Results 4,961-4,980 of 19,445 for speaker:Brian Cowen

Written Answers — Tax Code: Tax Code (22 Nov 2006)

Brian Cowen: Under the stamp duty code, liability to duty mainly arises where there is a conveyance or transfer of the legal title to certain property. It is the instrument of conveyance that is liable to stamp duty and it requires having a "stamp" impressed thereon. The rates of stamp duty that are applicable to various instruments are set out in Schedule 1 to Stamp Duties Consolidation Act 1999....

Written Answers — Decentralisation Programme: Decentralisation Programme (22 Nov 2006)

Brian Cowen: The Decentralisation Programme envisages the relocation of some 10,600 civil and public servants to more that 50 locations outside of Dublin. By any standards, this represents a major undertaking, involving property procurement, legal, construction, H.R. and operational issues. The Office of Public Works has direct responsibility for the property aspects relating to most of these locations....

Written Answers — Tax Code: Tax Code (22 Nov 2006)

Brian Cowen: I have not instructed the Revenue Commissioners to conduct an estimate of underclaiming of tax reliefs by taxpayers. Revenue advise me that in the current year to the end of October, they have made a total of 485,000 repayments involving an amount of €353 million. This is the factual situation in relation to what has been claimed and it is difficult to speculate about what more might be...

Written Answers — Tax Code: Tax Code (22 Nov 2006)

Brian Cowen: I take it that the Deputy's question relates to stamp duty on residential property. The rate of stamp duty on residential property is dependent on the status of the buyer (first time buyer or owner occupier) and whether the property is new or second hand. Stamp duty is chargeable on the purchase of residential properties greater than €127,000. There are exemptions available for first...

Written Answers — Tax Yield: Tax Yield (22 Nov 2006)

Brian Cowen: I am advised by the Revenue Commissioners that the objectives of their random audit programme are to measure and track compliance with tax legislation, validate Revenue's risk analysis approach and ensure that all taxpayers run the risk of being audited. Revenue further advise me that of 379 random audit cases finalised from their 2005 programme, 277 cases or 73% have had no liability and...

Written Answers — Aer Lingus: Aer Lingus (22 Nov 2006)

Brian Cowen: To date the Exchequer has received €240,902,257.20 from the sale of shares in Aer Lingus. These funds have been lodged to the Exchequer and will be classified as in the Finance Accounts as Capital Receipts.

Written Answers — Tax Code: Tax Code (22 Nov 2006)

Brian Cowen: The position is that charities and non-profit groups engaged in non-commercial activity are exempt from VAT under the EU Sixth VAT Directive, with which Irish VAT law must comply. This means they do not charge VAT on the services they provide and cannot recover VAT incurred on goods and services that they purchase. Essentially only VAT registered businesses which charge VAT are able to...

Written Answers — Financial Services Regulation: Financial Services Regulation (22 Nov 2006)

Brian Cowen: There is no State savings guarantee for savers with Irish credit institutions generally. There is, however, a deposit protection scheme funded by credit institutions (other than credit unions) which are authorised by the Central Bank and Financial Services Authority of Ireland. The Deputy should note that a key principle underlying the operation of the deposit protection scheme is that the...

Written Answers — Tax Yield: Tax Yield (22 Nov 2006)

Brian Cowen: The main consumption related taxes are VAT and Excise duty. Taken together these two tax-heads were forecast to account for €18.6 billion or 45 per cent of total tax revenues in 2006, a very significant proportion of total tax revenues. Construction impacts on a number of tax-heads, most notably capital taxes such as Stamp duty and Capital gains tax but also VAT and to a lesser extent...

Written Answers — Construction Industry: Construction Industry (22 Nov 2006)

Brian Cowen: I am aware of the reports referred to by the Deputy. My Department is not however, aware of this measure as a leading indicator of activity in the construction sector. The Deputy should note that according to the Pre-Budget Outlook published by my Department last month real GNP is projected to increase by 5% in 2007 underpinned by a continued strong performance of the construction sector...

Written Answers — Traffic Management: Traffic Management (22 Nov 2006)

Brian Cowen: The recent study commissioned from the independent firm of consultants, Faber Maunsell, following extensive consultation with interested groups, centres on traffic management in the Phoenix Park. Since the publication of the report my Office has been arranging a series of presentations with residents groups, local authorities, public representatives and other interested parties. The...

Written Answers — Financial Services Regulation: Financial Services Regulation (22 Nov 2006)

Brian Cowen: Credit card companies that fall within the definition of 'credit institutions' for the purposes of the Consumer Credit Act, 1995, must notify the Financial Regulator of any proposal to introduce or increase charges for services as defined in Section 149 of the Act. This encompasses any penalty or surcharge interest imposed in respect of arrears on a credit agreement or a loan, including...

Written Answers — Tax Yield: Tax Yield (22 Nov 2006)

Brian Cowen: My Department currently expects that there will be a gain to income tax in 2007 of approximately €600 million over 2006 arising from the discontinuance of the tax credit contribution to SSIAs and also the exit tax yield from maturing SSIAs. It should be noted that in 2007 the gain arising from the ending of the SSIA scheme will be broadly offset by the cash-flow loss from the ending of the...

Written Answers — Tax Yield: Tax Yield (22 Nov 2006)

Brian Cowen: In 2002, Exchequer tax receipts amounted to €29,294 million. Receipts in 2006 in the October Pre-Budget Outlook were estimated at €43,850 million. This translates into an absolute increase of just over €14.5 billion or a percentage increase of 49.7 per cent since 2002. A large part of the increases in taxes in recent years came from the Revenue Commissioner's special investigations...

Written Answers — Tax Code: Tax Code (22 Nov 2006)

Brian Cowen: The position is that the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under the Sixth VAT Directive Member States may retain the zero rates on goods and services, which have been in place since 1 January 1991, but cannot extend the zero rate to other goods and services. It is therefore not possible under EU law to apply...

Written Answers — Tax Collection: Tax Collection (22 Nov 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 — Ethics in Public Office: Ethics in Public Office (22 Nov 2006)

Brian Cowen: The Deputy will be aware that office holders and members of the Dáil and Seanad may accept a significant gift in only limited circumstances. The Taoiseach and Tánaiste issued statements last month indicating that the Ethics legislation will be amended to require an office holder or member, before accepting a significant gift or loan, to seek the opinion of the Standards in Public Office...

Written Answers — Freedom of Information: Freedom of Information (22 Nov 2006)

Brian Cowen: There are currently over 500 public bodies subject to Freedom of Information. In general, when bodies are being brought within the remit of FOI, extension is in respect of all records held by these bodies in respect of all of their functions. In a certain limited number of cases full extension on this basis may not be appropriate having regard to particular functions or particular records...

Written Answers — Mortgage Credit: Mortgage Credit (22 Nov 2006)

Brian Cowen: I welcome the work of the Mortgage Expert Group which is investigating opportunities to integrate the EU mortgage market. Because of the scale of this market, at €4.7 trillion, and the expectation that the sector is set for significant growth, the removal of barriers which cause fragmentation should lead to improved competition, efficiency and consumer choice, and of course cheaper...

Written Answers — Taxation Policy: Taxation Policy (22 Nov 2006)

Brian Cowen: The Government's approach to tax policy is set out in the Agreed Programme for Government and in recent Budgets and Finance Bills. Furthermore, under the Partnership Agreement, Towards 2016, the Government is committed to a taxation policy designed to maintain and strengthen the competitive position of the economy, foster improvements in productive capacity, economic and social development,...