Results 3,561-3,580 of 16,537 for speaker:Brian Lenihan Jnr

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: The Deputy is referring to second hand cars.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: When a car is bought new it qualifies for scrappage.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: As Deputy Burton pointed out there was an initiative in the early 1990s in section 134 of the Finance Act 1992. It provided a relief on VRT for cars used to service short-term self drive contracts. Part of the difficulty was it had a very unhappy history. Arising from Revenue audits, there was strong evidence that the sector was manipulating contracts to ensure cars used for the provision...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: It was removed last year.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I gave a very detailed reply on the very substantial problems this poses in terms of administration and in terms of providing equality for all those who participate in the business of car hire arrangements. I outlined the practical difficulties that arise. Clearly, there is a difficulty. It is a difficulty which Government must address collectively. One cannot simply use the tax system all...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I understand my officials have circulated an information note on Islamic finance to members of the Select Committee on Finance and the Public Service. On the question of a dispute resolution mechanism, the legislation was framed to encompass various transactions but it must be understood that when it is enacted it will apply to any transaction coming within its terms, irrespective of...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: The Deputy is not on the Committee for Finance and the Public Service.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: The members of the Committee on Finance and the Public Service received the note.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: The Deputy can be assured of it in this instance.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I would like to answer the questions raised by Deputy Burton. She is labouring under a fundamental misapprehension in that we are not making Sharia law the law in Ireland in this legislation. We are talking about Sharia financial transactions. The governing law is Irish law and the dispute resolution mechanism is Irish law. We are not conceding ground to some foreign tribunal or religious...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I accept that and am glad the Deputy has identified those two issues. They happen to be the two issues under examination in my Department. There was a business conference on these matters that included both Islamic and other business interests. They examined the proposals in the Bill and gave them a broad welcome. Deputy Burton's idea of convening a conference to examine the...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I move amendment No. 20: In page 73, between lines 14 and 15, to insert the following: "(g) in section 291A(1)(h) by inserting ", but this paragraph does not relate to a licence within the meaning of section 2 of the Intoxicating Liquor Act 2008" after "intended",". I understood we dealt with this amendment on Committee Stage. Section 41 of the Bill makes a number of amendments to the new...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I am coming to that. It has come to my attention that relief is being sought under the scheme in respect of expenditure which the scheme was not designed in the first place to encompass. The issue concerns the availability of tax relief under the scheme for expenditure incurred on the provision of an excise liquor licence. Since a new liquor licence can only be obtained through the courts...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: To clarify, I flagged this issue on Committee Stage.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: The restriction on intoxicating liquor licences is being introduced because of concerns that there might be a false equation of an intoxicating liquor licence as a form of intellectual property which would qualify for a tax relief. I assume, subject to the ruling of the Chair, that my amendment is in order because it relates to a tax relieving provisions. In regard to head shops, the...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I have a function in that. We are taking steps to deal with the products sold in so-called head shops. In addition, the declaration order under the 1977 Act will include some substances that have legitimate uses as medicines but which can be subject to misuse, as well as certain narcotic and psychotropic substances which Ireland is obliged to bring under control to comply with the relevant...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: The Minister is quite optimistic about the speed with which the relevant determinations will be obtained. It is the case that we need to prohibit these entities rather than simply license them. Nevertheless, I can appreciate the spirit in which the Deputies' proposals were put forward.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I move amendment No. 21: In page 74, to delete lines 12 and 13 and substitute the following: "(2) (a) Paragraphs (a) to (f) and (g) to (i) of subsection (1) apply to expenditure incurred by a company after 4 February 2010. (b) Paragraph (g) of subsection (1) has effect as respects any allowance to be made for an accounting period commencing on or after 1 January 2010.".

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: The intention behind this amendment is that the exemption from corporation tax provided by section 486(c) of the Taxes Consolidation Act 1997 in respect of the income and gains of new start-up companies should be extended to sole traders. Deputies opposite acknowledge that I do not want to go over ground which has already been covered. The rationale was to encourage those who are unemployed...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I agree with Deputy Bruton that we may well have to return to this subject. I am not sure, by the way, that if a person fails three times there would be an extraordinary tax liability as the person might have quite an amount of losses to carry forward. That said, the issue is really the untargeted character of the proposed relief. The distinction between the contract of service and the...