Results 12,321-12,340 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Operations (11 Mar 2014)

Michael Noonan: As the Deputy may be aware my Department has previously advertised seeking expressions of interest from suitably qualified people for appointment to the NAMA board. In 2012, my officials sought expressions of interest for appointment to the NAMA Board. 24 expressions of interest were received in this process. However, it should be noted that under the Government arrangements Ministers are...

Written Answers — Department of Finance: Departmental Legal Costs (11 Mar 2014)

Michael Noonan: I propose to take Questions Nos. 71 and 72 together. The Office of the Chief State Solicitor represented the Minister for Finance in the proceedings Joan Collins V Minister for Finance, Ireland and the Attorney General. Consequently there were no external solicitor costs associated with these proceedings. Fees incurred by the State to date in these proceedings, which relate to counsels'...

Written Answers — Department of Finance: NAMA Operations (11 Mar 2014)

Michael Noonan: There are a number of factors taken into account when considering appointing members to the Board of NAMA. These include the recommendations of the Geoghegan Report as well as evidence of considerable experience of a high quality and high level of responsibility in one or more of the fields listed in Section 19(2) of the NAMA Act 2009, experience in a senior position (e.g. CEO or senior...

Written Answers — Department of Finance: Revenue Commissioners Resources (11 Mar 2014)

Michael Noonan: I am advised by Revenue Commissioners that the tax stamp contains a range of security features to prevent counterfeiting and these features are kept under review and ungraded as required. In 2009, the technical specification for tax stamps was significantly upgraded and the stamp was further enhanced in 2011.  The Revenue Commissioners advise me that the stamp has proven to be very...

Written Answers — Department of Finance: Banking Operations (11 Mar 2014)

Michael Noonan: The Relationship Frameworks provide safeguards as to the separate management of each of the State's shareholdings in Irish credit institutions  in order to ensure that those interests, and the management of those interests, do not lead to a prevention, restriction or distortion of competition in contravention of merger control or competition law.   In both...

Written Answers — Department of Finance: Mortgage Arrears Proposals (11 Mar 2014)

Michael Noonan: I propose to take Questions Nos. 77 and 102 together. The fair resolution of the mortgage arrears problem is key priority for Government.  The Government has developed a comprehensive strategy, in line with the main recommendations of the 2011 Keane Report, and has significantly advanced a number of key measures in this regard, including: 1. An intensification by the Central Bank of...

Written Answers — Department of Finance: IBRC Loans (11 Mar 2014)

Michael Noonan: I propose to take Questions Nos. 78 and 79 together. I have been advised by the Special Liquidators that the requested information is commercially sensitive and that they will not be commenting on individual customer-related transactions. The Special Liquidators have confirmed that there are 33 Borrower Groups, representing 0.2% of total Borrower Groups in Irish Bank Resolution Corporation...

Written Answers — Department of Finance: Tax Code (11 Mar 2014)

Michael Noonan: I propose to take Questions Nos. 80 and 81 together. I assume that the Deputy refers to an extension of the standard rate income tax band, which would apply similarly to single and widowed persons, as well as to single person child carers. The proposed extension to the standard rate band is assumed to also apply to married couples and civil partnerships. On this basis, I am informed by the...

Written Answers — Department of Finance: Disabled Drivers Grant Eligibility (11 Mar 2014)

Michael Noonan: Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No: 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (as amended) provide for permanent relief from the payment of specified maximum amounts of VAT and VRT for persons registered under the scheme. I am advised by the Revenue Commissioners that the person (details supplied)...

Written Answers — Department of Finance: Banking Sector Issues (11 Mar 2014)

Michael Noonan: In Autumn 2013, following a review of its operations by the UK Treasury, RBS reaffirmed its commitment to the Irish market. As part of that process, Treasury officials engaged with officials from my Department. In February 2014, I met with RBS executives to ascertain their outlook for the bank both here and in the UK. RBS is currently reviewing the operations of Ulster Bank in Ireland...

