Results 4,921-4,940 of 19,445 for speaker:Brian Cowen
- Written Answers — Revenue Commissioners: Revenue Commissioners (22 Nov 2006)
Brian Cowen: I have read the recent newspaper report about the survey. I have also recently met with the Irish Institute of Taxation in the context of the pre-budget submission process where this issue was also raised. Customer surveys can be useful in providing feedback on service delivery. In fact, I am advised that Revenue will shortly publish a survey which it conducted of 2000 SMEs, and from which...
- Written Answers — Tax Code: Tax Code (22 Nov 2006)
Brian Cowen: The question of whether an individual is resident or not-resident in the State for tax purposes is a question of fact, based on the tax legislation. The Residence Rules were last updated by in the 1994 Finance Act following a comprehensive review of the matter by the Revenue Commissioners and my Department. A person is regarded as resident in Ireland for tax purposes in a particular tax year...
- Written Answers — Tax Code: Tax Code (22 Nov 2006)
Brian Cowen: I am informed by the Revenue Commissioners that 116 individuals applied for Personal Fund Thresholds under the provisions of Section 787O Taxes Consolidation Act (TCA), 1997. However, as the Deputy will appreciate the individuals concerned will not be identified for reasons of confidentiality. I am further informed that to date, seventy- six certificates confirming the amount of personal...
- Written Answers — Tax Code: Tax Code (22 Nov 2006)
Brian Cowen: There are a number of schemes of relief from taxation which seek to assist and encourage research and development activity. These include: The deduction for capital or revenue expenditure incurred on scientific research; Capital expenditure on patents can be written off in equal annual instalments over the shorter of 17 years and the life of the asset; Capital expenditure on the acquisition...
- Written Answers — Tax Yield: Tax Yield (22 Nov 2006)
Brian Cowen: Activity in the housing sector impacts primarily on VAT, Stamp duty and Capital gains tax. Housing market activity also impacts on Income tax and PRSI receipts and Corporation tax from construction sector company profits. While revenues from housing market activity such as Stamp duty and Capital gains tax have made an increasing contribution to the Exchequer in recent years, we are not...
- Written Answers — House Prices: House Prices (22 Nov 2006)
Brian Cowen: The Central Bank's recently published Financial Stability Report noted that increases in both house prices and interest rates are contributing to reduced house price affordability. While the Report also shows that estimated mortgage repayments as a percentage of disposable income have varied over the past sixteen years, the current mortgage repayment level on a national basis is less than 35...
- Written Answers — Tax Code: Tax Code (22 Nov 2006)
Brian Cowen: I propose to take Questions Nos. 79, 106 and 152 together. I am advised by the Revenue Commissioners that the most up-to-date estimates of the information requested by the Deputies are as follows: Numbers of income earners on income tax record Year Exempt Paying at 20% or less Paying at greater than 20% Total 2006 776,100 937,700 446,700 2,160,500 35.9% 43.4% 20.7% These figures allow...
- Written Answers — Decentralisation Programme: Decentralisation Programme (22 Nov 2006)
Brian Cowen: I propose to take Questions Nos. 80, 81, 150, 162 and 221 together. I have no plans to review the scale or scope of the decentralisation programme. A progress report by the Decentralisation Implementation Group (DIG) was presented to Government in early October and published on 4th October last. The Group reported that implementation of the Decentralisation Programme is progressing...
- Written Answers — Tax Code: Tax Code (22 Nov 2006)
Brian Cowen: Ireland continues to use the tax system to provide a stimulus to encourage activities that can assist policies promoting sustainable energy and tackling climate change. Details of the relevant tax incentives introduced since 1997 are as follows: Benefit-In-Kind exemption on employer provided public transport tickets to encourage commuters who travel to and from work by car to switch to...
- Written Answers — Tax Code: Tax Code (22 Nov 2006)
Brian Cowen: I am advised by the Revenue Commissioners that, historically, they had treated the supply of corrective spectacles and contact lenses by an optician as a single supply chargeable at the standard rate of VAT (currently 21%). Opticians had, in general, accounted for VAT on the full price for the supply of spectacles and contact lenses. Opticians have always been exempt from VAT in respect of...
