Written answers

Wednesday, 1 June 2005

8:00 pm

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
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Question 149: To ask the Minister for Finance his proposals to reduce taxation on fuels used by the road transport and haulage sector; and if he will make a statement on the matter. [18698/05]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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As the Deputy will be aware, changes in taxation are made in the context of the annual budget and, accordingly, any requests made regarding changes in tax rates are considered in the period leading up to the budget. The Deputy will appreciate that it is neither practical nor prudent to adjust tax rates between budgets. However, it should be noted that Ireland's mineral oil tax on petrol and diesel is below that of our main EU trading partners.

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
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Question 150: To ask the Minister for Finance the extent to which tax incentives are currently available to producers of alternative energy; the extent to which he is prepared to improve on this situation; and if he will make a statement on the matter. [18699/05]

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
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Question 151: To ask the Minister for Finance the taxation inducements he has to encourage the production of wind energy; and if he will make a statement on the matter. [18700/05]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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I propose to take Questions Nos. 150 and 151 together.

There is currently in place a scheme of tax relief for corporate investment in certain renewable energy projects, including those successful in the alternative energy requirement competitions. To qualify for the relief the energy project must be in the solar, wind, hydro or biomass technology categories, and be approved by the Minister for Communications, Marine and Natural Resources. The relief is capped at the lesser of 50% of all capital expenditure or €9.525 million for a single project. Investment by a company or group is capped at €12.7 million per annum, and unless the shares are held for at least five years by the company the relief will be withdrawn.

Section 39 of Finance Act 2004 extended the qualifying period for the relief to 31 December 2006. This section was subject to EU state aid approval which issued on 20 August 2004.

Tony Gregory (Dublin Central, Independent)
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Question 152: To ask the Minister for Finance if a person whose gross salary in 2004 was €79,000 and whose gross salary in 2005 is €82,000 will have a reduced net take home pay after tax and PRSI reductions. [18701/05]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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I assume that the Deputy is referring to a single employee who is liable for full rate PRSI deductions and has the personal tax credit and PAYE credit only. For 2004, such an employee earning €79,000 had a net take home pay of €51,416. For 2005, such an employee earning €82,000 will have a net take home pay of €53,614. The increase in net take home pay is €2,198 or 4.27%. The figures are rounded to the nearest euro.

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