Results 12,201-12,220 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Pension Provisions (18 Sep 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. It would not be appropriate for me to comment on the implications for an individual arising out of any restructuring by Permanent TSB of its defined benefit pension schemes.

Written Answers — Department of Finance: IBRC Mortgage Loan Book (18 Sep 2013)

Michael Noonan: I am advised that the Special Liquidators of IBRC are maintaining contact with its mortgage holders and with the Central Bank (as part of its overall Mortgage Arrears Resolution Strategy (MARS) process) with a view to appropriately dealing with INBS mortgage holders in arrears on their mortgage. The Special Liquidators also confirm that the residential mortgage customers of IBRC (in...

Written Answers — Department of Finance: Tax Code (18 Sep 2013)

Michael Noonan: The Capital Acquisitions Tax (CAT) code includes gift tax, inheritance tax and discretionary trust tax. The tax is charged on the amount gifted to, or inherited by, the donee (the person receiving the gift/inheritance). There is a tax-free threshold (referred to as a ‘group threshold’), based on the relationship between the disponer (the person making the gift/leaving the...

Written Answers — Department of Finance: Fuel Laundering (18 Sep 2013)

Michael Noonan: I am advised by the Revenue Commissioners, who are responsible for the collection of mineral oil tax and for tackling the illicit trade in mineral oil products that, while the introduction of a quality assurance scheme for fuel is not a matter for them, Revenue regularly reminds motorists and the public generally that, in addition to its impact on the exchequer and legitimate trade, they...

Written Answers — Department of Finance: Mortgage Interest Rates Issues (18 Sep 2013)

Michael Noonan: Firstly, I must confirm to the Deputy that the lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities and, as such, it is a commercial decision for each lender to decide what products they will provide including switching mortgages and keeping tracker rates. It is not appropriate for me, as Minister for...

Written Answers — Department of Finance: Tobacco Control Measures (18 Sep 2013)

Michael Noonan: The introduction of plain packaging on tobacco products is a matter for the Department of Health. However, with regard to those matters to which you have referred which are under the remit of my Department, among the factors to be considered in the context of forthcoming proposals for amendment of the EU Tobacco Products Directive will be the requirement that all cigarettes that are...

Written Answers — Department of Finance: Public Liability Insurance (18 Sep 2013)

Michael Noonan: Neither my Department nor the Central Bank of Ireland maintains information on the costs of public liability insurance in Ireland. Neither do we hold information on public liability insurance costs across the European Union. I have contacted Insurance Ireland on this matter and they stated that they do not publish statistics on the average premium level. They also stated that an...

Written Answers — Department of Finance: Property Taxation Collection (18 Sep 2013)

Michael Noonan: I am advised by Revenue that arrangements for deduction of Local Property Tax (LPT) at source from payments made by the Department of Social Protection (DSP) were successfully implemented with effect from 1 July 2013 and all requests for this payment method have either been fully processed or, in a small number of cases, are being discussed by the liable person and Revenue where the automated...

Written Answers — Department of Finance: Excise Duties Yield (18 Sep 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the additional alcohol products tax yield from the Budget 2013 increase on wine is estimated at €45m for the period January to August 2013. The alcohol products tax yield from wine for the years 2010, 2011, 2012 and the first eight months of 2013 is as follows: - €m 2010 218.8 2011 231.0 2012 231.4 2013 (Jan to Aug) 174.8...

Written Answers — Department of Finance: Tax Reliefs Application (18 Sep 2013)

Michael Noonan: I propose to take Questions Nos. 206 and 207 together. In my Budget 2013 speech, I announced that changes to give effect to the commitment in the Programme for Government to cap taxpayers’ subsidies for pension schemes which deliver pension income of more than €60,000 will be put in place in 2014. An examination of the various options for change, including possible changes...

Written Answers — Department of Finance: Banks Recapitalisation (18 Sep 2013)

Michael Noonan: The Deputy will be aware that in preparation for the timely introduction of the Single Supervisory Mechanism (SSM) the Central Bank of Ireland (CBI), in consultation with staff of the EC, ECB and IMF, will conduct a stress test in accordance with the new EU methodology, ahead of and in close proximity to the upcoming SSM exercise. The intention is to ensure that appropriate preparations...

Written Answers — Department of Finance: VAT Rates Application (18 Sep 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. The difference in the rates mentioned by the Deputy relate to the different character of services as defined in VAT legislation. The general position is that sports related coaching, such as golf and surfing lessons, are...

Written Answers — Department of Finance: Banking Sector Regulation (18 Sep 2013)

Michael Noonan: The Government has imposed SME lending targets on the two domestic pillar banks for the three calendar years, 2011 to 2013. Each bank was required to sanction lending of at least €3 billion in 2011, €3.5 billion in 2012 and €4 billion in 2013 for new or increased credit facilities to SMEs. Both banks achieved the targets for 2011 and 2012. One of the primary...

Written Answers — Department of Finance: Mortgage Schemes (18 Sep 2013)

Michael Noonan: I am informed by Permanent TSB that Springboard Mortgages Limited is a wholly-owned subsidiary of Permanent TSB plc. Permanent TSB has informed me that Springboard Mortgages Limited operated as a specialist mortgage lender which provided finance to people who fell outside the credit criteria of traditional banks and building societies. Permanent TSB informs me that new lending by...

Written Answers — Department of Finance: Household Charge Collection (18 Sep 2013)

Michael Noonan: I am advised by the Revenue Commissioners that they have recently received details from the Local Government Management Agency (LGMA) of those properties where the Household Charge has been paid or, in respect of which a waiver from the charge has been granted. The Commissioners advise that they have a significant amount of work to do to match the LGMA's Household Charge Register with the...

Written Answers — Department of Finance: Capital Programme Expenditure (18 Sep 2013)

Michael Noonan: My Department did not fund any such capital projects during the period in question.

Written Answers — Department of Finance: European Stability Mechanism (18 Sep 2013)

Michael Noonan: As the Deputy is aware, on 20 June 2013 the Eurogroup of euro area Finance Ministers agreed a framework under which the European Stability Mechanism (ESM) will operate its direct recapitalisation instrument. In addition, the Eurogroup also agreed to consider retroactive recapitalisation of banks on a case-by-case basis once the instrument enters into force. This provides one potential...

Written Answers — Department of Finance: Banking Sector Issues (18 Sep 2013)

Michael Noonan: I wish to advise the Deputy that the Bank has informed me in the case of customers in financial distress, the bank does facilitate the transfer of tracker pricing in the event of property trade-down. The position remains under review in relation to all other cases.

Written Answers — Department of Finance: Tobacco Smuggling (18 Sep 2013)

Michael Noonan: I am advised by the Revenue Commissioners that Revenue has approximately 2,000 staff engaged on activities that are dedicated to target and confront non-compliance. These staff are deployed across a number of compliance and enforcement programmes that reflect the strategic and business priorities set out in its Statement of Strategy and Annual Corporate Plan. These programmes include...

Written Answers — Department of Finance: VAT Rates Application (18 Sep 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the VAT rating of goods and services is provided for in the Value Added Tax Consolidation Act 2010 which specifies the rates of VAT that apply to different categories of goods and services. These matters are governed by the EU VAT Directive, which generally provides that supplies of goods and services should be subject to VAT at the standard...