Results 13,201-13,220 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Operations (15 Jan 2014)

Michael Noonan: I propose to take Questions Nos. 128 and 129 together. As the Deputy is aware, the Government has imposed SME lending targets on AIB and Bank of Ireland for the three calendar years, 2011 to 2013. Each bank was required to sanction lending of at least €3 billion in 2011, €3.5 billion last year and €4 billion in 2013 for new or increased credit facilities to SMEs. Both...

Written Answers — Department of Finance: NAMA Legal Fees (15 Jan 2014)

Michael Noonan: NAMA has instigated 117 sets of proceedings. Of that number, 60 are complete. NAMA was successful in all 60 of those cases. The remaining 57 of those cases are ongoing through the Courts. NAMA has had 31 actions taken against it. Of those, 16 are still active, and 15 are complete. Fourteen of those cases completed resulted in a favourable outcome for NAMA and NAMA was partially...

Written Answers — Department of Finance: NAMA Expenditure (15 Jan 2014)

Michael Noonan: NAMA does not maintain an internal press office. Instead, its internal communications resources are supported by an external service provider, Gordon MRM, (appointed following a public procurement process) in order to offer a full press office and communications service (including out-of-hours contacts for the media). This press office and communications service provides support across all...

Written Answers — Department of Finance: VAT Rate Application (15 Jan 2014)

Michael Noonan: I gave detailed responses to the Deputy's previous questions. The VAT Rates Database is an integral part of the information provided on the Revenue website. A key element to supporting voluntary compliance is the provision of up to date information. As the Deputy is aware, the Irish VAT system has a number of rates and it is absolutely critical that Revenue provides the VAT Rates Database...

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

Michael Noonan: I am informed by the Revenue Commissioners that the cost to the Exchequer of mortgage interest relief for principal private residences by way of tax relief at source (TRS) in the years 2010 to 2014 inclusive is as follows: Tax Year Cost €m 2010 375 2011 357 2012 411 2013* 353 2014 (estimated) 350 *This figure is provisional and subject to revision. The estimate of...

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

Michael Noonan: Section 12 of Finance Act 2012 introduced the Foreign Earnings Deduction (FED) which provides for a limited tax deduction for individuals who temporarily carry out the duties of their office or employment in Brazil, Russia, India, China or South Africa. The provision applies as respects the years 2012, 2013 and 2014. The Department of Agriculture sought the extension of FED for employment...

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

Michael Noonan: I am informed by the Revenue Commissioners that the total income tax and USC paid in each county for the year 2012 is €15,151 million and the breakdown on a county basis is set out in the table below. Figures are not compiled on a similar basis in respect of PRSI. It should be noted that Revenue Sheriffs, County Registrars or their officers operate for the purposes of enforcement of...

Written Answers — Department of Finance: Basic Payments Account (15 Jan 2014)

Michael Noonan: The Report on the Standard Bank Account pilot project was published on my Department’s website on 10 January 2014. The Financial Inclusion Working Group (FIWG), chaired by my Department, and including stakeholders ranging from other Government Departments, the Central Bank of Ireland, retail banks, An Post, the National Consumer Agency and voluntary sector organisations will work...

Written Answers — Department of Finance: Banking Sector Regulation (15 Jan 2014)

Michael Noonan: I am informed by the Central Bank that crypto-currencies such as Bitcoin are not services regulated by the Central Bank and are not legal tender in the Euro area. Consumers using Bitcoin should be aware that it is not covered by any Irish regulatory protections and does not fall under the Deposit Guarantee Scheme or the Investor Compensation Fund, so consumers would be liable for all...

Written Answers — Department of Finance: Flood Risk Insurance Cover (15 Jan 2014)

Michael Noonan: At the outset, it should be noted that the issue of flood cover and its unavailability is one which I am familiar with. I am also very conscious of the difficulties that the absence of such cover can causes to householders and businesses. However, I am not in a position to direct insurance companies to provide flood cover to specific individuals. The issue of provision of new flood cover...

Written Answers — Department of Finance: Credit Unions Regulation (15 Jan 2014)

Michael Noonan: Section 43 of the Credit Union Act 1997 sets out legislative requirements in relation to investment of surplus funds by a credit union. The First Schedule of the Trustee Act 1893 (as amended by the Trustee (Authorised Investments) Order 1998) sets out securities that trustees and, by virtue of section 43(1) of the Credit Union Act 1997, credit unions, are authorised to invest in. The...

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

Michael Noonan: I have been advised by the Revenue Commissioners that on 19 November 2013, an amended tax credit certificate was issued to reflect the State Contributory Pension which became payable to the taxpayer during 2013. The effect of this was to increase the amount of tax deducted from his occupational pension payments for the remainder of 2013. Following the end of the year, the taxpayer's...

Written Answers — Department of Finance: Property Taxation Collection (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 year-end...

Written Answers — Department of Finance: National Treasury Management Agency Bond Issues (15 Jan 2014)

Michael Noonan: On 7 January 2014 the National Treasury Management Agency (NTMA) sold €3.75 billion of a new benchmark Treasury Bond maturing in March 2024 via a syndicated sales process. The bond was sold at a yield of 3.543 per cent. Of the amount issued 17 per cent was taken up by domestic investors and 83 per cent by overseas investors. The overseas investors were mainly from the U.K. (26%),...

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

Michael Noonan: I am advised by the Revenue Commissioners that the number of identified companies that participated in the value shift scheme stands at 76. Assessments to tax have been entered in respect of the shareholders of the companies and the number of tax appeals is 112. In one of the cases the Appeal Commissioner decided in favour of the taxpayer and the decision was appealed by Revenue to the High...

Written Answers — Department of Finance: Public Sector Pensions Issues (15 Jan 2014)

Michael Noonan: There are various arrangements in operation throughout the Civil and Public Service which can provide in certain circumstances for added notional years of reckonable service when calculating superannuation benefits. In my Department, between March 2011 and December 2013 no individual has been awarded added years under the Professional Added Years Schemes or as a result of abolition of office...

Written Answers — Department of Finance: Appointments to State Boards (15 Jan 2014)

Michael Noonan: In response to the Deputy’s question the following table contains the information requested by the Deputy: Appointments and re-appointments since March 2011 Year Number of commercial and non-commercial State agency board positions filled Number of these positions that were publically advertised Number of female appointments. Mar-Dec 2011 5 0 1 2012 25 including 3 reappointments...

Written Answers — Department of Finance: National Internship Scheme Placements (15 Jan 2014)

Michael Noonan: My Department took in one JobBridge placement during 2013. Year No of Interns 2013 1

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

Michael Noonan: Income tax is charged on maternity benefit paid on or after 1 July 2013. This benefit continues to be exempt from PRSI and the Universal Social Charge. Refund of any income tax, PRSI and Universal Social Charge mistakenly charged in respect of maternity benefit payments must be claimed within four years from the end of the year of assessment in respect of which the payments were made. A...

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

Michael Noonan: The system of income tax relief for medical insurance premiums is provided at source at the standard rate of income tax. Therefore, the State was paying 20% of the cost of all private medical insurance premiums. In Budget 2014 the Minister announced that tax relief for medical insurance premiums will be restricted to the first €1,000 per adult and the first €500 per child...