Results 19,681-19,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: IBRC Liquidation (19 May 2015)

Michael Noonan: I note that I answered a very similar question for the Deputy on 30th April 2015. 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...

Written Answers — Department of Finance: Tax Reliefs Abolition (19 May 2015)

Michael Noonan: The Deputy will be aware that mortgage interest relief has been abolished for homes purchased since 1 January 2013. Up until 2018 however, tax relief continues to be available for interest paid on all qualifying home loans taken out on or after 1 January 2004 and on or before 31 December 2012, regardless of whether the individuals concerned are first-time buyers or non-first-time buyers. ...

Written Answers — Department of Finance: IBRC Liquidation (19 May 2015)

Michael Noonan: I propose to take Questions Nos. 109 and 110 together. It is too early at this stage to advise on the likely timeframe for conclusion of the liquidation. Significant progress has been made to date in winding up the affairs of IBRC but further work remains. A progress update report published in March 2015, which is available on the Department of Finance website, highlights the progress which...

Written Answers — Department of Finance: NAMA Expenditure (19 May 2015)

Michael Noonan: I am advised by NAMA that the breakdowns of the costs and supplier sought by the Deputy are as set out below. Total spend on advisers, consultants, lawyers and auctioneers: inception to 2014. Legal, consulting and advisory fees as per the published accounts for 2010 to 2014 and include invoices paid to suppliers and the movement in expense accruals. Legal, Consultants and...

Written Answers — Department of Finance: NAMA Operations (19 May 2015)

Michael Noonan: As I recently highlighted, in my response to Dáil Question 12 on 7 May 2015, I am advised that the NAMA Chief Executive, in his opening address to the Public Accounts Committee on 18 December 2014, stated that NAMA is aiming to redeem a cumulative 80% (€24 billion) of its senior debt by the end of 2016. To date, NAMA has redeemed a total of €17.8bn, that...

Written Answers — Department of Finance: Financial Services Regulation (19 May 2015)

Michael Noonan: As Minister for Finance, I have responsibility for the development of the legal framework governing financial regulation, while the day to day responsibility for the supervision of financial institutions is a matter for the Central Bank which is statutorily independent in the exercise of its regulatory functions. In relation to regulatory requirements, the Central Bank does not place any...

Written Answers — Department of Finance: Tax Code (19 May 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the following measures are currently in place to facilitate business succession. Capital Gains Tax Capital Gains Tax (CGT) is charged at the rate of 33% in respect of gains on the disposal of assets. The first €1,270 of gains made by an individual in any year is exempt from CGT. A relief from CGT, known as retirement relief, is available...

Written Answers — Department of Finance: VAT Rebates (19 May 2015)

Michael Noonan: Generally, activities engaged in by public bodies are outside the scope of VAT and therefore they have no entitlement to VAT deductibility on their inputs and do not account for VAT on their supplies.  Where their activities fall within the scope of VAT, for example, where their services are in competition with similar services provided by taxable private sector entities, they are...

Written Answers — Department of Finance: Tax Code (19 May 2015)

Michael Noonan: I would like to inform the Deputy that measures have been introduced in the Taxes Acts in recent years which benefit small and medium enterprises. A 3-year tax relief for start-up companies commencing a new trade was introduced in 2009, and extended in subsequent Finance Bills, as a support to encourage new business development. The relief is granted in respect of the profits of a new trade...

Written Answers — Department of Finance: Tax Reliefs Availability (19 May 2015)

Michael Noonan: As the Deputy will be aware, my Department carried out a review of the Employment and Investment Incentive (EII) and Seed Capital Scheme (SCS) in advance of the recent Budget. Part of that review included a public consultation process. A report on this review was published on Budget Day and is available on the Budget website. One of the options considered in the review was the...

