Results 1,601-1,620 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (17 Jan 2017)

Michael Noonan: The Programme for a Partnership Government commits to the introduction of a tax on sugar-sweetened drinks (SSDs). The tax will contribute towards important public health goals, as well providing a new source of revenue for public spending. The Department of Health has also supported the introduction of a tax on SSDs in order to reduce added-sugar in diets, particularly the diets...

Written Answers — Department of Finance: Central Bank of Ireland (17 Jan 2017)

Michael Noonan: The Governor of the Central Bank made remarks in June of last year on the topic of technological innovation and financial services. I think it is important to be clear on what the Governor said. He said that in addition to the four primary challenges he identified in the regulatory treatment of financial innovations, technological innovation may also alter the role of central...

Written Answers — Department of Finance: Banking Sector (17 Jan 2017)

Michael Noonan: The most recent ISME Bank Watch Survey for Quarter 4 2016 noted that 30% of companies who applied for funding in the three months covering September to November 2016 were refused credit by their banks. The figure the Deputy is referring to was reported in the survey results for Quarter 2 2016. As the Deputy may be aware, my Department conducts a biannual SME Credit Demand Survey. This...

Written Answers — Department of Finance: Banking Sector (17 Jan 2017)

Michael Noonan: The Programme for Government contains a commitment to investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions. As the Deputy will be aware, the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs (DAHRRGA) has primary responsibility for this commitment. Officials from my Department met with officials from...

Written Answers — Department of Finance: State Aid (17 Jan 2017)

Michael Noonan: On 30 August 2016, it was announced that the Commission had issued a negative decision in the Apple State Aid case. This concluded the investigation that had been on-going formally since June 2014. The investigation was a priority matter for the State. Detailed and comprehensive responses were provided to the Commission demonstrating that the appropriate amount of Irish tax was charged...

Written Answers — Department of Finance: European Central Bank (17 Jan 2017)

Michael Noonan: The Central Bank of Ireland inform me that the actual monthly purchase volumes under the Asset Purchase Programmes (APP) respond to reflect seasonal fluctuations in market liquidity. The immediate run-up to year-end is a period of relatively low market activity and this is the primary reason for the reduction in purchases of all government bonds including Irish government bonds in...

Written Answers — Department of Finance: Economic and Monetary Union (17 Jan 2017)

Michael Noonan: On Sunday 4th December 2016 Italians voted on proposals for constitutional reform proposed by the then Italian Prime Minister Matteo Renzi. By a majority of 59 per cent to 41 per cent the referendum was defeated. Mr Renzi has subsequently resigned and a new Prime Minster, Mr Paolo Gentiloni has been sworn in. It is expected that Mr Gentiloni, the previous Italian Foreign Minister, can...

Written Answers — Department of Finance: Revenue Commissioners Legal Cases (17 Jan 2017)

Michael Noonan: The issue raised by the Deputy relates to Revenue's treatment of patronage shares issued by Kerry Co-operative to certain of its members. Deputies will be aware that Revenue has committed to facilitate the appeals process should a taxpayer raise an appeal to the independent Tax Appeal Commission in relation to this issue.  In relation to share based remuneration schemes, in...

Written Answers — Department of Finance: Exchequer Revenue (17 Jan 2017)

Michael Noonan: I am aware of a number of reports that have presented estimates of the losses to the economy and the Exchequer caused by smuggling and illicit trade. I would point out, however, that estimating the extent of any illicit activity and the losses to which it gives rise is inherently problematic and must, therefore, be approached with caution. Unless a clear and credible methodology is...

Written Answers — Department of Finance: Mortgage Data (17 Jan 2017)

Michael Noonan: I am informed by the Central Bank that information collected by it relating to the category 'unregulated loan owners', published in the Central Bank's quarterly statistics on mortgage arrears and repossessions, is subject to a strict confidentiality agreement with the providers of the data. It is, therefore, not possible for the Central Bank to disclose this information.

Written Answers — Department of Finance: Mortgage Data (17 Jan 2017)

Michael Noonan: I am informed by the Central Bank that it is unable to provide this information in the format requested.  I would however refer the Deputy to the Central Bank's Report on Mortgage Arrears, published on 16th December at , which found that there is a broad range of available restructures offered and delivered by both bank and non-bank entities and there is strong...

Written Answers — Department of Finance: VAT Rate Application (17 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 320 and 328 together. The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive, Irish legislation has applied the standard rate of VAT, currently 23%, to the supply of the national car test service since its introduction in Ireland. The legal requirement to test vehicles does...

Written Answers — Department of Finance: Bank Liquidations (17 Jan 2017)

Michael Noonan: I am advised by the Special Liquidators that there are no ongoing settlement discussions with the party referred to in the question or any of their representatives at this time. Generally speaking, my officials and I would be kept informed by the Special Liquidators at a high level of any such discussions between them and the party referred to in the question but the...

Written Answers — Department of Finance: Proposed Legislation (17 Jan 2017)

Michael Noonan: The Programme for a Partnership Government commits to the introduction of a tax on sugar-sweetened drinks (SSDs).  The tax will contribute towards important public health goals, as well providing a new source of revenue for public spending.  The Department of Health has also supported the introduction of a tax on SSDs in order to reduce added-sugar in diets, particularly...

Written Answers — Department of Finance: Tax Data (17 Jan 2017)

Michael Noonan: It is assumed that the Deputy refers to work that the Revenue Commissioners have been engaged in during the course of 2016 to use 3rd party information and data analytics to identify income-tax payers who have understated their income to Revenue. I am advised that this work is one of a number of projects designed to deliver on a specific objective of the Commissioners' published...

Written Answers — Department of Finance: Loan Books Purchasers (17 Jan 2017)

Michael Noonan: I have been informed that in 2015 the bank in question concluded a sale of a non-core loan book.  The loan book consisted of loans which were secured typically by commercial properties including some Buy-to-Let properties.  The legal action taken by the purchaser of this loan book relates to a warranty in the legal agreements for the sale and relates to a small number of assets...

Written Answers — Department of Finance: Financial Irregularities (17 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 325 and 326 together. The EU implements restrictive measures autonomously at EU level or as a result of resolutions of the Security Council of the United Nations through the publication of EU Regulations. EU Regulations are binding on all Member States once published in the EU Official Journal and appropriate penalties for breach of the regulations are set by...

Written Answers — Department of Finance: NAMA Portfolio (17 Jan 2017)

Michael Noonan: NAMA continuously reviews the assets of every NAMA debtor to establish if properties securing their loans could be utilised for residential development or social housing. In fact, NAMA has an established policy of identifying to Local Authorities, properties which may be suitable for their purposes. NAMA has facilitated the sale or lease by its debtors and receivers of properties,...

Written Answers — Department of Finance: Tax Code (17 Jan 2017)

Michael Noonan: I am advised by the Revenue Commissioners that the breakdown sought by the Deputy, of Dividend Withholding Tax (DWT) collected in relation to Irish dividends paid to non-residents, is not separately available due to the manner in which the information is recorded. The following table may be of interest to the Deputy. This table sets out the Annual amount of DWT collected for the years 2004...

Written Answers — Department of Finance: Real Estate Investment Trusts (17 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 330 to 333, inclusive, together. The Finance Act 2013 inserted Part 25A into the Taxes Consolidation Act 1997 which introduced the tax regime for the operation of Real Estate Investment Trusts (REIT) in Ireland. A REIT is a collective investment vehicle designed to hold properties in a tax neutral manner. I am informed by Revenue that there are currently...