Results 101-120 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Rebates (23 May 2017)

Michael Noonan: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: VAT Rebates (23 May 2017)

Michael Noonan: Irish VAT law does not provide for a VAT rebate for diesel or petrol.  The different treatment of VAT as regards petrol and diesel relates to the VAT input deductibility entitlement of VAT registered taxpayers.  Businesses who make supplies that are charged to VAT are entitled to claim input VAT on their business expenses.  VAT registered persons are entitled to claim the...

Written Answers — Department of Finance: Pension Levy (23 May 2017)

Michael Noonan: I take it the Deputy is referring to the stamp duty levies applying to the assets of funded pension arrangements introduced in 2011 to pay for the Jobs Initiative, the chargeable persons for which are the trustees of pension schemes and others responsible for the management of pension fund assets. The stamp duty levy on pension schemes was introduced in the wake of the financial crash...

Written Answers — Department of Finance: Tax Code (23 May 2017)

Michael Noonan: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: VAT Rebates (23 May 2017)

Michael Noonan: I am informed by Revenue that the information available to Revenue does not allow petrol cars purchased by businesses as company cars to be separately identified on tax records. Therefore, it is not possible to furnish an estimate of the cost to the Exchequer of the scheme suggested by the Deputy.

Written Answers — Department of Finance: Small and Medium Enterprises Supports (23 May 2017)

Michael Noonan: The Department of Finance does not have access to loan or firm level credit data. However, the Central Bank of Ireland’s SME Market Report which is published on their website aims to collate information from a range of internal and external sources to give an up-to-date picture of developments in the Irish small and medium enterprise (SME) credit market. The report provides...

Written Answers — Department of Finance: Banking Sector Regulation (23 May 2017)

Michael Noonan: Crowdfunding is an innovative, technology-based form of finance that can be a valuable source of funding for SMEs, either as a complement, or as an alternative, to traditional bank finance. Crowdfunding also provides consumers and small investors with access to investment opportunities that offer a higher rate of return, at a higher risk, than is generally available from traditional credit...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (23 May 2017)

Michael Noonan: The Strategic Banking Corporation of Ireland began lending in March 2015. Its purpose is to make sustainable, flexible and appropriately priced finance available to viable Irish SMEs and support investment in them that encourages growth and facilitates employment across the whole country. The SBCI uses an on-lending model; this means it does not lend directly to SMEs, rather it lends through...

Written Answers — Department of Finance: Money Laundering (23 May 2017)

Michael Noonan: Article 30 of the 4th Anti-Money Laundering Directive (4AMLD) requires Member States  to ensure that corporate and other legal entities incorporated within their territory  obtain and hold adequate, accurate and current information on their beneficial ownership, including details of the beneficial interests held. It also requires the above mentioned entities to transmit their...

Written Answers — Department of Finance: Stamp Duty (23 May 2017)

Michael Noonan: I am advised by Revenue that stamp duty would generally be payable on a foreign company’s acquisition of Irish-situated property.  When submitting the stamp duty return to Revenue in respect of the acquisition of such property, the foreign company would return the amount of the consideration paid for its acquisition of the property. However, in practice, stamp duty is not...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (23 May 2017)

Michael Noonan: There are two stages involved in the Help to Buy Incentive process. Stage 1 is the application stage, wherein prospective applicants can query whether they qualify for the incentive. They can also get clarity on the maximum amount of rebate they could potentially benefit from, based on their tax paid in a four-year period. Stage 2 is the claims stage, wherein applicants...

Written Answers — Department of Finance: IBRC Liquidation (23 May 2017)

Michael Noonan: I propose to take Questions Nos. 180 to 182, inclusive, together. In February 2013 Kieran Wallace and Eamonn Richardson of KPMG were appointed by me in my role as Minister for Finance as Special Liquidators of IBRC and were tasked with managing the winding-up of the institution, this process is on-going. The Special Liquidators are obliged to comply with the instructions given...

Written Answers — Department of Finance: Mortgage Transfers (23 May 2017)

Michael Noonan: The Central Bank has advised me that where mortgage credit providers choose to adhere to the Code of Practice on the transfer of mortgages, they may provide borrowers with a range of information relating to a proposal to transfer their mortgages to another lender. Such information could include: - the name and address of the intended transferee; - the relationship, between the mortgage...

Written Answers — Department of Finance: Insurance Industry (23 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: Living City Initiative (23 May 2017)

Michael Noonan: As the Deputy will be aware, the Living City Initiative was enacted in the Finance Act 2013 and commenced on 5th May 2015. The Initiative was extended beyond the original planned pilot cities of Limerick and Waterford, to include the cities of Dublin, Cork, Galway and Kilkenny. In line with my Department's commitment to evidence based policy-making, the inclusion of these additional four...

Written Answers — Department of Finance: Central Bank of Ireland Staff (23 May 2017)

Michael Noonan: I am informed by the Central Bank that the total headcount as at end December 2016 was 1,599 full time equivalents, against an approved complement of 1,695. The Bank is engaged in recruitment on an on-going basis and the Governor has previously indicated that the Bank has the ability to effectively re-prioritise where it needs to.  I am satisfied that the Bank has the...

Written Answers — Department of Finance: Central Bank of Ireland (23 May 2017)

Michael Noonan: The Central Bank's total operating cost for 2015 was €230.3 million. Full details of operating expenses can be found in the Central Bank's Annual Report 2015, available at the following link:

Written Answers — Department of Finance: Banking Sector Data (23 May 2017)

Michael Noonan: I have no role in terms of the total amount of revenue earned by the domestic banks. The information in question should be available from the published accounts of the banks in question.

Written Answers — Department of Finance: Banking Sector Data (23 May 2017)

Michael Noonan: I propose to take Questions Nos. 189 and 190 together. In 2015 AIB reported a Profit Before Tax of €1,914 million. Net Interest Income was €1,927 million, Other Income (which would include fees) was €696 million while total costs were €1,296 million. The bank also reported a credit provision write-back of €923 million in 2015. Gross Loans to Customers at...

Written Answers — Department of Finance: Insurance Industry Regulation (23 May 2017)

Michael Noonan: As Minister for Finance, I have responsibility for the development of the legal framework governing financial regulation in Ireland, including the regulatory environment for life and non-life insurance.  The legal and regulatory framework for the provision of life insurance, non-life insurance and reinsurance in the European Economic Area (EEA), and the supervision of that activity,...