Written Answers Nos. 71-78
71. Deputy Caoimhghín Ó Caoláin asked the Minister for Finance the amount of revenue generated for the Exchequer in each of the past five years through taxes and duties on alcohol and tobacco; and if he will provide a detailed breakdown of both income streams. [9502/15]
Amharc ar fhreagraI am advised by the Revenue Commissioners that a wide range of statistical information is available on the Commissioners' newly enhanced Statistics webpage: http://www.revenue.ie/en/about/statistics/index.html. In relation to the Deputy's question, detailed information on Excise receipts by commodity can be found at http://www.revenue.ie/en/about/statistics/net-receipts-by-commodity.pdf.
The most recent year for which detailed data are available is 2013. Data for 2014 will be published in due course.
I am further informed by the Revenue Commissioners that the total amount of revenue generated for the Exchequer in each of the past five years from Excise and VAT on Alcohol and Tobacco is as shown in the following table. This VAT information is not readily available at the level of individual commodities. Please note that VAT receipts are estimated, as VAT returns do not require the yield from a particular sector or sub-sector of trade to be identified and the actual VAT yield for each category cannot therefore be determined. The receipts for 2014 are provisional and may be subject to revision.
|
Alcohol |
Excise €m |
VAT (Estimated) €m |
Tobacco |
Excise €m |
VAT (Estimated) €m |
|
2010 |
826.4 |
1,010.5 |
2010 |
1,159.6 |
321.0 |
|
2011 |
829.5 |
1,014.0 |
2011 |
1,126.1 |
327.5 |
|
2012 |
846.1 |
1,088.8 |
2012 |
1,072.3 |
348.7 |
|
2013 |
1,002.0 |
980.8 |
2013 |
1,063.9 |
312.0 |
|
2014 (Prov) |
1,139.8 |
1,053.3 |
2014 (Prov) |
983.6 |
308.9 |
72. Deputy John Browne asked the Minister for Finance his views on what has turned out to be an inappropriate insurance compensation fund mechanism for claims against the former Setanta Insurance, in liquidation, which only allows 65% of awards and costs, in view of the fact that policyholders are statutorily bound to take out a motor policy by Government who therefore have a direct or indirect responsibility to adequately oversee the financial viability of insurance companies; his views on whether oversight was lacking in the case of Setanta Insurance, in liquidation; if it is acceptable to him that the balance of 35% of awards and cost should have to be the subject of separate legal action by claimants in view of the statutory nature of motor insurance; the actions that have been taken by Government to ensure that the situation pertaining to the collapse of Setanta Insurance, in liquidation, does not happen again; his plans to amend the Insurance Act 1993 to allow the President of the High Court to administer awards and costs up to the full amount of such awards and costs; and if he will make a statement on the matter. [9545/15]
Amharc ar fhreagraSetanta Insurance Company Limited is a Maltese authorised company subject to prudential supervision by the Malta Financial Services Authority (MFSA). Under EU passporting rules, any insurer which has been authorised in an other EU Member State may trade in Ireland on a freedom of services basis. While Setanta's financial position was not supervised by the Central Bank of Ireland, the firm was supervised by the Central Bank for conduct of business rules, i.e. consumer protection obligations. The Central Bank had been in discussions with the MFSA in relation to Setanta since November 2013 when it identified issues during a consumer protection themed inspection and it immediately referred the matter to the MFSA for further investigation.
The current legal and regulatory framework for the provision of insurance in the European Economic Area, and the supervision of that activity, is prescribed by European Union Law in the Life and Non-Life Insurance Directives. Following negotiations that were completed at European level in November 2013, a new regime known as Solvency II will commence on 1 January 2016. The Solvency II EU Directive sets out new stronger EU-wide requirements on capital adequacy and risk management for insurers with the key aim of increasing policyholder protection. The most essential features of the Solvency II Directive are the introduction of an economic/risk based approach to the measurement of assets and liabilities and a much greater focus on qualitative issues such as governance and the role of the supervisor. The new regime will also ensure greater cooperation between Member State national supervisors.
The Insurance Compensation Fund provides for payments to meet the liabilities of insolvent non-life insurers in certain cases where it is unlikely that claims can be met otherwise than from the ICF. Its fundamental purpose is to provide a certain minimum level of protection for policyholders when an insurance company goes into liquidation. Under the Insurance Act 1964, in a liquidation all ICF payments are subject to a limit of 65% of the amount due or €825,000, whichever is the lesser. In addition, claims by bodies corporate or unincorporated bodies are not covered by the ICF, except where there is a liability to or by an individual. A consideration in determining the limits to apply to ICF payments would include the fact that the ICF is funded by the insurance industry through a levy which is currently set at 2% on certain non-life insurance premia. This is ultimately reflected in higher insurance costs. It should also be noted that policyholders receive a distribution at the end of a liquidation process.
Current estimates indicate that the shortfall for most Setanta claimants will be relatively small once they have received the 65% compensation available from the ICF as well as their distribution from the Liquidation, a process which may take some time. I understand that there is a very small number of large claims where the maximum ICF payment of €825,000 will apply.
I appreciate that uncertainty regarding the timing and level of compensation payments is causing difficulty for the former customers of Setanta Insurance. Following the completion by the Accountant of the Courts of Justice of the ICF compensation process for Setanta policies, my Department will be conducting a review of the Insurance Compensation Fund mechanism in order to assess whether any changes are necessary to strengthen the framework.
