Results 4,621-4,640 of 19,445 for speaker:Brian Cowen

Written Answers — Financial Services Regulation: Financial Services Regulation (18 Oct 2006)

Brian Cowen: In general, non-deposit taking lenders are not currently subject to authorisation or prudential supervision by the Financial Regulator. However, the question of the appropriate regulation and supervision of non-deposit taking mortgage lenders is currently under examination in consultation with the Financial Regulator. As the Deputy may be aware, consumer credit including hire purchase and...

Written Answers — Site Acquisitions: Site Acquisitions (18 Oct 2006)

Brian Cowen: I propose to take Questions Nos. 147 and 179 together. Negotiations for the purchase of the Battle of the Boyne site were conducted by the Commissioners of Public Works. The Department of Finance sanctioned the expenditure of £7.85m (€9.97m) on the purchase of the property, which was completed in August 2000.

Written Answers — Debt Levels: Debt Levels (18 Oct 2006)

Brian Cowen: As the Deputy will be aware, within the implementation of the overall legislative framework, private sector credit growth and debt levels are, in the first instance, a matter for the Central Bank and Financial Services Authority of Ireland. This follows from its role as part of the European System of Central Banks and its functions, as the Financial Regulator, in relation to the prudential...

Written Answers — Tax Yield: Tax Yield (18 Oct 2006)

Brian Cowen: While the overall share of tax as a percentage of GNP may have remained steady, the important point is that the change in composition of that tax revenue shows a greater take from property and corporate income and a decline in the income tax burden especially on the lower paid. Thus the effective rate on property and corporate income has gone up and the effective rate on the ordinary person's...

Written Answers — Tax Policy: Tax Policy (18 Oct 2006)

Brian Cowen: VRT is a very important source of revenue for the Exchequer providing €1.15 billion or 2.9% of total net tax receipts for 2005. It is a valuable source of funds given this Government's strategy of reducing other taxes such as income tax and increasing the level of funding for vital public services such as health and education. Consequently, any changes to the current system would require...

Written Answers — Departmental Bodies: Departmental Bodies (18 Oct 2006)

Brian Cowen: I am informed by the Revenue Commissioners that there have been 57 meetings of the Hidden Economy Monitoring Group since its commencement in 1990. The dates of the most recent meetings are as follows: 24th. February 2000 3rd. May 2000 20th. June 2000 12th. September 2000 30th. November 2000 1st. February 2001 19th. April 2001 29th. November 2001 21st February 2002 18th. November 2002 19th....

Written Answers — Tax Code: Tax Code (18 Oct 2006)

Brian Cowen: I presume the Deputy is referring to the letter of Reasoned Opinion received from the EU Commission on the 4th of July 2006. Under EU Law, with which Irish Law must comply, public bodies are generally exempt from VAT. This means that they do not charge VAT on the services and are not entitled to recover VAT incurred on the goods and services which they purchase. In December 2004, the...

Written Answers — Tax Code: Tax Code (18 Oct 2006)

Brian Cowen: A scheme of capital allowances for expenditure incurred on the construction and refurbishment of qualifying mental health centres was introduced by me in this year's Finance Act. The tax relief scheme has not yet commenced as aspects of it require the commencement of legislation and the preparation of regulations by my colleague, the Minister for Health and Children, Ms Mary Harney TD. I...

Written Answers — Job Creation: Job Creation (18 Oct 2006)

Brian Cowen: The Deputy may be mistaken as regards the quotation on job creation resulting from the Strategy. What I have said is that since 1997 over half a million new jobs have been created. As regards the Government's Research & Development Strategy, this is a matter in the first instance for my colleague the Minister for Enterprise, Trade and Employment and his Department, including ensuring that...

Written Answers — Tax Yield: Tax Yield (18 Oct 2006)

Brian Cowen: I am informed by the Revenue Commissioners that the information to be furnished on VAT returns does not require the yield from particular products to be identified. However, based on clearances of auto diesel on which excise duty has been paid it is estimated that the amount of VAT generated on sales in the first nine months of 2006 was €41.5 million. The VAT treatment of auto diesel is in...

