Results 1,081-1,100 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Costs (22 Feb 2017)

Michael Noonan: I am advised by Revenue that a Costs of Tax Expenditures Table is available on the Revenue Statistics webpage at www.revenue.ie/en/about/statistics/costs-expenditures.html. This table provides an annual breakdown of the cost to the Exchequer for 'Health Expenses' from the years 2004 to 2014, the latest year for which data are available.  The table will be updated in due course as newer...

Written Answers — Department of Finance: Disabled Drivers Grant (21 Feb 2017)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT, up to a certain limit, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a fuel grant, and an exemption from Motor Tax. The Scheme represents a significant tax expenditure. Between the Vehicle...

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

Michael Noonan: The Government is conscious that there is currently a shortage of housing and of the particular challenges faced by first-time buyers in obtaining the deposit required to purchase a home, given the Central Bank's macro prudential rules. As the Deputy will be aware, the 'Help to Buy' initiative was initially announced on 19 July 2016 as part of 'Rebuilding Ireland: Action Plan for Housing and...

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

Michael Noonan: I propose to take Questions Nos. 120 to 123, inclusive, together. The Deputy may be aware that a two-stage process is employed for the Help to Buy incentive, under which individuals submit an application for the incentive to receive an indication of the level of tax relief that may be available to them, and subsequently submit a claim for a tax refund. This refund is generally payable to the...

Written Answers — Department of Finance: Tax Reliefs Data (21 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 124 and 125 together. I am advised by Revenue that a post-Budget 2017 Ready Reckoner is available on the Revenue Statistics webpage at the link: . In relation to the Deputy's Questions, page 11 of this Ready Reckoner shows the estimated cost or yield from changing the ceiling on the annual earnings limit for determining maximum allowable contributions for...

Written Answers — Department of Finance: NAMA Operations (21 Feb 2017)

Michael Noonan: I would like to refer the Deputy to Parliamentary Questions Nos. 122 and 123 of 24 May 2016 which also address these questions. Currently NAMA expects to redeem 100% of its guaranteed senior debt by the end of 2017 and expects to redeem its subordinated debt in March 2020. NAMA will focus on completing its ongoing deleveraging, its Dublin Docklands SDZ and residential...

Written Answers — Department of Finance: State Banking Sector (21 Feb 2017)

Michael Noonan: In the first instance it is important to note that these type of transactions, i.e. the sale of shares in our banking investments, do not result in a beneficial impact to the General Government Balance (GGB) under ESA 2010 rules. This is due to the fact that they are classified as a 'financial transaction' or essentially the exchange of one form of asset (shares, equities, loans) for another...

Written Answers — Department of Finance: Betting Licences Data (21 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 128, 140 and 141 together. On course bookmakers are exempt from betting duty on bets accepted during and at a race meeting under section 68(1)(a) of the Finance Act 2002. Accordingly, there were no receipts from this sector. However, this exemption does not apply to bets entered into by any means of telecommunications, such as by telephone or online. Annual...

Written Answers — Department of Finance: Additional Voluntary Contributions (21 Feb 2017)

Michael Noonan: I take it that the Deputy is referring to access to Additional Voluntary Contributions (AVCs) prior to retirement. As outlined in my response to Parliamentary Question No. 165 of 27 September 2016 (PQ 26673/16), Finance Act 2013 introduced Section 782A of the Taxes Consolidation Act 1997 which provided members of occupational pension schemes with a once-off opportunity to access up...

Written Answers — Department of Finance: Banking Sector (21 Feb 2017)

Michael Noonan: As the Deputy is aware, the relationship between the Minister for Finance and the banks in which the State has a shareholding are governed by Relationship Frameworks. Under the terms of these Frameworks matters are deemed to be 'material' and require the bank to bring the matter to my attention, for either consultation or, in certain circumstances, for consent. The Relationship Frameworks set...

Written Answers — Department of Finance: Banking Sector (21 Feb 2017)

Michael Noonan: As the Deputy is aware, the relationship between the Minister for Finance and the banks in which the State has a Shareholding are governed by Relationship Frameworks. Under the terms of these Frameworks matters are deemed to be 'material' and require the bank to bring the matter to my attention. As I have indicated previously to the Deputy, the Relationship Framework with AIB sets...

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

Michael Noonan: I assume that the Deputy is referring to the sale of non-performing loans. I can confirm that I have not received a consultation request with regard to a material disposal of loans, as would be required under the terms of the Relationship Framework with the bank concerned. However my officials have informed me that the bank concerned is considering such a process though I understand...

Written Answers — Department of Finance: NAMA Staff Remuneration (21 Feb 2017)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that no performance related payments have been made to date by the NTMA in respect of financial year 2016. Any performance related payments made in respect of financial year 2016 will be published in the NTMA's 2016 Annual Report. Performance related payments made in 2016 in respect of financial year 2015 totalled...

Written Answers — Department of Finance: Public Relations Contracts Expenditure (21 Feb 2017)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that its communications team is supported by an external service provider, Gordon MRM. This service, which includes out-of-hours contacts for the media, provides support across all of the NTMA's business areas: - Funding and Debt Management; - Ireland Strategic Investment Fund (ISIF); - National Development Finance Agency (NDFA);...

Written Answers — Department of Finance: Exchequer Revenue (21 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 135 and 136 together. I am advised by Revenue that the available information is in respect of net tax receipts from entertainment activities using the sectorial identifier on the tax records called "NACE code" (the current version of which is referred to as NACE Rev.2), an internationally recognised economic activity code system. The receipts shown in the...

Written Answers — Department of Finance: Commercial Property (21 Feb 2017)

Michael Noonan: The recent growth in the demand for office space is a reflection of the recovery in the economy and the sustained growth in overall employment. According to the Savills report referenced by the Deputy, the take-up of office space exceeded 200,000 sq.m for the third successive year in 2016. Given the sustained level of demand and the increase in prime office rents, the construction of...

Written Answers — Department of Finance: Banking Sector Remuneration (21 Feb 2017)

Michael Noonan: The Capital Requirements Directive IV (CRD IV), has introduced a European wide framework governing remuneration for bank executives. The European framework on remuneration applies to all financial institutions subject to CRD IV, which I as Minister for Finance am responsible for implementing. The disclosure of the bonuses paid in Ireland to relevant individuals in 2015 is part...

Written Answers — Department of Finance: Insurance Industry Regulation (21 Feb 2017)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept. This position is...

Written Answers — Department of Finance: VAT Rate Application (21 Feb 2017)

Michael Noonan: The 9% reduced VAT rate for tourism related services was introduced in July 2011 as part of the Government Jobs Initiative. It applies to restaurant services, hotel and holiday accommodation; various entertainment services; the use of sporting facilities; hairdressing services; and newspapers. Revenue estimates the cost to the exchequer of the reduced 9% VAT rate, since its introduction...

Written Answers — Department of Finance: Primary Medical Certificates Eligibility (21 Feb 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...