Written answers
Tuesday, 2 February 2010
Department of Finance
Redundancy Payments
12:00 pm
Jack Wall (Kildare South, Labour)
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Question 231: To ask the Minister for Finance the position regarding the case of a person (details supplied) in County Kildare who will take voluntary redundancy; the tax liability that will apply to them; their entitlement to social welfare benefit; and if he will make a statement on the matter. [4690/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I have been advised by the Revenue Commissioners that generally speaking, all payments made by employers to employees are regarded as "Pay" for tax purposes. Lump sum payments on a redundancy or a retirement, however, qualify for special tax treatment - they may be exempt from tax or may qualify for some relief from tax.
The person concerned should submit a completed tax return for the relevant year which should include details of the lump sum payment to the Revenue Commissioners, East and South East Region, PAYE Mail Centre, P.O. Box 1, Rosslare Harbour, Co Wexford. ^^ EU Directives. ^^
Joe Costello (Dublin Central, Labour)
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Question 232: To ask the Minister for Finance if there are EU directives which require to be transposed into primary or secondary legislation; the list of such directives; the date they were drafted by the Commission; when he intends to transpose them into domestic law; and if he will make a statement on the matter. [4714/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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There are currently three directives awaiting transposition into primary or secondary legislation under my Department's responsibility which have exceeded their transposition deadline. In the case of two of these the transposition timeline was late last year and it is expected that they will be transposed by means of Statutory Instrument shortly. The third outstanding directive has a January 2010 transposition date and will be brought into effect in the 2010 Finance Bill. A further four directives are due for transposition before the end of this year and three others are due in 2011. There is one directive with a transposition deadline of 2012. Details of these directives are set out in the following table. My Department is working to ensure the comprehensive transposition of these directives.
| EU Directives to be transposed by the Department of FinanceDirectives overdue for transposition | |||
| Directive Number | Date of AdoptionTransposition Deadline | Expected Transposition Date | Likely Method ofTransposition |
| 2007/60/ECDirective 2007/60/EC of the European Parliament and of the Council of 23 October 2007 on the assessment and management of flood risks | 23/10/200726/11/2009 | A draft SI to transpose this directive into secondary legislation is nearing completion and will be signed within the next month. | Statutory Instrument |
| 2007/66/ECDirective 2007/66/EC of the European Parliament and of the Council of 11 December 2007 amending Council Directives 89/665/EEC and 92/13/EEC with regard to improving the effectiveness of review procedures concerning the award of public contracts | 11/12/200720/12/2009 | It is anticipated that the Regulations will come into force shortly once the necessary Statutory Instrument is signed. | StatutoryInstrument |
| 2008/118/ECCouncil Directive 2008/118/EC of 16 December 2008 concerning the general arrangements for excise duty and repealing Directive 92/12/EEC | 16/12/200801/01/2010 | March 2010 | Finance Bill |
| Directives due to be transposed by end 2010 | |||
| Directive Number | Date of AdoptionTransposition Deadline | Expected Transposition Date | Likely Method ofTransposition |
| 2009/44/ECDirective 2009/44/EC of the European Parliament and of the Council of 6 May 2009 amending Directive 98/26/EC on settlement finality in payment and securities settlement systems and Directive 2002/47/EC on financial collateral arrangements as regards linked systems and credit claims (Text with EEA relevance) | 06/05/200930/12/2010 | By transposition deadline | Statutory Instrument |
| Directive 2008/48/ECDirective 2008/48/EC establishes a harmonised legal framework for the provision of credit in the EU. It replaces Directive 87/102/EEC which laid down minimum rules for consumer credit agreements within the EU. | 22/05/200810/06/2010 | By transposition deadline | Statutory Instrument |
| Directive 2009/83/ECCommission Directive 2009/83/EC of 27 July 2009 amending certain Annexes to Directive 2006/48/EC of the European Parliament and of the Council as regards technical provisions concerning risk management (Text with EEA relevance) | 27/07/200931/10/2010 | By transposition deadline | Statutory Instrument |
| 2009/111/ECDirective 2009/111/EC of the European Parliament and of the Council of 16 September 2009 amending Directives 2006/48/EC, 2006/49/EC and 2007/64/EC as regards banks affiliated to central institutions, certain own funds items, large exposures, supervisory arrangements, and crisis management (Text with EEA relevance) | 16/12/200831/12/2010 | By transposition deadline | Statutory Instrument |
| Directives due to be transposed in 2011 and 2012 | |||
| Directive Number | Date of AdoptionTransposition Deadline | Expected Transposition Date | Likely Method ofTransposition |
| Directive 2009/110/ECDirective 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC | 16/12/200930/04/2011 | By transposition deadline | Statutory Instrument |
| Directive 2009/69/ECCouncil Directive 2009/69/EC of 25 June 2009 amending Directive 2006/112/EC on the common system of value added tax as regards tax evasion linked to imports | 25/06/200901/01/2011 | March 2010 | Finance Bill |
| Directive 2009/162/ECCouncil Directive 2009/162/EU of 22 December 2009 amending various provisions of directive 2006.112/EC on the common system of value added tax. This is a technical Directive. | 22/12/200901/01/2011 | By Transposition deadline | Statuary Instrument (Ministerial Regulations under the European Communities Act |
| Directive 2009/138/ECDirective 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (Text with EEA relevance) | 25/11/200931/12/2012 | By transposition deadline | Statutory Instrument |
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