Results 19,221-19,240 of 19,445 for speaker:Brian Cowen

Written Answers — Tax Code: Tax Code (23 Nov 2004)

Brian Cowen: It is my understanding that this question relates to a detailed submission by Dublin City Council to a major independent review of local government financing in Ireland which is being carried out. The Minister for the Environment, Heritage and Local Government has set up a steering group to oversee this review, which is expected to be completed in spring 2005. At this juncture it would be...

Written Answers — Aer Rianta: Aer Rianta (23 Nov 2004)

Brian Cowen: I refer the Deputy to my previous reply of 14 October. The previous Minister, as shareholder, indicated his consent to arrangements, outlined to him by the chairman of Aer Rianta on 24 September last, concerning the package the board proposed to make to the deputy chief executive who was leaving the company. I understand that the proposed package included a lump sum of two and a half times...

Written Answers — Banking Sector: Banking Sector (23 Nov 2004)

Brian Cowen: As the Deputy is no doubt aware, companies are liable to corporation tax on their profits at the relevant tax rate. Since 1 January a new standard rate of corporation tax of 12.5% has applied across the board to the trading profits of companies. If a particular company's net trading profits for tax purposes increase, then it will pay more corporation tax. The Finance Act 2003 provided for a...

Written Answers — Tax Code: Tax Code (23 Nov 2004)

Brian Cowen: A range of tax incentives exist in the housing market in the case of first-time and other owner occupiers, investors and tenants. For owner-occupiers, mortgage interest relief at the standard rate is granted in respect of interest paid up to a ceiling on loans used for the purchase or improvement of a person's sole or main residence. Preferential arrangements exist for first-time buyers over...

Written Answers — Decentralisation Programme: Decentralisation Programme (23 Nov 2004)

Brian Cowen: The decentralisation implementation group in its second report published in July 2004, recognised that a professional and comprehensive range of support services should be provided to assist decentralising staff with the myriad of issues likely to arise. The number of moves of staff and their families provides a significant market opportunity for providers of professional and other services....

Written Answers — Tax Code: Tax Code (23 Nov 2004)

Brian Cowen: I am aware of the taxation implications for farmers arising from the decision to fully decouple certain direct payment schemes from production levels with effect from 2005. In effect all FEOGA premia payments will from 2005 be replaced by a single payment to all eligible farmers. The Department of Agriculture and Food is committed to making the first annual payment under the new arrangement...

Written Answers — American Tax Amnesty: American Tax Amnesty (23 Nov 2004)

Brian Cowen: The American Jobs Creation Act 2004 gives US multinationals a one-off chance to repatriate to the US accumulated profits held outside the US by availing of a special effective corporate tax rate of 5.25%. Non-US profits repatriated to the US are normally taxed at between 35% and 40%. This reduced rate of corporation tax will only be available for a 12 month period. President Bush recently...

Written Answers — Capital Expenditure: Capital Expenditure (23 Nov 2004)

Brian Cowen: Net voted capital spending to the end of October 2004 amounted to €3.051 billion. Under the rolling multi-annual capital envelopes announced in budget 2004, Departments are allowed to carry over to the following year up to 10% of voted capital savings in the current year. Latest assessments from Departments of the full year outturn, as set out in the recently published Abridged Estimates...

Written Answers — EU Cohesion Policy: EU Cohesion Policy (23 Nov 2004)

Brian Cowen: The central aim of EU cohesion policy is to reduce the economic and social disparities of the Union. The member states, their regions and the Commission are supported in their policy efforts mainly by the use of the Structural and Cohesion Funds. In Ireland's case, these funds, valued at around €3.7 billion over the period 2000 to 2006, are delivered through the community support framework,...

Written Answers — Tax Yield: Tax Yield (23 Nov 2004)

Brian Cowen: At the Abridged Estimates Volume, AEV, Conference last week, I stated that, as of then, my Department was anticipating an Exchequer borrowing requirement of about €0.7 billion compared to a budget day forecast of €2.8 billion for 2004. The difference was mainly due to about €2 billion extra in tax receipts and some savings on expenditure. There is still a lot of tax to come in so such...

