Results 601-620 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Data (4 Apr 2017)

Michael Noonan: I am informed by Revenue that, as the information provided on VAT returns does not require the yield from particular activities or products to be separately identified, it is not possible to provide the VAT collected from toll roads or to separate this collection by road or toll location. Furthermore, I am advised that, even if the information were available, due to Revenue's obligation to...

Written Answers — Department of Finance: VAT Exemptions (4 Apr 2017)

Michael Noonan: I am advised by the Revenue Commissioners that the Court of Justice of the EU in the National Roads Authority v The Revenue Commissioners judgment decided key questions of principle in relation to the liability to VAT of tolls charged to road users by a public authority for the making available of road infrastructure (the Dublin Tunnel and the Westlink (M50) toll road), which were referred by...

Written Answers — Department of Finance: Consumer Protection (4 Apr 2017)

Michael Noonan: The Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 was enacted in July 2015. It was introduced by the previous Government to fill the consumer protection gap where loans were sold by the original lender to an unregulated firm. The Act introduced a regulatory regime for a new type of entity called a 'credit servicing firm'. Credit Servicing Firms are now subject to the...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Management (4 Apr 2017)

Michael Noonan: As the Deputy will be aware, in the social and affordable housing market, in line with Rebuilding Ireland commitments, the Ireland Strategic Investment Fund (ISIF) and a number of key Government Departments are examining the feasibility of establishing a funding vehicle, in conjunction with the private sector, which could facilitate investment in social and affordable housing. Key...

Written Answers — Department of Finance: Brexit Issues (4 Apr 2017)

Michael Noonan: The Department of Finance has been assessing and preparing for the impact of a British exit from the European Union since well before the referendum on 23 June 2016. Work was carried out in the Department to assess the potential economic and financial sector implications arising, including through the ESRI-Department of Finance research programme study published in November 2015 titled...

Written Answers — Department of Finance: Financial Institutions Levy (4 Apr 2017)

Michael Noonan: As I outlined in my response to the Deputy's questions on 17th January and 28th February last, in accordance with Section 126AA of the Stamp Duties Consolidation Act 1999, an annual levy was imposed on certain financial institutions for each of the years 2014, 2015 and 2016. The levy was charged at 35% of the Deposit Interest Retention Tax (DIRT) paid by a financial...

Written Answers — Department of Finance: Mortgage Arrears Rate (4 Apr 2017)

Michael Noonan: The Deputy will be aware that the Central Bank has an ongoing role in monitoring the level of arrears and negative equity on mortgage and other loan assets.  The Programme for a Partnership Government contains a range of commitments in the broad housing and banking area and my Department regularly engages with the Central Bank on all the Programme for Government Commitments which will...

Written Answers — Department of Finance: Public Interest Directors (4 Apr 2017)

Michael Noonan: In the Programme for a Partnership Government ('PPG') the Government has committed to, "Cease to appoint new Public Interest Directors to the banks, and reform the procedures for the appointment of bank directors by the State, with a view to increasing transparency in the process".  As the Deputy will be aware, the rights for the State to appoint public interest...

Written Answers — Department of Finance: Fuel Laundering (4 Apr 2017)

Michael Noonan: It is inherently difficult to estimate with confidence the extent of any illegal activity and it is not possible, therefore, to put a figure on the cost to the Exchequer of fuel laundering. Nevertheless, the serious threat that criminal activity of this kind poses to legitimate and compliant businesses, consumers and the Exchequer is recognised, and action against it has accordingly been a...

Written Answers — Department of Finance: Tax Code (4 Apr 2017)

Michael Noonan: It is my intention to introduce a tax on sugar-sweetened drinks in April 2018, to coincide with the introduction of a similar tax in the UK at that time. The 2016 Tax Strategy papers estimated potential yields from a tax on sugar sweetened drinks based on a total soft drink sales in Ireland of 685.4 million litres per annum.  The TSG papers estimated that the tax would apply to 60% of...

