Results 11,101-11,120 of 27,019 for speaker:Michael Noonan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Minister for Finance (18 Jun 2014)

Michael Noonan: I thank the Chairman and the committee members for inviting me again to speak to them today in advance of the ECOFIN Council of Ministers meeting on Friday, 20 June in Luxembourg. The ECOFIN Council usually meets on two occasions a year in Luxembourg – in June and October. As members know, we have agreed, subject to scheduling arrangements, that I will attend the committee on a...

Order of Business (18 Jun 2014)

Michael Noonan: They have not gone away.

Written Answers — Department of Finance: Tax Collection (18 Jun 2014)

Michael Noonan: I am informed by the Revenue Commissioners that as there is a high degree of customisation of recreational vehicles and camper vans, it is necessary, in most instances, to value each vehicle on an individual basis.  This entails the motor dealer submitting the relevant vehicle documentation to Revenue, via a National Car Testing Centre (NCTS), at the time of presentation for...

Written Answers — Department of Finance: VAT Rate Application (18 Jun 2014)

Michael Noonan: I am advised by the Revenue Commissioners that EU VAT Directive (Council Directive 2006/112/EC) generally provides that supplies of goods and services are chargeable to VAT at the standard rate but that lower rates are permitted in very limited circumstances.  Food products can only benefit from the zero rating in accordance with Article 110 of the VAT Directive which permits the...

Written Answers — Department of Finance: Universal Social Charge Yield (18 Jun 2014)

Michael Noonan: Section 531AAD of the Taxes Consolidation Act 1997 provides for a charge on bonus payments over €20,000 paid to employees of financial institutions that received financial support from the State under the Credit Institutions (Financial Support) Act 2008.  This charge, the excess bank remuneration charge , is incorporated into the Universal Social Charge and applies in all...

Written Answers — Department of Finance: Departmental Expenditure (18 Jun 2014)

Michael Noonan: There has been no cost to the Exchequer under the terms of settlements from my Department for the years 2009 to 2014.

Written Answers — Department of Finance: VAT Payments (18 Jun 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that VAT repayment claims from the  person concerned for each of the periods listed hereunder are withheld  pending receipt of information which has been requested from the taxpayer: - July/December 2011 €579, received on 12/6/2012 January/June 2012 €1,509, received on 25/7/2012 July/December 2013 €1,536,...

Written Answers — Department of Finance: Appointments to State Boards (18 Jun 2014)

Michael Noonan: In response to the Deputy's Question the following table contains the number of board appointments inclusive of re-appointments made to state boards under the aegis of my Department since March 2011 to date in 2014. National Asset Management Agency Year Number of appointments or re-appointments Comment 2011 0 2012 1 Expressions of interest were sought in 2012 for a panel of candidates...

Written Answers — Department of Finance: Banking Sector (18 Jun 2014)

Michael Noonan: I am aware that my Department has received one such representation in relation to a business that does business with Cuba. However, as you are aware, I have no direct function in the relationship between banks and their customers.  I have no statutory function in relation to banking decisions made by individual lending institutions at any particular time as these decisions are taken...

Written Answers — Department of Finance: Central Bank of Ireland (18 Jun 2014)

Michael Noonan: I have been informed by the Central Bank that EU Financial Sanctions are binding on all EU persons, accordingly Irish banks are obliged to comply with all EU Financial Sanctions.  The Central Bank of Ireland acts as a competent authority for EU Financial Sanctions.  There are currently no EU Financial Sanctions in place concerning Cuba.

Written Answers — Department of Finance: State Investments (18 Jun 2014)

Michael Noonan: In answer to a previous Parliamentary Question, I stated that I had given instructions that the proceeds from the sale of Bank of Ireland preference shares in December 2013 should remain with the National Pension Reserve Fund for the time being and that further consideration would be given as to how best to utilise the proceeds having regard to the NTMA's debt management plan and...

Written Answers — Department of Finance: National Pensions Reserve Fund Plans (18 Jun 2014)

Michael Noonan: The National Treasury Management Agency (Amendment) Bill 2014, published on 16 May 2014, proposes to  establish the Ireland Strategic Investment Fund (ISIF) which will absorb the assets of the National Pensions Reserve Fund (NPRF). Under the proposed legislation, where the Minster for Finance directs the National Treasury Management Agency to dispose of...

Written Answers — Department of Finance: Insurance Industry Regulation (18 Jun 2014)

Michael Noonan: MIBI is a non-profit-making organisation registered in Ireland.  All insurance companies underwriting motor insurance in this county must, by law, be members of MIBI and contribute to the funding of claims in proportion to their market share. The company was established by the insurance companies following an Agreement between the Government and those companies underwriting motor...

Written Answers — Department of Finance: Bank Codes of Conduct (18 Jun 2014)

Michael Noonan: All Codes of Conduct issued by the Central Bank, including the Consumer Protection Code (CPC) and the Code of Conduct on Mortgage Arrears (CCMA), are imposed on a statutory basis on regulated firms.  Consequently, any firm to whom any such Code applies must, as a matter of law, comply with the rules contained in those Codes.  The Central Bank informs me that it monitors compliance...

Written Answers — Department of Finance: Bank Debt Restructuring (18 Jun 2014)

Michael Noonan: In June 2013, the Central Bank set quarterly institution-specific performance targets for covered banks to move distressed SME borrowers onto longer-term forbearance solutions.  The targets set reflect the banks' capacity, processes and systems. Resolutions offered to SME customers in difficulty are assessed on the basis of the borrower s maximum affordability. The restructures are often...

Written Answers — Department of Finance: NAMA Loans Sale (18 Jun 2014)

Michael Noonan: My officials and I meet with a number of organisations from time to time to discuss matters of interest to my Department, including general investor interest in Irish investment opportunities.  My officials and I have met with Lone Star as well as other similar organisations to discuss their ongoing interest in investment opportunities in Ireland.  These...

Written Answers — Department of Finance: Tobacco Smuggling (18 Jun 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the number of convictions in respect of cigarette or tobacco smuggling, arising from detections made by Revenue officers at Dublin Airport, was 32 in 2013 and 24 in the period from 1 January to 31 May 2014.

Written Answers — Department of Finance: Property Taxation Rate (18 Jun 2014)

Michael Noonan: The Thornhill Group, the inter-departmental group chaired by Dr Don Thornhill established to consider the structures and modalities of a property tax, recommended that Local Property Tax (LPT) paid by the owner in respect of a rented property should be deductible for income tax or corporation tax purposes, in a similar manner to commercial rates. The group recognised the...

Written Answers — Department of Finance: Data Protection (18 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 47 and 48 together. Neither I nor the Central Bank have any role in relation to information held by the Irish Credit Bureau.  The Irish Credit Bureau is a privately run entity and is subject to the Data Protection legislation. On the issue more generally, the Office of the Data Protection Commissioner was established under the Data Protection Act...

Written Answers — Department of Finance: Corporation Tax Regime (17 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 137 and 138 together. It is important to be clear that the Directorate-General for Competition of the EU Commission is not investigating the Irish tax system or the 12.5% rate of corporation tax.  As myself, the Taoiseach and other members of the Government have repeatedly said, the 12.5% corporation tax rate is settled policy.  This position will...