Results 8,321-8,340 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (28 Jan 2009)

Brian Lenihan Jnr: The implementation of the Bank Guarantee Scheme, announced in September 2008, has given rise to detailed engagement with the banks. In the period since September I have, along with my Department, the Central Bank, the Financial Regulator and the NTMA, worked with the covered financial institutions to examine all options to maintain stability and the proper functioning of the banking system....

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (28 Jan 2009)

Brian Lenihan Jnr: The implementation of the Bank Guarantee Scheme, announced in September 2008, has given rise to detailed engagement with the banks. In the period since September I have, along with my Department, the Central Bank, the Financial Regulator and the NTMA, worked with the covered financial institutions to examine all options to maintain stability and the proper functioning of the banking system....

Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (28 Jan 2009)

Brian Lenihan Jnr: The National Pensions Reserve Fund (NPRF) was established in 2001 to meet as much as possible of the costs of social welfare and public service pensions from 2025 when these costs are projected to increase dramatically due to the ageing of the population. Under the National Pensions Reserve Fund Act 2000, the National Pensions Reserve Fund Commission controls and manages the National...

Written Answers — Car Scrappage Scheme: Car Scrappage Scheme (27 Jan 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 230 and 231 together. As the Deputies will be aware a car scrappage scheme operated from 1 July 1995 to 31 December 1997, whereby the purchaser of a new car was given a £1,000 refund of VRT where a car 10 year old or more was being scrapped. I have no plans to introduce a car scrappage scheme at this time.

Written Answers — Child Care Services: Child Care Services (27 Jan 2009)

Brian Lenihan Jnr: The Valuation Act 2001, which came into effect on 2 May 2002, provides that all buildings used or developed for any purpose including constructions affixed thereto are rateable. In regard to the Valuation Act, 2001, I should point out that the Commissioner of Valuation is independent in the exercise of his duties under the Act, and that I, as Minister for Finance, have no function in...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that as a general rule all vehicles imported permanently into the State must register for VRT purposes at a vehicle registration office within seven days of arrival. This rule applies equally to vehicles imported by EU and non EU persons. However, Section 135(a) of the Finance Act 1992 permits a European or other foreign registered vehicle which is...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: The purchase of land by a Young Trained Farmer qualifies for an exemption from Stamp Duty. A Young Trained Farmer is defined as (a) being under 35 years of age on the date of execution of the deed of transfer and (b) having attained one of the necessary qualifications and, where required, is the holder of the appropriate certificate(s) awarded by the Further Education and Training Awards...

Written Answers — Tax Collection: Tax Collection (27 Jan 2009)

Brian Lenihan Jnr: An application for a refund of Stamp Duty has been submitted to the Stamping Section of the Revenue Commissioners under Section 92B 8(aa) Stamp Duties Consolidation Act 1999. Under this provision, certain conditions must be met to qualify for a refund. I am informed by the Revenue Commissioners that the last correspondence from the applicant's solicitors was on 7 January 2009 and a number of...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: I announced in Budget 2009 that an air travel tax will come into force in respect of passengers departing from Irish airports on and from 30 March 2009. A general rate of €10 per passenger will apply, with a lower rate of €2 for shorter journeys. The Finance (No. 2) Act 2008 provides for a number of exemptions from the air travel tax including that a disabled person and a person...

Written Answers — Tax Collection: Tax Collection (27 Jan 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the taxpayer's letter of appeal was received just marginally outside the two month statutory time limit. In view of this fact the Revenue Commissioners have decided to accept his letter of appeal. The case will be reviewed by a designated officer and his decision will be communicated directly to the taxpayer shortly. I am also advised that if...

Written Answers — Tax Collection: Tax Collection (27 Jan 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the solicitor for the person in question was requested on 17 April 2007 to return a completed Form IT 38. This Form is still awaited and it is needed to determine the valuation date and the value of the property in question so as to calculate the amount of Capital Acquisitions Tax due. Based on the information available, 1) it appears that...

Written Answers — Disabled Drivers: Disabled Drivers (27 Jan 2009)

Brian Lenihan Jnr: A special Interdepartmental Review Group reviewed the operation of the Disabled Drivers Scheme. It examined the current benefits, the qualifying medical criteria, the Exchequer costs, relationship with other schemes and similar schemes in other countries. The report also made a number of recommendations, both immediate and long-term, referring respectively to the operation of the appeals...

Written Answers — Consumer Protection: Consumer Protection (27 Jan 2009)

Brian Lenihan Jnr: This question relates to issues raised by "Friends of Banking Ireland". I have been informed by the Financial Regulator that it met Friends of Banking Ireland on 13 November 2008 and that a number of issues relating to the role of the Financial Regulator, the reach of the consumer protection code, the complaints process for individual redress and the confidentiality obligations under which...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (27 Jan 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 242, 262 and 279 together. In the area of prudential regulation, the Financial Regulator applies regulatory rules to a range of banking activities in accordance with national, EU and international requirements. The importance of having a regulatory system that provides financial stability and fosters probity has become all the more clear to us now in a time...

Written Answers — Tax Collection: Tax Collection (27 Jan 2009)

Brian Lenihan Jnr: The Revenue Commissioners have had a particular focus on the construction sector in recent years and this sector continues to feature prominently in Revenues compliance programmes. A national construction industry project was conducted between 2006 and 2008. For the duration of this project, Revenue assigned 25% of its audit and compliance resources to monitoring this industry. All of...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that under the legislation governing the operation of Relevant Contracts Tax (RCT) the general position is that the obligation to operate RCT is placed on the principal contractor under the construction contract. A principal contractor must operate RCT on payments to subcontractors not only where the construction work being carried out relates to a...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 245 and 287 together. I am informed by the Revenue Commissioners that the Tax Acts apply different rules to the computation of taxable income depending on the source of the income. The income receivable from the letting of premises such as self-catering accommodation is regarded as rental income and assessed accordingly. Income from the operation of hotels and...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 246, 248 and 250 together. The position is that, on the basis of the legislation as enacted, the employer is legally obliged to deduct income levy from all payments of emoluments (which would include salary, bonus payments and other payments in the nature of pay) made to his or her employees where payment of those emoluments takes place on any date on or after...

Written Answers — Tax Code: Tax Code (27 Jan 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that interest arising on deposits made by Credit Unions with banks is not subject to Deposit Interest Retention Tax. Credit Unions, being themselves "relevant deposit takers" (under Section 256 of the Taxes Consolidation Act 1997) who operate DIRT, are not subject to the DIRT provisions on the interest arising on their deposits with banks or other...

Written Answers — Tax Collection: Tax Collection (27 Jan 2009)

Brian Lenihan Jnr: It is assumed that what the Deputy is seeking is the number of PAYE income earners in the ranges of income specified as determined by reference to the income tax record. I am advised by the Revenue Commissioners that the information requested, estimated by reference to the income tax year 2009, is as follows: All PAYE income earners Income Tax Year 2009 Gross Income Numbers €0 –...