NAMA Operations (5 Mar 2013)

Michael Noonan: I can advise that the directions to which the Deputy is referring were laid before the Houses of the Oireachtas by me on Monday, 4 March 2013. I am advised that, following this, NAMA also published the directions on Monday, 4 March 2013.

Written Answers — Department of Finance: Tax Forms (5 Mar 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that they do not hold paper records of the P60 or P45 for 1993 for the person concerned. However the Revenue Commissioners have extracted details of the pay, tax and PRSI for 1992/93 and 1993/94 for the person concerned from other records that they hold. These details were forwarded to the person concerned on 27th February 2013.

Written Answers — Department of Finance: Property Taxation Collection (5 Mar 2013)

Michael Noonan: I am informed 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: Consultancy Contracts (5 Mar 2013)

Michael Noonan: I can only reply in respect of my Department and the offices/agencies under the aegis of my Department. My Department has not provided any State contracts to Ernst and Young since 2011. Regarding offices/agencies under the aegis of this Department the position is as follows: National Asset Management Agency (NAMA) Year Value 2012 €195,478 2011 €6,907,285 Ernst &...

Written Answers — Department of Finance: Tax Collection (5 Mar 2013)

Michael Noonan: I am advised by the Revenue Commissioners that correspondence regarding this matter has been recently received in the Waterford Revenue Office and the matter is currently receiving attention. I am further advised that the issues that are covered by this correspondence are complex in nature and will best be resolved by further dialogue between the company, its agents and the Waterford Revenue...