Results 19,321-19,340 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Bank Restructuring (16 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 69 to 72, inclusive, together. Firstly I would like to welcome the approval by the European Commission of the Permanent TSB Restructuring Plan last week. The approval is an important external validation that the plan contains a credible strategy to return Permanent TSB to profitability and brings to an end a period of uncertainty about...

Written Answers — Department of Finance: Mortgage Lending (16 Apr 2015)

Michael Noonan: The Central Bank has informed me that a first time buyer is defined as a borrower to whom no housing loan has ever before been advanced (in Ireland or abroad). Where the borrower under a housing loan is more than one person and one or more of those persons has previously been advanced a housing loan, none of those persons is a first-time buyer. The Central Bank has decided to...

Written Answers — Department of Finance: Tax Settlements (16 Apr 2015)

Michael Noonan: I am advised by the Appeal Commissioners that they do not maintain records which would facilitate a response in relation to the number or proportion of cases fully or partially upheld or rejected. I am informed by the Revenue Commissioners that information in relation to appeal cases is not recorded in the format you requested for all of the years in question.  However, the Revenue...

Written Answers — Department of Finance: Living City Initiative (16 Apr 2015)

Michael Noonan: The Living City Initiative was legislated for in Finance Act 2013 but will only come into operation on the passing of a Commencement Order. The reason for the delay in the initiative coming into effect was related to EU State Aid approval. A number of amendments were made to the Living City Initiative in Finance Act 2014. In particular, the Act incorporated new limits on the amount of...

Written Answers — Department of Finance: Bank Restructuring (16 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 76 and 77 together. As the Deputy is aware, Permanent TSB has published details of the key elements of the Restructuring Plan on its website at . As part of the Restructuring Plan, Permanent TSB will commit to reduce the value of defaulted Irish tracker mortgages through a combination of measures, including cures and asset sales by a predetermined date and...

Written Answers — Department of Finance: Tax Code (16 Apr 2015)

Michael Noonan: Section 472B of the Taxes Consolidation Act 1997 provides, subject to certain conditions, for an annual income tax allowance of €6,350 for seafarers. The allowance is conditional on a seafarer being at sea for at least 169 days in a tax year.  The duties must be wholly performed aboard sea-going ships on an international voyage.  A sea-going ship is one that is registered in...

Written Answers — Department of Finance: Mortgage Interest Rates (16 Apr 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: Financial Services Regulation (16 Apr 2015)

Michael Noonan: In 2011 the new Fitness and Probity regime was rolled out by the Central Bank in accordance with the provisions of the Central Bank Reform Act 2010. The regime provides for new powers to be exercised by the Central Bank to ensure the fitness and probity of nominees to key positions within financial service providers and of key office-holders within those providers.  The Central Bank...

Written Answers — Department of Finance: Banks Recapitalisation (16 Apr 2015)

Michael Noonan: As you will be aware, the Euro-area Heads of State or Government (HoSG) agreed in June 2012 that "it is imperative to break the vicious circle between banks and sovereigns" and that when a Single Supervisory Mechanism, involving the ECB, is in place and operational, the European Stability Mechanism (ESM) could recapitalize banks directly. On 8 December 2014, the ESM Board of Governors...

Written Answers — Department of Finance: Tax Yield (16 Apr 2015)

Michael Noonan: The information requested by the Deputy in relation to the yield from Stamp Duty on residential and non-residential property, together with the numbers of transactions, is as set out in the following tables. It is not possible to separately identify commercial property from within the broader non-residential category. Residential Property Year €m Number of Transactions 2011 45...

Written Answers — Department of Finance: IBRC Liquidation (16 Apr 2015)

Michael Noonan: I have been advised by the Special Liquidators of IBRC that a mediation meeting with certain of the former directors of Irish Nationwide Building Society took place. However given that mediation is a totally confidential process, the Special Liquidators are unable to comment further on this matter.

Written Answers — Department of Finance: IBRC Legal Cases (16 Apr 2015)

Michael Noonan: I have been advised by the Special Liquidators that they have issued proceedings against the person referred to in the question and the Discovery Motion was heard in the Commercial Court on Tuesday (14 April 2015). Neither I nor the Special Liquidators are in a position to provide any further information on this matter.

Written Answers — Department of Finance: Central Bank of Ireland Investigations (16 Apr 2015)

Michael Noonan: The Central Bank may conduct an Inquiry under Part IIIC of the Central Bank Act 1942 where it suspects on reasonable grounds that a prescribed contravention is being or has been committed. In that regard, the Central Bank has published its Inquiry Guidelines under Section 33BD of the Central Bank Act 1942. In relation to its Inquiry Panel, the Central Bank published...

Written Answers — Department of Finance: IBRC Staff (16 Apr 2015)

Michael Noonan: On 7 September 2012 it was announced to all staff in IBRC that the person referred to in the question was to be appointed as the Bank's new Head of Market Solutions on secondment from the Department of Finance, commencing the role on 2 October 2012. The person referred to in the question brought over 20 years experience in domestic and international wholesale banking to the role. The...

Written Answers — Department of Finance: IBRC Staff (16 Apr 2015)

Michael Noonan: In September 2012 it was announced to all staff in IBRC that the person referred to in the question was to be appointed as the Bank's new Head of Market Solutions on secondment from the Department of Finance, commencing the role on 2 October 2012. This move was decided during a meeting between John Moran and the then CEO of IBRC in August 2012. Given the banking experience of the...

Written Answers — Department of Finance: Fuel Laundering (16 Apr 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they recognise the serious threats that fuel fraud poses to legitimate businesses, motorists and Exchequer revenues. Action against this illegal activity is, therefore, a priority for them, and they are implementing a wide-ranging programme of measures to tackle the problem. Key elements of this programme include the following. - A...

Written Answers — Department of Finance: Disabled Drivers Grant Applications (21 Apr 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. To qualify for the Scheme, an applicant must have a permanent and severe physical...

Written Answers — Department of Finance: Tax Compliance (21 Apr 2015)

Michael Noonan: My officials are continuing to engage fully with the ongoing state aid investigation, and we have comprehensively addressed the Commission's concerns making it clear that the appropriate amount of Irish tax was charged in accordance with the relevant legislation. I am still firmly of the view that there was no breach of State aid rules in this case and we will continue to defend all aspects...

Written Answers — Department of Finance: Mortgage Interest Rates (21 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 292 and 302 together. At the outset, I would like to 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, as Minister for Finance, have no statutory role in relation to regulated financial institutions setting interest rates. The...

Written Answers — Department of Finance: Tax Reliefs Application (21 Apr 2015)

Michael Noonan: Section 469 of the Taxes Consolidation Act 1997 provides relief for health expenses incurred by an individual on his own behalf or on behalf of others.  In this regard health expenses are defined as expenses incurred in the provision of health care. Health care means prevention, diagnosis, alleviation or treatment of an ailment, injury, defect or disability, but specifically excludes...