Results 19,041-19,060 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Tax Collection (12 Mar 2015)

Michael Noonan: I am advised by Revenue that there are eight different payment methods available to assist property owners in meeting their Local Property Tax (LPT) obligations in a way that best suits individual circumstances. The payment methods include a number of phased options that facilitate payment of LPT in equal amounts over the course of the year rather than having to meet the liability in a...

Written Answers — Department of Finance: Tax Compliance (12 Mar 2015)

Michael Noonan: The Deputy will be aware from my reply to Question No. 121 on 19 December 2013 that the Revenue Commissioners have previously confirmed that approximately €65 million in extra tax has been secured for the Exchequer from the taxpayers concerned for the year 2012.    By way of update, I am also advised by the Commissioners that as a result of their compliance programme on...

Written Answers — Department of Finance: Economic Data (12 Mar 2015)

Michael Noonan: I am aware of the recently released Purchasers Managers Index (PMI) figures for February. The PMI for February 2015 reported a figure of 52.0 for total activity in the construction sector. As any reading in excess of 50 indicates expansion, the index points towards a slight increase in activity compared to January 2015. However, while the index indicates that the sector is...

Written Answers — Department of Finance: Tax Yield (12 Mar 2015)

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

Written Answers — Department of Finance: Mortgage Interest Rates (12 Mar 2015)

Michael Noonan: The decision to advance credit, and the terms on which such credit is advanced, is a commercial decision for individual lenders. In that regard, there are no particular requirements to allow or prevent banks from allowing borrowers who are moving to keep their tracker mortgage rate. I am informed by the Central Bank that a number of banks currently offer various tracker mover...

Written Answers — Department of Finance: Mortgage Lending (12 Mar 2015)

Michael Noonan: All relevant disclosures in relation to each bank's residential mortgage portfolios are available in the risk management sections of their financial reports. For information the links to the financial reports are set out below with references to the relevant page numbers. Bank of Ireland (pages 52 to 84) AIB (pages 51 to 156) Permanent TSB (Financial Risk note 33, pages 128 to 159) ?

Written Answers — Department of Finance: Financial Services Ombudsman Data (12 Mar 2015)

Michael Noonan: The Financial Services Ombudsman is independent in the carrying out of his duties to investigate, mediate and adjudicate complaints about the conduct of regulated financial service providers.  I, as Minister for Finance, have no role in the day to day workings of the office of the Ombudsman or in the decisions which he takes. A "Whole of Life" policy pays a specified...

Written Answers — Department of Finance: Illicit Trade in Tobacco (24 Mar 2015)

Michael Noonan: The Deputy will appreciate that estimating the scale of any illegal activity, and the tax losses to which it gives rise, is difficult and that estimates of such losses need to be viewed with caution. I am advised by the Revenue Commissioners that the extent of the illegal trade in cigarettes is estimated through annual surveys of smokers that are carried out for them and for the National...

Written Answers — Department of Finance: Credit Unions Regulation (24 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that, other than the exemption from Corporation Tax in section 219A of the Taxes Consolidation Act 1997 which is applicable to credit unions that are registered or deemed to be registered under the Credit Union Act 1997, there are no tax expenditures or reliefs available specifically or primarily to credit unions. I am further advised by Revenue...

Written Answers — Department of Finance: VAT Rate Reductions (24 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that VAT law in Ireland must comply with the EU VAT Directive.  The rating of a food product for VAT purposes is based on the VAT legislation rather than on the description of the product.  The majority of food products, whether artisan produced or not, are already liable at the zero rate of VAT.  Food products can only benefit from the...

Written Answers — Department of Finance: Insurance Industry Regulation (24 Mar 2015)

Michael Noonan: I am aware that the Central Bank is reported to have raised a concern that intense competition between insurers may be driving down premium prices to levels that may not be viable.  The status of this report is unclear.  My Department is in correspondence with the Central Bank to clarify their views. In my role as Minister for Finance I have responsibility for the...

Written Answers — Department of Finance: VAT Rate Application (24 Mar 2015)

Michael Noonan: The Value Added Tax policy gap measures the additional revenues that could in principle be collected if a uniform rate (i.e. the standard rate, which is 23% in Ireland) applied to all consumption, thereby eliminating the effects of reduced rates and exemptions. Ireland operates a number of reduced VAT rates and exemptions which influence the size of Ireland's VAT policy gap. In this regard,...

Written Answers — Department of Finance: Fiscal Policy (24 Mar 2015)

Michael Noonan: I assume that the Deputy is referring to revenue raising fiscal measures which are designed to reduce the emissions of greenhouses gases such as carbon dioxide, and whose chargeable basis or rates are set with reference to greenhouse gas emissions. The carbon tax, which applies to fossil fuels at a rate of €20 per tonne of carbon dioxide emitted, raised €385.4 million in...

Written Answers — Department of Finance: Banking Sector Regulation (24 Mar 2015)

Michael Noonan: The Deputy will be aware that I, in my role as Minister for Finance, have no direct function in the relationship between the banks and their customers. I have no statutory function in relation to the banking decisions made by individual lending institutions at any particular time and these are taken by the board and management of the relevant institution. Notwithstanding...

Written Answers — Department of Finance: Home Repossession Rate (24 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 259 and 260 together. While the Courts Service operates as an independent corporate organisation, primary responsibility for reporting on matters before the Courts, including home repossession cases, lies with the Department of Justice and Equality.  We have asked that Department to source the data on repossession cases from the Courts...

Written Answers — Department of Finance: Universal Social Charge Application (24 Mar 2015)

Michael Noonan: The Universal Social Charge was introduced by Section 3(1)(a) of the Finance Act 2011 and applies to specified income received on and after 1st January 2011. The charge is determined by the date the relevant income is received as distinct from when it was earned. I am advised by the Revenue Commissioner that the person concerned received arrears of pay in 2012 in respect of the years...

Written Answers — Department of Finance: NAMA Debtor Agreements (24 Mar 2015)

Michael Noonan: My response to Parliamentary Question No. 76 of 26 February 2015 stated that of the 109 debtor connections that have reached a final agreement with NAMA, 62 relate to debtor connections whose loans were sold and 47 relate to debtor connections where NAMA has concluded a final settlement agreement directly with the debtor connections resulting in no remaining par debt being owed to...

Written Answers — Department of Finance: Bank Guarantee Scheme Bond Repayments (24 Mar 2015)

Michael Noonan: I have received the following information from the relevant institutions. AIB The only transaction involving dated subordinated debt from 30 September 2008 to 30 September 2010 was an exchange that was transacted in March 2010. This involved the exchange of €2,211m dated subordinated debt. Consideration of €1,768m of replacement dated subordinated debt notes was given. The...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (24 Mar 2015)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, assistance with fuel costs, and an exemption from Motor Tax. In respect of drivers with disabilities, Regulation 8(1)(d) of the Disabled...

Written Answers — Department of Finance: Tax Code (24 Mar 2015)

Michael Noonan: When the system of individualisation was introduced in the tax code in 1999, a home carer allowance was also introduced to compensate those who chose to stay at home to care for children rather than participate in the labour market. The Home Carer Tax Credit can be claimed by a jointly assessed couple in a marriage or civil partnership, where one spouse or civil partner is the Home Carer...