Results 19,441-19,460 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: IBRC Operations (29 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 60 and 61 together. The Deputy raises serious concerns regarding potential insider dealing in her question.  If the Deputy has any information regarding insider dealing in Siteserv shares, I would suggest that she contact the Irish Stock Exchange in relation to same. The Irish Stock Exchange investigates suspected insider...

Written Answers — Department of Finance: IBRC Operations (29 Apr 2015)

Michael Noonan: Neither I nor officials from my Department were made aware of instances where the person referred to in the question met with Siteserv management between 1 January 2011 up to the time of the eventual sale of the company.

Written Answers — Department of Finance: IBRC Operations (29 Apr 2015)

Michael Noonan: My attention or that of my officials was not brought to instances in which these meetings may have taken place.

Written Answers — Department of Finance: IBRC Operations (29 Apr 2015)

Michael Noonan: Neither I nor my officials from my Department were involved in the transaction involving the company referred to in the question. The Financial Services Regulator, the Irish Stock Exchange and the Irish Takeover Panel are independent in their function.  There is no record of correspondence between my Department and these bodies in relation to the sale of Siteserv.

Written Answers — Department of Finance: Departmental Staff (29 Apr 2015)

Michael Noonan: As in the case for all civil servants, all staff in my Department must adhere to the Civil Service Code of Standards and Behaviour.  The code makes it clear that "Civil servants are not allowed to: use their official positions to benefit themselves or others with whom they have personal, family, business or other ties".  It goes on to state that "Civil servants may not at...

Written Answers — Department of Finance: Tax Code (30 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 60 to 63, inclusive, together. Regarding Question 17019-15,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. Exemptions from DIRT on income grounds currently apply in the...

Written Answers — Department of Finance: Pension Provisions (30 Apr 2015)

Michael Noonan: By way of background, approved retirement funds (ARFs) were introduced by Finance Act 1999 to provide control, flexibility and choice to holders of personal pensions and to proprietary director members of occupational pension schemes in relation to the drawing down of benefits from their pension plans. Prior to that Act, any person taking a pension from a Defined Contribution (DC) scheme or a...

Written Answers — Department of Finance: Tax Code (30 Apr 2015)

Michael Noonan: Where a couple is cohabiting, rather than married or in a civil partnership, each partner is treated for the purposes of income tax as a separate and unconnected individual.  Because they are treated separately for tax purposes, credits, tax bands and reliefs cannot be transferred from one partner to the other.  In addition there is no provision in the tax code that allows a person...

Written Answers — Department of Finance: Tax Reliefs Availability (30 Apr 2015)

Michael Noonan: Section 469 of the Taxes Consolidation Act 1997 provides for relief in respect of qualifying expenses incurred in the provision of health care in a tax year against the tax paid by an individual for that year.  Health care is defined as the prevention, diagnosis, alleviation or treatment of an ailment, injury, infirmity, defect or disability, and includes care received by a woman in...

Written Answers — Department of Finance: Tax Code (30 Apr 2015)

Michael Noonan: I am informed by the Revenue Commissioners that there is no provision in tax law whereby any individual, including an EU national, who returns home having worked in Ireland for 10 years can get a refund of tax/USC paid during that period. In the year of departure however, as respects employment income only, an individual who is tax resident in Ireland is treated as tax resident up to and...

Written Answers — Department of Finance: Tax Rebates (30 Apr 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned was in receipt of the Rent Tax Credit for the years 2013 and 2014. This credit was reflected in the Tax Credit Certificates for the years in question issued to the person concerned. I am further advised that no tax refund arises for the years 2013 and 2014, as the correct amount of tax was deducted based on the...

Written Answers — Department of Finance: IBRC Loans (30 Apr 2015)

Michael Noonan: As the Deputy is aware, the Minister for Finance has issued directions to the Special Liquidators to perform a review and produce a report having considered all transactions, activities and management decisions, other than those relating solely to the acquisition of assets by the National Asset Management Agency which either: 1. Resulted in a capital loss to IBRC of at least €10...

Written Answers — Department of Finance: Banking Operations (30 Apr 2015)

Michael Noonan: I can confirm for the Deputy that I did not express any concerns regarding the sale of the Bank of Ireland's UK Commercial portfolio to the company highlighted nor were any complaints made directly to me on the matter. I am not aware of officials in either the Department or the NTMA raising any such concerns. In late September 2011, an official in...

Written Answers — Department of Finance: Tax Rebates (30 Apr 2015)

Michael Noonan: Any couple in a marriage or civil partnership aged 65 or over, whose total income from all sources is slightly over the age exemption limit may qualify for marginal relief in accordance with Section 188 (5) of the Taxes Consolidation Act 1997. Marginal relief is determined by comparing a person's liability using two calculation methods. In method 1, the person's liability is calculated by...

Written Answers — Department of Finance: Disabled Drivers Grant Applications (30 Apr 2015)

Michael Noonan: The Deputy will be aware of the legal provisions governing the Drivers & Passengers with Disabilities Scheme which are contained in the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994 (S.I. 353 of 1994). Regulation 10(1) of S.I. 353 of 1994 provides that where a vehicle is to be used for the transport of a passenger with a disability, it must be...

Written Answers — Department of Finance: IBRC Liquidation (30 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 73 and 81 together. I am advised that due to commercial confidentiality and sensitivities, the Special Liquidators do not propose to provide details of amounts due and paid to KPMG by Irish Bank Resolution Corporation Limited prior to the appointment of the Special Liquidators. However, any amounts owing at the date of the appointment of the Special...

Written Answers — Department of Finance: IBRC Operations (30 Apr 2015)

Michael Noonan: During the Department of Finance review into the sale of Siteserv, the share price movement of Siteserv was not brought to the attention of me or officials in my Department. Neither I nor officials in my Department monitored the share price as we did not have a direct shareholding in Siteserv. The Irish Stock Exchange investigates suspicious share trading...

Written Answers — Department of Finance: IBRC Operations (30 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 75 and 84 together. There was a professional working relationship between my Department and senior management of IBRC at all times. Given the issues which the bank was dealing with at the time, this may not have always led to agreement on certain matters between my Department and senior management of IBRC, nor should this be expected. I would expect...

Written Answers — Department of Finance: Ministerial Meetings (30 Apr 2015)

Michael Noonan: I spoke with An Taoiseach on the morning of 22 April 2015 during which we discussed various matters including that of Siteserv. During this exchange, I let an Taoiseach know that the Chairman provided me with strong assurances that the transaction, including those aspects of the transaction with which there were concerns, had been thoroughly assessed by the IBRC Board and that the...

Written Answers — Department of Finance: Ministerial Responsibilities (30 Apr 2015)

Michael Noonan: The Board of IBRC met and approved the sale of Siteserv on 15 March 2012. On 16 March 2012, given that Siteserv was a member of the Enterprise Securities Market, it was announced to the Stock Exchange of the proposed disposal of the Siteserv business to Millington. As per the RNS on the Irish Stock Exchange, completion of the sale was subject to and conditional upon a number of...