Results 12,821-12,840 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Central Bank of Ireland Investigations (6 Nov 2013)

Michael Noonan: I have been informed by the Central Bank that while, in theory, the Central Bank is not restricted from investigating matters which date back several years, the tools available to the Central Bank to take action, including sanction, against a regulated entity on foot of any findings of such an investigation may be limited by a number of factors. The investigative powers available to the...

Written Answers — Department of Finance: Tax Credits (6 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 40, 41 and 43 to 47, inclusive, together. No, I do not consider this measure to be a breach of the Programme for Government. Let me be clear what is happening, from 1 January 2014, the One-Parent Family Tax Credit is being replaced with a new Single Person Child Carer Tax Credit. The new credit will be of the same value, i.e. €1,650, as the existing...

Written Answers — Department of Finance: Banking Sector Issues (6 Nov 2013)

Michael Noonan: As the deputy will be aware for contractual confidentiality reasons AIB is precluded from discussing or divulging details of individual customer accounts. However I am advised by the Bank that all customers are dealt with fairly and in line with AIB’s existing bank credit & lending policies. Where customers are experiencing financial difficulty I would encourage them to...

Written Answers — Department of Finance: Tax Yield (6 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the latest available information on the Domicile Levy is for the tax year 2011, which is that 17 persons have submitted Domicile Levy returns for that year. The amount of Domicile Levy paid in relation to those returns was €2,500,493. Returns for tax year 2012 are not due until 31 October 2013 (or 14 November 2013 for Revenue Online...

Written Answers — Department of Finance: Pensions Levy Issues (6 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 50 and 51 together. The Report on Pension Charges 2012 was undertaken by the Department of Social Protection, working with the Central Bank and the Pensions Board, and with support from PWC. The launch of the Report on Pension Charges report in October 2012 was followed by a three month consultation with stakeholders. Following the consultation, it was...

Written Answers — Department of Finance: Property Taxation Deferrals (6 Nov 2013)

Michael Noonan: I am informed by Revenue that a key aspect of the work it has undertaken in connection with the administration of Local Property Tax (LPT) has been the development of a register of residential properties in the State. The development of the Property Register required Revenue to extract and consolidate data from multiple Government and non-Government sources. In the case of jointly assessed...

Written Answers — Department of Finance: State Banking Sector (6 Nov 2013)

Michael Noonan: The Special Liquidators have confirmed that the residential mortgage customers of IBRC Limited (in Special Liquidation) continue to enjoy the protection of the Central Bank Code of Conduct on mortgage arrears and other protections in Irish consumer law. I am advised that the contractual terms and conditions of customer mortgages and other borrowings will not change as a result of the...

Written Answers — Department of Finance: Property Taxation Assessments (7 Nov 2013)

Michael Noonan: I am advised by Revenue that, where liable persons overpay their Local Property Tax (LPT) through an error or mistake in valuing their property, they should write to LPT Branch, Government Buildings, Ennis, Co Clare clearly setting out how the overpayment arose. They should also include relevant documentation in support of their revised valuation such as, for example, a copy of a...

Written Answers — Department of Finance: Credit Availability (7 Nov 2013)

Michael Noonan: Facilitating access to finance for SMEs is a key aspect of the Action Plan for Jobs 2013. It is the Government’s vision that all viable businesses operating in Ireland should have the opportunity to access sufficient finance to meet their enterprise needs in a manner that supports growth and employment in the economy. The Government has imposed SME lending targets on AIB and Bank of...

Written Answers — Department of Finance: Property Taxation Assessments (7 Nov 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered and how a residential property is to be valued for Local Property Tax (LPT) purposes. As I informed the House, most recently in my reply to Question [47040/13] on 5 November 2013, Local Property Tax (LPT) is a self-assessed tax so it is a matter for the property owner to calculate the tax due...

Written Answers — Department of Finance: Property Taxation Administration (7 Nov 2013)

Michael Noonan: I am informed by Revenue that the difficulty in relation to the Local Property Tax (LPT) payment preference in this case arose in the first instance due to the person in question selecting two different payment options. When filing her LPT Return on 15 May 2013, the person selected both “deduction at source” from her Department of Agriculture, Food and the Marine pension and...

Written Answers — Department of Finance: Property Taxation Administration (7 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that LPT provides for a range of payment options and property owners can choose the one that best suits their particular circumstances. I am advised that no matter how the LPT charge for 2013 was paid, property owners can choose any of the available options to pay their 2014 liability and can decide whether to pay the tax in full or to spread...

Written Answers — Department of Finance: Mortgage Arrears Rate (7 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 67 to 69, inclusive, together. My Department has requested the six main banks operating in Ireland, and who fall within the Central Bank Mortgage Arrears Resolution Targets(MART) process, to provide data on the restructuring situation in relation to all primary dwelling mortgages, both in arrears and not in arrears, on a monthly basis. This process is...

Written Answers — Department of Finance: Fuel Rebate Scheme (7 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the suggestion that huge savings could be made by moving from the current system of marking rebated fuels to one based on making repayments to those users that currently use rebated fuels is based on the erroneous view that adding the prescribed markers to rebated fuel is exceptionally costly and is borne by the exchequer. This is not the case;...

Written Answers — Department of Finance: Tax Reliefs Abolition (7 Nov 2013)

Michael Noonan: As the Deputy is aware, the One-Parent Family Tax Credit (OPFTC) is being replaced with a new Single Person Child Carer Tax Credit from 1 January 2014. The Single Person Child Carer Tax Credit will be of the same value, i.e. €1,650, as the existing OPFTC and will also carry the same entitlement to the extended standard rate tax band of €36,800 per annum. The new credit will be...

Written Answers — Department of Finance: Pensions Levy Issues (7 Nov 2013)

Michael Noonan: I announced in my recent Budget speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 will be abolished from the 31st of December 2014. I will however, introduce an additional levy on pension funds at 0.15%. I am doing this to continue to help fund the Jobs Initiative, including the continuation of the reduced 9% VAT rate detailed below and to make provision...

Written Answers — Department of Finance: Tax Rebates (7 Nov 2013)

Michael Noonan: As the Deputy is aware, I announced the Home Renovation Incentive in the recent Budget. This scheme will run from 25 October 2013 to 31 December 2015 and provides for tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. The legislation states that a qualifying...

Written Answers — Department of Finance: Mortgage Arrears Rate (7 Nov 2013)

Michael Noonan: The Central Bank’s Code of Conduct on Mortgage Arrears (CCMA) provides that each bank must put in place a formal Mortgage Arrears Resolution Process to deal with its mortgage customers who are in arrears or pre-arrears and for the establishment of dedicated arrears support units and appeals processes to handle such cases. Section 55 of the CCMA provides that complaints relating to the...

Written Answers — Department of Finance: Property Taxation Assessments (7 Nov 2013)

Michael Noonan: I am advised by Revenue that Section 11 of the Finance (Local Property Tax) Act 2012 (as amended) provides that lessees who hold long-term leases of residential property spanning twenty years or more, are liable to pay Local Property Tax (LPT) in respect of that property. In the specific case mentioned by the Deputy, I am advised that the person concerned is not considered to be the liable...

Written Answers — Department of Finance: Tax Collection (7 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 76, 87 and 89 to 96, inclusive, together. Under the regulations known as the “Two-Pack” which were formally adopted on 30th May 2013, a common budgetary timeline is being introduced for all Euro Area member states. Specifically: - the draft budget for central government and the main parameters of the draft budgets for all the other...