Results 701-720 of 19,445 for speaker:Brian Cowen

Written Answers — Special Savings Incentive Scheme: Special Savings Incentive Scheme (3 Mar 2005)

Brian Cowen: The matter is subject to ongoing study within my Department. The impact of maturing SSIA funds on consumer demand in 2006 and 2007 is difficult to estimate and will depend on how the accumulated savings are spent or saved, how that portion of an individual's income that was previously saved in SSIAs is used, and the extent to which savings are rolled over into other investment products. The...

Written Answers — Tax Code: Tax Code (3 Mar 2005)

Brian Cowen: The Irish authorities have yet to conclude their consideration of the letter of 6 January 2005 from the Commission Directorate General for Agriculture and Rural Development and a reply to the Commission's letter has not yet issued. Officials from my Department and the Department of Agriculture and Food met with Commission officials on 23 February 2005. At this meeting, the Commission agreed...

Written Answers — Tax Code: Tax Code (3 Mar 2005)

Brian Cowen: At the most recent meeting of EU Finance Ministers on 17 February, there was a lunchtime discussion about exploring the possibility of introducing a tax on aviation fuel or a levy on airline tickets for the purposes of raising revenue for development aid. Opinions differed on the wisdom of such an approach. Following this discussion, the European Commission was asked to examine the pros and...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (3 Mar 2005)

Brian Cowen: In responding to the Deputy, I should, perhaps, first clarify the context in which the recent report was published and the views of interested parties sought thereon. The report published by the Competition Authority last December was one which had been prepared for it by a firm of consultants. While endorsing the analysis in the report, the authority has not yet taken a position on the...

Written Answers — Tax Code: Tax Code (3 Mar 2005)

Brian Cowen: I announced in my Budget Statement that my Department and the Office of the Revenue Commissioners will undertake a detailed review of certain tax incentive schemes and tax exemptions in 2005. This review will evaluate their impact and operation including their economic and social benefits for the different locations and sectors involved and to the wider community. In addition the review will...

Written Answers — Tax Code: Tax Code (3 Mar 2005)

Brian Cowen: In the context of this year's Finance Bill, the Irish Charities Tax Reform Group, ICTRG, has proposed a reduction in the minimum threshold for donations qualifying for tax relief from €250 to €100 and an extension of the current donations scheme to cover gifts of non-cash assets. In addition, the group has proposed the introduction of a VAT refund scheme for charities. I have considered...

Written Answers — National Minimum Wage: National Minimum Wage (3 Mar 2005)

Brian Cowen: I remind the Deputy it was this Government that introduced the minimum wage to protect low paid workers and which, over the last eight budgets, removed a record number of some 459,500 workers from the tax net. The wage is €15,515 on an annualised basis, based on a 39-hour week. The income tax threshold is €14,250 per annum. The Revenue Commissioners estimate there will be approximately...

Written Answers — Tax Code: Tax Code (3 Mar 2005)

Brian Cowen: The Deputy is aware of my announcement in budget 2005 that my Department, in conjunction with the Revenue Commissioners, will undertake a detailed review of certain tax incentive schemes and tax exemptions this year. There are a number of elements to the review which is already under way. It will evaluate the impact and operation of certain incentive schemes and exemptions including their...

Written Answers — Non-Resident Accounts: Non-Resident Accounts (3 Mar 2005)

Brian Cowen: I am advised by the Revenue Commissioners that their Ansbacher review team has inquired into 289 cases to date, 109 of which have been finalised. The 289 cases, taking account of spouses and connected companies, consist of 300 names. They are made up of 179 cases listed on the High Court inspectors' report and 110 similar cases discovered by Revenue or listed on the authorised officer's...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (3 Mar 2005)

Brian Cowen: The level of penalties to be applied in the case of certain tax evasion by the banking sector was addressed in the Finance Act 2002, following recommendations made by the Committee of Public Accounts. As a result, heavier tax-geared penalties can now be applied in circumstances where fixed penalties were previously applied. As the Deputy is aware, the Revenue Commissioners were given...

