Results 11,421-11,440 of 19,445 for speaker:Brian Cowen

Written Answers — Financial Services Regulation: Financial Services Regulation (26 Feb 2008)

Brian Cowen: The report of the Comptroller and Auditor General to which the Deputy refers was submitted to me by the Comptroller and Auditor General in June 2007 and laid by me before Dáil Eireann. This examination looked at all the areas of activity of the Financial Regulator since its establishment. It focused in particular on: how the Financial Regulator sets standards and provides guidance to...

Written Answers — Economic and Monetary Union: Economic and Monetary Union (26 Feb 2008)

Brian Cowen: Payments systems deal with the transfer of money (funds) between bank accounts. While each Member State has effective payments systems at national level, the integration of the single market in financial services has been hindered by the lack of cross-border interoperability between national payments systems. For some years now the payments industry has been working to improve the dynamics of...

Written Answers — Financial Services Regulation: Financial Services Regulation (26 Feb 2008)

Brian Cowen: The issues raised by the Deputy fall within the remit of the Financial Regulator. I understand that the majority of overcharging issues actually predate the establishment of the Financial Regulator in 2003 and, accordingly, statistics are not available in exactly the format requested by the Deputy. Following a request for similar statistics in PQ No. 2351/08 (on 30 January, 2008), my...

Written Answers — Tax Code: Tax Code (26 Feb 2008)

Brian Cowen: Under the revised VRT system, the VRT rate applicable to both new and used imported cars registered on or after 1 July 2008 will be determined by the CO2 emission rating of the car and will no longer be related to engine size. As outlined in Annex D to the Summary of 2008 Budget Measures, in respect of pre-owned used cars imported after 1 July 2008, the CO2 emissions will have to be declared...

Written Answers — Financial Services Regulation: Financial Services Regulation (26 Feb 2008)

Brian Cowen: It would not be appropriate for me, in my role as Minister for Finance, to comment on any matter which is the subject to Court proceedings as is the case in relation to the developments adverted to in the Deputy's question. My Department of course monitors closely, in consultation with the Office of the Attorney General, any legal issue with the potential to impact upon the current...

Written Answers — Financial Services Regulation: Financial Services Regulation (26 Feb 2008)

Brian Cowen: As Minister of Finance, my role is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions is responsible for administering the system of regulation and supervision of credit unions provided under the Credit Union Act, 1997 with a view to the protection by each credit union of the funds...

Written Answers — Tax Code: Tax Code (26 Feb 2008)

Brian Cowen: I am advised by the Revenue Commissioners that the information requested by the Deputy is as follows in respect of the income tax years 2007 and 2008. Tax year Exempt (Standard rate liability fully covered by credits or Age Exemption Limits) Marginal Band Paying tax at the standard rate (including those whose liability at the higher rate is fully offset by credits) Higher rate Liability...

Written Answers — Audits Programme: Audits Programme (26 Feb 2008)

Brian Cowen: I am advised by the Revenue Commissioners that the position in relation to the number of random audits carried out for each of the years 2003 to date is as follows: In 2003, 274 random audits were completed. In 2004, the traditional random audit programme was not carried out due to the change in Revenue's approach following a review of the programme. However, 25 cases selected under the...

Written Answers — Property Repossessions: Property Repossessions (26 Feb 2008)

Brian Cowen: The Deputy will appreciate that reports relating to court proceedings for property repossessions need to be interpreted with caution, given the variety of circumstances that give rise to such cases and the fact that not all of the proceedings relate to residential property. It should also be noted that even where such orders are secured some are not enforced. The number of orders granted by...

Written Answers — Tax Code: Tax Code (26 Feb 2008)

Brian Cowen: The Programme for Government sets out a commitment to reduce the standard rate of income tax to 18 per cent and the top rate of income tax to 40 per cent over the lifetime of the Government, provided economic resources allow. It is clear that we have now entered a period of lower economic growth than was generally envisaged in the early part of last year. This is reflected in the economic...

