Results 8,341-8,360 of 16,537 for speaker:Brian Lenihan Jnr

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

Brian Lenihan Jnr: I propose to take Questions Nos. 251 and 252 together. I am informed by the Revenue Commissioners that the question of whether or not there is a "redundancy" is a question of fact to be established by examining the circumstances of each individual case. Where a worker receives a lump sum payment on the termination of his/her employment and returns to the employment a short time later Revenue...

Written Answers — Pension Provisions: Pension Provisions (27 Jan 2009)

Brian Lenihan Jnr: An ARF (Annual Retirement Fund) is an alternative to a retirement annuity allowing certain individuals considerable flexibility and freedom in relation to the drawing down of benefits from their pension plans. The purpose of the ARF is to provide an income stream in retirement and, in common with annuity income, draw-downs from ARFs are subject to taxation at the ARF owner's marginal rate of...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (27 Jan 2009)

Brian Lenihan Jnr: The Bank Guarantee Scheme, and the conditions attached, has given rise to detailed engagement by Government with the banks. In the period since September, I have, along with my Department, the Central Bank, the Financial Regulator and the National Treasury Management Agency (NTMA), worked with the covered financial institutions to examine all options to maintain stability and the proper...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (27 Jan 2009)

Brian Lenihan Jnr: In its decisions of 28th November and 14th December 2008, the Government decided to support a recapitalisation programme for credit institutions in Ireland of up to €10 billion. You will be aware that on 21 December, I announced specific proposals in relation to the three major financial institutions. The Deputy will also be aware that we are in discussions with certain other institutions...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (27 Jan 2009)

Brian Lenihan Jnr: Since the introduction of the Bank Guarantee Scheme in September, I have received correspondence from various sectors of society, including the Financial Regulator, the NTMA, Public Representatives, the banking industry, both home and abroad, and the general public. The Deputy will appreciate that given the amount of correspondence received, it is not possible to give details of all written...

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

Brian Lenihan Jnr: 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 of severe financial dislocation, both nationally and...

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

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that they have written to the person concerned on 23rd January 2009 in relation to the matter.

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Jan 2009)

Brian Lenihan Jnr: Prior to the introduction of the Central Bank and Financial Services Authority of Ireland Act 2003, the regulation of financial services was dispersed across a number of bodies. However, most of these regulatory functions were allocated to the Irish Financial Services Regulatory Authority upon its establishment and, at that time, it was also given new functions relating to the promotion of...

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Jan 2009)

Brian Lenihan Jnr: The Financial Regulator was established in 2003, but its budget for that year was financed as part of the overall budgets of the Central Bank and the Department of Enterprise Trade and Employment. Since 2004, the annual budget of the Financial Regulator has been as follows: Year Budget â'¬ 2004 38,505,000 2005 44,519,000 2006 48,625,000 2007 51,577,000 2008 55,764,000

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

Brian Lenihan Jnr: The position is that all individuals are liable to the income levy if their gross income exceeds the threshold of €18,304 per annum or the increased age exemption thresholds of €20,000 single/€40,000 married for those aged 65 and over. Persons in receipt of a full medical card are specifically exempt from the income levy. The income levy is payable on gross income, up to a ceiling of...

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

Brian Lenihan Jnr: I propose to take Questions Nos. 264 and 265 together. I assume that the Deputy is referring to individual pension contributions, the tax relief on which is allowed at the taxpayer's marginal tax rate, that is, at the standard or higher rate of income tax as appropriate in each case. A breakdown of the cost of tax relief on employee contributions to occupational pension schemes is not...

Written Answers — Capital Expenditure: Capital Expenditure (27 Jan 2009)

Brian Lenihan Jnr: The table shows gross current expenditure, both Voted and non-Voted. Voted current expenditure is divided by Department based on the current allocation of Ministerial responsibilities. Non-Voted expenditure is predominantly made up of interest on the National Debt and contributions to the EU budget. The gross Voted expenditure figures between 1997 and 2007 are taken from the Appropriation...

Written Answers — Capital Expenditure: Capital Expenditure (27 Jan 2009)

Brian Lenihan Jnr: The table shows gross Voted capital expenditure from 1997 to 2007. This has been broken down by Department and expressed as a percentage of both GDP and GNI. All expenditure figures in the table are taken from the Appropriation Accounts for each year with the exception of 2008. As final gross Voted expenditure figures are not yet available, the expenditure figures for 2008 are obtained...

Written Answers — Public Sector Employment: Public Sector Employment (27 Jan 2009)

Brian Lenihan Jnr: The number of people employed in the public sector at the 31 December for each year since 1997 is presented in the following table. The numbers employed in the public sector is constituted by the numbers of whole time equivalents employed in the civil service, the education sector, the justice sector, the health sector, the local authorities, the non-commercial agencies and the commercial...

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

Brian Lenihan Jnr: Based on the current Pay bill an additional charge of 2% of income on public sector employees would amount to approximately €360 million in a full year.

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

Brian Lenihan Jnr: The Revenue Commissioners have provided VRT receipts for the period 1997 to 2008 and these figures are supplied in the following table. The figures provided are on a Revenue Net Receipts basis, which differ from Exchequer receipts due to timing and accounting issues. The Deputy should note that the figures for 2008 are provisional at this stage and are liable to some slight revision. VRT...

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

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that following careful consideration of the matter, they reviewed their procedures in this area and, with effect from 18 March 2008 they implemented revised arrangements for the recovery of penalties in tax settlements involving deceased persons. When the taxpayer dies before a settlement has been agreed with Revenue, Revenue will not seek the...

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

Brian Lenihan Jnr: The legislation governing approved profit sharing schemes is contained in Chapter 1 of Part 17 and Schedule 11 to the Taxes Consolidation Act 1997. The legislation specifies a number of conditions that must be satisfied in order to obtain approval of a profit sharing scheme from the Revenue Commissioners. These conditions relate to the type of trust that must be established, the type of...

Written Answers — Drug Seizures: Drug Seizures (27 Jan 2009)

Brian Lenihan Jnr: I have been informed by the Revenue Commissioners that there were 26 drug seizures by Custom Officials in Co. Clare in 2008. All 26 seizures took place in Shannon Airport.

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

Brian Lenihan Jnr: I have been informed by the Revenue Commissioners that Forms P45 and particulars from the relevant P60 are on record in respect of the person in question, for the years 2005 to 2007 inclusive. Details from Form P60 for 2008 will be given to Revenue by 15th February 2008. Particulars can be requested by the person in question by contacting Revenue either by : Writing to PAYE Mail Centre, P O...