Results 7,201-7,220 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (14 Oct 2008)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the yield from applying income tax to child benefit and the early childcare supplement would be in the order of €600 million in a full year. The yield quoted is provisional and subject to revision.

Written Answers — Tax Code: Tax Code (14 Oct 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 33 to 35, inclusive, together. As the Deputy will be aware, it is not customary for the Minister of Finance to comment on possible tax changes in advance of the Budget.

Written Answers — International Finance Corporation: International Finance Corporation (14 Oct 2008)

Brian Lenihan Jnr: I assume the Deputy is referring to the International Finance Corporation (IFC) which is a longstanding component of the World Bank group and was established in 1956, some 12 years after the Bretton Woods Conference in 1944. I am informed that the role of the IFC is to foster sustainable economic growth in developing countries by financing private sector investment, mobilising capital in the...

Written Answers — Tax Code: Tax Code (14 Oct 2008)

Brian Lenihan Jnr: The stamp duty relief for first time buyers is provided for in section 92B of the Stamp Duties Consolidation Act 1999 and the term "first time purchaser" is defined in the section. In the definition, a first time purchaser is referred to as a person who has not previously purchased a house or a part of a house or previously built a house on his or her own behalf. In addition, a first time...

Written Answers — Information Obligations: Information Obligations (14 Oct 2008)

Brian Lenihan Jnr: As the Deputy may be aware, the Department of Enterprise, Trade and Employment is coordinating the overall process to measure and reduce burdens on business. My Department is participating in this process and is currently compiling a list of information obligations in relation to the legislation for which it has responsibility. The timeframe for the completion of the identification,...

Written Answers — EU Directives: EU Directives (14 Oct 2008)

Brian Lenihan Jnr: During the past year, three EU Directives and one EU Regulation have been transposed into Irish law by my Department. Directive/Regulation Reference Number Title of Directive/Regulation Transposition deadline Method of transposition 2003/96/EC Council Directive 2003/96/EC of 27 October 2003 restructuring the Community framework for the taxation of energy products and electricity (Text with...

Written Answers — EU Directives: EU Directives (14 Oct 2008)

Brian Lenihan Jnr: There are seven EU Directives and one Regulation awaiting transposition into Irish law by my Department at the current time. Directive 2007/74/EC, which was signed on 20th December 2007, replaces earlier provisions (Directive 69/169/EEC), adapting it to the enlarged EU whilst restructuring it and simplifying certain provisions. Current tax exemptions for VAT and excise duties applied to goods...

Written Answers — Tax Collection: Tax Collection (14 Oct 2008)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that a tax debt due by the person concerned has been the subject of referral by the Commissioners to the relevant sheriff in order to enforce recovery of that debt after the person failed to pay Revenue. Weekly payments are being made to the sheriff and following a recent review of the level of payment the sheriff is satisfied, for the time being,...

Written Answers — Tax Code: Tax Code (14 Oct 2008)

Brian Lenihan Jnr: I have been informed by the Revenue Commissioners that a P21 for the year ended 31 December 2007 issued on 18 August 2008. Where a married couple are jointly assessed for Income Tax all balancing statements (P21s) issue to the assessable spouse. The person in question is not the assessable spouse in this case and therefore the P21 did not issue in her name but in the name of her spouse. A...

Written Answers — Tax Code: Tax Code (14 Oct 2008)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that they are reviewing their original decision to refuse tax relief in view of the additional information supplied. They will contact the taxpayer shortly to advise him of their decision.

Written Answers — Budget Submissions: Budget Submissions (14 Oct 2008)

Brian Lenihan Jnr: I have received a pre-budget submission from Nursing Homes Ireland. As the Deputy is aware it would not be appropriate for me to comment in advance of the Budget on possible Budget decisions.

Written Answers — Tax Code: Tax Code (14 Oct 2008)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that they are not treating the person in question as being self-employed. The person in question is in receipt of a UK pension that cannot be taxed under PAYE, and is dealt with under the Income Tax system in the same way as all non-PAYE income. If the person wishes to discuss their tax affairs they may contact Mr Con Murphy, Kerry Tax District,...

Written Answers — Consumer Price Index: Consumer Price Index (14 Oct 2008)

Brian Lenihan Jnr: The Consumer Price Index (CPI) is compiled by the Central Statistics Office (CSO) in line with best international standards. The CSO has sole responsibility for deciding the statistical methodology to be used and is independent in its decisions. Any proposed changes are therefore a matter for the CSO. I would however draw the Deputy's attention to the fact that a consumer price index...

Written Answers — Tax Code: Tax Code (14 Oct 2008)

Brian Lenihan Jnr: I should explain that Nicorette sublingual tablets, Nicorette Inhalers and Nicorette chewing gum are chargeable to VAT at the zero rate. The basis for the zero rating of these products is that they come within paragraph (xiii) of the Second Schedule to the VAT Act 1972 as "medicine of a kind used for human oral consumption". Nicorette chewing gum was zero-rated as the product requires...

Written Answers — Tax Code: Tax Code (14 Oct 2008)

Brian Lenihan Jnr: The Stamp Duties Consolidation Act 1999, as amended, provides for a Stamp Duty Exemption on the purchase of farm land by Young Trained Farmers. To qualify for the relief, an individual must, on the date of execution of the instrument of transfer, be under 35 years of age and hold a relevant qualification. The relevant qualifications are set out in Schedules to the Act. A degree in...

Written Answers — Pension Provisions: Pension Provisions (15 Oct 2008)

Brian Lenihan Jnr: Budget and Finance Act 2006 introduced a maximum allowable pension fund on retirement for tax purposes. A limit of €5 million was placed on the total capital value of pension benefits that an individual can draw upon in their lifetime from tax-relieved pension arrangements. This is known as the Standard Fund Threshold (SFT). A higher limit (the Personal Fund Threshold — PFT) was also...

Written Answers — Departmental Contracts: Departmental Contracts (15 Oct 2008)

Brian Lenihan Jnr: Since 2000, no contracts have been awarded to the company in question by my Department or bodies under the aegis of my Department.

Written Answers — Financial Institutions: Financial Institutions (15 Oct 2008)

Brian Lenihan Jnr: Intensified oversight and scrutiny of financial institutions has been in place since the onset of the current turmoil in financial markets. I note that the Chief Executive of the Financial Regulator, appearing yesterday before the Oireachtas Joint Committee on Finance and the Public Service, stated the Regulator intends to increase further its focus on the management of credit and liquidity...

Written Answers — Home Ownership: Home Ownership (15 Oct 2008)

Brian Lenihan Jnr: As the Deputy will appreciate, mortgage insurance is only one of a number of factors that has the potential to increase home ownership for people requiring higher loan to value mortgages. Mortgage insurance for lenders is a financial product that already exists in Ireland and providers of the product must be authorised in accordance with the European Communities (Non Life Insurance)...

Financial Resolution No. 15: (General) Resumed (16 Oct 2008)

Brian Lenihan Jnr: The Deputy should be careful about the accuracy of media reports.