Results 13,981-14,000 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Availability (16 Jan 2014)

Michael Noonan: I, as Minister for Finance, have no statutory role in relation to the issues raised by the Deputy. I have been advised by the Central Bank that it does not publish statistics regarding lending by banks in other jurisdictions to business in Ireland. The Central Bank of Ireland has overall responsibility for the authorisation, regulation and supervision of credit institutions operating in...

Written Answers — Department of Finance: Credit Availability (16 Jan 2014)

Michael Noonan: I am informed by the Central Bank of Ireland that the information sought by the Deputy is contained in Credit, Money and Banking Statistics: Publications and Releases in Table A.7.1 Loans to Non-Residents – Other Euro Area and Table A.7.2 Loans to Non-Residents – Non-Euro Area.

Written Answers — Department of Finance: National Debt (16 Jan 2014)

Michael Noonan: The Euro-area Heads of State or Government (HoSG) agreed in June 2012 that “it is imperative to break the vicious circle between banks and sovereigns”, and that when a Single Supervisory Mechanism, involving the ECB, is in place and operational, the European Stability Mechanism could recapitalize banks directly. The Eurogroup meeting of 20th June 2013 agreed on the main...

Written Answers — Department of Finance: Credit Ratings (16 Jan 2014)

Michael Noonan: The Irish Credit Bureau is a private entity and I have no role in regulating the mechanism by which lending institutions report to the Bureau. It a commercial matter between the ICB and the relevant institutions. The Deputy will be aware that the Credit Reporting Act, 2013 provides for the establishment of a statutory credit register that will be owned and operated by the Central Bank of...

Written Answers — Department of Finance: Bank Charges (16 Jan 2014)

Michael Noonan: As the Deputy may be aware, the Programme Documents (the Memorandum of Understanding on Specific Economic Policy Conditionality and the Memorandum of Economic and Financial Policies) agreed following the 10th Review of the EU-IMF Programme of Financial Support include a commitment to carry out an assessment of banks’ fee income by end-December 2013 as follows: The authorities will...

Written Answers — Department of Finance: Tax Code (16 Jan 2014)

Michael Noonan: As you are aware the One-Parent Family Credit ceased with effect from 31 December 2013 and was replaced by the Single Person Child Carer Credit, which is applicable from 1 January 2014. The restructured credit is of the same value i.e. €1,650 per annum as the one-parent family tax credit and also carries the same entitlement to the additional €4,000 extended standard rate band,...

Written Answers — Department of Finance: Tax Rebates (16 Jan 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that in November 2013 they received Forms MED1 from the person concerned for the years 2010, 2011 and 2012. These claims have been processed and PAYE Balancing Statements (P21s)  issued dated 29 November 2013, and 4 December 2013 respectively.  As no income tax was paid for 2010, no refund is due for that year. Refunds for 2011 and...

Written Answers — Department of Finance: Financial Services Regulation (21 Jan 2014)

Michael Noonan: I propose to take Questions Nos. 190, 193, 194, 206 and 208 together. Pursuant to section 33AK of the Central Bank Act 1942, the Central Bank cannot disclose confidential information in relation to this individual. However, generally, retail credit firms are required to be authorised under Part V of the Central Bank Act, 1997 and a register of all such firms is maintained on the Central...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Administration (21 Jan 2014)

Michael Noonan: As the Deputy is aware, I announced the Home Renovation Incentive in the recent Budget. This scheme came into operation on 25 October 2013 and will run until 31 December 2015. The incentive provides 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. Qualifying...

Written Answers — Department of Finance: Departmental Reports (21 Jan 2014)

Michael Noonan: The information requested by the Deputy is set out in a table. None of the payments were funded from Ministerial remuneration. Consultant External Report Amount Paid Year Published/Ongoing PMCA Economic Consulting Assistance and Analysis in the Preparation of the Medium-Term Economic Strategy 2014-2020 €49,043.00 2013 Final report submitted 6.12.13* Crowe Horwath Report to...

