Written Answers Nos. 185 - 203
185. Deputy John McGuinness asked the Minister for Finance if a tax clearance certificate will be issued to a company (details supplied) in view of the fact that the company has clarified on more than one occasion that corporation tax is not due and the company does not engage in a trade. [40415/13]
View answerI am informed by the Revenue Commissioners that a Tax Clearance Certificate issued for the company (details supplied) on 29/08/2013.
186. Deputy Kevin Humphreys asked the Minister for Finance his plans to open recruitment in the printing works of the currency production division over the next year; and if he will make a statement on the matter. [40420/13]
View answerAs Minister for Finance, I have no function in the recruitment of staff in the Central Bank. I have been informed by the Central Bank that their policy is to recruit resources as required to satisfy their business needs, and the recruitment policy for the Central Bank's printing works is no exception to this. Furthermore, I have been advised by the Central Bank that all of the vacancies advertised have been open to external candidates to apply. The Central Bank is satisfied that the staffing levels and associated recruitment has been, and continues to be, appropriate to its business needs.
187. Deputy Eoghan Murphy asked the Minister for Finance the amount of property tax that has been raised this year and the anticipated amount to be raised in a full year, broken down by electoral constituency and by local authority. [40464/13]
View answerI am advised by the Revenue Commissioners that compliance data for Local Property Tax (LPT) are only available broken down by city and county councils nationally and the most up to date figures available are published on the Revenue website at http://www.revenue.ie/en/tax/lpt/lpt-preliminary-data.pdf. More up-to-date data will be published in due course.
The Commissioners further advise it is not possible to state at this point the precise amount of LPT which is expected to be collected for 2013 or 2014 for each local authority. There are a numbers of factors which could affect that figure, including the continuation of the very strong level of voluntary compliance that was achieved in 2013, the impact of Revenue’s national compliance programme to follow-up on those liable persons who have failed to meet their LPT obligations for 2013 and the on-going level of deferrals of LPT. However, since the LPT charge for 2013 was for a half year, a reasonable estimate at this stage in respect of 2014 would be to double the published figures for each local authority.
188. Deputy Eoghan Murphy asked the Minister for Finance if he has any concerns regarding the operation of certain foreign banks here (details supplied). [40465/13]
View answerThe Central Bank of Ireland has advised me that it cannot comment on specific issues with regard to a regulated financial institution. However, the Central Bank has informed me that all lenders are required to comply with the requirements of the statutory Code of Conduct on Mortgage Arrears (CCMA). The CCMA applies to the mortgage lending activities of all regulated entities, except credit unions, operating in the State, including:
- a financial services provider authorised, registered or licensed by the Central Bank of Ireland; and
- a financial services provider authorised, registered or licensed in another EU or EEA Member State and which has provided, or is providing, mortgage lending activities in the State.
The revised CCMA was published on 27 June 2013 and came into effect from 1 July 2013. The CCMA provides an integrated and cohesive package of consumer protection measures for borrowers facing or in mortgage arrears. It reflects the current mortgage arrears situation and seeks to deliver on the following principles, to:
- ensure appropriate resolution of each borrower’s arrears situation;
- ensure that lenders deal with borrowers in a fair and transparent manner;
- support and facilitate meaningful engagement between lenders and borrowers; and
- ensure borrower awareness of the benefits of co-operating with their lender, and the consequences of not co-operating.
All regulated firms are also required to comply with the statutory Code of Conduct for Business Lending to SMEs.
189. Deputy Gerry Adams asked the Minister for Finance the arrangements put in place by his Department to ensure compliance with the Official Languages Act, specifically requirements for signage in departmental offices, schools, third level institutions; details of any assessments undertaken by departmental staff to assess requirements; the number of signs assessed; when any corrective actions were put in place; if any or all of the actions taken by his Department were within the designated timeframes set out in legislation, and if, not the reasoning for same; and if he will make a statement on the matter. [40546/13]
View answerIn response to the question from the Deputy, my Department has signage in all its buildings in both the Irish and English language. This applies to both internal and external signs. A review of our signage was recently performed by An Coimisinéir Teanga and we await the results and recommendations of that review. There are no schools or third level institutions within the remit of my Department.
