Results 1,941-1,960 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that figures are not captured in such a way as to provide a dedicated basis for compiling an estimate of the gain to the Exchequer from the change mentioned in the question. Accordingly, the specific information requested by the Deputy is not available.

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: If an employee is given free shares by his or her employer, the employee is normally chargeable to income tax on the value of the shares, just as the employee would be chargeable to income tax on the value of a cash bonus. However, where the shares are awarded through a Revenue approved profit sharing scheme, the employees are not chargeable to income tax on the value of the shares awarded,...

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: Given that holding companies of domestic groups do not generally have profits chargeable to Corporation Tax, thus imposing a 1% levy would not provide a yield for the Exchequer, I am presuming that the Deputy is referring to holding companies with foreign subsidiaries. It is not possible to predict the effect such a levy would have on the behaviour and decisions of holding companies with...

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: The rationale behind the Stamp Duty exemption for transfers of loan capital is to facilitate business by avoiding the imposition of a Stamp Duty charge in cases where it was not intended that such a charge should apply. I am informed by the Revenue Commissioners that figures are not captured in such a way as to provide a dedicated basis for compiling estimates of the impact on the Exchequer...

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: The rationale for the changes introduced in Finance Act 2010 arises principally from the new European UCITS (Undertakings for Collective Investment in Transferable Securities) IV Directive which will become operational on 1 July 2011. The measures extended the circumstances in which Irish investment undertakings can avail of existing Stamp Duty relief following a merger or reorganisation...

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 158 and 159 together. I am informed by the Revenue Commissioners that figures are not captured in such a way as to provide a dedicated basis for compiling estimates of the impact on the Exchequer from the changes mentioned in the questions. Accordingly, the specific information requested by the Deputy is not available.

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: The Taxes Consolidation Act 1997 provides that Corporation Tax is not charged on dividends received by a company from another company resident in the State, subject to certain exceptions. The reason for this exemption is that such dividends are paid out of profits of the dividend-paying company which have already been subject to Corporation Tax and to apply a corporation tax charge on the...

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 161 and 163 together. Deferral of Capital Gains Tax is provided for in a company reorganisation or amalgamation that does not involve a cash payment. These are generally referred to as "paper for paper" transactions. If the company reorganisation or amalgamation involves a cash payment, the cash element is taxed in the normal way. Deferring tax in the case...

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: As transfers between Group Companies are not taxable transactions, the Revenue Commissioners do not have information regarding such transactions that would enable the figure requested to be estimated. The Capital Gains Tax Acts permit the transfer of assets within a Corporate Group on a no gain/no loss basis for Capital Gains Tax purposes and tax is then levied when assets are sold outside...

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 164 and 165 together. I am informed by the Revenue Commissioners that figures are not captured in such a way as to provide a dedicated basis for compiling estimates of the impact on the Exchequer from the changes mentioned in the questions. Accordingly, the specific information requested by the Deputy is not available.

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that figures are not captured in such a way as to provide a dedicated basis for compiling an estimate of the gain to the Exchequer from the change mentioned in the question. Accordingly, the specific information requested by the Deputy is not available.

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the 4 year write-off period for stallions for tax purposes, which was introduced on 1 August 2008 (at the time the tax exemption for stallion stud fees was abolished), is still in existence. The four-year write down period reflects the fact that some stallions have a short nomination life and also takes into account that the majority of...

Written Answers — Public Service Contracts: Public Service Contracts (30 Sep 2010)

Brian Lenihan Jnr: The use of random selection to establish a short-list for a public sector tender competition can be appropriate and is permissible under public procurement rules and guidelines, provided that it is conducted on an open and non-discriminatory basis. Public Procurement guidance issued by my Department covers this matter and sets out the circumstances and manner in which such a process may be...

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: It remains essential, in the context of the forthcoming Budget, to send a clear, decisive signal that Ireland is determined to continue to adopt feasible, sustainable budgetary measures to underpin the public finances over the long-term. As such, it would not be appropriate to consider introducing a relief of this nature, one which would by definition be somewhat selective and likely to...

Written Answers — Fiscal Policy: Fiscal Policy (30 Sep 2010)

Brian Lenihan Jnr: As regards capital expenditure, the Government published Infrastructure Investment Priorities for 2010 – 2016 in July 2010. The core rationale for the current investment in public infrastructure is to create the framework conditions to facilitate a return to growth and thereby support sustainable job creation into the longer term. This can be achieved through capital investment in...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (30 Sep 2010)

Brian Lenihan Jnr: The Deputy will be aware that a Statutory Instrument which extends the Eligible Liabilities Guarantee (ELG) Scheme to 31 December 2010 was approved by both Houses of the Oireachtas yesterday, having previously received EU State aid approval. The Statutory Instrument provides the legislative basis for the extension of the ELG Scheme to 31 December 2010 for both deposits and liabilities...

Written Answers — Tax Collection: Tax Collection (29 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that on the introduction of vehicle registration tax (VRT) on 1 January 1993, there was a requirement for all vehicles to be presented for examination prior to registration. However, by the early years of this decade, the Revenue Commissioners had adopted a risk-based approach to the registration of vehicles, thus eliminating the need for all...

Written Answers — Tax Code: Tax Code (29 Sep 2010)

Brian Lenihan Jnr: Tax relief on individual pension contributions is currently allowed at the taxpayer's marginal income tax rate, that is, at the standard or higher rate of income tax as appropriate in each case. The availability of tax relief at 33% to all taxpayers regardless of their marginal rate would result in a reduction in the tax relief on pension contributions available to higher rate taxpayers and...

Written Answers — Commercial Property Valuation: Commercial Property Valuation (29 Sep 2010)

Brian Lenihan Jnr: The Valuation Act, 2001 which came into effect on 2nd May, 2002, provides for the revaluation of all commercial and industrial property. This is a major project in nature and scale, all the more so given that such a nationwide exercise has not been undertaken since the mid-1800's. The Commissioner of Valuation has sole responsibility for all valuation matters under the Valuation Act 2001,...

Written Answers — Tax Code: Tax Code (29 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that on the introduction of vehicle registration tax (VRT) on 1 January 1993, there was a requirement for all vehicles to be presented for examination prior to registration. However, by the early years of this decade, the Revenue Commissioners had adopted a risk-based approach to the registration of vehicles, thus eliminating the need for all...