Results 10,681-10,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: National Treasury Management Agency Remuneration (2 May 2013)

Michael Noonan: The NTMA’s administrative costs are charged to the Central Fund. They include costs of employment, professional fees, operating expenses and pension costs. The figure in the Exchequer Statement represents the amount of funding drawn from the Central Fund during the quarter to meet the NTMA’s administrative costs.

Written Answers — Department of Finance: Maternity Benefit Issues (2 May 2013)

Michael Noonan: It is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. In line with this principle, the majority of social welfare payments are reckonable as income for tax purposes. These include long-term payments such as Disablement Benefit, the State Pension, Widows, Invalidity and Blind Pensions, Carers Allowance and the One Parent Family...

Written Answers — Department of Finance: National Debt (2 May 2013)

Michael Noonan: The most recent General Government interest expenditure estimates covering the period 2014-2019 are set out in the table below. These figures are consistent with the estimates from the recently published Stability Programme Update (SPU). The SPU covers the period 2013-2016 primarily but also contains high level public finance forecasts for the years 2017-2019. Tables 17 and A3 of the SPU set...

Written Answers — Department of Finance: National Debt (2 May 2013)

Michael Noonan: The information requested by the Deputy is set out in the table below. As the Deputy’s question concerns the percentage of tax revenues used for interest expenditure, the figures in the table reflect national debt interest expenditure rather than general government interest expenditure. Expressing national debt interest expenditure as a percentage of tax revenues is a standard metric...

Written Answers — Department of Finance: Banking Sector Staff Issues (2 May 2013)

Michael Noonan: I propose to take Questions Nos. 59 and 60 together. As the Deputy will be aware the Relationship Framework with the bank provides that the State will not intervene in the day-to-day operations of the bank or their management decisions. These frameworks are published on the Department of Finance website. I must ensure that the bank is run on a commercial, cost effective and independent...

Written Answers — Department of Finance: Tax Code (2 May 2013)

Michael Noonan: The current rate of capital gains tax was set in Budget 2013 as part of an overall budgetary strategy to generate necessary additional tax revenue. An increase in the taxation of capital is preferable from the point of view of its impact on the economy to an increase in employment taxes such as income tax. Farmers who sell shares whether to ease financial difficulties or otherwise, are no...

Written Answers — Department of Finance: Carbon Tax Collection (2 May 2013)

Michael Noonan: I can confirm that the carbon tax for solid fuel applies to the first supply in the State of peat as a fuel.

Written Answers — Department of Finance: Departmental Funding (2 May 2013)

Michael Noonan: My Department has advised me that payments can only issue directly from the Central Fund (Exchequer) i.e. non-voted disbursements if there is a statutory basis for them and a credit has been granted by the Comptroller and Auditor General under the Comptroller and Auditor General (Amendment) Act, 1993. There is no statutory basis for a payment from the Central Fund for the matter referred to...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (2 May 2013)

Michael Noonan: The Central Bank of Ireland will set quarterly institution-specific performance targets for covered banks to move distressed borrowers onto longer-term solutions by the end of this quarter. The targets set will reflect Banks’ capacity, processes and systems. I should stress that the Credit Review process remains available to any SMEs whose credit has been reduced or withdrawn by the...

Written Answers — Department of Finance: Mortgage Interest Rates Issues (2 May 2013)

Michael Noonan: As the Deputy will be aware the Relationship Framework with the banks provides that the State will not intervene in their day-to-day operations or their management decisions. These frameworks are published on the Department of Finance website. I must ensure that the banks are run on a commercial, cost effective and independent basis to ensure the value of the banks as an asset to the State,...

Written Answers — Department of Finance: Mortgage Arrears Rate (2 May 2013)

Michael Noonan: I assume the Deputy is referring to the Central Bank's Economic Letter of 28 March 2013, on The Impact of the Financial Crisis on Banks' Net Interest Margins. As Minister for Finance, I have no statutory function in relation to setting interest rates by individual lending institutions. While the Government is acutely aware of the increasing financial stress that some households are facing in...

Written Answers — Department of Finance: Property Taxation Administration (2 May 2013)

Michael Noonan: A key aspect of the work undertaken by Revenue for the Local Property Tax (LPT) was the development of a comprehensive Register of residential properties in the State. The Register was developed using data drawn from a range of sources including Revenue’s own databases, the Local Government Management Agency (LGMA) database and data from utility companies. Data from the various...

Written Answers — Department of Finance: Budget 2014 Issues (2 May 2013)

Michael Noonan: Under the draft regulations known as the “two-pack” which are expected to be formally adopted in May or June, a common budgetary timeline is being introduced for all Euro area member states. In line with the requirements under the “two-pack” Budget day will be on the 15th of October this year. As the Budget date is moving forward, the Medium Term Fiscal...

Written Answers — Department of Finance: Bank Stress Tests (2 May 2013)

Michael Noonan: The matter is under discussion with the Troika at the present time and a decision has not yet been taken with regard to timing.

Written Answers — Department of Finance: Credit Unions Regulation (2 May 2013)

Michael Noonan: I propose to take Questions Nos. 70 and 71 together. I have been informed by the Registrar of Credit Unions that it has been necessary to put lending restrictions in place in credit unions where there are regulatory concerns about the operation of these individual credit unions and the resultant risk to members’ savings. The number of lending restrictions is a reflection of the...

Written Answers — Department of Finance: Excise Duties Yield (2 May 2013)

Michael Noonan: The breakdown in excise returns by alcohol in each category from 2009 to 2012 is as follows: - 2009 2010 2011 2012 Beer 404.3 320.1 307.3 308 Spirits 242.5 218.8 247.3 263.9 Wine 264.1 243.5 231 231.4 Cider 57.2 44 43.9 42.8 968.1 826.4 829.5 846.1 The level of excise duties on the various forms of alcohol is set out in the tables below: Effective from 15...

Written Answers — Department of Finance: Income Statistics (2 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the available historical data on the distribution of incomes by income ranges has been published for the tax years 2007, 2008, 2009 and 2010 in their Statistical Reports for 2009, 2010 and 2011 respectively and is available on the Revenue website at www.revenue.ie. The data is available in tables IDS1 to IDS 18 of the Income Distribution...

Written Answers — Department of Finance: Tax Yield (2 May 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information available on a geographical basis is an estimated breakdown of the net receipt from PAYE, VAT (Internal), Corporation Tax, Income Tax (non-PAYE) and Capital Gains Tax on the basis of "bailiwick" (meaning the jurisdiction or boundaries within which. Revenue Sheriffs, County Registrars or their officers operate for the...

Written Answers — Department of Finance: Tax Collection (2 May 2013)

Michael Noonan: This is a matter for the Revenue Commissioners. Firstly, I would like to briefly comment on Revenue’s approach to tax collection and in particular its overall compliance and debt management approach. Revenue has a strong focus on making sure that every individual and business complies with the responsibility to pay the right amount of tax or duty including interest and penalties,...

Written Answers — Department of Finance: Tax Credits (2 May 2013)

Michael Noonan: Sections 472A and 88A of the Taxes Consolidation Act 1997 provide tax incentives for both employees and employers, to help the long-term unemployed to return to employment. The relief under Section 472A, commonly known as the Revenue Job Assist scheme, allows qualifying employees, in addition to their normal tax credits, to claim certain income deductions, including additional deductions for...