190. Deputy Kevin Humphreys asked the Minister for Finance if he will provide a list of the Acts or specific provisions of Acts under his Department that have not yet been commenced; if it is intended to commence the provision in each case; if so, when; and if he will make a statement on the matter. [40599/13]
View answerUnfortunately the information requested by the Deputy could not be collated, by my Department, in the time available. My Department will respond directly to the Deputy as soon as possible.
191. Deputy Arthur Spring asked the Minister for Finance the period of notice that an international insurance company licensed in Ireland is obliged to give to a consumer prior to that company's withdrawal from the Irish market; if the company is obliged to notify the consumer directly as opposed to notifying the brokers; and if he will make a statement on the matter. [40620/13]
View answerAt the outset, the Deputy should note that in my role as Minister for Finance I have responsibility for the development of the legal framework governing financial regulation, including insurance. The day to day responsibility for the supervision of financial institutions is a matter for the Central Bank which is statutorily independent in the exercise of its regulatory functions.
I have made enquires with the Bank and they have informed me that according to Chapter 3.11 of the consumer protection code 2012 ‘where a regulated entity intends to cease operating, merge with another, or to transfer all or part of its regulated activities to another regulated entity it must:
a) notify the Central Bank immediately;
b) provide at least two months’ notice to affected consumers to enable them to make alternative arrangements;
c) ensure all outstanding business is properly completed prior to the transfer, merger or cessation of operations or, alternatively in the case of a transfer or merger, inform the consumer of how continuity of service will be provided following the transfer or merger; and
d) in the case of a merger or transfer of regulated activities, inform the consumer that their details are being transferred to the other regulated entity, if that is the case’.
192. Deputy Catherine Murphy asked the Minister for Finance the level of compliance with European Union directives within his ministerial areas of responsibility; the current fines resulting from non-compliance and potential fines resulting from present non-compliance the State is or may be exposed to; and if he will make a statement on the matter. [40635/13]
View answerIn response to the Deputy’s question there has been full compliance by my Department with European Union directives with the exception of the Financial Conglomerates Directive (FICOD) which was due for transposition on the 10th June 2013. There are currently no fines resulting from non-compliance and any potential fines resulting from non-compliance with the Financial Conglomerates Directive are unknown at this time.
193. Deputy Kevin Humphreys asked the Minister for Finance when the extension of the universal social charge to over 70s with pensions of more than €60,000 was implemented; and what was the resultant yield on this measure thus far to the end of August in 2013; the projected yield for the full year; and if he will make a statement on the matter. [40649/13]
View answerThe position is that in Budget 2013, I announced that that the reduced rates of USC for those aged 70 years and over, as well as for medical card holders, with an income in excess of €60,000 would be discontinued from 1 January 2013. This measure was estimated to yield €25 million in 2013 and €38 million in a full year. I am informed by the Revenue Commissioners that figures of USC receipts are not captured in such a manner as would enable the impact of this change to be separately identified.
194. Deputy Kevin Humphreys asked the Minister for Finance when the measure was implemented that would end the relief on lump sums and severance payments over €200,000, and the resultant yield on this measure thus far to end August in 2013 and projected yield for full year; and if he will make a statement on the matter. [40650/13]
View answerIn Budget 2013, I announced that Top Slicing Relief would no longer be available from 1 January 2013 in respect of ex-gratia lump sums paid on retirement from, or termination of, an office or employment, where the non-statutory payment was €200,000 or over. This measure was estimated to yield €10 million in a full year. However, as the relief is only granted by Revenue in respect of a claim made after the end of tax year in which the ex-gratia payment was made, there is no expected yield in 2013. I am informed by the Revenue Commissioners that figures of income tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified going forward.
