Results 8,161-8,180 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Collection: Tax Collection (27 Jan 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the taxpayer's letter of appeal was received just marginally outside the two month statutory time limit. In view of this fact the Revenue Commissioners have decided to accept his letter of appeal. The case will be reviewed by a designated officer and his decision will be communicated directly to the taxpayer shortly. I am also advised that if...

Written Answers — Tax Collection: Tax Collection (27 Jan 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the solicitor for the person in question was requested on 17 April 2007 to return a completed Form IT 38. This Form is still awaited and it is needed to determine the valuation date and the value of the property in question so as to calculate the amount of Capital Acquisitions Tax due. Based on the information available, 1) it appears that...

Written Answers — Disabled Drivers: Disabled Drivers (27 Jan 2009)

Brian Lenihan Jnr: A special Interdepartmental Review Group reviewed the operation of the Disabled Drivers Scheme. It examined the current benefits, the qualifying medical criteria, the Exchequer costs, relationship with other schemes and similar schemes in other countries. The report also made a number of recommendations, both immediate and long-term, referring respectively to the operation of the appeals...

Written Answers — Consumer Protection: Consumer Protection (27 Jan 2009)

Brian Lenihan Jnr: This question relates to issues raised by "Friends of Banking Ireland". I have been informed by the Financial Regulator that it met Friends of Banking Ireland on 13 November 2008 and that a number of issues relating to the role of the Financial Regulator, the reach of the consumer protection code, the complaints process for individual redress and the confidentiality obligations under which...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (27 Jan 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 242, 262 and 279 together. In the area of prudential regulation, the Financial Regulator applies regulatory rules to a range of banking activities in accordance with national, EU and international requirements. The importance of having a regulatory system that provides financial stability and fosters probity has become all the more clear to us now in a time...

Written Answers — Tax Collection: Tax Collection (27 Jan 2009)

Brian Lenihan Jnr: The Revenue Commissioners have had a particular focus on the construction sector in recent years and this sector continues to feature prominently in Revenues compliance programmes. A national construction industry project was conducted between 2006 and 2008. For the duration of this project, Revenue assigned 25% of its audit and compliance resources to monitoring this industry. All of...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that under the legislation governing the operation of Relevant Contracts Tax (RCT) the general position is that the obligation to operate RCT is placed on the principal contractor under the construction contract. A principal contractor must operate RCT on payments to subcontractors not only where the construction work being carried out relates to a...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 245 and 287 together. I am informed by the Revenue Commissioners that the Tax Acts apply different rules to the computation of taxable income depending on the source of the income. The income receivable from the letting of premises such as self-catering accommodation is regarded as rental income and assessed accordingly. Income from the operation of hotels and...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 246, 248 and 250 together. The position is that, on the basis of the legislation as enacted, the employer is legally obliged to deduct income levy from all payments of emoluments (which would include salary, bonus payments and other payments in the nature of pay) made to his or her employees where payment of those emoluments takes place on any date on or after...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that interest arising on deposits made by Credit Unions with banks is not subject to Deposit Interest Retention Tax. Credit Unions, being themselves "relevant deposit takers" (under Section 256 of the Taxes Consolidation Act 1997) who operate DIRT, are not subject to the DIRT provisions on the interest arising on their deposits with banks or other...

Written Answers — Tax Collection: Tax Collection (27 Jan 2009)

Brian Lenihan Jnr: It is assumed that what the Deputy is seeking is the number of PAYE income earners in the ranges of income specified as determined by reference to the income tax record. I am advised by the Revenue Commissioners that the information requested, estimated by reference to the income tax year 2009, is as follows: All PAYE income earners Income Tax Year 2009 Gross Income Numbers €0 –...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 251 and 252 together. I am informed by the Revenue Commissioners that the question of whether or not there is a "redundancy" is a question of fact to be established by examining the circumstances of each individual case. Where a worker receives a lump sum payment on the termination of his/her employment and returns to the employment a short time later Revenue...

Written Answers — Pension Provisions: Pension Provisions (27 Jan 2009)

Brian Lenihan Jnr: An ARF (Annual Retirement Fund) is an alternative to a retirement annuity allowing certain individuals considerable flexibility and freedom in relation to the drawing down of benefits from their pension plans. The purpose of the ARF is to provide an income stream in retirement and, in common with annuity income, draw-downs from ARFs are subject to taxation at the ARF owner's marginal rate of...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (27 Jan 2009)

Brian Lenihan Jnr: The Bank Guarantee Scheme, and the conditions attached, has given rise to detailed engagement by Government with the banks. In the period since September, I have, along with my Department, the Central Bank, the Financial Regulator and the National Treasury Management Agency (NTMA), worked with the covered financial institutions to examine all options to maintain stability and the proper...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (27 Jan 2009)

Brian Lenihan Jnr: In its decisions of 28th November and 14th December 2008, the Government decided to support a recapitalisation programme for credit institutions in Ireland of up to €10 billion. You will be aware that on 21 December, I announced specific proposals in relation to the three major financial institutions. The Deputy will also be aware that we are in discussions with certain other institutions...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (27 Jan 2009)

Brian Lenihan Jnr: Since the introduction of the Bank Guarantee Scheme in September, I have received correspondence from various sectors of society, including the Financial Regulator, the NTMA, Public Representatives, the banking industry, both home and abroad, and the general public. The Deputy will appreciate that given the amount of correspondence received, it is not possible to give details of all written...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (27 Jan 2009)

Brian Lenihan Jnr: In the area of prudential regulation, the Financial Regulator applies regulatory rules to a range of banking activities in accordance with national, EU and international requirements. The importance of having a regulatory system that provides financial stability and fosters probity has become all the more clear to us now in a time of severe financial dislocation, both nationally and...

Written Answers — Tax Collection: Tax Collection (27 Jan 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that they have written to the person concerned on 23rd January 2009 in relation to the matter.

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Jan 2009)

Brian Lenihan Jnr: Prior to the introduction of the Central Bank and Financial Services Authority of Ireland Act 2003, the regulation of financial services was dispersed across a number of bodies. However, most of these regulatory functions were allocated to the Irish Financial Services Regulatory Authority upon its establishment and, at that time, it was also given new functions relating to the promotion of...

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Jan 2009)

Brian Lenihan Jnr: The Financial Regulator was established in 2003, but its budget for that year was financed as part of the overall budgets of the Central Bank and the Department of Enterprise Trade and Employment. Since 2004, the annual budget of the Financial Regulator has been as follows: Year Budget â'¬ 2004 38,505,000 2005 44,519,000 2006 48,625,000 2007 51,577,000 2008 55,764,000