Written Answers — Department of Finance: Credit Availability (4 Apr 2017)

Michael Noonan: As the Deputy may be aware, the most recent ISME Bank Watch Survey for Quarter 1 2017 noted that 23% of companies who applied for funding in the three months covering December 2016 to February 2017 were refused credit by their banks.  The figure the Deputy is referring to was reported in the survey results for Quarter 2 2016. The Deputy will also be aware that my Department conducts...

Written Answers — Department of Finance: Corporation Tax Regime (4 Apr 2017)

Michael Noonan: The European Commission published the Final Decision in the Apple State aid case in December 2016.  This was sent to Ireland at the end of August 2016.  Ireland does not accept the Commission's analysis, which is why we have lodged an application with the General Court of the European Union to annul the whole Decision.  It will likely be several years before the matter is...

Written Answers — Department of Finance: Banking Sector Regulation (4 Apr 2017)

Michael Noonan: The Programme for Government commits the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs to thoroughly investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions. It also calls for the investigation of a new model of community banking that could provide a suite of banking services through the Post Office...

Written Answers — Department of Finance: European Investment Bank Loans (4 Apr 2017)

Michael Noonan: My Department in conjunction with a number of other Departments as well as ISIF and the NTMA, is examining the feasibility of establishing, in conjunction with the private sector, a Housing Investment Fund, in a way that is both off-balance sheet and is commercially viable. This vehicle should be capable of funding the delivery of substantial new mixed-tenure residential developments,...

Written Answers — Department of Finance: Credit Union Regulation (4 Apr 2017)

Michael Noonan: As previously referred to in Parliamentary Question number 208 of 28 February 2017, the Government has been exploring potential mechanisms that would facilitate investment in social housing, including the off-balance sheet potential of private institutional investment. Ireland Strategic Investment Fund (ISIF) led engagement on the Housing Fund mentioned in Rebuilding Ireland, with a...

Written Answers — Department of Finance: Brexit Issues (4 Apr 2017)

Michael Noonan: The Government's headline priorities in response to Brexit are well known: minimising the impact on trade and the economy; protecting the Northern Ireland Peace Process; maintaining the Common Travel Area; and influencing the future of the European Union. It is quite clear that there are major challenges ahead for the EU, the UK and for Ireland. The position in relation to the border...

Written Answers — Department of Finance: Departmental Reports (4 Apr 2017)

Michael Noonan: The consultation process on "the use of intermediary-type employment structures and self-employment arrangements and their impact on tax and PRSI" invited submissions from interested parties on possible measures to address the loss to the Exchequer that may arise under two sets of arrangements: - where an individual, who would otherwise be an employee, establishes a company to provide his or...

Written Answers — Department of Finance: Common Consolidated Corporate Tax Base Negotiations (4 Apr 2017)

Michael Noonan: The European Commission's proposal for a Common Consolidated Corporate Tax Base (CCCTB) was published in October 2016 and discussed at the November 2016 ECOFIN meeting.  During the discussion, which was held in public session, a number of my fellow Ministers gave some initial impressions of the proposal. At the December 2016 ECOFIN, Council Conclusions were approved in...

Written Answers — Department of Finance: Credit Unions (4 Apr 2017)

Michael Noonan: The Credit Union Advisory Committee (CUAC) in its Review of Implementation of the Recommendations in the Commission on Credit Unions Report (the Report) recommended the establishment of an Implementation Group for a specified period of time to oversee and monitor implementation of its recommendations in a methodical manner and to advise the Minister for Finance on...

Written Answers — Department of Finance: Credit Union Services (4 Apr 2017)

Michael Noonan: The Credit Union Act, 1997 (1997 Act) sets out the services that a credit union may provide to its members. In addition, the Credit Union Act 1997 (Regulatory Requirements) Regulations 2016 (2016 Regulations) set out services exempt from additional services requirements. Where a credit union wishes to provide services to its members, other than those services that are provided for under the...