Results 14,141-14,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Money Laundering (4 Feb 2014)

Michael Noonan: The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 as amended by the Criminal Justice Act 2013, transposes the Third Anti-Money Laundering Directive (2005/60/EC) into national law. Designated persons under the Act, including banks and all credit and financial institutions (as defined in the Act) are required to comply with their obligations under the Act. ...

Written Answers — Department of Finance: Property Taxation Exemptions (4 Feb 2014)

Michael Noonan: The Government decided that a liability to the Local Property Tax (LPT) should apply to all owners of residential property with a limited number of exemptions.  Limiting the exemptions available allows the rate to be kept low for those liable persons who do not qualify for an exemption. While I am conscious that the upkeep of heritage properties is performed at significant effort and...

Written Answers — Department of Finance: Mortgage Arrears Proposals (4 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 158 and 184 to 186, inclusive, together. The strong view of the Government is that, in respect of co-operating borrowers under the Mortgage Arrears Resolution Process (MARP), repossession of a person's primary home should only be considered as a last resort and that every effort should be made to agree a sustainable arrangement as an alternative to...

Written Answers — Department of Finance: Banking Sector Issues (4 Feb 2014)

Michael Noonan: The Deputy s question may arise from the recent publication of the Report on the Standard Bank Account pilot project. That Report noted that the view of the stakeholders was that one of the key elements that will have to be part of the preparations for a successful national roll-out of a Standard Bank Account is greater involvement by An Post and the credit unions to have the best...

Written Answers — Department of Finance: Departmental Strategies (4 Feb 2014)

Michael Noonan: As the Deputy is aware, I announced in Budget 2014 that the Government is developing a comprehensive communication strategy to increase awareness of the full suite of developmental business supports, totalling approximately €2bn, which is available from State bodies and agencies. To date, a number of initiatives have been undertaken to make information available to SMEs on the part of...

Written Answers — Department of Finance: Credit Review Office Applications (4 Feb 2014)

Michael Noonan: As the Deputy is aware, in Budget 2014 I announced an increase in the limit for loan applications that can be reviewed by the Credit Review Office (CRO) from €500,000 to €3m. This increase will facilitate requests from a broader range of SMEs, as well as assisting those borrowers currently banked with non-trading banks and banks which are strategically exiting the Irish SME...

Written Answers — Department of Finance: Appointments to State Boards (4 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 162 and 163 together. In response to the Deputy's questions my Department has not engaged the services of external professional advice on the appointment of persons to State Boards under the aegis of my Department.

Written Answers — Department of Finance: Banking Sector Issues (4 Feb 2014)

Michael Noonan: The levy on financial institutions was introduced in the Finance (No. 2) Act 2013 which was passed by both Houses of the Oireachtas and signed into law by the President. I am not aware of, nor have I received any notice of, legal proceedings in relation to the levy.

Written Answers — Department of Finance: Tax Reliefs Availability (4 Feb 2014)

Michael Noonan: As the Deputy is aware, changes were made to the scheme of tax relief for donations to approved bodies in Finance Act 2013 as follows: 1. Donations from all individual donors under the scheme are treated in the same manner, with the tax relief in all cases being repaid to the charity. 2. A blended rate of relief of 31% applies to all taxpayers regardless of their marginal tax rate. All...

Written Answers — Department of Finance: Property Taxation Application (4 Feb 2014)

Michael Noonan: The legislation governing the administration of Local Property Tax (LPT) provides for a number of exemptions from LPT, two of which are particularly relevant to those who purchased a residential property during 2013. Firstly, under section 9 of the Finance (Local Property Tax) Act 2012 (as amended) any new and previously unused residential property that was purchased from a builder or...

Written Answers — Department of Finance: Mortgage Data (4 Feb 2014)

Michael Noonan: The Deputy will be aware of the Central Bank's Mortgage Arrears Resolution Targets (MART) announced last March which sets time bound and measurable targets for the main banks requiring them to systematically address their arrears book. Under this rolling process, quarterly performance targets have now been set to the end of June 2014 to require the banks to propose and put in place durable...

Written Answers — Department of Finance: Tax Code (4 Feb 2014)

Michael Noonan: I assume the Deputy is referring to the tax treatment of retirement lump sums paid from public service occupational pension schemes. The following arrangements currently apply to retirement lump sums paid under pension arrangements approved by the Revenue Commissioners, and also to retirement lump sums paid from public service occupational pension schemes. - Lump sum amounts up to...

Written Answers — Department of Finance: Tax Code (4 Feb 2014)

Michael Noonan: The Deputy may be aware that this issue was discussed at length during the passage of the recently enacted Finance (No. 2) Act 2013, during which I indicated that I was not prepared to provide for the change at the current time on the grounds of additional cost to the Exchequer. Therefore, the amendment was considered already and I do not propose to revisit the matter...

Written Answers — Department of Finance: Revenue Commissioners Investigations (4 Feb 2014)

Michael Noonan: The Revenue Commissioners are charged with responsibility for collection and recovery of a wide range of taxes and duties. I know that Revenue has a strong focus on making sure that everyone complies with their tax and duty responsibilities by paying the right amount and on time. Revenue expects businesses to continue, notwithstanding the difficult economic circumstances in which they are now...

Written Answers — Department of Finance: Banking Sector Remuneration (4 Feb 2014)

Michael Noonan: As the Deputy will be aware this Government's policy with respect to banking remuneration has been in place since mid-2011. In summary, remuneration in State supported banks is capped at €500,000 (excluding normal pension entitlements) and the payment of bonuses is not permitted. I can confirm that at one of the recent meetings that took place between AIB and...

Written Answers — Department of Finance: Tax Compliance (4 Feb 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that they have been in contact with the former employer concerned.  Revenue requested that he issue Forms P45 to the employees concerned. The former employer confirmed that he will immediately arrange for the issue of the Forms P45 to the relevant individuals.

Written Answers — Department of Finance: Insurance Coverage (4 Feb 2014)

Michael Noonan: At the outset, it should be noted that the issue of flood cover and its unavailability in some instances is one which I am familiar with. I am also very conscious of the difficulties that the absence of such cover can cause to householders and businesses. While the lack of availability of flood insurance affects a relatively small number of people, the consequences for these...

Written Answers — Department of Finance: Tax Rebates (4 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned is jointly assessed with his spouse and that PAYE Balancing Statements in respect of the years 2012 and 2013 issued to the spouse of the named individual on 29/01/2014. The relevant refund cheques will issue shortly.

Written Answers — Department of Finance: Property Taxation Administration (4 Feb 2014)

Michael Noonan: Local Property Tax is due on all residential properties in the State (with limited exemptions), regardless of whether they are occupied by the owner, rented out or unoccupied. Unlike trading activity, in the case of rental activity, taxable income is the gross rent as reduced by a limited number of specified deductions as set out in section 97 (2) TCA 1997. These are:   ...

Written Answers — Department of Finance: IBRC Liquidation (4 Feb 2014)

Michael Noonan: The Irish Bank Resolution Corporation Bill 2013 (the " IBRC Act") was passed by the Dáil on 7 February 2013. The IBRC Act provided for the winding up of IBRC in an orderly and efficient manner in the public interest. On 7 February 2013, I as the Minister for Finance, made an Order pursuant to Section 4 of the IBRC Act providing for the winding-up of IBRC under the provisions...