Results 10,561-10,580 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Appointments to State Boards (30 Apr 2013)

Michael Noonan: Section 57BC of the Central Bank and Financial Services Authority Act 2004 provides for the establishment of the Financial Services Ombudsman Council. The current term of the Financial Services Ombudsman Council’s members will expire on 28 October 2013. In line with Government Decision S180/20/10/1424, I will invite expressions of interests in advance for any vacancies for members...

Written Answers — Department of Finance: Property Taxation Administration (30 Apr 2013)

Michael Noonan: I am advised by Revenue that customers can email Local Property Tax (LPT) queries to a dedicated email address at: lpt@revenue.ie. This email address is published on the Revenue website www.revenue.ie. Individuals with queries on submission of the 2013 LPT return are advised to use the telephone helpline on 1890 200 255. Revenue strives to respond to all correspondence including email as...

Written Answers — Department of Finance: Official Engagements (30 Apr 2013)

Michael Noonan: As Minister for Finance, I am very conscious of the importance of effectively communicating information about the Department’s activities and of improving levels of transparency and accountability. Transparency is one of the guiding principles as set out in our revised Statement of Strategy. With this in mind, the Department has already published the Secretary General’s diary...

Written Answers — Department of Finance: Mortgage Arrears Rate (30 Apr 2013)

Michael Noonan: I am informed by the Central Bank that setting and monitoring targets in this area is the responsibility of the Deputy Governor (Financial Regulation) of the Bank who will delegate operational responsibility to the Director, Credit Institutions & Insurance Supervision and the Divisional Supervisory teams.

Written Answers — Department of Finance: Banking Sector Remuneration (30 Apr 2013)

Michael Noonan: I have received the following response from Bank of Ireland:- “Many years ago, certain non-executive directors received pensions from the Group. The amount shown in the 2012 Group accounts relates to the pension payments to the small residual number (10) of beneficiaries of such arrangements. The majority of the beneficiaries are in their late 80’s or early 90’s....

Written Answers — Department of Finance: Banking Sector Issues (30 Apr 2013)

Michael Noonan: The Deputy is aware that I have no role in the day-to-day commercial and operational decisions of Bank of Ireland. These decisions are taken by the board and management of the institution. Notwithstanding the fact that the State is a minority shareholder in Bank of Ireland, I must ensure that the bank is run on a commercial, cost effective and independent basis to ensure the value of the bank...

Written Answers — Department of Finance: IBRC Liquidation (30 Apr 2013)

Michael Noonan: I am not aware of any inconsistency in my response of 16 April last. The debt purchased by NAMA from the Central Bank is a claim debt secured by a floating charge over the assets of IBRC. The sales proceeds received through the sale of the Company’s assets will be used to repay the creditors of the Company subject to the normal legal priorities, as set out in the Companies...

Written Answers — Department of Finance: NAMA Loans Sale (30 Apr 2013)

Michael Noonan: I am advised by NAMA that approaches by third parties in relation to possible loan sales are dealt with expeditiously by reference to the complexity of the offer received and the debtor connection and loan portfolio in question. In assessing any loan purchase offer, NAMA’s key criterion is whether the proposed transaction makes financial sense for the taxpayer. If so, and if NAMA...

Written Answers — Department of Finance: Banking Sector Regulation (30 Apr 2013)

Michael Noonan: The Central Bank (CBI) has informed me that where a bank’s operations in this country are conducted under a licence granted by a regulator in another country (e.g. the UK in this example), the CBI does not have the prudential powers to set problem loan provisioning rules for that bank The Central Bank’s Code of Conduct on Mortgage Arrears applies to mortgage lending activities...

Written Answers — Department of Finance: Banking Sector Issues (30 Apr 2013)

Michael Noonan: I submit the table showing the reconciliation between the net €3.2bn investment position in Bank of Ireland and the net cash position taking into account ELG fees recently received (Q4 2012) and the preference coupon received in February 2013. Bank of Ireland – Reconciliation of State’s net cash position - €bn Net Investment Position Adjustments to get an...

Written Answers — Department of Finance: State Banking Sector (30 Apr 2013)

Michael Noonan: I am advised by the National Treasury Management Agency, as manager of the NPRF that as at 31 March 2013 the Fund’s holding of preference shares in Bank of Ireland was valued at €1.7 billion, which is 92% of par. This value is consistent with the preliminary basis for valuation applied as at 31 December 2012. The final year end valuation will be reflected in the Fund’s...

Written Answers — Department of Finance: Tax Yield (30 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the net receipt of Capital Acquisitions Tax in 2012 was €283.2 million and a breakdown of that amount is as follows: - Amount €m % of total % Discretionary Trusts 2.9 1.0 Inheritance tax 254.3 89.8 Gift tax 25.8 9.1 Probate 0.2 0.1 Total 283.2 100.0

Written Answers — Department of Finance: Tax Yield (30 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that, as information on the value of capital gains arising from the disposal of principal private residences is not required in capital gains tax returns, there is no dedicated basis for separately identifying the yield that would arise from applying capital gains tax to sales of principal private residences. Accordingly, the specific information...

Written Answers — Department of Finance: Tax Avoidance Issues (30 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that Audit activity yielded €359m from 9,066 audit interventions. 154,952 risk management interventions, including in the PAYE sector, yielded €111m, and 373,803 assurance checks brought the total yield to €492m in 2012. These figures include results arising from a very specific focus on cash businesses including: Construction:...

Written Answers — Department of Finance: Tax Yield (30 Apr 2013)

Michael Noonan: It is assumed that the threshold for the proposed new tax rate mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. On that basis, I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2013 incomes, of the introduction of...

Written Answers — Department of Finance: Tax Yield (30 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the full year yield to the Exchequer, estimated in terms of expected 2013 gains, from increasing the CGT tax rate from 33% to 40% could be in the region of €109 million. This figure includes corporate gains. However, this estimate assumes no behavioural changes on the part of taxpayers, and increases in rates may have a significant...

Written Answers — Department of Finance: Tax Yield (30 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer from increasing the Capital Acquisitions Tax rate by 7% to 40 %, based on the expected outturn in 2013, could be in the region of €63 million, assuming no change in the existing thresholds. The current group tax free threshold amounts for Capital Acquisitions Tax (CAT) are: €225,000...

Written Answers — Department of Finance: Tax Yield (30 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that figures are not captured in such a way as to provide a dedicated basis for compiling estimates of the impact on the Exchequer from the measure proposed in this question. Accordingly, the specific information requested by the Deputy is not available.

Written Answers — Department of Finance: Tax Reliefs Cost (30 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the deductions and reliefs which are allowable for tax at an individual’s marginal rate of income tax and for which estimates of cost can be provided are set out in the table together with estimated costs for the year 2009, the most recent year for which the necessary estimates are available. If relief for these deductions and reliefs was...

Written Answers — Department of Finance: Tax Reliefs Cost (30 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 183 and 187 together. I am advised by the Revenue Commissioners that the total identifiable costs to the Exchequer which are currently available relate to income tax and corporation tax allowances, reliefs, exemptions and tax credits available as set out in the following tables for 2008 and 2009, the most recent year for which the necessary detailed...