Results 14,441-14,460 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Pensions Levy Issues (15 Oct 2013)

Michael Noonan: I would like to make the Deputy aware that the answer to this question has been prepared on a pre-Budget basis only and does not reflect any measures which have been announced as part of Budget 2014. A temporary 0.6% stamp duty levy on pension fund assets was introduced in the Finance (No.2) Act 2011 as a measure to fund the Jobs Initiative. This was estimated to yield €470 million a...

Written Answers — Department of Finance: Consultancy Contracts Expenditure (15 Oct 2013)

Michael Noonan: I can only reply in respect of my Department and the offices/agencies under the aegis of my Department. In the period since 2008 a total of €11.132m has been paid to Ernst & Young and Grant Thornton. This is the figure to date in 2013 for all offices and agencies under the aegis of my Department with the exception of the following: - NAMA & the NTMA group - the figure...

Written Answers — Department of Finance: VAT Rate Application (15 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 41 and 42 together. I am advised by the Revenue Commissioners that sales of hurleys are liable to VAT at the standard rate, currently 23%. This information is available on the VAT Rates Database on the Revenue website www.revenue.ie. A change in VAT rates must be in compliance with the EU VAT Directive. This Directive generally provides that supplies of...

Written Answers — Department of Finance: Property Taxation Collection (10 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 51 and 61 together. In response to Question No. [42929], I am advised by Revenue that the anomaly to which the Deputy refers only arises in a very small number of cases where the PPS numbers are formatted in an old style that is incompatible with the current IT systems. Generally speaking the PPS numbers concerned are those that were historically assigned...

Written Answers — Department of Finance: Financial Services Regulation (10 Oct 2013)

Michael Noonan: I have been informed by the Central Bank that their review of payment protection insurance policies covers the selling of these products under the suitability requirements of the Consumer Protection Code, which was introduced in July 2007. Policies from that date only are included as part of the review. In the case of payment protection insurance policies sold prior to July 2007,...

Written Answers — Department of Finance: NAMA Transactions (10 Oct 2013)

Michael Noonan: NAMA will sell a loan portfolio only where it concludes that this is likely to produce the best financial result for the taxpayer by comparison with the alternatives such as the sale of the underlying relevant secured properties. As has been previously described, NAMA has adopted a very thorough approach in line with international best practice for the sale of loans, central to which is the...

Written Answers — Department of Finance: Private Pension Levy Yield (10 Oct 2013)

Michael Noonan: A temporary 0.6% stamp duty levy on pension fund assets was introduced in the Finance (No.2) Act 2011 as a measure to fund the Jobs Initiative. This was estimated to yield €470 million a year for 4 years. The Revenue Commissioners have advised me that receipts amounted to €463 million in 2011 and €483 million in 2012. This is broadly in line with the amounts anticipated...

Written Answers — Department of Finance: NAMA Investment Funds (10 Oct 2013)

Michael Noonan: NAMA’s objective is to recover the greatest amount possible for the taxpayer through the management and disposal of its acquired loans and the property assets securing them. In line with this, NAMA does not engage in fire sales, which is the sale of a loan or asset at below its intrinsic value. Rather, loans and properties are made available for sale in line with the absorption...

Written Answers — Department of Finance: Tax Collection (10 Oct 2013)

Michael Noonan: This is a matter for the Revenue Commissioners who advise me that they will investigate the matter raised by Deputy McGrath. For reason of taxpayer confidentiality, they will not be in a position to advise the Deputy of the outcome, but they will communicate directly with the person who contacted the Deputy regarding his personal tax affairs.

Written Answers — Department of Finance: Consumer Protection (10 Oct 2013)

Michael Noonan: If an insurance firm does not provide a consumer with two months' notice of their intention to cease operating, this is a potential breach of Section 3.11 of the Consumer Protection Code. The consumer can make a complaint to the Financial Services Ombudsman who deals independently with unresolved complaints from consumers about their individual dealings with all financial service providers....