Written Answers — Department of Finance: Tax Rebates (11 Mar 2014)

Michael Noonan:  I have been advised by the Revenue Commissioners that a PAYE Balancing Statement (P21) for 2013 issued to the person concerned on 5 March 2014. This statement is based on the information currently available to Revenue. According to the PAYE Balancing Statement for 2013 an underpayment of income tax arises. Arrangements have been made to collect the amount due by reducing the tax...

Written Answers — Department of Finance: Tax Compliance (11 Mar 2014)

Michael Noonan: I have been advised by the Office of the Revenue Commissioners that this case (details supplied) is the subject of an on-going compliance intervention. As part of this intervention the issue of any liability arising under Section 441 Taxes Consolidation Act, 1997 (TCA) is being addressed. Final liability has not been computed and agreed.  However, I am advised that the Revenue...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (11 Mar 2014)

Michael Noonan: In relation to agreements or commitments given by these unregulated bodies in respect of their purchase of loan books, I understand that such agreements or commitments would not generally give rise to an obligation which is enforceable by the mortgagor. The terms of a contract can generally be enforced only by the parties to that contract. There are some circumstances in which such...

Written Answers — Department of Finance: Disabled Drivers Grant Eligibility (11 Mar 2014)

Michael Noonan: I am advised by the Revenue Commissioners that Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No: 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (as amended) provide for permanent relief from the payment of specified maximum amounts of VAT and VRT for persons registered under the scheme. The person (details supplied)...

Written Answers — Department of Finance: Tax Code (11 Mar 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the legislation governing the operation of Deposit Interest Retention Tax (DIRT) is set out in Chapters 4 and 5 of Part 8 of the Taxes Consolidation Act 1997 (the Act). Under Section 257 of the Act all deposit takers, including credit unions, are obliged to deduct Deposit Interest Retention Tax (DIRT) from payments of interest or dividends made...

Written Answers — Department of Finance: General Government Debt (11 Mar 2014)

Michael Noonan: The deficit target of 5.1% of GDP to which the Deputy refers is the maximum general government deficit in 2014 that the Government is required to deliver under the Excessive Deficit Procedure (EDP) in the Stability and Growth Pact. This is part of an agreed consolidation path which Ireland will follow in order to return the public finances to sustainability. I should point out that Budget...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (11 Mar 2014)

Michael Noonan: The Special Liquidators have confirmed that a voluntary agreement has been reached with the potential bidders for the IBRC mortgage book in relation to the application of the Code of Conduct on Mortgage Arrears. This is an important and timely development and will ensure that mortgage holders in arrears will be serviced in line with the CCMA and that customers will continue to be protected...

Written Answers — Department of Finance: Tobacco Smuggling (11 Mar 2014)

Michael Noonan: I am assured by the Revenue Commissioners that combating the illegal tobacco trade is a high priority for them. Their work against this illegal activity includes a range of measures that are designed to identify and target those who are involved in the supply or sale of illicit products, with a view to seizing the illicit products and prosecuting those responsible. This multifaceted...

Written Answers — Department of Finance: Departmental Legal Costs (11 Mar 2014)

Michael Noonan: The information requested by the Deputy is contained in the following table. Information relating to the National Treasury Management Agency (NTMA) is not included. I will forward it to the Deputy as soon as possible. Law Firm Legal Fees including VAT (2013) Department of Finance Arthur Cox €1,728,406.91* Matheson €717,923.46 *€986,323.05 recouped from banks...

Written Answers — Department of Finance: Tax Reliefs Cost (11 Mar 2014)

Michael Noonan: Section 291A of the Taxes Consolidation Act 1997 was introduced in Finance Act 2009 and enables companies to claim capital allowances for expenditure incurred on the provision of intangible assets (e.g. patents, copyright, trademarks, know-how) for the purposes of a trade. Allowances are based on the amount charged to the profit and loss account in respect of the amortisation or...