Results 17,841-17,860 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Valuations (28 Feb 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 sets out how the tax is to be administered and how a residential property is to be valued for LPT purposes. I am informed by the Revenue Commissioners that Local Property Tax (LPT) is a self-assessed tax so in the first instance it is a matter for the property owner to calculate the tax due based on his or her assessment of the chargeable value of...

Written Answers — Department of Finance: NAMA Property Leases (28 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 79 and 80 together. As the deputy is aware NAMA has acquired loans from the five participating institutions and is not the owner/operator of properties. The Agency’s role is that of a secured lender. Properties securing NAMA’s loans continue to be owned and managed by their existing owners or, in the case of enforcement, on their behalf by...

Written Answers — Department of Finance: NAMA Property Leases (28 Feb 2013)

Michael Noonan: As the deputy is aware NAMA has acquired loans from the five participating institutions and is not the owner of properties. The Agency’s role is that of a secured lender. Properties securing NAMA’s loans continue to be owned and managed by their existing owners or, in the case of enforcement, on their behalf by the duly appointed receiver/administrator. The scenario referenced...

Written Answers — Department of Finance: NAMA Property Sales (28 Feb 2013)

Michael Noonan: It would be inappropriate for me, as Minister for Finance, to comment on any individual property.

Written Answers — Department of Finance: Disabled Drivers (28 Feb 2013)

Michael Noonan: I understand that the Deputy has clarified that his question related to used vehicles. I am informed by the Revenue Commissioners that Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No. 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (as amended) provide for permanent relief from the payment of specified maximum amounts...

Written Answers — Department of Finance: Tax Code (28 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 84 and 85 together. The provision of domestic coach touring services is exempt from VAT. This means that a person who provides a coach tour service does not register for VAT and cannot recover VAT incurred on goods and services, such as tyres and mechanic charges, used for the purposes of the person’s tour service. However, there is a VAT Refund...

Written Answers — Department of Finance: Banking Sector Remuneration (28 Feb 2013)

Michael Noonan: I refer the Deputy to PQ 43 of 7 November 2012, PQ 211 of 13 November 2012, PQ 65 of 15 November 2012 and PQ 9 of 15 November 2012 which provide information on the basic salaries in IBRC, Permanent TSB, Allied Irish Bank and Bank of Ireland respectively and also PQ 192 of 20 November 2012 giving total remuneration package information for staff in the covered institutions. As the Deputy will...

Written Answers — Department of Finance: Tax Code (28 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that where an individual or their spouse or civil partner is aged over 65, and their income does not exceed the appropriate income tax exemption limit, they are exempt from Deposit Interest Retention Tax (DIRT) arising on credit union special share dividends. The current exemption limits are €18,000 in the case of a single person and...

Written Answers — Department of Finance: IBRC Staff (28 Feb 2013)

Michael Noonan: I am advised by the Special Liquidators that they will pay pension contributions that were due in respect of January and February and that all on-going contributions will be paid in line with the contribution rates pre-liquidation. I am further advised that the vast majority of IBRC staff (>98%) were members of defined contribution schemes (or no pension scheme) as opposed to a defined...

Written Answers — Department of Finance: Departmental Bodies (28 Feb 2013)

Michael Noonan: The information requested by the Deputy in relation to bodies under the aegis of my Department is as follows: Justice Francis D Murphy retired Judge of the High Court and Supreme Court has served as chairperson of the Financial Services Appeals Tribunal for the past six years. The Appeals Tribunal has jurisdiction to hear and determine appeals made by affected persons against appealable...

Written Answers — Department of Finance: Government Bonds (28 Feb 2013)

Michael Noonan: A recent ECB statement published details in relation to their securities holdings acquired under the Securities Markets Programme. This reports nominal SMP Irish bond holdings of €14.2bn at 31 December 2012, valued by the ECB on an amortised cost basis at €13.6bn. However, a detailed breakdown of the particular bonds these relate to, the coupon payments due and the maturity...

Written Answers — Department of Finance: Credit Unions Regulation (28 Feb 2013)

Michael Noonan: I have been informed by the Registrar of Credit Unions that it has been necessary to put lending restrictions in place in credit unions where there are regulatory concerns about the operation of these individual credit unions and the resultant risk to members’ savings. The number of lending restrictions is a reflection of the Registrar of Credit Union’s concerns about lending...

Written Answers — Department of Finance: Unfinished Housing Developments (28 Feb 2013)

Michael Noonan: NAMA advises that it has no current plans to demolish further developments but that this may be considered as a means of reaching resolution on properties where the development is, for reasons including economic and structural considerations, not viable. Decisions will be made on a case by case basis as part of the Site Resolution Plan process to be agreed with each relevant local authority....

Written Answers — Department of Finance: NAMA Portfolio (28 Feb 2013)

Michael Noonan: I am advised that the square footage of office space controlled by NAMA is not publically available. However NAMA provides a breakdown, by value and classification, of properties securing its loans in its 2011 Annual Report, which is available on its website, www.nama.ie. NAMA has indicated that it expects to advance, on a commercial basis, at least €2 billion in development capital...

Written Answers — Department of Finance: NAMA Operations (28 Feb 2013)

Michael Noonan: NAMA advises that its role in relation to properties is that of a secured lender and that applications of the nature referenced by the Deputy are made by the owner of these properties or, in the case of enforcement, by appointed insolvency practitioner on their behalf.

Written Answers — Department of Finance: Economic Growth (28 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 95 and 104 together. The agreement to replace the promissory notes with long-dated sovereign bonds will have many benefits for Ireland. From an economic perspective, one of the key benefits is in helping to restore confidence - the confidence of households, the confidence of firms and the confidence of the international community - although it is...

Written Answers — Department of Finance: Economic Competitiveness (28 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 96 and 97 together. Substantial progress has been made in terms of improving our competitiveness. Relatively lower price inflation in recent years means that Irish price levels have fallen relative to our major trading partners. For instance, in 2012 HICP inflation for Ireland was 2.0 per cent, lower than the euro area average of 2.5 per cent. This trend...

Written Answers — Department of Finance: Credit Availability (28 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 98, 99 and 101 together. 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. One of the key priorities of the Programme for Government is to ensure that an adequate pool of credit is available to fund SMEs in the real economy during the restructuring and...

Written Answers — Department of Finance: House Repossessions (28 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 102 and 103 together. The Central Bank has provided me with the following figures which show the number of PDH properties taken into banks’ possession in each quarter since 2009 Q3. This is when the Central Bank started collecting this data. PDH Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2...

Written Answers — Department of Finance: Illicit Trade in Tobacco (27 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and for tackling the illicit trade in tobacco products, that they attach a high priority to dealing with this criminal activity. Their "Strategy on Combating the Illicit Tobacco Trade (2011-2013)", which is published on the Revenue website (www.revenue.ie), includes a range of measures...