Results 14,001-14,020 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: The Central Bank has published on its website, a range of material in relation to the transfer of Newbridge Credit Union to Permanent TSB. This includes a resolution report prepared for the Governor of the Central Bank and an affidavit prepared for a hearing in the High Court. I am advised by the Central Bank of its view that a range of other material remains subject to confidentiality...

Written Answers — Department of Finance: Financial Instruments (19 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 209 to 211, inclusive, together. Position limits are a regulatory tool designed to increase the ability of regulators to ensure stable markets and to prevent market abuse, and this is achieved through imposing limits on the extent to which certain financial market participants can take positions in the market in question. Position limits can be applicable...

Written Answers — Department of Finance: Tax Reliefs Eligibility (19 Nov 2013)

Michael Noonan: The Deputy appears to be suggesting that the increase in Stamp Duty proposed in the Health Insurance (Amendment) Bill 2013 will lead to an increase in policy charges, which in turn will mean that a portion of some policies will no longer qualify for tax relief, because of the restriction in tax relief on health insurance policies which I announced in Budget 2014. The Stamp Duty is part of...

Written Answers — Department of Finance: Tax Reliefs Eligibility (19 Nov 2013)

Michael Noonan: I have considered this matter carefully and I have decided at this time, not to extend the parameters of the scheme to include self-referral for physiotherapy. General practitioners act as an access and control point for the scheme of tax relief on health expenses, as all such expenses must be incurred on the advice or referral of a general practitioner. If physiotherapy was allowed...

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

Michael Noonan: The Deputy will be aware the Relationship Framework with the Allied Irish Banks provides that the State will not intervene in the day-to-day operations of the bank or their management decisions. This framework is published on the Department of Finance website. I must ensure that the bank is run on a commercial, cost effective and independent basis to ensure the value of the bank as an asset...

Written Answers — Department of Finance: Excise Duties Yield (19 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the breakdown in excise returns by category for November 2013 is not yet available. The breakdown in excise by category and by month from January 2011 to October 2013 is as follows: 2011 Alcohol €m Tobacco €m Oils €m Carbon €m VRT €m Other Excise €m JAN 87.8 0.6 234.7 14.5 41.5 12.1 FEB 35.9 26.8...

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

Michael Noonan: ACC Bank is a subsidiary of the Rabobank Group based in the Netherlands which has taken the commercial decision, as a private enterprise, to return ACC’s banking licence to the Central Bank. The Central Bank does not envisage that this will occur until the second half of 2014. As Minister for Finance, the issue of selling the bank does not arise because it is owned by Rabobank...

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

Michael Noonan: The Central Bank Mortgage Arrears Resolution Targets requires the main mortgage lenders to propose and conclude sustainable agreements with their mortgage customers who are in arrears of more than 90 days on their mortgage. The targets so far set require the relevant banks to propose sustainable solutions to - 20% of their mortgage customers who are in arrears of over 90 days by end June...

Written Answers — Department of Finance: Mortgage Resolution Processes (19 Nov 2013)

Michael Noonan: My Department is now publishing mortgage restructures and mortgage arrears data, on a monthly basis, in respect of the six institutions covered by the Central Bank Mortgage Arrears Resolution Targets (MART) process. The most recent published data is for the end of September and it shows that, in respect of those institutions, a permanent split mortgage restructure has been put in place for...

Written Answers — Department of Finance: Black Economy Issues (19 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that they are aware of the threat that illicit trade in this area causes both to the exchequer and to legitimate business. Sales of solid fuel, including coal, peat and chopped wood offered for sale as a fuel, are subject to VAT at a rate of 13½ %. Any person whose sales in a 12 month period exceed or are likely to exceed €75,000 is...

Written Answers — Department of Finance: Pension Provisions (19 Nov 2013)

Michael Noonan: I advised that Pension Schemes that were available to staff at Anglo Irish Bank included defined benefit schemes (which closed to new membership in 1994) and a defined contribution scheme. These schemes are funded schemes, and are operated by appointed trustees. The schemes are operated independently from the bank under distinct rules and legislation. Payments are not made from the Exchequer...

Written Answers — Department of Finance: Property Taxation Exemptions (19 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 221 and 223 together. In accordance with the Finance (Local Property Tax) Act 2012 (as amended), liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which was 1 May 2013 for 2013 and for subsequent years is 1 November in the preceding year. Section 119 of the Act sets out the dates for payment...

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

Michael Noonan: I am informed by the Revenue Commissioners that as the information furnished on VAT returns does not require the yield for a particular sector or sub-sector of economic activity to be identified, the amount of VAT collected on hand held radios issued to drivers cannot be identified.

Written Answers — Department of Finance: Property Taxation Collection (19 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that compliance data for the Local Property Tax (LPT) for 2013 are only available broken down by city and county councils nationally and the most up to date figures are published on the Commissioners website at: . The Deputy will be aware that the Pay and File campaign for LPT 2014 is underway and this is Revenue’s current priority in...

Written Answers — Department of Finance: National Pensions Reserve Fund Administration (14 Nov 2013)

Michael Noonan: In September 2013, the National Pensions Reserve Fund (NPRF) agreed a €250 million two-year bridging facility with Irish Water to provide short-term funding for its start-up costs and metering installation costs. To date, €160 million has been drawn down by Irish Water and the balance is expected to be called in January 2014.

Written Answers — Department of Finance: Property Taxation Administration (14 Nov 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) provides that liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which was 1 May 2013 for 2013, and, for subsequent years, 1 November in the preceding year. Section 119 of the Act sets out the dates for payment of the LPT, and clarifies that, while the LPT is due by...

Written Answers — Department of Finance: Credit Unions (14 Nov 2013)

Michael Noonan: Unfortunately I am not in a position to comment on the specifics of any accounts with IBRC which is now in liquidation. As the Deputy is aware there are a number of depositors who fall outside the eligibility criteria for the ELG Scheme due to the nature and timing of the investment in certain structured products. Unfortunately, if a deposit is not eligible under the ELG scheme the depositor...

Written Answers — Department of Finance: Property Taxation Collection (14 Nov 2013)

Michael Noonan: I am fully aware of the issues that have been raised concerning once-off payments by credit card. The subject was extensively dealt with by the Chairman of the Revenue Commissioners in her appearance before the Joint Committee on Finance, Public Expenditure and Reform on 7 November 2013. Similar questions concerning payment of the 2014 LPT liability by credit card have been raised by a...

Written Answers — Department of Finance: Tax Reliefs Availability (14 Nov 2013)

Michael Noonan: As the Deputy is aware, I announced the Home Renovation Incentive in the recent Budget. This scheme will run from 25 October 2013 to 31 December 2015 and provides for tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. There is no VAT relief under this scheme....

Written Answers — Department of Finance: Tax Reliefs Availability (14 Nov 2013)

Michael Noonan: I have been informed by AIB that the bank does not publicly disclose the details of contracts with individual external service providers. AIB utilises the expertise of a number of different third party firms on a case by case basis, subject to an evaluation of the bank's requirements, costs and the relevant external parties. AIB is focused on a significant cost reduction programme and, as...