Results 18,341-18,360 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation (29 Jan 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 sets out in detail how Local Property Tax (LPT) is to be administered and provides how a residential property is to be valued for LPT purposes. The Act also provides for a number of specific exemptions from the charge. A broad outline of exempt properties include: - New and previously unused properties that are purchased from a builder or...

Written Answers — Department of Finance: NAMA Property Leases (29 Jan 2013)

Michael Noonan: The Department cannot provide all the details requested by the Deputy in the time available. This information should be available within the next week and, accordingly, I will issue a reply to the Deputy at that stage.

Written Answers — Department of Finance: NAMA Property Sales (29 Jan 2013)

Michael Noonan: NAMA has not requested a lifting of the restriction on it selling properties back to defaulting debtors. I do not believe there is merit in such a course of action at this time as I consider it appropriate that NAMA has put procedures in place to deal with this issue.

Written Answers — Department of Finance: Public Sector Conflicts of Interest (29 Jan 2013)

Michael Noonan: The Civil Service Code of Standards and Behaviour contains provisions regarding acceptance of outside appointments and of consultancy engagement following resignation or retirement. The code does not apply to directors or employees in State bodies in the wider public service. I am informed by the National Treasury Management Agency (NTMA) that NTMA employees have notice periods of one or...

Written Answers — Department of Finance: Tax Reliefs (29 Jan 2013)

Michael Noonan: I am informed by the Revenue Commissioners that there is no specific exemption from DIRT for a person in receipt of invalidity pension. However, an exemption does apply to a person who is permanently incapacitated by reason of physical or mental infirmity from maintaining himself or herself and who would be entitled to a refund of the entire amount of DIRT deducted by a Financial Institution....

Written Answers — Department of Finance: Credit Unions Regulation (29 Jan 2013)

Michael Noonan: The statutory basis for the Fitness and Probity regime is the Central Bank Reform Act 2010. The provisions were commenced for credit unions on 24 September 2012 and require Central Bank regulations and a code of practice to be in place before being fully implemented. The Central Bank has informed me that the Fitness and Probity regime for credit unions is undergoing consultation and is set...

Written Answers — Department of Finance: Retail Sector (29 Jan 2013)

Michael Noonan: To date, I have only received notification of the motion passed by Leitrim County Council in relation to the Retail Ireland report. I share the concerns expressed by the elected representatives with regard to the loss of revenue arising from these illegal activities. With regard to action to deal with the illicit trade, I am advised by the Revenue Commissioners that they are mindful of the...

Written Answers — Department of Finance: Insurance Industry (29 Jan 2013)

Michael Noonan: The Deputy should note that the only levy being applied to home, motor and commercial insurance is the 2% Insurance Compensation Fund (ICF) levy which operates under the Insurance Act 1964 and came into effect from 1 January 2012. It is expected to generate €65 million a year and will have to repay the €890 million advanced to date by the Exchequer to the ICF and on which a...

Written Answers — Department of Finance: Public Service Reform Plan Update (29 Jan 2013)

Michael Noonan: The Deputy in his question refers to Appendix IIa of the Public Service Reform Document. In Appendix IIa only one proposal is listed under the heading Department of Finance/Department of Public Expenditure and Reform. That proposal was to merge the Commission on Public Service Appointments (CPSA) with the Ombudsman’s Office. The Department of Public Expenditure and Reform has...

Written Answers — Department of Finance: Ministerial Meetings (29 Jan 2013)

Michael Noonan: I met Mr. Danny McCoy of IBEC on 19 October 2011 and 31 October 2012 to discuss pre-budget issues. I have attended a number of conferences hosted by IBEC, including the Property Industry Ireland Conference and others, where I would have met representatives of IBEC including Mr. McCoy. In addition, officials from my Department have met representatives of IBEC on a number of matters. My...

Written Answers — Department of Finance: NAMA Transactions (29 Jan 2013)

Michael Noonan: I wish to reassure the Deputy that there has been no delay in dealing with the final tranches of loans acquired by NAMA. The Deputy may be aware that following the completion of NAMA’s due diligence of acquired loan assets, the Financial Regulator of Ireland carries out its own independent validation of the transfer process. This was also done in the case of the earlier tranches and...

Written Answers — Department of Finance: EU-IMF Agreement (29 Jan 2013)

Michael Noonan: As at 31 December 2012, the nominal liability of EU-IMF Programme loans amounted to €56.4 billion. Of this, loans from EU sources, including the bilaterals, amounted to €37.4 billion and loans from the IMF amounted to €19 billion. After adjustment for below-par issuance, deduction of a prepaid margin of €530 million, and the effect of foreign exchange...

Written Answers — Department of Finance: State Banking Sector (29 Jan 2013)

Michael Noonan: I have been advised that Anglo Irish Bank Corporation plc is the name of the licensed institution on the banking licence used by IBRC.

Written Answers — Department of Finance: State Banking Sector (29 Jan 2013)

Michael Noonan: IBRC has a banking licence and is regulated by the Central Bank of Ireland. I have been advised that as disclosed previously in the Bank’s published accounts, IBRC is not in full compliance with Irish regulatory requirements because it is an organisation in wind-down. Page 14 of the 2012 Interim Report clearly discloses the following under "Regulatory Compliance Risk":Regulatory...

Written Answers — Department of Finance: State Banking Sector (29 Jan 2013)

Michael Noonan: I have been advised that IBRC was subject to the relevant Central Bank of Ireland approval process at the time of the granting of its licence.

Written Answers — Department of Finance: Tax Reliefs (29 Jan 2013)

Michael Noonan: I propose to take Questions Nos. 277 and 278 together. I announced in the recent Budget my intention to simplify the scheme of tax relief for donations to approved bodies. Details of all of the simplification measures, including those set out by the Deputy were provided in Annex E of the Budget book. I am unable to provide a projected cost for this measure as it is not possible to...

Written Answers — Department of Finance: Tax Reliefs (29 Jan 2013)

Michael Noonan: I propose to take Questions Nos. 279 and 280 together. Donations to charities and other approved bodies qualify for tax relief where the amount donated to any one such body is €250 and above. Previously, self-assessed individuals were able to claim the tax relief due on these donations while charities claimed the relief in respect of donations made by PAYE workers. In the recent...

Written Answers — Department of Finance: Tax Code (29 Jan 2013)

Michael Noonan: I am advised by the Revenue Commissioners that under existing tax legislation a tenant paying rent to a non-resident landlord in respect of property located in the State, is obliged to deduct income tax from the gross rent at the standard rate, which is currently 20%, unless the non-resident landlord is assessable and chargeable to income tax here in the name of a representative in the State....

Written Answers — Department of Finance: Property Taxation (29 Jan 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 provides that a liability for local property tax will arise where a person owns a residential property on the liability date which will be 1 May 2013 for the year 2013 and for subsequent years, 1 November in the preceding year. Where a property is owned by more than one person, joint owners are to be jointly and severally liable for the payment of...

Written Answers — Department of Finance: European Securities Markets Programme (29 Jan 2013)

Michael Noonan: The recently agreed package of measures for Greece is designed to help put its economy on a path to sustainable growth and its domestic finances on a sound footing. This package was agreed in the context of the statement by Euro Area Heads of State or Government that the scale of the Greek problem is so large that it requires special attention. In this regard, on November 26th euro zone...