Results 13,781-13,800 of 27,019 for speaker:Michael Noonan

Seanad: Adjournment Matters: NAMA Operations (19 Dec 2013)

Michael Noonan: I thank Senator Higgins for her supplementary information and will be glad to receive the newspaper cutting to which she referred. It is helpful that she has put on record her action in making reports to the Garda Síochána regarding the situation she raised in the House earlier this year.

Betting (Amendment) Bill 2013: Order for Second Stage (15 Jan 2014)

Michael Noonan: I move: "That Second Stage be taken now."

Betting (Amendment) Bill 2013: Second Stage (15 Jan 2014)

Michael Noonan: I move: "That the Bill be now read a Second Time." The Betting (Amendment) Bill 2013 was published in July last and was subject to a three month standstill period under the EU technical standards directive. During this time, several communications seeking clarification around aspects of the Bill were received from the Commission and responded to by my officials. The Bill is designed to...

Betting (Amendment) Bill 2013: Second Stage (15 Jan 2014)

Michael Noonan: The Deputy has gone populist.

Written Answers — Department of Finance: Property Taxation Administration (15 Jan 2014)

Michael Noonan: I am informed by the Revenue Commissioners that compliance data in relation to the Local Property Tax (LPT) for 2013 are available broken down by city and county councils nationally and the most up to date figures are published on the Commissioners website at: . As of 6 November 2013, a total of €6.6 m in LPT had been paid in County Kerry. The Commissioners will publish 2013...

Written Answers — Department of Finance: Money Laundering (15 Jan 2014)

Michael Noonan: The customer due diligence requirements are set out in the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (as amended by the Criminal Justice (Money Laundering and Terrorist Financing) Act 2013). Section 33 of the 2010 Act requires designated persons (such as banks) to apply customer due diligence measures prior to establishing a business relationship with a customer...

Written Answers — Department of Finance: Social Welfare Payments Administration (15 Jan 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that they were notified in November 2013 by the Department of Social Protection that the person concerned was awarded the additional payment. Following receipt of that advice a revised tax credit certificate issued so that income tax on that additional payment for November 2013 and December 2013 would be collected during that year. No other...

Written Answers — Department of Finance: IBRC Investigations (15 Jan 2014)

Michael Noonan: I am advised that the contractual terms and conditions of customer mortgages and other borrowings have not changed as a result of the appointment of the Special Liquidators nor will they change following the ultimate sale of the obligations to a third party. However as IBRC is in liquidation it is limited in terms of the supply of further credit to customers. The Special Liquidators have...

Written Answers — Department of Finance: Mortgage Interest Rates (15 Jan 2014)

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 mortgage interest rates that financial institutions operating in Ireland charge to customers are determined as a result of a commercial decision by the institutions concerned. This interest rate is...

Written Answers — Department of Finance: Tax Code (15 Jan 2014)

Michael Noonan: I am assuming that the Deputy's question on whether the purchase of property for rent is a business relates to the renting of the property, rather than to its purchase. I am advised by the Revenue Commissioners that under existing legislation income tax is charged under Schedule D of the Taxes Consolidation Act (TCA) 1997 in respect of a number of sources of income, which are classified into...

Written Answers — Department of Finance: Tax Code (15 Jan 2014)

Michael Noonan: I am informed by Revenue that the starting point for determining the taxable profits of a business is the accounting profits of that business, calculated in accordance with Generally Accepted Accounting Practice (GAAP ). Under GAAP, stock must be valued at the lower of cost or net realisable value. Accordingly, stock which has been stolen will have a Nil valuation and as the cost of...

Written Answers — Department of Finance: NAMA Operations (15 Jan 2014)

Michael Noonan: I am advised this is ultimately a matter between the vendor of a residential property (who may be a debtor or receiver) and the purchaser and their respective legal advisers. As the Deputy is aware, NAMA does not own or sell property. Rather, NAMA’s role is, like a bank, that of a secured lender. In the context of its role as a secured lender, NAMA applies significant resources to...

Written Answers — Department of Finance: Property Taxation Administration (15 Jan 2014)

Michael Noonan: Local authorities are liable for the Local Property Tax (LPT) as owners of residential properties. However, an exemption from LPT applies where such properties are used to provide "special needs accommodation", meaning properties provided to people who require support to enable them to live in the community, such as sheltered accommodation for the elderly or the disabled. The Revenue...

Written Answers — Department of Finance: Banking Sector Issues (15 Jan 2014)

Michael Noonan: I propose to take Questions Nos. 109 and 110 together. The Central Bank has informed me that prior to Danske Bank Ireland’s public announcement, the bank informed the Central Bank of its commercial decision to withdraw existing day to day personal customer products and services on a phased basis during the first half of 2014, and also to discontinue the provision of personal and...

Written Answers — Department of Finance: Property Taxation Application (15 Jan 2014)

Michael Noonan: I am advised by the Revenue Commissioners that they issued letters in late October 2013 to certain property owners concerning their 2014 Local Property Tax (LPT) obligations. Those contacted were property owners who filed their 2013 LPT Returns and paid their liabilities by lump sum or by way of regular cash payments. Revenue further advised me that it did not write to certain other...

Written Answers — Department of Finance: Departmental Staff Data (15 Jan 2014)

Michael Noonan: In response to the Deputy s question, my Department uses its own staff and staff supplied under an arrangement with the National Council for the Blind for the purposes of answering and transferring calls on our switch board during office hours. Outside of these hours calls are handled by Department staff. My Department also looks after this service for the Department of Public Expenditure...

Written Answers — Department of Finance: Company Closures (15 Jan 2014)

Michael Noonan: The Central Bank has informed me that Home Payments Limited was not authorised by the Central Bank of Ireland (‘Central Bank’). At the time Home Payments Limited was in operation, there was no regime in place targeting specifically, the authorisation and supervision of businesses labelled “bill payment”, “debt management” or “debt...

Written Answers — Department of Finance: Banking Operations (15 Jan 2014)

Michael Noonan: I have no plans to require banks and credit card companies to text the card holder after each transaction. According to the Irish Payment Service Organisation, there are approximately 300 million card transactions each year. Such a proposal would impose significant additional costs on card suppliers. The Deputy may wish to put his proposals to the individual card companies.

Written Answers — Department of Finance: NAMA Operations (15 Jan 2014)

Michael Noonan: I am advised by NAMA that it does not maintain a register of all individual contacts between former employees and the Agency. Nor would it be feasible to do so, given that there currently are over 330 staff assigned to NAMA and that over 60 staff have left the Agency since its inception. Furthermore, some former staff members would not possess any specific knowledge relating to either...

Written Answers — Department of Finance: NAMA Staff Numbers (15 Jan 2014)

Michael Noonan: All National Asset Management Agency (NAMA) staff are employees of the National Treasury Management Agency (NTMA). Under section 42 of the National Asset Management Agency Act 2009, the NTMA assigns staff to NAMA. 331 staff were assigned to NAMA at end 2013. Numbers of staff assigned to NAMA who have left the organisation are as follows: 2010 3 2011 8 2012 22 2013 29