- Written Answers — Business Expansion Schemes: Business Expansion Schemes (22 Nov 2006)
Brian Cowen: A review of the Business Expansion Scheme by my Department in conjunction with the Department of Enterprise, Trade and Employment and the Revenue Commissioners is currently being finalised. Any decisions on the scheme's remit will be taken in the light of the objectives of assisting risk investments, the cost of the scheme, the benefits gained and the equity of the reliefs involved. Any...
- Written Answers — Tax Code: Tax Code (22 Nov 2006)
Brian Cowen: Under Section 664 of the Taxes Consolidation Act, 1997, there is an exemption from income tax on leasing of land in respect of the first â¬12,000 of annual leasing income where the leasing is for a period of not less than 5 years and in respect of â¬15,000 where the leasing is for a period of not less than 7 years. The exemptions are available to lessors of agricultural land aged 40 years...
- Written Answers — National Development Plan: National Development Plan (22 Nov 2006)
Brian Cowen: I propose to take Questions Nos. 86, 127, 137, 148 and 216 together. The National Development Plan/Community Support Framework (NDP/ CSF) 2000-2006 was an integrated investment plan and strategy for economic and social development for Ireland. The objectives are to ensure that Ireland maintained its international competitiveness and that our economic success would be shared more equally at...
- Written Answers — Financial Services Regulation: Financial Services Regulation (22 Nov 2006)
Brian Cowen: The Credit Union Act, 1997 provides the legal framework for the regulation of credit unions. The Act was designed to provide the credit union movement with a regulatory structure that reflects and promotes the particular ethos and philosophy of the credit union movement, its strong tradition of volunteer service and the core objective of providing opportunities for saving and lending for...
- Written Answers — Financial Services Regulation: Financial Services Regulation (22 Nov 2006)
Brian Cowen: I have no statutory function in setting the interest rates offered by credit institutions â they are based on commercial criteria in the light of market conditions. Since 1992, the Irish banking market has been open to competition from credit institutions authorised in any EU/EEA Member State. Hence, new entrants to the market from abroad are competing with domestic banks for business in,...
- Written Answers — Tax Code: Tax Code (22 Nov 2006)
Brian Cowen: VRT is a very important source of revenue for the Exchequer providing â¬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 — Financial Services Regulation: Financial Services Regulation (22 Nov 2006)
Brian Cowen: The most recent figures available for the growth in total private-sector credit (PSC) show it grew by 28.1 percent in September, which represents a slight easing in the rate of credit growth over the past number of months. Adjusted mortgage credit growth was 26.9 per cent in September. House mortgage finance comprises the bulk of lending to households and represents approximately 83 per cent...
- Written Answers — Tax Code: Tax Code (22 Nov 2006)
Brian Cowen: The assumptions underpinning the 2006 capital taxes forecasts were based on economic growth estimates in the Stability Programme Update which was published on Budget day, December 2005. These estimates included GNP, projected changes in the consumer price index and developments in the construction sector. The methodology for forecasting capital taxes in 2006 firstly required my Department to...
- Written Answers — Tax Yield: Tax Yield (22 Nov 2006)
Brian Cowen: The following table sets out the net yield from DIRT collected from 1997 to 2006: Year â¬m 1997 187.6 1998 238.7 1999 161.2 2000 386.0* 2001 228.0 2002 206.5 2003 153.3 2004 143.6 2005 167.1 2006 254.0 2006 (to end October) * The figure quoted for 2000 includes â¬215.7 million which was a result of the DIRT look-back audits. The amount of DIRT due to be paid each year is...
- Written Answers — Tax Yield: Tax Yield (22 Nov 2006)
Brian Cowen: As the Deputy is aware, the Exchequer Returns to end-October were published on my Department's website on 2nd November. The Exchequer Returns to end-October showed a deficit of â¬346 million, compared with a deficit of â¬1,291 million for the same period last year and a Budget Day forecast of an Exchequer Deficit of â¬2,927 million for 2006 as a whole. Tax receipts to end-October, at...