Results 13,221-13,240 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Revenue Commissioners Resources (15 Jan 2014)

Michael Noonan: I am informed by the Revenue Commissioners that Revenue currently has three mobile scanner systems. Two of these are mobile X-ray container scanning systems that are based at Dublin Port and Rosslare Ferry Port respectively. Both of these scanners are available for deployment at other ports, and at other locations such as warehouses, as required, and Revenue utilises them, on a risk...

Written Answers — Department of Finance: Mortgage Protection Policies (15 Jan 2014)

Michael Noonan: Section 126 of the Consumer Credit Act 1995 requires that, subject to certain exemptions set out in the Act, “a mortgage lender shall arrange a life assurance policy providing, in the event of the death of a borrower before a housing loan made by the mortgage lender has been repaid, for payment of a sum equal to the amount of the principal estimated by the mortgage lender to be...

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

Michael Noonan: I propose to take Questions Nos. 151 and 152 together. I am informed by the Revenue Commissioners that a compliance rate of 91% has been achieved for the Local Property Tax (LPT) for 2013. The Commissioners have also confirmed that by the end of December 2013 the amount of LPT collected for 2013 was €242m and €76m was collected in respect of 2014. In the region of 78% of...

Written Answers — Department of Finance: Universal Social Charge Application (15 Jan 2014)

Michael Noonan: The position is that the Universal Social Charge (USC) was introduced from 1 January 2011 to replace the Income Levy and the Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit. The Programme for Government contains a commitment not to change current income tax credits, rates and bands, nor to increase the...

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

Michael Noonan: As I have previously informed the House, most recently in my reply to Question No. 75 (51730/13) on 3 December 2013, the Local Property Tax (LPT) is a self-assessed tax so it is a matter for the property owner to calculate the tax due based on their assessment of the market value of the property. The Revenue Commissioners have confirmed to me that if a liable person has genuinely overpaid...

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

Michael Noonan: I am advised by the Revenue Commissioners that there are a variety of possible reasons why a tax clearance certificate might be refused in any given particular case. One possibility which the Deputy may have overlooked is that unpaid household charge is now a Local Property Tax liability. In the absence of specific details it is not possible to provide further advice. However, if the...

Written Answers — Department of Finance: Insurance Industry Issues (15 Jan 2014)

Michael Noonan: My Department does not hold estimates of funds under management in insurance companies with respect to the approved minimum retirement fund. I have contacted the Central Bank and they inform me that they also do not maintain estimates of funds under management in insurance companies with respect to the approved minimum retirement fund. I understand that Insurance Ireland are currently...

Written Answers — Department of Finance: Banks Recapitalisation (15 Jan 2014)

Michael Noonan: I propose to take Questions Nos. 157 and 158 together. The letter to which the Deputy refers was sent by the Taoiseach to the President of the European Council, Herman van Rompuy, and the Heads of State or Government in the other 27 EU Member states, for information, prior to the October 2013 European Council. The Taoiseach wrote his letter against the background of our planned exit from...

Written Answers — Department of Finance: EU-IMF Programme of Support (15 Jan 2014)

Michael Noonan: As I undertook broad consultation regarding all of the available exit options, including the option of a precautionary credit line, it is difficult to put a precise figure on the number of meetings I attended on this matter. My consultations included discussions with Christine Lagarde, Managing Director of the IMF; Olli Rehn, Vice-President of the European Commission; Jeroen Dijsselbloem,...

Written Answers — Department of Finance: EU Budget Contribution (15 Jan 2014)

Michael Noonan: The Department of Finance publishes information on EU Budget payments and public sector receiptsin the annual Budget & Economic Statistics (BES) bulletin. The data for 2011 and 2012 are reproduced in the following table. A provisional EU budget payment figure for 2013 and an estimate for 2014 are also included. EU receipts data for 2013 and 2014 are not yet available. The EU also...

Written Answers — Department of Finance: Irish Fiscal Advisory Council Resources (15 Jan 2014)

Michael Noonan: The Irish Fiscal Advisory Council was established on a non-statutory basis in July 2011 and established on a statutory basis on the 31 December 2012 under the Fiscal Responsibility Act 2012. The Fiscal Responsibility Act 2012 provides for a ceiling of €800,000 for the Fiscal Council in 2012. This sum is to be adjusted by the annual percentage change in the Harmonised Index of...

Written Answers — Department of Finance: Consultancy Contracts (15 Jan 2014)

Michael Noonan: My response is in relation to the Department of Finance only. No such costs have been incurred by my Department in relation to either of these issues to date and there are no budgets allocated for same during 2014 or 2015.

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

Michael Noonan: I am advised by the Revenue Commissioners that provisions covering the Travel Agents Margin Scheme are contained in Section 88 of the VAT Consolidation Act 2010. This scheme, which is provided for in Articles 306 to 310 of the EU VAT Directive, with which Irish VAT law must comply, was introduced with effect from 1 January 2010. Detailed discussions with the travel industry were carried out...

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

Michael Noonan: The Irish banks’ financial statements are prepared in accordance with International Accounting Standards and International Financial Reporting Standards as adopted by the European Union. The requirement for commercial banks to prepare financial statements is laid out in the Companies Acts, 1963 – 2013. The Central Bank of Ireland has informed me that it has no role in the...

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

Michael Noonan: As you are aware the One-Parent Family Tax Credit (OPFTC) has been replaced with a new Single Person Child Carer Tax Credit from 1 January 2014. The restructured credit is of the same value i.e. €1,650 per annum as the OPFTC and also carries the same entitlement to the additional €4,000 extended standard rate band, which increases it to €36,800 per annum, before...

Written Answers — Department of Finance: Legislative Reviews (15 Jan 2014)

Michael Noonan: Minister for Finance ( Mr Noonan): The Programme Documents (the Memorandum of Understanding on Specific Economic Policy Conditionality and the Memorandum of Economic and Financial Policies) agreed following the 10th Review of the EU-IMF Programme of Financial Support include a commitment to carry out an assessment of banks’ fee income by end-December 2013 as follows: The authorities...

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

Michael Noonan: I propose to take Questions Nos. 167 to 169, inclusive, together. 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 from other Government Departments, the Central Bank of Ireland, retail banks, An Post, the National...

Written Answers — Department of Finance: Consumer Protection (15 Jan 2014)

Michael Noonan: Regulation 18(2) of S.I. No. 281/2010 - European Communities (Consumer Credit Agreements) Regulations 2010 provides that “Where the goods or services covered by a linked credit agreement are not supplied, or are supplied only in part, or are not in conformity with the contract for their supply, the consumer has the right to pursue remedies against the creditor if the consumer has...

Seanad: Adjournment Matters: NAMA Operations (19 Dec 2013)

Michael Noonan: I thank Senator Higgins for her supplementary information and will be glad to receive the newspaper cutting to which she referred. It is helpful that she has put on record her action in making reports to the Garda Síochána regarding the situation she raised in the House earlier this year.

Seanad: Adjournment Matters: NAMA Operations (19 Dec 2013)

Michael Noonan: I will make an important preliminary point. This Adjournment matter refers to revelations. A number of allegations have been made and these are currently the subject of two Garda investigations. It cannot be said yet whether there will be revelations. I wish to assure the Senator that the NAMA board and I are taking these matters very seriously. The chairman, Frank Daly, has informed me...