Results 1,781-1,800 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (29 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 157 and 162 together. I would first note that, since the establishment of the Revenue Commissioners in 1923, successive Governments and the Oireachtas have reaffirmed the principle of the independence of the Revenue Commissioners in their dealings with the tax affairs of any individual under tax and customs legislation. This independence is seen as...

Written Answers — Department of Finance: Mortgage Data (29 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 158 and 159 together. I am informed by the Central Bank that information collected by it relating to unregulated loan owners and retail credit firms, 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...

Written Answers — Department of Finance: Banks Recapitalisation (29 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 160 and 161 together. As the Deputy is aware, the Central Bank of Ireland announced in October 2015 that it would conduct a detailed review of Tracker Mortgage portfolios with all the banks under its supervision. The Central Bank sought to conduct a broad examination of tracker mortgage-related issues covering, among other things, transparency of...

Written Answers — Department of Finance: Banking Sector Investigations (29 Nov 2016)

Michael Noonan: The Tomlinson report dealt with the lending practices of UK banks to Small and Medium Sized Enterprises (SMEs) and it alleged that a division of Royal Bank of Scotland (RBS), the Global Restructuring Group, was guilty of "systematic and institutional behaviour" in artificially distressing otherwise viable businesses. Following this report, the UK's Financial Conduct Authority (FCA) appointed...

Written Answers — Department of Finance: Departmental Reports (29 Nov 2016)

Michael Noonan: The information requested by the Deputy in relation to reports commissioned by my Department from external parties which were completed but not published is set out in tabular form in the table. As the Deputy is aware, the Department of Public Expenditure and Reform was established in 2011 and assumed certain functions previously held by the Department of Finance; therefore reports which...

Written Answers — Department of Finance: Departmental Agencies (29 Nov 2016)

Michael Noonan: I am assuming that the Deputy is referring to non-disclosure or confidentiality agreements which govern the ongoing relationship between my Department or the agencies which report to my Department and other organisations. There are no ongoing non-disclosure or confidentiality agreements between my Department with any organisations arising from court action or threatened...

Written Answers — Department of Finance: Mortgage Lending (29 Nov 2016)

Michael Noonan: The supplementary material provided by the Deputy in respect of this question would appear to refer to the Central Bank statement of 23 November 2016 regarding changes to its macro-prudential mortgage lending rules and which will come into effect from 1 January 2017. These mortgage lending control measures apply to any Central Bank regulated financial provider which provides a mortgage...

Written Answers — Department of Finance: Departmental Staff (29 Nov 2016)

Michael Noonan: I wish to inform the Deputy that I have not appointed additional Special Advisors. I have 2 Special Advisors in accordance with Section 11 of the Public Service Management Act, 1997. The responsibilities of Minister of State Eoghan Murphy TD spans both the Department of Finance and the Department of Public Expenditure and Reform. In that regard, I have been informed that the Minister...

Written Answers — Department of Finance: Tax Code (24 Nov 2016)

Michael Noonan: Section 118(5A) of the Taxes Consolidation Act 1997 exempts employees and directors from benefit-in-kind taxation where an expense has been incurred by an employer on the provision of a monthly or annual bus or train/Luas pass for the employee or director. The exemption also includes passes for travel on commuter ferry services which operate within the State in respect of journeys which...

Written Answers — Department of Finance: Fiscal Compact Treaty (24 Nov 2016)

Michael Noonan: On 12th July the EU's Council of Economic and Finance Ministers (ECOFIN) made decisions, under Article 126(8) of the Treaty of the functioning of the European Union, that Portugal and Spain had not taken effective action to correct their excessive deficits. The ECOFIN Council subsequently adopted decisions on 8th August giving notice of revised excessive deficit correction deadlines under...

Written Answers — Department of Finance: Tax Collection (24 Nov 2016)

Michael Noonan: A person who disposes of a foreign life assurance policy is chargeable to capital gains tax on the profit of their investment or in respect of the growth in value of the policy. I am advised by Revenue that the person concerned recently filed his 2015 CGT return under self assessment, declared a gain and paid the tax in respect of a disposal of a foreign life policy. Having regard to the...

Written Answers — Department of Finance: Bank Charges (24 Nov 2016)

Michael Noonan: While I am not aware of the specific situation raised by the deputy, and cannot comment on individual customer cases, I would make the general point that customers can often find a financial product better suited to their usage needs by switching to a new product or indeed to another institution. Many banks offer a number of ways to reduce transaction fees, in addition to offering...

Written Answers — Department of Finance: Departmental Agencies Staff Data (24 Nov 2016)

Michael Noonan: In response to the Deputy's question I am interpreting boards to mean State Boards and agencies to refer to the other bodies under the aegis of my Department. There are 18 bodies in total, of which 7 are State boards. Details in response to the question are in tabular form.  Body The number of vacancies on boards or agencies within his department's remit that currently exist The...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (24 Nov 2016)

Michael Noonan: The Help to Buy incentive is a new income tax relief designed to assist first-time buyers with obtaining the deposit required to purchase or build their first home. With a view towards increasing the supply of new housing, the relief will only be available in respect of 'new builds'.  To be eligible to apply for the Help to Buy incentive, a first-time buyer must take out a mortgage of...

Written Answers — Department of Finance: Tax Code (24 Nov 2016)

Michael Noonan: Maternity benefit has been chargeable to income tax since 1 July 2013.  It is assumed that the Deputy is referring to a scenario where an employee receives full wages or salary while on maternity leave and the maternity benefit is mandated by the employee directly to their employer.  I understand that in such a scenario an employee should not pay more tax than they would if they...

Written Answers — Department of Finance: Pensions Legislation (24 Nov 2016)

Michael Noonan: The Deputy is correct in indicating that the Irish tax treatment of exempting from tax the investment income and chargeable gains arising in respect of assets held in an approved retirement fund (ARF) applies regardless of whether the qualifying fund manager is an insurance company or some other type of provider. However, as indicated in my reply to the Deputy's previous...

Written Answers — Department of Finance: Financial Services Regulation (24 Nov 2016)

Michael Noonan: The Tomlinson report dealt with the lending practices of UK banks to Small and Medium Sized Enterprises (SMEs) and it alleged that a division of Royal Bank of Scotland (RBS), the Global Restructuring Group, was guilty of "systematic and institutional behaviour" in artificially distressing otherwise viable businesses. Following this report, the UK's Financial Conduct Authority (FCA) appointed...

Written Answers — Department of Finance: Life Insurance Policies (24 Nov 2016)

Michael Noonan: I am advised by Revenue that the following table sets out the total amounts collected in respect of life assurance levy for the years requested by the Deputy. - 2010 2011 2012 2013 2014 2015 - €m €m €m €m €m €m Life Assurance Levy €45.03 €31.60 €24.12 €25.40 €27.85 €30.70

Written Answers — Department of Finance: Tax Collection (24 Nov 2016)

Michael Noonan: I am advised by Revenue that as the information concerned relates to the tax affairs of another individual, then in accordance with the confidentiality obligation imposed on Revenue by Section 851A Taxes Consolidation Act 1997, the information requested cannot be provided.

Written Answers — Department of Finance: Financial Services Regulation (24 Nov 2016)

Michael Noonan: The Central Bank does not publish information on applications for authorisation for confidentiality reasons. Authorised firms are listed on the Central Bank registers, which are available on registers.centralbank.ie. The Central Bank does publish at regular intervals its Regulatory Service Standards Performance Report. The most recent report is available from the...