Results 12,581-12,600 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: VAT Rate Reductions (20 Feb 2014)

Michael Noonan: VAT is charged on the supply of goods and services, and the rate applying is subject to the requirements of EU VAT law with which Irish VAT law must comply.  While the majority of tourist related services apply at 9% it is not possible to extend this treatment to all tourist activity, such as tour guide services, and the short-term hire of cars, boat, caravans and mobile homes, which...

Written Answers — Department of Finance: Tax Code (20 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 26 and 30 together. The issue of effective tax rates has been the subject of a number of Parliamentary Questions and discussions at the Joint Committee on Finance and Public Expenditure and Reform over the past 12 months. I think it's important to note at the outset that two separate issues are often confused in discussions on the effective rate of...

Written Answers — Department of Finance: Flood Risk Insurance Cover (20 Feb 2014)

Michael Noonan: The issue of flood cover and its unavailability in some instances is one with which I am very familiar. I am also very conscious of the difficulties that the absence of such cover can cause to householders and businesses. While the lack of availability of flood insurance affects a relatively small number of people, the consequences for these people are serious should their house or commercial...

Written Answers — Department of Finance: NAMA Portfolio (20 Feb 2014)

Michael Noonan: According to the consumer price index, private rents rose nationally by 6.0 per cent in 2013, following on from an increase of 2.5 per cent in 2012. However, this follows a fall of over 25 per cent between 2008 and late 2010. It is important to note that, on this basis, private rents are now at approximately the same level as they were in January 2003. The PRTB rental index, which provides...

Written Answers — Department of Finance: Bank Debt Restructuring (20 Feb 2014)

Michael Noonan: As I have outlined in my replies to a number of previous Parliamentary Questions, the Euro-area Heads of State or Government (HoSG) agreed in June 2012 that "it is imperative to break the vicious circle between banks and sovereigns", and that when a Single Supervisory Mechanism, involving the ECB, is in place and operational, the European Stability Mechanism could recapitalise banks directly....

Written Answers — Department of Finance: Banking Sector Issues (20 Feb 2014)

Michael Noonan: I accept that the level of competition in the Irish banking sector has reduced as a result of the recent decisions by ACC and Danske Bank to withdraw, following the withdrawal of Bank of Scotland (Ireland) some time ago. Over time, I expect that the restructuring of the banking sector and the recovery of the economy will present opportunities for the entry of new market participants...

Written Answers — Department of Finance: IBRC Loans (20 Feb 2014)

Michael Noonan: Where NAMA approves the sale of any loan or approves the sale of any secured property by a debtor, it requires a confirmation that the purchaser is not connected to the debtor or other obligers.    As part of this process, NAMA requires that the selling agent prepares a final report and recommendation for each sale, which includes, inter alia, confirmation that the agent has...

Written Answers — Department of Finance: EU-IMF Programme of Support (20 Feb 2014)

Michael Noonan: The position in regard to the release of this letter remains largely as I outlined in my replies to Parliamentary Questions 155 of 28th June 2011, 125 of 18th July 2013, 37 of 3rd October 2013 and most recently 18 of 16th January 2014. While the immediate crisis that this Government inherited when it took office has been averted, it remains important for relationships between institutions...

Written Answers — Department of Finance: Property Taxation Collection (20 Feb 2014)

Michael Noonan: The Deputy asks for my views on a case, but the details were not supplied.  I am informed that my Department made contact with the Deputy s office to establish the specifics of the case so that it could be examined and a detailed reply prepared but that the Deputy s office declined to give any further information. In the circumstances I am not in a position to comment further. By way...

Written Answers — Department of Finance: Tax Reliefs Availability (20 Feb 2014)

Michael Noonan: While there are no existing "direct" tax incentive schemes specifically relating to expenditure by property owners on flood prevention works, there are a number of provisions in the Tax Acts which might, depending on the owner's circumstances and the nature of the work on which the expenditure is incurred, provide a measure of relief in respect of such expenditure. For instance, for rented...