Written Answers — Department of Finance: Government Pay Cap (10 Oct 2013)

Michael Noonan: The Government pay cap was introduced on 21 June 2011 on foot of a Government Decision (S180/20/10/1333) when it adopted a general policy of a €200,000 annual salary pay ceiling for new appointees to Senior Positions across the Public Service. This equalled the then Taoiseach's annual salary of €200,000 which was reduced under the FEMPI Act 2013 to €185,350 from 1 July...

Written Answers — Department of Finance: Financial Services Ombudsman Issues (10 Oct 2013)

Michael Noonan: I received the following information from the office of the Financial Services Ombudsman Bureau: During the period from 1 January 2010 to 8 October 2013, the Financial Services Ombudsman (FSO) received a total of 29, 640 complaints; he issued some 10,753 findings during the same period. 142 findings were appealed to the High Court i.e. 1.32% of the finding issued. There have been 6 appeals...

Written Answers — Department of Finance: VAT Rate Reductions (10 Oct 2013)

Michael Noonan: The 9% reduced VAT rate for tourism related services was introduced in July 2011 as part of the Government Jobs Initiative. The measure was designed to boost tourism and create additional jobs in that sector. In line with best international practice it was introduced as a temporary measure and is due to expire at end December 2013, at which point it will revert to 13.5%. Retaining the 9%...

Written Answers — Department of Finance: Banking Sector Issues (10 Oct 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: IBRC Liquidation (10 Oct 2013)

Michael Noonan: I have been advised by the Special Liquidators that on the appointment of the Special Liquidators, Irish Bank Resolution Corporation Limited was already in dialogue with the Revenue Commissioners in relation to an open tax audit. The Special Liquidators are working with the Revenue Commissioners to close out the tax audit and some additional tax issues that have come to their attention. As...

Written Answers — Department of Finance: Credit Review Office Appeals (9 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 56 and 57 together. The Credit Review Office (CRO) has provided me with the following information: County Number of Applications To Date Carlow 4 Cavan 6 Clare 4 Cork 36 Donegal 9 Dublin 101 Galway 9 Kerry 15 Kildare 11 Kilkenny 4 Laois 7 Leitrim 2 Limerick 22 Longford 6 Louth 8 Mayo 9 Meath 11 Monaghan 2 Offaly 4...

Written Answers — Department of Finance: Tax Reliefs Availability (9 Oct 2013)

Michael Noonan: With regard to VAT, persons who are registered for VAT are entitled to claim input credit for VAT charged on the installation of a wind turbine for use in their taxable activities. In addition, the VAT (Refund of Tax) (Flat-rate Farmers) Order 2012 provides that flat-rate farmers, who are not registered for VAT, can claim a refund of tax borne on the purchase of a wind turbine for the...

Written Answers — Department of Finance: Credit Unions Issues (9 Oct 2013)

Michael Noonan: The Question is referring to the proposed combination between Newbridge Credit Union and Naas Credit Union. I wish to confirm that in the course of the meeting with the Newbridge Credit Union Action Group, I did not mention a specific figure regarding the cost of the combination of these credit unions. As I stated in reply to Question Nos. 35 and 46 last week in clarification of this...

Written Answers — Department of Finance: Alcohol Pricing (9 Oct 2013)

Michael Noonan: The Deputy should be aware that EU Directive 92/93, which governs the structure of alcohol taxation, requires that such taxes are applied by reference to the nature and strength of the product rather than the means of packaging. It does not provide for different tax treatment of alcohol products depending on where the product is sold. Accordingly, the introduction of such a levy would not be...

Written Answers — Department of Finance: Budget Submissions (9 Oct 2013)

Michael Noonan: My Department has so far received in excess of 500 Pre-Budget Submissions from a wide range of groups and individuals. These are being considered by the relevant officials in the context of Budget and Finance Bill preparation. I can confirm that a submission from the Simon Community has been received. However, as the Deputy will be aware, it is not the practice of the Minister for Finance to...