Results 13,801-13,820 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I am informed by the Revenue Commissioners that the yield from motorists from Mineral Oil Tax, VRT, VAT, Carbon Tax in 2011, 2012 and 2013 is shown in the tables below. MOT Carbon Tax VAT (Estimated) Total €m €m €m €m Petrol 2011 992.6 60.1 459.0 1,511.7 2012 904.1 74.6 510.7 1,489.4 2013 849.5 69.6 480.0 1,399.1 Auto Diesel 2011 1,078.3...

Written Answers — Department of Finance: Infrastructure and Capital Investment Programme (15 Jan 2014)

Michael Noonan: As the Deputy is no doubt aware, in July 2012 the Minister for Public Expenditure and Reform, Brendan Howlin T.D., announced on behalf of the Government a €2.25 billion Infrastructure Stimulus Programme aimed at promoting jobs and growth. It is intended that projects in the Stimulus Programme to a value of €1.4 billion will be provided through Public Private Partnerships...

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

Michael Noonan: The Department of Finance did not incur any costs in relation to the recent Balance Sheet Assessments (BSA). As the Deputy will be aware, the Central Bank (CBI) undertook the BSA exercise. Boston Consulting Group (BCG) was contracted by the CBI as independent assessors and to provide project management resources. Ernst & Young was contracted to conduct the loan file and impairment...

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

Michael Noonan: I am advised by NAMA that the total nominal or par value of loans acquired for a nominal consideration was of the order of €3.5bn. NAMA advises that there were a number of reasons why this occurred but that the main reason related to defective legal security, meaning that the security was not fully enforceable or, in some cases, entirely unenforceable as some were unsecured loans. In...

Written Answers — Department of Finance: NAMA Loan Write-Downs (15 Jan 2014)

Michael Noonan: I have been advised by the Special Liquidators that they are not writing off the debts of borrowers with large portfolios but are engaged in a sales process which is designed to achieve the maximum return for all creditors in the liquidation including the State. The sales process plan and timeline has been developed following professional advice and in light of requirements of a robust and...

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

Michael Noonan: As you are aware the One-Parent Family Tax Credit (OPFTC) has been replaced with a new Single Person Child Carer Tax Credit from 1 January 2014. The restructured credit is of the same value i.e. €1,650 per annum as the OPFTC and also carries the same entitlement to the additional €4,000 extended standard rate band, which increases it to €36,800 per annum, before...

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

Michael Noonan: NAMA has published a detailed guidance note on the disposal of real estate assets by its debtors and receivers. This is available on its website at the following location . This makes clear both the commercial relationship that applies between selling agents, NAMA debtors and receivers and NAMA, in its role as a secured lender. It also addresses the other questions raised by the Deputy.

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

Michael Noonan: Jobseeker's Benefit is a weekly payment from the Department of Social Protection (DSP) to individuals who are out of work and who are covered by social insurance (PRSI), regardless of any other income or assets they may have. Jobseeker's Allowance is payable to people who are out of work who don't qualify for Jobseeker's Benefit or who may have used up their entitlement to Jobseeker's...

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

Michael Noonan: As the Deputy will be aware under the Relationship Framework the State does not intervene in the day to day operations of the bank or their management decisions regarding commercial matters. I have been informed that for confidentiality reasons AIB is not in a position to discuss details of individual customer circumstances. AIB reviews each individual’s circumstances on a case by...

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

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned is liable for PAYE tax on any income over €317 per week. There is no additional tax credit due to the individual concerned in respect of dependant children. PRSI is chargeable where the individual's weekly income exceeds €352. Any further queries regarding this aspect of the enquiry should be directed to...

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

Michael Noonan: As the Deputy will be aware, the Taoiseach mentioned in this House shortly before the recess that he had held discussions with Chancellor Merkel on finding ways to reinforce Ireland’s economic recovery by improving funding mechanisms for the real economy, including access to finance for Irish SMEs. The German Government has asked KfW, the German development bank, to work with the...

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

Michael Noonan: I propose to take Questions Nos. 128 and 129 together. As the Deputy is aware, the Government has imposed SME lending targets on AIB and Bank of Ireland 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 last year and €4 billion in 2013 for new or increased credit facilities to SMEs. Both...

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

Michael Noonan: NAMA has instigated 117 sets of proceedings. Of that number, 60 are complete. NAMA was successful in all 60 of those cases. The remaining 57 of those cases are ongoing through the Courts. NAMA has had 31 actions taken against it. Of those, 16 are still active, and 15 are complete. Fourteen of those cases completed resulted in a favourable outcome for NAMA and NAMA was partially...

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

Michael Noonan: NAMA does not maintain an internal press office. Instead, its internal communications resources are supported by an external service provider, Gordon MRM, (appointed following a public procurement process) in order to offer a full press office and communications service (including out-of-hours contacts for the media). This press office and communications service provides support across all...

Written Answers — Department of Finance: VAT Rate Application (15 Jan 2014)

Michael Noonan: I gave detailed responses to the Deputy's previous questions. The VAT Rates Database is an integral part of the information provided on the Revenue website. A key element to supporting voluntary compliance is the provision of up to date information. As the Deputy is aware, the Irish VAT system has a number of rates and it is absolutely critical that Revenue provides the VAT Rates Database...

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

Michael Noonan: I am informed by the Revenue Commissioners that the cost to the Exchequer of mortgage interest relief for principal private residences by way of tax relief at source (TRS) in the years 2010 to 2014 inclusive is as follows: Tax Year Cost €m 2010 375 2011 357 2012 411 2013* 353 2014 (estimated) 350 *This figure is provisional and subject to revision. The estimate of...

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

Michael Noonan: Section 12 of Finance Act 2012 introduced the Foreign Earnings Deduction (FED) which provides for a limited tax deduction for individuals who temporarily carry out the duties of their office or employment in Brazil, Russia, India, China or South Africa. The provision applies as respects the years 2012, 2013 and 2014. The Department of Agriculture sought the extension of FED for employment...

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

Michael Noonan: I am informed by the Revenue Commissioners that the total income tax and USC paid in each county for the year 2012 is €15,151 million and the breakdown on a county basis is set out in the table below. Figures are not compiled on a similar basis in respect of PRSI. It should be noted that Revenue Sheriffs, County Registrars or their officers operate for the purposes of enforcement of...

Written Answers — Department of Finance: Basic Payments Account (15 Jan 2014)

Michael Noonan: The Report on the Standard Bank Account pilot project was published on my Department’s website on 10 January 2014. The Financial Inclusion Working Group (FIWG), chaired by my Department, and including stakeholders ranging from other Government Departments, the Central Bank of Ireland, retail banks, An Post, the National Consumer Agency and voluntary sector organisations will work...

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

Michael Noonan: I am informed by the Central Bank that crypto-currencies such as Bitcoin are not services regulated by the Central Bank and are not legal tender in the Euro area. Consumers using Bitcoin should be aware that it is not covered by any Irish regulatory protections and does not fall under the Deposit Guarantee Scheme or the Investor Compensation Fund, so consumers would be liable for all...