Results 2,681-2,700 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tobacco Smuggling: Tobacco Smuggling (26 May 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco taxes and for tackling the illicit trade in tobacco products, that it is not possible to provide a reliable estimate of tobacco consumption on which duty has not been paid. This is because there is no proven internationally recognised method for determining this figure. Accordingly there is no...

Written Answers — Pension Provisions: Pension Provisions (26 May 2010)

Brian Lenihan Jnr: The basis for the Pensions Insolvency Payment Scheme (PIPS) is set out in the Social Welfare and Pensions Act 2009. The principal qualifying conditions are that the sponsoring employer must be insolvent (in accordance with the definition used in the Protection of Employers (Employers' Insolvency) Act 1984) and that the defined benefit pension scheme must be winding up in deficit – the...

Written Answers — Local Authority Charges: Local Authority Charges (26 May 2010)

Brian Lenihan Jnr: Under the provisions of the Tax Acts, a person in receipt of rental income is assessed to income tax on the net amount of the rents received (i.e. the gross rents less allowable expenses incurred in earning those rents). In computing the net amount of the rents received, only those deductions that are specified in section 97(2) of the Taxes Consolidation Act 1997 are allowable. The main...

Written Answers — Proposed Legislation: Proposed Legislation (26 May 2010)

Brian Lenihan Jnr: I assume that the concerns of the credit unions, to which the details supplied by the Deputy refer, relate to amendments to Section 35 of the Credit Union Act 1997 contained in the Central Bank Reform Bill 2010. Section 35 of the Credit Union Act 1997 imposes limits on credit unions in relation to longer-term lending. The restrictions contained in Section 35 are an important asset and...

Written Answers — Pension Provisions: Pension Provisions (26 May 2010)

Brian Lenihan Jnr: Tax relief on individual pension contributions is currently allowed at the taxpayer's marginal income tax rate, that is, at the standard or higher rate of income tax as appropriate in each case. Tax relief at 33% would result in a reduction in the tax relief on pension contributions available to higher rate taxpayers and an additional incentive to pension savings for standard rate taxpayers....

Written Answers — Pension Provisions: Pension Provisions (26 May 2010)

Brian Lenihan Jnr: I assume the Deputy is referring to the Standard Fund Threshold in respect of which Budget and Finance Act 2006 introduced a maximum allowable pension fund on retirement for tax purposes. A limit of €5 million was placed on the total capital value of pension benefits that an individual can draw upon in their lifetime from tax-relieved pension arrangements. This is known as the Standard...

Written Answers — Pension Provisions: Pension Provisions (26 May 2010)

Brian Lenihan Jnr: In my 2010 Budget Statement I said that I accepted the Commission on Taxation's recommendation that retirement lump sums below €200,000 should not be taxed. I further indicated that the tax treatment of retirement lump sums above €200,000 would be considered in the Government's National Pensions Framework. This position is reflected on page 41 of the Framework document published in...

Written Answers — Tax Collection: Tax Collection (26 May 2010)

Brian Lenihan Jnr: I have been informed by the Revenue Commissioners that the person in question is a self-assessed individual. To determine their tax liability and avail of the appropriate credits in relation to themselves and their spouse, they should complete and return the Form 11 for the year 2008, which was issued to the taxpayer on 30 November 2008. A copy of the form may be obtained by telephoning the...

Written Answers — Tax Code: Tax Code (25 May 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the rate of VAT on the supply of insemination services is 13.5%, regardless of the form of the service. The various rates mentioned to by the Deputy appear to refer to the different systems of VAT operating for farmers depending on whether they are registered for VAT or not. A farmer who is registered for VAT must charge VAT on the supply of...

Written Answers — Tax Code: Tax Code (25 May 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 114 and 116 together. I announced in the Budget that a carbon tax at a rate of €15 per tonne is being introduced on fossil fuels. The tax was applied to petrol and auto-diesel with effect from midnight, 9 December 2009; and applied from 1 May 2010 to kerosene, marked gas oil (also known as 'green diesel' or 'agricultural diesel'), liquid petroleum gas...

Written Answers — Tax Collection: Tax Collection (25 May 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the person in question made a valid claim in respect of medical expenses incurred, however, as this person had paid no income tax during the year in question i.e. 2009, no refund of tax was due.

Written Answers — Tax Code: Tax Code (25 May 2010)

Brian Lenihan Jnr: I announced in the Budget that a carbon tax at a rate of €15 per tonne is being introduced on fossil fuels. The tax was applied to petrol and auto-diesel with effect from midnight, 9 December 2009; and applied from 1 May 2010 to kerosene, marked gas oil (also known as 'green diesel' or 'agricultural diesel'), liquid petroleum gas (LPG), fuel oil and natural gas. The application of the tax...

Written Answers — Tax Yield: Tax Yield (25 May 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 119 and 120 together. I am informed by the Revenue Commissioners that the data available on the amounts of Excise, exclusive of carbon tax, and VAT generated by clearances in the first 4 months of 2009 and 2010 on Petrol and Auto Diesel is as follows. Mineral Oil Tax Receipts – exclusive of carbon tax Petrol 2009 2010 €m €m Jan 129.4 107.2 Feb 81.7...

Written Answers — Tax Yield: Tax Yield (25 May 2010)

Brian Lenihan Jnr: The carbon tax was introduced from midnight, 9 December 2009 in respect of petrol and auto-diesel. I am informed by the Revenue Commissioners that since its introduction, the total receipts from the carbon tax for the period January to April 2010, in respect of petrol and auto-diesel only, is €53.1 million, i.e. €48.4 million from the carbon charge and an estimated €4.7 million in...

Written Answers — Tax Yield: Tax Yield (25 May 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that VAT returns do not require the yield from a particular sector or sub-sector of trade to be identified. The figures provided in this reply for VAT receipts are estimates of the amount of VAT yield that would be generated by the volume of clearances of Auto Diesel and Petrol from January to April 2010. The estimated VAT gain is as follows: ...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (25 May 2010)

Brian Lenihan Jnr: You will be aware that on foot of recapitalisations arising out of NAMA, I am imposing specific lending targets on the main business banks, AIB and Bank of Ireland. They will make available for targeted lending not less than €3 billion each for new or increased credit facilities to SMEs in both 2010 and 2011. The two banks were required to submit SME lending plans both by geography and...

Written Answers — Semi-State Sector: Semi-State Sector (25 May 2010)

Brian Lenihan Jnr: I am as anxious as anyone else to ensure a competitive, efficient semi-state sector. I am not certain that a "Bord Snip" type process would be the most effective way to proceed as the commercial Semi-State Sector for example operates outside the Exchequer and the issue of cost savings is a matter for the management and boards. I have no problem however with Dáil Éireann and its committees...

Written Answers — Tax Code: Tax Code (25 May 2010)

Brian Lenihan Jnr: Services supplied by State bodies, including local authorities, will become subject to VAT from 1 July 2010. This is as a consequence of the European Court of Justice case C-544/07 against Ireland on 16 July 2009, which ruled that Ireland should amend its VAT legislation to provide that State and public bodies are in general subject to VAT. This case goes back to 2004 when infringement...

Written Answers — Tax Collection: Tax Collection (25 May 2010)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that a refund of income tax for 2009 issued to the taxpayer on 14 May 2010.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (25 May 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 127 and 128 together. A sole trader or SME is entitled to seek a review from the Credit Review Office where they consider that the terms or conditions attached to a credit facility or its price are so onerous as to amount to a constructive refusal on the same basis as when an application for credit is actually refused. This applies regardless of whether they...