Results 17,521-17,540 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Operations (11 Nov 2014)

Michael Noonan: The Central Bank is the relevant authority for such a matter and has provided me with the following response. There is insufficient information provided to give an informed response. However from the very limited reference to the product, we understand that the product was aimed at experienced investors seeking growth as the product invested in the stock market and investors also had...

Written Answers — Department of Finance: Financial Services Ombudsman (11 Nov 2014)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions.  However, I have been informed by the Financial Services Ombudsman's Bureau (FSOB) that it acts in an impartial manner and when dealing with unresolved disputes between a consumer and a financial service provider the FSOB does not advise either party. I...

Written Answers — Department of Finance: Financial Services Ombudsman Data (11 Nov 2014)

Michael Noonan: At the outset, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions. However, the Financial Services Ombudsman has informed me that the information requested by the Deputy is as follows (I have assumed that the Deputy wishes to refer to complaints closed during the particular years):- Total Complaints closed Oral Hearings...

Written Answers — Department of Finance: Mortgage Data (11 Nov 2014)

Michael Noonan: The Deputy will be aware that the Central Bank's Code of Conduct on Mortgage Arrears (CCMA) is a statutory Code issued under Section 117 of the Central Bank Act 1989 and lenders are required to comply with the CCMA as a matter of law.  The CCMA applies to the mortgage lending activities of all regulated entities, with the exception of credit unions, operating in the...

Written Answers — Department of Finance: Mortgage Data (11 Nov 2014)

Michael Noonan: The Central Bank has advised that there is no such regulated category as 'sub-prime' lender but that phrase is sometimes used to refer to some non-deposit taking 'retail credit firms'. Retail credit firms are a regulated category of entities which are authorised to provide credit (in the form of cash loans) directly to individuals. Some firms authorised in this category are mortgage...

Written Answers — Department of Finance: Mortgage Resolution Processes (11 Nov 2014)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (CCMA) is a statutory Code issued under Section 117 of the Central Bank Act 1989 and lenders are required to comply with the CCMA as a matter of law. The Central Bank has advised that it does not publish statistics in relation to the number of complaints against banks for non-compliance with the CCMA. However, it is planning to test...

Membership of Houses of the Oireachtas Commission: Motion (12 Nov 2014)

Michael Noonan: I move:That Dáil Éireann, under section 8 of the Houses of the Oireachtas Commission Act 2003, as amended, appoints Deputy Olivia Mitchell to be an ordinary member of the Houses of the Oireachtas Commission in place of Deputy Frank Feighan who has resigned his office in accordance with the aforementioned section 8.

Finance Bill 2014: Financial Resolutions (12 Nov 2014)

Michael Noonan: I move:1.THAT section 531AN of the Taxes Consolidation Act 1997 (No. 39 of 1997), which provides for the rate of charge of the universal social charge, be amended in the manner and to the extent specified in the Act giving effect to this Resolution. 2. THAT Schedule 13 to the Taxes Consolidation Act 1997 (No. 39 of 1997), which contains the list of accountable persons for the purposes of...

Written Answers — Department of Finance: Budget Measures (12 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 53 and 57 together. A very detailed distributional analysis was published in Sections B1 to B26 in this year's Budget Book. This analysis was undertaken by the Department of Finance and sets out the distributional impact of tax measures and child benefit increases over a range of thirteen income levels and across six family...

Written Answers — Department of Finance: Tax Code (12 Nov 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the settlement of tax, interest and penalties with individuals and companies in the context of a Revenue audit or other risk management intervention will include agreeing the necessary arrangements to recover any amounts underpaid.  However, in some cases an "Inability to Pay" claim may be made by the taxpayer.  For the years 2011 to...