Written Answers — Department of Finance: Mortgage Interest Rates (19 May 2015)

Michael Noonan: The lending institutions in Ireland - including those in which the State has a significant shareholding - are independent commercial entities. The setting of interest rates is a commercial decision for the institutions concerned. Nonetheless, the issue of regulation of interest rates remains a policy area under active review. Competition between the banks will be crucial in ensuring that the...

Written Answers — Department of Finance: Exchequer Deficit (19 May 2015)

Michael Noonan: I would point out that the information requested by the Deputy is currently available on my Department's website at the following link: However, the tables following set out the position in terms of Exchequer Deficit and total non-tax revenues collected at end-April 2011 and at end-April 2015 respectively. Exchequer Deficit and Total Non-Tax Revenue: End-April 2011 End-April 2015...

Written Answers — Department of Finance: Exchequer Deficit (19 May 2015)

Michael Noonan: I would point out that the information requested by the Deputy is currently available on my Department's website at the following link: However, the tables following set out the position in terms of Exchequer Deficit and total net voted expenditure for the period at end-April 2011 and at end-April 2015 respectively. Exchequer Deficit and Net Voted Expenditure: End-April 2011 End-April...

Written Answers — Department of Finance: Exchequer Deficit (19 May 2015)

Michael Noonan: I would point out that the information requested by the Deputy is currently available on my Department's website at the following link: However, the tables below set out the position in terms of Exchequer Deficit and total non-voted expenditure for the period at end-April 2011 and at end-April 2015 respectively. Exchequer Deficit and Non-Voted Expenditure: End-April 2011 End-April 2015...

Written Answers — Department of Finance: Exchequer Deficit (19 May 2015)

Michael Noonan: The table following sets out the position in terms of Exchequer Deficit and total tax revenues collected at end-April 2011 and at end-April 2015 respectively. Exchequer Deficit and Total Tax Revenue: End-April 2011 End-April 2015 Change €m €m €m Total Tax Revenue 9,611 12,864 +3,253 Exchequer Deficit -9,913 -2,319 +7,594 The table following sets out the...

Written Answers — Department of Finance: Tax Avoidance Issues (19 May 2015)

Michael Noonan: I am informed by the Revenue Commissioners that while they capture the various constituents of yield from their compliance interventions (income tax/PRSI/USC that ought to have been collected by employers under the PAYE system plus interest on late payment and penalties) involving non-operation by employers of the PAYE system, their records do not capture each of the separate or specific...

Written Answers — Department of Finance: Central Bank of Ireland (19 May 2015)

Michael Noonan: I have been informed by the Central Bank that it investigates specific complaints made and, where appropriate, will exercise its discretion to pursue a case under the Administrative Sanctions Procedure or a summary criminal prosecution.  As to the question of how the Central Bank will exercise this discretion, the Central Bank has indicated that this will wholly depend on the...

Written Answers — Department of Finance: IBRC Operations (19 May 2015)

Michael Noonan: As explained to the Deputy in Parliamentary Question No. 30 of 7 May 2015, in order to protect the confidentiality of customer data, the integrity of the sales processes and the liquidation more generally, the Department of Finance and NAMA were not made aware of nor did they receive the independent valuations of the loan assets at either a portfolio or a loan level, nor have they been made...

Written Answers — Department of Finance: Financial Services Regulation (19 May 2015)

Michael Noonan: At present, the particular referenced firm is not regulated by the Central Bank. Unregulated entities that have acquired mortgage loan books are not subject to regulation by the Central Bank and are therefore not subject to the provisions of its Codes, such as the CCMA - though many such firms have stated that they will voluntarily comply with the CCMA. However, borrowers whose loans are...

Written Answers — Department of Finance: Tax Reliefs Application (19 May 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the Med 2 form contains details of the range of dental treatments that qualify for tax relief under section 469 of the Taxes Consolidation Act 1997. I am further informed that the Revenue Commissioners are currently reviewing this form to ensure that it accurately reflects the full range of expenses that may be claimed in relation to...