Written Answers Nos. 133-155
133. Deputy Shane Ross asked the Minister for Finance his plans to increase the tax-free amount which may be withdrawn from annuity-tied and restricted pension funds; and if he will make a statement on the matter. [17438/15]
Amharc ar fhreagraI am informed by the Revenue Commissioners that the retirement benefits that may be provided by Revenue approved retirement arrangements cannot exceed certain maximum levels as set out in Part 30 of the Taxes Consolidation Act 1997 and in the Revenue Pensions Manual.
In the case of retirement lump sums, the maximum amount that may be taken depends on both the nature of the pension arrangement and the benefit options chosen by the member of the arrangement at the point of retirement.
In general, where the pension arrangement is an occupational pension scheme, the amount that may be taken in cash form at retirement in lieu of pension benefits cannot exceed a maximum of 1.5 times final remuneration where the member has at least 20 years of service with the employer, or a lower proportion where the member has completed less than 20 years of service.
However, where the occupational pension scheme is a defined contribution (as opposed to a defined benefit) arrangement, the member has the option of taking a retirement lump sum based on final remuneration and service as outlined above, with the remainder of the fund being available to purchase an annuity or, alternatively, providing the scheme rules allow and subject to conditions, to take a retirement lump sum of up to 25% of the accumulated value of the fund with the balance transferred to an Approved Retirement Fund or taken as a taxable cash sum. This is generally known as the "ARF Option" and the conditions that must be met are that the scheme member is in receipt of guaranteed pension or annuity income for life of €12,700 per annum at the point of retirement or, in the absence of that, that he or she invests up to €63,500 of the balance of the pension fund (or the whole of the remainder of the fund after taking the retirement lump sum, if less than that amount) in an Approved Minimum Retirement Fund or an annuity.
In the case of personal pension arrangements such as Retirement Annuity Contracts (RACs) and Personal Retirement Savings Accounts (PRSAs), in general a lump sum of up to 25% of the value of the fund can be taken from age 60, with the remainder of the fund used to either purchase an annuity or avail of the ARF Options described above.
I am further advised by the Commissioners, that the maximum cumulative tax-free total of all retirement lump sums that an individual can take from all pension arrangements since 7 December 2005 is €200,000. Any lump sums taken in excess of this cumulative life-time limit are subject to taxation at a ring-fenced rate of 20% on the next €300,000 and at the individual's marginal income tax rate plus USC on any balance.
I have no plans to change the current retirement lump sum rules or the life-time tax-free limit.
134. Deputy Thomas P. Broughan asked the Minister for Finance if he will report on the Ireland Strategic Investment Fund; the current funds and/or projects that are being supported by the fund; the way such organisations apply to the fund for support; and if he will make a statement on the matter. [17452/15]
Amharc ar fhreagraThe Ireland Strategic Investment Fund (the "ISIF") was commenced on 22 December 2014 and the NTMA is required to report each year on the ISIF. Subject to preserving confidentiality in regard to commercially sensitive information, this report is required to include the following information: investment strategy, investment return, assets valuation, detailed listing of assets, investment management and custody arrangements, an assessment on a regional basis of the ISIF's investments on economic activity and employment and of the distribution of investments made by the ISIF.
The first formal report on the ISIF will be in respect of the calendar year 2015. It is expected that the ISIF investment strategy and an initial economic impact report will be published in Quarter 2 2015.
Current Investments
The NTMA provides a Performance and Portfolio update on a quarterly basis available on the NTMA website (http://www.ntma.ie/business-areas/ireland-strategic-investment-fund/).
