Results 11,501-11,520 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Disabled Drivers Grant Eligibility (27 Jun 2013)

Michael Noonan: Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No. 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994) (as amended) provide for permanent relief from the payment of specified maximum amounts of VAT and VRT for persons registered under the scheme. The disability criteria for eligibility for the tax concessions under this...

Written Answers — Department of Finance: Departmental Staff Numbers (27 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 92 and 93 together. In my Department, 12 staff members availed of the shorter working year scheme (SWYS) during 2012. The duration of the leave ranged from 2 weeks to 13 weeks as provided for in Circular 14/2009 - Shorter Working Year Scheme which superseded the term time circular. This circular is available on www.per.gov.ie 22 staff members have...

Written Answers — Department of Finance: Departmental Staff Training (27 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 94 and 95 together. In my Department, 13 staff availed of paid study leave in 2012. The average number of days taken was 4.92 days. At present it is envisaged that 22 people may take paid study leave in 2013. This figure is subject to change. Employees continue to receive their salary while on study leave. The National Treasury Management Agency...

Written Answers — Department of Finance: VAT Rates Reductions (27 Jun 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the full year cost of reducing the standard rate of VAT from 23% by 1.5% to 21.5% is estimated at €380 million. Any changes to the VAT rates in 2014 will be considered in the context of the forthcoming Budget.

Written Answers — Department of Finance: VAT Rebates (27 Jun 2013)

Michael Noonan: I am informed by the Revenue Commissioners that Section 92 of the Finance Act 1989 and the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (S.I.353 of 1994) provide for permanent relief from the payment of specified maximum amounts of VAT and VRT for persons registered under the scheme. The person (details supplied) submitted an invoice in respect of the purchase...

Written Answers — Department of Finance: Pensions Levy Issues (27 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 98 and 99 together. In my Budget 2013 speech, I made a point of confirming that the pension fund levy introduced as part of the Jobs Initiative will not be renewed after 2014. The pension fund levy introduced in 2011 and the public service Pension-Related Deduction (PRD) introduced in 2009 are two entirely different charges which apply in different...

Written Answers — Department of Finance: Tracker Mortgage Numbers (27 Jun 2013)

Michael Noonan: Firstly, I must confirm to the Deputy that lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. It is not appropriate for me, as Minister for Finance, to comment on or become involved in the detailed mortgage position of mortgage holders. I have been advised by the Central Bank that there are no statistics...

Written Answers — Department of Finance: Tax Code (27 Jun 2013)

Michael Noonan: I am advised by the Revenue Commissioners that in broad terms retirement relief is a relief given to an individual on the disposal of all or part of the qualifying assets of his business. Section 599 Taxes Consolidation Act 1997 provides that where an individual who is at least 55 years of age makes a disposal to his or her child of all or part of the individual’s qualifying business...

Written Answers — Department of Finance: VAT Rates Application (27 Jun 2013)

Michael Noonan: With regard to the reintroduction of the groceries order on alcohol, I am informed by the Minister for Jobs, Enterprise and Innovation that prices in Ireland are generally not subject to control. Pricing strategies are therefore a matter for individual retailers and licensees and are the normal outcome of the competitive process. In this respect, I understand that the Minister for Jobs,...

Written Answers — Department of Finance: Property Taxation Data (27 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 103 and 104 together. As I indicated to the House this week in my response to Parliamentary Question No. 191 of 25 June (30191/13) the Revenue Commissioners have confirmed that LPT Returns are still being filed and payments are still being made, and these are currently being processed. It will not be possible to deal with requests for information on...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

Michael Noonan: I wish to read something into the record to enable Report Stage amendments to be taken later on. The Minister of States, Deputy Brian Hayes, on Second Stage flagged the fact I would table an amendment to the Central Bank Act 1971 to provide an authorisation regime for branches of third country banks. These branches would be subject to the same standards of regulation as those branches...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

Michael Noonan: The effect of amendment No. 7 would be to include the following within the definitions of financial service provider and related undertaking: Auditors, accountants, pension fund trustees, building societies, debt collection agencies, moneylenders and other financial services as determined by the bank. The remaining amendments in this group delete a number of references to the word...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

Michael Noonan: It is Part 4 not section 4.

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

Michael Noonan: I agree with the sentiments expressed by the Senator. The days of light-touch regulation are long since behind us and it was a mistake that they ever were brought in. The former Minister for Justice, Equality and Law Reform, Michael McDowell, chaired the particular committee which gave rise to the recommendations. One had this movement stating that because bankers were members of such a...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

Michael Noonan: Amendment No. 14 in the name of Senator Barrett seeks to include computer records, tapes and other recordings in the definition of "record". Section 2 of the Central Bank Act 1942 defines "record" as follows: 'record' means any record of information, however compiled, recorded or stored, and includes--(a) any book, a register and any other document containing information, and (b) any disc,...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

Michael Noonan: The Bill already moves into the space where the Senator indicates it should go while, at the same time, allowing the Irish Auditing and Accounting Supervisory Authority to be the primary regulator of auditors and accountants. Amendments Nos. 15 and 19 seek to make the Central Bank responsible for setting standards for auditors or financial service providers. As I stated in response to an...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

Michael Noonan: Amendment No. 16 seeks to require the Central Bank to publish in its annual report a statement of the employment status of persons reporting breaches and a statement of the reforms undertaken by the body in respect of which the report of breaches was made. It is important that the identity of those reporting breaches is protected to the greatest extent possible. For that reason the Bill...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

Michael Noonan: I look forward to discussing this again on Report Stage if the Senator frames an amendment. The Minister for Public Expenditure and Reform is introducing comprehensive legislation in the area of whistleblowing. The protections in this Bill may need to be examined in respect of that Bill because we need to align procedures between the two Bills. I will examine it in context of the Bill of...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

Michael Noonan: Amendment No. 17 seeks to provide for redress of up to three times the amount of the loss incurred by persons affected. The purpose of redress is not to punish the financial service provider but to ensure that the person affected is put back to the position he or she would have been in had the incident not occurred. That is not to say that a financial service provider could not be the...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

Michael Noonan: The amendment seeks to require the Central Bank to consult with the Competition Authority and the National Competitiveness Council on the impact of the proposed regulations affecting the pillar banks on the non-banking economy. Section 49 already allows for the Central Bank to consult any entity it considers appropriate so the consultation envisaged by the Senator is already allowed for in...