Results 741-760 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Student Data (22 Mar 2017)

Michael Noonan: I propose to take Questions Nos. 119 and 120 together. Based on the details supplied the Deputy's question relates to AIB. I have received the following response from AIB: "AIB has not sold or transferred the ownership of student loans to any third parties. AIB engages with third parties to support the recovery and restructure of the debt where required."

Written Answers — Department of Finance: Financial Services Ombudsman (22 Mar 2017)

Michael Noonan: I propose to take Questions Nos. 121 and 122 together. Section 57 CC of the Central Bank Act 1942 provides that "The Financial Services Ombudsman shall ensure that investigations are conducted in private." Therefore I am not in a position to comment on ongoing cases. However, section 72 of the Central Bank (Supervision and Enforcement) Act 2013 gave the Financial Services Ombudsman the...

Written Answers — Department of Finance: Financial Services Ombudsman Staff (22 Mar 2017)

Michael Noonan: The Financial Service Ombudsman's Bureau (FSO) publishes staffing levels and details in its annual report.  It also provides details of its current staffing arrangements on its website.  I understand that there were 34 staff employed in the Financial Service Ombudsman Bureau at the end of 2016. This was broken down as follows: - Ombudsman/Deputy Ombudsman2 - PA to...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (21 Mar 2017)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and Vehicle Registration Tax (up to a certain limit), an exemption from motor tax and a grant in respect of fuel, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities. To qualify for the Scheme an applicant must be in...

Written Answers — Department of Finance: Commencement of Legislation (21 Mar 2017)

Michael Noonan: Section 86A of the VAT Consolidation Act 2010 (as inserted by Section 47 of the Finance Act 2016) is an enabling provision that allows me to exclude by Ministerial Order any specified agricultural sector where the business structures or models employed result in a systematic excess of flat-rate addition payments over input costs borne by flat-rate farmers within that...

Written Answers — Department of Finance: Betting Regulations (21 Mar 2017)

Michael Noonan: The legislation governing the licencing of bookmakers is contained within the Betting Acts 1931 to 2015. The enactment of the Betting (Amendment) Act 2015 was the first step towards updating the betting regulatory regime and in particularly put in place a regulatory framework for remote operators.  The Betting Acts 1931 to 2015 provide that the Revenue Commissioners may issue a...

Written Answers — Department of Finance: Tax Credits (21 Mar 2017)

Michael Noonan: The Deputy may be aware that there are currently a number of supports within the tax system available to disabled persons or to persons who provide care to disabled persons. These include the Blind Person's Tax Credit and the Incapacitated Child and Dependent Relative Tax Credits. Relief from tax is also available in relation to the costs incurred in employing persons to take care of...

Written Answers — Department of Finance: National Debt (21 Mar 2017)

Michael Noonan: The National Debt is the net debt incurred by the Exchequer after taking account of cash balances and other financial assets. Gross National Debt is the principal component of General Government Debt. Details of the provisional and unaudited composition of Gross National Debt, its residual maturity and average interest rates as at end-2016 are set out in the following table. Gross...

Written Answers — Department of Finance: National Debt Servicing (21 Mar 2017)

Michael Noonan: As I have previously stated it is my position that the proceeds from the sale of the State's shareholdings in Irish banks, including AIB, will be used to reduce the outstanding level of public debt.  The rationale for this approach is that the State's debt levels have been consistently identified as a significant risk factor by national and...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (21 Mar 2017)

Michael Noonan: The Central Bank has advised me that under the framework of the Tracker Mortgage Examination lenders are required to appoint external independent third party assurers to oversee the Tracker Examination and to ensure that it is being carried out in line with the Central Bank s framework for the conduct of the Tracker Examination. However, the Central Bank has also advised that...

Written Answers — Department of Finance: Revenue Commissioners Audits (21 Mar 2017)

Michael Noonan: I am advised by Revenue that it undertakes a broadly based programme of compliance interventions that aims to support a strong voluntary tax compliance culture, identify and tackle compliance risks, effectively combat and sanction tax evasion and fraud and minimise the burden on the compliant taxpayer. The compliance interventions undertaken by Revenue, which are risk focused, range from...