Written Answers — Department of Finance: Universal Social Charge Exemptions (12 Nov 2014)

Michael Noonan: As a general rule, a non-resident individual who carries on a trade or profession in the State is liable to income tax and universal social charge (USC) on the profits therefrom. However, if the individual is resident in a state with which Ireland has a double taxation treaty, the profits are only liable to Irish income tax and USC if the trade or profession is carried on through a permanent...

Written Answers — Department of Finance: Urban Renewal Schemes (12 Nov 2014)

Michael Noonan: The Deputy may be aware of the Living City Initiative, which was enacted in the Finance Act 2013, and includes the cities of Dublin, Cork, Galway and Kilkenny as well the original target cities of Limerick and Waterford. The Living City Initiative is a targeted pilot tax incentive which aims to: encourage people back to the centre of Irish cities to live in older buildings; and encourage...

Written Answers — Department of Finance: Tax Credits (12 Nov 2014)

Michael Noonan: As the Deputy will be aware, the Single Person Child Carer Credit is, in the first instance, only available to the primary carer of the child. The person who cares for the child for most of the year is entitled to the credit in the first instance. Agreement as to who will be the primary carer of a child is a matter for the parents or guardians. However, only the primary carer is...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (12 Nov 2014)

Michael Noonan: The Special Liquidators continue to implement the orderly and efficient wind down of IBRC in accordance with the provisions of the IBRC Act and the instructions issued by the Minister for Finance under the IBRC Act 2013. As the Deputy is aware, for operational reasons, the loan assets of IBRC were divided into six portfolios: Evergreen, Sand, Rock, Salt, Stone and Pebble. The Sand...

Written Answers — Department of Finance: Departmental Staff Recruitment (13 Nov 2014)

Michael Noonan: I wish to inform the Deputy that at the request of the Top Level Appointments Committee (TLAC), the post was openly advertised by PAS on 28 October 2011 in the Irish Times and closed on 24 November 2011.  1,700 job alerts were sent from to people with a registered interest in this area.  The field was strengthened through executive search procedures within PAS and with the...

Written Answers — Department of Finance: Deposit Interest Rates (13 Nov 2014)

Michael Noonan: In recent years the DIRT rate has been increased to raise additional revenue, and  all deposit interest is now liable to DIRT at a rate of 41%. Previous DIRT rates were below the higher rate of income tax, and this, in effect, incentivised saving.  The decision to raise the rate of DIRT was taken to encourage spending in the economy with a view to...

Written Answers — Department of Finance: Tax Code (13 Nov 2014)

Michael Noonan: I have considered the proposal for the introduction of a tax relief for Graduate Entry Medicine (GEM) loans and I do not consider that the tax system is the appropriate way to address the affordability of the GEM programme. The affordability and funding of undergraduate medical education is in the first instance a matter for the Department of Education and Skills, having due regard to the...

Written Answers — Department of Finance: NAMA Property Sales (13 Nov 2014)

Michael Noonan: I note that the Deputy has provided no detail to support this allegation.  NAMA's policy is that the sale of all loans and the sale of properties by debtors and receivers should be openly marketed to ensure that the best price available in the market is achieved in all instances.  NAMA has provided extensive information on the conduct of both loan sales and the sale of properties by...

Written Answers — Department of Finance: Property Taxation Administration (13 Nov 2014)

Michael Noonan: I am advised by Revenue that the person to whom the Deputy refers has availed of a 'Partial Deferral' (50%) of Local Property Tax (LPT) in respect of her liabilities for 2013, 2014, 2015 and 2016 and is meeting the balance through deduction at source (DAS) from her Department of Social Protection (DSP) payment. Her entitlement to such a deferral arises from her income threshold level. ...

Written Answers — Department of Finance: Tobacco Smuggling (13 Nov 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the scale of the illicit cigarette market in Ireland is estimated through annual surveys undertaken, for them and the National Tobacco Control Office of the Health Services Executive, by Ipsos MRBI. The most recent survey, undertaken in 2013, indicated that 11% of the cigarettes consumed in Ireland were illicit, and that a further 5% were non...