Results 13,161-13,180 of 27,019 for speaker:Michael Noonan

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: Yes, and the Chairman ruled that I was not allowed to reply.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: I know the Deputy would like to put information on the record without my having an opportunity to reply to it.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: It is a quantum of money that is there to deal with the human resource issue. It is an issue that is foreseeable and is almost resolved to the point at which an estimate of costs can be put on it. However, because it is to do with personnel, it is confidential in nature. It is a once-off charge in 2014 and will not recur.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: We can provide details to the Deputy on a confidential basis.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: That allocation applies to the economic planning initiative. Under international postings there is a figure of €220,000, and the total comes out at €720,000.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: Following the publication of the medium-term economic strategy the Department of Finance will need to co-ordinate and implement actions and projects arising out of the plan. The provision is allocated across the two subdivisions that will lead the project. It represents the implementation costs of the economic strategy - that is, the cost of actually carrying out the work.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: It will be done by a mix of staff in the Department working with outside assistance, if such assistance is necessary. Provision is being made for the possibility of external assistance. The Deputy will appreciate that the amounts allocated are quite small. There is no point in bringing forward economic strategy documents if there is not the wherewithal to implement them. That is what is...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: We have moved over the three-year period to which the Chairman refers from sovereigns in the eurozone being de factoin charge of their own budgetary systems to a situation in which there is a fiscal union and the various requirements of the six-pack, two-pack, excessive deficit procedures and European semesters, all of which require compliance. That compliance requirement is met, in the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: Yes, I do. In the case of the excessive deficit procedure, to give a practical example, our commitment is to get under 3% by 2015. It is regarded across the eurozone that a deficit is in excess if it is over 3% of GDP. We are getting into the mainstream, therefore, once we get under 3%. If at any stage there was a drift above that - say, for example, as a consequence of budgetary...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: Shall I reply?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: The first opening statement was a series of questions, all of which deserve replies.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: The travel and subsistence expenditure relates to all the Department's travel costs undertaken by Ministers, Ministers of State and officers of the Department, and includes ministerial drivers, involvement in EU activities generally, including the ECOFIN Councils, travel to World Bank and other International Monetary Fund meetings and other miscellaneous travel costs. The Estimates for 2013...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: I am pleased to have the opportunity to appear before the select sub-committee today in connection with the 2014 Estimates for my Department and for the offices under the ambit of my Department, including the Revenue Commissioners, the Appeal Commissioners and the Comptroller and Auditor General. I record my thanks to all the officials at the Department who worked together to continue to...

Written Answers — Department of Finance: Property Taxation Administration (15 Jan 2014)

Michael Noonan: I am informed by the Revenue Commissioners that compliance data in relation to the Local Property Tax (LPT) for 2013 are available broken down by city and county councils nationally and the most up to date figures are published on the Commissioners website at: . As of 6 November 2013, a total of €6.6 m in LPT had been paid in County Kerry. The Commissioners will publish 2013...

Written Answers — Department of Finance: Money Laundering (15 Jan 2014)

Michael Noonan: The customer due diligence requirements are set out in the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (as amended by the Criminal Justice (Money Laundering and Terrorist Financing) Act 2013). Section 33 of the 2010 Act requires designated persons (such as banks) to apply customer due diligence measures prior to establishing a business relationship with a customer...

Written Answers — Department of Finance: Social Welfare Payments Administration (15 Jan 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that they were notified in November 2013 by the Department of Social Protection that the person concerned was awarded the additional payment. Following receipt of that advice a revised tax credit certificate issued so that income tax on that additional payment for November 2013 and December 2013 would be collected during that year. No other...

Written Answers — Department of Finance: IBRC Investigations (15 Jan 2014)

Michael Noonan: I am advised that the contractual terms and conditions of customer mortgages and other borrowings have not changed as a result of the appointment of the Special Liquidators nor will they change following the ultimate sale of the obligations to a third party. However as IBRC is in liquidation it is limited in terms of the supply of further credit to customers. The Special Liquidators have...

Written Answers — Department of Finance: Mortgage Interest Rates (15 Jan 2014)

Michael Noonan: I, as Minister for Finance, have no statutory role in relation to the mortgage interest rates charged by regulated financial institutions. It is a commercial matter for the banks concerned. The mortgage interest rates that financial institutions operating in Ireland charge to customers are determined as a result of a commercial decision by the institutions concerned. This interest rate is...

Written Answers — Department of Finance: Tax Code (15 Jan 2014)

Michael Noonan: I am assuming that the Deputy's question on whether the purchase of property for rent is a business relates to the renting of the property, rather than to its purchase. I am advised by the Revenue Commissioners that under existing legislation income tax is charged under Schedule D of the Taxes Consolidation Act (TCA) 1997 in respect of a number of sources of income, which are classified into...

Written Answers — Department of Finance: Tax Code (15 Jan 2014)

Michael Noonan: I am informed by Revenue that the starting point for determining the taxable profits of a business is the accounting profits of that business, calculated in accordance with Generally Accepted Accounting Practice (GAAP ). Under GAAP, stock must be valued at the lower of cost or net realisable value. Accordingly, stock which has been stolen will have a Nil valuation and as the cost of...