Results 16,121-16,140 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Expenditure (14 May 2013)

Michael Noonan: Rating agency costs relating to NAMA are, in the main, paid by the NTMA as part of its overall sovereign rating programme. NAMA directly bears the cost arising from the rating of NAMA Bonds by Dominion Bond Rating Service (DBRS). NAMA advises that the terms of its agreement with DBRS are commercially sensitive and of a confidential nature.

Written Answers — Department of Finance: Financial Services Sector Remuneration (14 May 2013)

Michael Noonan: I am informed by the Central Bank that the salary of the current Deputy Governor (Financial Regulation), Matthew Elderfield, is €340,000 per annum which represents a reduction of 15% on his original salary of €400,000 on his appointment in January 2010. The Central Bank’s Annual Report for 2010 shows that in 2010, the Deputy Governor also received a fully taxable...

Written Answers — Department of Finance: Banking Sector Issues (14 May 2013)

Michael Noonan: Allied Irish Banks (AIB) announced on 24 April 2013 that the annual cash dividend of €280 million on the €3.5 billion 2009 Non Cumulative Preference Shares held by the National Pensions Reserve Fund Commission (NPRFC) on behalf of the Irish State, due 13 May 2013 will not be paid. As a result AIB becomes obliged to issue and allot ordinary shares to the NPRFC in accordance with...

Written Answers — Department of Finance: Banks Recapitalisation (14 May 2013)

Michael Noonan: The recapitalisation of Allied Irish Banks (“AIB”) was effected through the National Pensions Reserve Fund Commission (“NPRFC”). Section 15A(4) of the National Pensions Reserve Fund Act 2000 (the “Act”, inserted by the Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009) provides that nothing done on behalf of the...

Written Answers — Department of Finance: Banking Licence Applications (14 May 2013)

Michael Noonan: The total number of credit institutions registered in Ireland is 437. A full list of authorised credit institutions is available on the Central Bank website at .It is difficult to clearly demarcate which banks participate in international financial services activity based solely on location in the International Financial Services Centre. The Central Bank has identified the key international...

Written Answers — Department of Finance: Central Bank of Ireland Issues (14 May 2013)

Michael Noonan: The Deputy will appreciate that the Central Bank is not in a position to disclose or discuss the details of its security model or operations. However, security operations are reviewed regularly to ensure they operate to current best practices and in the most effective and efficient manner. In addition, as is the case with all business operations, in the event that there were to be any...

Written Answers — Department of Finance: Tobacco Control Measures (14 May 2013)

Michael Noonan: I take it that the Deputy is referring to the payments that are made to Ireland under the international agreements entered into by four major tobacco manufacturers, the European Union and Member States. I am advised by the Revenue Commissioners that the payments made to Ireland under those agreements in the years 2008 to 2012 are set out in the following table. Payments to Ireland under...

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

Michael Noonan: A key aspect of the work undertaken by Revenue in the implementation of the Local Property Tax (LPT) was the development of a comprehensive register of residential properties in the State. The register was developed using data drawn from a range of sources including Revenue's own databases, the Household Charge database from the Local Government Management Agency (LGMA), Non-Principal...

Written Answers — Department of Finance: Property Taxation Application (14 May 2013)

Michael Noonan: The case referred to by the Deputy refers to a property which has been adapted for a person with a disability. The precise circumstances are not clear from the information supplied but I will outline the exemption and relief which may be available. I refer the Deputy also to my detailed reply to similar questions, No. 115 on 27 March (15664/13) and No. 231 on 16 April (16212/13). Section...

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

Michael Noonan: I am advised by the Revenue Commissioners that they have adopted a very open approach in their work on implementing the Local Property Tax (LPT) to date. In creating its valuation guidance, Revenue consulted widely with academic and other researchers in the field of property valuation. Revenue engaged geo-specialist consultants from an academic institution in Ireland to assist in creating...

Written Answers — Department of Finance: Departmental Funding (14 May 2013)

Michael Noonan: The National Treasury Management Agency (NTMA), as Manager of the National Pensions Reserve Fund (NPRF), does not comment on potential investments for reasons of commercial confidentiality. For various reasons not all opportunities considered by the NPRF necessarily result in an investment. Where the NPRF does ultimately make an investment commitment, these are detailed each year in the...

Written Answers — Department of Finance: Tax Exemptions (14 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that one of their officers has spoken to the taxpayer to discuss his particular tax issues. The options available were explained and it has been arranged that the taxpayer’s agent will contact the Revenue officer directly for any further clarification necessary.

Written Answers — Department of Finance: Property Valuations (14 May 2013)

Michael Noonan: The Deputy will be aware that I have dealt comprehensively with previous questions, both written and in Topical Debates, from herself and from other public representatives on the question of property valuation for Local Property Tax (LPT) purposes. I disagree that continuing problems are being faced by people in fairly valuing their properties. Property owners have already filed in excess...

Written Answers — Department of Finance: IBRC Liquidation (14 May 2013)

Michael Noonan: I have been advised by the Special Liquidators that the Quinn building was sold directly by the Quinn Group and is not pledged or held as security by IBRC. The sale of the Quinn building was therefore not a direct cost to the taxpayer.

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

Michael Noonan: I am advised by the Revenue Commissioners that it is not possible to provide a breakdown of the number of registrations for the Local Property Tax on a regional or administrative area basis until Local Property Tax Returns are filed, processed and the results analysed. Property owners have until 28 May to file their returns electronically.

Written Answers — Department of Finance: Tax Exemptions (14 May 2013)

Michael Noonan: In order to qualify for a charitable tax exemption, a body or trust must be established for charitable purposes only and must apply all of its income to those purposes. Procedures are in place to firstly ensure that the exemption is only granted to bodies that meet the necessary criteria and to secondly satisfy the Revenue Commissioners of continued compliance with the terms of the...

Written Answers — Department of Finance: Mobile Telephony (14 May 2013)

Michael Noonan: The sale of the mobile spectrum in 2012 was a welcome success, yielding the State revenues of approximately €730 million in general government terms for the year. Generally speaking all revenues of the State, including capital receipts, as well as tax revenues and non-tax revenues are paid into the Central Fund. They are not assigned to specific areas of expenditure but rather form...

Written Answers — Department of Finance: Tax Reliefs Application (14 May 2013)

Michael Noonan: Section 50 student accommodation is a section 23 type relief given in respect of the provision of certain third level student accommodation. The scheme was introduced on 1 April 1999 and extended a number of times before finally coming to an end on 31 July 2008. The details of accommodation addresses is not captured as a normal part of individual tax returns, with the result that a list...

Written Answers — Department of Finance: Mortgage Interest Rates Issues (14 May 2013)

Michael Noonan: While the Government is acutely aware of the increasing financial stress that some households are facing in the current environment, ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial matter for the management and the Board of the Institution. As the Deputy will be aware the Relationship Framework with AIB provides that the...

Written Answers — Department of Finance: Public Sector Staff Remuneration (14 May 2013)

Michael Noonan: The following table sets out the number of personnel in whole-time equivalent terms in respect of my Department in each of the following earning brackets. Earnings Band € Number of employees 0-20,000 12.9 20,001-30,000 67.36 30,001-40,000 71.2 40,001-50,000 39 50,001-60,000 35.4 60,001-70,000 2.8 70,001-80,000 33 80,001-90,000 33 90,001-100,000 10 100,001-125,000 9...