Results 13,241-13,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Insurance Costs (19 Dec 2013)

Michael Noonan: At the outset, I would point out that the calculation of annual premium rates is a commercial decision for the insurance company in question. Neither I, as Minister for Finance, nor the Central Bank of Ireland, can require a company to change its rates or prohibit a company from doing so. The decision to provide any specific form of insurance cover and the price at which it is offered is...

Written Answers — Department of Finance: NAMA Staff Remuneration (19 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 78 and 79 together. All NAMA staff are employees of the NTMA and under section 42 of the National Asset Management Agency Act 2009, the NTMA assigns staff to NAMA. Staff numbers assigned to NAMA are as follows: End 2010 100 End 2011 193 End 2012 224 End November 2013 315 Information on NTMA salary bands is published in the NTMA Annual Report and...

Written Answers — Department of Finance: NAMA Expenditure (19 Dec 2013)

Michael Noonan: Fees paid by NAMA since its inception in 2009 to 30 June 2013 to consultants and advisers are set out in a table. Expenditure includes significant once off costs incurred in connection with the establishment of NAMA, due diligence connected with the acquisition of loans from the Participating Institutions and the initial review of debtor business plans. - - H1 2013 2012 2011 2010 - -...

Written Answers — Department of Finance: IBRC Loans (19 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 81 and 95 together. The Special Liquidators are continuing the orderly and efficient wind-down of IBRC in accordance with the provisions of the IBRC Act 2013 and instructions that have been provided to the Special Liquidators by me under the IBRC Act 2013. I am advised that the Special Liquidators will comply with the timelines, namely that the valuation...

Written Answers — Department of Finance: Property Taxation Administration (19 Dec 2013)

Michael Noonan: I am advised by Revenue that it recently wrote to certain tranches of property owners in regard to their 2014 Local Property Tax (LPT) obligations. The persons contacted were property owners who filed their 2013 Local Property Tax (LPT) Returns and paid their liabilities by lump sum or by way of regular cash payments. Revenue did not write to certain categories of property owners including...

Written Answers — Department of Finance: Tax Yield (19 Dec 2013)

Michael Noonan: I am informed by the Revenue Commissioners that, based on the numbers of taxpayers paying the Domicile Levy since its introduction, the full year yield on a straightforward arithmetic basis from an increase in the Domicile Levy from €200,000 to €350,000 could be in the region of €2.3 million. Various factors, including fluctuations in asset values and income, could...

Written Answers — Department of Finance: Property Taxation Administration (19 Dec 2013)

Michael Noonan: I am advised by Revenue that receipts are available in all circumstances where a person pays Local Property Tax (LPT) via its online service. However, since July 2011 paper receipts are no longer issued in respect of tax payments. This decision was taken on the basis that the vast majority of taxpayers conduct business with Revenue via its online service. The online service facilitates...

Written Answers — Department of Finance: Banking Sector Issues (19 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 85 to 88, inclusive, together. As I stated in response to questions 52473/13 and 52474/13 I have seen the results of the Balance Sheet Assessment ("BSA") as they were a commitment under our Funding Programme and, as with all other such commitments, my Department communicated them to the Troika by the appointed deadline. The results are very technical in...

Written Answers — Department of Finance: State Banking Sector (19 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 89 and 90 together. In early January, the State was successful in disposing of its entire €1 billion holding of Contingent Capital Notes (CCN’s) in Bank of Ireland. The State’s investment in these instruments dated back to the 2011 PCAR exercise, but unlike the rest of the State’s investment in the bank, they were not part of the...

Written Answers — Department of Finance: National Pensions Reserve Fund Investments (19 Dec 2013)

Michael Noonan: I propose to answer Questions Nos. 91 and 92 together. The Preference Shares, which date back to early 2009, formed part of the €4.7 billion total investment made by the State in Bank of Ireland. The shares were a directed investment held by the National Pension Reserve Fund. I can confirm to the Deputy that I have given instructions that the proceeds arising from the Bank of...