An update on current ISIF and Third party commitments as at 31 March 2015 is set out as follows.
|
Investment Category |
31/03/2015 |
ISIF Committed Capital (€m) |
3rd Party Committed Capital in Ireland (€m) |
Total Project Size in Ireland (€m) |
Multiple of Total Project Size in Ireland to ISIF Commitment |
|
Water |
Irish Water |
300 |
- |
300 |
1.0x |
|
PPP |
PPP N111 |
18 |
165 |
165 |
9.1x |
|
Infrastructure |
Irish Infrastructure Fund |
250 |
67 |
317 |
1.3x |
|
Energy |
Covanta Poolbeg Project |
44 |
456 |
500 |
11.4x |
|
SME Equity |
SME Equity Fund - Carlyle Cardinal |
125 |
167 |
292 |
2.3x |
|
SME Credit |
SME Credit Fund - BlueBay |
200 |
250 |
450 |
2.3x |
|
Food and Agri |
Forestry |
30 |
187 |
217 |
7.2x |
|
Real Estate |
WLR Cardinal CRE Mezzanine Fund |
75 |
195 |
270 |
3.6x |
|
Venture Capital |
Yet To Be Announced2 |
40 |
35 |
40 |
1.0x |
|
Venture Capital |
Innovation Fund Ireland |
114 |
125 |
239 |
2.1x |
|
Venture Capital |
Local Venture Capital Funds |
116 |
460 |
576 |
5.0x |
|
Venture Capital |
West Summit "China Ireland" Funds3 |
73 |
36 |
73 |
1.0x |
|
Direct Private Equity |
Public Irish Assets (Malin) |
50 |
252 |
302 |
6.0x |
|
|
Committed to Date |
1,474 |
2,474 |
3,819 |
2.6x |
1 The ISIF provided stand-by facilities for Bank of Ireland in this project. The ISIF Commitment is calculated as 25% of total stand-by facility.
2Global Fund, total Irish project size is €40m
3 €36m of the ISIF commitments related to a global VC fund, total Irish project size is €73m
Process for Engaging with ISIF.
The ISIF is seeking investment opportunities across a broad range of industries. Opportunities will be originated from a wide variety of sources. In addition to proactive targeting of investment in priority areas by the ISIF team, the NTMA's door is open for companies and project sponsors to approach the ISIF at any stage. There is no "application form" and there are no specific criteria, other than Investment opportunities must fit within ISIF's mandate of achieving both a commercial risk adjusted return and economic impact in Ireland.
ISIF Team contact details are available on the NTMA website (http://www.ntma.ie/business-areas/ireland-strategic-investment-fund/ ).
135. Deputy Thomas P. Broughan asked the Minister for Finance if the current success of the Ireland Strategic Investment Fund will be used to reimburse citizens whose pensions were affected negatively such as the deferred Irish aviation superannuation service pensioners; and if he will make a statement on the matter. [17453/15]
Amharc ar fhreagraThe position is that the assets of the Ireland Strategic Investment Fund will be invested on a commercial basis in a manner designed to support economic activity and employment in the State. All returns on investments are to be paid into the fund. Once the returns are paid into the fund they become part of the assets of the fund and are accordingly available for investment by the Agency in accordance with the Fund s investment policy. Under the recently enacted legislation, payments may not be made to the Exchequer from the Fund before 2025 (an exception is provided for the proceeds of the directed investments).
136. Deputy Thomas P. Broughan asked the Minister for Finance the terms of reference of the Ireland Strategic Investment Fund; the person regulating the investments and returns; and if he will make a statement on the matter. [17454/15]
Amharc ar fhreagraAn Investment Committee, appointed by the NTMA, will decide on the investments of the Ireland Strategic Investment Fund, within the parameters of the investment strategy set by the new Board of the National Treasury Management Agency (NTMA). This investment strategy is subject to my consent and the consent of my colleague, the Minister for Public Expenditure and Reform. It is expected that the Investment Strategy will be approved shortly following the closure of the relevant consultations.
137. Deputy Thomas P. Broughan asked the Minister for Finance if his Department is examining the possibility of releasing funds for distressed mortgages; and if he will make a statement on the matter. [17455/15]
Amharc ar fhreagraAs the Deputy is aware, the Government has put in place a broad strategy to address the problem of mortgage arrears and family home repossessions.
This has included an extensive suite of interventions designed to address the problem including specific Central Bank targets for the banks through the Mortgage Arrears Resolution Targets (MART), the Code of Conduct on Mortgage Arrears, extensive recasting of the personal insolvency legislation, the provision of advice through Department of Social Protection-led initiatives and the mortgage to rent scheme which is designed to assist borrowers in an unsustainable mortgage position to remain in their homes through the involvement of social housing agencies.