195. Deputy Kevin Humphreys asked the Minister for Finance his plans to extend film relief and the implementation date of individual investors being taken out of film relief and what are the savings that will accrue from this; and if he will make a statement on the matter. [40651/13]
View answerIn Budget 2013 I announced a number of changes to the existing scheme for film relief which was contained in Section 481 of the Consolidated Taxes Act 1997. The legal provisions required to enact those changes were contained in Finance Act 2013. Those changes will take effect from 1 January 2016. The changes to Section 481, which were enacted in response to a comprehensive review and cost benefit analysis by my Department, will mean that the tax benefits will, from 2016 onwards, accrue to the film producers rather than individual investors as has been the case. This type of arrangement is regarded as an international standard and is used in many jurisdictions. The new arrangements are also expected to result in savings for the Exchequer, which the review estimated to be approximately €14m per annum, based on 2011 figures. The operation of the film relief scheme is kept under regular review by my Department in conjunction with the Department of the Arts, Heritage and the Gaeltacht.
196. Deputy Kevin Humphreys asked the Minister for Finance on the issue of increasing capital gains tax by 3% in budget 2013, when this measure was implemented and the resultant yield on this measure thus far to the end of August 2013; the projected yield for the full year; and if he will make a statement on the matter. [40652/13]
View answerBudget 2013 provided for increasing the rate of capital gains tax from 30% to 33% for disposals made after 5 December 2012. This was implemented by way of Financial Resolution on Budget Night and was subsequently provided for in Finance Act 2013. The change was estimated to yield €50 million in 2013. However, I am informed by the Revenue Commissioners that figures of capital gains tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified. It may be noted that as this change applied to disposals made after 5 December, 2012 the bulk of capital gains tax receipts affected by the change are not due for payment until 15 December, 2013.
197. Deputy Kevin Humphreys asked the Minister for Finance on the issue of the increase in tax on capital acquisitions of gifts and inheritances by 3% in budget 2013, when this measure was introduced and the resultant yield on this measure thus far to the end of August 2013; the projected yield for the full year; and if he will make a statement on the matter. [40653/13]
View answerBudget 2013 provided for increasing the rate of capital acquistions tax from 30% to 33% for gifts or inheritances taken after 5 December 2012. This was implemented by way of Financial Resolution on Budget Night and was subsequently provided for in Finance Act 2013. The change referred to was estimated to yield €20 million in 2013. However, I am informed by the Revenue Commissioners that figures for capital acquisitions tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified. It may be noted that as this change applies to gifts or inheritances taken after 5 December 2012 the bulk of capital acquisitions tax receipts affected by the change are not due for payment until 31 October 2013, or 14 November 2013 where returns and payment are made through Revenue On-Line System.
198. Deputy Kevin Humphreys asked the Minister for Finance the measure to reduce tax free thresholds for gifts and inheritances introduced in budget 2013 and the resultant yield on this measure thus far to the end of August 2013; and if he will make a statement on the matter. [40654/13]
View answerBudget 2013 provided for reducing the capital acquisitions tax group tax free thresholds by 10% for gifts or inheritances taken after 5 December 2012. This was implemented by way of Financial Resolution on Budget Night and was subsequently provided for in Finance Act 2013. The change was estimated to yield €10 million in 2013. However, I am informed by the Revenue Commissioners that figures of capital acquisitions tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified. It may be noted that as this change applies to gifts or inheritances taken after 5 December 2012 the bulk of capital acquisitions tax receipts affected by the change are not due for payment until 31 October 2013, or 14 November 2013 where returns and payment are made through Revenue On-Line System.
199. Deputy Kevin Humphreys asked the Minister for Finance if the budgetary measure announced in December 2013 of cutting the tax relief on pensions of more than €60,000 would be or has been implemented; the estimated savings from the measure; and if he will make a statement on the matter. [40656/13]
View answerIn my Budget 2013 speech, I announced that changes to give effect to the commitment in the Programme for Government to cap taxpayers’ subsidies for pension schemes which deliver pension income of more than €60,000 will be put in place in 2014. An examination of the various options for change, including possible changes to the Standard Fund Threshold (SFT) regime, is continuing. An estimated full year saving of €250 million was provided for in respect of these changes, as outlined on page A 10 of the Budget 2013 booklet. The Budget 2013 booklet makes clear, however, that the savings figure is provisional as further detailed analysis of the necessary changes and their impact would be required. That detailed analysis is ongoing.
