Results 16,461-16,480 of 19,445 for speaker:Brian Cowen

Public Expenditure. (28 Feb 2006)

Brian Cowen: I refute all those political assertions because they have no foundation in fact. I remind the Deputy once again that we had a deficit last year of €499 million so I do not know where I am supposed to be storing up this money. Thankfully, due to the extraordinary continued growth in our economy and the employment we are creating, the deficit was €1.75 billion less than was expected, which...

Financial Services Regulation. (28 Feb 2006)

Brian Cowen: The Credit Union Act 1997 provides the legal framework for the regulation of credit unions. The Act was designed to provide the credit union movement with a regulatory structure that reflected and promoted the particular ethos and philosophy of the credit union movement, its strong tradition of volunteer service and the core objective of providing opportunities for saving and lending for...

Financial Services Regulation. (28 Feb 2006)

Brian Cowen: A number of general points need to be made in response to the Deputy's questions. Significant funds are held in the credit unions and we all agree that a regulatory framework is required to deal with them. When we consider the investment issues for credit unions and how we can proceed, in the light of the high proportion of credit union assets now invested, the registrar has highlighted that...

Financial Services Regulation. (28 Feb 2006)

Brian Cowen: The Deputy asked for my plans to review and amend the Credit Union Act 1997 in order to lift the current operating restrictions being encountered by the Irish League of Credit Unions.

Financial Services Regulation. (28 Feb 2006)

Brian Cowen: Those matters are all being considered through the various mechanisms I have discussed and will be forwarded to the Credit Union Advisory Committee for further consideration. One must balance the question of what is prudential, what is the right allocation of risk, what is the right risk to take on, given the nature of the institutions concerned and the amounts of money involved while at the...

Construction Industry Review. (28 Feb 2006)

Brian Cowen: I am informed by the Revenue Commissioners that establishing employee or subcontractor status is one of the areas they specifically concentrate on in their monitoring of tax compliance in the construction sector. On an ongoing basis, Revenue auditors, based on risk assessment, audit the books and records of a considerable number of contractors and subcontractors. The matter of employee to...

Construction Industry Review. (28 Feb 2006)

Brian Cowen: There is no complacency on my part or on the part of the Revenue Commissioners. The Finance Bill 2006 proposes a number of changes in relation to the legislation governing the administration of relevant contracts tax aimed at tightening control and discouraging fraud. First, the Bill provides a statutory basis for the limit that the Revenue currently applies administratively on the amount of...

Construction Industry Review. (28 Feb 2006)

Brian Cowen: As I said, in what I thought was quite an informative reply, audits of the construction sector in 2004 yielded €57 million, or 10% of the total audit yield. Nearly 20% of the audit programme was devoted to the sector. The yield for 2005 up to October was €73 million. An in-depth investigation on projects in the east and south-east region showed three persons out of 500 were misclassified...

Urban Renewal Schemes. (28 Feb 2006)

Brian Cowen: The actual selection and designation process for areas to be designated under the town renewal scheme is a matter primarily for local authorities and an independent expert advisory panel set up by the Minister for the Environment, Heritage and Local Government. I understand that in accordance with the Town Renewal Act 2000 and the 1999 Guidelines on the Town Renewal Scheme, the designation of...

Urban Renewal Schemes. (28 Feb 2006)

Brian Cowen: The only way in which I may be able to help the Deputy is to clarify that section 372AB of the Taxes Consolidation Act 1997 provides that the Minister for Finance can revoke or amend an order. To date, amendments have been made to three designation orders, two of which were for the town renewal scheme and the third of which was for the urban renewal scheme. All the amendments related to...

Written Answers — Customs and Excise: Customs and Excise (23 Feb 2006)

Brian Cowen: I am advised by the Revenue Commissioners that the threat to tax receipts posed by illegal sales of untaxed alcohol products is not currently at such a level as to warrant the introduction of tax stamps. Following detections by Revenue Commissioners' officers, a number of publicans have been successfully prosecuted for such offences in the last few years. However, there is no evidence that...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (22 Feb 2006)

Brian Cowen: Under the codes of conduct issued by the financial regulator, which applies to all investment firms and stockbrokers, firms are required to disclose in advance to all clients or potential clients, the basis on which their fees are calculated. Any alteration to this basis for calculation must also be disclosed to clients. As part of their contract with investment firms, clients would have to...

Written Answers — Tax Code: Tax Code (22 Feb 2006)

Brian Cowen: Reducing the minimum threshold at which donations qualify for tax relief under the terms of the donations scheme from €250 to €100, as the Deputy has proposed, would significantly increase the current cost of the scheme to the Exchequer. A recent study by Irish Charities Tax Research Limited indicated that the introduction of such a measure would approximately double the cost of the...

Written Answers — Tax Code: Tax Code (22 Feb 2006)

Brian Cowen: I should explain that charities and non-profit organisations are exempt from VAT under the sixth VAT directive with which Irish law must comply. As such, they do not charge VAT on their services and cannot recover VAT on goods and services which they purchase. Essentially only VAT registered businesses which charge VAT are able to recover VAT. Refund orders, of the kind put forward by the...

Written Answers — Tax Yield: Tax Yield (22 Feb 2006)

Brian Cowen: I am advised by the Revenue Commissioners that section 780 of the Taxes Consolidation Act provides for a tax charge on refunds of employee-pension contributions. The rate of tax is the standard rate, which currently is 20%, in force at the time of payment. A refund of employee contributions may only be made if the employee is leaving the employment and has less than two years service. The...

Written Answers — Decentralisation Programme: Decentralisation Programme (22 Feb 2006)

Brian Cowen: Under the decentralisation programme announced by Government in December 2003, there are 131 staff of my Department due to decentralise to Tullamore from July 2006 and 33 staff due to decentralise to Kildare. The number of civil servants who have moved to my Department pending transfer and the number of staff in my Department who have chosen to move are as follows: Tullamore Kildare ...

Written Answers — Tax Code: Tax Code (21 Feb 2006)

Brian Cowen: I propose to take Questions Nos. 297 and 312 together. The VAT treatment of goods and services is governed by EU law with which Irish VAT law must comply. European law does not allow for the zero rating or exemption of these fees. Performance fees charged by musical or theatrical performers are therefore liable to VAT at the standard rate of 21%. The VAT Act lists a range of activities that...

Written Answers — Tax Code: Tax Code (21 Feb 2006)

Brian Cowen: I am informed by the Revenue Commissioners that the amount of VAT collected in respect of the sale of school coaches cannot be identified in the overall yield of VAT, as the information furnished on VAT returns does not require this to be identified. On introducing a VAT waiver for schools, educational institutions recognised by the State are exempt from VAT under the EU sixth VAT directive....

Written Answers — Public Sector Pay: Public Sector Pay (21 Feb 2006)

Brian Cowen: I understand that the Deputy is asking about performance-related awards paid to the members of the Garda Síochána. Following recommendations made by the review body on higher remuneration in the public sector, a scheme of performance-related awards was introduced for the deputy commissioner and assistant commissioner ranks in the Garda Síochána. Similar schemes of performance-related...

Written Answers — Departmental Expenditure: Departmental Expenditure (21 Feb 2006)

Brian Cowen: My Department is taking steps to produce a corporate procurement plan for 2006.