Results 281-300 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Insurance Costs (9 May 2017)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Customs and Excise Protocols (9 May 2017)

Michael Noonan: The procedure for applying for relief from customs duties and VAT on transferring residence to Ireland can be found at  and the procedures relating specifically to relief from VRT are at . The information supplied on the revenue website is primarily designed for persons who are moving house, with considerable belongings being shipped rather than carried as luggage.  In most such...

Written Answers — Department of Finance: Tax Reliefs Data (9 May 2017)

Michael Noonan: I am advised by Revenue that the number of mortgage holders in receipt of tax relief at source in respect of mortgage interest for the year 2016, the latest year for which data are available, is in the order of 419,400 claimants. The provisional cost to the Exchequer in 2016 for such claimants is €184.2 million. A forecast for 2017 is not available. In my Budget speech...

Written Answers — Department of Finance: Banking Operations (9 May 2017)

Michael Noonan: I understand that the accounting rules around income recognition are covered primarily under International Accounting Standard IAS 18 which requires that the following conditions are met before income can be recognised: - it is probable that any future economic benefit associated with the item of revenue will flow to the entity, and - the amount of revenue can...

Written Answers — Department of Finance: Motor Insurance (9 May 2017)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Financial Services Sector (9 May 2017)

Michael Noonan: There is no agreement on its precise meaning of the term “vulture funds” and it has come to have pejorative connotations. I presume that the Deputy intends referring to private equity funds. The Deputy will be aware that international private equity funds invested much needed capital in our economy during a period of high risk and uncertainty. Central Bank data published on 16...

Written Answers — Department of Finance: Tax Reliefs Data (9 May 2017)

Michael Noonan: I propose to take Questions Nos. 156 and 157 together. I am advised by Revenue that for each of the years 2012, 2013 and in 2014 (the most recent year for which figures have been published) the table sets out the number of persons who availed of the special assignee relief programme (SARP) and the total cost of the programme. Year Claimants Total Claimed €,000 2012 11 100 2013 121...

Written Answers — Department of Finance: Insurance Costs (9 May 2017)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This...

Written Answers — Department of Finance: Environmental Schemes (9 May 2017)

Michael Noonan: A number of supports already exist to incentivise the purchase of hybrid and electric vehicles, such as relief from vehicle registration tax and, in the case of electric vehicles, a grants towards the cost of such vehicles.  Any new initiatives aimed at introducing policies to address emerging issues are considered as part of the annual Budget process.  This process starts with the...

Written Answers — Department of Finance: Insurance Industry (9 May 2017)

Michael Noonan: Setanta Insurance was placed into liquidation by the Malta Financial Services Authority in April 2014 and this liquidation is being carried out under Maltese law. Progress in the liquidation has been delayed due to court proceedings in the case of Law Society of Ireland v the Motor Insurers' Bureau of Ireland (MIBI). The focus of the court action is to...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (9 May 2017)

Michael Noonan: The Ireland Strategic Investment Fund (ISIF) holds the AIB shares on behalf of the State. Dividend payments are therefore made to the ISIF. Payments from the ISIF to the Exchequer arising from the proceeds of the disposal of the State's shareholdings in the Banks are provided for under the NTMA (Amendment) Act 2014. This legislation allows the Minister to direct...

Written Answers — Department of Finance: Revenue Commissioners Audits (9 May 2017)

Michael Noonan: I propose to take Questions Nos. 162 and 163 together. Revenue is a fully integrated tax and customs administration. Revenue has approximately 2,000 staff engaged on activities that focused on confronting non-compliance. These activities include anti-smuggling and anti-evasion, investigation and prosecution, audit, assurance checks, anti-avoidance, returns compliance and debt collection...

Written Answers — Department of Finance: Motor Insurance Coverage (9 May 2017)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept. This position is...

Written Answers — Department of Finance: Tax Credits (4 May 2017)

Michael Noonan: I am advised by Revenue that a Costs of Tax Expenditures Table is available on the Revenue Statistics webpage at. This table provides an annual breakdown of the numbers availing of the credit and the cost to the Exchequer for the ‘Blind Person's or Civil Partners Credit (including Guide Dog Allowance)' for each of the years 2004 to 2014, the latest year for which data are...

Written Answers — Department of Finance: Central Bank of Ireland Enforcement Actions (4 May 2017)

Michael Noonan: I am advised by the Central Bank that its investigation into designated persons' compliance with anti-money laundering ("AML") and countering the financing of terrorism ("CFT") preventative obligations set out in Criminal Justice Act 2010 (CJA 2010) was conducted under the Central Bank's Administrative Sanctions Procedure (ASP) as per Part IIIC of the Central Bank Act 1942. For the...

Written Answers — Department of Finance: Stability Programme Data (4 May 2017)

Michael Noonan: The Economic Policy Committee (EPC), an official level EU Committee, undertakes an assessment every three years reviewing the impact of long-term demographic trends on the public finances of Member States. Table 21 on page 43 of the Stability Programme Update, published on May 2nd, sets out the long-term expenditure projections as published in the 2015 Ageing Report, under 5 broad headings;...

Written Answers — Department of Finance: Motor Insurance (4 May 2017)

Michael Noonan: I propose to take Questions Nos. 84 to 88, inclusive, together. The recommendations in the Report on the Cost of Motor Insurance are being progressed in accordance with the Action Plan contained in the Report. The first quarterly progress update in respect of the implementation of the recommendations is now available on the Department of Finance website, under the Insurance Policy...

Written Answers — Department of Finance: Motor Insurance (4 May 2017)

Michael Noonan: I propose to take Questions Nos. 89 and 90 together. I propose to take PQ's 89 and 90 together which deal with Recommendation 11 (Establish a National Claims Information Database) and Recommendation 12 (Quarterly Publication of Key Aggregated Metrics, on Claims, Costs and Trends within the Market). The recommendations in the Report on the Cost of Motor Insurance are being progressed...

Written Answers — Department of Finance: Motor Insurance (4 May 2017)

Michael Noonan: The recommendations in the Report on the Cost of Motor Insurance are being progressed in accordance with the Action Plan contained in the Report.  The first quarterly progress update in respect of the implementation of the recommendations is now available on the Insurance Policy section of the Department of Finance’s website. This update shows the progress to date on the...

Written Answers — Department of Finance: Motor Insurance (4 May 2017)

Michael Noonan: I propose to take Questions Nos. 92 to 98, inclusive, together. The recommendations in the Report on the Cost of Motor Insurance are being progressed in accordance with the Action Plan contained in the Report.  The first quarterly progress update in respect of the implementation of the recommendations is now available on the Insurance Policy section of the Department of...