Results 10,301-10,320 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Sector Issues (23 Apr 2013)

Michael Noonan: The Deputy may be aware that I have recently written to Bank of Ireland, along with the other domestic Banks that have received State investment, instructing them to respond by the end of April outlining their strategy to deliver savings of 6%-10% of total remuneration costs. I do not consider it appropriate to endorse the Director’s Remuneration at Bank of Ireland in advance of...

Written Answers — Department of Finance: Tax Yield (23 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the yield recovered under the Trusts and Offshore Structures investigation to the end of 2012 is €46.66m from 351 persons. The investigation commenced on 1 September 2009 and a qualifying disclosure initiative was launched within the parameters of the Code of Practice for Revenue Audit. This initiative required persons with undeclared...

Written Answers — Department of Finance: IBRC Liquidation (23 Apr 2013)

Michael Noonan: I have been informed that should a bid be received for a loan that is not equal to or in excess of the independent valuation received, the loan will transfer at the valuation amount to NAMA. Work in relation to the sale and transfer of loans to third parties is on-going. The Special Liquidators are unable to comment at this time as to when this work will be completed.

Written Answers — Department of Finance: IBRC Liquidation (23 Apr 2013)

Michael Noonan: The Special Liquidators have confirmed that fee notes have not yet been issued by them in relation to the liquidation of IBRC.

Written Answers — Department of Finance: Pension Provisions (23 Apr 2013)

Michael Noonan: As the Deputy will be aware all the staff pension schemes within the Covered Institutions are separate entities set up under Trust and managed by Trustees and the individual circumstances and issues arising can vary widely between the institutions. The level of benefits payable under each scheme reflects the historical nature of the scheme and its funding position. It is a matter for the...

Written Answers — Department of Finance: European Financial Stability Facility (23 Apr 2013)

Michael Noonan: At the Ecofin and Eurogroup meetings in Dublin earlier this month, EU and Euro-area Finance Ministers agreed in principle, subject to national procedures, to lengthen the maturities of the EFSF and EFSM loans to Ireland and Portugal by increasing the weighted average maturity of the loans by 7 years. This is also conditional on continued successful programme implementation being confirmed by...

Written Answers — Department of Finance: Property Taxation Administration (23 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) 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. The Act also provides that owners of multiple properties must file their LPT returns online. A key aspect of the work undertaken by Revenue was the development of...

Written Answers — Department of Finance: Banking Sector Regulation (23 Apr 2013)

Michael Noonan: Where the ownership of a financial institution is in the form of shares quoted on a stock exchange it would be open to a person as described by the Deputy to purchase shares in that financial institution. However the Deputy may be interested to note that in certain cases the Central Bank’s prior approval is required where an individual or legal entity seeks to undertake an acquiring...

Written Answers — Department of Finance: Tax Yield (23 Apr 2013)

Michael Noonan: The Department of Finance has a publicly available databank on its website with comprehensive tax data where information on annual yields can be found (http://databank.finance.gov.ie/). For information, the following table lists the annual amounts of VAT receipts received over the period 2009-2012. 2009 €million 2010 €million 2011 €million 2012* €million...

Written Answers — Department of Finance: Banking Sector Remuneration (23 Apr 2013)

Michael Noonan: I have noted the points made in the correspondence supplied. I share the frustrations outlined both on individual and collective levels that our citizens are now experiencing – in many cases not resulting from their own actions. Furthermore, I stated in my previous reply, (ref no. 14807/13 of 26th Mar 2013) I acknowledge the sacrifices and changes made by bank employees to date at...

Written Answers — Department of Finance: Departmental Staff Remuneration (23 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 244 and 245 together. The following table sets out the salary bands in respect of my Department. Earnings Band Number of employees 0-10K 26 10-20K 19 20-30K 72 30-40K 72 40-50K 40 50-60K 36 60-70K 3 70-80K 34 80-90K 33 90-100K 10 100-115K 9 125-150K 6 150K-200K 2 200K-250K 1 The Revenue Commissioners have provided me with the...

Written Answers — Department of Finance: Tax Collection Forecast (23 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the number of income earners earning gross income in excess of €100,000, estimated by reference to projected incomes for 2013, is 108,700. It is assumed that the Deputy is referring to the introduction of a third rate of income tax of either 42%, 43%, 46% or 51% to be applied on the portion of taxable incomes in excess of €100,000...

Written Answers — Department of Finance: Property Taxation Collection (23 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that Local Property Tax (LPT) can be paid through three different approved payment service providers - An Post TaxPay, Payzone and Omnivend. The appointed service providers have extensive nationwide outlets and can process payment of LPT either in full as a single payment or by phased payments on a weekly or monthly basis as best suits individual...

Written Answers — Department of Finance: Universal Social Charge Payments (23 Apr 2013)

Michael Noonan: The Universal Social Charge (USC) was introduced in Budget 2011 and replaced the Health Levy and the Income Levy. It is a more equitable charge and has a wider base and a lower rate when compared to the combined impact of the Income and the Health Levies. Tax revenues are not generally assigned to particular areas of expenditure. Rather they are available, along with non-tax revenues,...

Written Answers — Department of Finance: Mortgage Arrears Proposals (23 Apr 2013)

Michael Noonan: The Central Bank’s Code of Conduct on Mortgage Arrears applies to mortgage lending activities with borrowers in respect of their principal private residence in the State. Compliance with the Code is mandatory on all mortgage lenders regulated by the Central Bank. The Code provides a number of protections to borrowers. These include the establishment of a formal Mortgage Arrears...

Written Answers — Department of Finance: Property Taxation Application (23 Apr 2013)

Michael Noonan: The Deputy will be aware that I have dealt comprehensively with previous Parliamentary Questions and Topical Debates from herself and from other public representatives on the question of property valuation for LPT purposes. I have sought to re-assure property owners by publicly stating on numerous occasions that where they make their property valuation in an honest and reasonable manner,...

Written Answers — Department of Finance: Mortgage Arrears Proposals (23 Apr 2013)

Michael Noonan: The Government is very aware of the significant difficulties some homeowners are facing in meeting their mortgage obligations and it is committed to advancing appropriate measures to assist those mortgage holders who are experiencing real and genuine difficulty. Building on the 2011 ‘Keane Report’, the Central Bank, under its MARS project, has for some time been intensively...

Written Answers — Department of Finance: NAMA Portfolio Issues (23 Apr 2013)

Michael Noonan: NAMA advises that detail on the breakdown, by county, of the value of property securing NAMA’s loans is provided in its Annual Reports and Financial Statements for 2011, which is available on the NAMA website, www.nama.ie. Properties under the control of receivers or other insolvency professionals appointed by NAMA are listed on its website at...

Written Answers — Department of Finance: Tax Code (23 Apr 2013)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. The reduced VAT rate of 13.5% applies to the supply of gas and electricity in Ireland. The majority of EU Member States apply a much higher VAT rate to the supply of gas and electricity as EU VAT law provides that the standard VAT rate should apply to these services....

Written Answers — Department of Finance: Tax Collection (23 Apr 2013)

Michael Noonan: The Revenue Commissioners are committed to making it as easy as possible for all taxpayers to meet their tax compliance obligations. All taxpayers are afforded the opportunity to pay their outstanding tax liabilities before any such liabilities are referred for collection enforcement action. In the event that it is necessary to refer outstanding tax debts to the Sheriff for collection, I am...