Written Answers — Tax Harmonisation: Tax Harmonisation (23 Nov 2004)

Brian Cowen: It is not clear what the Deputy has in mind by the reference to "tax convergence". However, if by tax convergence the Deputy means the Commission's proposals for a common consolidated tax base or the harmonisation of rates, then Ireland is opposed to such developments. It is Ireland's position that each member state must be in a position to decide for itself the appropriate structure of its...

Written Answers — Tax Code: Tax Code (23 Nov 2004)

Brian Cowen: As I previously told the House, tax expenditures are regularly reviewed and are invariably looked at in the context of the annual budget and Finance Bill process to ensure they continue to meet the purpose or purposes for which they were introduced. Where tax changes are announced in the budget, they are set out in the summary of budget measures together with an estimated cost or yield, where...

Written Answers — Special Savings Incentive Scheme: Special Savings Incentive Scheme (23 Nov 2004)

Brian Cowen: I am informed by the Revenue Commissioners that, based on the analysis of the 2003 returns furnished by all qualifying savings managers, the total number of active accounts at 31 December 2003 was 1,113,880 and the average monthly subscription at that date was €165. As indicated in replies to previous questions, it is not possible to give a definitive answer as to the eventual cost of the...

Written Answers — Tax Code: Tax Code (23 Nov 2004)

Brian Cowen: I understand that the Chambers of Commerce of Ireland has made this proposal in the context of local government financing, which is currently the subject of an independent review commissioned by the Minister for the Environment, Heritage and Local Government. This review is expected to be completed in spring 2005. At this stage, it would be premature of me to offer any comment on the possible...

Written Answers — Decentralisation Programme: Decentralisation Programme (23 Nov 2004)

Brian Cowen: The latest figures from the central applications facility show there is very substantial interest in the programme. The figures for the Civil Service are much better than those for the State agencies. Unlike the State agencies, the Civil Service has considerable previous experience of decentralisation and has a long tradition of interdepartmental transfers. I see no reason in principle State...

Written Answers — Tax Code: Tax Code (23 Nov 2004)

Brian Cowen: Agricultural relief and business relief are two separate and distinct reliefs. Where agricultural relief has been granted in respect of any property, business relief will not apply to that property. Relief from capital acquisitions tax for gifts and inheritances in respect of agricultural property was introduced in 1976. The relief now amounts to a reduction of 90% in respect of the market...

Written Answers — Public Sector Remuneration: Public Sector Remuneration (23 Nov 2004)

Brian Cowen: Following the recommendations of the review body on higher remuneration in the public sector in its report dated 25 September 2000, the Government decided to replace the then existing scheme in the Civil Service with a new scheme of performance-related awards and to introduce the new scheme in the Garda Síochána and the Defence Forces. The new scheme applies to Civil Service posts at the...

Written Answers — Tax Code: Tax Code (23 Nov 2004)

Brian Cowen: I presume the question refers to replies that I have given to previous Dáil questions about the costing of tax reliefs. Information on the cost of tax reliefs is usually sourced from the tax returns of individuals and companies claiming the reliefs. Specific information is not currently available on the costs of certain reliefs and there are more than 33 specific provisions, which serve to...

Written Answers — Non-Resident Accounts: Non-Resident Accounts (23 Nov 2004)

Brian Cowen: Authorised Revenue officers are empowered to make an application to a judge of the High Court seeking an order requiring financial institutions to supply names, addresses and other relevant information concerning account holders who may have held bogus non-resident deposit accounts. Such applications are made under section 908 of the Taxes Consolidation Act 1997, as amended by the Finance Act...

Written Answers — Tax Code: Tax Code (23 Nov 2004)

Brian Cowen: I am informed by the Revenue Commissioners that the relevant available information relates to the costof tax relief on pension contributions by employers, employees and self employed and the exemption of income and gains in the pension funds together with the numbers of employees contributing to approved superannuation schemes and the numbers of claimants in respect of retirement annuity...