Results 16,141-16,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Illicit Trade in Tobacco (14 May 2013)

Michael Noonan: I am informed by the Revenue Commissioners that combating the illegal tobacco trade is, and will continue to be, a high priority for them. Their “Strategy on Combating the Illicit Tobacco Trade (2011-2013)” includes a wide range of measures designed to identify and target those engaged in the supply or sale of illicit tobacco products, with a view to seizing the illicit...

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

Michael Noonan: I am informed by the Revenue Commissioners that statistics on the amount of income tax, including Universal Social Charge (USC) paid by the employees of multinational companies that have invested in Ireland are not separately available. However, the amount of income tax, including USC, paid in 2012 by the 50 companies, managed in Revenue’s Large Cases Division, which manages the...

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

Michael Noonan: The Government decided that a universal liability to the Local Property Tax (LPT) should apply to all owners of residential properties with a limited number of exemptions. The Finance (Local Property Tax) Act 2012, as amended, does not contain an exemption related to the previous payment of Stamp Duty. The Inter-Departmental Expert Group on the Design of a Property Tax (the...

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

Michael Noonan: In response to the Deputy's question the following table outlines details in respect of the individual amount of overtime paid in the case of each political/Ministerial appointee for the period 2007 to date in 2013. Minister No. of Political Appointees Amount € Total € Brian Cowen 1 15,274 15,274 Brian Lenihan 2 35,020 40,773 75,793 Michael Noonan 1 19,859 19,859 In...

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

Michael Noonan: I can inform the Deputy that under the terms of the Relationship Frameworks that govern the relationship between the Minister for Finance and the covered institutions, the Board and Management team retain responsibility and authority for determining the banks' strategies and commercial policies and conducting their day-to-day operations. The appointment of rent receivers to buy to let...

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

Michael Noonan: As the Deputy is aware, I have no statutory function in relation to banking decisions made by individual lending institutions at any particular time. This is ultimately a commercial decision for the management team and board of each bank, having due regard to their customers and the impact on profitability. Notwithstanding the fact that the State is a minority shareholder in Bank of...

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

Michael Noonan: For Local Property Tax (LPT) purposes, a residential property is defined as any building or structure (or part of a building) which is used as, or is suitable for use as, a dwelling. This is similar to the position for the Household Charge, which applied to a building (including a house, flat, maisonette, or apartment) which was occupied or suitable for occupation as a separate dwelling. ...

Written Answers — Department of Finance: Banking Sector Issues (9 May 2013)

Michael Noonan: The Government recognises that SMEs are the lifeblood of the economy and will play a vital role in the recovery of employment growth in our country. It is also very conscious of the costs faced by SMEs in doing business and one of the aims of the Action Plan for Jobs 2013 is to reduce controllable costs of doing business. I have no statutory function in relation to business interest rate...

Written Answers — Department of Finance: Property Taxation Application (9 May 2013)

Michael Noonan: The Government agreed with the recommendation of the “Thornhill Group” – the expert group that advised on the design of the Local Property Tax (LPT) – that the tax should be centred on the principles of equity, transparency and simplicity. It was also considered that a universal liability should apply to all owners of residential property with a limited number of...

Written Answers — Department of Finance: Mortgage Repayments Issues (9 May 2013)

Michael Noonan: I can assure the Deputy that the Government is very aware of the significant difficulties some homeowners are facing in meeting their mortgage obligations and it has put in place a comprehensive strategy to address the problem focusing on four main distinct areas: - Innovative Personal Insolvency Reform: Personal insolvency reform was identified by the Keane Report as a catalyst for...

Written Answers — Department of Finance: Excise Duties Yield (9 May 2013)

Michael Noonan: The breakdown in excise returns by category and by month from January 2011 to February 2013 is as follows: 2011 Alcohol Tobacco Oils Carbon VRT Other Excise Jan 87.8 0.6 234.7 14.5 41.5 12.1 Feb 35.9 26.8 176.7 44.7 57.7 9.0 Mar 51.2 64.7 183.0 23.3 49.1 8.2 Apr 67.9 96.1 180.2 32.2 45.9 9.5 May 67.5 65.4 177.5 19.4 33.5 5.5 Jun 65.6 102.9 177.9 26.9 36.1 4.8 Jul 70.8 113.7 174.3...

