Results 10,141-10,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: EU Budget (16 Apr 2013)

Michael Noonan: On 27 March 2013 the Commission made a proposal to amend EU budget 2013. This is the Commission's estimate of the total additional amount required to meet outstanding payment needs from 2012 along with expected payment claims arising in 2013. The amending budget proposal is currently under discussion within the Council of Ministers under the Irish Presidency and must be agreed by both the...

Written Answers — Department of Finance: Banking Sector Issues (16 Apr 2013)

Michael Noonan: The Deputy will be aware that the asset transfer to AIB's pension scheme was directly linked to the bank's Early Retirement and Voluntary Severance Programme and was essential for the bank to be able to fund these plans. All relevant disclosures in relation to AIB's deleveraging process are made as part of AIB's 2012 Annual Accounts published on 27th March 2013.

Written Answers — Department of Finance: Eurozone Crisis (16 Apr 2013)

Michael Noonan: I welcome that an agreement has been reached in relation to a programme for Cyprus. The fact that an agreement has been reached is important, as this will remove uncertainty and generate stability, for Cyprus, for the euro area and for Ireland. The programme will address the exceptional challenges that Cyprus is facing, with a view to restoring the viability of the banking sector, the...

Written Answers — Department of Finance: Ministerial Travel (16 Apr 2013)

Michael Noonan: In response to the Deputy's question I as Minister for Finance did not participate in this year’s overseas travel programme for St. Patrick's day.

Written Answers — Department of Finance: Revenue Commissioners Operations (16 Apr 2013)

Michael Noonan: The Department of Public Expenditure and Reform have advised my Department that the Revenue Commissioners, the Department of Justice and Equality and the Department of Public Expenditure and Reform are currently examining the feasibility of migrating the Revenue Commissioners' payroll function to the Department of Justice and Equality (Financial Shared Services Centre). They have also...

Written Answers — Department of Finance: Banking Sector Staff Issues (16 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 284 and 295 together. AIB has informed me that as part of the Bank's exit process, all early retirement and voluntary severance offers include a clause which precludes the staff member from being re-hired by AIB or any of its subsidiaries, either directly or indirectly through a third party. In the case of early retirement the restriction is open ended....

Written Answers — Department of Finance: Banking Sector Issues (16 Apr 2013)

Michael Noonan: Bank of Ireland have supplied the following information in response to the Deputy's question:- "Bank of Ireland reviews on an on-going basis how best to deliver products and services to its customers in an efficient, cost effective and empathetic manner. As a matter of policy Bank of Ireland, as a commercial organisation, does not make public comments on its commercial deliberations unless...

Written Answers — Department of Finance: Property Taxation Administration (16 Apr 2013)

Michael Noonan: The Inter-departmental group, chaired by Dr Don Thornhill, to consider the design of a property tax (the "Thornhill Group") recommended that the Local Property Tax (LPT) paid in respect of a rented property should be deductible for income tax or corporation tax purposes, in a similar manner to commercial rates. The Group recognised the considerable pressures on the public finances and the...

Written Answers — Department of Finance: Property Taxation Administration (16 Apr 2013)

Michael Noonan: The issues raised by the Deputy are primarily a matter for consideration by my colleague the Minister for the Environment, Community and Local Government. Section 10(1) of the Finance (Local Property Tax) Act (as amended) defines an "unfinished housing estate" as a development of two or more buildings that is specified in a list prescribed, under section 10(3) of the Act by the Minister for...

Written Answers — Department of Finance: Fuel Laundering (16 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 288 to 292, inclusive, together. It is an offence, under section 102 (as amended) of the Finance Act 1999, to use marked mineral oil as a propellant for a motor vehicle, or to keep it in the fuel tank of a vehicle. A person guilty of this offence is liable on summary conviction to a fine of €5,000. A trial judge may, in his or her discretion, mitigate...

Written Answers — Department of Finance: Property Taxation Administration (16 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 sets out how the tax is to be administered and how a residential property is to be valued for Local Property Tax (LPT) purposes. I am informed by the Revenue Commissioners that LPT is a self-assessed tax so in the first instance it is a matter for the property owner to calculate the tax due based on his or her assessment of the market value of the...

Written Answers — Department of Finance: Excise Duties Collection (16 Apr 2013)

Michael Noonan: Ireland, as with other countries, has experienced an increase in fuel prices. This increase is an international phenomenon. Fuel prices are driven by a number of factors including the price of oil on international markets, exchange rates, production costs and refining costs. The rise in oil prices over recent periods reflected additional factors such as geopolitical uncertainty in Northern...

Written Answers — Department of Finance: Fuel Laundering (16 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners, who are responsible for tackling fuel laundering, that Revenue and Her Majesty's Revenue and Customs (HMRC) are pursuing jointly a new and more effective fuel marker for common use in both jurisdictions. A Memorandum of Understanding setting out an indicative timeframe was agreed in 2012 by Revenue and HMRC and work on the project is proceeding. A...

Written Answers — Department of Finance: Mortgage Interest Relief Extension (16 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 297 and 304 together. The position is that mortgage interest relief is available in respect of interest paid on qualifying loans taken out on or after 1 January 2004 and on or before 31 December 2012 and such relief applies up to and including the tax year 2017. Mortgage interest relief is available, at varying rates and subject to certain ceilings, in...

Written Answers — Department of Finance: Tax Rebates (16 Apr 2013)

Michael Noonan: Gains on the sale of shares are subject to Capital Gains Tax (CGT). I am informed by the Revenue Commissioners that the taxpayer was granted an exemption in relation to the first €1,270 of annual gain. The taxpayer's overall level of income is not taken into account in relation to Capital Gains Tax, and it appears from Revenue's records that there is no basis for a tax rebate in this...

Written Answers — Department of Finance: Ministerial Allowances (16 Apr 2013)

Michael Noonan: Section 836 of the Taxes Consolidation Act provides for a tax deduction under section 114 of the Taxes Consolidation Act 1997 in respect of the cost of maintaining a second residence where, arising out of the performance of his or her duties, a Minister or a Minister of State is obliged to maintain that second residence in addition to his or her main residence. The allowance is confined to...

Written Answers — Department of Finance: Pension Provisions (16 Apr 2013)

Michael Noonan: An Approved Minimum Retirement Fund (AMRF) is converted to an Approved Retirement Fund (ARF) either on attaining age 75, on satisfying the specified lifetime income requirement or on death. Since enactment of the Finance Act 2013 on 27 March 2013, that specified income requirement has reverted back to €12,700 from a previous figure of 1.5 times the maximum annual rate of State Pension...

Written Answers — Department of Finance: IBRC Liquidation (16 Apr 2013)

Michael Noonan: There are standard rules which apply to the distribution of the assets of companies in liquidation and it would not be appropriate for me to interfere with these rules by way of the use of Section 9 of the Irish Bank Resolution Corporation Act 2013 or otherwise. Such interference could have the impact of diverting the assets of IBRC from one category of creditor to another outside the normal...

Written Answers — Department of Finance: Property Taxation Administration (16 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) 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 will be 1 May 2013 for the year 2013. A key aspect of the work undertaken by Revenue was the development of a comprehensive Register of residential...

Written Answers — Department of Finance: Foreign Earnings Deduction (16 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that their published practice, in relation to foreign rental property states that a property or ownership tax cannot be claimed as a deduction or a credit against any Irish tax liability arising on rents arising from the letting of foreign property. All the relevant details can be found on the Revenue website . Taxable rental income from foreign...