Results 5,501-5,520 of 16,537 for speaker:Brian Lenihan Jnr

National Asset Management Agency Bill 2009: Second Stage (Resumed) (14 Oct 2009)

Brian Lenihan Jnr: Spokespersons for developers have denounced this measure.

National Asset Management Agency Bill 2009: Second Stage (Resumed) (14 Oct 2009)

Brian Lenihan Jnr: Those, like Deputy Burton, who persist in misrepresenting the Bill in this way will have a heavy burden to bear in the verdict of history because we have serious decisions to take not only as a Government, but as a Parliament and a people, and misleading the people about legislation does not assist us in this task.

National Asset Management Agency Bill 2009: Second Stage (Resumed) (14 Oct 2009)

Brian Lenihan Jnr: Several Deputies have complained that the valuation is too generous or that there are insufficient safeguards to ensure the banks have to bear an appropriate share of the risks involved but this is not the case. The valuation methodology used to estimate the price paid for the loans must accord with EU guidance. Each loan will be valued in accordance with this methodology, which takes into...

National Asset Management Agency Bill 2009: Second Stage (Resumed) (14 Oct 2009)

Brian Lenihan Jnr: That is not envisaged and it will not happen. Deputy Gilmore must produce evidence. All the evidence relating to the behaviour of the banks when it comes to repossession points to the contrary.

Written Answers — Social Insurance: Social Insurance (14 Oct 2009)

Brian Lenihan Jnr: An annual surplus on the Social Insurance Fund first arose in 1997 and this has been invested, subject to ministerial guidelines, since then. In 2001, the Minister for Finance delegated his investment authority to the NTMA. As a result of increases in social welfare expenditure it is now expected that the surplus will disappear during 2010. Full information on the position of the surplus...

Written Answers — Tax Code: Tax Code (14 Oct 2009)

Brian Lenihan Jnr: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under the VAT Directive, Member States may retain the zero rates on goods and services which were in place on 1 January 1991, but cannot extend the zero rate to new goods and services. As medical appliances such as the Lokomat machine were not subject to the zero rate on 1...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Oct 2009)

Brian Lenihan Jnr: No valuer firms have been appointed by NAMA to date. The appointment of valuation firms covering Ireland and foreign jurisdictions is subject to an EU public procurement process which is still underway with a closing date of 23rd October 2009. The Pre Qualification Questionnaire (PQQ) issued as part of this process is available on the www.etenders.gov.ie website. This PQQ sets out all the...

Written Answers — Tax Collection: Tax Collection (14 Oct 2009)

Brian Lenihan Jnr: Section 848A of the Taxes Consolidation Act (TCA) 1997 provides for tax relief on donations to eligible charities and other approved bodies. All primary and post primary schools providing education based on a programme prescribed or approved by the Minister for Education and Science automatically qualify as approved bodies for the purposes of the donations scheme. There is no separate tax...

Written Answers — Tax Collection: Tax Collection (14 Oct 2009)

Brian Lenihan Jnr: Section 848A of the Taxes Consolidation Act 1997 provides for tax relief on donations to eligible charities and other approved bodies. The provisions of the Donations Scheme were introduced by Section 45 of the Finance Act 2001 and became effective from 6th April 2001. The administration of this scheme is the responsibility of the Revenue Commissioners. The precise arrangements for allowing...

Written Answers — Tax Yield: Tax Yield (14 Oct 2009)

Brian Lenihan Jnr: The Supplementary Budget forecast VAT receipts of €11.4 billion in 2009, representing a decline of 15% on 2008. At end-September, €8.7 billion had been collected which is €653 million below target. The end-September 2009 position is down 21% on the same period of 2008. End-Sept 2009 End-Sept 2008 End-Sept 2007 € millions 8,657 10,998 11,770 The performance of VAT receipts in the...

Election of Ceann Comhairle (13 Oct 2009)

Brian Lenihan Jnr: Hear, hear.

Written Answers — Tax Code: Tax Code (13 Oct 2009)

Brian Lenihan Jnr: As the Deputy is aware, I announced in Budget 2009 that an air travel tax would come into force in respect of passengers departing from Irish airports on and from 30 March 2009. A general rate of €10 per passenger would apply, with a lower rate of €2 for shorter journeys. The Finance (No.2) Act 2008 confirmed the introduction of an air travel tax from 30 March 2009. However, I took...

Written Answers — Tobacco Smuggling: Tobacco Smuggling (13 Oct 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 84, 128 and 129 together. I am informed by the Revenue Commissioners that the European Anti Fraud Office (OLAF) has a special unit entitled OLAF Task Group Cigarettes, which co-ordinates both international operations and other countermeasures undertaken by the authorities of the Member States against cigarette smuggling. The OLAF also maintains a database of...

Written Answers — Public Sector Remuneration: Public Sector Remuneration (13 Oct 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 85 and 86 together. The information which the Deputy has sought is currently being collated. The information will be provided to the Deputy by my Department as soon as possible.

Written Answers — Tax Code: Tax Code (13 Oct 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that flat-rate farmers are not in the normal course entitled to credit for, or repayment of, VAT incurred by them on business inputs. The Value-Added Tax (Refund of Tax) (No 25) Order 1993 provides for refunds to flat-rate farmers for VAT borne on the "construction, extension, alteration or reconstruction of any building or structure which is...

Written Answers — Tax Code: Tax Code (13 Oct 2009)

Brian Lenihan Jnr: An income tax exemption for charities is available under section 207 of the Taxes Consolidation Act (TCA) 1997 and the exemption is extended to cover Corporation Tax by section 76 of the same Act. No such exemption is available for VAT. To avail of the charitable tax exemption a body must be established for charitable purposes only and must apply all of its income for charitable purposes...

Written Answers — Departmental Expenditure: Departmental Expenditure (13 Oct 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 89 and 90 together. I am taking the definition of "non-core pay" to refer to allowances (e.g. higher duties, special duties, machine allowances, shift/roster allowances etc.) that form part of an officer's overall remuneration, but is over and above basic pay. The amount spent by my Department on overtime and non-core pay in 2008 and to date in 2009 is as...

Written Answers — Departmental Staff: Departmental Staff (13 Oct 2009)

Brian Lenihan Jnr: Under the interim NAMA arrangements staff resources are provided by the NTMA. The NAMA Bill confirms this arrangement and also provides that NAMA may outsource certain activities and hire certain service providers. I am not in a position to comment on the details of individuals that have or will in the future be recruited to NTMA and assigned to NAMA. However, it is important to note that...

Written Answers — Endowment Mortgages: Endowment Mortgages (13 Oct 2009)

Brian Lenihan Jnr: The popularity of endowment mortgages was at its height during the late 1980s and early 1990s, driven by factors such as mortgage interest relief and tax relief. Between 1989 and 1992 endowment mortgages represented over one third of total mortgages approved in Ireland but by 2003 the number of endowment mortgages approved as a percentage of total mortgages was only 3.4%. In 2004 the...

Written Answers — Exchequer Savings: Exchequer Savings (13 Oct 2009)

Brian Lenihan Jnr: It is estimated that the savings in a full year from a 10% cut in public service salaries of more than €100,000 would be in the region of €120 million.