200. Deputy Kevin Humphreys asked the Minister for Finance if membership fees for voluntary trade associations for businesses (details supplied) are eligible for tax relief or may be written off against a company's corporate tax bill; the cost of same in 2010, 2011 and 2012; the rate at which relief is given; and if he will make a statement on the matter. [40662/13]
View answerIn computing trading profits chargeable to corporation tax at the 12.5% rate, companies are allowed to deduct costs incurred on membership fees for voluntary trade associations for businesses, where membership is wholly and exclusively for the purpose of their trade. Statistical information on the amounts paid on membership fees for voluntary trade associations is not separately identified in the tax returns filed by companies and, as a consequence, the cost to the Exchequer of amounts deductible cannot be estimated.
201. Deputy Michael McCarthy asked the Minister for Finance if he has considered in detail the pre-budget submission of the Irish Congress of Trade Unions; and if he will make a statement on the matter. [40665/13]
View answerMy Department has so far received in excess of 450 Pre-Budget Submissions from a wide range of groups and individuals. These are being considered by the relevant officials in the context of Budget and Finance Bill preparation. I can confirm that a submission from the Irish Congress of Trade Unions has been received. I would also advise the Deputy that I recently met with Congress in the context of Budget preparation. However he will be aware also that it is not the practice of the Minister for Finance to discuss the details of measures which may be under consideration as part of the Budget and Finance Bill.
202. Deputy Michael Conaghan asked the Minister for Finance if he will provide a breakdown of excise returns by category and by month from January 2012 to September 2013. [40682/13]
View answerI am informed by the Revenue Commissioners that the breakdown in excise returns by category and by month from January 2012 to August 2013, the latest date for which information is available, is as follows.
|
2012 |
Alcohol |
Tobacco |
Oils |
Carbon |
VRT |
Other Excise |
|
JAN |
87.8 |
1 |
223.8 |
16.8 |
47.7 |
8.5 |
|
FEB |
35.6 |
52.8 |
166.7 |
41.3 |
62.9 |
4.1 |
|
MAR |
50.6 |
55.8 |
176.7 |
24.5 |
56.1 |
4 |
|
APR |
64.7 |
70.8 |
166.8 |
34.2 |
44.5 |
9 |
|
MAY |
61.4 |
108 |
180.9 |
26 |
33.6 |
4.8 |
|
JUN |
73.3 |
121.8 |
168.6 |
33.3 |
33.6 |
4 |
|
JUL |
68.4 |
80.2 |
167.7 |
27.9 |
25.8 |
10.7 |
|
AUG |
64.7 |
92.4 |
175.9 |
26.7 |
21.1 |
5.6 |
|
SEP |
68.7 |
68.3 |
165.3 |
26.4 |
17.2 |
5.8 |
|
OCT |
65.9 |
99.8 |
175.1 |
29.7 |
14.5 |
14.6 |
|
NOV |
85 |
97.5 |
171.9 |
33.6 |
11.2 |
5.4 |
|
DEC |
120 |
224 |
87.9 |
33.6 |
11.2 |
4 |
|
TOTAL |
846.1 |
1072.3 |
2027.3 |
354 |
379.4 |
80.5 |
|
2013 |
Alcohol |
Tobacco |
Oils |
Carbon |
VRT |
Other Excise |
|
JAN |
93.5 |
1.1 |
231.4 |
26 |
52.1 |
8.3 |
|
FEB |
40.6 |
104.8 |
158.9 |
42.7 |
64.6 |
3 |
|
MAR |
52.2 |
52.5 |
173.2 |
33.6 |
55.1 |
3.9 |
|
APR |
77.2 |
72 |
170.5 |
37.6 |
47.5 |
9.8 |
|
MAY |
65.8 |
93.6 |
175.2 |
29.4 |
40 |
3.7 |
|
JUN |
86.9 |
93.1 |
161 |
39.2 |
27 |
4.4 |
|
JUL |
77.1 |
70 |
173.9 |
25.8 |
35.5 |
10.5 |
|
AUG |
89.2 |
59.6 |
170.7 |
30.5 |
41 |
4.9 |
|
TOTAL |
582.5 |
546.7 |
1414.8 |
264.8 |
362.8 |
48.5 |
The Category Other Excise includes Licences, Betting and Travel Tax.
