Results 22,261-22,280 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Reliefs: Tax Reliefs (21 Feb 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the total amounts of research and development tax credits allowed from 2006 to 2009, the latest year available, are shown in the following table. Year Research and Development Tax Credit €m 2006 74.7 2007 165.6 2008 146.0 2009 216.1 The credits shown above are derived from the corporation tax returns for accounting periods ending in...

Written Answers — State Banking Sector: State Banking Sector (21 Feb 2012)

Michael Noonan: The Deputy will appreciate that much of the information requested in his question is subject to external factors and that it is not practical to be definitive in terms timelines or costs at this point. Suffice to say that the Board of the bank is charged with the work-out of the Bank's assets in a manner that will best protect the interests of the State. However, the framework within which...

Written Answers — Departmental Reports: Departmental Reports (21 Feb 2012)

Michael Noonan: A draft of the internal report has been prepared by management in my Department with the professional support of the Department's Internal Audit Unit. Following advice from the Attorney General's Office, it is being circulated to some of the parties involved who will be allowed sufficient time to provide their final comments on it. Thereafter, the report will be finalised and submitted to me...

Written Answers — Financial Services Regulation: Financial Services Regulation (21 Feb 2012)

Michael Noonan: The Central Bank Reform Act 2010 Act provides for new powers to be exercised by the 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 new fitness and probity regime is being rolled out by the Central Bank through a code and regulations that were published on 1 September 2011. The...

Written Answers — National Asset Management Agency: National Asset Management Agency (21 Feb 2012)

Michael Noonan: NAMA advises me that in the case of 31 of the 188 debtors under its direct management, it has secured agreement to reverse asset transfers with an aggregate value of €160m. In another 17 cases, assets transfers have been identified and NAMA is confident that its current discussions with debtors will conclude with additional transfer reversals or the granting of charges to it over...

Written Answers — Financial Services Regulation: Financial Services Regulation (21 Feb 2012)

Michael Noonan: The Central Bank have advised me that the company referred to in the Deputy's question is not regulated by them and that there are no authorised providers of pay day loans in the State at present. If a company wishes to offer a pay day loan service in the State it would have to seek a money lender's licence from the Central Bank to do so. Moneylenders have to apply to the Central Bank...

Written Answers — Banks Capitalisation: Banks Capitalisation (21 Feb 2012)

Michael Noonan: I refer the Deputy to my replies to recent Parliamentary Questions (ref: 35901/11 of 22 November 2011 and 38796/11 of 6 December 2011), which address the query raised in his latest question. The position as regards this matter has not changed. I am advised by the Central Bank of Ireland (CBI), that they assisted the European Banking Authority (EBA) in carrying out a European-wide bank...

Written Answers — Tax Reliefs: Tax Reliefs (21 Feb 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the cost of tax foregone to the Exchequer in terms of income tax and corporation tax for the development of nursing homes for each of the years 2007 to 2009, the latest year available, is set out in the table below; Year Exchequer Cost €m 2007 18.3 2008 19.8 2009 21.6 I am also informed by the Revenue Commissioners that the information...

Written Answers — Mortgage Arrears: Mortgage Arrears (21 Feb 2012)

Michael Noonan: As the Deputy may be aware, the Central Bank published, on 17 February last, the latest data in relation to mortgage arrears. This shows that at end December 2011, 70,911 private residential mortgage accounts were in arrears of 90 days or more. A further 74,379 accounts were categorised as restructured at the end of December 2011, of which, 37,582 had arrears of varying categories. The...

Written Answers — State Banking Sector: State Banking Sector (21 Feb 2012)

Michael Noonan: The lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. Ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of each lending institution, having due regard to their customers and the impact on...

Written Answers — Tax Reliefs: Tax Reliefs (21 Feb 2012)

Michael Noonan: As announced in the Budget, the proposed new 30% rate of tax relief in respect of interest paid on qualifying homes for first time buyers who took out their first qualifying home loan in the period between 2004 and 2008, both dates inclusive, comes into effect as regards the 2012 tax year and subsequent tax years. As with many of the reliefs announced in the Budget, this comes into effect...

