Results 6,581-6,600 of 19,445 for speaker:Brian Cowen

Written Answers — Tax Code: Tax Code (16 Oct 2007)

Brian Cowen: The Deputy will be aware that there have been no decisions taken at the level of the Council of Ministers on the harmonisation of corporate tax throughout the EU. However, a technical working group, chaired by the Commission, is working on a proposition for a Common Consolidated Corporate Tax Base. The Commission has not itself completed an assessment of the issues involved here, but we...

Written Answers — State Agencies: State Agencies (16 Oct 2007)

Brian Cowen: I am aware of the concern expressed by the Ombudsman. My Department is currently preparing an Ombudsman (Amendment) Bill 2007 to widen the Ombudsman's remit and update the existing Ombudsman legislation, and is in consultation with all Government Departments about the list of bodies to be included. Publication of the Bill is expected towards the end of the current Dáil session.

Written Answers — Decentralisation Programme: Decentralisation Programme (16 Oct 2007)

Brian Cowen: As part of the overall decentralisation programme, it is intended that 100 staff of the Public Appointments Service (PAS) and 100 staff of the Valuation Office will be decentralised to Youghal, Co Cork. I am advised by PAS and the Valuation Office that the number of people who have indicated their desire to decentralise with these offices is 104 and 28 respectively. In accordance with the...

Written Answers — Tax Code: Tax Code (16 Oct 2007)

Brian Cowen: The stamp duty on cheques, bills of exchange and promissory notes has existed for many years. When electronic means of money transfers were subsequently introduced, stamp duty was gradually extended to these products to ensure that the stamp duty from cheques was not eroded. The current annual rates of stamp duty are as follows: â'¬ Credit card or charge card account 40 ATM card...

Written Answers — Pension Provisions: Pension Provisions (16 Oct 2007)

Brian Cowen: The Deputy will recall that my Department's projections of future pension liabilities were published in the Stability Programme Update of last December and presented to the Dáil on Budget Day. The Government's Green Paper on Pensions, which will be launched tomorrow, updates these projections to take account of more recent developments, including Programme for Government commitments in this...

Written Answers — Financial Services Regulation: Financial Services Regulation (16 Oct 2007)

Brian Cowen: The Irish League of Credit Unions (ILCU) has since 1989, operated a savings protection scheme (SPS) for credit unions. The SPS aims to protect the individual savings of members by ensuring that credit unions are financially and administratively sound and provides for savings protection for each individual credit union member. It is important to note that no member of a credit union has...

Written Answers — Tax Code: Tax Code (16 Oct 2007)

Brian Cowen: In Budget 2007, I announced that it was planned to introduce changes to the current VRT system to take greater account of environmental issues, and in particular Carbon Dioxide (CO2) emissions. The Programme for Government re-affirms the commitment to introduce measures to further weight VRT in favour of cars with lower emissions. A public consultation in this regard has taken place. Work on...

Written Answers — Tax Collection: Tax Collection (16 Oct 2007)

Brian Cowen: The information requested by the Deputy in a format which presents the data in terms of the numbers who are actually paying tax at the higher rate is set out in the table. Tax year Exempt (Standard rate liability fully covered by credits or Age Exemption Limits) Paying tax at the standard rate (including those whose liability at the higher rate is fully offset by credits) Higher rate...

Written Answers — Financial Services Regulation: Financial Services Regulation (16 Oct 2007)

Brian Cowen: I propose to take Questions Nos. 109 and 124 together. I have already announced my intention to propose an amendment to the Markets in Financial Instruments and Miscellaneous Provisions Bill 2007, at Committee Stage this week, with a view to regulating the non-deposit taking lending sector. The text of the amendment has already been circulated. The main aim of the proposed measures is to...

Written Answers — Tax Code: Tax Code (16 Oct 2007)

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 VAT Directive Member States may only apply the reduced VAT rate to those goods and services which are listed under Annex III of the VAT Directive. As Annex III does not list the supply of road safety products, the rate that can applies to such...

