Results 18,241-18,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Financial Services Regulation (14 Jan 2015)

Michael Noonan: The credit union sector plays an important role in providing financial services nationally, but in doing so must retain the responsibility of ensuring members' funds are not put at undue risk. While the Department receives many proposals on various issues, my Department received a proposal in August 2014 outlining a plan to establish and operate...

Written Answers — Department of Finance: Consultancy Contracts (14 Jan 2015)

Michael Noonan: The information requested by the Deputy is set out in the table below. Consultancy Firm Amount Strata3  €25,392 Carlos Matos Chaves €759 Red C €117,958 Deloitte LLP €97,935 ESRI €141,262 Seamus Coffey €4,900 Tandem Consulting €10,000 MKF property €28,721 VMForensics €14,804 Central Bank €144,498...

Written Answers — Department of Finance: Disabled Drivers Grant (14 Jan 2015)

Michael Noonan: Section 61 of the Finance Act 2014 amended section 92 of the Finance Act 1989 by removing the requirement, in the Disabled Drivers and Disabled Passengers Scheme, in respect of a disabled passenger, that the cost of vehicle adaptation should be more than 10% of the value of the vehicle excluding tax and duty. This amendment came into effect on 23 December 2014, the day the Finance Act...

Written Answers — Department of Finance: Deposit Interest Rates (14 Jan 2015)

Michael Noonan: Relief from DIRT on savings used by first time buyers towards the deposit on a home was introduced from 14 October 2014.  The estimated cost of the relief at the time of the Budget was €2.8m per year based on an estimate of 9,500 first time buyers. I am advised by the Revenue Commissioners that they are currently planning the development of an online system to allow taxpayers...

Written Answers — Department of Finance: Tax Collection (14 Jan 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they have been in contact with the person's pension provider, which indicated that the person's tax credits were incorrectly applied for the initial pension payments in 2015. The pension provider has confirmed that they have now amended their records and the tax over deducted will be repaid directly to the person concerned. Separately, the...

Written Answers — Department of Finance: Exchequer Returns (14 Jan 2015)

Michael Noonan: The information requested by the Deputy is published as part of the Exchequer returns process and is displayed on the second page of the Exchequer Statement under non-tax revenue. For convenience the requested information is reproduced in the table below. The figure of €10.701 million under the heading of "Other Dividends" has also been expanded to show the source of the dividends. ...

Written Answers — Department of Finance: Exchequer Returns (14 Jan 2015)

Michael Noonan: The End December 2014 Exchequer Statement included capital receipts of €405 million under the heading "National Lottery License payment". This amount was paid by Premier Lotteries Ireland Limited for the licence to operate the National Lottery. Further capital receipts of €1.86 million were received under the heading "Sale of State Property". These receipts are broken down as...

Written Answers — Department of Finance: Property Tax Yield (14 Jan 2015)

Michael Noonan: €491 million was collected in Local Property Tax (LPT) receipts in 2014 against a Budget 2014 forecast target of €550 million. The Budget 2014 forecast assumed that prepayments in 2014 of 2015 LPT liabilities would be similar to the significant pre-payments for 2014 liabilities of c. €75 million that were made in November and...

Written Answers — Department of Finance: Tax Code (14 Jan 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the estimated annual Exchequer cost of reducing the excise duty on petrol and diesel by 10% is around €96m and €127m respectively. The impact per litre is shown in the following table: Current Total Excise & Carbon Average Price Average Price Reduction Less Reduction Per Litre (VAT inclusive) Per Litre Cent Cent...

Written Answers — Department of Finance: Local Government Fund (14 Jan 2015)

Michael Noonan: Section 157 of the Finance (Local Property Tax) Act 2012, as amended, provides that, in each financial year commencing with 2014, the Minister shall pay from the Central Fund or the growing produce thereof into the Local Government Fund an amount equivalent to the Local Property Tax (LPT), including any interest paid thereon, paid into the Central Fund during that year. During 2014, the...

Written Answers — Department of Finance: IBRC Liquidation (14 Jan 2015)

Michael Noonan: As part of the liquidation of the Irish Bank Resolution Corporation (IBRC) on 6 February 2013, the Central Bank of Ireland acquired €25.034 billion  long-dated Irish Government Floating Rate Notes (FRNs) and €3.461 billion of the Irish Government 2025 Fixed Rate Bond.  The table below sets out the various notes, the applicable interest rate, the maturity date for...

Written Answers — Department of Finance: EU Directives (14 Jan 2015)

Michael Noonan: I am setting out, in tabular format, the EU Directives which remain to be implemented by my Department. Directive Transposition Deadline Additional Comments 2009/138 Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance 31/03/2015 2013/50 Directive 2013/50/EU of the European...

Written Answers — Department of Finance: Departmental Staff (14 Jan 2015)

Michael Noonan: I wish to inform the Deputy that 1 member of staff of my Department was seconded to PWC during the years 2010 to date in 2015. I am advised by the Revenue Commissioners that there have been no such secondment arrangements in respect of the periods referred to.

Written Answers — Department of Finance: Departmental Staff (14 Jan 2015)

Michael Noonan: I wish to advise the Deputy that currently there are 6 people on secondment to my Department from external accountancy firms and consultancy firms. The firms involved are AIB, PWC, A&L Goodbody, Dillon Eustace, Matheson and the Irish Funds Industry. These secondments supplement the skills and numbers in key/critical areas of my Department. I am advised by the Revenue Commissioners...

Written Answers — Department of Finance: Legislative Process (14 Jan 2015)

Michael Noonan: Following changes to Standing Orders (agreed by the Dáil on 17 October 2013), Ministers are now required, except in exceptional circumstances, to bring the general scheme or draft heads of a Bill to a Select Committee for consideration. Committees are empowered to consider the draft Heads of Bills but they are not required to do soit is the Committee's prerogative to decide on a case...

Written Answers — Department of Finance: Legislative Process (14 Jan 2015)

Michael Noonan: A total of nine bills have been initiated by the Department of Finance since September 2013. The table below provides details of the number, name and date initiated of each Bill. Number of Bill Name of Bill Date initiated 102 of 2013 Finance (No. 2) Bill 2013 24 October 2013 27 of 2014 Central Bank Bill 2014 7 April 2014 44 of 2014 National Treasury Management Agency (Amendment) Bill...

Customs Bill 2014: Order for Second Stage (15 Jan 2015)

Michael Noonan: I move: "That Second Stage be taken now."

Customs Bill 2014: Second Stage (15 Jan 2015)

Michael Noonan: I move: "That the Bill be now read a Second Time." The Customs Bill 2014 was published on 3 October 2014. The purpose of the Bill is to consolidate, revise and modernise Ireland's existing national customs legislation, some of which dates back to the Customs Consolidation Act 1876. The Bill can thus be seen as another significant milestone in Revenue's comprehensive programme of...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (15 Jan 2015)

Michael Noonan: The Special Liquidators confirm that all debts owing to Irish Bank Resolution Corporation Limited (in Special Liquidation) whilst under their remit, remain due and payable in accordance with their terms. I am advised that remaining mortgage holders with IBRC are permitted to buy-out their mortgage at par value and that there are no legislative barriers for such borrowers to do so. ...

Written Answers — Department of Finance: Bank Charges (15 Jan 2015)

Michael Noonan: While all credit institutions in Ireland are independent commercial entities and I have no statutory role in relation to the charges applied by credit institutions, section 149 of the Consumer Credit Act 1995 requires that credit institutions, prescribed credit institutions and bureaux de change must make a submission to the Central Bank if they wish to introduce any new...