Results 18,361-18,380 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Collection (27 Jan 2015)

Michael Noonan: Under Section 257 of the Taxes Consolidation Act 1997 all deposit takers are obliged to deduct Deposit Interest Retention Tax (DIRT) from payments of interest made to an account unless the account qualifies as an exempt account. There is no specific exemption in the case of interest paid on deposit accounts held by children. The wider tax code does not provide for an exemption from tax for...

Written Answers — Department of Finance: Tax Collection (27 Jan 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that according to their records, the person concerned ceased employment in August 2014 and is not currently employed. The Revenue Commissioners are writing to the person concerned to confirm the position and will arrange for a tax credit certificate to be issued, if required.

Written Answers — Department of Finance: State Banking Sector (27 Jan 2015)

Michael Noonan: As the Deputy will be aware the Irish banking system is now in a much stronger position than it was even a year ago. Profits are recovering, balance sheets have been restructured and we have started the process of returning cash to the taxpayer following the huge investments that were made over the 2009-11 period.  Much of the banking-related work in the Department of...

Written Answers — Department of Finance: Mortgage Lending (27 Jan 2015)

Michael Noonan: I am informed by the Central Bank that the proposed macro prudential regulations in relation to residential mortgage lending will not apply to local authority mortgages as they are not provided by  "regulated financial service providers" within the meaning of Section 2 of the Central Bank Act 1942.

Written Answers — Department of Finance: Pension Provisions (27 Jan 2015)

Michael Noonan: Tax legislation provides for a limit or ceiling on the total capital value of tax-relieved pension benefits that an individual can draw down in their lifetime from all of their supplementary pension arrangements. This is known as the Standard Fund Threshold or SFT and was introduced on 7 December 2005 and amended since (most recently in Finance (No 2) Act 2013 which, among other things,...

Written Answers — Department of Finance: Tax Rebates (28 Jan 2015)

Michael Noonan: I am advised by the Revenue Commissioners that Limerick District has written to the person concerned requesting the information necessary to determine whether any tax refund is due. On receipt of this information the matter will be dealt with as soon as possible.

Written Answers — Department of Finance: Tax Reliefs Eligibility (28 Jan 2015)

Michael Noonan: The exemption from Local Property Tax (LPT) based on "significant pyritic damage" was comprehensively dealt with in a number of Parliamentary Questions last year, including Questions no. 217 (8212/14) on 18/2/14, no. 121 (19698/14) on 30/4/14, no. 43 (26462/14) on 19/6/14, no. 14 (37016/14) on 2/10/14 and no. 38 (41718/14) on 5/11/2014. Section 10A of the Finance (Local Property Tax) Act...

Written Answers — Department of Finance: Tax Yield (28 Jan 2015)

Michael Noonan: I dealt comprehensively with the issue of profits and tax yields from the thoroughbred breeding industry, including stallion fees, in my recent replies to questions, including Questions 157 to 160 on 18 November last year and Question 177 on 9 December last.  In these replies, I explained that there was a range of variables associated with the stallions industry and that profits...

Written Answers — Department of Finance: Fuel Quality (28 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 50 and 52 together. I am advised by the Revenue Commissioners, who are responsible for tackling fuel fraud, that they are very aware of the risks posed to consumers' vehicles, legitimate businesses and the Exchequer by all forms of fuel fraud. Revenue has, since last summer, received reports from a variety of locations around the country of problems relating...

Written Answers — Department of Finance: Banking Sector (28 Jan 2015)

Michael Noonan: I have been informed by Minister of State Harris that he met with Cathaoirleach and CEO of Leitrim County Council in November regarding the MBNA closure, there were also EI and IDA representatives present.  Minister of State Harris, in his role regarding international banking, is currently developing an International Financial Services Strategy.  A key feature of...

Written Answers — Department of Finance: Tax Data (28 Jan 2015)

Michael Noonan: The relevant report for the tax year 2012 was published and laid before the Oireachtas on Budget Day, 14 October 2014. A copy of the report can be found on the Department of Finance website at . In relation to the report for the tax year 2013, income tax returns for that year were filed in November 2014 and are currently being processed. As a result, the report for...

Written Answers — Department of Finance: State Banking Sector (29 Jan 2015)

Michael Noonan: As per the most recent publicly available financial information, the deferred tax assets at each of the banks at 30 June 2014 were Allied Irish Banks: €4.0bn; Bank of Ireland: €1.7bn; Permanent tsb: €0.4bn.

Written Answers — Department of Finance: Banking Sector (29 Jan 2015)

Michael Noonan: Permanent TSB has informed me that in line with standard market practice for a capital markets transaction of this nature, they have appointed a number of key financial, legal and accounting advisors to advise on significant aspects of the transaction.  These advisors are: Deutsche Bank, Davy, A&L Goodbody, Clifford Chance, Allen & Overy, KPMG and PwC. As the...

Written Answers — Department of Finance: Central Bank of Ireland Transactions (29 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 52, 57, 58, 60 and 65 together. At the outset, I want to stress that the formulation of monetary policy in the euro area both its design and implementation is a matter for the Eurosystem, which comprises the European Central Bank (ECB) and the nineteen National Central Banks of the participating Member States. Under the Treaty,...

Written Answers — Department of Finance: NAMA Portfolio (29 Jan 2015)

Michael Noonan: I will expand upon my answer to Parliamentary Question No. 252 of 20 January 2015. I am advised by NAMA that of the approximately 14,000 completed residential units currently within the Agency's portfolio, approximately 9,000 are rented in the private rental market.  The remaining 5,000 are either (a) let or reserved for social housing or (b) are available on the open market...

Written Answers — Department of Finance: Sovereign Debt (29 Jan 2015)

Michael Noonan: Since May 2010, the euro area Member States and the International Monetary Fund (IMF) have been providing financial support to Greece through an Economic Adjustment Programme in the context of a sharp deterioration in its financing conditions. The Eurogroup agreed to activate stability support to Greece via bilateral loans centrally pooled by the European Commission. At year-end 31 December...

Written Answers — Department of Finance: EU Meetings (29 Jan 2015)

Michael Noonan: As I pointed out previously, my view is that when countries encounter difficulties, a process of negotiation is always better than one of conflict. Specifically in the case of euro area Member States, all programme negotiations have been conducted within the Eurogroup and Ecofin, with IMF involvement as appropriate.  My view is that these are the appropriate fora for resolving...

Written Answers — Department of Finance: Government Bonds (29 Jan 2015)

Michael Noonan: I propose to take Questions Nos. 56 and 59 together. The National Treasury Management Agency (NTMA) is responsible for borrowing on behalf of the Government. On 22 December 2014, the NTMA announced that it plans to issue €12 to €15 billion of long-term bonds over the course of 2015. As a first step in that process, the NTMA, on 7 January 2015, raised €4 billion...

Written Answers — Department of Finance: Tax Code (29 Jan 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that the gross amounts listed on forms CA 24 filed with Revenue as property in the State passing under the will or intestacy of the deceased and as property outside the State passing under the will or intestacy of the deceased for the years 2008 to June 2010 are as set out below. Gross amounts of PropertyForm CA24 (€ million) Year ...

Written Answers — Department of Finance: VAT Rate Application (29 Jan 2015)

Michael Noonan: Due to the complexity of the question asked by Deputy Shortall it has not been possible to respond in the time available. I have asked my officials to work with their Revenue colleagues with a view to providing an answer to Deputy Shortall as soon as possible.