Written Answers — Department of Finance: Vehicle Registration (21 Mar 2017)

Michael Noonan: I presume the Deputy is referring to the recent Advocate General Opinion in relation the Court of Justice of the European Union Case C-522/15 and some of the newspaper reports arising from that opinion. Firstly, I would like to clarify the background.  The EU Commission have purported that Ireland has not fulfilled its obligations under Article 56 (freedom to provide services) of the...

Written Answers — Department of Finance: Tax Credits (21 Mar 2017)

Michael Noonan: I propose to take Questions Nos. 179, 182 and 222 together. The incapacitated child tax credit and the dependent relative tax credit are two separate and distinct tax credits.  The entitlement to the incapacitated child tax credit is provided for in section 465 of the Taxes Consolidation Act (TCA) 1997 (as amended).  This tax credit is €3,300 per qualifying child for...

Written Answers — Department of Finance: Tax Collection (21 Mar 2017)

Michael Noonan: I am advised by Revenue that as regards any element of tax default, details of how a taxpayer can correct any errors that have been made in or remedy any omissions from any tax return they have filed are set out in Revenue's Code of Practice for Revenue Audit and other Compliance Interventions (the Code), which has recently been...

Written Answers — Department of Finance: Mortgage Book Sales (21 Mar 2017)

Michael Noonan: As the Deputy will be aware, when a consumer takes out a loan from a regulated lender it is subject to all the relevant Irish and EU consumer protections. I understand from the Central Bank that most loan agreements include a clause that allows the original lender to sell the loan on to another firm. It is important to highlight that the transfer of a loan from one entity to...

Written Answers — Department of Finance: Mortgage Interest Relief Extension (21 Mar 2017)

Michael Noonan: At present, Section 244 of the Taxes Consolidation Act 1997 provides for tax relief in respect of interest paid on qualifying home loans taken out on or after 1 January 2004 and on or before 31 December 2012, with relief being available until 31 December 2017.  Mortgage interest relief has been abolished for homes purchased since 1 January 2013. In the Programme for a...

Written Answers — Department of Finance: Credit Union Regulation (21 Mar 2017)

Michael Noonan: I propose to take Questions Nos. 184 and 185 together. The Registrar of Credit Unions at the Central Bank of Ireland is responsible for the regulation of credit unions registered under the Credit Union Act, 1997 (1997 Act), as amended.  In accordance with Section 78(2) of the 1997 Act, credit unions are required to hold an Annual General Meeting (AGM), within four months of the end...

Written Answers — Department of Finance: Banks Recapitalisation (21 Mar 2017)

Michael Noonan: As the Deputy will be aware the Ireland Strategic Investment Fund (ISIF) holds the AIB shares on behalf of the State as part of its Directed portfolio. Dividend payments from the State's shareholding in the banks are therefore made in the first instance to the ISIF. It is important to note that payments from the ISIF to the Exchequer arising from...

Written Answers — Department of Finance: Sale of Aer Lingus (21 Mar 2017)

Michael Noonan: The Connectivity Fund was established as a sub-fund of the Ireland Strategic Investment Fund (ISIF) to invest the €335 million proceeds from the sale of the State's shareholding in Aer Lingus with the aim of enabling and enhancing Ireland's physical, virtual and energy connectivity. The ISIF has completed the first two investments from this fund with a combined value of...

Written Answers — Department of Finance: Help-To-Buy Scheme Administration (21 Mar 2017)

Michael Noonan: The legislative provisions for the Help to Buy incentive are set out in section 477C of the Taxes Consolidation Act 1997 (TCA), as inserted by section 9 of the Finance Act 2016. The incentive applies for the period from 19 July 2016 to 31 December 2019. I can confirm that a qualifying refund under Help to Buy is paid in one lump sum by Revenue.  A first-time buyer or...