Results 10,901-10,920 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Financial Services Regulation (2 Jul 2014)

Michael Noonan: I, as Minister for Finance have no statutory role in the supervision and regulation of foreign exchange services. The Central Bank has informed me that it cannot comment on any investigations being undertaken by other regulators. The Central Bank does not have a role in the setting of daily benchmark foreign exchange rates. However for clarification, the Central Bank has a wider...

Written Answers — Department of Finance: Bank Restructuring (2 Jul 2014)

Michael Noonan: As the Deputy is aware, the ECB Comprehensive Assessment is currently underway. Work will be ongoing over the coming months with the final results due for publication in late 2014. With regard to Permanent TSB, a way forward for was agreed with the Troika in April 2012 which envisaged it playing an important role in the future of Irish retail banking, being a more focused retail...

Written Answers — Department of Finance: Tax Reliefs Application (2 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners that relief in respect of health expenses is allowed in accordance with the provisions of section 469 of the Taxes Consolidation Act 1997 (TCA).  Any contribution made by an individual in defraying expenses in the nature of maintenance or treatment in a nursing home on behalf of an individual, where that individual has received State support...

Written Answers — Department of Finance: Budget 2015 (2 Jul 2014)

Michael Noonan: As the Deputy is aware a car scrappage scheme was previously in place from January 2010 to June 2011. Under that scheme, Vehicle Registration Tax (VRT) relief of up to €1,500 was provided where a car of 10 years or older was scrapped and a new car of CO2 emissions bands A or B purchased between January 2010 and December 2010, with reduced VRT relief of €1,250 in place between...

Written Answers — Department of Finance: Tax Yield (2 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 68, 69 and 70 together. I am informed by the Revenue Commissioners that the estimated yield that could be raised in a full year from the proposed excise increases mentioned by the Deputy are as set out in the table below. I am advised by the Commissioners that these estimates are based on the assumption of no exceptional change in behaviour by consumers...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Administration (2 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners that Revenue's HRI online system was developed to accept works and payments qualifying under the Home Renovation Incentive.  The Home Renovation Incentive applies to qualifying works carried out and paid for between 25 October 2013 and 31 December 2015.  Payments made before 25 October 2013 would therefore not qualify for relief under the...

Written Answers — Department of Finance: Budget 2015 (2 Jul 2014)

Michael Noonan: The Deputy has previously raised the question of whether I would introduce a car 'swappage scheme', which SIMI proposed in their 2014 pre-Budget submissions. The proposal was considered at the time but given budgetary constraints was not proceeded with. In respect of a car scrappage scheme, the Deputy will be aware that a scheme of that nature was previously in place from January 2010 to...

Written Answers — Department of Finance: Banks Recapitalisation (1 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 109 and 125 together. The Euro-area Heads of State or Government (HoSG) agreed in June 2012 that "it is imperative to break the vicious circle between banks and sovereigns", and that when a Single Supervisory Mechanism, involving the ECB, is in place and operational, the European Stability Mechanism could recapitalise banks directly. It also agreed that the...

Written Answers — Department of Finance: Tax Credits (1 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 110 and 111 together. As you are aware the One-Parent Family Tax Credit (OPFTC) has been replaced with a new Single Person Child Carer Credit from 1 January 2014. The restructured credit is of the same value i.e. €1,650 per annum as the one-parent family tax credit and also includes the same entitlement to the additional €4,000 extended...

Written Answers — Department of Finance: Credit Availability (1 Jul 2014)

Michael Noonan: The provision of credit is governed by legislation including, the Consumer Credit Act 1995 and the European Communities (Consumer Credit Agreements) Regulations 2010.  In addition, Regulated Financial Service Providers must comply with the Consumer Protection Code 2012 when offering, recommending, arranging or providing regulated activities, including mortgages and loans, to consumers. ...

Written Answers — Department of Finance: Financial Services Ombudsman Data (1 Jul 2014)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the carrying out of his duties.  I have no role in the day to day workings of the office or in the decision which he takes. I have been advised by the Office of the Financial Services Ombudsman that it does not categorise complaints under the heading of lenders not complying fully or...

Written Answers — Department of Finance: Banking Operations (1 Jul 2014)

Michael Noonan: Further to my previous answer on 30 April last, my Department has consulted the State supported banks.  In response, the two pillar banks, AIB and Bank of Ireland, have both advised that they currently do not have such a scheme in place in either their PDH or BTL portfolios in the State.  Permanent TSB has advised that it has in place limited bond arrangements in relation to...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (1 Jul 2014)

Michael Noonan: As the Deputy is aware, a Primary Medical Certificate is required to claim the tax reliefs provided under the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme.  The Senior Medical Officer for the relevant local Health Service Executive administrative area makes a professional clinical determination as to whether an individual applicant satisfies the medical criteria to...

Written Answers — Department of Finance: Tax Data (1 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the latest relevant sector based information available on individuals in the taxi industry is derived from Income Tax returns filed for the tax year 2012. These figures are available for self-employed taxpayers only. On this basis, there are approximately 17,500 individuals in the taxi industry that made returns for tax purposes for the tax...

Written Answers — Department of Finance: EU Directives (1 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 117 and 118 together. The requirement to obtain and hold information on beneficial ownership stems from the provisions of the proposed 4th Anti-Money Laundering Directive which seeks to update the 3rd Directive to take account of the February 2012 revision of the international standards for anti-money requirements and the recommendations of the Financial...

Written Answers — Department of Finance: Tax Yield (1 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that whether or not a capital gains tax charge arises in the State on a gain made by any individual on the disposal of Bank of Ireland shares depends on whether the individual making the disposal is resident or ordinarily resident in the State in the year in which the disposal takes place. If the individual is resident or ordinarily resident in...

Written Answers — Department of Finance: VAT Rate Application (1 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners that charitable donations made by text message, excluding any fees charged by the telecommunications provider or other service provider, are outside the scope of Irish VAT.  Any fees charged by the telecommunications service providers in connection with the facilitation of donations are liable to VAT at the standard rate of 23%. The VAT...

Written Answers — Department of Finance: NAMA Accounts (1 Jul 2014)

Michael Noonan: I have been informed by NAMA that National Asset Sarasota LLC (NASLLC) was established by NAMA in August 2013 as a Special Purpose Vehicle in the US to acquire a property asset located in the US, in settlement of debt, owed to NAMA.  Details of NAMA's Group structure including details in respect of NASLLC are disclosed on pages 10 to 12 of the Q4 Report and Accounts. As disclosed in note...

Written Answers — Department of Finance: NAMA Loans Sale (1 Jul 2014)

Michael Noonan: I am advised by NAMA that the sale price for the recent Project Eagle portfolio of assets was agreed in sterling.  NAMA has had foreign exchange hedging in place against these sterling assets since acquisition and, on completion of the sale, this hedging was unwound.

Written Answers — Department of Finance: NAMA Bonds (1 Jul 2014)

Michael Noonan: I am advised by NAMA that its interest expense is detailed in note 6 of its 2013 Annual Report.  It notes that NAMA Group interest on senior debt securities in issue was €126m for the financial year 2013 and that the interest expense on derivatives used to hedge a proportion of the senior bonds in issue was €232m.  NAMA's policy as regards its interest rate...