The effective management of the mortgage arrears issue is, however, an area that remains under continuous review. More and concerted action can be undertaken by the banks to assist customers in arrears and, as the Taoiseach has previously announced, the Government is considering a range of options to support the existing framework and to improve the uptake of personal insolvency solutions.
138. Deputy Thomas P. Broughan asked the Minister for Finance the regulation that is taking place of mortgage providers transferring mortgages in arrears and distress; if terms and conditions agreed with mortgage providers, such as the mortgage-to-rent scheme, must be transferred to a new mortgage provider; and if he will make a statement on the matter. [17458/15]
Amharc ar fhreagraThe Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 will require entities dealing with the consumer to be authorised by the Central Bank and subject to its Codes of Conduct. Dealing with the consumer is credit servicing and the definition of credit servicing is broad. Owners of loan books who deal directly with consumers, that is, who are servicing their own loan books, will be regulated. Otherwise they can have the loan book serviced by a regulated credit servicing firm.
The Bill was published in January and second stage of the Bill was taken in the Dáil on 4 February. Since then, my officials have been in contact with the Central Bank and with the Office of the Attorney General to further progress the legislation. The Bill will continue its progress through the legislative process and I look forward to further discussion of the Bill at Committee Stage.
The Mortgage to Rent Scheme comes under the aegis of my colleague the Minister for Environment, Communications and Local Government. I understand that there is no criterion under the Mortgage to Rent Scheme that would prevent a household remaining in the scheme even if mortgage provider changes. However it is a matter for the mortgage provider to agree that a property is suitable for inclusion in the scheme in the first place. There are then other eligibility criteria, in respect of household income, property size, household need and value of the property, which are applied independent of the mortgage provider. The purchase of properties under the Mortgage to Rent Scheme are financed by an Approved Housing Body (AHB) using a combination of State funding and the Ahab's own private finance arrangements. This financing remains in place independently of the household's mortgage provider.
139. Deputy Richard Boyd Barrett asked the Minister for Finance if there have been communications between Irish Water and the Revenue Commissioners over the past 14 months; if so, if he will provide information as to the nature of such communications; in particular, if the names and addresses of private individuals have been passed to Irish Water by the Revenue Commissioners; and if he will make a statement on the matter. [17460/15]
Amharc ar fhreagraI am advised by the Revenue Commissioners that section 26 of the Water Services Act 2013 provides that Irish Water may request information from relevant persons, including the Revenue Commissioners, in order to allow it perform its functions.
Section 851A Taxes Consolidation Act 1997 enshrines the concept of taxpayer confidentiality in the law. However, subsection 8 permits a Revenue officer to disclose taxpayer information, where this is expressly authorised by another enactment.
I am also advised that an electronic exchange of name and address data with Irish Water took place on 7 August 2014, with some additional records provided on 23 January and 17 February this year.
I am further advised by the Revenue Commissioners that these data exchanges are covered by a formal Data Exchange Agreement signed between the Revenue Commissioners and Irish Water and they are in conformance with Data Protection legislation.
140. Deputy Michael McGrath asked the Minister for Finance the position regarding the review of accounts by Permanent TSB whose owners may be affected by the recent Supreme Court case pertaining to customers on a fixed-rate mortgage product which included a right to move to a tracker rate at the end of the agreed fixed-rate term; if he will specify the number of customer accounts that are potentially affected; and if he will make a statement on the matter. [17505/15]
Amharc ar fhreagraI have been informed by Permanent TSB that this relates to the situation of certain mortgage customers of the bank and their right to avail of a mortgage tracker product from the bank in circumstances where they broke early from a fixed rate tracker period.
Earlier this year the bank confirmed that it would be withdrawing appeals it had submitted to the Supreme Court in respect of High Court decisions involving specific customers who pursued and had their complaints on this matter upheld by the Financial Services Ombudsman.
