Results 5,321-5,340 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Yield: Tax Yield (3 Nov 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the cost to the Exchequer of mortgage interest relief by way of tax relief at source (TRS) and the associated number of claimants in each of the years 2005 to 2009 inclusive is as follows: Tax Year Numbers Cost €m 2005 587,800 280 2006 668,400 350 2007 720,000 545 2008 750,000* 705 2009 (9 months) not available 365* * These figures are...

Written Answers — Tax Yield: Tax Yield (3 Nov 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 335 to 339, inclusive, together. I am informed by the Revenue Commissioners that the most recent years for which final information is available on the cost to the Exchequer, and the numbers of taxpayers availing, of the tax reliefs mentioned by the Deputy is for the income tax years 2005 and 2006. The relevant figures are shown in the following table. Year...

Written Answers — Tax Yield: Tax Yield (3 Nov 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the cost to the Exchequer of tax relief allowed for medical insurance premia by way of tax relief at source (TRS) and the associated number of policies in each of the years 2005 to 2009 inclusive is as follows: Tax Year Numbers Cost €m 2005 1,073,400 230 2006 1,134,800* 260 2007 1,195,400* 300 2008 1,017,400* 321 2009 (9 months) not...

Written Answers — Tax Yield: Tax Yield (3 Nov 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the most recent years for which final information is available on the cost to the Exchequer, and the numbers of taxpayers availing, of the home carer tax credit is for the income tax years 2005 and 2006. The relevant figures are as follows: Tax Year Estimated cost to the Exchequer €m Estimated numbers availing 2005 64 87,900 2006 62...

Written Answers — Tax Yield: Tax Yield (3 Nov 2009)

Brian Lenihan Jnr: The following tables provide a breakdown of the estimated cost of tax and PRSI reliefs for private pension provision for 2006 and 2007, the latest year for which the most up-to-date data is available. The 2007 figures represent an update of the 2006 cost estimates set out in table 7.2 of the Green Paper on Pensions published in the autumn of 2007. Figures have been rounded where appropriate....

Written Answers — Ministerial Remuneration: Ministerial Remuneration (3 Nov 2009)

Brian Lenihan Jnr: The Taoiseach, Tánaiste, Ministers and Ministers of State have all accepted a voluntary pay cut of 10% in their salaries. Their salaries are also subject to the public service pension levy. If the salaries of all Ministers, including the Taoiseach and Tánaiste, were reduced further to €100,000, and those of Ministers of State to €85,000, the savings arising would be €2.43m in a full...

Written Answers — Ministerial Remuneration: Ministerial Remuneration (3 Nov 2009)

Brian Lenihan Jnr: I understand that the Deputy is referring to domestic motor travel and subsistence arrangements for Ministers and Ministers of State. Ministers of State are reimbursed for official travel up to a limit of 96,540 km (60,000 miles) per annum. Their mileage rates were reduced by 25% from 5 March 2009. Ministers are provided with a State car and Garda drivers and have no expense allowance in...

Written Answers — Semi-State Boards: Semi-State Boards (3 Nov 2009)

Brian Lenihan Jnr: I have approved schemes for the CEOs of some 35 Non Commercial State Sponsored Bodies, with 6 of the larger bodies also having schemes for 2nd level grades. A list of the bodies is set out in the following tables for the information of the Deputy. Once such schemes have been approved all decisions on the making of any such awards for chief executives, and any other senior staff if...

Written Answers — Tax Code: Tax Code (3 Nov 2009)

Brian Lenihan Jnr: Tax relief at the standard rate of tax is available for tuition fees for certain full-time and part-time undergraduate courses of at least two years duration and postgraduate courses of at least one but not more than four years duration. The full definition for approved courses is set out in Section 473A of the Taxes Consolidation Act (TCA) 1997. In order to qualify for the tax relief, the...

