Results 13,201-13,220 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Interest Rates (26 Nov 2013)

Michael Noonan: Following the recent announcement by the ECB of a reduction in interest rates to date none of the State backed banks have indicated that they will pass on this rate cut bar the reductions that automatically follow on Irish tracker mortgage products. The Government is acutely aware of the increasing financial stress that some households are facing in the current environment, but, ultimately...

Written Answers — Department of Finance: Bank Guarantee Scheme Administration (26 Nov 2013)

Michael Noonan: The Deposit Guarantee Scheme (DGS) protects depositors up to €100,000 per depositor per credit institution in the event of a bank, building society or credit union authorised by the Central Bank of Ireland being unable to repay deposits. However, certain types of deposits are excluded from coverage, such as deposits from large companies and inter-bank deposits. The Central...

Written Answers — Department of Finance: Mortgage Resolution Processes (26 Nov 2013)

Michael Noonan: The Government is very aware of the significant difficulties some homeowners are facing in meeting their mortgage obligations and it is committed to advancing appropriate measures to assist those mortgage holders who are experiencing real and genuine difficulty. As the Deputy is aware, the Central Bank publishes quarterly statistics on the level of mortgage arrears. Separately from Central...

Written Answers — Department of Finance: VAT Rebates (26 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the Value-Added Tax Consolidation Act 2010 provides that any claim for a refund of VAT must be made within four years of the end of taxable period to which it relates. A similar four-year time limit applies to the estimation or assessment of VAT by the Revenue Commissioners in circumstances other than fraud or neglect. VAT legislation does not...

Written Answers — Department of Finance: Bank Debt Restructuring (26 Nov 2013)

Michael Noonan: As the Deputy is aware, the Government reached a conclusion to its discussions with the European Central Bank in February that delivered on our commitment to put in place a fairer and more sustainable arrangement on the IBRC Promissory Notes. That transaction also saw the remnants of Anglo Irish Bank and Irish Nationwide removed from the financial and political landscape. The Government has...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (26 Nov 2013)

Michael Noonan: I have been advised by the Special Liquidators that the contractual terms and conditions of mortgage customers have not changed as a result of the appointment of the Special Liquidators nor will they change on the sale to a third party. As the sale process for this portfolio has yet to be completed it is not possible to speculate on what the potential intentions of the ultimate purchasers of...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (26 Nov 2013)

Michael Noonan: I understand that AIB and Permanent TSB are already engaging with Irish Bank Resolution Corporation mortgage holders who wish to move their mortgages. This is a welcome development and I would encourage both institutions to continue doing so where appropriate. AIB has informed me that it continues to engage with individual IBRC customers who wish to discuss moving their existing mortgage....

Written Answers — Department of Finance: Mortgage Interest Rates (26 Nov 2013)

Michael Noonan: I, as Minister for Finance, have no statutory role in relation to the mortgage interest rates charged by regulated financial institutions. It is a commercial matter for the banks concerned. The Central Bank has responsibility for the regulation and supervision of financial institutions in terms of consumer protection and prudential requirements and for ensuring ongoing compliance with...

Written Answers — Department of Finance: Property Taxation Application (26 Nov 2013)

Michael Noonan: For Local Property Tax (LPT) purposes a residential property is defined as any building or structure (or part of a building) which is used as, or is suitable for use as, a dwelling. Where a residential property is habitable, that is, suitable for use as a dwelling, it is liable to LPT. I am advised by the Revenue Commissioners that property owners should take account of the structure of the...

Written Answers — Department of Finance: Credit Review Office Remit (26 Nov 2013)

Michael Noonan: As the Deputy is aware, the Credit Review Office (CRO) reviews decisions by the banks participating in NAMA to refuse, reduce or withdraw credit facilities (including applications for restructured credit facilities) from €1,000 up to €3m. Permanent TSB are not a participating institution in NAMA, and indeed would have very limited lending to the SME sector compared to AIB and...

Written Answers — Department of Finance: Strategic Investment Bank Establishment (26 Nov 2013)

Michael Noonan: ACC’s situation must be considered against a backdrop of a comprehensive programme of bank recapitalisation and restructuring that has been underway to change the future banking landscape in Ireland. It is hard to see in any context how the purchase of a bank which has been focussed on downsizing over the past number of years would match the goals and ambition of strategic investment....

Written Answers — Department of Finance: Tax Collection (26 Nov 2013)

Michael Noonan: Given that there are two parties to the transaction in question and tax matters potentially relevant to both, I am advised by the Revenue Commissioners they are concerned that taxpayer confidentiality may preclude them from responding to the Deputy’s question. Section 851A of the Taxes Consolidation Act 1997 (inserted by Finance Act 2011) placed on a formal statutory basis the...

Written Answers — Department of Finance: Carbon Tax Collection (26 Nov 2013)

Michael Noonan: Solid fuel carbon tax will be charged on all solid fuels supplied in the State, regardless of whether the fuel products are Irish made or imported. Solid fuel is defined under section 77 of the Finance Act 2010, as amended and means coal or peat. Coal is further defined to include coal and lignite, solid fuel manufactured from coal and lignite, and any other energy product within the...

Written Answers — Department of Finance: Tax Collection (26 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that this taxpayer’s total income exceeded the income tax exemption limit of €18,000 for 2012. The same income tax exemption limit of €18,000 applies for 2013 and there was no reason to anticipate that the total income of the taxpayer would change in 2013. However, with the death of the taxpayer in July 2013, the taxpayer’s...

Written Answers — Department of Finance: Pensions Levy Issues (26 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 am, however, introducing an additional levy on pension funds at 0.15%. This additional levy within the existing legal framework will apply to pension fund assets in 2014 and 2015. I am doing this to continue to help fund the...

Written Answers — Department of Finance: State Bodies Issues (26 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that on 6 November 2013 it came to their attention that fraudulent text messages purporting to be from Revenue were in circulation. This particular scam took the form of a message referring to an Irish tax refund. Recipients were invited to visit a website and to enter the 4 digit number contained in the message. Recipients who followed the...

Written Answers — Department of Finance: Economic Policy (26 Nov 2013)

Michael Noonan: The Government approved the drafting of a Medium Term Economic Strategy (MTES) on 11th June 2013 and consultation on this Strategy has been ongoing with Departments, Agencies, and Representative Bodies. The MTES is a whole-of-Government endeavour and the Department of Finance and the Department of Public Expenditure and Reform were given joint responsibility to prepare the strategy in close...

Written Answers — Department of Finance: Credit Unions Liabilities (26 Nov 2013)

Michael Noonan: I have been informed by the Central Bank that under section 33AK of the Central Bank Act 1942, they cannot comment on matters in relation to an individual credit union. I note from the website of St. Raphael’s Garda Credit Union that its Annual General Meeting is scheduled for 17 December at which the financial position of the credit union would be expected to be presented to members.

Written Answers — Department of Finance: Tax Credits (26 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that information on the relationship between carers and the children in their care is not generally required in claims made for the one parent family tax credit. Accordingly, there is no basis on which a breakdown of the numbers of carers by reference to their relationship with children in their care could be compiled. The position is that section...

Written Answers — Department of Finance: Departmental Expenditure (26 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 185 to 191, inclusive, together. I propose to take all of the above parliamentary questions together since they all pose the same question but regarding seven different companies. The detail requested by the Deputy is set out in the table. Company name Year Amount Paid Nature of work Was contract subject to tender? Number of contracts A Cox 2008-2013...