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

Written Answers — Tax Code: Tax Code (12 Jan 2011)

Brian Lenihan Jnr: As I announced in the recent Budget, the Business Expansion Scheme (BES) is being replaced by the new Employment and Investment Incentive (EII). Under the new incentive, the lifetime limit that can be raised by companies will be increased from €2 million to €10 million, and the amount that can be raised in any twelve month period will be increased from €1.5 to €2.5 million. The...

Written Answers — National Recovery Plan: National Recovery Plan (12 Jan 2011)

Brian Lenihan Jnr: The National Recovery Plan 2011-2014 was published on 24 November 2010 and provides a blueprint for a return to sustainable growth in the Irish economy. In particular, the Plan sets out the measures that will be taken to restore order to our public finances. Adjustments of nearly €15 billion have already been implemented over the past two and a half years and, as the recent end-2010...

Written Answers — Insurance Industry: Insurance Industry (12 Jan 2011)

Brian Lenihan Jnr: I am considering how best to implement the commitment contained in the National Recovery Plan 2011-2014 to identify further ways to tackle increases in insurance costs, building on the achievements of the Personal Injuries Assessment Board (PIAB). The experience of the PIAB suggests that significant savings can be achieved compared with the prior adversarial approach and I am anxious that...

Written Answers — Ministerial Appointments: Ministerial Appointments (12 Jan 2011)

Brian Lenihan Jnr: As I advised the House on 21 October 2010, the Government has approved the appointment of a Chief Information Officer. Work has been underway in my Department to give effect to this decision. This work includes consultations with other Departments on the precise terms of the job description. Once this has been completed the actual recruitment process will commence.

Written Answers — Tax Code: Tax Code (12 Jan 2011)

Brian Lenihan Jnr: In accordance with section 55 of the Finance (No.2) Act 2008, an air travel tax is levied on air travel. Subject to some exceptions, the tax is charged at the rate of €2 per passenger in the case of a flight from an airport in the State to another airport located not more than 300 kilometres from Dublin Airport and at the rate of €10 per passenger in all other cases. The yield from the...

Written Answers — Tax Code: Tax Code (12 Jan 2011)

Brian Lenihan Jnr: I propose to take Questions Nos. 295 and 296 together. I have no plans to exempt any sector from the carbon tax or to introduce a special low excise fuel scheme for the haulage industry. The only reliefs from the carbon tax are for those companies that participate in the EU Emissions Trading System (ETS).

Written Answers — Illicit Trade in Fuel: Illicit Trade in Fuel (12 Jan 2011)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners, who are responsible for the collection of mineral oil tax and for tackling the illicit trade in mineral oil products that they are aware of the various illegal activities that lead to a loss to the Exchequer of mineral oil tax. The most serious risk in this regard is the large scale laundering of markers from mineral oil, [including marked ultra...

Written Answers — Tax Code: Tax Code (12 Jan 2011)

Brian Lenihan Jnr: I do not accept that the air travel tax has a material impact on tourism numbers. Prospective visitors will base their choice of destination on a range of issues. These will include the cost of travelling to a destination but are more likely to be influenced by the cost structure within that destination, and the range of activities and visitor attractions on offer. However, taking account...

Written Answers — Tax Code: Tax Code (12 Jan 2011)

Brian Lenihan Jnr: The tax exemption for patent income has been in place for over 30 years and has applied to income received by an individual or company from a qualifying patent subject, since 2008, to an annual limit of €5 million. A tax exemption has also applied, subject to certain conditions, to distributions paid by companies from exempt patent income. These exemptions have been abolished with effect...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (12 Jan 2011)

Brian Lenihan Jnr: The recent €3.7 billion investment in AIB was made only after the High Court, on my application, made a direction order to AIB for the issuance of additional share capital in the Bank to ensure that the bank continued to meet its capital requirements as prescribed by the Central Bank. The direction order was made in accordance with the provisions of Section 9 of the Credit Institutions...

Written Answers — Tax Code: Tax Code (12 Jan 2011)

Brian Lenihan Jnr: The position is that the Universal Social Charge applies to all emoluments of an employment, including anything treated as a taxable benefit-in-kind. The Universal Social Charge is applied to aggregate income before granting relief in respect of pension contributions. In this regard, an individual's personal contributions to a personal retirement savings account (PRSA), personal pension...

Written Answers — Tax Code: Tax Code (12 Jan 2011)

Brian Lenihan Jnr: The Deputy's proposal favours tax revenue being solely based on usage of a car, through fuel consumption, rather than ownership upon which motor tax is determined. This is often argued as the most favourable option from an environmental perspective as it embraces the 'polluter pays principle'. In an Irish context motor tax revenue is allocated to local authorities so this complicates the...

Written Answers — Tax Code: Tax Code (12 Jan 2011)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. In so far as the supply of printed matter is concerned, three different rates may apply. The general position is that books are zero-rated, newspapers and periodicals are subject to VAT at the reduced rate (currently 13.5%)...

Written Answers — Tax Code: Tax Code (12 Jan 2011)

Brian Lenihan Jnr: I propose to take Questions Nos. 304 and 307 together. The changes to section 23-type reliefs announced in the Budget and which are contained in Financial Resolution No. 20 are broadly as follows. Firstly, for chargeable periods ending on or after 1 January 2011, section 23-type relief will be restricted to set-off against rental income only from the section 23 property itself. Up until now...

Written Answers — Tax Code: Tax Code (12 Jan 2011)

Brian Lenihan Jnr: The National Recovery Plan contains proposals for changes to the tax and other relief arrangements for private or supplementary pension provision over the period of the Plan, including a gradual reduction to standard rate income tax (20%) relief on employee/individual contributions to pension arrangements commencing in 2012. Pension contributions are made by certain employees in both the...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (12 Jan 2011)

Brian Lenihan Jnr: I have been informed that information given to my Department by Bank of Ireland to the effect that no performance related bonuses were paid to staff was incorrect. It did not take account of contractual bonuses which probing by my Department revealed did in fact have a performance element. This failure by the bank led to erroneous information being placed on the Dáil record on 1 December...

Written Answers — Legal Services: Legal Services (12 Jan 2011)

Brian Lenihan Jnr: I propose to take Question Nos. 308 and 310 together. In general, My Department uses the Services of the Office of the Attorney General and the Office of the Chief State Solicitor. However it seek outside legal advisors in circumstances requiring legal services of a specific nature. The costs associated with the Office of the Attorney General and Office of the Chief State Solicitor are borne...

Written Answers — Legal Proceedings: Legal Proceedings (12 Jan 2011)

Brian Lenihan Jnr: In the time available it has not been possible to collate all the data requested by the Deputy. As soon as this process has been completed the information will be forwarded directly to the Deputy.

Written Answers — Departmental Expenditure: Departmental Expenditure (12 Jan 2011)

Brian Lenihan Jnr: The savings of approximately €4 billion announced by the Government in the National Recovery Plan 2011 – 2014 are allocated across each Department and Office in the 2011 Budget, with details set out in the 2011 Budget Estimates. The €4 billion savings will accordingly be delivered in full by each Department and Office in 2011 as part of the normal process of expenditure management.

Written Answers — Economic Competitiveness: Economic Competitiveness (12 Jan 2011)

Brian Lenihan Jnr: I propose to take Questions Nos. 312 and 315 together. The standardised methodology for monitoring relative competitiveness across the euro area is the Harmonised Competitiveness Indicator (HCI). While it cannot be denied that Ireland had its competitive edge eroded relative to our European peers, as a country we are regaining this competitiveness. Since mid-2008, the Harmonised...