Written Answers — National Asset Management Agency: National Asset Management Agency (21 Feb 2012)

Michael Noonan: The details requested by the Deputy are set out hereunder. New Advance Approvals of €980 million are split between: * Ireland (41%), * Northern Ireland (1%), * Great Britain (50%), * Other locations (8%). Actual drawdown payments of €740 million are split between: * Ireland (39%), * Northern Ireland (1%), * Great Britain (52%), * Other locations (8%). The €385 million in advances drawn...

Written Answers — Tax Code: Tax Code (21 Feb 2012)

Michael Noonan: The expected cost or yield of those measures referred to in the Bill which were also included in the Budget was set out on pages B.5 to B.12 of the Summary of Budget Measures document published on Budget Day. Many of the individual proposals contained in the Bill, which were not specifically referred to in the Budget, are technical in nature and do not involve significant revenue changes....

Written Answers — Tax Reliefs: Tax Reliefs (21 Feb 2012)

Michael Noonan: Section 14 of Finance Bill 2012 provides for the Special Assignee Relief Programme (SARP). This programme will reduce the cost to employers of assigning key individuals in their companies from abroad to take up positions in the Irish based operations of their employer. In recognition of differences in curriculums taught and primary languages that may be spoken by the assignee and/or their...

Written Answers — Budget Submissions: Budget Submissions (21 Feb 2012)

Michael Noonan: As part of the Budget and Finance Bill 2012 process I received submissions from in the order of 700 organisations, companies and individuals and I would of course have been in touch also with my Ministerial colleagues. Before the Budget I personally met with various groups including the Irish Farmers' Association, the Irish Creamery Milk Suppliers' Association, the Irish Business and...

Written Answers — Tax Code: Tax Code (21 Feb 2012)

Michael Noonan: As the Deputy will be aware, the Special Assignment Relief Programme (SARP) announced in the Budget was not in force for the tax years 2008 to 2011. The relief will come into force for the tax years 2012 and subsequent tax years when the current Finance Bill passes all Stages in both houses of the Oireachtas and is signed into law by the President.

Written Answers — Tax Reliefs: Tax Reliefs (21 Feb 2012)

Michael Noonan: I am informed by the Revenue Commissioners that there are no tax reliefs available which are specific to aircraft lessors. In general, however, a company carrying on a trade of aircraft leasing would, similar to any other company carrying on a trade, be charged to corporation tax, in respect of its trading income at a rate of 12.5%. In addition, when computing its profits for an accounting...

Written Answers — Tax Code: Tax Code (21 Feb 2012)

Michael Noonan: The yield from removing the tax exemption for the first 36 days of Illness Benefit and Occupational Injury is estimated at €13 million in a full year which was stated in the Budget 2012 Booklet. This information is available, along with all other Budget 2012 taxation measures, on my Department's website at www.finance.gov.ie.

Written Answers — Tax Reliefs: Tax Reliefs (21 Feb 2012)

Michael Noonan: The cost of increasing mortgage interest relief to 30 per cent for first-time buyers who took out their first mortgage in the period 2004 to 2008 is estimated at €52 million in a full year which was stated in the Budget 2012 Booklet. This information is available, along with all other Budget 2012 taxation measures, on my Department's website at www.finance.gov.ie.

Written Answers — Departmental Expenditure: Departmental Expenditure (21 Feb 2012)

Michael Noonan: In response to the Deputy's Question details of the occasions on which photographers were used since coming to office are contained in the following table: Use of Photographer Company used Details Cost € Maxwell Photography Ltd Brian Lenihan - photo required for Minster's Conference - Engaged on 30th March 2011 €424.41 Maxwell Photography Ltd Signing of Taxation agreement with...