Results 14,521-14,540 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Availability (25 Feb 2014)

Michael Noonan: I assume the Deputy is referring the  announcement made by the Taoiseach in this House in November  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...

Written Answers — Department of Finance: Tax Credits (25 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the cost to the Exchequer of extending the PAYE credit to the self employed and proprietary directors is estimated at €450 million in a full year. These figures are estimates from the Revenue tax forecasting model using the latest actual data for the year 2011, adjusted as necessary for income and employment trends in the interim. They...

Written Answers — Department of Finance: Credit Review Office Reports (25 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: Tax Credits (25 Feb 2014)

Michael Noonan: I am informed by the Revenue Commissioners that 2011 is the most recent year for which final information is available on the numbers of taxpayers availing of the rent tax credit mentioned by the Deputy. It is expected that 2012 information will be available later this year. There are 179,600 availing of the credit for the income tax year 2011.A married couple who has elected or has been...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Data (25 Feb 2014)

Michael Noonan: As the Deputy will be 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. It provides for 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...

Written Answers — Department of Finance: Start Your Own Business Initiative (25 Feb 2014)

Michael Noonan: As the Deputy is aware, I announced the Start Your Own Business initiative, which provides an exemption from Income Tax for individuals who have been unemployed for a period of 12 months and who start a new, un-incorporated business between 25 October 2013 and 31 December 2016. An exemption from Income Tax will be provided on profits up to a maximum of €40,000 per annum for the first...

Written Answers — Department of Finance: Mortgage Protection Policies (25 Feb 2014)

Michael Noonan: Section 126 of the Consumer Credit Act 1995 requires that, subject to certain exemptions set out in the Act, "a mortgage lender shall arrange a life assurance policy providing, in the event of the death of a borrower before a housing loan made by the mortgage lender has been repaid, for payment of a sum equal to the amount of the principal estimated by the mortgage lender to be outstanding in...

Written Answers — Department of Finance: VAT Payments (25 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 210 and 211 together. I am advised by the Revenue Commissioners that the hosting and registration of domain names is considered to be an electronically supplied service for VAT purposes.  Such electronically supplied services, which include website supply and web-hosting, are liable to VAT at the standard rate, currently 23% in Ireland. The VAT rating...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (25 Feb 2014)

Michael Noonan: It is important to highlight that the contractual terms and conditions of all customer mortgages and other borrowings have not changed as a result of the appointment of the Special Liquidators nor will those terms and conditions change as a result of the ultimate sale of these obligations to a third party. Purchasers of mortgage loans will be required to honour the legal terms...

Written Answers — Department of Finance: IBRC Liquidation (25 Feb 2014)

Michael Noonan: The primary duty of the Special Liquidators is to the creditors of IBRC and not to KPMG. I fully expect that the actions they take are taken in the best interests of the liquidation and I do not propose to intervene in matters such as these. As this is a matter that is currently before the Courts i am not in a position to comment any further on it.

Written Answers — Department of Finance: Bank Branch Closures (25 Feb 2014)

Michael Noonan: The Deputy will be aware that following the review by the UK Treasury in Autumn 2013, RBS reaffirmed its commitment to the Irish market. RBS is currently reviewing the operations of Ulster Bank in Ireland with a view to creating a sustainable business model. My Department has engaged with the UK Treasury as part of the Treasury review and I also recently met...

Written Answers — Department of Finance: Financial Services Ombudsman Issues (25 Feb 2014)

Michael Noonan: One of the main roles of the Financial Services Ombudsman is to investigate, mediate and adjudicate complaints about the conduct of regulated financial service providers so a consumer who has a complaint about an unregulated entity cannot take this complaint to the Financial Services Ombudsman. Such a consumer would have recourse to the Courts in the usual manner. As I said in my...

Written Answers — Department of Finance: Bank Branch Closures (25 Feb 2014)

Michael Noonan: My Department has received a number of representations from Ulster Bank employees and their representative organisation on this matter, similar to the letter provided by the Deputy. The Deputy will be aware that following the review by the UK Treasury in Autumn 2013, RBS reaffirmed its commitment to the Irish market. RBS is currently reviewing the operations of Ulster Bank in...

Written Answers — Department of Finance: Departmental Staff Data (25 Feb 2014)

Michael Noonan: My Department currently has 18 staff seconded from external companies the breakdown of which is outlined as follows. Organization seconded from Role in Finance Number AIB Specialist, Financial Stability, Risk and Communications Office 1 Irish Funds Industry Specialist, Financial Services Division 1 RPA Specialist, Project Management Office 1 NESDO Specialist, Banking Division 1 NTMA...

Written Answers — Department of Finance: Black Economy Issues (25 Feb 2014)

Michael Noonan: The illicit sale of goods and other shadow economy practices are matters that concern me greatly and I am very mindful of the loss of revenue to the State and the unfair competitive advantage to be gained by those businesses engaged in unregistered and illicit trading.  The Deputy will be aware that I introduced a range of measures in Finance (No. 2) Act 2013 which was specifically aimed...

Written Answers — Department of Finance: Tax Credits (25 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the couple's circumstances changed for 2014 resulting in reduced tax credits and hence a higher tax payment. The couple are jointly assessed and in receipt of both an occupational pension and taxable Department of Social Protection (DSP) payments.  The tax in respect of the DSP payments is collected through reduction of the tax credits...

Written Answers — Department of Finance: Banking Sector Issues (25 Feb 2014)

Michael Noonan: The Report on the Pilot project on the Standard Bank Account was published on my Department's website on 10 January last. The Pilot Project involved the 3 Irish retail banks - Allied Irish Banks, Bank of Ireland and permanent tsb. It is intended that those institutions will be involved in the roll out of the Standard Bank Account.  It will not necessarily be the case that the...

Written Answers — Department of Finance: Fuel Laundering (25 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners that they are committed to serving the community by fairly and efficiently collecting taxes and duties and implementing Customs controls. Any person who is detected using or keeping Marked Mineral Oil in a motor vehicle can submit, in writing, an outline of the circumstances giving rise to the detection. The matter will be investigated and the...

Allegations in relation to An Garda Síochána: Statements (26 Feb 2014)

Michael Noonan: Was it discussed when Deputy Martin was in government?

Allegations in relation to An Garda Síochána: Statements (26 Feb 2014)

Michael Noonan: It is okay. I am going.