Results 141-160 of 19,445 for speaker:Brian Cowen

Fiscal Policy. (23 Nov 2004)

Brian Cowen: The Deputy has been trying to give a false impression for months.

Tax Yield. (23 Nov 2004)

Brian Cowen: The recent figures to which Deputy Burton refers were made known to her in my reply to her parliamentary question last month on this matter. There are many reasons a person would have a nil liability. This can arise from the cumulation of tax relief for pension contributions, trading losses carried forward, capital allowances and various tax incentives. It must be accepted that, of their...

Tax Yield. (23 Nov 2004)

Brian Cowen: There has been much comment in recent weeks on these figures and the fact that a very small number of high earners have managed to pay little or no tax through the use of tax incentives. Therefore, I take this opportunity to put the figures in their correct context. Of the 270 PAYE income earners on €500,000 or more per annum, 263 were liable to tax at the 42% rate, one was liable at the...

Tax Yield. (23 Nov 2004)

Brian Cowen: I am making the point that equity is being established in the tax system generally while the Deputy is referring to a specific issue. The wider issue is such that it represents greater economic justice to have 400,000 more citizens at work. The removal of another 280,000 workers from the tax net, the reduction of the standard and higher rates of tax by 6%, the substantial increase to €246...

Tax Yield. (23 Nov 2004)

Brian Cowen: They are not.

Financial Services Regulation. (23 Nov 2004)

Brian Cowen: The Irish Financial Services Regulatory Authority, IFSRA, is currently studying the position on endowment loan shortfalls, having commenced a survey earlier this year to determine whether and to what extent there will be difficulties for customers. It would be inappropriate to reach any conclusions on this issue in advance of IFSRA's consideration of the outcome of the survey. There are...

Financial Services Regulation. (23 Nov 2004)

Brian Cowen: I do not wish to anticipate the findings of IFSRA, which was set up to provide an enhanced regulatory and supervisory regime governing the financial services industry, primarily through the enactment of the Central Bank and Financial Services Authority of Ireland Act 2003. It is the competent authority in this area and it should be allowed to get on with its work. Having commenced a survey...

Tax Code. (23 Nov 2004)

Brian Cowen: Government policy in the housing market has focused, among other things, on improving supply, assisting home ownership particularly for first-time buyers, facilitating the expansion of the private rented sector and promoting the regeneration of certain areas. In this context, a range of tax incentives exist in regard to the housing market in the case of first-time buyers and other...

Tax Code. (23 Nov 2004)

Brian Cowen: The figures the Deputy is using are figures presented by the Irish Home Builders Association as part of its pre-budget submission last year, which estimates that the total tax take from the cost of a new home is more than 40%. However, the calculation by the IHBA is based on the presentation of statistics in a manner that is open to question. In its calculation, the IHBA included VAT as a...

Tax Code. (23 Nov 2004)

Brian Cowen: I am advised by the Revenue Commissioners that as part of their ongoing assessment of potential tax risks, various methods used by taxpayers to hide undisclosed income or gains are identified. Some of these have been the subject of major investigation projects. The information assembled by Revenue from various sources, including disclosures made by taxpayers in the course of some of the...

Tax Code. (23 Nov 2004)

Brian Cowen: What people should take from this is that they should place their trust in the integrity, competence and professionalism of the Office of the Revenue Commissioners to deal with this matter comprehensively as it has dealt with other matters that come to its attention. That is what people should make of it. I have spoken to the Chairman of the Revenue Commissioners, who comes to visit me from...

Tax Code. (23 Nov 2004)

Brian Cowen: I am not aware of any geographic area that has greater virtue than any other in terms of compliance with taxation in the 1970s or any other decade. Neither do I believe the Deputy is so aware.

Tax Code. (23 Nov 2004)

Brian Cowen: Furthermore, it was my predecessor who introduced a package of powers that can cater for investigations of the type being planned in this instance. Much of the taxation which was not paid is now being paid because of a more compliant culture brought about by the policies pursued by this Government. Those policies contrast starkly with the policies of the Administration that was in place when...

Tax Collection. (23 Nov 2004)

Brian Cowen: The issue of making unused tax credits refundable was considered by a working group established under the Programme for Prosperity and Fairness to examine the role refundable tax credits can play in the tax and welfare systems. The group was made up of representatives of the social partners and was chaired by my Department. The current established approach to taxation in Ireland and other...

Tax Collection. (23 Nov 2004)

Brian Cowen: I am advised by the Revenue Commissioners that the most recent estimated cost of making all personal tax credits refundable when they are unused, including personal employee credits, the home care tax credit, the one-parent family credit and the age credit, as well as the minor personal credits, such as the incapacitated child credit and the blind person's credit, would be approximately...

Tax Collection. (23 Nov 2004)

Brian Cowen: We are getting into a potential budgetary area and I am not prepared to comment on what, if any, amendment I will make to the tax credits system. However, with regard to the broader point on the facts, costs and problems that come with this, there are negative effects with such a system of refundable tax credits without the characteristics of a partial basic income system.

Tax Collection. (23 Nov 2004)

Brian Cowen: I am coming to the point. I am sorry if I do not answer as precisely as the Deputy wishes. I could say to the Deputy that he could have asked his question differently or more quickly but he would not find that appropriate or helpful. I will answer the Deputy's question. The issue of the impact of secondary benefits is a continuing problem.

Tax Collection. (23 Nov 2004)

Brian Cowen: The Deputy does not have to interrupt me every time I open my mouth. Question Time is about providing information, not interrupting each other.

Tax Collection. (23 Nov 2004)

Brian Cowen: There is no point being juvenile about it.

Tax Collection. (23 Nov 2004)

Brian Cowen: I made a point in regard to this question. It was suggested that I have a discussion with the Minister for Social and Family Affairs in regard to the impact secondary benefits have in preventing people coming into the jobs market. I will take up that offer. However, an economic paper prepared by the European Commission in 2001 refers to the major negative aspects regarding this system as...