Results 19,081-19,100 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Household Charge Collection (24 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that compliance data in relation to the Local Property Tax (LPT), including Household Charge, is available on the Commissioners' website at. Updates to these statistics will be published in due course. From the most recent statistics available, the Commissioners have confirmed that since Revenue took over responsibility for Household Charge...

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

Michael Noonan: I am informed by the Revenue Commissioners that the estimated first and full year cost to the Exchequer to implement Option 4 (p.13) of the Department of Finance's November 2011 review of the Universal Social Charge (USC) would be in the region of €878 million and €1.17 billion respectively. The USC rates cited in Option 4 are applied to both PAYE and self-employed income. I am...

Written Answers — Department of Finance: Household Charge Administration (24 Mar 2015)

Michael Noonan: I am advised by Revenue that Section 127 of the Finance (Local Property Tax) Act 2012 (as amended) provides that any unpaid Local Property Tax (LPT) or Household Charge (HHC) liabilities attach as a charge against the particular residential property until the outstanding debt is paid. Such a charge, including interest at a rate of 8% per annum remains on the property, even where there is...

Written Answers — Department of Finance: Financial Services Sector (24 Mar 2015)

Michael Noonan: As the Deputy is aware PricewaterhouseCoopers (PwC) was commissioned by the Financial Regulator to review the loan books and the capital position of six of the covered institutions as at 30th September 2008 and as such was not a report commissioned by, or provided to, the Revenue Commissioners. The PwC Reports were a "point in time" exercise and were subject to a number of caveats. They...

Written Answers — Department of Finance: Ministerial Pensions (24 Mar 2015)

Michael Noonan: Aggregate information regarding ministerial pensions is set out in the following table. Year Amount (€) 2013 €4,073,957.94 2012 €4,104,802.23 2011 €4,121,495.39 2010 €3,740,497.00 2009 €3,801,646.10 2008 €4,467,657.00 2007 €3,942,745.00 The following should be noted with respect to the above information: the totals can...

Written Answers — Department of Finance: Money Laundering (25 Mar 2015)

Michael Noonan: Section 33 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, as amended, sets out the requirements in relation to customer due diligence ('CDD').  Pursuant to section 33, designated persons are required to identify the customer and verify the customer's identity on the basis of documents (whether or not in electronic form), or information, that the has...

Written Answers — Department of Finance: Departmental Contracts (25 Mar 2015)

Michael Noonan: The information requested by the Deputy could not be collated in the time available. I will respond directly to the Deputy as soon as possible.

Written Answers — Department of Finance: Mortgage Interest Rates (25 Mar 2015)

Michael Noonan: Firstly, I must confirm to the Deputy that the lending institutions in Ireland - including those in which the State has a significant shareholding - are independent commercial entities. I have no statutory role in relation to regulated financial institutions passing on the European Central Bank interest rate change or to the mortgage interest rates charged.  It is a commercial...

Written Answers — Department of Finance: IBRC Liquidation (25 Mar 2015)

Michael Noonan: Firstly, I would like to thank Mr Lynch for his email in relation to IBRC. The Special Liquidators continue to implement an orderly and efficient wind down of Irish Bank Resolution Corporation Limited (in Special Liquidation) in accordance with the provisions of the IBRC Act and the instructions issued by me under that Act. Any interference by the State in the Special Liquidation of...

Written Answers — Department of Finance: Universal Social Charge Exemptions (25 Mar 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the estimated first and full year cost to the Exchequer of exempting a further 90,000 individuals from liability to the Universal Social Charge is €60 million and €82 million respectively. All figures above are estimates for 2015, using the actual data for the year 2012 (the latest year for which data are available) adjusted as...

Written Answers — Department of Finance: NAMA Debtors (25 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 40 to 43, inclusive, together. NAMA acquired and manages a portfolio of loans, not property. The properties securing NAMA's loans continue to be managed by their existing owners or, in the case of enforcement, on their behalf by the appointed receivers/administrators. These owners and receivers/administrators are responsible for the efficient management...

Written Answers — Department of Finance: Property Tax Yield (25 Mar 2015)

Michael Noonan: Under existing legislation, liability to Local Property Tax (LPT) for the years 2013 to 2016 is based on the (initial) self-assessed valuation of a property on 1st May 2013, assuming it was made in good faith. This valuation remains valid from 1 May 2013 to 31 October 2016, and will not be affected by any increase or decrease in property prices or other changes, including repairs or...

Written Answers — Department of Finance: Property Tax Data (25 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 45 to 48, inclusive, together. I am advised by the Revenue Commissioners that it is tentatively estimated, based on extrapolations from the Central Statistics Office Census 2011 results and information received to date from the administration of LPT, that a total of 1.95 million properties may be liable for Local Property Tax (LPT) in each year. In 2013 and...

Written Answers — Department of Finance: Tax Data (25 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 49 and 50 together. Council Directive 2011/16/EU on administrative cooperation in the field of taxation provides for the exchange of information between the tax authorities of EU Member States and the Regulations (SI 549 of 2012) giving effect to the Directive under Irish law designate the Revenue Commissioners as the competent authority for the purposes of...

Written Answers — Department of Finance: Tax Avoidance Issues (25 Mar 2015)

Michael Noonan: The Commission have indicated publically that they expect to make their final decision on this issue in the first half of 2015. While it would not be appropriate to speculate on the outcome at this stage, I remain confident that there was no breach of State aid rules in this case and that the legislative provisions were correctly applied. After an investigation such as this, the Commission...

Written Answers — Department of Finance: Tax Code (25 Mar 2015)

Michael Noonan: Following the launch of formal state aid investigations by the Competition Directorate of the European Commission into tax rulings provided to a number of companies in various Member States of the European Union, there has been ongoing contact between my officials and EU Commission officials on the matter, including two meetings with the Competition Directorate case team. As the...

Written Answers — Department of Finance: Banking Operations (25 Mar 2015)

Michael Noonan: The Central Bank has advised me that AvantCard informed the Bank of its commercial decision to increase interest rates on a population of its accounts.  These interest rates are not regulated by the Central Bank and as such, a regulated entity may determine the rate it charges its customers in line with applicable terms and conditions and depending on a number of factors,...

Written Answers — Department of Finance: Property Tax Collection (25 Mar 2015)

Michael Noonan: I am advised by Revenue that it provides eight (8) different payment methods for Local Property Tax (LPT). The eight payment methods include various single and phased options that are designed to provide property owners with alternatives that assist them in meeting their LPT obligations in a manner that best suits individual circumstances. Direct Debit is one of the available phased...

Written Answers — Department of Finance: Mortgage Arrears Proposals (25 Mar 2015)

Michael Noonan: I am informed by the Central Bank that under the Code of Conduct on Mortgage Arrears, lenders must establish a centralised and dedicated Arrears Support Unit (ASU), which must be adequately staffed, to manage cases under the Mortgage Arrears Resolution Process (MARP), set out in the CCMA.  It is the responsibility of the lender's ASU to carry out certain functions under the CCMA, for...

Written Answers — Department of Finance: Economic Statements (25 Mar 2015)

Michael Noonan: The intention is to publish the Spring Economic Statement in the second half of April. It is not foreseen that legislation will be required.