73. Deputy Dan Neville asked the Minister for Finance if tax payments will be reviewed in respect of a person (details supplied) in County Limerick; and if he will make a statement on the matter. [9555/15]
Amharc ar fhreagraI am advised by the Revenue Commissioners that they will make direct contact with the person concerned to make sure that the information on their records for him is fully up to date and in that context will then be able to clarify for him his position with regard to tax payments.
74. Deputy Eoghan Murphy asked the Minister for Finance if he will provide details of the number of self-employed taxpayers schedule D case I or schedule D case II in each of the taxable income categories: up to €10,000, €10,001 to €15,000, €15,001 to €20,000, €20,001 to €25,000, €25,001 to €30,000, €30,001 to €35,000, €35,001 to €40,000, €40,001 to €45,000, €45,001 to €50,000, €50,001 to €55,000, €55,001 to €60,000, €60,001 to €65,000, €65,001 to €70,000 and more than €70,001. [9558/15]
Amharc ar fhreagraI am advised by the Revenue Commissioners that a wide range of statistical information is now available on their enhanced statistics webpage at www.revenue.ie/en/about/statistics/index.html.
Information can be found at www.cso.ie/px/pxeirestat/pssn/rv01/homepagefiles/rv01_statbank.asp in relation to the Deputy's question. This data may be accessed under the heading "Income Tax and Corporation Tax Distribution Statistics", where table RVA01 shows gross income by range and by category of taxpayer (including self-employed cases).
This recently released facility provides breakdowns on the annual distribution of Income Tax from 2004 to 2012 using the Central Statistics Office data toolset. Whereas previously, information of this nature was provided by way of static tables in documents, these data are now published in a format which may be dynamically accessed by a range of user defined queries. Data for 2013 and 2014 are not available as yet but these webpages will be updated in due course. If the Deputy requires assistance locating or interpreting the information on the Revenue webpages, the Commissioners are available to assist and may be contacted by email at statistics@revenue.ie.
75. Deputy Catherine Murphy asked the Minister for Finance further to Parliamentary Question No. 30 of 4 February 2015, the reason he stated in his reply that the sale of an entity by Irish Bank Resolution Corporation prior to its liquidation (details supplied), which resulted in a net loss to IBRC of approximately €105 million, did not meet the financial thresholds which trigger mandatory consultation with the State under Paragraph 4 of the operational protocol for the relationship framework which governed interactions between himself as Minister and IBRC, even though those thresholds clearly state that any adverse impact on the total capital of IBRC of €100 million or more should do so; if he will account for the reason no such consultation took place in this instance; if he received any representations regarding this sale from any of the parties involved; if so, if he will provide the dates and names of parties concerned; and if he will make a statement on the matter. [9582/15]
Amharc ar fhreagraThe Relationship Framework and Operational Protocol dated 29th March 2012 between the Minister for Finance and Irish Bank Resolution Corporation (IBRC), referred to in my answer to Parliamentary Question No. 30 of 4th February 2015, came into effect after the sale of the company referred to in the question.
A previous Relationship Framework dated 8th July 2009 was in effect at the time the Board of IBRC approved the sale of the company referred to in the question on 15th March 2012.
Under this previous Relationship Framework, the Board were required to engage with the Minister for Finance on certain key issues which included "Any material acquisitions, disposals, investments, realisations or other transactions, other than in the ordinary course of Anglo Irish Bank's banking business."
It should be noted that this previous Relationship Framework did not include any specific monetary thresholds which would trigger mandatory consultation with the Minister for Finance. It should also be noted, that at that time, the ordinary course of the Bank's business was to conduct an orderly run-down and ultimate liquidation of the Bank. As such, IBRC's efforts, as a secured lender, to maximise the recovery on its loans to the company referred to in the question was considered to be in the ordinary course of business. For that reason, and under the Relationship Framework in place at that time, IBRC were not required to consult with the Minister for Finance on this matter in advance of making a decision.
It should be noted that the Relationship Framework and Operational Protocol put in place on 29th March 2012 contained specific financial thresholds which would, from that date on, trigger mandatory consultation with the Minister for Finance for qualifying transactions.
76. Deputy Jack Wall asked the Minister for Finance the reason a person (details supplied) in County Kildare has had a payment declared on their P60 certificate. [9591/15]
Amharc ar fhreagraI have been advised by the Revenue Commissioners that the income included on the P60 relates to the pension payable to the individual concerned. Revenue has made contact with the person concerned and has clarified the matter with him to his satisfaction.
77. Deputy Mary Lou McDonald asked the Minister for Finance the number of senior civil servants who retired since 2011 in his Department who have been appointed to a State board under his aegis following their retirement; if he will provide in tabular form the names of these persons, the boards to which they were appointed and the appointment process followed in each case; and if he will make a statement on the matter. [9950/15]
Amharc ar fhreagraIn answer to the Deputy's question I have been advised that there have been no senior civil servants appointed to any State Boards under the aegis of my Department during the period in question.
78. Deputy Mary Lou McDonald asked the Minister for Public Expenditure and Reform the number of senior civil servants in his Department who retired since 2011 who have been appointed to a State board under his aegis following their retirement; if he will provide in tabular form the names of these persons, the boards to which they were appointed and the appointment process followed in each case. [9448/15]
Amharc ar fhreagraIn response to the Deputy's question I can confirm that no senior civil servants who have retired in my Department since 2011 have been appointed to a State Board under my aegis following their retirement.