Written Answers — Department of Finance: Excise Duties Yield (9 May 2013)

Michael Noonan: Consistent with the recently published April Stability Programme Update, the forecast for excise duties in 2013 is €4,920 million. This is unchanged from the Budget 2013 estimate. It is important to take into account that this estimate is inclusive of the impact of all measures introduced in Budget 2013, including the increase in revenues from the increase in motor tax rates. With the...

Written Answers — Department of Finance: IBRC Liquidation (9 May 2013)

Michael Noonan: I propose to take Questions Nos. 46, 60 and 64 together. The Special Liquidators have responsibility for the appointment of independent valuers to value the assets of IBRC. Section 9 of the IBRC Act provides that the Minister shall issue the Special Liquidator with instructions setting out the details of the manner in which the winding up of IBRC is to proceed. Section 9 also gives the...

Written Answers — Department of Finance: NAMA Bonds (9 May 2013)

Michael Noonan: I am advised that NAMA issued senior bonds totalling €12.928 billion as consideration for the Deed of Assignment and Transfer between CBI and NAMA and National Asset Resolution Ltd. Over the next 12 months, assuming current interest rate expectations and no redemptions on these bonds, two coupon payments, totalling approximately €37m, are expected to be paid to the CBI. The...

Written Answers — Department of Finance: NAMA Bonds (9 May 2013)

Michael Noonan: I propose to take Questions Nos. 48 and 49 together. As the Deputy is aware, prior to liquidation, IBRC’s funding profile was primarily reliant on borrowings from the Central Bank of Ireland. The majority of funds were advanced to IBRC under a Special Master Repurchase Agreement (“SMRA”), involving the sale and repurchase of the c. €25bn nominal value...

Written Answers — Department of Finance: IBRC Liquidation (9 May 2013)

Michael Noonan: The special liquidators have confirmed that Irish Bank Resolution Corporation Limited holds an interest (either directly or indirectly) in various entities, some of which are 100% owned, other subsidiaries have equity structures that reflect share ownership by the bank which ranges from minimal ownership up to and including full ownership by the bank. Interests are held in entities...

Written Answers — Department of Finance: Government Bonds (9 May 2013)

Michael Noonan: The Central Bank has confirmed that following the termination of IBRC’s market repo of the 5.4% Irish 2025 bond in the context of the special liquidation of IBRC, this particular bond was acquired by it. As the purchase was carried out on the secondary market, between the Central Bank and Bank of Ireland, the transaction did not breach Article 123 of the Treaty which contains a...

Written Answers — Department of Finance: IBRC Liquidation (9 May 2013)

Michael Noonan: There are various unguaranteed liabilities of IBRC and the final liability will only become known at the conclusion of the liquidation process. The holders of the two ELG scheme guaranteed bonds with an equivalent scheme value of €933.77 million have been fully compensated from the ELG Scheme. The State will become an unsecured creditor in relation to this amount and will be paid...

Written Answers — Department of Finance: Property Taxation Exemptions (9 May 2013)

Michael Noonan: The deferral arrangements in the Finance (Local Property Tax) Act 2012, as amended, are focused on particular categories of householders and enable cases where there is an inability to pay the Local Property Tax (LPT) to be addressed. To qualify for a deferral, the residential property must be occupied as a sole or main residence. The gross income thresholds for a full deferral are...

Written Answers — Department of Finance: Tax Yield (9 May 2013)

Michael Noonan: The information requested by the Deputy is set out in the table showing the amounts received into the Exchequer in respect of Capital Gains Tax (CGT) in the years 2010 to 2012. The figure for 2013 is the current estimate of CGT for the year which is consistent with current forecasts published in the Stability Programme Update on the 30th April 2013. € million 2010 2011 2012 2013...