Results 12,681-12,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Operations (18 Feb 2014)

Michael Noonan: NAMA is obliged by Section 10 of the NAMA Act to obtain the best achievable return. However, NAMA attaches a very high priority to the preservation of jobs in any businesses that have loans with the Agency.  As evidence of this, NAMA, through the deployment of working capital, is directly supporting 15,000 jobs in Ireland in trading businesses linked to its...

Written Answers — Department of Finance: NAMA Operations (18 Feb 2014)

Michael Noonan: The acquisition of loans from financial institutions is governed by the NAMA Act 2009 and EU Commission approval. NAMA deploys a complex and highly sophisticated set of operating procedures from the initial acquisition of loans through to the disposal of the loans or the disposal of the property and other assets securing the loans.  I am advised by NAMA that these procedures are outlined...

Written Answers — Department of Finance: Banking Sector Staff Issues (18 Feb 2014)

Michael Noonan: The Deputy may be aware that, following the review by the UK Treasury in Autumn 2013, RBS reaffirmed its commitment to the Irish market. RBS is currently reviewing the operations of Ulster Bank in Ireland with a view to creating a sustainable business model. My Department has engaged with the UK Treasury as part of the Treasury review and I also recently met with...

Written Answers — Department of Finance: Tax Credits (18 Feb 2014)

Michael Noonan: The new Single Person Child Carer Credit (SPCCC) is of the same value i.e. €1,650 per annum as the one-parent family tax credit and it also carries the same entitlement to the additional €4,000 extended standard rate band, which increases it to €36,800 per annum, before liability to the higher rate of income tax arises. However, the credit is more targeted, in that it is...

Written Answers — Department of Finance: Tax Credits (18 Feb 2014)

Michael Noonan: The new Single Person Child Carer Credit is of the same value as the one-parent family tax credit which it has replaced. However, the credit is more targeted in that it is, in the first instance, only available to the principal carer of the child. A system that allows multiple claims in respect of the same child or children is unsustainable. The change follows a recommendation from the...

Written Answers — Department of Finance: Security Checks (18 Feb 2014)

Michael Noonan: My Department is aware of the importance of maintaining security given the commercially sensitive meetings held in the Department and the sensitive information held by the Department.  In the interests of security, key offices and meeting rooms within my Department have been swept for monitoring devices from time to time.  No concerns have been raised on the basis of these sweeps.

Written Answers — Department of Finance: Departmental Bodies Establishment (18 Feb 2014)

Michael Noonan: The information requested by the Deputy is contained in the following table: Details of bodies established since 09th March 2011 Name  of  Body Date Established if after  09 march 2011 Allocated Budget 2013 € Role and functions Credit Union Restructuring Board (ReBo) 1 January 2013 €1.5 million of which €750,000 was drawn down The role of ReBo is to...

Written Answers — Department of Finance: Mortgage Arrears Proposals (18 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 196 and 236 together. The Central Bank has informed me that in 2013, it shared its internal guidelines ("the Guidelines") on Sustainable Mortgage Solutions with the banks.  These have also been published on the Central Bank's website, see ().   The Guidelines, which are subject to change, do not impose formal requirements on the banks. ...

Written Answers — Department of Finance: Tax Code (18 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 198 to 203, inclusive, together. I am advised by the Revenue Commissioners that the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Article 135(1)(i) of the EU VAT Directive (Council Directive 2006/112/EC) provides that Member States shall exempt betting, lotteries and other forms of...

Written Answers — Department of Finance: Betting Legislation (18 Feb 2014)

Michael Noonan: Section 32 of the Betting Act 1931 deals with the prohibition of advertising relating to betting on football games and provides that, other than in the case of the distribution of advertising by the registered proprietor of a registered premises in such premises, "it shall not be lawful for any person to write, print, publish or knowingly circulate any advertisement,...

Written Answers — Department of Finance: Budget Measures (18 Feb 2014)

Michael Noonan: In the first instance, decisions taken to increase the cost of health insurance premiums are made by health insurance providers and are beyond my control. However, it is the case that in Budget 2014 tax relief for medical insurance premiums was restricted to the first €1,000 per adult and the first €500 per child insured.  Any portion of premium paid in excess of these...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (18 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 206 to 208, inclusive, together. There is an obligation on the Special Liquidators to ensure that maximum value is extracted from the loan sales process for the benefit of all the creditors of IBRC including the State. The sales process plan and timeline for the sale of the residential mortgage portfolio has been developed following professional advice and...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (18 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 209, 210 and 237 together. I am advised by the Special Liquidators that the residential mortgage portfolio of IBRC has a par value of €1.8 billion. The sales process for the residential mortgage portfolio commenced in October 2013 and following receipt of indicative bids late last year, a reduced number of bidders were progressed to Phase 2 of...

Written Answers — Department of Finance: NAMA Operations (18 Feb 2014)

Michael Noonan: I am advised by NAMA that its enforcement in Northern Ireland is proportionate to the scale of its exposure to Northern Ireland debtors and in line with the approach adopted in other jurisdictions in which it operates.  NAMA advises that it has taken enforcement against 19 Northern Ireland debtor connections and against 280 debtor connections or part thereof in total.

Written Answers — Department of Finance: NAMA Operations (18 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 212 and 213 together. The detail sought by the Deputy is set out in tables. New Advances: Approved and Drawn  - Approved Drawn From Inception To May 2012 €1,302.2m €643.3m From Inception To December 2013 €2,426m €1,160m New Advances: Drawn by Jurisdictions  - To May 2012 To December 2013 Ireland 44% 45%...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (18 Feb 2014)

Michael Noonan: The Special Liquidators of IBRC have full control in relation to decisions concerning how the loans will be packaged for sale and what bidders constitute qualifying bidders for the purposes of the sales process. There is an obligation on the Special Liquidators to ensure that maximum value is extracted from the loan sales process for the benefit of all the creditors of...

Written Answers — Department of Finance: Insurance Levy (18 Feb 2014)

Michael Noonan: The Government is aware of the high cost that the recent flooding and storm damage has brought to householders and businesses. The Deputy will be aware that the Government has agreed to make up to €70 million available for a programme of repair and remediation works in addition to €25 million in humanitarian assistance under a new Department of Social Protection...

Written Answers — Department of Finance: Tax Rebates (18 Feb 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the person in question was resident in Ireland for tax purposes for the year 2011 and therefore she is subject to Income Tax on her worldwide income. As she was employed in Australia during the year 2011, it is necessary for her to forward a statement from the Australian Tax Authority giving details of her Australian income and any tax...

Written Answers — Department of Finance: Property Taxation Exemptions (18 Feb 2014)

Michael Noonan: Section 10A of the Finance (Local Property Tax) Act 2012 (as amended) provides for a temporary exemption of at least three consecutive years (generally the exemption period will be for between three and five years and is linked to the three year valuation period) from the charge to Local Property Tax (LPT) for residential properties that have been certified under Regulations made by the...

Written Answers — Department of Finance: Illicit Trade in Tobacco (18 Feb 2014)

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