Results 11,021-11,040 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Collection (21 May 2013)

Michael Noonan: I am informed by the Revenue Commissioners that Local Property Tax (LPT) Returns, personalised letters and an LPT Guide have issued to owners of 1.66 million residential properties either by post or by way of their ROS (Revenue Online Service) inbox. The Commissioners have confirmed that in excess of 948,522 LPT Returns have been filed up to close of business on Monday, 20 May 2013. This...

Written Answers — Department of Finance: NAMA Social Housing Provision (21 May 2013)

Michael Noonan: NAMA advises that it has identified in excess of 4,000 residential properties controlled by its debtors and receivers as being available for the provision of social housing. This represents a very substantial contribution by NAMA in the context of the limited number of available residential properties in Ireland controlled by its debtors and receivers and the range of policy measures being...

Written Answers — Department of Finance: Tax Reliefs Application (21 May 2013)

Michael Noonan: Section 14 of Finance Act 2012 introduced the Special Assignee Relief Programme which is designed to reduce the cost to employers of assigning key individuals in their companies from abroad to take up positions in the Irish based operations of their employer. Paragraph 10 of Section 14 provides that relevant employers must submit an annual return to the Revenue Commissioners detailing, inter...

Written Answers — Department of Finance: Economic Policy (21 May 2013)

Michael Noonan: I have not met the Group referred to by the Deputy. On 12 March 2012 I wrote to Mr Diarmuid O’Flynn, a member of the group referred to by the Deputy. In that letter I made the following points to Mr O’Flynn: 1. Reputation, reliability and commitment were essential elements to regaining our financial independence and that reneging on senior debt would not enhance the Irish...

Written Answers — Department of Finance: Financial Services Sector (21 May 2013)

Michael Noonan: Financial vehicle corporations (FVCs) are undertakings which are constituted pursuant to national or EU Law and whose principal activity meets both of the following criteria: - to carry out securitisation transactions which are insulated from the risk of bankruptcy or any other default of the originator; - to issue securities, securitisation fund units, other debt instruments and/or...

Written Answers — Department of Finance: Banking Sector Remuneration (21 May 2013)

Michael Noonan: The Deputy will be aware that AIB has previously confirmed that it has written to former senior executives of both AIB and EBS Limited requesting a voluntary reduction in their pension levels. The Bank has informed me that is not disclosing the names of these individuals on confidentiality grounds, but that it has to date issued approximately forty letters. AIB is not in a position to...

Written Answers — Department of Finance: Euro Coins Production (21 May 2013)

Michael Noonan: In 2011, I requested that the Central Bank examine ways to improve Ireland’s payment infrastructure. The Central Bank established a Steering Committee which prepared and submitted the National Payments Plan to me. Government subsequently approved the plan in April 2013. The National Payments Plan will target improving consumer payments systems and increasing the efficiency of the use...

Written Answers — Department of Finance: Mortgage Resolution Processes (21 May 2013)

Michael Noonan: The Central Bank has advised that in the context of its publication of performance targets for borrowers in arrears over 90 days, in determining whether a proposal constitutes a sustainable solution, the lender needs to evaluate both actual and prospective affordability for the borrower’s affordability and the capital implications for the credit institutions in terms of their...

Written Answers — Department of Finance: EU-IMF Programme of Support Issues (21 May 2013)

Michael Noonan: As the Deputy is aware, the EU-IMF Programme of Financial Support is envisaged to run to the end of 2013. The Government’s focus is now firmly fixed on exiting from the programme. It is the Government’s intention to achieve a successful and durable exit from our programme and we are doing all we can to this end. We continue to meet our programme conditions and our strong...

Written Answers — Department of Finance: Counterfeit Goods (21 May 2013)

Michael Noonan: Counterfeit goods are a worldwide problem and represent a serious threat to legitimate businesses. In addition, they defraud customers who unknowingly buy them, and can pose health and safety risks. The Revenue Commissioners are responsible for acting against the importation of counterfeit goods into the State from outside the EU. I am advised that Revenue made a total of 5,580 seizures of...