Please note that the receipts shown for 2013 are provisional and are subject to revision.
203. Deputy Stephen S. Donnelly asked the Minister for Finance if he intervened in the publication of Anglo Irish Bank's statement of affairs to ensure neither depositors nor borrowers were named as reported; if so, the reason for such an intervention; the legal ramifications of ministerial interventions to facilitate closure; and if he will make a statement on the matter. [40685/13]
View answerSection 224 of the Companies Act, 1963, as it applies in modified form to the liquidation of IBRC pursuant to Section 10 of the IBRC Act, requires the directors of IBRC, unless “the Minister thinks it fit to order otherwise and so orders”, to prepare a Statement of Affairs in respect of IBRC (a “Statement of Affairs”) within 21 days of the date of the liquidation or such later date as I may specify. I have issued two Statutory Instruments (‘SIs’) in relation to the timing and content of the Statement of Affairs to be prepared by the directors of IBRC. The first SI issued on 6th August 2013 (SI 304 of 2013) and a second SI issued on 18th September 2013 (SI 358 of 2013). Both of these SIs were necessary to facilitate requests made on behalf of the directors of IBRC in relation to the timing and content of the Statement of Affairs which they were required to produce. The effect of the two SIs was to extend the date of submission of the Statement of Affairs out to the 30th September 2013 and also to waive the requirement to include the personal details of debtors and depositors of the bank as at 7th February 2013 in the Statement of Affairs.
I am advised that it was not feasible for the directors of IBRC to prepare a Statement of Affairs for IBRC within 21 days of the appointment of the special liquidators due to the complexity of the balance sheet of IBRC on liquidation and due to the amount of work required to be completed by the directors in preparing the Statement of Affairs. The liquidation of IBRC is arguably the largest and most complex liquidation of a company in the history of the State and I am satisfied that it was simply not feasible for the directors to complete the Statement of Affairs within the period specified in the Companies Act and for that reason I agreed to extend the submission date of the Statement of Affairs to the 30th September 2013.
I also agreed that it would not be appropriate or necessary for the purposes of the orderly winding-up of IBRC for the directors to disclose personal details of the bank’s approximately 2,500 depositors in the Statement of Affairs, as there would be a risk that such details, if they were included in the Statement of Affairs, could quite possibly make their way into the public domain. I further agreed that it would be inappropriate and unnecessary for the purposes of the orderly winding-up of IBRC to require the disclosure of personal information of the approximately 17,000 mortgage holders as well as other debtors of the bank as part of the Statement of Affairs. There is a risk that such information, if disclosed in the Statement of Affairs, could become publicly available and in my view this would not be in the interests of the orderly winding up of IBRC or the maximisation of the value IBRC’s assets.
The directors of IBRC remain obliged to produce a Statement of Affairs which will provide a detailed list of the assets and liabilities of the bank at the time of liquidation and the directors remain required to clearly set out the amounts owing by IBRC to secured, preferential and unsecured creditors at the time of liquidation. Information on aggregate amounts owing by debtors of the bank, and owing by the bank to depositors, upon liquidation will still be included in the Statement of Affairs along with estimates of the recoverable value of the assets.
It is also important to note that the personal information concerning depositors and debtors which will not now be included in the Statement of Affairs is information which is already fully available to the Special Liquidators of the bank. I made the decision to issue both the SIs following discussions and consultations between my officials and the directors of IBRC and the Special Liquidators of IBRC, who had no objection to the terms of the SIs. The exclusion of personal information concerning depositors and debtors of the bank from the Statement of Affairs will not therefore have any adverse impact on the orderly winding-up of the bank’s affairs.
