Results 2,181-2,200 of 16,537 for speaker:Brian Lenihan Jnr

Seanad: Central Bank Reform Bill 2010: Second Stage (6 Jul 2010)

Brian Lenihan Jnr: The Senator should read what the report-----

Written Answers — Mortgage Lending: Mortgage Lending (6 Jul 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 116 and 125 together. Mortgage indemnity insurance products allow lenders to reduce their exposure in the event of a default. They provide protection, typically, to the lender and not the borrower. As against this, they would reduce the systemic risk of high loan to value loans. Like other insurance products, they have a premium so making such insurance...

Written Answers — Tax Code: Tax Code (6 Jul 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 117 and 119 together. I can confirm that my Department has received many submissions in respect of the carbon tax including from the Solid Fuel Trade Group. I am happy to outline to the Deputy the current situation on the implementation of the carbon tax, at a rate of €15 per tonne, which I announced in the Budget last December. The first phase involved...

Written Answers — Tax Code: Tax Code (6 Jul 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the application for refund was furnished in November 2009 but, because of the requirement to furnish supporting evidence and delays in the re-submission of the application under the new stamping system introduced in December 2009, the application was not considered until May 2010. Revenue regrets the delay in processing the application, but can...

Written Answers — Consultancy Contracts: Consultancy Contracts (6 Jul 2010)

Brian Lenihan Jnr: In general, it is national policy to advertise public contracts, to invite tenders and award contracts in a process that is transparent and achieves best value for money. Under EU rules, contracts for supplies and services above certain thresholds must be advertised EU wide. The thresholds are currently €125,000 for the Central Government sector and €193,000 for most other authorities....

Written Answers — Fiscal Policy: Fiscal Policy (6 Jul 2010)

Brian Lenihan Jnr: As the Deputy is aware, it is not the usual practice to comment on any possible changes in taxation prior to the annual Budget.

Written Answers — Tax Code: Tax Code (6 Jul 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the full year cost to the Exchequer of reducing the rate of VAT charged on non-oral medicines from the current rate of 21% to 13.5%, 5% and the zero rate is estimated to be €30 million, €64 million and €83 million respectively. As the Deputy will be aware, Member States must apply a standard rate of VAT, and may opt to also apply one or...

Written Answers — Israeli Imports: Israeli Imports (6 Jul 2010)

Brian Lenihan Jnr: According to data published by the Central Statistics Office, Ireland imported merchandise goods to the value of €82.3 million from Israel in 2009. Slightly over 40% received preferential treatment. While the remainder did not qualify for preferential treatment, it does not mean the goods were produced in illegal settlements since a large quantity of goods in this category have a zero rate...

Written Answers — Financial Services Regulation: Financial Services Regulation (6 Jul 2010)

Brian Lenihan Jnr: I recently received the first quarterly from the Credit Reviewer, Mr. John Trethowan. This report includes, amongst other things, the information which the Deputy has sought in the parliamentary question. I can confirm that numbers of reviews to date are quite low. I intend bringing the report to Government and will lay it before the House as soon as possible after that. I will ensure that...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Jul 2010)

Brian Lenihan Jnr: As the Deputy is aware, the following institutions were required under state aid rules to submit restructuring plans following receipt of state aid and the plans were submitted on the following dates: Bank of Ireland Plan - 30 September 2009, Allied Irish Banks Plan - 13 November 2009 Anglo Irish Bank Plan - 30 November 2009 EBS plan - 31 May 2010 INBS plan - 22 June. Considerable discussion,...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Jul 2010)

Brian Lenihan Jnr: The Financial Regulator has determined that AIB must raise additional equity capital of at least €7.4 billion by the end of the year to meet the new base case capital standards. As the first step in meeting its capital needs AIB has commenced the process of sale of overseas assets. The disposal proceeds will provide significant capital but will not be sufficient to address the full...

Written Answers — Fiscal Policy: Fiscal Policy (6 Jul 2010)

Brian Lenihan Jnr: The Deputy will be aware that the following reviews were carried out in 2005 and 2006 as follows (1) Indecon Review of Property-based Tax Incentive Schemes; (2) Goodbody Review of Area-Based Tax Incentive Schemes and (3) an Internal Review of Certain Tax Schemes by the Department of Finance. Furthermore Goodbody Economic Consultants carried out a review of the Proposed Shannon Corridor...

Written Answers — Tax Code: Tax Code (6 Jul 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the relevant information available on the amount of stud fees exempted from taxation from both stallions and greyhounds is based on personal income tax returns filed by non-PAYE taxpayers and corporation tax returns filed by companies for the years 2004 to 2008, the latest year for which it is available. These are set out in the following table:...

Written Answers — Tax Collection: Tax Collection (6 Jul 2010)

Brian Lenihan Jnr: The Financial Emergency Measures in the Public Interest Act 2009 does not apply to the Judiciary for constitutional reasons. However, arrangements were put in place on an administrative basis between the Chief Justice and the Revenue Commissioners in April 2009 to facilitate voluntary payments by members of the Judiciary in the context of the pension related deduction scheme. I have no...

Written Answers — Tax Collection: Tax Collection (6 Jul 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that for reasons of taxpayer confidentiality, they do not comment or provide details on individual cases except as provided for by law. The settlement of €799,928 paid by Donegal County Council arising from a Revenue audit was published in Iris Oifigiúil in respect of the period beginning on 1 January 2010 and ending on 31 March 2010. The...

Written Answers — Tax Collection: Tax Collection (6 Jul 2010)

Brian Lenihan Jnr: The Deputy will be aware that Finance Act 2010 introduced significant changes to modernise and simplify the probate process and Capital Acquisitions Tax (CAT). One of the key changes is to the filing of CAT returns (Forms IT38). A new simplified paper form has been developed and may be used where the following conditions are met: no relief/exemption/credit is claimed, apart from the small...

Written Answers — Tax Code: Tax Code (6 Jul 2010)

Brian Lenihan Jnr: The rates of Stamp Duty in respect of non first time buyers of new and second hand houses (including apartments) are set out in the following table. Consideration/Value Rate of Duty First €125,000 Nil Next €875,000 7% Excess over €1,000,000 9% Transactions for residential property, where the consideration (or the aggregate consideration) does not exceed €127,000, are exempt from...

Written Answers — Tax Code: Tax Code (6 Jul 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the necessary basic data are not currently available in such a manner as to provide a basis for compiling the information requested by the Deputy.

Written Answers — Tax Yield: Tax Yield (6 Jul 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the necessary basic data are not currently available in such a manner as to provide a basis for compiling the information requested by the Deputy.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Jul 2010)

Brian Lenihan Jnr: The Financial Regulator has advised me of the arrangements that are in place for Halifax current account and savings account customers to reclaim any money owed. As regards closing a current account, Halifax requires written confirmation from the customer either by letter or by completing a closure form. Any credit balances or credit interest due to customers will be returned as part of...