Permanent TSB is now implementing the decisions of the Financial Services Ombudsman and is in correspondence with the affected parties. The bank has also confirmed that it is under an Enforcement Investigation by the Central Bank of Ireland in respect of this matter.
I understand that the bank is now undertaking a comprehensive programme to identify all customers in similar positions (i.e. mortgage customers who had a fixed rate product which included a right to move to a tracker rate at the end of the agreed fixed rate term but who lost that right because they broke from the fixed rate early) with a view to ensuring that impacted customers are informed in writing and offered redress including the offer to move to a tracker mortgage, where appropriate.
As this is subject to an ongoing Enforcement Investigation it is not appropriate to comment further at this time.
141. Deputy Paul Murphy asked the Minister for Finance If it was normal procedure for no minutes to be taken of meetings between the Secretary General of his Department and the board of the Irish Bank Resolution Corporation; if minutes were taken for the meeting between persons on 1 and 2 August 2012; and if he will make a statement on the matter. [17583/15]
Amharc ar fhreagraAs per the then Secretary General of the Department of Finance's diary for August 2012, he was scheduled to meet the former CEO of IBRC on 1 August 2012 and 2 August 2012. From the records of the meetings, it appears that it was only the two individuals mentioned that were present and there was no other official from my Department present to take minutes of the meetings.
While no formal minutes of the meetings were recorded, the former Secretary General of my department spoke with another former official of my department about the key outcomes of the meetings and these were formally recorded by the official via an email. One of the key outcomes recorded was discussions around the Market Solutions role in IBRC which ultimately led to the appointment of a senior Department of Finance official into this role to explore opportunities for deleveraging with a view to maximising the recovery for the taxpayer. This had the additional benefit of providing greater oversight while supporting the management team.
The briefing note ahead of the meetings and the email containing the key outcomes of the meetings have been released under FOI and are available on the Department of Finance website at http://www.finance.gov.ie/news-centre/press-releases/ibrc-foi-documents.
142. Deputy Paul Murphy asked the Minister for Finance if he will report on the upcoming Economic and Financial Affairs Council meeting with particular reference to the Government's position on the indepth review of the macroeconomic imbalances procedure and the implementation of structural reforms; and if he will make a statement on the matter. [17584/15]
Amharc ar fhreagra143. Deputy Paul Murphy asked the Minister for Finance if he will report on the upcoming Economic and Financial Affairs Council meeting with particular reference to the Government’s position on the aging report 2015; and if he will make a statement on the matter. [17585/15]
Amharc ar fhreagraI propose to take Questions Nos. 142 and 143 together.
In terms of my on-going engagement with the Oireachtas on EU related matters, I submit a report for every formal Ecofin Council to the Joint Oireachtas Committee on Finance and Public Expenditure on the respective agenda items of each Council. As is customary, and in respect to the Joint Committee, I will provide the Committee, in advance of the 12 May Council, with the relevant report as is normal practice, containing material on the three agenda items listed in the Deputy's questions.
144. Deputy Paul Murphy asked the Minister for Finance in view of the recently announced loss of 1,500 jobs in AIB's Financial Solutions Group and the answers provided to the Joint Oireachtas Committee on Finance, Public Expenditure and Reform where the bank stated that outsourcing is key to reducing its cost base, his views regarding the erosion of job security and working conditions in the banking sector; and if he will make a statement on the matter. [17586/15]
Amharc ar fhreagraI have been informed that AIB has not announced 1,500 job losses in its Financial Solutions Group (FSG) nor has it announced any outsourcing of work being done in FSG.
AIB has recently opened up applications for participation in a voluntary severance scheme in FSG for those staff who have expressed an interest. However, FSG will continue to ensure it has sufficient skilled resources to help restructure and resolve the debt of customers in financial difficulty, which is a key priority for the bank.
AIB manages outsourcing within its commercial business requirements and enters into arrangements with service providers to deliver a range of services not conducted by the bank. Outsourcing is part of AIB's overall strategy to reduce costs and focus on core banking functions. Outsourcing to date has been conducted in full consultation with the relevant unions and has not involved compulsory redundancies.