Written Answers — Department of Finance: Tax Code (21 Jan 2014)

Michael Noonan: I am advised by the Revenue Commissioners that at present Local Property Tax (LPT) is not a deductible expense for income tax or corporation tax purposes. The Thornhill Group, the inter-departmental group, chaired by Dr Don Thornhill, set up to consider the design of a property tax (the "Thornhill Group") recommended that the LPT paid in respect of a rented property should be deductible for...

Written Answers — Department of Finance: Mortgage Data (21 Jan 2014)

Michael Noonan: Retail credit firms are a regulated category of entities authorised to provide credit (in the form of cash loans) directly to individuals.  A register of all Retail Credit Firms is available on the Central Bank website at the following link:  . I am informed by the Central Bank that, at end September 2013, six of these firms had a total of 17,807 primary dwelling (PDH)...

Written Answers — Department of Finance: NAMA Operations (21 Jan 2014)

Michael Noonan: Under Section 226 of the NAMA Act, as soon as may be after 31 December 2013, and every 3 years after that while NAMA remains in existence, the Comptroller and Auditor General (C&AG) shall prepare and present a copy of a progress report on NAMA to the Minister for Finance.  I am advised by the C&AG that it has prepared an initial draft Section 226 report and I expect...

Written Answers — Department of Finance: Mortgage Schemes (21 Jan 2014)

Michael Noonan: The Deputy will appreciate that it is a matter for financial institutions to consider what products are made available. The Central Bank of Ireland does not approve products offered by regulated entities and does not collect data on product availability in other Member States. Regarding the issue of inter-generational mortgages, the Inter-Departmental Mortgage Arrears Working Group...

Written Answers — Department of Finance: Tax Code (21 Jan 2014)

Michael Noonan: I assume that the Deputy's question relates to the double deduction for carbon tax on farm diesel which I provided for in Finance Act 2012. Under this provision, farmers are allowed a deduction in computing their farming profits or losses for the amount of additional carbon tax they incur on purchases of Marked Gas Oil following the €5 per tonne increase in the rate of carbon tax on...

Written Answers — Department of Finance: Tax Code (21 Jan 2014)

Michael Noonan: For a payment to qualify as an allowable deduction, by either a sole trader or a company, the payment must be expended wholly and exclusively for the purposes of a trade or profession. It would appear the Deputy is proposing that, notwithstanding that expenditure met that test, a deduction would not be permitted unless an invoice carried either a VAT or a tax reference number. The Irish...

Written Answers — Department of Finance: Tax Collection (21 Jan 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the information requested, estimated by reference to the income tax years 2011 and 2012, is set out in tables. All Income earners for Income Tax Year 2011 Gross Income Range Gross Income Numbers Income Tax/USC/PRSI € € € 0 - 5,000 476,324,603 221,975 2,873,398 5,000 - 10,000 1,223,068,809 163,594 30,447,443 10,001 -...

Written Answers — Department of Finance: Property Taxation Assessments (21 Jan 2014)

Michael Noonan: The Deputy will be aware that the Revenue Commissioners are continuing to refine the Local Property Tax (LPT) Register and that work will continue for some time.  However I am advised that, based on the values declared by residential property owners in LPT Returns filed to date, there are approximately 3,600 properties valued at over €1m in the Register.

Written Answers — Department of Finance: Property Taxation Collection (21 Jan 2014)

Michael Noonan: The situation referred to by the Deputy would potentially arise where weekly Local Property Tax (LPT) deductions from a property owner's Department of Social Protection (DSP) payment would have the effect of reducing that individual's personal rate payment to below the weekly rate of supplementary welfare allowance which is currently €186 per week. This issue was well anticipated and...

Written Answers — Department of Finance: Consultancy Contracts Expenditure (21 Jan 2014)

Michael Noonan: The total amount paid to Oracle from my Departments' Vote in 2013 was €80,381.55. This is in respect of the usual annual support charges associated with software licenses and most of it is attributable to the Department's Financial Management System (JD Edwards, which is an Oracle product). There were no payments to Accenture in 2013.