Results 10,861-10,880 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Bank Transfers: Bank Transfers (6 Oct 2009)

Brian Lenihan Jnr: This is not an issue that has been raised by the relevant stakeholders to my Department. I assume the Deputy is referring to payments made in sterling when referring to transactions being made to suppliers and contractors based in the United Kingdom, which is outside of the eurozone. Transaction charges for retail cross border credit transfers in euro within the EU must be charged at the...

Written Answers — Illegal Cigarette Trade: Illegal Cigarette Trade (6 Oct 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and tackling the illicit trade in cigarettes and tobacco products, that there is no internationally recognised method for determining the amount of tax lost as a result of the illicit trade in cigarettes. However, the Commissioners have previously given a tentative estimate that...

Written Answers — Commission on Taxation Report: Commission on Taxation Report (6 Oct 2009)

Brian Lenihan Jnr: The Commission on Taxation have made a number of recommendations in relation to the tax treatment of charities and other approved bodies, as well as in relation to tax relief for donations to such bodies. The Government will consider these recommendations along with all of the other recommendations from the Commission on Taxation in the context of preparations for Budget and Finance Bill 2010.

Written Answers — Tax Yield: Tax Yield (6 Oct 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 242 and 305 to 337, inclusive, together. I am informed that, where available, costings of the various recommendations made by the Commission have been provided in their report. The estimates are generally to be found adjacent to the specific recommendation concerned. In the case of tax expenditures they are presented in a tabular form at the beginning of...

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: In recent years many legislative, administrative and technological initiatives have been implemented to improve and simplify the manner in which taxes and duties are administered. Making it as easy as possible for all customers to fulfil their obligations and claim their entitlements is a key objective and is a cornerstone of Revenue's strategy of maximising voluntary compliance. Initiatives...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Oct 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 245, 246 and 248 together. I have, as have my officials, on many occasions discussed the issue of private investment in the banks with the senior executives of the covered institutions. I have also had some discussions with representatives of potential investors and I understand that some covered institutions have also engaged in such discussions. For...

Written Answers — Private Sector Investments: Private Sector Investments (6 Oct 2009)

Brian Lenihan Jnr: As Minister for Finance I welcome international investment into Ireland and we are all aware of the essential role discharged by international investment in supporting the Irish economy. As Minister, I am not in a position to provide investment advice to investors in relation to the Irish property market or any other market.

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: In Supplementary Budget 2009, I introduced a life insurance levy at a rate of 1% on premiums. This measure is one small part of this Government's concerted effort to raise the revenue necessary to help address the serious recent decline in the public finances. All taxes and potential taxation measures are constantly reviewed in the context of the Budget and Finance Bill. As the Deputy is...

Written Answers — Ministerial Travel: Ministerial Travel (6 Oct 2009)

Brian Lenihan Jnr: In the time available, it has not been possible to provide the information requested by the Deputy. Every effort is being made to collate the information and I will reply directly to the Deputy when this process is completed.

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: I would draw to the Deputy attention to the fact that before Budget 2009, excise duty on wine remained unchanged since the Budget of 1994. The growth in the consumption of wine has been strong over the last ten years particularly relative to other alcohol products. It should also be noted the excise on wine remains considerably lower than excise on spirits. The alcohol products tax content of...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Oct 2009)

Brian Lenihan Jnr: The Credit Union Act 1997 has served credit unions well providing stability and legal certainty during a period of substantial growth and development of the movement. The need for some modernisation of the legislative and regulatory framework for credit unions has become evident over time and there is consensus among all stakeholders that the current legislative framework needs reform....

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Oct 2009)

Brian Lenihan Jnr: A core objective of the legislative and regulatory framework for Credit Unions in Ireland is to ensure the safety and soundness of credit unions. This requires prudent lending and investment decisions by Boards of credit unions to safeguard members' savings. The restrictions contained in Section 35 of the Credit Union Act 1997, as amended, are an important asset and liability tool for...

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: Section 235 of the Taxes Consolidation Act (TCA) 1997 gives an income tax exemption to sporting bodies, which have been approved by Revenue on the basis that the body has been established for, and exists for the sole purpose of promoting athletic or amateur games or sports. The exemption extends to the amount of the income of the approved body as has been, or will be, applied to the sole...

Written Answers — Tax Yield: Tax Yield (6 Oct 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the air travel tax arising from travel undertaken in any month is payable by the 23rd of the following month. The yields from the air travel tax received in the period from May to September 2009, in respect of travel undertaken during the months April to August 2009 are as follows: Month €m May 9.6 June 11.5 July 11.9 August 12.5...

Written Answers — Departmental Staff: Departmental Staff (6 Oct 2009)

Brian Lenihan Jnr: The information requested by the Deputy is set out in the following table. In summary, the information reported to my Department by the end of September indicates that some 992 civil servants had applied for the Incentivised Scheme for Early Retirement (ISER) and that 811 of these had been approved. These Civil Service numbers are based on returns from all Departments and Offices. (The...

Written Answers — Departmental Staff: Departmental Staff (6 Oct 2009)

Brian Lenihan Jnr: The information requested by the Deputy is set out in the following table. In summary, the information reported to my Department by the end of September indicates that some 608 civil servants had applied for the Special Incentive Career Break Scheme and that 519 of these had been approved. These Civil Service numbers are based on returns from all Departments and Offices. In the wider public...

Written Answers — Proposed Legislation: Proposed Legislation (6 Oct 2009)

Brian Lenihan Jnr: Information provided by me during the Second Stage debate on the Bill included the fact that, of the total portfolio value of €77 billion, €9 billion accounted for rolled up interest. I also indicated that, based on information provided by the relevant institutions, about 40% of the assets were cash-flow producing. It is expected that the securities issued to purchase assets from the...

Written Answers — Departmental Staff: Departmental Staff (6 Oct 2009)

Brian Lenihan Jnr: At the end of March 2009, the Government introduced a moratorium on public service recruitment and promotion. I allowed for certain exceptions in the Education and Health Sectors for the filling of certain key posts as well as the Local Authorities for requests that related to fire, health and safety, Interreg and beach wardens for whom a more general sanction was given. Based on the...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Oct 2009)

Brian Lenihan Jnr: I am not aware of any irregularities regarding the clearing time for cheques in Ireland. I should explain that the clearing system in Ireland is governed by private arrangements between the participating institutions, operating under the aegis of the Irish Payment Services Organisation (IPSO). The clearing cycle for a cheque should in normal circumstances take no more than three business...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Oct 2009)

Brian Lenihan Jnr: In the context of the recapitalisation, AIB and Bank of Ireland made specific commitments on lending. I am pleased to say that the measures taken to date by the recapitalised banks, including those relating to lending, are outlined in the supplementary booklet on NAMA. I would direct the Deputy to Section 4 of that booklet. The Credit Supply Clearing Group under the aegis of the Minister...