Results 1,661-1,680 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (13 Oct 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that where an individual, who is in receipt of partial rent supplement in respect of the rent due on a property, pays an additional amount of qualifying rent from their own funds for that property, then a claim can be made by that individual under Section 473 Taxes Consolidation Act 1997 for rent credit in respect of the additional sum paid subject...

Written Answers — Tax Yield: Tax Yield (13 Oct 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the information furnished on corporation tax returns does not generally require the yield from a particular sector or sub-sector of economic activity to be identified. In these circumstances the amount of tax revenues collected in respect of the activities specified in the question cannot be readily identified from the overall corporation tax...

Written Answers — Central Bank Reserve: Central Bank Reserve (13 Oct 2010)

Brian Lenihan Jnr: At end-September 2010, the NTMA held some €22 billion, and the National Pensions Reserve Fund €3.3 billion, in cash. The Central Bank reported in its Money and Banking Statistics published on 24 September 2010 that the balance for gold and receivables was €195 million. I am informed by the Bank that it does not hold any reserves in cash.

Written Answers — Disabled Drivers: Disabled Drivers (13 Oct 2010)

Brian Lenihan Jnr: Section 131 of the Finance Act 1992 requires that vehicles used by State residents must be registered. However, there are a number of occasions where an exemption from the payment of VRT tax may apply. One such exemption in respect of VRT and VAT, subject to certain conditions, is provided for in the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations. Statutory...

Written Answers — Tax Code: Tax Code (13 Oct 2010)

Brian Lenihan Jnr: The scheme of capital allowances for the construction or refurbishment of buildings used as private hospitals was introduced in Finance Act 2001 and came into effect in May 2002. As announced in the 2009 Supplementary Budget in April 2009 and reflected in section 8 of Finance Act 2009, the scheme of capital allowances for private hospitals was terminated from 31 December 2009 along with...

Written Answers — Redundancy Payments: Redundancy Payments (13 Oct 2010)

Brian Lenihan Jnr: For reasons of taxpayer confidentiality the Revenue Commissioners do not comment on or provide information on individual cases in relation to either businesses or personal taxpayers. However, by way of general information, the following is the position: The tax code provides for full Income Tax exemption for any statutory redundancy payment made under the 1967 Redundancy Payments Act...

Written Answers — Tax Evasion: Tax Evasion (13 Oct 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that due to their policy of confidentiality as regard taxpayers' affairs it is not possible to supply the information requested.

Written Answers — Tax Collection: Tax Collection (13 Oct 2010)

Brian Lenihan Jnr: I am assuming that by 'tax fugitives' the Deputy means Irish domiciled individuals or Irish citizens claiming to be non-resident for tax purposes. The taxation of individuals in the State is in line with that prevailing in most other OECD jurisdictions, that is to say: - individuals who are resident in the State for tax purposes (based on the number of days of presence in the State) are...

Written Answers — National Debt: National Debt (13 Oct 2010)

Brian Lenihan Jnr: The debt servicing interest costs for the period from 2007-2011 are set out in the table. The figures for 2010 and 2011 are the Budget 2010 projections. It has been signalled publicly by my Department that debt interest costs in 2010 will be approximately €350 million lower than was forecast at Budget time. The estimated 2010 outturn and 2011 forecast are currently being revised by my...

Written Answers — National Asset Management Agency: National Asset Management Agency (13 Oct 2010)

Brian Lenihan Jnr: The actual discounts on the remaining NAMA transfers will only be known to 100% accuracy following the completion of loan by loan due diligence and the valuation exercise by NAMA. The NAMA discounts quoted by me in my statement of 30th September were estimated by NAMA taking account of the detailed loan-by-loan data available to the agency from the transfer of the first two tranches and...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (13 Oct 2010)

Brian Lenihan Jnr: The Deputy should note that only dated subordinated debt was covered by the original State Guarantee. Perpetual subordinated debt was excluded. The overriding concern in the weeks before the State Guarantee was to preserve the stability of the entire banking system at a time when it was at serious risk of collapse. Given the highly volatile state of international financial markets in...

Written Answers — Semi-State Sector Remuneration: Semi-State Sector Remuneration (13 Oct 2010)

Brian Lenihan Jnr: Staff, including chief executive officers, of commercial State Sponsored Bodies do not come within the provisions of the legislation providing for the public service pension-related deduction (pension levy) introduced with effect from 1 March 2009 or the reductions in pay of public servants introduced with effect from 1st January 2010. With the exception of chief executives, the Minister...

Written Answers — Fiscal Policy: Fiscal Policy (12 Oct 2010)

Brian Lenihan Jnr: The Central Bank of Ireland publishes data on domestic institutions (note that this includes both institutions covered by the guarantee schemes and other domestic institutions). This data states that the total securities issued by general government held by these domestic institutions totalled €9.3 billion at end August 2010. With regard to the indebtedness of credit institutions, I...

Written Answers — Credit Review Office: Credit Review Office (12 Oct 2010)

Brian Lenihan Jnr: While attending at the Joint Committee on Enterprise, Trade and Innovation on 21 September, Mr Trethowan informed the Committee that "Approximately 20 applications have been sent to the office for review, of which we have dealt with about ten, of which five have been upheld." It is important to be clear that Mr Trethowan does not offer loan assistance, he can only make a recommendation after...

Written Answers — National Solidarity Bond: National Solidarity Bond (12 Oct 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 215 and 234 together. In Budget 2010, I announced the Government's intention to launch a National Solidarity Bond, the purpose of which is to allow citizens an opportunity to invest and provide money to the State to stimulate economic recovery and to assist in the maintenance and creation of employment. The necessary legislative basis was provided in this...

Written Answers — Tax Collection: Tax Collection (12 Oct 2010)

Brian Lenihan Jnr: The Income Levy is collected by the Revenue Commissioners as a component of Income Tax. In Budget 2010, it was forecast that Income Tax receipts of €11,530 million would be collected in 2010 and it was projected that the yield from the Income Levy would account for about €11⁄2 billion of the overall amount forecast for Income Tax. The 2010 Budget and Revised Estimates for Public...

Written Answers — Tax Code: Tax Code (12 Oct 2010)

Brian Lenihan Jnr: The full year gain to the Exchequer from increasing the current standard rate of corporation tax from 12.5 per cent to 15 per cent is tentatively estimated to be about €590 million. The gain includes the effect of increasing the standard rate for manufacturing companies from 12.5% to 15%, with the termination of the 10% rate of corporation tax for these companies taking effect from 31st...

Written Answers — Tax Code: Tax Code (12 Oct 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the basis for any estimate of the corporation tax yield from the action suggested by the Deputy would be the corporation tax returns filed for the year 2008 (the latest year for which such information is available). Assuming that the proposed additional tax rate would apply to the same taxable income of financial institutions to which current...

Written Answers — Tax Code: Tax Code (12 Oct 2010)

Brian Lenihan Jnr: I stated in my Budget speech that the revenue from the carbon tax will, amongst other things, be used to boost energy efficiency, to support rural transport and to alleviate fuel poverty. I would point out that the lowest income households tend to be more dependent on solid fuels such as coal and peat. In that regard the carbon tax has yet to be applied to those products. There is ongoing...

Written Answers — Fiscal Policy: Fiscal Policy (12 Oct 2010)

Brian Lenihan Jnr: The Pre-Budget Outlook is usually published in late October each year in advance of the Budget. As the Deputy is aware, work is currently under way on the preparation of a four-year budgetary plan that will set out the measures required to restore order to the public finances and bring our deficit below 3% of GDP by end 2014. The information normally contained in the Pre-Budget Outlook will...