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

Written Answers — Department of Finance: Protected Disclosures (2 May 2017)

Michael Noonan: I propose to take Questions Nos. 247 to 249, inclusive, together. New protections for persons making protected disclosures to the Central Bank came into force on 1 August 2013. This also introduced new obligations on certain categories of persons in regulated firms to disclose breaches of financial services legislation to the Central Bank. The Central Bank has established a...

Written Answers — Department of Finance: Tax Collection (2 May 2017)

Michael Noonan: I propose to take Questions Nos. 250 and 251 together. I am advised by Revenue that there are two important dates that are relevant for the taxation of a gift or an inheritance via Capital Acquisitions Tax (CAT). These dates are used for different purposes and are mutually exclusive. Firstly, the date of a gift or, in the case of an inheritance, the date of the death of a disponer, is...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (2 May 2017)

Michael Noonan: I propose to take Questions Nos. 252 and 253 together. There have been no changes made to the Drivers/Passengers with Disabilities Scheme. The term “family member” is not defined in the legislation governing the scheme and, consequently, the CAT legislation is used as a guideline. However, an application by a “family member” not covered under the CAT...

Written Answers — Department of Finance: Tracker Mortgages Examination (2 May 2017)

Michael Noonan: The Central Bank has advised that it does not have the statutory power to set compensation levels or to compel lenders to implement redress and compensation programmes in respect of failures that occurred prior to the introduction of the Central Bank (Supervision and Enforcement) Act 2013. As part of the Examination framework, where customer detriment is identified, the Central Bank has...

Written Answers — Department of Finance: Tracker Mortgages Examination (2 May 2017)

Michael Noonan: The Tracker Mortgage Examination is the largest, most complex and significant supervisory review that the Central Bank has undertaken to date in the context of its consumer protection mandate, involving a review of more than two million mortgage accounts by lenders. The Central Bank framework for the Tracker Mortgage Examination requires lenders to review all mortgage accounts, including...

Written Answers — Department of Finance: VAT Rate Application (2 May 2017)

Michael Noonan: I am advised by Revenue that the VAT Consolidation Act 2010 (as amended) provides that professional medical care services recognised as such by the Department of Health and Children are exempt from Value Added Tax. Professional medical care services recognised by the Department of Health and Children are generally those medical care services supplied by health professionals who are...

Written Answers — Department of Finance: Tracker Mortgages Examination (2 May 2017)

Michael Noonan: PTSB has provided me with the following information in response to the Deputy’s question: “Two appeals panels were established in 2015 as an integral part of the Mortgage Redress Programme (MRP) which Permanent TSB Group established to address the issue of 1,372 customers who had been impacted by a failure in relation to their mortgage accounts at the Bank or at its subsidiary,...

Written Answers — Department of Finance: Tax Code (2 May 2017)

Michael Noonan: As outlined in Budget 2017, it is my intention to introduce a tax on sugar-sweetened drinks in April 2018, which will coincide with the introduction of a similar tax in the UK at that time. Officials from my Department are in contact with their UK counterparts to ensure, once introduced, the tax operates efficiently, fairly and effectively. In general I am opposed to ring-fencing...

Written Answers — Department of Finance: Motor Insurance Coverage (2 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: Brexit Issues (2 May 2017)

Michael Noonan: The Government's headline priorities in response to Brexit are well known – minimising the impact on trade and the economy; protecting the Northern Ireland Peace Process; maintaining the Common Travel Area; and influencing the future of the European Union. It is quite clear that there are major challenges ahead, for the EU, the UK and for Ireland. The position in relation to the...

Written Answers — Department of Finance: Brexit Issues (2 May 2017)

Michael Noonan: I am advised by Revenue that they, like all Government Departments, have a dedicated Brexit Unit headed by an Assistant Secretary. As the issues arising from Brexit involve many areas of Revenue’s work, the role of the dedicated Brexit Unit (currently 9 full-time equivalents) is to draw together the expertise from relevant specialist areas and provide advice for Government, while...

Written Answers — Department of Finance: Interest Rates (2 May 2017)

Michael Noonan: The primary objective of the European Central Bank (ECB) is to maintain price stability within the euro area by implementing monetary policy which is consistent with an inflation rate of below, but close to, 2 per cent over the medium term. As part of this mandate, in accordance with Article 127(2) of the Treaty on the Functioning of the European Union, the ECB has the sole responsibility...

Written Answers — Department of Finance: Tax Data (2 May 2017)

Michael Noonan: The total amounts of tax written out each year are documented in Revenue’s Annual Report. For the Deputy’s information the various Annual Reports are available on the Revenue website at . The details of tax written out each year are provided to the Comptroller & Auditor General for examination and are also examined internally by Revenue’s own Internal Audit Unit....

Written Answers — Department of Finance: Vehicle Registration (2 May 2017)

Michael Noonan: Firstly, I would like to clarify the background. The EU Commission have purported that Ireland has not fulfilled its obligations under Article 56 (freedom to provide services) of the Treaty on the Functioning of the European Union due to the Vehicle Registration Tax (VRT) treatment of vehicles that are brought into the State on a temporary basis. The Case was heard in the Grand Chamber...

Written Answers — Department of Finance: Insurance Industry (2 May 2017)

Michael Noonan: The Cost of Insurance Working Group, chaired by Minister of State Eoghan Murphy T.D., finalised its Report on the Cost of Motor Insurance in December 2016 and it was published on 10 January 2017. The Report makes 33 recommendations with 71 associated actions to be carried out in agreed timeframes, which are set out in an Action Plan. Work is ongoing on the implementation of the...

Written Answers — Department of Finance: Tax Rebates (2 May 2017)

Michael Noonan: I am informed by Revenue that the cost of claims for tax relief on health expenses to 2014, the most recent tax year for which data are currently available, is located on the Revenue Commissioners’ webpage at . Updates will be published in due course. On the basis of the cost to the Exchequer in 2014 of €145.9m, it is estimated that the additional cost of increasing the rate of...

Written Answers — Department of Finance: Motor Insurance (2 May 2017)

Michael Noonan: I am aware of the recent public revelation that the number of roadside drink-driving breathalyser tests undertaken nationally between 2011 and early 2016 has been exaggerated by An Garda Síochána.  However, I am not aware of any evidence that shows these exaggerated numbers have had an impact on the increases that have been seen in the general cost of motor...

Written Answers — Department of Finance: Motor Insurance (2 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: Road Tolls (2 May 2017)

Michael Noonan: Employees may claim a tax deduction in respect of (a) the cost of travelling expenses necessarily incurred in the performance of the duties of their employment or office; and (b) the cost of other expenses incurred wholly, exclusively and necessarily in the performance of the duties of their employment. However, these deductions do not ordinarily include the cost of travelling to and...

Written Answers — Department of Finance: Motor Insurance Regulation (2 May 2017)

Michael Noonan: The Cost of Insurance Working Group, chaired by Minister of State Eoghan Murphy T.D., finalised its Report on the Cost of Motor Insurance in December 2016 and it was published on 10 January 2017. The Report makes 33 recommendations with 71 associated actions to be carried out in agreed timeframes, which are clearly set out in an Action Plan. 45 of these action points are due to be...