Michael Healy-Rae
Ceist:102. Deputy Michael Healy-Rae asked the Minister for Finance his views on a matter (details supplied) regarding tracker mortgages; and if he will make a statement on the matter. [50772/17]
Amharc ar fhreagraWednesday, 29 November 2017
Ceisteanna (102)
Freagraí scríofa
The Central Bank has clearly set out its expectations of lenders to provide appropriate redress and compensation to affected customers in its Principles for Redress.
The Principles of Redress provide for a number of different classes of redress payments depending on the harm suffered by individual borrowers. The question of whether a tax liability arises in any given case depends on the specific issues to be redressed and the facts and circumstances of that particular case.
The Principles for Redress sets out that ‘any tax liability that impacted customers may incur as a result of the relevant issue or in respect of any redress, compensation or other payment made to impacted customers by the lender, as a result of the relevant issue, are to be discharged by the lender. The lender is to liaise directly with Revenue in this regard’. The Central Bank has advised me that this includes TRS.