Results 2,541-2,560 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer from increasing the Capital Acquisitions Tax rate by 1%, 2%, 3%, 4% or 5%, based on the Budget estimate of €240 million for 2010, could be in the region of €9.5 million, €19 million, €29 million, €38 million and €48 million respectively. It should be noted that this estimate is based...

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the estimated full year gain from increasing the rate of Capital Gains Tax (CGT) by 1% is €16 million; by 2% is €32 million; by 3% is €48 million; by 4% is €64 million; and by 5% is €80 million. These estimates assume no behavioural changes on the part of taxpayers. CGT is very dependent on individual behaviour and a change in rate may...

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: I am informed by the Commission for Communications Regulation (ComReg) that no projections are made for mobile telephone usage, whether calls or texts. The only basis for estimating the yield from a tax on text messages is the figures for mobile telephone usage per quarter supplied by the companies to ComReg. In the 12 months to end December 2009, the last 12 month period for which figures...

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: It is assumed that the imposition of a cap of €50,000 as mentioned in the question would have the effect of withdrawing the tax exemption from all qualifying income in excess of €50,000. On this basis, I am advised by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to the claims for the exemption made in income tax returns for the tax year 2007,...

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the most recent year for which the necessary detailed information is available regarding tax relief for trade union subscriptions is the income tax year 2006, in which the cost to the Exchequer is estimated at approximately €19 million. On this basis, the full year yield to the Exchequer of abolishing tax relief for trade union subscriptions...

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that estimates of the full year cost to the Exchequer of tax reliefs for heritage items and property are reproduced in the following table. Heritage Relief Year Cost €m Payment of tax by means of donation of heritage items. 2009 0.7 Payment of tax by means of donation of heritage property to the Irish heritage trust. 2009 0 Income tax relief...

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: I propose to takes Questions Nos. 156 to 158, inclusive, together. The implementation of the pay reductions provided for under the Financial Emergency Measures in the Public Interest (No. 2) Act, 2009 substantially altered the range of earnings of public servants to that which applied in 2009. The estimates sought by the Deputy are based upon the pay reductions implemented with effect from 1...

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: It is estimated that the abolition of performance related awards in the public service would yield approximately €8.0 million in 2010 and 2011.

Written Answers — Tax Code: Tax Code (15 Jun 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that based on personal income tax returns filed by non-PAYE taxpayers for the year 2008, the latest year for which this information is available, the amount of tax foregone by allowing a deduction for interest on borrowings to be offset against rental income assessable under Case V, Schedule D is estimated to have been of the order of €1,150...

Written Answers — Tax Code: Tax Code (15 Jun 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the relevant information available on the cost to the Exchequer of all property related tax schemes is based on personal income tax returns filed by non-PAYE taxpayers and corporation tax returns filed by companies for the year 2008, the latest year for which this information is available. These are set out in the following table: Scheme 2008...

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 162 to 165, inclusive, together. I am informed by the Revenue Commissioners that the full year yields arising from the increases requested, inclusive of VAT, are as set out in the following table. 1 cent, inclusive of VAT 5 cent, inclusive of VAT 10 cent, inclusive of VAT 50 cent, inclusive of VAT Est Yield €m Est Yield €m Est Yield €m Est...

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 166 and 167 together. I am informed by the Revenue Commissioners that the estimated full year yield to the Exchequer from Mineral Oil Tax in respect of petrol and auto-diesel at the stated increases, inclusive of VAT, is as follows: Excise DutyIncrease (inclusive of VAT) Estimated Yieldfor Petrolâ'¬m Estimated Yieldfor Auto-dieselâ'¬m 5 cent 86.9 96.0...

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: The existing restriction of reliefs, or horizontal measure is activated where individuals have an adjusted income of €125,000 and claim specified reliefs of €80,000 or more. Those subject to the full restriction, at adjusted incomes of €400,000 or greater, will pay an effective income tax rate of 30% in addition to PRSI and levies. The list of specified reliefs that are subject to the...

Written Answers — Tax Code: Tax Code (15 Jun 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the most recent year for which the necessary detailed information is available regarding the rent relief for private accommodation scheme is the income tax year 2006, in which the cost to the Exchequer is estimated at approximately € 64 million. On this basis, the full year yield to the Exchequer of abolishing the rent relief for private...

Written Answers — State Banking Sector: State Banking Sector (15 Jun 2010)

Brian Lenihan Jnr: As the Deputy is aware under the Relationship Framework the day-to-day operations of the bank are the responsibility of the Board of Anglo Irish Bank. In view of this it is the responsibility of the Bank to ensure that the content on the website is regularly reviewed and changed in response to the changing business environment facing the Bank. Some of the content highlighted by the Deputy...

Written Answers — Tax Code: Tax Code (15 Jun 2010)

Brian Lenihan Jnr: I understand that the Deputy is referring to the tax treatment of disablement payments from the Department of Social Protection. The position is that where the Department of Social Protection pays a disablement pension to an individual, such pension is taxable. However, where the Department of Social Protection does not pay a disablement pension to an individual but instead pays that...

Written Answers — Tax Yield: Tax Yield (15 Jun 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the amount of tax payable, on a price range of cars valued between €15,000 and €45,000 as requested, for each of the CO2 Emissions Categories is shown in the table below. CO2 Emissions 0-120g 121-140g 141-155g 156-170g 171-190g 191-225g 226g and Over VRT Rate 14% 16% 20% 24% 28% 32% 36% € € € € € € € Sample...

Written Answers — Motor Fuels: Motor Fuels (15 Jun 2010)

Brian Lenihan Jnr: In early January 2010 petrol was on average around 122.9 cent per litre and auto-diesel 114.9 cent per litre. Currently they are around 133.9 and 124.9 cent per litre respectively. The carbon tax, inclusive of VAT, amounted to around 4.2 cent in the case of petrol and 4.9 cent on auto-diesel. However it should be noted that the carbon tax applied to such fuels released from warehouse after...

Written Answers — Tax Code: Tax Code (15 Jun 2010)

Brian Lenihan Jnr: CHP is an energy efficient process that I have supported through the introduction of generous tax reliefs such as capital allowances and consequently I do not think it appropriate to put in place a further tax subsidy. We need to ensure the carbon tax has a broad base and I don't want to undermine that principle. I would also like to point out that a long-term impact of the carbon tax will...

Written Answers — Tax Code: Tax Code (15 Jun 2010)

Brian Lenihan Jnr: It is estimated that the carbon tax, inclusive of VAT, will yield approximately €250 million in 2010. The revenue will, amongst other things, be used to boost energy efficiency, to support rural transport and to alleviate fuel poverty. It is the general practice not to ring-fence revenues for specific purposes but rather take an overall view on priorities in the context of Expenditure...