145. Deputy Paul Murphy asked the Minister for Finance if the decision in budget 2014 to grant banks the ability to fully offset losses against all profits each year against corporation tax has been approved by the European Commission; and if he will make a statement on the matter. [17587/15]
Amharc ar fhreagraI can confirm for the Deputy that the decision to remove Section 396c of the NAMA Act 2009 did not require the approval of the European Commission. Removal of the provision served to place the Covered Banks back in the same position as other Irish corporates.
146. Deputy Paul Murphy asked the Minister for Finance in view of the €1.67 million remuneration package to the chief executive officer of Ulster Bank, if he will introduce caps on the remuneration of chief executive officers of all banks or other such measures; and if he will make a statement on the matter. [17588/15]
Amharc ar fhreagraAs the Deputy will be aware Ulster Bank was never part of the State's bank guarantee schemes (CIFS and ELG) and never received any recapitalisation funds from the Irish taxpayer. As such I have no control over the remuneration package awarded to the CEO of Ulster Bank or indeed any other foreign owned bank operating in the State.
Remuneration of the remaining three Irish domestic banks - Bank of Ireland, PTSB and AIB - is restricted by Government policy with the maximum payment permitted amounting to €500,000 excluding a standard pension contribution.
147. Deputy Paul Murphy asked the Minister for Finance if he has estimated the number of jobs lost as a result of cuts to public spending from 2009 onwards; and if he will make a statement on the matter. [17589/15]
Amharc ar fhreagraTotal gross voted expenditure has been reduced from €63.1 billion in 2009 to €54 billion in 2014, with the contraction in current spending accounting for nearly 60 per cent of this fall. As a result of the Moratorium on Recruitment and Promotion introduced in 2009 as an emergency policy response to the crisis in the public finances, public service numbers have been reduced by over 30,000 amounting to a fall of 10 per cent.
Whilst the second-round effects of lower volumes of public spending on economy-wide employment are difficult to quantify in aggregate, it is clear that the expenditure-based component of the consolidation strategy pursued over the period 2009-2014 has supported the recovery in employment growth evidenced to date. Indeed, if public spending had not been reduced, the impact on the labour market would have been even larger, with enormous consequences for the living standards of the Irish people.
Putting the public finances back on a sustainable footing has laid the foundation for economic recovery and is yielding positive dividends in the labour market. Some 95,000 jobs have now been created since the low-point of the crisis, and the targets set out in the Government's Action Plan for Jobs will be achieved earlier than originally envisaged.
148. Deputy Mick Wallace asked the Minister for Finance his plans to introduce incentives for banks to lower their interest rates for variable mortgages to bring them more in line with European Central Bank interest rates; and if he will make a statement on the matter. [17591/15]
Amharc ar fhreagra151. Deputy Michael McGrath asked the Minister for Finance if consideration is being given to increasing the bank levy on financial institutions that do not reduce standard variable mortgage rates. [17596/15]
Amharc ar fhreagraI propose to take Questions Nos. 148 and 151 together.
At the outset I would like to confirm that the lending institutions in Ireland - including those in which the State has a significant shareholding - are independent commercial entities. I, as Minister for Finance, have no statutory role in relation to regulated financial institutions setting interest rates. The mortgage interest rates that financial institutions operating in Ireland charge to customers are determined as a result of a commercial decision by the institutions concerned.
Equally, the Central Bank has no statutory role in the setting of interest rates by regulated entities, apart from the interest rate cap imposed on the credit union sector in accordance with the provisions of the Credit Union Act, 1997 and the requirement to be notified of penalty or surcharge interest imposed in respect of arrears.
Nonetheless, the issue of regulation of interest rates remains a policy area under active review. The current position is that the Central Bank does not have new proposals for the additional regulation of interest rates. However, a former Deputy Governor indicated that, within its existing powers and through the use of persuasion, the Central Bank would continue to engage with specific lenders which appear to have standard variable rates set disproportionate to their cost of funds and this is a course of action I expect the Central Bank to continually appraise.
