Results 9,201-9,220 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Departmental Expenditure: Departmental Expenditure (11 Mar 2009)

Brian Lenihan Jnr: The Government recently announced its intention to examine all current and capital expenditure as part of its decision to introduce further measures to stabilise the public finances. All decisions on funding for the National Development Plan will be taken in the course of these deliberations and will be announced in the coming weeks.

Written Answers — Tax Code: Tax Code (11 Mar 2009)

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

Written Answers — Financial Services Regulation: Financial Services Regulation (11 Mar 2009)

Brian Lenihan Jnr: At the outset the Deputy may wish to note that the choice of mortgage product ultimately rests with consumers in light of their assessment of the terms and conditions that their lending institution offers. The decision of borrowers is influenced by a range of factors such as their personal preferences and their own assessment of the relative merits of fixed and variable rate mortgages. ...

Written Answers — Financial Services Regulation: Financial Services Regulation (11 Mar 2009)

Brian Lenihan Jnr: I am assuming that by "Irish citizens who qualify for non-payment of tax here," the Deputy means Irish-domiciled individuals claiming to be non-resident for tax purposes. I am informed by the Revenue Commissioners that Irish citizens who are non-resident for tax purposes are in general chargeable on: income arising in Ireland, for example, income from directorships, a trade or profession,...

Written Answers — Financial Services Regulation: Financial Services Regulation (11 Mar 2009)

Brian Lenihan Jnr: Anyone taking a fixed rate mortgage knows that they are ensuring certainty for their payments over the period. In doing so they avoid the risk of rate increases, but of course they forgo the chance to benefit from rate reductions. In general banks will try to match fixed rate loans with fixed rate funding, so that there is a real cost to them if a customer wishes to end the fixed rate...

Written Answers — Financial Services Regulation: Financial Services Regulation (11 Mar 2009)

Brian Lenihan Jnr: The variable mortgage interest rates have fallen sharply in recent times. This is a major benefit to many families. The Deputy will be aware that many lenders are conducting extensive advertising campaigns, showing that competition is a real factor on the mortgage scene. The existence of that level of competition in the mortgage lending market is sufficient, I believe, to ensure that credit...

Written Answers — Compulsory Retirement Age: Compulsory Retirement Age (11 Mar 2009)

Brian Lenihan Jnr: The information sought by the Deputy insofar as it is available is set out in the table(s) below. However it should be noted that though an officer had 40 years pensionable service it does not necessarily mean that she/he had 40 years actual service. In some cases, an officer may have purchased service, had ill-health added years or professional added years. Number of Civil Servants who...

Written Answers — Compulsory Retirement Age: Compulsory Retirement Age (11 Mar 2009)

Brian Lenihan Jnr: There is a total of 58 staff currently serving in my Department who have been recruited since the commencement of the Public Service Superannuation (Miscellaneous Provisions) Act 2004 and who, under the provisions of the Act, are not subject to compulsory retirement at 65 years of age. Of the total, 36 are male and 22 are female. These figures do not include staff on fixed term contracts...

Written Answers — Tax Code: Tax Code (11 Mar 2009)

Brian Lenihan Jnr: As the Deputy is aware, I announced in Budget 2009 that an air travel tax will come into force in respect of passengers departing from Irish airports on and from 30 March 2009. A general rate of €10 per passenger will apply, with a lower rate of €2 for shorter journeys. The Finance (No.2) Act 2008 confirms the introduction of an air travel tax from 30 March 2009. However, I took account...

Written Answers — Tax Code: Tax Code (11 Mar 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that as a general rule all vehicles imported permanently into the State must register for Vehicle Registration Tax (VRT) purposes within one working day of arrival. This rule applies equally to vehicles imported by EU and non EU persons. In practice, Revenue allows latitude of a maximum of seven days for registration. However, Section 135 (a) of...

Order of Business (12 Mar 2009)

Brian Lenihan Jnr: The Deputy is on the high seas.

Written Answers — Banking Industry: Banking Industry (12 Mar 2009)

Brian Lenihan Jnr: The choice of mortgage product ultimately rests with consumers in light of their assessment of the terms and conditions that their lending institution offers. The decision of borrowers is influenced by a range of factors such as their personal preferences and their own assessment of the relative merits of fixed and variable rate mortgages. Generally mortgages are for long periods. To some...

Written Answers — Tax Code: Tax Code (12 Mar 2009)

Brian Lenihan Jnr: Under statutory pension schemes and pension schemes approved by the Revenue Commissioners there is no liability to income tax in respect of retirement gratuities or lump sums paid to members of such schemes on retirement. Provided the workers referred to in the details provided by the Deputy are members of such a scheme and the lump sum payments comply with Revenue rules in this area, there...

Written Answers — Tax Code: Tax Code (12 Mar 2009)

Brian Lenihan Jnr: I assume the Deputy is referring to the restriction of reliefs measure that was announced in Budget 2006 and which came into effect from 1 January 2007. The position is that this restriction applies to all taxpayers on high incomes that avail of tax reliefs and is not solely applicable to the exempt income earned by artists. As the Deputy will be aware, the Commission on Taxation is...

Written Answers — Tax Code: Tax Code (12 Mar 2009)

Brian Lenihan Jnr: The rules governing the artists tax exemption scheme are set out in section 195 of the Taxes Consolidation Act 1997 and in the related Guidelines drawn up under that section. These Guidelines are drawn up by the Arts Council and the Minister for Arts, Sport and Tourism with the consent of the Minister for Finance. The current Guidelines have been in place since 1994. The scheme provides an...

Written Answers — Tax Code: Tax Code (12 Mar 2009)

Brian Lenihan Jnr: I assume the Deputy is referring to the provisions of Section 847A of the Taxes Consolidation Act 1997 concerning relief for donations to certain sports bodies. As the Deputy will be aware, tax relief for donations to sports bodies is confined to donations in respect of capital projects. The relief was deliberately structured in that way because of instances of abuse in a previous similar...

Written Answers — Tax Yield: Tax Yield (12 Mar 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that, based on current data, the impacts on revenues and on the CPI arising from the indicated increases in excise duties, inclusive of VAT, on petrol and diesel, in a full year and in 2009, if increase implemented from 1 April 2009, are set out in the following table. Revenue and CPI impacts arising from a range of excise increases, inclusive of VAT...

Written Answers — Tax Yield: Tax Yield (12 Mar 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 84 to 88, inclusive, together. I am informed by the Revenue Commissioners that, based on current data, the impacts on revenues and on the CPI arising from the indicated increases in excise duties, inclusive of VAT, on the products listed, in a full year and in 2009, if increase implemented from 1 April 2009, are set out in the following table. Revenue and CPI...

Written Answers — Tax Yield: Tax Yield (12 Mar 2009)

Brian Lenihan Jnr: I am informed by The Revenue Commissioners that the additional revenue that would be generated by applying a VAT rate of 5% to goods currently at 0%, which if moved could continue to attract a reduced VAT rate, with effect from April 1 is estimated to be €204 million in 2009 and €349 million in 2010 and have a CPI effect of 0.60%. On the same basis, the additional yield from increasing...

Written Answers — Tax Yield: Tax Yield (12 Mar 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2009, of an increase in the income levy from 2% to 3% on incomes between €100,101 and €200,000 would be approximately €35 million. The yield in 2009, if implemented from 1 April, would be of the order of €15 million. However, I should point out that this would create an...