Results 81-100 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Insurance Industry Regulation (25 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: Illicit Trade in Fuel and Tobacco Products (25 May 2017)

Michael Noonan: I am aware of reports of a recent incident involving the illegal dumping of sludge close to the border with Northern Ireland and recognise the serious threat that fuel fraud poses to legitimate business, consumers and the Exchequer.  I am advised by Revenue that tackling fuel fraud has been one of their priorities over recent years. While it is very disappointing that incidents such...

Written Answers — Department of Finance: Tax Credits (25 May 2017)

Michael Noonan: I am advised by Revenue that for 2013 to 2017 inclusive, the person concerned is in receipt of both the Personal Tax Credit and the PAYE Tax Credit. A PAYE/USC Balancing Statement (P21) for each of years 2013 to 2016 issued to the person concerned on 5 May 2017 setting out her earnings and deductions for each of those years and any overpayment due has been refunded.

Written Answers — Department of Finance: Property Tax (25 May 2017)

Michael Noonan: I propose to take Questions Nos. 90 and 91 together. I engaged Dr. Don Thornhill in 2015 to conduct a review to consider and make recommendations on the operation of the Local Property Tax, in particular, any impacts on LPT liabilities due to recent property price developments. Dr. Thornhill made a number of recommendations in his report on his review of the Local Property Tax. His...

Written Answers — Department of Finance: Revenue Commissioners Resources (25 May 2017)

Michael Noonan: In strengthening our commitment in tackling non-compliance, the 2017 Estimates provided an additional €5 million to Revenue for an additional 50 staff (full time equivalent) for audit and investigation activities, including tackling offshore tax evasion, as well as enhancing ICT systems capacity for data matching and data analytics in tax and duty compliance interventions.  It was...

Written Answers — Department of Finance: Excise Duties Yield (25 May 2017)

Michael Noonan: The Excise Duty on a packet of 20 cigarettes was increased by 50 cents (including VAT) with effect from midnight on 11 October 2016. I am informed by Revenue that the additional Excise and VAT received since 11 October 2016 to end April 2017 is €20.1m. This calculation is based on provisional tobacco clearances and may be subject to revision. The forecast yield in 2017 from the...

Written Answers — Department of Finance: Tax Yield (25 May 2017)

Michael Noonan: I am advised by Revenue that in relation to the Budget 2017 measures, a yield of €50 million was included in Budget 2017. This yield was both conservative and prudent at the time. To estimate the yield from these amendments into the future requires predicting changes in property prices as well as behavioural changes. It is too early for the Department or Revenue to revise the final...

Written Answers — Department of Finance: Banking Sector (25 May 2017)

Michael Noonan: As the Deputy is aware, Government policy is focused on ensuring that all viable small and medium sized businesses have access to an appropriate supply of credit from a diverse range of bank and non-bank sources.  The Deputy will also be aware that, in my role as Minister for Finance, I have no direct function in the relationship between the banks and their customers.  Also, I have...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (24 May 2017)

Michael Noonan: I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to householders and businesses alike, and that is one of the reasons the Government has been prioritising investment in flood defences over the last number of years in order to minimise the risk of flooding. However, the provision of insurance cover and the price at which it is offered is...

Written Answers — Department of Finance: Property Tax Data (24 May 2017)

Michael Noonan: I am advised by Revenue that the most recently available information relating to Local Property Tax (LPT) can be found on the statistics webpage of the Revenue website at , including LPT collected in respect of County Kildare. This includes LPT collected for the years 2013 to 2016 and the first quarter of 2017.

Written Answers — Department of Finance: Motor Insurance Coverage (24 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: Motor Insurance (24 May 2017)

Michael Noonan: In fulfilment of Recommendation 9 in the Action Plan of the Report on the Cost of Motor Insurance, Insurance Ireland set up the consumer and business forum in March and invited relevant stakeholders to the first of its biannual meetings.  This meeting, which was opened by the Minister of State, Eoghan Murphy T.D., took place on May 16 and was attended by representatives from: ...

Written Answers — Department of Finance: Financial Services Ombudsman (24 May 2017)

Michael Noonan: I understand from the Financial Services Ombudsman (FSO) that if a Receiver is appointed by the lender, either before a complaint is made to the FSO, or after the FSO has begun dealing with the matter, the appointment of the Receiver will not impede the mediation, investigation or adjudication of the complaint by the FSO. In that event, the FSO will investigate whether the mortgage deed...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (24 May 2017)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT, up to a certain limit, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a fuel grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Banking Operations (24 May 2017)

Michael Noonan: As the Deputy is aware, I have no role in the day-to-day management or financial reporting of any bank in which the State is a shareholder. The financial reporting obligations, accounting practices and publication of financial results are matters solely for the Board and Management of each institution. AIB produces detailed, externally audited accounts in line with international...

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

Michael Noonan: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive 2016, defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate of 23%. The EU VAT Directive provides, in general, that all goods and services are liable to VAT at the standard rate unless they fall...

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

Michael Noonan: The Strategic Banking Corporation of Ireland is Ireland’s National Promotional Institution; its strategic mission is to deliver effective financial supports to Irish SMEs that address failures in the Irish credit market, while driving competition and innovation and ensuring the efficient use of available EU resources. The European Investment Bank (EIB Group) was one of the...

Written Answers — Department of Finance: Brexit Issues (23 May 2017)

Michael Noonan: I propose to take Questions Nos. 165 and 166 together. I would draw the Deputy's attention to the fact that while according to the latest EIB Group Survey, 13% of firms in Ireland can be considered finance constrained, Ireland does not have the highest proportion in the EU as reported in the same survey. I acknowledge that SMEs are concerned about the negative impact of Brexit on...

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

Michael Noonan: I understand following consultation with the Deputy's office that it is the provision of motor insurance specifically which is being referred to in this question. 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...

Written Answers — Department of Finance: Disabled Drivers Grant Eligibility (23 May 2017)

Michael Noonan: I am advised by Revenue that the person concerned does not qualify under the Drivers/Passengers with Disabilities Scheme as she is not a family member of the person with the disability and does not reside with that person. In order to qualify under the scheme, the applicant must be a family member who resides with the person with the disability and must be responsible for their care and...