I meet regularly with the Governor of the Central Bank. The latest of these meetings took place on 2 April where we discussed the issue of mortgage interest rates. We noted that the SVRs charged in Ireland are higher than other euro area countries and have not fallen in line with ECB wholesale rates.
As a result of this meeting the Governor of the Central Bank is currently reviewing the cost of mortgages to banks. The Governor should be in a position to present this analysis to me in the next 10 days or so. I will then meet the six principal mortgage lenders in order to discuss this issue.
I think that we need to bear in mind that the Financial Institutions Levy announced as part of Budget 2014 is a revenue raising measure which allows for a contribution from the banking sector to Ireland's economic recovery. The levy will be in place for three years with an anticipated annual yield of €150 million. The imposition of the levy is a proportionate measure on a domestic banking sector. The entire banking system has been underpinned by the strong Government support provided both here and abroad and it is appropriate that the banking sector should make a contribution to the State's economic recovery.
It should also be noted that there have been moves on interest rates. As the Deputy will be aware, on 1 May AIB Group announced a number of reductions to its mortgage interest rates for owner occupier and buy-to-let mortgages. These included a cut of 0.25% for AIB Standard Variable Rate (SVR) customers and 0.38% for EBS and Haven SVR customers. The Bank also announced reductions in Loan to Value (LTV) and Fixed Rate mortgages across AIB, EBS and Haven. These rate reductions will apply to both new and existing customers.
This is the second time in the past six months that AIB Group has reduced its mortgage rates for new and existing customers. The latest move significantly benefits approx. 158,000 mortgage account holders. Individual SVR Customers will be advised of the changes in writing by AIB group.
149. Deputy Mick Wallace asked the Minister for Finance in view of the fact that the €5 billion originally ring-fenced in the €315 billion Juncker investment plan for energy efficiency projects is not going ahead, his plans to secure or ring-fence similar funding for the same purpose; and if he will make a statement on the matter. [17592/15]
Amharc ar fhreagraIreland's national approach on Energy efficiency policy is a matter for my colleague, the Minister for Communications, Energy and Natural Resources.
The EFSI regulation is still under negotiation with Trilogues ongoing with the European Parliament at present. While development of the energy sector is mentioned as one of the areas to be supported by EFSI, ring fencing of funds for energy efficiency or any other sector was not part of the original Commission proposal nor has it been part of the position agreed by Council before the start of negotiations with the European Parliament. EFSI is proposed to operate on the basis of supporting projects through investments rather than grants and the provision of guarantees.
150. Deputy Mick Wallace asked the Minister for Finance the number of households in mortgage arrears in County Wexford; the number of these in arrears for over two years; over three months; since the beginning of 2015; and if he will make a statement on the matter. [17593/15]
Amharc ar fhreagraI am informed by the Central Bank of Ireland (CBI) that the CBI's Residential Mortgage Arrears and Repossession Statistics are published quarterly. The last publication was for end-Q4 2014 and is available here: http://www.centralbank.ie/polstats/stats/mortgagearrears/Pages/releases.aspx.
The Residential Mortgage Arrears and Repossessions Statistics are collected from a large number of reporting institutions and are designed to capture all mortgage loans secured on properties located in the Republic of Ireland. The data are provided on a national level only, no regional breakdown is available. It is not, therefore, possible to determine the requested data on mortgage arrears levels in County Wexford.
The Deputy will be aware that the effective management of the mortgage arrears issue is, however, an area that remains under continuous review. More and concerted action can be undertaken by the banks to assist customers in arrears and, as the Taoiseach has previously announced, the Government is considering a range of options to support the existing framework and to improve the uptake of personal insolvency solutions.
