Results 4,641-4,660 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — National Asset Management Agency: National Asset Management Agency (24 Nov 2009)

Brian Lenihan Jnr: It will only be possible to determine the eligible assets for transfer to NAMA following the enactment of the NAMA legislation. This will allow for the designation of participating institutions and the designation of eligible assets among other issues. Then the valuation methodology, which is subject to EU approval, will be applied by NAMA on an asset by asset basis to determine the valuation...

Written Answers — Public Service Pay: Public Service Pay (24 Nov 2009)

Brian Lenihan Jnr: The earnings link, or 'pay parity' basis for post-retirement increases, is a feature of Irish public service schemes. In the Civil Service increases in pensions are awarded at the discretion of the Minister for Finance under Regulations made by him under Section 29 of the Pensions (Increase) Act 1964. The Act does not prescribe what form the increases should take or how they should be...

Written Answers — Irish Language: Irish Language (24 Nov 2009)

Brian Lenihan Jnr: The costs of translating and printing documents into Irish in respect of the Department of Finance and the bodies under the aegis of my Department are provided in the tables below. Information is provided for 2008 and for 2009 to date. In the majority of cases documents are published electronically and available for printing as required. Department of Finance Year 2008 Cost of translating...

Written Answers — Property Agreement: Property Agreement (24 Nov 2009)

Brian Lenihan Jnr: The agreement to which the Deputy refers has been in operation in a formal, legal sense since August 1979. The property in question was placed in the ownership of a Trust at that time. The Commissioners of Public Works, in a corporate capacity, are one of the trustees. The Trust, however, has not had an involvement in the day-to-day operation and management of the property, and the...

Written Answers — Banking System Regulation: Banking System Regulation (24 Nov 2009)

Brian Lenihan Jnr: I, as Minister for Finance, have no role in relation to the setting of mortgage interest rates, nor does the Financial Regulator. The pricing of fixed rate mortgages by lending institutions would normally be based on institutions own cost of obtaining fixed rate funding for the period in question plus a margin. The actual cost of funds for each institution cannot be assessed on a mortgage by...

Written Answers — Tax Yield: Tax Yield (24 Nov 2009)

Brian Lenihan Jnr: Corporation tax revenue in 2008 totalled €5.1 billion. The Supplementary Budget published last April forecast that corporation tax receipts would total approximately €3.7 billion in 2009 and €3.8 billion in 2010. At the end of October 2009, €2.8 billion in corporation tax receipts had been collected, which was €255 million ahead of target. November is a key month for tax revenue, in...

Written Answers — Tax Yield: Tax Yield (24 Nov 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the estimated proportion of the total PAYE yield paid by public sector employees was 28% in 2007 and 29% in 2008. The corresponding proportions of total income tax are 21% for 2007 and 22% for 2008. The sector identifier used on the tax records is based on the 4-digit NACE code (Rev. 1), which is an internationally recognised economic activity...

Written Answers — Tax Yield: Tax Yield (24 Nov 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the information requested is not readily available and either could not be obtained or could not be obtained without conducting a protracted examination of the Revenue Commissioners' records.

Written Answers — Tax Collection: Tax Collection (24 Nov 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 156 and 157 together. Figures providing a breakdown of refunds of income tax (non-PAYE) and corporation tax and in 2009 to-date are set out in the following tables. Refunds of tax associated with losses are not separately identifiable from refunds made for other reasons. Income Tax– refunds in 2009 to-date by income tax year Income Tax Year Total Refund...

Written Answers — Tax Code: Tax Code (24 Nov 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the estimated cost to the Exchequer in a full year of a reduction in the reduced and standard rates of VAT by 0.5%,1%,1.5%, 2%, 2.5%, 3% and 4% is as follows: Reduced VAT Rate of 13.5% Reduction New Rate Cost €m 0.5% 13% -127 1% 12.5% -253 1.5% 12% -380 2% 11.5% -454 2.5% 11% -528 3% 10.5% -602 4% 9.5% -751 It should be noted that...

