Results 7,121-7,140 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (7 Oct 2008)

Brian Lenihan Jnr: I take it that the Deputy is referring to the review of Tax Relief for Pensions Provision carried out jointly by the Revenue Commissioners and the Department of Finance in 2005, the report of which was published in 2006 as part of Volume III of the Budget 2006 Review of Tax Schemes — Internal Reviews of Certain Tax Schemes. The main conclusions reached in the Review are set out in paragraph...

Written Answers — Pension Provisions: Pension Provisions (8 Oct 2008)

Brian Lenihan Jnr: The total accrued liability in respect of public service occupational pensions is estimated at €75bn as of 2007. This figure represents the current liability for future superannuation payments to serving public service employees and their dependents in respect of service to date along with the liability for all future payments to current pensioners and their dependents. In the past...

Written Answers — Tax Yield: Tax Yield (8 Oct 2008)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the information furnished on tax returns does not generally require the yield from a particular sector or sub-sector of economic activity to be identified. Consequently, the precise figures of net yield of tax revenues from the construction industry cannot be readily identified. Information in relation to VAT, Income Tax and Corporation Tax can,...

Written Answers — Construction Industry: Construction Industry (8 Oct 2008)

Brian Lenihan Jnr: Given that the Deputy has asked for data going back to 2000 i.e. before the recent enlargements of the EU, the data published by Eurostat for the EU 15 over the period in question is used in order to provide a comparable set of data. It should be noted that the data for the contribution of construction to output is published by Eurostat on a Gross Value Added (GVA) basis and not as a...

Written Answers — Tax Code: Tax Code (8 Oct 2008)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that a property developer may be entitled to claim a refund of tax paid as a result of losses arising from a reduction in the value of land and property where certain requirements have been met, as follows: The developer would have to be engaged in a trade of land dealing and development so that any land and property held by the developer forms part...

Written Answers — Exchequer Borrowing: Exchequer Borrowing (8 Oct 2008)

Brian Lenihan Jnr: The nature of the guarantees to be provided by the Government under the Credit Institutions (Financial Support) Act 2008 are such that they will not be included in the General Government Balance or the Debt. The Deputy may wish to note that over the two year period of the guarantee the covered institutions will pay a significant charge for the guarantee. I am informed by the NTMA that there...

Written Answers — Banking Sector: Banking Sector (8 Oct 2008)

Brian Lenihan Jnr: During the debate on the Credit Institutions (Financial Support) Act 2008 I referred to an estimate that the total assets of the six credit institutions referred to in the Government's announcement of 30 September exceed their guaranteed liabilities by approximately €80 billion. This estimate was based on the end-2007 published accounts of the credit institutions concerned. Work is...

Written Answers — Tax Code: Tax Code (8 Oct 2008)

Brian Lenihan Jnr: In 2005 my predecessor introduced a special stamp duty relief relating to an exchange of farm land between two farmers for the purposes of consolidating each farmer's holding. The relief was extended in 2007 to qualifying exchanges of land where only one farmer is consolidating his/her holding. I am informed by the Revenue Commissioners that from 1 July 2005 to 30 September 2008 there have...

Written Answers — Financial Services Regulation: Financial Services Regulation (8 Oct 2008)

Brian Lenihan Jnr: Last week against the backdrop of unprecedented difficulties in international financial markets, the Government acted quickly and resolutely to guarantee the depositors and lenders with Irish financial institutions and ensure these institutions can access the funding necessary to enable them to continue to provide the financial services and liquidity needed for the proper functioning of our...

Written Answers — Tax Code: Tax Code (8 Oct 2008)

Brian Lenihan Jnr: I refer the Deputy to my reply to his PQ Dáil Question No. 74 (Ref: 31317/08), taken together with Dáil Question No. 52 (Ref: 31336/08) tabled by Deputy Sean Sherlock, for oral answer on Thursday 25 September 2008. He will have noted that my Department has asked the Consumer Director in the Financial Regulator to review current practices of seller financing of deposits for housing sales...

Written Answers — Tax Code: Tax Code (8 Oct 2008)

Brian Lenihan Jnr: I would point out to the Deputy that this Government has provided significant supports to first-time buyers through the mortgage interest relief measure fulfilling the commitment contained in the programme for Government. Cumulatively, as a result of Budget 2007 and Budget 2008, first-time buyers have obtained additional relief of up to €100 per month, if single, or €200 per month, if...

Written Answers — Financial Services Regulation: Financial Services Regulation (8 Oct 2008)

Brian Lenihan Jnr: The function of the Minister is to provide an appropriate and robust legislative framework for regulation of the financial services sector with a particular focus on the consumer. The Financial Regulator has a wide regulatory remit in respect of financial matters, including banking supervision, which relates to the prudential supervision of mortgage providers i.e. banks and building...

Written Answers — Tax Yield: Tax Yield (8 Oct 2008)

Brian Lenihan Jnr: Details of Exchequer taxes for the years 2004 — 2007 are published in the Finance Accounts and the relevant information is set out below for completeness. In relation to 2008, I will be publishing my latest Exchequer tax estimate for the 2008 outturn in the White Paper on Estimates and Receipts this coming weekend and, as is the norm on Budget day, 14 October, I will publish my...

Written Answers — Tax Code: Tax Code (8 Oct 2008)

Brian Lenihan Jnr: The position is that bodies supplying educational services and non-profit organisations are exempt from VAT under the EU 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 recover...

Written Answers — Tax Code: Tax Code (8 Oct 2008)

Brian Lenihan Jnr: As the Deputy will be aware, it is a long-standing practice for the Minister for Finance not to comment in advance of the Budget on any tax or expenditure matters that might be the subject of Budget decisions. I do not propose to deviate from this practice.

Written Answers — Official Engagements: Official Engagements (8 Oct 2008)

Brian Lenihan Jnr: I will not be attending the ceremony to mark the United Nations International Day for the Eradication of Poverty as outlined in the Deputy's question.

Written Answers — Tax Code: Tax Code (8 Oct 2008)

Brian Lenihan Jnr: As the Deputy will be aware, it is not customary for the Minister of Finance to comment on possible tax and expenditure changes in advance of the Budget.

Written Answers — Departmental Staff: Departmental Staff (9 Oct 2008)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the number of officials engaged in customs duties in the Border Midlands West region for the years in question is as follows: 2005 — 89 2006 — 87 2007 — 84 2008 — 89 The counties covered by the Border Midlands West region are: Galway, Roscommon, Mayo, Sligo, Leitrim, Longford, Donegal, Westmeath, Offaly, Louth, Cavan and Monaghan.

Written Answers — Departmental Staff: Departmental Staff (9 Oct 2008)

Brian Lenihan Jnr: I have no function in the filling of General Operative level vacancies in other Government Departments. I would refer the Deputy to my reply to Parliamentary Question No. 79, ref. 34305/08, and advise that, other than the Office of Public Works, my Department has no General Operative posts in County Wexford or South Leinster nor do they have any posts that could be filled at General Operative...

Written Answers — Tax Code: Tax Code (9 Oct 2008)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the excise duty and VAT that applies to the main excisable products are as shown in the following table. With respect to the total revenue expected to be raised in each case from the products in 2008, I will be publishing the annual Budget next Tuesday, 14 October 2008. Tax Context of Main Excisable Products Product Measure Price Excise...