Results 11,001-11,020 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Data (24 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 167 to 171, inclusive, together. I have been advised by the Central Bank that it does not publish data on the particular basis requested.  The mortgage arrears statistics, including aggregated data by duration of arrears, as published by the Central Bank are available at the following: .

Written Answers — Department of Finance: Corporation Tax Regime (24 Jun 2014)

Michael Noonan: My Department is very conscious of the need to maintain a competitive corporate tax regime and to that end, closely monitors developments in other countries. The changes that I have introduced in recent budgets and Finance Acts highlight the on-going work by my Department to make sure that the Irish corporate tax offering stays competitive as we work to attract investment and jobs to...

Written Answers — Department of Finance: Universal Social Charge Application (24 Jun 2014)

Michael Noonan: The Universal Social Charge (USC) was introduced in Budget 2011 to replace the Income Levy and the Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit. It is a more sustainable charge than those it replaced.  It is applied at a low rate on a wide base.  I should point out that it was never intended that...

Written Answers — Department of Finance: NAMA Staff Recruitment (24 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 174 and 175 together. I appointed Ms Hurley to the Board of NAMA on the 8th of April as I felt she has significant experience in finance at both a senior management and board level which will make her an asset to the Board of NAMA. This appointment was not drawn from the public appointment process. Not all appointments are announced by a...

Written Answers — Department of Finance: NAMA Court Cases (24 Jun 2014)

Michael Noonan: I am advised by NAMA that all litigation initiated by it is a matter of public record as set out in its quarterly Section 55 reports.

Written Answers — Department of Finance: NAMA Court Cases (24 Jun 2014)

Michael Noonan: I am advised by NAMA that the information provided in the Section 55 report for the fourth quarter of 2013 is as set out in the NAMA Act, namely the title of the proceedings, the parties to it and the reliefs sought by NAMA. There is no requirement under the Act that the information provided should include a quantification of judgement sums sought in the proceedings.  To assist the...

Written Answers — Department of Finance: IBRC Liquidation (24 Jun 2014)

Michael Noonan: I have been advised by the Special Liquidators that Irish Bank Resolution Corporation Limited ("IBRC") engaged with foreign companies to assist with the recovery of assets beneficially held by the Quinn Group. This was disclosed in the Affidavit of Richard Woodhouse (Group Head of Specialised Asset Management of IBRC at that time) dated 31 October 2012 for the purposes of apprising the High...

Written Answers — Department of Finance: NAMA Operations (24 Jun 2014)

Michael Noonan: I am advised by NAMA that while such an approach has not been ruled out, it is not currently under consideration.  There are no such arrangements in place with any third parties.

Written Answers — Department of Finance: NAMA Expenditure (24 Jun 2014)

Michael Noonan: I am advised by NAMA that the total cost of asset searches to date is €1.55m.  The breakdown by year is as follows: Year Amount 2014 YTD   €116,000 2013    €760,000 2012     €496,000 2011       €176,000

Written Answers — Department of Finance: NAMA Property Construction (24 Jun 2014)

Michael Noonan: NAMA has said that it expects to fund the delivery of 4,500 houses and apartments to serve the Greater Dublin Area in the period from 2014 to end-2016.  Of this total, 334 properties have been completed to date in 2014, 1,523 are currently under construction with the balance at the pre-construction or planning stage and are expected to be constructed in 2015 and 2016. ...

Written Answers — Department of Finance: VAT Rate Application (19 Jun 2014)

Michael Noonan: VAT registration thresholds provide a mechanism for exempting business with a low turnover from having to register for VAT.  This reduces the administrative burden on both small businesses often at the developmental stage and on the Revenue Commissioners.  The VAT registration thresholds for small businesses are currently €37,500 in the case of a person supplying services and...

Written Answers — Department of Finance: Tax Code (19 Jun 2014)

Michael Noonan: There are a number of differences between the tax treatment of a self-employed individual and an employee.  The main ones are: - self employed individuals are required to account to the Revenue Commissioners for income tax, USC and PRSI through the self assessment system whereas, in the  case of an employee, the employer is required to account to the Revenue Commissioners for...

Written Answers — Department of Finance: Priory Hall Development (19 Jun 2014)

Michael Noonan: An Implementation Oversight Group, under the aegis of the Department of the Taoiseach, is in place to oversee the overall implementation of the October 2013 Priory Hall Resolution Framework. The Framework provides, inter alia, that the credit rating of the residents of Priory Hall apartments, in respect of the mortgage loans on those properties, be restored to the position it would have been...

Written Answers — Department of Finance: NAMA Loan Book (19 Jun 2014)

Michael Noonan: I would like to advise the Deputy that a detailed breakdown of the property securing NAMA's remaining loans by region and by sector is outlined on page 42 of its Annual Report and Financial Statements for 2013, which is available on the Agency's website, . In evidence to the Dáil Committee of Public Accounts on 29 May, NAMA indicated that it has an interest as a secured lender in...

Written Answers — Department of Finance: Property Taxation Exemptions (19 Jun 2014)

Michael Noonan: To be eligible for an exemption from the charge to Local Property Tax (LPT), a liable person must obtain a certificate from a competent person, such as an engineer or a geologist, confirming the presence of significant pyritic damage and, I am informed, a liable person cannot claim the exemption until the relevant certificate has been issued in respect of the residential property...

Written Answers — Department of Finance: Banks Recapitalisation (19 Jun 2014)

Michael Noonan: The table referred to in PQ 18719/12 issued on April 18th 2012 showed a total investment by the State of €1.2bn in Bank of Ireland as a result of the 2011 PCAR exercise. This figure was shown coming from the NPRF and a note to the table indicated that the contribution from the exchequer was put at zero as the figure was calculated net of the proceeds from the share sale to private...

Written Answers — Department of Finance: Credit Unions Regulation (19 Jun 2014)

Michael Noonan: I have been informed by the Central Bank of Ireland that while the Central Bank does not comment on any specific institution, they have confirmed that they are engaged with the credit union in relation to certain irregularities and there is an on-going Garda investigation into these matters.  It has been brought to my attention that a number of anomalies were discovered in...

Written Answers — Department of Finance: Budget Consultation Process (19 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 47 and 49 together. My Department is always considering how to present Budgetary information more clearly. In recent times, we have, for example, published alternative presentations of Exchequer returns, provided presentations and infographics along with the Budgetary material, published monthly revenues and expenditures of all sectors of general government...

Written Answers — Department of Finance: Economic Policy (19 Jun 2014)

Michael Noonan: Up until recently, the forecasting period covered in the Budget and Stability Programme included the current year, and at least three future years, for example 2014 - 2017. Under the new European fiscal framework, Ireland is required to provide forecasts in the Budget and the Stability Programme for a period until the medium-term budgetary objective (also known as MTO) is achieved, which in...

Written Answers — Department of Finance: EU Fiscal Policy (19 Jun 2014)

Michael Noonan: Member States subject to a macroeconomic adjustment programme are exempt from submitting a Draft Budgetary Plan (DBP). Cyprus, Greece, Portugal and Ireland did not have to present a DBP, as the surveillance took place in the context of the programme. Therefore the assessment of the euro area was based on the 13 Member States that submitted DBPs. In the case of Austria, Germany...