Written Answers — Tax Yield: Tax Yield (16 Oct 2007)

Brian Cowen: Exchequer tax receipts to end-September were, at €31,462 million, €490 million or 1.5 per cent below profile. They were up 6.1 per cent on the same period last year. Corporation tax and income tax were both ahead of target, at +€296 million and +€56 million above profile respectively, reflecting the health of the economy generally. The other main tax-heads were all below profile....

Written Answers — Tax Yield: Tax Yield (16 Oct 2007)

Brian Cowen: While taxes are likely to be below target this year, reflecting developments in some taxes, such as stamp duty, it must be remembered that we expect to collect over €48 billion in overall tax revenue this year, around 51⁄2 per cent up on last year's very strong performance. This significant level of tax revenue will enable the Government to continue to make adequate provision for...

Written Answers — Pension Provisions: Pension Provisions (16 Oct 2007)

Brian Cowen: I assume that the Deputy is referring to the application of Financial Reporting Standard 17 — known as FRS 17 — that requires annual accounts to show the total accrued value of future pension liabilities in respect of staff. FRS 17 is applied through-out the private sector and in the accounts of all commercial State bodies. In the public service, FRS 17 does not arise in the case of...

Written Answers — Capital Investment Framework: Capital Investment Framework (16 Oct 2007)

Brian Cowen: Compliance with the capital investment framework is of course a matter in the first instance for implementing Departments and Agencies in respect of their capital expenditure. Under the conditions of sanction for capital expenditure issued by my Department, Departments are required to put in place a system of annual spot-checks of projects to ensure compliance with the VFM requirements and...

Written Answers — Tax Yield: Tax Yield (16 Oct 2007)

Brian Cowen: I propose to take Questions Nos. 116 and 131 together. The relatively high level of new housing investment as a percentage of GNP in recent years reflects the increase in the housing stock that was required to address the demand for housing. Ireland still has a housing stock below the Western European average. At Budget time, my Department did anticipate an easing in new housing output from...

Written Answers — Social Finance Foundation: Social Finance Foundation (16 Oct 2007)

Brian Cowen: On 8 February 2007 I launched the Social Finance Foundation to implement the Social Finance Initiative announced in Budget 2006. The Foundation has been established on a not-for-profit basis to act as a wholesale supplier of social finance for on-lending by specialist social finance lenders to support social and developmental projects and social enterprise in local communities. The...

Written Answers — National Development Plan: National Development Plan (16 Oct 2007)

Brian Cowen: I propose to take Questions Nos. 118 and 171 together. The Capital Appraisal Guidelines of February 2005 as amended by the Value for Money (VFM) circular of February 2006 provide for a comprehensive system of project selection, appraisal and management. All capital projects are subject to project appraisal, with the nature and extent of the appraisal being related to the type and value of the...

Written Answers — Proposed Legislation: Proposed Legislation (16 Oct 2007)

Brian Cowen: I propose to take Questions Nos. 119 and 125 together. The Standards in Public Office Act 2001 already allows the Standards in Public Office Commission to carry out 'own initiative" investigations, where it considers it appropriate to do so, on "specified acts" and on breaches of other provisions of the Ethics legislation, by persons in its area of responsibility, and as provided for by the...

Written Answers — Tax Code: Tax Code (16 Oct 2007)

Brian Cowen: As indicated to the Deputy in reply to a previous question from him, the position is that in accordance with the provisions of section 469 of the Taxes Consolidation Act 1997, "hospital" means:— (a)any institution which is provided and maintained by the Health Service Executive for the provision of services pursuant to the Health Acts 1947 to 2004, (b)any institution in which services are...

Written Answers — Tax Yield: Tax Yield (16 Oct 2007)

Brian Cowen: Exchequer tax revenues in each of the last three years have been better than Budget Day estimates. In 2004 tax revenues were 6.5 per cent ahead of target. In 2005, receipts were 4.7 per cent ahead of target and in 2006, tax revenues were 9.3 per cent ahead of target. These additional receipts allowed for a significant reduction in debt levels which is a welcome outcome. One of the reasons...