Results 18,921-18,940 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Arrears Rate (3 Mar 2015)

Michael Noonan: I am informed by the Central Bank of Ireland (CBI) that the figures in Figure 11 of the report, published on Wednesday 25 February, comes from the Central Bank's loan level data (LLD). The Figure outlines the percentage of loans that were in default by county in June 2014 from the Central Bank LLD. This dataset provides information from a limited number of banks and as such does...

Written Answers — Department of Finance: Government Deficit (3 Mar 2015)

Michael Noonan: In terms of economic growth underpinning the Budget 2015 forecast, real GDP is forecast to grow at 3.9% in 2015 while nominal GDP, which is a recognised proxy in relation to the growth of taxes and also the denominator used in the deficit/GDP ratio, is forecast to grow at 5.3%. There is no simple answer with regard to the impact of different headline growth rates on the deficit...

Written Answers — Department of Finance: Banking Sector (3 Mar 2015)

Michael Noonan: Officials of my Department have met with representatives of the Public Banking Forum and have received presentations from them. While my Department is interested in the potential of the proposal from the Public Banking Forum, I understand that the Forum will be providing a more developed proposal to me in the coming weeks which can better articulate the role public banking can play...

Written Answers — Department of Finance: Departmental Legal Costs (3 Mar 2015)

Michael Noonan: The information requested by the Deputy is set out below. Department of Finance: A panel of three legal advisors novated from the NTMA to the Department of Finance with effect from 1 January 2012 and was in place until March 2014. This panel included only one of the solicitors firms referred to in the question. The procurement for legal advisors was carried out by the Banking Unit in the...

Written Answers — Department of Finance: Tax Code (3 Mar 2015)

Michael Noonan: The rate of capital gains tax (CGT) is 33% and has been increased four times since 2008 when it stood at 20%. These rate increases were necessary to protect the yield from CGT in the context of the required rebalancing of the public finances over that time. In the circumstances, increases in the taxation of capital were considered preferable from the point of view of the impact on the economy...

Written Answers — Department of Finance: Universal Social Charge Exemptions (3 Mar 2015)

Michael Noonan: There is no universal social charge payable by employers and thus there is no potential for a reduction in it.

Written Answers — Department of Finance: Mortgage Arrears Rate (3 Mar 2015)

Michael Noonan: I am informed by the Central Bank of Ireland (CBI) that the CBI's Residential Mortgage Arrears and Repossession Statistics are published quarterly. The last publication was for end-Q3 2014 and is available here: . The Residential Mortgage Arrears and Repossessions Statistics are collected from a large number of reporting institutions and are designed to capture all mortgage loans secured...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (3 Mar 2015)

Michael Noonan: I am aware that the Ombudsman wrote to the Secretary General of my Department and made comments regarding the eligibility criteria of the Disabled Driver and Disabled Passengers Scheme. The Ombudsman did not say that the criteria were discriminatory but that in his opinion they were narrowly focused and prescriptive. The Scheme and qualifying criteria were designed specifically...

Written Answers — Department of Finance: Banking Sector Regulation (3 Mar 2015)

Michael Noonan: The Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 was published in January and second stage of the Bill was taken in the Dáil on 4 February. Since then, my officials have been in contact with the Central Bank and with the Office of the Attorney General to further progress the legislation. It remains my intention to ensure that borrowers whose loans are sold by a...

Written Answers — Department of Finance: Mortgage to Rent Scheme Eligibility (3 Mar 2015)

Michael Noonan: The administration of the Mortgage To Rent (MTR) scheme falls under the responsibility of Mr Alan Kelly TD, Minister for the Environment, Community and Local Government. I have no role in setting the valuation of properties for the MTR Scheme. All MTR operators are bound by the existing MTR Scheme introduced by the Minister for the Environment in response to a recommendation in the...

Written Answers — Department of Finance: VAT Rate Application (4 Mar 2015)

Michael Noonan: The VAT rating of goods and services is constrained by the requirements of EU VAT law with which Irish VAT law must comply.  Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate of 23%. Parts or accessories and training are also liable to VAT at the standard rate. There is no provision in the EU VAT Directive that would make it possible to...

Written Answers — Department of Finance: Disabled Drivers Grant Appeals (4 Mar 2015)

Michael Noonan: The legislation governing the Drivers & Passengers with Disabilities Scheme is contained in Section 92 of the Finance Act 1989 (as amended), Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No. 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994).  Full details of the scheme, including the legislative criteria...

Written Answers — Department of Finance: Revenue Commissioners Investigations (4 Mar 2015)

Michael Noonan: Details of the investigation undertaken by the Revenue Commissioners in relation to accounts held with HSBC Bank, Geneva were given in my reply to the Deputy's Questions Nos. 79 to 81, inclusive, of 25 February 2015. This investigation has led to three prosecutions and convictions for tax-related offences, and a further case remains under investigation. The numbers of convictions for...

Written Answers — Department of Finance: Tax Compliance (4 Mar 2015)

Michael Noonan: I am informed by the Revenue Commissioners that where a person has profit income from the letting of accommodation to, or the hosting of, tourists, the profit is regarded as taxable income which must be included in that person's annual tax return. Revenue's compliance programmes cover a wide variety of business sectors including the hotel, bed & breakfast and rental sector. ...

Written Answers — Department of Finance: Tax Forms (4 Mar 2015)

Michael Noonan: I am informed by the Revenue Commissioners that, with effect from January 2012, the paper based Relevant Contracts Tax system was replaced by an electronic Relevant Contracts Tax (eRCT) system.  Interactions between principal contractors and Revenue as regards Relevant Contracts Tax are now by way of electronic means.  Under the eRCT system, a principal contractor is obliged to...

Written Answers — Department of Finance: VAT Rebates (4 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that there are no outstanding VAT repayments waiting to be processed for the person concerned. All VAT repayments due to the person concerned have either already been repaid or otherwise offset against his other tax liabilities.   If the person concerned wishes to discuss any particular VAT claim or clarify any aspect of any of the claims...

Written Answers — Department of Finance: Departmental Properties (4 Mar 2015)

Michael Noonan: In response to the Deputy's question my Department is not involved in any direct rental of buildings. The Department's accommodation needs are provided for by the Office of Public Works via the Property Management Services Section. Details of rental costs associated with buildings occupied by the Department may be obtained directly from the Office of Public Works.

Written Answers — Department of Finance: Universal Social Charge Yield (4 Mar 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the information on receipts for Universal Social Charge (USC) requested by the Deputy is available on Revenue's statistics website at: , under the "Revenue Net Receipts by Taxhead" on an annual basis to 2013. The figures are reproduced in the table below with a provisional figure for 2014 included. Net Receipts 2011 €m 2012 €m...

Written Answers — Department of Finance: Tax Reliefs Cost (4 Mar 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the cost to the Exchequer of tax relief allowed through the tax relief at source (TRS) system for medical insurance premia from 2005 to 2014 are set out in the following table. The estimates do not include costs to the Exchequer of age-related tax relief at source, which was established by the Health Insurance (Miscellaneous Provisions) Act...

Written Answers — Department of Finance: Tax Yield (4 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a wide range of statistical information is available on the Commissioners' newly enhanced Statistics webpage: .  In relation to the Deputy's question, detailed information on Excise receipts by commodity can be found at The most recent year for which detailed data are available is 2013. Data for 2014 will be published in due course. I am...