Results 10,581-10,600 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Data (16 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the number of registered contractors on the rates of deduction that are provided for in the  electronic Relevant Contracts Tax (eRCT) regime for the years in question are set out in the following table. They represent details of all contractors who received a payment under the eRCT system during these years. Year \Rate 0% 20% 35% Total...

Written Answers — Department of Finance: Property Taxation Deferrals (16 Jul 2014)

Michael Noonan: In considering how to provide for a deferral regime for those who were unable to make their Local Property Tax (LPT) payments, including those with substantial mortgage repayments, I was mindful of the recommendations contained in the report of the Thornhill Group. In their report, the Thornhill Group recommended that where taxpayers are entitled to, and have elected for, deferral of LPT,...

Written Answers — Department of Finance: Tax Reliefs Application (16 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the relevant legislation governing the Drivers & Passengers with Disabilities Scheme is contained in Section 92 of the Finance Act 1989 (as amended), Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No. 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994). The number of...

Written Answers — Department of Finance: Tax Settlements (16 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the case in question is a disputed matter that is currently before an external appellate body.  Consequently, it would not be appropriate for me to make any comment on the matter.

Written Answers — Department of Finance: Credit Unions Services (16 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 59 to 62, inclusive, together. The Strategy for Financial Inclusion was presented to Government in December 2011. It called for the nationwide launch of a Basic Payment Account as a first step in promoting Financial Inclusion. A pilot project for a Basic Bank Account was run as one of the tasks required under the strategy. The pilot objectives were to...

Written Answers — Department of Finance: IBRC Loans (16 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 63 to 66, inclusive, together. I am advised by the Special Liquidators that a mixture of performing and non-performing commercial loans  have been sold and they are in the process of devising and implementing a further sales process in respect of the unsold assets. I am advised that the information requested in relation to the value and number of loans...

Written Answers — Department of Finance: VAT Rate Application (16 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that under Irish and EU VAT law the place of supply for VAT on services connected to buildings is the Member State in which the building is located. Therefore, the rate of VAT applicable to traders from outside the State that trade in the supply, installation and monitoring of emergency alarm systems, is the same as the VAT rate for domestic...

Written Answers — Department of Finance: Living City Initiative (16 Jul 2014)

Michael Noonan: Officials from my Department have held preliminary discussions with the relevant local authorities to identify the areas of the six cities, Cork, Dublin, Galway, Kilkenny, Limerick and Waterford, which might fall within the scope of the scheme. Each of the local authorities have now submitted proposals on the areas which they believe should be...

Written Answers — Department of Finance: Commencement of Legislation (16 Jul 2014)

Michael Noonan: The following are the details of legislative provisions passed by the Oireachtas since 2011 but which are not yet formally commenced which I, as Minister for Finance, have lead responsibility: Finance Act 2011 - Provision Purpose S. 49(1)         & #xa0;         &...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Second Stage (15 Jul 2014)

Michael Noonan: I thank Senators for their thoughtful contributions and general support for the Bill. The establishment of the strategic banking corporation of Ireland by increasing the availability of longer-term flexible debt finance which is appropriately priced will provide SMEs with access to the type of patient intelligent capital that will increase productive investment, encourage growth and generate...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Second Stage (15 Jul 2014)

Michael Noonan: I am pleased to present the strategic banking corporation of Ireland Bill to the House. This is a significant Bill, providing for the establishment of the strategic banking corporation of Ireland, or the SBCI. By increasing the availability of longer-term flexible debt finance, which is appropriately priced, the establishment of the SBCI will provide SMEs with access to the type of patient...

Written Answers — Department of Finance: Illicit Trade in Tobacco (15 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners, who have responsibility for the collection of tobacco products tax and for tackling illegal activity in the tobacco trade, that they are very aware of the threat that shadow economy activity poses.  Revenue collects some €1 billion annually in tobacco products tax so protection of this tax and tackling fraudulent activity will continue to...

Written Answers — Department of Finance: VAT Exemptions (15 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 160 and 249 together. With regard to reducing the costs involved in a home owner being made bankrupt, I have been informed by my colleague, the Minister for Justice and Equality, that fees charged in the courts are set by means of Statutory Instrument. Court fees orders are made by the Minister for Justice and Equality with the consent of the Minister for...

Written Answers — Department of Finance: Flood Risk Insurance Cover (15 Jul 2014)

Michael Noonan: I am very much aware of the difficulties that the absence of flood insurance cover can cause to householders and businesses. However, neither I nor the Central Bank of Ireland, have the power to direct insurance companies to provide flood cover to specific individuals. The provision of new flood cover or the renewal of existing flood cover is a commercial...

Written Answers — Department of Finance: Banking Sector (15 Jul 2014)

Michael Noonan: As you are aware, the ELG Scheme closed for new liabilities at midnight on the 28thMarch 2013. Eligible liabilities covered under the Scheme which were incurred up to midnight on the 28thMarch 2013 continue to be covered up to their maturity date which could be up to 5 years maximum from the date the liability was incurred. This means that covered liabilities will wind down over the period...

Written Answers — Department of Finance: Eligible Liabilities Guarantee (15 Jul 2014)

Michael Noonan: At the date of ending the Scheme for new liabilities (midnight 28th March 2013), ELG covered liabilities stood at c. €74.6 billion. The most up-to-date information available at 30th April 2014 illustrates that ELG covered liabilities have fallen following the run-off of maturing deposits and bonds to c. €16.3 billion a reduction of c. €58...

Written Answers — Department of Finance: Banks Recapitalisation (15 Jul 2014)

Michael Noonan: I can confirm to the Deputy that, since the State first invested in the banks, the following disposals have been made: Date of disposal Bank Transaction Total proceeds - including accrued interest/dividend April 2010 Bank of Ireland Cancellation of preference share warrants €491m December 2010 Allied Irish Banks Cancellation of preference share warrants €53m* ...

Written Answers — Department of Finance: Insurance Industry (15 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 165, 175 and 258 together. My officials have been in discussions with the Central Bank of Ireland, with the Liquidator of Setanta Insurance Company Limited (Setanta), the Accountant of the High Court and with the insurance industry representative bodies with regard to the position of Setanta policyholders.  We are endeavouring to obtain legal...

Written Answers — Department of Finance: IBRC Bond Issues (15 Jul 2014)

Michael Noonan: Subsequent to the liquidation of IBRC the Central Bank acquired €25bn of Floating Rate Notes (FRNs) and €3.46bn of Government Fixed Coupon 2025 bonds.  The Bank undertook to sell the combined portfolio of the FRNs and the fixed rate bond as soon as possible provided the conditions of financial stability permit.  The Bank also indicated that, as a minimum, it will...

Written Answers — Department of Finance: Promissory Notes (15 Jul 2014)

Michael Noonan: Under the original Promissory Note arrangement, the Government was scheduled to make annual payments of €3.1 billion thereby putting significant upward pressure on the amounts to be funded from the market. Following a long period of negotiation the notes were replaced in February 2013 with a portfolio of Irish Government bonds which consists of three tranches of €2 billion...