Results 7,381-7,400 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Financial Services Regulation: Financial Services Regulation (10 Mar 2009)

Brian Lenihan Jnr: I have no function in relation to revaluing existing contractual commitments between lenders and borrowers. My function is to provide an appropriate legislative framework for regulation of the financial services sector. Recent cuts in the main ECB rate have helped to reduce the monthly mortgage repayments for those on variable rate and tracker mortgages. Successive budgets since 2006 have...

Written Answers — Tax Code: Tax Code (10 Mar 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the place of supply of goods and services for VAT purposes is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under the EU VAT Directive the supply of construction works or civil engineering works are treated as being made where the immovable goods or the associated lands are situated. Thus, services such as those...

Written Answers — Pension Provisions: Pension Provisions (10 Mar 2009)

Brian Lenihan Jnr: Regulations will be introduced under Section 3 of the Financial Emergency Measures in the Public Interest Act 2009 for the purpose of the calculation, making, collection, disposal and recovery of the deductions. The deductions will be made on what is known as a "week-1 basis". This means that each payroll pension related deduction is calculated without reference to the previous pay period....

Written Answers — Departmental Schemes: Departmental Schemes (10 Mar 2009)

Brian Lenihan Jnr: The purchasing of bicycles under the cycle to work scheme must be in compliance with procurement regulations. My Department is currently in discussions with the Government Supplies Agency on how the proposed scheme might be put into operation and the correct procurement procedures put in place. A circular will issue once an appropriate tendering system is in place. My Department and the...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (5 Mar 2009)

Brian Lenihan Jnr: Anglo Irish Bank is being run on an arms length commercial basis. Consequently, normal commercial decisions, which include the contraction of legal advice, are a matter for the Board of Anglo. As the Deputy will be aware, matters at Anglo Irish Bank are the subject of a number of corporate governance investigations including investigations being undertaken by the Financial Regulator and the...

Written Answers — Pension Provisions: Pension Provisions (5 Mar 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 83 and 86 together. The length of a contract is not relevant as to whether or not a deduction is to be made. In general most contract staff in the public service are now eligible for pension scheme membership. In addition, a person who is on a contract and, for example, is in receipt of a payment in lieu of membership of a pension scheme, would be liable for...

Written Answers — Tax Code: Tax Code (5 Mar 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that the taxpayer is jointly assessed with her spouse for income tax purposes. Her spouse is self-employed and therefore, as a chargeable person, must submit an annual Tax Return. A Tax Return Form 11 for 2007 has been received by Revenue and a Notice of Assessment issued to the person's spouse dated 25 November 2008. (As the person's spouse...

Written Answers — Tax Code: Tax Code (5 Mar 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that, after the end of the 2009 year, a straightforward procedure will be in place to allow those couples entitled to the age exemption to claim repayment of income levy deducted in 2009, subject to their personal income being less than the married exemption threshold of €40,000. Arrangements to publicise the procedures will be highlighted in the...

Written Answers — Pension Provisions: Pension Provisions (5 Mar 2009)

Brian Lenihan Jnr: Retained firefighters are subject to the pension-related deduction as they are, in fact, entitled to join the Local Government Superannuation Scheme and receive a pension and lump sum from a local authority. Those who do not take that option are covered by a non-contributory retirement gratuity arrangement. While they are not exempted from the deduction, I did undertake during the Dáil...

Written Answers — Tax Code: Tax Code (5 Mar 2009)

Brian Lenihan Jnr: Under the general scheme of corporation tax provided for in the Taxes Consolidation Act 1997, corporation tax is charged on the profits of a company arising in a financial year but the tax is assessed on the company by reference to accounting periods. The starting point for determining a company's taxable profits and liability to corporation tax is, therefore, the company's profits for the...

Written Answers — Pension Provisions: Pension Provisions (5 Mar 2009)

Brian Lenihan Jnr: Under current rules relating to pension benefits, part of those benefits can be provided by way of a tax-free lump sum payment on retirement. The maximum lump sum benefit that can be achieved at normal retirement age by an employee is one and a half times final remuneration. This arrangement is available under pension schemes in both the public and private sectors. For certain individuals,...

Written Answers — Departmental Schemes: Departmental Schemes (5 Mar 2009)

Brian Lenihan Jnr: The purchasing of bicycles under the scheme must be in compliance with procurement regulations. A circular will issue shortly once an appropriate tendering system is in place.

Written Answers — Tax Code: Tax Code (5 Mar 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that it is the responsibility of the Employer to issue Form P45 on cessation of employment. As outlined in reply to an earlier PQ, 4100/09, Revenue issued details from Form P35 2008 to the taxpayer in February 2009. A further copy of these details has now been issued. Form P21 balancing statement for 2008 also issued to the taxpayer dated 12...

Order of Business (5 Mar 2009)

Brian Lenihan Jnr: The amendment to the Competition Act envisages making amendments to competition law in respect of collective bargaining. The Department is in consultation with other Departments and the EU Commission and preparation of the heads is under way, but it is not possible to indicate a publication date at this stage. I must communicate with the Deputy regarding the ILO conventions.

Order of Business (5 Mar 2009)

Brian Lenihan Jnr: The Bill contains 1,263 heads. Its purpose is to bring greater clarification and simplification to the companies code. It involves 13 separate company law Acts and its heads were approved by the Government on 25 July 2007. It is a substantial Bill in terms of its size and it is not possible to indicate at this stage when it will be published. In any discussion on a Bill of such size,...

Order of Business (5 Mar 2009)

Brian Lenihan Jnr: It should be published over the summer.

Order of Business (5 Mar 2009)

Brian Lenihan Jnr: The Order of Business is No. 12, motion re proposed approval by Dáil Éireann of a proposal that section 17A of the Diseases of Animals Act 1966 shall continue in force for the period ending on 8 March 2010 — back from committee; No. 13, motion re proposed approval by Dáil Éireann for the transfer of command of the Irish contingent currently serving in Chad with EUFOR TCHAD-RCA to the...

Order of Business (5 Mar 2009)

Brian Lenihan Jnr: I welcome the fact that the leader of the Labour Party has welcomed Mr. Gallagher's appointment as chairman of the commission.

Order of Business (5 Mar 2009)

Brian Lenihan Jnr: He has no particular objection and I take it there is unanimous confidence in the House for the proposed appointment, as a matter of practice, and that is welcome in the context of the important work the commission has to do. I understand from his statement that Deputy Gilmore has some constitutional objection to the manner in which the Government has proceeded. The position is that the...

Order of Business (5 Mar 2009)

Brian Lenihan Jnr: There is no question of that. This is a matter of legislative practice. There is no question of the Government claiming any prerogative other than following legislation. I will draw Deputy Gilmore's comments to the attention of the Taoiseach and Government.