Results 16,061-16,080 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Collection (26 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 59 and 67 together. I am advised by Revenue that there is ongoing dialogue with the Department of Social Protection (DSP) to ensure the deduction at source payment option in respect of Local Property Tax (LPT) and arrears of Household Charge (HHC) operates as smoothly as possible. The situation referred to in Question [27613] could arise where a weekly...

Written Answers — Department of Finance: Mortgage Interest Rates (26 Jun 2014)

Michael Noonan: Firstly, I must confirm to the Deputy that neither the Central Bank nor I have any responsibility for any variation in the variable mortgage interest rate charged by regulated financial instutions.  The lending institutions in Ireland - including those in which the State has a significant shareholding - are independent commercial entities. I have no statutory role in relation to...

Written Answers — Department of Finance: Corporation Tax (26 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 61 and 62 together. My Department recently published a Technical Paper on Effective Rates of Corporation Tax in Ireland to provide clarity to the Dáil about the seemingly conflicting figures and methodologies.  The Department commissioned an external and independent academic to ensure that this piece of work was as objective as possible.  This...

Written Answers — Department of Finance: Tax Collection (26 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 63 and 64 together. I am advised by Revenue that the debt collection environment continues to be challenging given the ongoing difficult financial environment. In this regard I am assured that Revenue debt management caseworkers are very conscious of the challenges that exist for some taxpayers in meeting their tax obligations in a timely manner. For that...

Written Answers — Department of Finance: Pensions Levy (26 Jun 2014)

Michael Noonan: I announced in my Budget 2014 speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 will be abolished from 31 December 2014. I have, however, introduced an additional levy on pension funds at 0.15% for 2014 and 2015. I am doing this to, among other things, continue to help fund the Jobs Initiative. Finance (No. 2) Act 2013 provides for the application of the...

Written Answers — Department of Finance: Tax Rebates (26 Jun 2014)

Michael Noonan: I am advised by the Revenue Commissioners that Med 1 forms relating to years 2010 to 2013 were received in the name of the taxpayer's spouse, who is a PAYE employee, on 15 April 2014. On checking however, it became apparent that the taxpayer is recorded as the assessable spouse for the married couple, and that he had not submitted self-employed income tax returns for the years since...

Written Answers — Department of Finance: Income Data (26 Jun 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated numbers of income earners earning between €17,000 and €18,000, between €18,000 and €19,000 and between €19,000 and €20,000, by reference to the income tax year 2014, are approximately 41,000, 43,100 and 42,000 respectively (estimated numbers are rounded to the nearest hundred). These...

Written Answers — Department of Finance: Tax Code (26 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 69 to 72, inclusive, together. I assume the Deputy is referring to the "step" effect in the PRSI system which brings all income into charge once the relevant threshold is reached. This occurs because those earning €352 per week are exempted entirely from the charge whereas those who earn more than this pay PRSI at 4% on their full earnings. This...

Written Answers — Department of Finance: Banks Recapitalisation (26 Jun 2014)

Michael Noonan: As the Deputy will be aware the NPRFC undertook an independent valuation exercise for the remaining bank investments in the directed portfolio at the end of December 2013. This valuation included the State's holdings in AIB which were valued at circa. €10bn comprising ordinary shares (€6.5bn) and preference shares (€3.5bn). Separately the Minister holds directly a...

Written Answers — Department of Finance: Banks Recapitalisation (26 Jun 2014)

Michael Noonan: As the Deputy will be aware, if the annual coupon payment of €280m on the State's Preference Shares in AIB is not made in cash, AIB must make the payment in shares. Since the first coupon was due in 2010, as a result of the bank's need to preserve capital, AIB has paid this annual coupon each year in shares as set out below. Year Number of shares issued ...

Written Answers — Department of Finance: Budget Targets (26 Jun 2014)

Michael Noonan: The most up-to-date budgetary estimates, published in the SPU in April, are based on the assumption of a consolidation package of €2.0bn in 2015 which is designed to deliver a deficit of 2.9 per cent of GDP in 2015. This is within the excessive deficit procedure (EDP) ceiling of 3.0 per cent.  The macro-economic forecasts underpinning the SPU have been endorsed by the Irish Fiscal...

Written Answers — Department of Finance: Bank Debt Restructuring (26 Jun 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 on 20 June 2013 agreed on the main features of the...

Written Answers — Department of Finance: Banks Recapitalisation (1 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 109 and 125 together. 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 recapitalise banks directly. It also agreed that the...

Written Answers — Department of Finance: Tax Credits (1 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 110 and 111 together. As you are aware the One-Parent Family Tax Credit (OPFTC) has been replaced with a new Single Person Child Carer Credit 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 includes the same entitlement to the additional €4,000 extended...

Written Answers — Department of Finance: Credit Availability (1 Jul 2014)

Michael Noonan: The provision of credit is governed by legislation including, the Consumer Credit Act 1995 and the European Communities (Consumer Credit Agreements) Regulations 2010.  In addition, Regulated Financial Service Providers must comply with the Consumer Protection Code 2012 when offering, recommending, arranging or providing regulated activities, including mortgages and loans, to consumers. ...

Written Answers — Department of Finance: Financial Services Ombudsman Data (1 Jul 2014)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the carrying out of his duties.  I have no role in the day to day workings of the office or in the decision which he takes. I have been advised by the Office of the Financial Services Ombudsman that it does not categorise complaints under the heading of lenders not complying fully or...

Written Answers — Department of Finance: Banking Operations (1 Jul 2014)

Michael Noonan: Further to my previous answer on 30 April last, my Department has consulted the State supported banks.  In response, the two pillar banks, AIB and Bank of Ireland, have both advised that they currently do not have such a scheme in place in either their PDH or BTL portfolios in the State.  Permanent TSB has advised that it has in place limited bond arrangements in relation to...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (1 Jul 2014)

Michael Noonan: As the Deputy is aware, a Primary Medical Certificate is required to claim the tax reliefs provided under the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme.  The Senior Medical Officer for the relevant local Health Service Executive administrative area makes a professional clinical determination as to whether an individual applicant satisfies the medical criteria to...

Written Answers — Department of Finance: Tax Data (1 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the latest relevant sector based information available on individuals in the taxi industry is derived from Income Tax returns filed for the tax year 2012. These figures are available for self-employed taxpayers only. On this basis, there are approximately 17,500 individuals in the taxi industry that made returns for tax purposes for the tax...

Written Answers — Department of Finance: EU Directives (1 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 117 and 118 together. The requirement to obtain and hold information on beneficial ownership stems from the provisions of the proposed 4th Anti-Money Laundering Directive which seeks to update the 3rd Directive to take account of the February 2012 revision of the international standards for anti-money requirements and the recommendations of the Financial...