Results 6,881-6,900 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Tax Exemptions (23 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 244, 245 and 263 together. Section 10A of the Finance (Local Property Tax) Act 2012 (as amended) provides for a temporary exemption of at least three years from the charge to Local Property Tax (LPT) for residential properties that have been certified under Regulations made by the Minister for the Environment, Community and Local Government (S.I No 147 of...

Written Answers — Department of Finance: Deposit Guarantee Scheme (23 Jun 2015)

Michael Noonan: The Deposit Guarantee Scheme (DGS) provides protection of up to €100,000 per saver per credit institution, including credit unions. The scheme gives confidence to depositors that their money is safe in the event that a financial institution gets into financial difficulty. Directive 2014/49/EU is a new Directive in relation to the DGS which is being transposed into...

Written Answers — Department of Finance: Tax Collection (23 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that inheritance tax may be paid by instalments where a person inherits real property (i.e. buildings and land). However, there is no statutory entitlement to this facility were a person inherits property other than real property, unless a person inherits a limited interest only (i.e. for the duration of a life or a specified period) in the property....

Written Answers — Department of Finance: Departmental Correspondence (23 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 248, 249 and 251 together. The exchange of correspondence, to which the Deputy refers, arose as a response to views attributed in the press to the Central Bank of Ireland regarding the overall position of the insurance industry and regarding named companies.  As some of these important issues had not previously been raised with my...

Written Answers — Department of Finance: Central Bank of Ireland Staff (23 Jun 2015)

Michael Noonan: As Minister for Finance, I have no role in the employment or departure of staff in the Central Bank. Under the Central Bank Act 1942, as amended, the Central Bank Commission is responsible for administrating the staffing of the Central Bank with a view to enabling the Central Bank to perform and exercise its functions and...

Written Answers — Department of Finance: Electric Vehicles (23 Jun 2015)

Michael Noonan: I am informed by the Revenue Commissioners that section 135C of the Finance Act, 1992 currently provides for a remission or repayment of Vehicle Registration Tax (VRT) on a range of series production electric vehicles. In summary, these reliefs are as follows: - Categories of vehicle Amount of VRT Hybrid electric: electric and internal combustion Passenger and light commercial...

Written Answers — Department of Finance: Mortgage Data (23 Jun 2015)

Michael Noonan: Firstly, it is important to note that a lender regulated by the Central Bank of Ireland who is no longer providing new mortgage loans is still required to comply with the relevant provisions of Irish financial services legislation in relation to their existing loan book. This includes the Code of Conduct on Mortgage Arrears (CCMA). As the Deputy will be aware, borrowers whose loans are...

Written Answers — Department of Finance: Financial Services Regulation (23 Jun 2015)

Michael Noonan: Effective from 1 February 2008, the Central Bank of Ireland is responsible for the authorisation and supervision of Retail Credit Firms.  Retail Credit Firms are authorised to provide credit, in the form of cash loans, directly to individuals, but are not licensed to accept deposits. Some firms authorised in this category are mortgage lenders.  In light of their activities,...

Written Answers — Department of Finance: IBRC Loans (23 Jun 2015)

Michael Noonan: As the Deputy will be aware the terms of reference of the proposed Commission of Investigation in relation to IBRC include the following explicit term of reference dealing with other matters of concern: "The Commission shall report on any other matters of concern arising from its investigation of the above matters and make any further recommendations as the Commission sees fit." Both...

Written Answers — Department of Finance: Tax Reliefs Eligibility (23 Jun 2015)

Michael Noonan: Section 469 of the Taxes Consolidation Act 1997 (the Act) 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. In the context of this section health care is defined as the prevention, diagnosis, alleviation or treatment of an ailment, injury, infirmity, defect or disability. This...

Written Answers — Department of Finance: Vehicle Registration (23 Jun 2015)

Michael Noonan: Section 134(5) of the Finance Act 1992 provides that the Minister for Finance 'may authorise the Commissioners to register a vehicle, subject to such conditions, limitations or restrictions (if any) as they may impose, either without payment of vehicle registration tax or on payment of the tax at less than the rate ordinarily chargeable or, where the said tax has been paid, to repay the tax...

Written Answers — Department of Finance: Financial Services Regulation (23 Jun 2015)

Michael Noonan: The Code of Conduct for Business Lending to Small and Medium Enterprises (SME Code)  was introduced in 2009 and sets out important protections for SMEs when they are accessing credit or in financial difficulties. A limited review was carried out in 2011 focussing on the 'Financial Difficulties' provisions, with new and amended provisions introduced with effect from 1 January 2012. On 11...

Written Answers — Department of Finance: Credit Unions Regulation (23 Jun 2015)

Michael Noonan: The imposition of lending restrictions is the responsibility of the Registrar of Credit Unions, who is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. As Minister for Finance, my...

Written Answers — Department of Finance: Tax Rebates (23 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that 1,083,104 PAYE Reviews were carried out in 2014. This includes a small number of reviews for 2014 but mainly refers to reviews for 2013 and earlier years. The value of refunds paid amounted to €444 million. It is worth noting that there are many reasons why PAYE taxpayers request a review; for example claims for medical expenses incurred...

Written Answers — Department of Finance: VAT Exemptions (23 Jun 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the service provided by Personal Insolvency Practitioners does not qualify for exemption in accordance with the VAT Directive, Irish VAT law, and relevant decisions of the European Court of Justice.  Therefore, like other insolvency services such as those provided by liquidators, receivers and examiners, the service provided by a Personal...

Written Answers — Department of Finance: Loan Books Purchasers (23 Jun 2015)

Michael Noonan: As the Deputy will be aware, borrowers whose loans are sold to unregulated entities will be protected by the Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 when it is enacted.  The purpose of the Bill is to ensure that consumers retain the protections they had prior to the sale of their loan.  This Bill will require entities dealing with the consumer...

Written Answers — Department of Finance: Small and Medium Enterprises Debt (23 Jun 2015)

Michael Noonan: The Revenue Commissioners have a strong focus on making sure that every taxpayer and business complies with the obligation to pay the right amount of tax or duty, including any outstanding interest or penalties, in full and on time.  That is an appropriate and correct focus for the Commissioners and one that I fully endorse because timely tax compliance is of critical importance to the...

Written Answers — Department of Finance: Credit Availability (23 Jun 2015)

Michael Noonan: This Government recognises that small businesses play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy since 2011 has been focused on ensuring that all viable SMEs have access to an appropriate supply of credit facilities from a diverse range of bank and non-bank sources. Having completed a process of deleveraging, both AIB...

Written Answers — Department of Finance: Credit Availability (23 Jun 2015)

Michael Noonan: The Government recognises that small businesses, including those in the hotel and catering industry, play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy since 2011 has been focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. The...

Written Answers — Department of Finance: Credit Availability (23 Jun 2015)

Michael Noonan: The Government recognises that small businesses, including those in the manufacturing and services sector, play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy since 2011 has been focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. My...