152. Deputy Pat Rabbitte asked the Minister for Finance the applicable offences under the Revenue Commissioners' Acts in respect of employers and employees in connection with bogus self-employment claims; the arrangements in place for the prevention, detection and prosecution of such offences; the number of prosecutions and convictions in each of the past 15 years; the new initiatives planned or under way in this regard; and if he will make a statement on the matter. [17598/15]
Amharc ar fhreagraThe phrase 'bogus self-employment' is used to describe a scenario where an individual who is an employee is described erroneously as being self-employed. I am advised by the Revenue Commissioners that the question as to whether an individual is engaged under either a contract of service [i.e. an employee] or a contract for service [i.e. self-employed] is a question of fact and of general law. Regardless of how the parties may describe themselves, all the possible factors (including written, oral and implied details) that bear on the relationship between the parties must be examined in order to determine whether the relationship is one of employment or self-employment.
The Code of Practice for Determining Employment or Self-Employment Status of Individuals was compiled in 2007 with the assistance of the Irish Congress of Trade Unions, the Irish Business Employers Confederation, the Construction Industry Federation, the Small Firms Association, the Department of Jobs, Enterprise and Innovation, the Department of Social Protection, the Department of Finance, the National Employment Rights Authority and the Revenue Commissioners to provide some guidance as to whether an individual is engaged under either a contract of service or a contract for service
There is no offence in tax law relating specifically to an incorrect determination by an employer of the status employed or self-employed of an individual. As a consequence, the information sought by the Deputy relating to prosecutions and convictions does not arise.
I am advised by the Revenue Commissioners that in appropriate cases, when carrying out compliance interventions, they are mindful of the possibility of 'bogus self-employment' in any engagement between two parties. Where this is discovered, Revenue will seek to recover unpaid tax (including PAYE tax from employers who failed to operate the PAYE system on payments made) and interest on late payment and will pursue penalties, where warranted.
The yield (including PAYE/PRSI/USC, interest and penalties) for the period 2010 to date from interventions on all aspects of non-compliance by employers with the requirements of the PAYE system is set out in the Table. These figures do not include amounts sent to enforcement which are not separately identifiable.
|
Year |
Amount € |
|
2010 |
42m |
|
2011 |
84m |
|
2012 |
36m |
|
2013 |
48m |
|
2014 |
70m |
|
2015 (to May 5th) |
24m |
153. Deputy Michael McGrath asked the Minister for Finance if he will provide a breakdown by county of the 134 filling stations closed down by the Revenue Commissioners in the past four years as part of the investigation into fuel laundering; if these closures are permanent or temporary; and if he will make a statement on the matter. [17601/15]
Amharc ar fhreagraI am advised by the Revenue Commissioners that filling stations are obliged to hold an auto fuel trader's licence and/or a marked fuel trader's licence in order to trade in fuel. Traders must apply for a new licence annually and Revenue may refuse to issue a licence or may revoke an existing licence. Revenue began taking action from mid- 2011 against service stations that were unlicensed and also against stations that had failed to adhere to the conditions of their licences. Unlicensed service stations closed down as a result of the seizure of fuel by Revenue or the threat of such seizure. In addition, service stations that had their licences revoked for breaches of licensing conditions were similarly closed as a result of the seizure of fuel or the threat of seizure.
The breakdown, by county, of the number of filling stations closed down in the years 2012 to 2014 is as set out in the following table.
|
Revenue Region |
County |
2012 |
2013 |
2014 |
|
Dublin |
Dublin |
8 |
3 |
1 |
|
Border Midlands West |
Cavan |
2 |
0 |
1 |
|
- |
Donegal |
5 |
2 |
0 |
|
- |
Galway |
3 |
0 |
1 |
|
- |
Longford |
2 |
0 |
0 |
|
- |
Louth |
13 |
3 |
3 |
|
- |
Mayo |
2 |
1 |
0 |
|
- |
Monaghan |
0 |
2 |
0 |
|
- |
Roscommon |
3 |
0 |
0 |
|
- |
Sligo |
1 |
1 |
0 |
|
- |
Westmeath |
2 |
0 |
0 |
|
East South East |
Kildare |
3 |
4 |
1 |
|
- |
Kilkenny |
2 |
1 |
1 |
|
- |
Laois |
1 |
0 |
2 |
|
- |
Meath |
2 |
9 |
0 |
|
- |
Tipperary |
1 |
0 |
1 |
|
- |
Waterford |
0 |
3 |
1 |
|
- |
Wexford |
0 |
0 |
3 |
|
South West |
Cork |
4 |
1 |
0 |
|
- |
Limerick |
3 |
0 |
0 |
|
TOTAL |
- |
57 |
30 |
15 |
The county breakdown of the 32 closures in 2011 is not readily available.
