Results 4,761-4,780 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Property Valuations: Property Valuations (17 Nov 2009)

Brian Lenihan Jnr: The basis of valuation for all commercial property, including hotels, is set out in Part 11 of the Valuation Act, 2001. In arriving at a valuation for any property, the Valuation Office valuer takes account of a range of factors such as location, rental evidence, trading data and the physical characteristics of the building (including floor area). All properties are compared with similar...

Written Answers — Illicit Trade in Tobacco: Illicit Trade in Tobacco (17 Nov 2009)

Brian Lenihan Jnr: I propose to answer Questions Nos. 143, 144 and 151 together. I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and tackling the illicit trade in cigarettes and tobacco products, that the measures taken to tackle cigarette smuggling involve a combination of cargo and passenger profiling, intelligence gathering and mutual assistance...

Written Answers — Property Valuations: Property Valuations (17 Nov 2009)

Brian Lenihan Jnr: The Valuation Act, 2001 which came into effect on 2nd May 2002 provides for the revaluation of all commercial and industrial property. The old valuation lists date from the Griffith Valuation carried out in the 19th century. Maintaining these lists requires the Valuation Office to determine valuations by reference to the values of comparable properties on the same valuation list. The result...

Written Answers — Insurance Industry: Insurance Industry (17 Nov 2009)

Brian Lenihan Jnr: I am aware that there has been an increase in insurance premiums this year. This increase however has to be considered against a backdrop of the continuing stress in the financial markets and the recessionary pressures in the economy which is affecting all financial service providers including the insurance industry. While the Financial Regulator does not maintain statistics on price...

Written Answers — Tax Code: Tax Code (17 Nov 2009)

Brian Lenihan Jnr: The position is that where a company transfers funds into a director's personal bank account, whether such bank account is located inside or outside the State, for the purpose of tax treatment it is necessary to determine firstly the character of the funds transferred. Where the funds transferred represent directors' remuneration, the company must make the appropriate deductions of tax,...

Written Answers — Gross National Product: Gross National Product (17 Nov 2009)

Brian Lenihan Jnr: Gross National Product per capita figures for OECD countries are not available from the OECD. For most OECD countries, Gross Domestic Product (GDP) figures are closely aligned to GNP and are the preferred choice for statistical purposes. In 2008, four out of the OECD's thirty member countries had a GDP per capita in US dollars that exceeded Ireland's: namely Denmark, Switzerland, Norway and...

Written Answers — Tax Code: Tax Code (17 Nov 2009)

Brian Lenihan Jnr: Cohabitating couples are expressly recognised for the purpose of social welfare law but are not recognised for the purposes of income tax law. Although this may appear contradictory, the main aim of both the welfare code and the tax code is to uphold the constitutional right of married couples not to be treated less favourably than unmarried couples. The basis for the current tax treatment...

Written Answers — Tax Collection: Tax Collection (17 Nov 2009)

Brian Lenihan Jnr: This is a matter for the Revenue Commissioners. My Department has no jurisdiction over tax collection matters. I am advised by Revenue that the case in question involves the gift of property from one person to another where the parties apparently agreed that the beneficiary would pay the Capital Gains Tax due in respect of the disposal of property. The position is that, to date, only part...

Written Answers — Pension Provisions: Pension Provisions (17 Nov 2009)

Brian Lenihan Jnr: The rationale for giving various tax reliefs to statutory and Revenue-approved pension savings schemes is to encourage and promote savings over the long term in order that individuals will have an adequate replacement income in old age. Any proposal, however well intentioned, that would allow pre-retirement access by individuals to retirement savings could significantly reduce the quantum of...

Written Answers — Tax Code: Tax Code (17 Nov 2009)

Brian Lenihan Jnr: The Finance (No.2) Act 2008 amended the Value-Added Tax Act 1972 to provide for the introduction of a Travel Agents Margin Scheme. Under this scheme certain travel agents will be liable to VAT in respect of the travel agents margin on their supply of certain services, not in respect of the overall consideration they receive for such services. This scheme, which is provided for in Articles...

Written Answers — Public Service Contracts: Public Service Contracts (17 Nov 2009)

Brian Lenihan Jnr: There is no central record held on the nationality of tenderers who apply for public contracts in Ireland. Statistics on public contracts, including the nationality of the winning tenderers, are collected and compiled for each year. This exercise in regard to a particular year is usually completed by the middle of the following year. Therefore, the information for 2009 is not available at...

Written Answers — Tax Code: Tax Code (17 Nov 2009)

Brian Lenihan Jnr: I assume the Deputy is referring to the recommendation made by the Commission on Taxation that tax relief be only allowed at the standard rate for the expenses associated with the employment of a carer for an incapacitated individual. The recommendation in question will be examined along with the other recommendations of the Commission as part of the preparations for the Budget and Finance Bill.

Written Answers — Public Sector Pay: Public Sector Pay (17 Nov 2009)

Brian Lenihan Jnr: The latest available figures on incomes of public sector employees is derived from income tax returns filed for the income tax year 2007 and representing about 96 per cent of all returns expected at the time the data were compiled for analytical purposes. On this basis the incomes from the employment of public sector employees amounted to close on €15.1 billion. This figure includes the...

Written Answers — Tax Collection: Tax Collection (17 Nov 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that the person concerned is jointly assessed for Income Tax. A PAYE Balancing Statement P21 for the year 2008 together with any refund due will issue to the persons concerned shortly.

Written Answers — Tax Collection: Tax Collection (17 Nov 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that the person concerned is jointly assessed for Income Tax. A PAYE Balancing Statement P21 for the year 2008 together with any refund due will issue to the person concerned shortly.

Written Answers — Tax Collection: Tax Collection (17 Nov 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that a PAYE Balancing Statement P21 for the year 2008 together with any refund due will issue to the person concerned shortly.

Written Answers — Tax Yield: Tax Yield (17 Nov 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the most recently completed historical data available on incomes and tax is in respect of the income tax year 2007. On this basis the information requested in relation to the top 4% of income earners and income quintiles is set out in the following table. To assemble the figures by income quintile, the total number of income earners on the...

Written Answers — Tax Code: Tax Code (17 Nov 2009)

Brian Lenihan Jnr: I refer the Deputy to my response to her of Tuesday 3rd November in relation to question number 387 on the order paper of that day.

Written Answers — Tax Code: Tax Code (17 Nov 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the latest relevant information available is in respect of income tax relief allowed for contributions to Retirement Annuity Contracts (RACs) and Personal Retirement Savings Accounts (PRSAs) for the income tax year 2007. RACs and PRSAs are available to the self-employed and to employees not in occupational pension schemes. The information is...

Written Answers — Tax Code: Tax Code (17 Nov 2009)

Brian Lenihan Jnr: Section 481 of the Taxes Consolidation Act 1997 provides tax relief for investments in qualifying films. A qualifying film is a film for which the Revenue Commissioners have issued a Certificate under Section 481. Further provisions are included in Regulations made by the Revenue Commissioners, with the consent of the Ministers for Finance and Arts, Sport and Tourism. I do not plan to extend...