Results 14,861-14,880 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (12 Oct 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that with regard to vehicle registration tax (VRT), Section 131 of the Finance Act 1992 requires that vehicles used by State residents must be registered in the State. However, there are a number of occasions where an exemption or relief from the payment of VRT tax may apply. One such relief in respect of VRT and VAT, subject to certain conditions,...

Written Answers — Tax Code: Tax Code (12 Oct 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that they are not in a position to determine the appropriate tax treatment of the transactions referred to by the Deputy until the full facts and circumstances have been established and made available to them. If any of the milk suppliers involved wishes to obtain clarification of the matter, I suggest he or she arranges for full details of the...

Written Answers — Tax Yield: Tax Yield (12 Oct 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the latest available information is a distribution of personal income derived from income tax returns filed for the income tax year 2008. On this basis, the information requested by the Deputy is set out in the following table.

Written Answers — Tax Code: Tax Code (12 Oct 2010)

Brian Lenihan Jnr: The Commission on Taxation was established in 2008 to carry out a comprehensive review of the tax system. It submitted its report in September 2009. The report has a total of 250 individual recommendations covering income tax, capital, corporation, property and carbon taxes. A comprehensive overview of the Commission's recommendations was prepared by my Department for the Tax Strategy...

Written Answers — National Lottery: National Lottery (12 Oct 2010)

Brian Lenihan Jnr: The National Lottery Licence expires at the end of 2011. A decision has not yet been taken regarding the timing of a process for the award of a new licence.

Written Answers — Illicit Trade in Tobacco: Illicit Trade in Tobacco (13 Oct 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 142 and 148 together. I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax, and for tackling the illicit trade in cigarettes and tobacco products, that there is no internationally recognised method for precisely determining the amount of tax lost as a result of the illicit trade in cigarettes. However, on...

Written Answers — Budget Statement: Budget Statement (13 Oct 2010)

Brian Lenihan Jnr: This question relates to potential Budgetary measures. It is the usual practice for the Minister for Finance not to speculate or comment in advance of the Budget what it will contain and I do not propose to deviate from that practice.

Written Answers — Proposed Legislation: Proposed Legislation (13 Oct 2010)

Brian Lenihan Jnr: The Valuation Act 2001 provides for the valuation of all commercial and industrial property and the Commissioner of Valuation is independent in the performance of his functions under the Act and the making of valuations for rating is his sole prerogative. Under section 28 (4) of the Act, a Revision Officer of the Commissioner may carry out a revision of valuation in relation to a particular...

Written Answers — Tax Code: Tax Code (13 Oct 2010)

Brian Lenihan Jnr: Farmers who are registered for VAT are accountable persons for VAT in respect of all their taxable activities, whether those activities consist solely of farming or both farming and other activities such as the generation of electricity for provision to the national grid. As accountable persons for VAT, they would be entitled to claim input credit for VAT charged on the installation of an...

Written Answers — Tax Code: Tax Code (13 Oct 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that where an individual, who is in receipt of partial rent supplement in respect of the rent due on a property, pays an additional amount of qualifying rent from their own funds for that property, then a claim can be made by that individual under Section 473 Taxes Consolidation Act 1997 for rent credit in respect of the additional sum paid subject...

Written Answers — Tax Yield: Tax Yield (13 Oct 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the information furnished on corporation tax returns does not generally require the yield from a particular sector or sub-sector of economic activity to be identified. In these circumstances the amount of tax revenues collected in respect of the activities specified in the question cannot be readily identified from the overall corporation tax...

Written Answers — Central Bank Reserve: Central Bank Reserve (13 Oct 2010)

Brian Lenihan Jnr: At end-September 2010, the NTMA held some €22 billion, and the National Pensions Reserve Fund €3.3 billion, in cash. The Central Bank reported in its Money and Banking Statistics published on 24 September 2010 that the balance for gold and receivables was €195 million. I am informed by the Bank that it does not hold any reserves in cash.

Written Answers — Disabled Drivers: Disabled Drivers (13 Oct 2010)

Brian Lenihan Jnr: Section 131 of the Finance Act 1992 requires that vehicles used by State residents must be registered. However, there are a number of occasions where an exemption from the payment of VRT tax may apply. One such exemption in respect of VRT and VAT, subject to certain conditions, is provided for in the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations. Statutory...

Written Answers — Tax Code: Tax Code (13 Oct 2010)

Brian Lenihan Jnr: The scheme of capital allowances for the construction or refurbishment of buildings used as private hospitals was introduced in Finance Act 2001 and came into effect in May 2002. As announced in the 2009 Supplementary Budget in April 2009 and reflected in section 8 of Finance Act 2009, the scheme of capital allowances for private hospitals was terminated from 31 December 2009 along with...

Written Answers — Redundancy Payments: Redundancy Payments (13 Oct 2010)

Brian Lenihan Jnr: For reasons of taxpayer confidentiality the Revenue Commissioners do not comment on or provide information on individual cases in relation to either businesses or personal taxpayers. However, by way of general information, the following is the position: The tax code provides for full Income Tax exemption for any statutory redundancy payment made under the 1967 Redundancy Payments Act...

Written Answers — Tax Evasion: Tax Evasion (13 Oct 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that due to their policy of confidentiality as regard taxpayers' affairs it is not possible to supply the information requested.

Written Answers — Tax Collection: Tax Collection (13 Oct 2010)

Brian Lenihan Jnr: I am assuming that by 'tax fugitives' the Deputy means Irish domiciled individuals or Irish citizens claiming to be non-resident for tax purposes. The taxation of individuals in the State is in line with that prevailing in most other OECD jurisdictions, that is to say: - individuals who are resident in the State for tax purposes (based on the number of days of presence in the State) are...

Written Answers — National Debt: National Debt (13 Oct 2010)

Brian Lenihan Jnr: The debt servicing interest costs for the period from 2007-2011 are set out in the table. The figures for 2010 and 2011 are the Budget 2010 projections. It has been signalled publicly by my Department that debt interest costs in 2010 will be approximately €350 million lower than was forecast at Budget time. The estimated 2010 outturn and 2011 forecast are currently being revised by my...

Written Answers — National Asset Management Agency: National Asset Management Agency (13 Oct 2010)

Brian Lenihan Jnr: The actual discounts on the remaining NAMA transfers will only be known to 100% accuracy following the completion of loan by loan due diligence and the valuation exercise by NAMA. The NAMA discounts quoted by me in my statement of 30th September were estimated by NAMA taking account of the detailed loan-by-loan data available to the agency from the transfer of the first two tranches and...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (13 Oct 2010)

Brian Lenihan Jnr: The Deputy should note that only dated subordinated debt was covered by the original State Guarantee. Perpetual subordinated debt was excluded. The overriding concern in the weeks before the State Guarantee was to preserve the stability of the entire banking system at a time when it was at serious risk of collapse. Given the highly volatile state of international financial markets in...