Results 13,381-13,400 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Departmental Funding (12 Dec 2013)

Michael Noonan: No funding has been received by the East Clare Community Co-Op Society Ltd from my Department in 2010, 2011, 2012 and 2013.

Written Answers — Department of Finance: Tax Code (12 Dec 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the relevant taxes referred to by the Deputy are Customs Duties and VAT at Import. It is not open to Revenue to vary the rate of tax/duty involved. Additionally, while certain reliefs and exemptions apply in respect of both of these taxes/duties, none apply in the scenario outlined by the Deputy.

Written Answers — Department of Finance: Property Taxation Collection (12 Dec 2013)

Michael Noonan: I am informed by Revenue that a key aspect of the work undertaken in regard to Local Property Tax (LPT) was the development of a comprehensive register of residential properties in the State. During the building of the Property Register some matching difficulties were encountered when consolidating the various Government and non-Government data sources used, and in a small number of cases the...

Written Answers — Department of Finance: EU-IMF Programme of Support (12 Dec 2013)

Michael Noonan: At the outset it should be noted that the exit from the EU-IMF Programme of Assistance without a precautionary credit line will have no bearing on whether a bank is likely to be bailed in or not in the future. The rules relating to bail-in are set out in the proposed EU Directive on Bank Recovery and Resolution (BRRD), which is currently at an advanced stage of negotiation with the European...

Written Answers — Department of Finance: Tax Reliefs Application (12 Dec 2013)

Michael Noonan: The position is as I stated in my Budget day speech, that from 16 October 2013, tax relief for medical insurance premiums has been restricted to the first €1,000 per adult and the first €500 per child insured. Any portion of premium paid in excess of these ceilings will no longer qualify for tax relief. The current system of income tax relief for medical insurance premiums is...

Written Answers — Department of Finance: Revenue Commissioners Powers (12 Dec 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the question of whether an employee has a work permit is not relevant to the operation of the tax system and that Revenue does not advise employers to cease employing employees on the basis of their residency or work permit status. If the Deputy has information to the contrary he should forward the details to Revenue.

Written Answers — Department of Finance: Pensions Levy Issues (12 Dec 2013)

Michael Noonan: I announced in my Budget 2014 speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 will be abolished from the 31st of December 2014. I will however, introduce an additional levy on pension funds at 0.15% to, among other things, continue to help fund the Jobs Initiative. The additional levy, within the existing legal framework, will apply to pension fund assets...

Written Answers — Department of Finance: National Pensions Reserve Fund Investments (12 Dec 2013)

Michael Noonan: I can confirm to the Deputy that I have given instructions that the proceeds arising from the Bank of Ireland preference shares transaction should remain with the National Pensions Reserve Fund for the time being. No decision has yet been made whether the proceeds will form part of the resources of the new Ireland Strategic Investment Fund. Further consideration will be given as to how best...

Written Answers — Department of Finance: Fuel Prices (12 Dec 2013)

Michael Noonan: As Minister for Finance I have no jurisdiction or control over market pricing of fuel. I have responsibility only for the tax element of fuels.

Written Answers — Department of Finance: Mortgage Repayments Issues (12 Dec 2013)

Michael Noonan: The Deputy will be aware that the Code of Conduct on Mortgage Arrears (CCMA) sets out requirements for mortgage lenders dealing with borrowers facing or in mortgage arrears. The CCMA provides a strong consumer protection framework to ensure that borrowers struggling to keep up mortgage repayments are treated in a fair and transparent manner by their lender, and that long term resolution is...

Written Answers — Department of Finance: Credit Unions (12 Dec 2013)

Michael Noonan: All assets and liabilities, excluding the premises, of Newbridge Credit Union Ltd were transferred to permanent tsb on 10 November 2013, under the Central Bank and Credit Institutions (Resolution) Act 2011. I agreed to the Governor’s request for a financial incentive of up to €53.9m to be paid from the Credit Institutions Resolution Fund to support the transfer. Under section...

Written Answers — Department of Finance: Tax Code (12 Dec 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that a Tax Credit Certificate incorporating amended tax credits and USC details issued to the person and the person’s employer on 27 November 2013. Based on details currently available the correct tax credits have been granted and on this basis the correct PAYE, PRSI and USC should be deducted by the person's employer. If the person...

Written Answers — Department of Finance: Tax Code (12 Dec 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that they have written to the person concerned on 11 July 2013 and on 16 October 2013, for the relevant details so that the correct tax credits could be assigned to the person concerned. A further request for this information issued on 10 December. While awaiting a reply the single persons tax credit and PAYE tax credit have been allotted to...

Written Answers — Department of Finance: State Savings Schemes (12 Dec 2013)

Michael Noonan: State Savings is the brand name used by the National Treasury Management Agency (NTMA) to describe the State's personal savings products issued by the Minister for Finance acting through the NTMA. An Post is the NTMA's selling agent for these investments. All State Savings money is part of the sovereign debt of Ireland which is managed by the National Treasury Management Agency (NTMA). ...

Written Answers — Department of Finance: Residential Property Market (12 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 54 and 55 together. Poor regulatory oversight of the activities of the banking sector has been identified as a key contributing factor to the difficulties faced by the country in the last number of years including the necessity for the external assistance programme which will conclude shortly. The Deputy has identified specific concerns in relation to the...

Written Answers — Department of Finance: Bank Debt Restructuring (12 Dec 2013)

Michael Noonan: The Government has worked hard to reduce the burden of the banking-related debt. In February 2013 the arrangements that replaced the promissory note resulted in significant benefits to the State including spreading the cost of the Promissory Notes from a weighted average life of c.7-8 years to c.34-35 years at a lower funding cost for the State, resulting in significant annual interest...

Written Answers — Department of Finance: Pension Provisions (12 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 57 and 58 together. As Questions 57 and 58 both relate to the changes to the Standard Fund Threshold (SFT) regime introduced in Finance (No.2) Bill 2013, I propose to reply to them together. At the outset, I want to reject the suggestion in these questions that changes being made in the Finance Bill will favour, and indeed are designed to favour, higher...

Written Answers — Department of Finance: Mortgage Schemes (12 Dec 2013)

Michael Noonan: As the Deputy may be aware, there are signs of rising demand for rental properties through increased rents, in some urban centres. Increased lending in the buy to let sector where the business case is evident can address a particular problem and help stabilise rents. The Central Bank, as part of its regulatory function will have a key role in monitoring the activities and attendant risks in...

Written Answers — Department of Finance: Mortgage Schemes (12 Dec 2013)

Michael Noonan: In the first instance, as the Deputy can appreciate, in relation to the company referred to and indeed any company considering entering or expanding in the Irish market, this represents a commercial decision for the company involved. Mortgage lending decisions must be undertaken on a sustainable and prudential basis by financial institutions and conform fully to the regulatory requirements,...

Written Answers — Department of Finance: Mortgage Debt (12 Dec 2013)

Michael Noonan: The Land and Conveyancing Law Reform Bill was enacted in July 2013. In its quarterly mortgage arrears and repossession statistics, the Central Bank publishes data on, inter alia, the initiation of legal proceedings to enforce the debt/security on a primary dwelling mortgage by mortgage lenders regulated by the Central Bank. In the year to end June 2013, this data indicates that legal...