Results 15,141-15,160 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: It would appear that the net point being suggested in the correspondence is that capital gains tax relief be introduced for farmers in respect of the sale by them of certain shares in a food company, where the proceeds of sale are used to make capital investments in their farms. The current rate of capital gains tax was set in Budget 2013 as part of an overall budgetary strategy to generate...

Written Answers — Department of Finance: Payment Protection Insurance Policies (15 Apr 2014)

Michael Noonan: The Central Bank has informed me that, in accordance with section 33AK of the Central Bank Act 1942, the Central Bank is prohibited from disclosing confidential information concerning the business of a credit institution otherwise than in accordance with the Supervisory Directives (which include the Directive 2013/36/EU). On the issue more generally, the Central Bank issued a report on 7...

Written Answers — Department of Finance: IBRC Staff (15 Apr 2014)

Michael Noonan: I have been advised by the Special Liquidators that, as in any liquidation, the employees of IBRC were entitled to apply for a statutory redundancy payment, a payment in respect of accrued but unused annual leave and a statutory notice payment, subject to the limits prescribed by statute. The Special Liquidators confirm that employees have now received these payments. The option to support...

Written Answers — Department of Finance: Financial Services Ombudsman Issues (15 Apr 2014)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman (FSO) is independent in the carrying out of his duties.  It would not be appropriate for me to comment on how he performs his duties. Where the FSO has issued findings including a direction requiring action by the Financial Services Provider (FSP), the FSO has informed me that, to date, there has been a very high...

Written Answers — Department of Finance: Motor Industry Issues (15 Apr 2014)

Michael Noonan: In their 2014 pre-Budget submissions, SIMI called for the introduction of a "swappage scheme" to support the car industry. The proposal was considered at the time but given budgetary constraints was not proceeded with. It is open to the industry to bring forward such proposals for consideration in Budget 2015. However, in this context, the Deputy will be aware...

Written Answers — Department of Finance: Tax Forms (15 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that, according to their records, the person concerned is neither self employed nor has he held an employment in the last ten years.   Revenue is not in a position to issue notices of assessment until the person in question makes a tax return.  However, depending on the circumstances it may be that some other form of evidence will be...

Written Answers — Department of Finance: Tax Exemptions (15 Apr 2014)

Michael Noonan: I am advised by Revenue that for reasons of taxpayer confidentiality it cannot comment upon the tax affairs of individual bodies. However, Revenue has also informed me that in order to avail of a charitable tax exemption a body or trust must be established for charitable purposes only and must apply all of its income to charitable purposes. I am assured that procedures are in place to...

Written Answers — Department of Finance: Financial Services Ombudsman Staff (15 Apr 2014)

Michael Noonan: The Financial Services Ombudsman s Bureau was established under the Central Bank and Financial Services Authority of Ireland Act, 2004. The legislation provides for an independent, impartial investigation and resolution of disputes between consumers and Financial Service Providers. I have been advised by the Financial Services Ombudsman  that the staff of the Bureau is composed...

Written Answers — Department of Finance: Consumer Protection (15 Apr 2014)

Michael Noonan: The Markets in Financial Instruments Directive regime provides common consumer protection in relation to investment services and financial markets throughout the European Union. The nature of individual investment products is often complicated and it is prudent for non expert investors to take professional advice. In advance of investing in investment products consumers should ensure...

Written Answers — Department of Finance: Deposit Protection Scheme Issuse (15 Apr 2014)

Michael Noonan: The Central Bank of Ireland is responsible for the operation of the Deposit Protection (Guarantee) Scheme (DGS), which covers licensed credit institutions operating in the State.  Each credit institution covered by the DGS is required to maintain a balance in the Deposit Protection Account (DPA) equivalent to 0.2% of their total deposits in order to fund the DGS. I am advised by...

Written Answers — Department of Finance: National Car Test (15 Apr 2014)

Michael Noonan: I am informed by the Revenue Commissioners that Section 131, Finance Act 1992 provides that the Commissioners may appoint a competent person to carry out certain functions relating to the registration of vehicles in the State.  With effect from 1 September 2010, Applus Car Testing Service Limited was appointed as the competent person to carry out these VRT-related functions through their...

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

Michael Noonan: I assume that the Deputy refers to an extension of the standard rate income tax band, which would apply similarly to single and widowed persons, as well as to single person child carers. The proposed extension to the standard rate band is assumed to also apply to married couples and civil partnerships. On this basis, I am informed by the Revenue Commissioners that the full year cost to the...

Written Answers — Department of Finance: Bank IT Systems (15 Apr 2014)

Michael Noonan: Customers have a legitimate expectation of high quality, uninterrupted services, whether provided through traditional or online channels. It is my role as Minister for Finance to put in place an appropriate legislative framework for the regulation of the financial services sector. The Central Bank is responsible for prudential supervision and financial regulation including consumer...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: I thank the Chairman for inviting me to appear before the committee to discuss Ireland's Stability Programme - April 2014 Update. The document was approved by the Government earlier today, with this meeting being the first public engagement on the update. In a new departure, the Government is making the document available in draft form with a view to facilitating constructive and robust...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: No. It is the practice in Europe to involve Parliament more than was the case previously. One of the reasons it is in draft form is that any acute observations made here can be incorporated in the final draft which will then be sent to the Commission at the end of April.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: We had to think it out for ourselves in the main. The Chairman and I were involved in much of the conversations. It is not possible, in my view, to have a currency union which does not have a fiscal union or something very close to it because there is always the risk that countries within the currency union which do not obey moderate fiscal rules will drag down everyone else. The move...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: Yes, I would be surprised if we did not because there is no shortage of advice in Europe.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: They may be of a general nature.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: Yes, I see them as being more general.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Michael Noonan: What has happened previously at the semester hearings I attended was that countries were obliged to comply.