Results 8,521-8,540 of 16,537 for speaker:Brian Lenihan Jnr

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: I will certainly raise that question with them.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: The fiscal elements of the package are contained in the Finance Bill before the House currently, other than those regarding intellectual property. I signalled in my budget speech that I intended to bring forward proposals on that next year.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: The general principle, as has always been the practice, is contained in section 542 of the Taxes Consolidation Act 1997 where the compulsory purchase order was confirmed before 15 October but the local authority had not agreed compensation with the owner of the land or entered on the land by that date. That is the case identified. The general principle, as set out in section 542 of the Taxes...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: Under the arrangement, the landowner who happens to be a farmer is at an advantage in that there is no obligation to pay the CGT when the land is taken. In that sense, there is an extension of a facility to that landowner as against any other class of landowner in the interim period.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: No. It is an entire liability which is deferred under the operation of this section. The fact that the rate increased this year means it is at the higher rate, which can happen in any financial legislation. The fundamental point is that the landowner who happens to be a farmer can defer his liability under this section. I am advised that the rate of tax does not affect the amount of...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: The Finance Act 1993 introduced a VRT repayment system for the short-term car hire sector — that is, cars hired on contracts for 35 days or less. The purpose of the scheme was to address shortages in the supply of cars for hire within the tourism industry at that time. The effect of the repayment scheme is that a car is effectively free of VRT for the period it remains in the car hire...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: There is a full three-year period and in the circumstances that is adequate.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: On Deputy O'Donnell's question in respect of the inquiry, I have asked the Revenue Commissioners and the Central Statistics Office, CSO, to examine the question of the loss to the Exchequer arising from cross-Border shopping. Officials from Revenue and the CSO met yesterday to consider how best this task can be undertaken. The difficulties involved in trying to accurately estimate the...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: Equally, the Deputy suggested that I caused a flight of shoppers across the Border.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: The widening differential between sterling and the euro is the fundamental reason people are travelling to shop in Northern Ireland. I never appealed to people's sense of patriotism in order to encourage them to shop at home. However, I have stated that if they shop at home, they will support their local economy and tax base. I have never made any secret of that. The euro-sterling...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: I expect to receive the report of the Revenue Commissioners and the CSO in respect of this matter by the end of February.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: As a result of the detailed assessment that must take place in order to arrive at a figure which will be informative.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: Yes, that is what the Revenue Commissioners have advised.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: The purpose of section 13 of the Bill is the attraction of individuals from overseas with the necessary high level skills that are required in the current economic climate. These individuals will, in turn, act as potential magnets to attract individual levels of business to Ireland, which will enhance our ability to further develop the sectors within which they work. It will also enable us...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: I thank Deputy Morgan for his support as regards the general principle of the measure. It is designed to attract people into this country and can play a key role in that regard. It is not being introduced on the same basis as in the past. Revenue will have a far more effective policing system for this relief in a number of ways. First, the relief will be by way of repayment of tax, so all...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: The Deputy's understanding is correct. That has already been decided.

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: Members will be aware I recently announced that the rules relating to the requirement for members of defined contribution occupational pension schemes to purchase an annuity with their pension funds in retirement are to be relaxed by the Revenue Commissioners, on a temporary basis. These amendments have, therefore, been overtaken by events. The deferral arrangement will be operated on an...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: The deferral arrangements for annuity purchase which I announced recently are by definition temporary. However, as Deputy Burton suggested, if present conditions persist over an extended period, that issue might have to be revisited. Changing the scope of the existing ARF arrangements is one of a range of issues to be addressed in the long-term pensions policy framework being developed by...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: We are discussing a scheme for hospices. It was introduced last year at the request of the relevant voluntary groups. Developing hospice care was widely welcomed at the time. Deputy Morgan's amendment proposes that the new scheme of capital allowances for the construction and refurbishment of buildings to be used as specialist palliative care units does not come into effect. I appreciate...

Finance (No. 2) Bill 2008: Report Stage (Resumed) and Final Stage (17 Dec 2008)

Brian Lenihan Jnr: In respect of Deputy Morgan's remarks, the State does not provide hospice services, which are provided on a voluntary basis.