Written Answers — National Asset Management Agency: National Asset Management Agency (24 Nov 2009)

Brian Lenihan Jnr: As the Deputy will be aware, the institutions referred to were specified as covered institutions under the bank guarantee Scheme, established pursuant to the Credit Institutions (Financial Support) Act 2008. The systemic importance of each institution covered by the Scheme was confirmed by the Governor of the Central Bank, and the Scheme was approved by the European Commission under EU State...

Written Answers — Departmental Properties: Departmental Properties (24 Nov 2009)

Brian Lenihan Jnr: I have been informed by the Office of Public Works that they manage 458 leases, with an annual rent of â'¬10,000 and above, involving 380 buildings that are either wholly or part leased on behalf of the State. The type of buildings leased comprises mostly office accommodation but also includes stores, Garda Stations, etc. The rental bill for 2009 is â'¬120m. The attached table...

Written Answers — Tax Code: Tax Code (24 Nov 2009)

Brian Lenihan Jnr: Consultations between my Department and the Department of the Environment, Heritage and Local Government with regard to the implementation of the levy are well advanced and details of its introduction will be announced shortly. Experience gained with the initial implementation of the levy will then be used to inform any further development of measure; in the absence at present of such...

Written Answers — Tax Code: Tax Code (24 Nov 2009)

Brian Lenihan Jnr: With regard to framing Budget policy, you will appreciate that it is the usual practice for the Minister for Finance not to speculate or comment in advance of the Budget on what it will contain and I do not propose to deviate from that practice.

Written Answers — Tax Code: Tax Code (24 Nov 2009)

Brian Lenihan Jnr: I have been informed by the Revenue Commissioners that they have no basis for estimating the yield from the proposal. In that light I cannot comment on the possibility of ring-fencing the funds for a particular use. Imposing a flat levy on sugary foods and drinks, irrespective of their weight or size, could in fact encourage people to buy larger products, as the levy would be a smaller...

Written Answers — National Asset Management Agency: National Asset Management Agency (24 Nov 2009)

Brian Lenihan Jnr: As Minister for Finance I will have no role in the appointment of staff to the National Asset Management Agency (NAMA). The legislation to establish NAMA includes detailed provisions on the staffing of NAMA including the assignment of staff to NAMA from the NTMA. Pages 22 - 24 of the NAMA draft business plan set out details on the proposed level of staffing in NAMA and the allocation of staff...

Written Answers — Tax Code: Tax Code (24 Nov 2009)

Brian Lenihan Jnr: The purpose of the new windfall gains provisions is to apply a higher 80% rate of tax to the profits or gains from land disposals where those profits or gains are attributable to a rezoning decision by a local authority rather than to any value attributable to the work of the landowner. Rezoning is defined in the new provision as meaning a change in the zoning of land in a development plan or...

Written Answers — Tax Code: Tax Code (24 Nov 2009)

Brian Lenihan Jnr: As the Deputy will be aware the potential yield in 2010 of a carbon tax depends on a number of factors and assumptions including the coverage of the tax, the timing and phasing of its introduction, and the level of exemptions, if any, provided. These issues relate to a potential Budgetary measure. In that context I would point out that it is the usual practice for the Minister for Finance not...

Written Answers — Tax Code: Tax Code (24 Nov 2009)

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% could be in the region of €10 million, €20 million, €30 million, €40 million and €50 million respectively. However, it should be noted that this estimate is based upon an assumption that there would be no behavioural...

Written Answers — Tax Yield: Tax Yield (24 Nov 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 168 and 184 together. I assume that the Deputy is referring to the Anti-Contraband and Anti-Counterfeit Agreements concluded between the European Community together with participating Member States and Philip Morris International (PMI) and Japan Tobacco International (JTI) on 9 July 2004 and 14 December 2007 respectively. These agreements provide a legal...