Written Answers — Financial Institutions Capitalisation: Financial Institutions Capitalisation (3 Nov 2009)

Brian Lenihan Jnr: I am replying to this question on the basis that the Deputy is referring to the National Pensions Reserve Fund (NPRF) of which the National Treasury Management Agency (NTMA) is currently manager. In March and May 2009, under the terms of the Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009, the National Pensions Reserve Fund Commission invested, at my...

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Nov 2009)

Brian Lenihan Jnr: NAMA is being set up to acquire Land and Development and associated loans from participating institutions. In effect, NAMA will step into the shoes of the lender concerned and take over management of the loans with a view to generating a return over time. NAMA will have no role in relation to compensating developers, large or small, as anticipated in this question. NAMA will be mandated to...

Written Answers — Revenue Investigations: Revenue Investigations (3 Nov 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the investigation covered in the Deputy's question is ongoing. The Inspector of Taxes will be writing to the person's agent within the next week and a substantive reply to this letter with payment of any outstanding liability should allow the Inspector to bring the investigation to a conclusion and facilitate the distribution of the estate.

Written Answers — Tax Collection: Tax Collection (3 Nov 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the latest relevant sector-based information available is derived from income tax returns filed for the income tax year 2007 and is set out in the following table. Distribution of Income Earners for Income Tax Year 2007 Private Sector Employees Public Sector Employees Non-PAYE Range of Gross Income Numbers Tax Numbers Tax Numbers...

Written Answers — Tax Yield: Tax Yield (3 Nov 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 355 and 374 together. I am informed by the Revenue Commissioners that the cost of reducing excise duty on alcohol products by 10%, 20% and 30% for a period of two months as suggested, would be in the region of €18m, €37m and €57m respectively. These estimates include excise and VAT on the excise reduction.

Written Answers — Fiscal Policy: Fiscal Policy (3 Nov 2009)

Brian Lenihan Jnr: With regard to the VAT differential between Ireland and the UK, given the current Exchequer deficit position, the policy decision of increasing the standard VAT rate in Budget 2009 continues to be necessary in order to support the public finances. We are borrowing to fund day to day public services which is unsustainable as future generations will be required to pay higher taxes unless we...

Written Answers — Financial Services Regulation: Financial Services Regulation (3 Nov 2009)

Brian Lenihan Jnr: The Financial Regulator's Consumer Protection Code contains requirements which must be followed by both lenders and intermediaries at point of sale. The mortgage provider must demonstrate that it has gathered sufficient information from the consumer to allow it to provide a recommendation to that consumer. It is therefore incumbent upon mortgage providers to satisfy themselves as to the...

Written Answers — Financial Services Regulation: Financial Services Regulation (3 Nov 2009)

Brian Lenihan Jnr: Mortgage Intermediaries are authorised in accordance with the relevant provisions of the Consumer Credit Act 1995. This sets out the necessary conditions which must be met prior to authorisation and also sets out a number of grounds where an authorisation may be refused, some of which relate to the holding of other types of licences (section 116 (9)). These restrictions do not include the...

Written Answers — Tax Collection: Tax Collection (3 Nov 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 359 to 361, inclusive, together. I am informed by the Revenue Commissioners that data is not recorded in such a manner as would enable all of the information requested by the Deputy to be provided. Such information could not be obtained without conducting a protracted examination of the Revenue Commissioners records. Details of the number of judgments...

Written Answers — Tax Collection: Tax Collection (3 Nov 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 362 and 363 together. I am advised by the Revenue Commissioners that bankruptcy proceedings are instigated to pursue and conclude collection activity in appropriate cases of serious debt owed by individuals where routine enforcement action is not successful. Number of cases where bankruptcy proceedings were instigated and the number of cases that were...

Written Answers — Tax Yield: Tax Yield (3 Nov 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the latest published figures for outstanding taxes are available for the year ended 31 March 2009. Due to the varying nature of the different taxes, it is the practice to publish data in relation to tax debts on an annual basis. This facilitates meaningful comparative analysis. An analysis of this debt is set out in table 1. As at 31 March...