Written Answers — Construction Industry: Construction Industry (18 Oct 2006)

Brian Cowen: I propose to take Questions Nos. 156 and 164 together. The construction sector has performed very strongly over recent years, particularly as regards housing. Housing supply has been increasing in response to high levels of demand, which, in turn, have been underpinned to a considerable extent by a range of fundamental demographic and economic factors. Total housing output reached an...

Written Answers — Tax Code: Tax Code (18 Oct 2006)

Brian Cowen: There is no system of prior application and approval under the scheme of tax relief for the construction or refurbishment of registered nursing homes. When the relevant facilities have been completed, and provided they meet the necessary criteria, investors can then claim tax relief on the expenditure incurred under the scheme in their annual income tax returns as part of the self-assessment...

Written Answers — Financial Services Regulation: Financial Services Regulation (18 Oct 2006)

Brian Cowen: In my role as Minister for Finance I am responsible for the statutory framework for the regulation of the financial services sector. The Financial Regulator is, however, statutorily independent of me in performing its functions. The Financial Regulator meets with various statutory bodies on an ongoing basis to foster better working relationships and to share legally permissible information in...

Written Answers — Tax Code: Tax Code (18 Oct 2006)

Brian Cowen: I propose to take Questions Nos. 160 and 171 together. The Pensions Incentive Tax Credits scheme was introduced by me to encourage SSIA holders, particularly those on low incomes, to continue the savings habit and to commence or improve their pension arrangements under the scheme. For each €3 of matured SSIA funds invested by an eligible SSIA holder in an approved pension product, the...

Written Answers — Aer Lingus Privatisation: Aer Lingus Privatisation (18 Oct 2006)

Brian Cowen: This question was answered by my colleague the Minister for Transport, Martin Cullen TD, in his response to Question No. 439 on 10th October last. I would refer the Deputy to that reply.

Written Answers — Proposed Legislation: Proposed Legislation (18 Oct 2006)

Brian Cowen: The Standards in Public Office Commission (the Standards Commission) has been in existence since December 2001. It replaced the Public Offices Commission which was established in November 1995. I am satisfied that the powers of the Standards in Public Office Commission, as they stand, are ample to meet public concerns in the field of standards in public life. I feel it is reasonable that at...

Written Answers — Financial Services Regulation: Financial Services Regulation (18 Oct 2006)

Brian Cowen: I am advised by the Revenue Commissioners that they are conducting their investigation into the use by taxpayers of life assurance investment products for the purposes of tax evasion in two stages. In the first stage of these enquiries taxpayers who invested undisclosed and undeclared funds in life assurance investment products were given an opportunity to make a voluntary disclosure. About...

Written Answers — Tax Yield: Tax Yield (18 Oct 2006)

Brian Cowen: I am informed by the Revenue Commissioners that the information to be furnished on VAT returns does not require the yield from particular products to be identified. However, based on clearances of petrol on which excise duty has been paid it is estimated that the amount of VAT generated on sales in the first nine months of 2006 was € 323.5 million. The VAT treatment of petrol is in...

Written Answers — Tax Yield: Tax Yield (18 Oct 2006)

Brian Cowen: The stamp duty yield from residential properties in 2005 amounted to €945m. The stamp duty yield from residential property in the period January-August 2006 was €810m. The equivalent figure for the same period in 2005 was €574m.

Written Answers — Tax Collection: Tax Collection (18 Oct 2006)

Brian Cowen: The Deputy will be aware from the report of the Comptroller and Auditor General that arrears of tax and duty amount to €1,085m as at 31st March 2006. Of the debt of €1,085m, €253m is under appeal and not currently available for collection. €184m is under control, generally through agreed instalment arrangements where the taxpayer/business is given additional time to pay. €435m is...