Results 19,501-19,520 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Interest Rates (6 May 2015)

Michael Noonan: I propose to take Questions Nos. 148 and 151 together. At the outset I would like to confirm 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 mortgage...

Written Answers — Department of Finance: Energy Efficiency (6 May 2015)

Michael Noonan: Ireland's national approach on Energy efficiency policy is a matter for my colleague, the Minister for Communications, Energy and Natural Resources. The EFSI regulation is still under negotiation with Trilogues ongoing with the European Parliament at present. While development of the energy sector is mentioned as one of the areas to be supported by EFSI, ring fencing of funds for energy...

Written Answers — Department of Finance: Mortgage Arrears Rate (6 May 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-Q4 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: Tax Avoidance Issues (6 May 2015)

Michael Noonan: The phrase 'bogus self-employment' is used to describe a scenario where an individual who is an employee is described erroneously as being self-employed.  I am advised by the Revenue Commissioners that the question as to whether an individual is engaged under either a contract of service [i.e. an employee] or a contract for service [i.e. self-employed] is a question of fact and of...

Written Answers — Department of Finance: Fuel Laundering (6 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners that filling stations are obliged to hold an auto fuel trader's licence and/or a marked fuel trader's licence in order to trade in fuel.  Traders must apply for a new licence annually and Revenue may refuse to issue a licence or may revoke an existing licence. Revenue began taking action from mid- 2011 against service stations that were...

Written Answers — Department of Finance: Departmental Agencies (6 May 2015)

Michael Noonan: In answer to the Deputy's question the information sought on vacancies on State Boards, bodies or committees under the aegis of the Department of Finance is contained in the table below. I, and my Department are cognisant of the need to adhere to the Department of Public Expenditure and Reform's Guidelines on Appointments to State Boards. Organisation Number of Vacancies up to 1st January...

Written Answers — Department of Finance: Tax Exemptions (6 May 2015)

Michael Noonan: When determining if a Body or Trust is entitled to a charitable tax exemption the Revenue Commissioners rely on the definitions of charitable purposes as provided for by the Charities Act 2009. One of the definitions in the Act in this regard is the advancement of religion. When reviewing the compliance of relevant Bodies/Trusts with the terms of an exemption all relevant matters are...

Written Answers — Department of Finance: IBRC Loans (6 May 2015)

Michael Noonan: Neither I nor the Special Liquidators of IBRC are in a position to comment on individual borrowers. The requested information is confidential and it would not be appropriate for the Special Liquidators to release such information.

Written Answers — Department of Finance: Banking Sector Remuneration (6 May 2015)

Michael Noonan: As the Deputy will be aware details of the individual's remuneration including pension is reported annually in the bank's annual report and accounts. I can confirm that the individual is not a member of the bank's defined benefit pension scheme. Details of the individual's remuneration for 2014 and 2013 can be found on pages 180-182 of the 2014 report and for 2012 and 2011 can be...

Written Answers — Department of Finance: Mortgage Arrears Proposals (6 May 2015)

Michael Noonan: I thank the Deputy for bringing the Irish Home Assist Mortgage Scheme to my attention.  As the Deputy is aware, the Government has put in place a broad strategy to address the problem of mortgage arrears and family home repossessions. The primary focus of this strategy is to support those homeowners in difficulty with their mortgage repayments and, in so far as possible, to...

Written Answers — Department of Finance: Property Tax Collection (6 May 2015)

Michael Noonan: The statutory date for payment of Local Property Tax (LPT) is 1 January in the due year, for example 1 January 2015 for the 2015 tax year.  I am advised by the Revenue Commissioners that specifically in regard to 2015, Revenue extended the payment due date from 1 January 2015 to 7 January 2015 to take account of the holiday period. This date was again extended to 9...

Written Answers — Department of Finance: Property Tax Exemptions (6 May 2015)

Michael Noonan: I am advised by Revenue that Section 10B of the Finance (Local Property Tax) Act 2012 (as amended) provides for a full exemption from Local Property Tax (LPT) for properties occupied by individuals who are permanently and totally incapacitated to such an extent that they are unable to maintain themselves. The Deputy may be aware that following a review of the exemption in May 2014 I...

Written Answers — Department of Finance: VAT Rate Reductions (6 May 2015)

Michael Noonan: VAT is governed by the EU VAT Directive, with which Irish VAT law must comply.  The VAT Directive provides that the supply of goods and services by taxable persons is subject to VAT at rates specified in the VAT Directive.  Member States must apply a standard VAT rate of between 15% and 25% to the majority of economic activity.  In Ireland the standard rate is 23%, and...

Written Answers — Department of Finance: VAT Rate Application (6 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners that EU VAT Directive (Council Directive 2006/112/EC), with which Irish VAT legislation must comply, generally provides that supplies of goods and services be chargeable to VAT at the standard rate but that lower rates are permitted in very limited circumstances.  Ireland has applied a zero rate of VAT to the supply of artificial limbs since 1981...

Written Answers — Department of Finance: IBRC Operations (6 May 2015)

Michael Noonan: Officials in my Department are aware that IBRC proceeded with the appointment of the company referred to in the question without following a standard procurement process. The CEO of IBRC at the time used his authority under bank policy to waive the requirement of Board approval for the engagement.  IBRC felt that given the sensitivities around the piece of work which the company...

Written Answers — Department of Finance: Property Tax Data (6 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners, that approximately €242 million was collected in respect of Local Property Tax (LPT) for 2013.  The table below sets out the amount collected under each Local Authority for 2013.  Local Authority LPT collected €million* Carlow 2.0 Cavan 2.3 Clare 5.1 Cork City 5.6 Cork Co 20.4 Donegal 5.6 Dublin City 39.7 DLR 25.9...

Written Answers — Department of Finance: Financial Services Regulation (6 May 2015)

Michael Noonan: There are no reliable statistics on the specific number of individuals working in the financial services sector in County Cork. However, there is an estimated 12,000 individuals working in financial services related activity outside the greater Dublin area which includes Cork. As the Deputy will be aware, the Government launched its strategy for the development of the financial services...

Written Answers — Department of Finance: State Banking Sector (6 May 2015)

Michael Noonan: The current valuation of the State's remaining investments in the banks are: Bank Investment type Valuation Source Allied Irish Banks Equity and preference shares Contingent capital (CoCo) €11.7bn €1.6bn ISIF end 2014 preliminary valuation Par redemption value Bank of Ireland Equity €1.6bn Irish Stock Exchange closing price 1st May 2015 ...

Written Answers — Department of Finance: Tax Yield (6 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a 1% income levy on all gross income would generate an estimated revenue of €925 million. These figures are estimates from the Revenue tax forecasting model using latest actual data for the year 2012, adjusted as necessary for income, self-employment and employment trends in the interim. They are estimated by reference to 2015 incomes and...

Written Answers — Department of Finance: Banking Sector Regulation (6 May 2015)

Michael Noonan: It is the responsibility of the Directors of banks operating in Ireland to ensure that they have governance and control arrangements in place that comply with,inter alia, the Central Bank of Ireland's Corporate Governance Code and the European Banking Authority's Governance Guidelines (GL44).  These governance and control arrangements are expected to include strong controls in their...