Written Answers — Special Savings Incentive Scheme: Special Savings Incentive Scheme (3 Mar 2005)

Brian Cowen: The SSIA scheme opened on 1 May 2001 and entry to it closed on 30 April 2002. The accounts are due to mature between May 2006 and April 2007 at the end of the five-year period. A total of 1.17 million accounts were opened during the period outlined. The specific goal of the SSIA scheme was to encourage people to save over a period of at least five years. Its effect has been to stimulate such...

Written Answers — Public Private Partnerships: Public Private Partnerships (3 Mar 2005)

Brian Cowen: I refer the Deputy to my answer to a parliamentary question put by Deputy Murphy on Tuesday, 1 February 2005, reference number 2536/05, wherein I provided the following information. Public private partnerships, PPPs, are part of the overall strategy to deliver on investment priorities. The Government is committed to developing the PPP process as a viable procurement option for appropriate...

Written Answers — Financial Services Regulation: Financial Services Regulation (3 Mar 2005)

Brian Cowen: My Department is not carrying out an investigation into any of the companies named. Since this is an operational matter, it is for the Revenue Commissioners to decide what action should be taken in cases that come to their attention. For operational reasons it would not be appropriate to comment further. The role of the Minister for Finance in regard to financial regulation is to bring...

Written Answers — Decentralisation Programme: Decentralisation Programme (3 Mar 2005)

Brian Cowen: I accept that the number of applications to the central applications facility, CAF, from the Civil Service are much better than those from State agencies. Unlike the State agencies, the Civil Service has considerable previous experience of decentralisation and has a long tradition of interdepartmental transfers. The decentralisation implementation group asked that all organisations...

Written Answers — Tax Collection: Tax Collection (3 Mar 2005)

Brian Cowen: I am advised by the Revenue Commissioners that there are two ways in which a taxpayer may have been in breach of the amnesty, either through making a false declaration or through not making a declaration. The Revenue Commissioners do not have figures for the number of detected breaches of the amnesty. The confidentiality conditions built into the 1993 amnesty legislation make such breaches...

Written Answers — Tax Collection: Tax Collection (3 Mar 2005)

Brian Cowen: The Revenue Powers Group was established in March 2003 to review Revenue's main powers and recommend changes. The group reported in late 2003 and its report was published in February 2004. At the time of publication of the report, the then Minister for Finance indicated his intention to allow a period for public debate and reflection on many of the wide-ranging issues raised by the...

Written Answers — Budgetary Process Reform: Budgetary Process Reform (3 Mar 2005)

Brian Cowen: I am continuing to examine a number of options for change which could be implemented in the short and medium term. Any changes to the process would need to meet best practice, improve both the quality of debate and the data available to the House on the budget, meet our obligations to the EU and be capable of being delivered within the existing budget timetable. Before I bring proposals to...

Written Answers — Public Capital Programmes: Public Capital Programmes (3 Mar 2005)

Brian Cowen: The recently revised guidelines for the appraisal and management of capital expenditure proposals in the public sector are part of the Government's continuing commitment to maximising value for money from public expenditure. They will complement the rolling multi-annual capital envelopes introduced in budget 2004. The new guidelines are designed to be rigorous in their approach to the...

Written Answers — House Prices: House Prices (3 Mar 2005)

Brian Cowen: In the past number of years there has been a sharp increase in housing output and it has become a highly significant sector of the economy. In 2003 housing construction accounted for just over 10% of GNP. A gradual easing back of housing output is envisaged in the coming years, although this is expected to be offset by other components of building and construction, assisted by a continuation...

Written Answers — Tax Code: Tax Code (3 Mar 2005)

Brian Cowen: I am informed by the Revenue Commissioners that the estimated corporation tax paid in 2004 by banks and other financial institutions was of the order of €1,300 million. This figure is significant, representing almost 25% of our total corporation tax take of €5,334 million in 2004. This covers banks, their Irish subsidiaries, banking activities in the IFSC, insurance companies and building...