Results 11,181-11,200 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Budget Measures (12 Jun 2014)

Michael Noonan: The fiscal forecast for 2015 contained in April's SPU is predicated on a consolidation package of €2.0bn which has been well flagged over recent years and is estimated to deliver a general government deficit of 2.9% of GDP.  The no-policy change scenario sought by the Deputy will, as is the norm, be published in advance of Budget 2015. In terms of economic growth underpinning...

Written Answers — Department of Finance: Universal Social Charge Application (12 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 52 to 54, inclusive, together. In relation to the introduction of a new 48% Income Tax rate on all income over €100,000, it is assumed that the new threshold would not alter the existing standard rate band structure applying to single and widowed persons, to single person child carers and married couples. On that basis, I am advised by the...

Written Answers — Department of Finance: Mortgage Arrears Rate (12 Jun 2014)

Michael Noonan: I am advised by the Central Bank of Ireland that if a mortgage in arrears has its full arrears balance capitalised (such that the arrears balance goes to zero) then this mortgage is no longer classified as in arrears in the Central Bank s Residential Mortgage Arrears and Repossessions Statistics . The mortgage will be counted in the restructured accounts category.

Written Answers — Department of Finance: Excise Duties (12 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 57 and 59 together. I am informed by the Revenue Commissioners that the potential yield from the Duty increases suggested by the Deputy, in a full year including VAT, are as set out in the following table. However, I am further advised by the Commissioners that these estimates are based on the assumption of no change in behaviour by smokers following increase...

Written Answers — Department of Finance: Excise Duties (12 Jun 2014)

Michael Noonan: The current rate of excise or tobacco products tax on cigarettes is €241.83 per 1,000 cigarettes, together with an amount equal to 8.72% of the retail price, or €275.62 per 1,000 cigarettes, whichever is the greater.  The rate of tobacco products tax on fine cut tobacco used for hand-rolled cigarettes is €252.222 per kilogram.  I am advised by the Revenue...

Written Answers — Department of Finance: IBRC Liquidation (12 Jun 2014)

Michael Noonan: I have been advised by the Special Liquidators that all creditors detailed in the books and records of Irish Bank Resolution Corporation (in Special liquidation) as at 7 February 2013 were written to shortly after the appointment of the Special Liquidators and asked to submit their claims. Those creditors determined to be unsecured were notified of same. All unsecured creditor claims have...

Written Answers — Department of Finance: IBRC Liquidation (12 Jun 2014)

Michael Noonan: I have been advised by the Special Liquidators that the total value of deposits not covered by the DGS or ELG schemes is €20,765,407. These deposits are unsecured creditors of the company and the Special Liquidators have confirmed that their details are being retained on file.  The extent of any potential distribution to them will depend on whether there will be distributable...

Written Answers — Department of Finance: IBRC Liquidation (12 Jun 2014)

Michael Noonan: All decisions pertaining to the Special Liquidation of Irish Bank Resolution Corporation have been made by the Special Liquidators taking into account the Ministerial Instructions issued to them. On 7 February 2013 I issued instructions to the Special Liquidators (on foot of the Special Liquidation Order) which set out details in respect of the manner in which the winding...

Written Answers — Department of Finance: VAT Rate Increases (12 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: Property Taxation Data (12 Jun 2014)

Michael Noonan: In accordance with section 20 of the Finance (Local Property Tax) Act 2012 (as amended) elected members of a local authority are required to pass a formal resolution in order to vary the basic rate of Local Property Tax (LPT) in respect of residential properties situated within their functional area. The basic LPT rate can be increased or decreased by up to 15%. This is referred to as the...

Written Answers — Department of Finance: Tax Avoidance Issues (12 Jun 2014)

Michael Noonan: I am advised by the Revenue Commissioners that they have cooperated fully with the European Commission enquiries, as required under EU law, providing comprehensive information to the Commission on administrative practice in relation to advance opinions, the types of issues on which opinions are provided, and details of specific opinions given. The details provided to the Commission by Revenue...

Written Answers — Department of Finance: NAMA Property Sales (12 Jun 2014)

Michael Noonan: I refer the Deputy to the NAMA Chief Executive's evidence before the Dáil Committee of Public Accounts (PAC) on the 29thof May during which it was confirmed that all NAMA-related property disposals subject to review by the Comptroller and Auditor General (C&AG) were fully openly marketed. As the Deputy is aware, the C&AG, as part of its recent review of NAMA, examined a...

Written Answers — Department of Finance: Property Taxation Collection (12 Jun 2014)

Michael Noonan: I am advised by Revenue that it has collected over €291m to date in 2014 in respect of Local Property Tax (LPT) and Household Charge (HHC). This figure is approximately 8% ahead of target up to 31 May 2014. In regard to HHC, Revenue has collected over €20m in respect of more than 122,000 properties since it assumed responsibility for securing the outstanding liabilities....

Written Answers — Department of Finance: Mortgage Data (12 Jun 2014)

Michael Noonan: I have been provided with the following information by AIB and permanent tsb. AIB All relevant data in relation to AIB s mortgage portfolios, including arrears data, for December 2013 are made on pages 71 to 119 of AIB s 2013 Annual Financial Report, published on 5 March 2014. Permanent TSB PTSB for the year to end May 2014 has charged off/written off circa €55m of...

Written Answers — Department of Finance: Interest Rates (12 Jun 2014)

Michael Noonan: Firstly, I must confirm to the Deputy that the lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. I have no statutory role in relation to regulated financial institutions passing on the European Central Bank interest rate cut to small and medium enterprise (SME s) loan customers or in relation to the...

Written Answers — Department of Finance: NAMA Debtors (12 Jun 2014)

Michael Noonan: I am advised by NAMA that it is currently pursuing three cases relating to the transfer of assets by debtors.  In three further cases relating to NAMA debtors, cases are being pursued by trustees in bankruptcy.  NAMA is not a direct party to these cases but will benefit proportionally as a creditor vis a vis other creditors.  In addition, NAMA is engaged in a number of on-going...

Written Answers — Department of Finance: Mortgage Repayments Issues (12 Jun 2014)

Michael Noonan: As specified in the relationship framework agreement between my Department and Bank of Ireland, it is the Board of the Bank who make decisions regarding day to day operational issues of the Bank.  I have no role in the day-to-day commercial and operational decisions of the bank, which include this matter. Such decisions are taken by the board and management of the institution. I am...

Written Answers — Department of Finance: Departmental Staff Data (12 Jun 2014)

Michael Noonan: In my Department and agencies under its remit details of staff vacancies above Principal Officer Grade are outlined below Department of Finance Grade Function area position belongs Length Vacant Salary Level Principal Fiscal Division 26/03/2014 Principal *Principal Officers recruited by the Department of Finance adhere to the salary scales set out by the Deparment of Public...

Written Answers — Department of Finance: VAT Rate Application (12 Jun 2014)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under the VAT Directive Member States may only apply the reduced VAT rate to those goods and services which are listed under Annex III of the VAT Directive.  Annex III does not provide for a reduced rate of VAT to be applied to furniture.  As such, the only rate...

Written Answers — Department of Finance: Central Bank of Ireland (12 Jun 2014)

Michael Noonan: In April, the Central Bank of Ireland advised my Department that the total expected surplus available to be remitted to the Exchequer in 2015 is €725m.  This surplus arises from the normal activities of the Central Bank and the estimate may be revised in the run up to the forthcoming Budget in light of more up to date information and data.