Written Answers — Department of Finance: NAMA Portfolio (20 Feb 2014)

Michael Noonan: As the Deputy may be aware, Section 10 of the NAMA Act statutorily obliges NAMA to obtain the best achievable return for the State from the management or its acquired loan portfolio.  NAMA is obliged to carry out its functions in the context of the overriding commercial objective provided for by Section 10 of the Act and to recover the greatest amount possible for the taxpayer from the...

Written Answers — Department of Finance: Mortgage Data (20 Feb 2014)

Michael Noonan: I understand that a number of  entities, which are not regulated by the Central Bank and which have purchased mortgage loan books from regulated entities, are abiding, by the Central Bank's Code of Conduct on Mortgage Arrears on a voluntary basis. The regulation by the Central Bank of such purchasers is legally complex as it could affect contracts already...

Written Answers — Department of Finance: Revenue Commissioners Investigations (20 Feb 2014)

Michael Noonan: The Revenue Commissioners are charged with responsibility for collection and recovery of a wide range of taxes and duties. I know that Revenue has a strong focus on making sure that everyone complies with their tax and duty responsibilities by paying the right amount and on time. Revenue expects businesses to continue, notwithstanding the difficult economic circumstances in which they are now...

Written Answers — Department of Finance: Bank Debt Restructuring (20 Feb 2014)

Michael Noonan: A way forward for Permanent TSB was agreed with the Troika in April 2012 which envisaged it playing an important role in the future of Irish retail banking, being a more focused retail bank bringing an element of competition to the marketplace which has consolidated significantly since 2008.  In this regard Permanent TSB prepared a Restructuring Plan, which the Department of Finance...

Written Answers — Department of Finance: Fuel Rebate Scheme (20 Feb 2014)

Michael Noonan: I introduced this scheme in the Finance Act 2013 in order to provide for a repayment to qualifying road haulage and bus operators of a part of the mineral oil tax paid on their purchases of auto-diesel for use in the course of business.  The scheme is intended to support the competitive position of compliant transport operators using legitimate fuel while dealing effectively with the...

Written Answers — Department of Finance: Flood Risk Insurance Cover (20 Feb 2014)

Michael Noonan: The provision of new flood cover or the renewal of existing flood cover is a commercial matter for insurance companies, which is based on a proper assessment of the risks they are accepting and the making of adequate provisioning to meet these risks. Flood cover claims are generally significant and in order to provide such cover, insurance companies would say that they have to be...

Written Answers — Department of Finance: Flood Risk Insurance Cover (20 Feb 2014)

Michael Noonan: The issue of flood cover and its unavailability in some instances is one with which I am familiar. I am also very conscious of the difficulties that the absence of such cover can cause to householders and businesses. While the lack of availability of flood insurance affects a relatively small number of people, the consequences for these people are serious should their...

Written Answers — Department of Finance: Corporation Tax Regime (20 Feb 2014)

Michael Noonan: The issue of effective tax rates has been the subject of a number of Parliamentary Questions and discussions at the Joint Committee on Finance and Public Expenditure and Reform over the past 12 months. I think it's important to note at the outset that two separate issues are often confused in discussions on the effective rate of corporation tax. The first issue is the global rate of tax...

Written Answers — Department of Finance: Fuel Laundering (20 Feb 2014)

Michael Noonan: I am informed by the Revenue Commissioners that Revenue and HM Revenue & Customs (HMRC) signed a Memorandum of Understanding in May 2012 on a joint approach to finding a more effective marker for use in both jurisdictions. On foot of this Memorandum, a joint Invitation to Make Submissions was published in June 2012, following which a number of proposals for a new marker were received....

Written Answers — Department of Finance: IBRC Mortgage Loan Book (20 Feb 2014)

Michael Noonan: I am fully aware of the concerns raised by the IBRC mortgage holders regarding continued protection for those customers following the sale of the loan book by the Special Liquidators. The continued applicability of the Code of Conduct on Mortgage Arrears (CCMA) depends on the regulatory status of the ultimate acquirer of the IBRC portfolio which will...