Enda Kenny (Mayo, Fine Gael)
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Question 237: To ask the Tánaiste and Minister for Finance the stockbroking firms engaged by his Department, or by the agencies under his aegis, during the years 2002, 2003 and 2004; the fees or charges paid in each case; and if he will make a statement on the matter. [1975/08]

Brian Cowen (Laois-Offaly, Fianna Fail)
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In 2002 my Department paid €95,231 to Merrion Capital Group Ltd. for advice in relation to the sale of the Minister for Finance's shareholding in the ACC Bank. Apart for this payment no other stockbroking advice was sought by my Department for the years 2002 to 2004.

In relation to the agencies under the aegis of my Department I am advised by the Revenue Commissioners that they did not engage any stockbroking firm during the years 2002, 2003 and 2004.

However, for completeness, they have advised me that the law provides for the payment of a small fee to intermediaries, including brokers, for their role in operating Encashment tax — a withholding tax which is imposed when an Irish resident receives a foreign dividend through an Irish intermediary.

The amounts paid by Revenue to brokers in the period 2002 to 2004 were as follows;

2002: €47,678

2003: €48,602

2004: €51,895