Written Answers — Department of Finance: Property Taxation Application (19 Dec 2013)

Michael Noonan: I am advised by the Revenue Commissioners that, in the case raised by the Deputy, the 2013 LPT Return was issued to an address previously used by Revenue to contact the person in question in respect of other taxes. The person in question subsequently received the paper Return but duplicated the filing process by firstly filing online, paying the ‘Valuation Band 3’ estimated...

Written Answers — Department of Finance: Credit Unions (19 Dec 2013)

Michael Noonan: I have been advised by the Central Bank that there is no Central Bank list of preferred providers of accountancy services for credit unions, nor is it aware of the practice described in the Question. I have been further informed by the Central Bank that, where it identifies issues which require action, it may require the credit union to appoint an independent third party firm to carry out...

Written Answers — Department of Finance: Mortgage Arrears Rate (19 Dec 2013)

Michael Noonan: The Government is very aware of the significant difficulties some homeowners are facing in meeting their mortgage obligations and it is committed to advancing appropriate measures to assist those mortgage holders who are experiencing real and genuine difficulty The Deputy will be aware that the Central Bank recently published mortgage arrears and restructure statistics for the quarter...

Written Answers — Department of Finance: EU Issues (19 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 97 and 99 together. Last week the Presidency of the EU Council reached agreement with the European Parliament on the Bank Recovery and Resolution Directive (BRRD). The BRRD proposal provides a common framework of rules and powers to help EU countries manage arrangements to deal with failing banks at national level as well as cross-border banks, whilst...

Written Answers — Department of Finance: Tax Code (19 Dec 2013)

Michael Noonan: This Government is very much aware that from an international perspective, Ireland is already considered to have a high top marginal rate of tax on income. When compared with other OECD members with a similar marginal tax rate, the Irish marginal tax rate for PAYE income takes effect when the standard rate band is exceed which is €32,800 for a single individual. Marginal tax rates...

Written Answers — Department of Finance: Tax Reliefs Cost (19 Dec 2013)

Michael Noonan: I am advised by the Revenue Commissioners that claims for tax refunds and tax relief’s can be made in respect of the previous four tax years. Currently, taxpayers can make claims for tax years 2009 onwards although all claims for 2009 must be received by Revenue by 31 December 2013. It is not possible to quantify tax credits or tax reliefs that are unclaimed because, by their...

Written Answers — Department of Finance: Tax Code (19 Dec 2013)

Michael Noonan: There are no specific measures in the area of corporation tax targeted at this particular sector. The full range of corporation tax reliefs are however open to all corporate tax payers regardless of the sector they operate in. The Deputy may also be aware that car repair garages are supported under the VAT code by the application of the reduced VAT rate of 13.5% to the supply of car...

Written Answers — Department of Finance: Freedom of Information Requests (19 Dec 2013)

Michael Noonan: My Department received 216 FOI requests up to 17 December, 2013 and 265 FOI requests in 2012. Search and retrieval fees are not sought in respect of every FOI request and where applied, are requested only in respect of non-personal information. The processing of FOI in the department is decentralised to individual officers and the decision to seek a search and retrieval fee is a matter for...

Written Answers — Department of Finance: IBRC Legal Cases (19 Dec 2013)

Michael Noonan: I am advised that due to commercial confidentiality and sensitivities the Special Liquidators are unable to provide the information requested. All relevant disclosures in respect of legal cases involving IBRC are publically available through the Courts Services website. I have been advised by the Special Liquidators that there were 120 cases being taken against IBRC at the date of...

Written Answers — Department of Finance: Banking Operations (19 Dec 2013)

Michael Noonan: I assume that the Deputy is referring to recent media reports on allegations of overcharging of Ulster Bank business customers in Ireland. I understand that RBS, the parent of Ulster Bank, has appointed Clifford Chance to independently review the treatment of distressed customers by the Global Restructuring Group and report early in the New Year. I also understand that the findings will be...