Results 10,881-10,900 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Administration (14 May 2013)

Michael Noonan: I propose to take Questions Nos. 176 and 219 together. The Revenue Commissioners have responsibility for all administration, collection, enforcement and audit aspects of the Local Property Tax (LPT). The Ministers and Secretaries (Amendment) Act 2011 puts the independence of the Revenue Commissioners in the performance of their functions on a fully statutory basis. As I have indicated...

Written Answers — Department of Finance: Income Statistics (14 May 2013)

Michael Noonan: As requested by the deputy I have been provided by the Revenue Commissioners with reformatted tables of projected income levels and numbers of income earners for the income tax years 2011 and 2012 and these are as follows. The design of these tables is consistent with the format of the “Totals” section of Table IDS 1 in the “Income Distribution Statistics”...

Written Answers — Department of Finance: Pension Provisions (14 May 2013)

Michael Noonan: I propose to take Questions Nos. 178, 187 and 211 together. I can confirm that the three covered institutions responded with their individual strategies by the due date of 30 April as requested by the Government. All three institutions have put forward pension changes to varying degrees as part of their respective overall responses. I am constrained as to what I can say due to...

Written Answers — Department of Finance: Banking Sector Issues (14 May 2013)

Michael Noonan: While the Government is acutely aware of the increasing financial stress that some households are facing in the current environment, ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial matter for the management and the Board of the Institution. As the Deputy will be aware the Relationship Framework with AIB provides that the State...

Written Answers — Department of Finance: Tax Clearance Certificates (14 May 2013)

Michael Noonan: A Tax Clearance Certificate is a written confirmation from Revenue that a person's tax affairs are in order at the date of issue of the Certificate. As the Deputy has noted, the requirement to produce a Tax Clearance Certificate usually arises in the context of a person seeking State money, e.g. Government contracts or grants. They can also be required when obtaining licences, e.g. an excise...

Written Answers — Department of Finance: Property Taxation Exemptions (14 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that Section 10B of the Finance (Local Property Tax) Act 2012, as amended, provides that a permanently and totally incapacitated person is exempt from payment of LPT where the property is occupied as his/her sole or main residence and where he/she has received a personal injury compensation or is a beneficiary under a qualifying trust. If the...

Written Answers — Department of Finance: International Financial Services Centre (14 May 2013)

Michael Noonan: It is difficult to clearly demarcate which banks participate in international financial services activity based solely on location in the International Financial Services Centre. Fifteen banking licences were revoked by the Central Bank since 2010. These are set out below. All of the revocations were at the request of the banks. The rationale for the revocation is a commercial decision for...

Written Answers — Department of Finance: Tax Yield (14 May 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. In addition, the income tax liability for this cohort it is estimated at €5,077 million which represents 44% of the expected income tax yield in 2013. Numbers are rounded to the nearest...

Written Answers — Department of Finance: Marked Gas Oil (14 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that marked gas oil may be used in agricultural tractor and trailer combinations regardless of the purpose for which these vehicles are being used. The question of the use of such vehicles for the general carriage of goods by road for hire or reward is a matter for the Minister for Transport, Tourism and Sport.

Written Answers — Department of Finance: Pension Schemes (14 May 2013)

Michael Noonan: As the Deputy will be aware the pension arrangements for the staff of Permanent TSB are a matter for the management of that company and for the trustees of the relevant pension schemes. I understand that the proposal by the company to the trustees concerning the defined benefit pension schemes may be referred to the Labour Court although that would be an issue for the various interested...

Written Answers — Department of Finance: Property Taxation Collection (14 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that, from the information provided by the Deputy, the payment option in question is most likely the ‘once off’ debit instruction that allows customers pay the liability in full on 21 July 2013. This option also includes the flexibility for customers to make the payment earlier than 21 July if they so wish by inputting a specific date....

Written Answers — Department of Finance: Budget 2014 Issues (14 May 2013)

Michael Noonan: Under the Excessive Deficit Procedure a maximum General Government deficit of 5.1% of GDP is allowed for 2014. The consolidation path as set out in the Medium Term Fiscal Statement, published in November 2012, contained an adjustment of €3.1 billion to be implemented in 2014 which is consistent with achieving the target. However, as the Deputy is aware, there have been a number of...

Written Answers — Department of Finance: Bank Debt Restructuring (14 May 2013)

Michael Noonan: I propose to take Questions Nos. 189 to 192, inclusive, together. The Special Liquidators have informed me that they are not in a position to comment on individual cases. I have been advised that the information requested is confidential and that it would not be appropriate for the Special Liquidators to release such information.

Written Answers — Department of Finance: IBRC Liquidation (14 May 2013)

Michael Noonan: As previously advised, independent third parties are being engaged to independently value the loan assets of IBRC (in Special Liquidation). There is an obligation on the Special Liquidators to ensure that assets of IBRC are sold at a price that is equal to or in excess of the independent valuations that are being obtained. A process is currently being finalised that ensures that maximum...

Written Answers — Department of Finance: NAMA Expenditure (14 May 2013)

Michael Noonan: Rating agency costs relating to NAMA are, in the main, paid by the NTMA as part of its overall sovereign rating programme. NAMA directly bears the cost arising from the rating of NAMA Bonds by Dominion Bond Rating Service (DBRS). NAMA advises that the terms of its agreement with DBRS are commercially sensitive and of a confidential nature.

Written Answers — Department of Finance: Financial Services Sector Remuneration (14 May 2013)

Michael Noonan: I am informed by the Central Bank that the salary of the current Deputy Governor (Financial Regulation), Matthew Elderfield, is €340,000 per annum which represents a reduction of 15% on his original salary of €400,000 on his appointment in January 2010. The Central Bank’s Annual Report for 2010 shows that in 2010, the Deputy Governor also received a fully taxable...

Written Answers — Department of Finance: Banking Sector Issues (14 May 2013)

Michael Noonan: Allied Irish Banks (AIB) announced on 24 April 2013 that the annual cash dividend of €280 million on the €3.5 billion 2009 Non Cumulative Preference Shares held by the National Pensions Reserve Fund Commission (NPRFC) on behalf of the Irish State, due 13 May 2013 will not be paid. As a result AIB becomes obliged to issue and allot ordinary shares to the NPRFC in accordance with...

Written Answers — Department of Finance: Banks Recapitalisation (14 May 2013)

Michael Noonan: The recapitalisation of Allied Irish Banks (“AIB”) was effected through the National Pensions Reserve Fund Commission (“NPRFC”). Section 15A(4) of the National Pensions Reserve Fund Act 2000 (the “Act”, inserted by the Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009) provides that nothing done on behalf of the...

Written Answers — Department of Finance: Banking Licence Applications (14 May 2013)

Michael Noonan: The total number of credit institutions registered in Ireland is 437. A full list of authorised credit institutions is available on the Central Bank website at .It is difficult to clearly demarcate which banks participate in international financial services activity based solely on location in the International Financial Services Centre. The Central Bank has identified the key international...

Written Answers — Department of Finance: Central Bank of Ireland Issues (14 May 2013)

Michael Noonan: The Deputy will appreciate that the Central Bank is not in a position to disclose or discuss the details of its security model or operations. However, security operations are reviewed regularly to ensure they operate to current best practices and in the most effective and efficient manner. In addition, as is the case with all business operations, in the event that there were to be any...