Results 18,261-18,280 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Yield (5 Feb 2013)

Michael Noonan: The amount of tax payable on a pint of beer or stout, a half glass of spirits and a small glass of wine, at the prices indicated are set out below: Tax Take on Alcohol Products Stout Lager Spirits Wine Pint Pint 35.5ml 175ml Price 4.35 5 3.9 5.5 Excise Duty 0.46 0.46 0.52 0.65 VAT 23% 0.81 0.93 0.73 1.03 Total Duty 1.27 1.39 1.25 1.68 The Deputy should be...

Written Answers — Department of Finance: Departmental Staff Redeployment (5 Feb 2013)

Michael Noonan: The person referred to by the Deputy was seconded to the Irish Bank Resolution Corporation on 2nd October 2012 for a period of six months after which time the secondment would be reviewed. As the Head of Market Solutions and a member of the Executive Management Committee the secondee is responsible for all aspects of deal execution in respect of certain designated portfolios. In addition,...

Written Answers — Department of Finance: Banking Sector Regulation (5 Feb 2013)

Michael Noonan: IBRC have a banking licence and continue to be regulated by the Central Bank of Ireland. The Central Bank is the competent authority in Ireland for the issuing of banking licences. Unfortunately I am not in a position to answer the question posed by the Deputy as it is hypothetical in nature.

Written Answers — Department of Finance: Banking Licence Breaches (5 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 271 and 274 to 276, inclusive, together. I have been advised that as disclosed previously in IBRC’s published account and as the organisation in wind down, IBRC is not in full compliance with Irish regulatory requirements. The Central Bank of Ireland, as the primary regulator of IBRC, is fully aware of this. Any breaches of certain technical...

Written Answers — Department of Finance: Banking Licence Breaches (5 Feb 2013)

Michael Noonan: The Central Bank of Ireland has informed me that under Section 33AK of the Central Bank Act 1942, the Bank is restricted in its ability to disclose details of the supervision of individual credit institutions, and cannot therefore provide details of any breaches of the its licensing and supervision requirements. The Central Bank has confirmed that in the event of a breach occurring, action...

Written Answers — Department of Finance: Banking Licence Breaches (5 Feb 2013)

Michael Noonan: The Central Bank has informed me that in the context of efforts to address the difficulties in the Irish banking sector, it was made aware of the challenges faced by institutions to maintain minimum regulatory standards. The breaches were first reported in IBRC’s Interim 2010 accounts which cover the first six months of that year. In this regard and given Irish Bank Resolution...

Written Answers — Department of Finance: Excise Duty Reliefs (5 Feb 2013)

Michael Noonan: Article 4 of Directive 92/83/EEC allows for a lower rate to be applied to beer produced by small breweries. This provision is however specific to beer, and there is no corresponding provision to cover other fermented beverages, including cider. Under EU law (Art 13(2) of Council Directive 92/83/EEC) we are obliged to apply the same rate of excise duty to all other fermented beverages, which...

Written Answers — Department of Finance: Tax Collection (5 Feb 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that contact has been made with the pension provider who has advised that a small amount of Universal Social Charge has been deducted in error from the pension. The error will be corrected and the amount deducted will be refunded.

Written Answers — Department of Finance: Departmental Expenditure (5 Feb 2013)

Michael Noonan: The information requested by the Deputy could not be collated in the time available. My Department will respond directly to the Deputy as soon as possible.

Written Answers — Department of Finance: Mortgage Arrears Rate (5 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 280 and 281 together. The Central Bank of Ireland compiles and publishes data on a quarterly basis on mortgage arrears, repossessions and mortgage restructures on an aggregate basis across the State and the latest data was published in December 2012 for end Quarter 3, 2012. The Central Bank has advised me that it does not publish mortgage arrears data on a...

Written Answers — Department of Finance: Property Taxation Exemptions (5 Feb 2013)

Michael Noonan: I am advised by the Revenue Commissioners that in line with other taxes such as Capital Gains Tax (CGT) and Capital Acquisitions Tax (CAT), where the market value of residential property is relevant to the assessment for a tax, the curtilage of the dwelling house includes an area of up to one acre. This is regarded as land which is enjoyed as an amenity with the dwelling-house and includes...

Written Answers — Department of Finance: Consultancy Contracts (5 Feb 2013)

Michael Noonan: As the Deputy is aware discussions in relation to the Promissory Notes have been on-going for some time. This has been part of a wider range of considerations on national debt sustainability and the cost of recapitalising and supporting the Irish banking industry. A number of resources external to the civil service have been retained since March 2011 to assist in technical and strategic...

Written Answers — Department of Finance: Tax Rebates (5 Feb 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that, as the person concerned did not pay income tax or Universal Social Charge during 2012, there is no rebate due.

Written Answers — Department of Finance: Budget 2014 Issues (5 Feb 2013)

Michael Noonan: In 2011, EU countries launched the European Semester cycle as agreed at the European Council in June 2010. The aim of the Semester is that EU-level discussions on fiscal policy, macroeconomic imbalances, financial sector issues, and growth-enhancing structural reforms will now always take place before governments draw up their draft budgets and submit them to national parliamentary debate in...

Written Answers — Department of Finance: Mortgage Interest Rates (5 Feb 2013)

Michael Noonan: I, as Minister for Finance, have no statutory role in the setting of the standard variable mortgage interest rates charged by regulated financial institutions. It is a commercial matter for each lending institution concerned. The standard variable mortgage interest rates that financial institutions operating in Ireland charge to customers are determined as a result of a commercial decision...

Written Answers — Department of Finance: Property Taxation Application (5 Feb 2013)

Michael Noonan: The legislation governing Local Property Tax (LPT) is contained in the Finance (Local Property Tax) Act 2012 which was enacted on 26 December 2012. The legislation sets out in detail how the tax is to be administered and provides how a residential property is to be valued for LPT purposes. There is no specific exemption from the Local Property Tax for the type of cases outlined in the...

Written Answers — Department of Finance: Tax Collection (5 Feb 2013)

Michael Noonan: I assume the Deputy is referring to the Health Contribution which was introduced in the Health Contributions Act, 1979. The position is that the Universal Social Charge, introduced in Budget 2011 replaced the Health Contribution and Income Levy. Therefore, I am unable to provide the data sought by the Deputy.

Written Answers — Department of Finance: Insurance Costs (5 Feb 2013)

Michael Noonan: Pricing of insurance is generally determined by an assessment an insurer will make of the risks involved. Generally I understand that previous claims experience will have a major influence on such matters. Therefore, if there has been a major increase in claims in a particular area, then this will be reflected in an increase in premiums. Competition in the market place acts as a...

Written Answers — Department of Finance: Tax Rebates (31 Jan 2013)

Michael Noonan: Cohabiting couples are not recognised for the purposes of income tax law and are treated as separate and unconnected individuals. The social welfare circumstances of one partner have no bearing on the tax position of the other.

Written Answers — Department of Finance: EU-IMF Agreement (31 Jan 2013)

Michael Noonan: I propose to take Questions Nos. 59 to 61, inclusive, together. Following the eighth review mission in October 2012 the EU/IMF delegation proposed to supply a document outlining certain options concerning Ireland’s exit from the Programme of Financial Support. My Department has received a technical document which will form the basis of the discussions during the current 9th review...