Written Answers — Economic Competitiveness: Economic Competitiveness (26 Feb 2008)

Brian Cowen: I assume the observations referred to are those contained in the recent Recommendation for a Council Opinion on the updated stability programme for Ireland, 2007 — 2010, where the European Commission commented on the recent deterioration in our export competitiveness. This deterioration has primarily been brought about by productivity growth here not keeping pace with price developments. ...

Written Answers — Pension Provisions: Pension Provisions (26 Feb 2008)

Brian Cowen: The 2006 Budget and Finance Act introduced an imputed or notional distribution of 3% of the value of the assets of an Approved Retirement Fund (ARF) on 31 December each year, where the notional amount will be taxed at the ARF owner's marginal income tax rate. Funds actually drawndown by ARF owners will be credited against the imputed distribution in that year to arrive at a net imputed...

Written Answers — Tax Code: Tax Code (26 Feb 2008)

Brian Cowen: The position is that the VAT regime and indeed the rating of all goods and services are subject to the requirements of EU VAT law with which Irish VAT law must comply. Whilst it would not be possible to provide a detailed breakdown of the complex rules and regulations governing VAT, the following summary addresses the specific points raised by the Deputy. Under the EU VAT Directive, Member...

Written Answers — Financial Services Regulation: Financial Services Regulation (26 Feb 2008)

Brian Cowen: My role as Minister for Finance is to ensure that there is an appropriate and robust legislative framework for the regulation of the financial services sector. I am satisfied that following the reform of the institutional framework for financial regulation, the establishment of the Financial Regulator with its statutory consumer protection mandate and the Financial Services Ombudsman and the...

Written Answers — Tax Yield: Tax Yield (26 Feb 2008)

Brian Cowen: As the Deputy may be aware, the monthly Exchequer Returns are available on my Department's website shortly after the end of each month. In addition, my Department's tax receipts, voted expenditure and debt service profiles for 2008, have also been published on the Department's website. In relation to the returns for January, there was an Exchequer surplus of €630 million at end-January....

Written Answers — Financial Services Regulation: Financial Services Regulation (26 Feb 2008)

Brian Cowen: A comprehensive system of banking supervision is in place under both EU and domestic law to ensure that credit institutions do not put customers' deposits at risk through imprudent lending practices. Banking supervision encompasses the authorisation of banks and building societies, their prudential supervision on an ongoing basis and the development of supervisory guidance and requirements...

Written Answers — Tax Code: Tax Code (26 Feb 2008)

Brian Cowen: The position is that the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under the VAT Directive Member States may only apply the reduced VAT rate to those goods and services which are listed under Annex III of the VAT Directive. As Annex III does not include the supply of road safety products, the only rate that can apply to...

Written Answers — Tax Code: Tax Code (26 Feb 2008)

Brian Cowen: The position is that individuals may claim tax relief in respect of the cost of 'service charges' (i.e. charges in respect of the provision of water for domestic purposes, domestic refuse collection or disposal or domestic sewage facilities). Full details are contained in Revenue's Explanatory leaflet and claim form IT 27 Tax Relief for Service Charges which is available on Revenue's website...

Written Answers — Tax Collection: Tax Collection (26 Feb 2008)

Brian Cowen: Section 262 of the Taxes Consolidation Act 1997 already provides that a financial institution must, following a depositor's request, provide a statement to the depositor showing the gross amount of any relevant interest paid or credited to the depositor, the DIRT deducted, the net payment and the date of that payment. I have no plans to amend this legislative provision at this time. In...

Written Answers — Pension Provisions: Pension Provisions (26 Feb 2008)

Brian Cowen: I understand that the Deputy is referring to a question, relating to advice on the purchase of notional service by public servants, which I answered on 30 January last. I noted in my reply to that question that matters of this nature could be arranged directly with the relevant Personnel Section and that there was no particular need to obtain independent advice, unless the officer chose to do...