Written Answers — Department of Finance: Mortgage Arrears Rate (21 May 2013)

Michael Noonan: The covered institutions have provided me with the following information: AIB All relevant disclosures in relation to AIB's mortgage portfolios, including arrears data and tracker mortgages, for December 2012 are made on page 88 to 111 of AIB's 2012 Annual Accounts published on 27th March 2013. AIB currently exceeds the minimum regulatory capital requirements of 10.5% as set out by the...

Written Answers — Department of Finance: Real Estate Investment Trusts (21 May 2013)

Michael Noonan: The legislation introducing a tax framework for Real Estate Investment Trusts (REITs) was signed into law on 27th March in Finance Bill 2013. The future development of Irish REITs will depend very much on market response to the product, so it is not possible to state the number, if any, of REITs which will be introduced by the end of 2013. REITs by their nature are large collective...

Written Answers — Department of Finance: Central Bank of Ireland Issues (21 May 2013)

Michael Noonan: The responsibility for operational and security policies at the Central Bank is a matter for the Central Bank Commission and the Governor of the Bank. However I understand the Central Bank has entered into a contract with HP to provide the physical data centre environment to host its IT systems, manage the technical infrastructure aspects of these systems and provide hosting facilities at a...

Written Answers — Department of Finance: Export Statistics (21 May 2013)

Michael Noonan: I interact with all of my EU counterparts as part of my regular engagement at EU level. My most recent engagements at Eurogroup and ECOFIN on 13/14 May were part of this on-going and constructive dialogue. At the last meeting, the Eurogroup issued a statement welcoming the decision of the ESM to approve the first tranche of financial assistance to Cyprus on Monday 13 May in the context of...

Written Answers — Department of Finance: EU-IMF Programme of Support Issues (21 May 2013)

Michael Noonan: As the Deputy will be aware Ireland is in the final year of the EU-IMF Programme of Financial Support. The Programme is subject to a quarterly review by the three external partners, the European Commission, the ECB and the IMF (the Troika). Progress on the programme to date, and prospective future developments are discussed during these missions. The mission is the first stage in the...

Written Answers — Department of Finance: Derivatives Market (21 May 2013)

Michael Noonan: Trading in commodity derivatives, including food commodity derivatives, forms part of the regulation of derivatives. Regulation of derivatives has been part of the Councils discussions since September 2010, when the Commission published its proposal for the European Market Infrastructure Regulation (EMIR) to regulate this market in the context of over-the-counter (OTC) trades. The G20...

Written Answers — Department of Finance: EU Directives (21 May 2013)

Michael Noonan: Provisional agreement was reached with the European Parliament on the proposed Mortgage Credit Directive on the 22 April last with final agreement expected shortly. The proposed Directive was endorsed by the Council through the EU Member States' ambassadors at themeeting of the Permanent Representatives' Committee in Brussels on 8th May. Before its formal adoption it has to be voted on at...

Written Answers — Department of Finance: Equality Proofing of Budgets (21 May 2013)

Michael Noonan: Following my commitment to direct one of my political advisers to look at the Scottish model during the Finance Bill debate on March 6th 2013, preliminary research has been undertaken. I feel it is important to highlight to the Deputy that at present the Scottish Budgetary system has limited powers in relation to revenue-raising measures. Accordingly, the Scottish Equality Statement is...

Written Answers — Department of Finance: Tax Avoidance Issues (21 May 2013)

Michael Noonan: I assume the Deputy is referring to the High Court judgment delivered on the 5th February in Judicial Review proceedings taken by a taxpayer against the Revenue Commissioners. The background to the Judicial Review is that the taxpayer entered into what Revenue considers to be a tax avoidance scheme. The scheme involves the transfer of share rights and results ultimately in the extraction...

Written Answers — Department of Finance: European Council Meetings (21 May 2013)

Michael Noonan: The Eurogroup met on Monday 13th May and was chaired by the President of the Eurogroup Mr Jeroen Dijsselbloem. The President of Eurogroup speaks on behalf of Eurogroup and held a press conference after the meeting on Monday afternoon. The Eurogroup discussed a range of issues and released statements on Greece and Cyprus. The Ecofin Council met on 14th May 2013 and as Ireland holds the...