Results 8,401-8,420 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Banking Sector Regulation: Banking Sector Regulation (10 Feb 2009)

Brian Lenihan Jnr: Anglo Irish Bank is being run on an arm's length commercial basis. I have delegated the function of appointing a chief executive officer under section 20 (b) of the Anglo Irish Bank Corporation Act 2009, to the Chairman of Anglo Irish Bank. I will continue to support the efforts of the Board in appointing a chief executive officer with a view to ensuring the continued commercial operation...

Written Answers — Tax Code: Tax Code (10 Feb 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 221 and 225 together. The provisions of section 31 of the Finance (No 2) Act 2008 provide for relief from corporation tax for their first 3 years of operation for companies incorporated on and from 14 October 2008 that commence to carry on a new trade in 2009. The relief is granted by reducing the corporation tax on the profits of the new trade and on the...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (10 Feb 2009)

Brian Lenihan Jnr: The Financial Regulator is examining issues that have arisen in Anglo Irish Bank including where loans were made to former directors. These issues span a considerable period of time are complex and it will take time to investigate them fully. The Office of the Director of Corporate Enforcement is also investigating this and related matters. In order to ensure that the investigations of...

Written Answers — Departmental Equipment: Departmental Equipment (10 Feb 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that construction of the second Revenue cutter is proceeding well. Delivery is expected in September 2009 and, on that basis, plans are in place to have the cutter in service by the end of the year. Revenue will be going to tender shortly for the purchase of the new scanner. Pending the outcome of the tender process, it is not possible to be precise...

Written Answers — Tax Code: Tax Code (10 Feb 2009)

Brian Lenihan Jnr: I understand the Deputy is referring to the income levy which took effect from 1 January 2009. The position is that the income levy applies to gross income and constitutes an additional tax. The income base on which the income levy is applied is different to that of income tax or, indeed Pay Related Social Insurance (PSRI) contributions and health levy contributions. Gross income in the...

Written Answers — Tax Code: Tax Code (10 Feb 2009)

Brian Lenihan Jnr: I announced in Budget 2009 that the betting duty would be increased from 1 to 2%. Subsequently, I met a wide range of representatives from the betting industry where the problems faced by the sector, including those arising from the Budgetary changes, were discussed. The Finance (No. 2) Act 2008 provides that the betting duty rate will be increased from 1% to 2% on 1 May 2009. The Act also...

Written Answers — Tax Code: Tax Code (10 Feb 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that money that is received by an individual in respect of the letting, for residential purposes, of part of that individual's home is exempt from income tax, income levy, PRSI and the health levy where it is below €10,000. Any amount received for meals, cleaning, laundry or other similar goods and services that are incidentally provided in...

Written Answers — : (10 Feb 2009)

Brian Lenihan Jnr: The Government believes that it is important to ensure that in so far as possible mortgages are available to people who want to buy houses. In the context of discussions on recapitalisation before Christmas Allied Irish Bank and Bank of Ireland committed to, amongst other things, providing an additional 30% capacity for lending to first time buyers in 2009. The banks also committed to...

Written Answers — Tax Collection: Tax Collection (10 Feb 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that there is no record of receiving a claim for repayment of tax from the taxpayer. Previous representations were made last year on the matter. Revenue wrote to the taxpayer on 22nd July 2008 requesting information to advance a claim but there is no record of a reply having been received.

Written Answers — Tax Code: Tax Code (10 Feb 2009)

Brian Lenihan Jnr: Where the individual has an entitlement to a full medical card at any time during the year the individual should forward a copy of their full medical card to their employer/pension provider and the employer/pension provider will then cease to deduct the income levy. Where the income levy has been applied for particular pay period(s) during the year and the individual has an entitlement to a...

Written Answers — Tax Code: Tax Code (10 Feb 2009)

Brian Lenihan Jnr: The scheme for the purchase of notional service allows officers who would have less than maximum pensionable service at age 60 or 65 and who fulfil certain other conditions to purchase additional reckonable service at full actuarial cost. The pension deduction will have no effect on the purchase of notional service now or in the future.

Written Answers — National Treasury Management Agency: National Treasury Management Agency (10 Feb 2009)

Brian Lenihan Jnr: I would like to draw the Deputy's attention to the fact that savings bonds, savings certificates and national instalment savings, three of the Government's personal savings products for which the National Treasury Management Agency is responsible, allow individuals to invest in fixed-term, fixed-rate instruments which are part of the National Debt. They are available for purchase through any...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (10 Feb 2009)

Brian Lenihan Jnr: Section 47 of the Credit Institutions (Financial Support) Scheme 2008 (Scheme) requires each covered institution to prepare a plan to structure the remuneration packages of directors and executives, including total salary, bonuses, pension payments and any other benefit, so as to take account of the objectives of the Scheme. The Deputy will be aware of the existence of the Covered...

Written Answers — Tax Code: Tax Code (10 Feb 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 241 and 242 together. The pension related deduction applies to public servants, that is those who are employed in a public service body. It will not apply to occupational or State pension income received by retired public servants. It is not being applied to the commercial semi state sector. The deduction will apply to all remuneration including allowances...

Written Answers — Departmental Staff: Departmental Staff (10 Feb 2009)

Brian Lenihan Jnr: Based on returns made to my Department for end September 2008 [the last date for which complete data are available] the number of serving non industrial civil servants was estimated to be 37,000 full time equivalents (fte). It is estimated that just over 1,000 staff (fte) — approximately 3% excluding staff serving in the Prisons Service — were not employed on a permanent basis. These...

Written Answers — Departmental Correspondence: Departmental Correspondence (10 Feb 2009)

Brian Lenihan Jnr: My officials will be in touch with the Deputy setting out the procedure to be followed in relation to the matter raised.

Written Answers — Tax Code: Tax Code (10 Feb 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the position in relation to the transactions concerned is as follows. With regard to VAT, the renting of residential property is exempt from VAT. Before 1 July 2008, where a developer let a residential property, this would have resulted in a full claw-back of all the VAT incurred on the construction of that property, which had been reclaimed...

Written Answers — Job Losses: Job Losses (10 Feb 2009)

Brian Lenihan Jnr: Job losses have an impact on the Exchequer finances in two ways — through additional social welfare costs and reduced tax revenue. The exact additional cost depends on individual circumstances, for example; whether the individual is married or single, whether he/she is signing on with the Department of Social and Family Affairs for full benefits or signing on due to reduced working hours,...

Written Answers — Live Register: Live Register (10 Feb 2009)

Brian Lenihan Jnr: The Addendum to the Stability Programme Update was published on 9th January 2009 and the labour market projections are based on information up to the end of last year. In preparing the budgetary forecasts published in the Addendum, the average live register projection for 2009 is 340,000 persons and the corresponding year-end figure is for approximately 400,000 people.

Written Answers — Tax Code: Tax Code (10 Feb 2009)

Brian Lenihan Jnr: The proposed pension-related deduction for public servants will operate under what is known as the "net pay" arrangement, whereby pension contributions for PAYE taxpayers, including those in the public sector, are deducted from gross pay before the application of income tax, PRSI and the health levy. As a result, it is proposed that the pension-related deductions will be exempt for income...