Results 7,301-7,320 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (24 Mar 2009)

Brian Lenihan Jnr: I am informed by the Financial Regulator that AIB is the covered institution with the most significant exposure, at 6.2% of total loans, to central and eastern Europe. This is because it is the only domestic institution with a direct interest in banks in the region. I am also informed that the other covered institutions have minimal exposure, at less than 1% of total loans, in the listed...

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

Brian Lenihan Jnr: Under statutory pension schemes and pension schemes approved by the Revenue Commissioners there is no liability to income tax in respect of retirement gratuities or lump sums paid to members of such schemes on retirement. Provided the individuals referred to in the question are members of such a scheme and the lump sum payments comply with Revenue rules in this area, there is no liability to...

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

Brian Lenihan Jnr: I announced in Budget 2009 that the betting duty would be increased from 1 to 2%. Subsequently, I met a wide range of representatives from the betting industry where the problems faced by the sector, including those arising from the Budgetary changes, were discussed. The Finance (No. 2) Act 2008 provides that the betting duty rate will be increased from 1% to 2% on 1 May 2009. The Act also...

Written Answers — Freedom of Information: Freedom of Information (24 Mar 2009)

Brian Lenihan Jnr: Four statutory instruments have been enacted which affect the scope of the Freedom of Information (Amendment) Act, 2003 as follows: S.I. No. 265 of 2003 extends the right to have personal information amended (which is incorrect, incomplete or misleading), to parents/guardians and specified classes of individuals in respect of minors/incapacitated persons and deceased persons respectively....

Written Answers — Social Insurance: Social Insurance (24 Mar 2009)

Brian Lenihan Jnr: Projections for the position of the Fund in 2009 will be finalised in the preparation of the forthcoming Supplementary Budget. I would however point out that as the Deputy will be aware, the Social Insurance Fund derives its revenue in the first instance from PRSI inflows which are paid direct to the Fund and do not form part of Exchequer receipts (though they would of course be taken into...

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

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the numbers of income earners availing of the one parent family tax credit for the years 2006, 2007 and 2008 are estimated at 131,400, 136,700 and 136,600 respectively. Figures are rounded to the nearest hundred. The numbers availing of the credit represent income earners who were in a position to absorb at least some of the one parent family...

Written Answers — Public Procurement Policy: Public Procurement Policy (24 Mar 2009)

Brian Lenihan Jnr: Under the terms of the EU Treaties and relevant Directives, public procurement policy prohibits the use of discriminatory criteria in the award of public works contracts. The inclusion of local labour and unemployment considerations as award criteria would be considered discriminatory. Accordingly such arrangements do not form part of National Public Procurement Policy.

Written Answers — Public Procurement Policy: Public Procurement Policy (24 Mar 2009)

Brian Lenihan Jnr: Under public procurement rules contracts are awarded on the basis of the lowest priced or the most economically advantageous tender. Economic advantage is assessed on the basis of a number of criteria related to the subject of the contract, for example, quality, technical merit, running costs, after sales service, delivery timeframes, as well, of course, as tendered price. The appropriate...

Written Answers — Job Creation: Job Creation (24 Mar 2009)

Brian Lenihan Jnr: Information is not collated centrally on a routine basis on the number of direct and indirect jobs that would be created as a result of each capital project under the National Development Plan. However, my Department has recently completed an exercise on the labour intensity of infrastructure investment more broadly. This exercise found that, with a few exceptions, the labour intensity of...

Written Answers — Banking Industry: Banking Industry (12 Mar 2009)

Brian Lenihan Jnr: The choice of mortgage product ultimately rests with consumers in light of their assessment of the terms and conditions that their lending institution offers. The decision of borrowers is influenced by a range of factors such as their personal preferences and their own assessment of the relative merits of fixed and variable rate mortgages. Generally mortgages are for long periods. To some...

Written Answers — Tax Code: Tax Code (12 Mar 2009)

Brian Lenihan Jnr: Under statutory pension schemes and pension schemes approved by the Revenue Commissioners there is no liability to income tax in respect of retirement gratuities or lump sums paid to members of such schemes on retirement. Provided the workers referred to in the details provided by the Deputy are members of such a scheme and the lump sum payments comply with Revenue rules in this area, there...

Written Answers — Tax Code: Tax Code (12 Mar 2009)

Brian Lenihan Jnr: I assume the Deputy is referring to the restriction of reliefs measure that was announced in Budget 2006 and which came into effect from 1 January 2007. The position is that this restriction applies to all taxpayers on high incomes that avail of tax reliefs and is not solely applicable to the exempt income earned by artists. As the Deputy will be aware, the Commission on Taxation is...

Written Answers — Tax Code: Tax Code (12 Mar 2009)

Brian Lenihan Jnr: The rules governing the artists tax exemption scheme are set out in section 195 of the Taxes Consolidation Act 1997 and in the related Guidelines drawn up under that section. These Guidelines are drawn up by the Arts Council and the Minister for Arts, Sport and Tourism with the consent of the Minister for Finance. The current Guidelines have been in place since 1994. The scheme provides an...

Written Answers — Tax Code: Tax Code (12 Mar 2009)

Brian Lenihan Jnr: I assume the Deputy is referring to the provisions of Section 847A of the Taxes Consolidation Act 1997 concerning relief for donations to certain sports bodies. As the Deputy will be aware, tax relief for donations to sports bodies is confined to donations in respect of capital projects. The relief was deliberately structured in that way because of instances of abuse in a previous similar...

Written Answers — Tax Yield: Tax Yield (12 Mar 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that, based on current data, the impacts on revenues and on the CPI arising from the indicated increases in excise duties, inclusive of VAT, on petrol and diesel, in a full year and in 2009, if increase implemented from 1 April 2009, are set out in the following table. Revenue and CPI impacts arising from a range of excise increases, inclusive of VAT...

Written Answers — Tax Yield: Tax Yield (12 Mar 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 84 to 88, inclusive, together. I am informed by the Revenue Commissioners that, based on current data, the impacts on revenues and on the CPI arising from the indicated increases in excise duties, inclusive of VAT, on the products listed, in a full year and in 2009, if increase implemented from 1 April 2009, are set out in the following table. Revenue and CPI...

Written Answers — Tax Yield: Tax Yield (12 Mar 2009)

Brian Lenihan Jnr: I am informed by The Revenue Commissioners that the additional revenue that would be generated by applying a VAT rate of 5% to goods currently at 0%, which if moved could continue to attract a reduced VAT rate, with effect from April 1 is estimated to be €204 million in 2009 and €349 million in 2010 and have a CPI effect of 0.60%. On the same basis, the additional yield from increasing...

Written Answers — Tax Yield: Tax Yield (12 Mar 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2009, of an increase in the income levy from 2% to 3% on incomes between €100,101 and €200,000 would be approximately €35 million. The yield in 2009, if implemented from 1 April, would be of the order of €15 million. However, I should point out that this would create an...

Written Answers — Tax Yield: Tax Yield (12 Mar 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 91 and 92 together. I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2009, of an increase in the income levy to 5% and 10% on incomes above €200,000 would be of the order of €90 million and €295 million respectively. The yield in 2009, if implemented from 1 April, would be of the order of...

Written Answers — Tax Yield: Tax Yield (12 Mar 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2009, of abolishing mortgage interest relief for non-first time buyers would be of the order of €140 million. The yield in 2009, if implemented from 1 April, would be of the order of €100 million.