Filling stations which were closed may have opened again subsequently, in circumstances such as the premises being brought into conformity with licensing requirements, or where the premises changed hands and a new owner applied for a licence or licences.
The Revenue Commissioners maintain registers of auto fuel and marked fuel traders' licences on the Revenue website, which are updated monthly. A licence is removed from the register where it is no longer in effect, where it has been revoked, or where it has expired and has not been replaced by a new licence. The lists of current valid licences can be accessed through the following links:
http://www.revenue.ie/en/tax/excise/mineral-oil-traders/licensed-auto-fuel-traders.xls
http://www.revenue.ie/en/tax/excise/mineral-oil-traders/licensed-marked-fuel-traders.xls
I made provision for the publication of details of revoked licences in the Finance Act 2013 and have been informed by the Revenue Commissioners that they will shortly publish a list of persons whose licences have been revoked since enactment of the provision and details of the premises concerned.
154. Deputy Joe Costello asked the Minister for Finance the State boards, bodies or committees on which vacancies currently exist or on which vacancies are anticipated to arise up to and including 1 January 2016; the number of vacancies in each case; when the vacancy arose or will arise; if the vacancy relates to a chair or a member; the details of the appointment process in each case; and if he will make a statement on the matter. [17602/15]
Amharc ar fhreagraIn answer to the Deputy's question the information sought on vacancies on State Boards, bodies or committees under the aegis of the Department of Finance is contained in the table. I, and my Department are cognisant of the need to adhere to the Department of Public Expenditure and Reform's Guidelines on Appointments to State Boards.
|
Organisation |
Number of Vacancies up to 1st January 2016 |
Date of Vacancies |
Vacant Position |
Details of Appointment Process |
|
Central Bank of Ireland |
1 Section 18CA(1)(b) of the Central Bank Act 1942, as amended, provides that the Central Bank Commission comprises of at least 6, but no more than 8, members appointed by the Minister. The Commission currently comprises of 6 members appointed by the Minister. The Minister has the discretion to appoint 2 additional members |
The Governor has announced his intention to retire. Details of date of retirement to be confirmed. |
Governor. |
A process of appointment will be commenced shortly. |
|
Financial Services Ombudsman Council |
The vacancies may be impacted by the amalgamation of the Financial Services Ombudsman and Pension Ombudsman therefore, the number is not currently available. Currently there are 7 board members
|
Term of all board members expires on the 28th of October 2015 |
To be determined. |
The vacancies may be impacted by the amalgamation of the Financial Services Ombudsman and Pension Ombudsman.
|
|
Investor Compensation Company Limited |
8 |
28th April 2015 (Chair) 4th September 2015 (Deputy Chair/Chair Funding Committee)
31st July 2015 (6 Board Members) |
Chair
Deputy Chair/Chair Funding Committee
Board Members |
As per Section 18 (6) of the Investor Compensation Act 1998, The Governor of the Central Bank of Ireland shall nominate and appoint the chairperson of the Board.
As per Section 18 (4) of the Investor Compensation Act 1998, the Minister may prescribe natural persons, who represent the interests of the clients of investment firms, to the board. The Department intends to fill this vacancy via a public expressions of interest process. |
|
Irish Financial Services Appeals Tribunal |
1 |
21st March 2015 |
Chairperson |
In line with legislation. |
|
Irish Fiscal Advisory Council |
2 |
31st December 2015 |
Council Members |
If the Minister decides not to re-appoint these members, an open selection process will be undertaken in accordance with the "Guidelines for appointments to State boards".
|
|
NAMA |
2 |
December 2013 January 2014 |
Board Members |
Will be filled in accordance with "Guidelines for appointments to State boards". |
|
The Appeals Commissioners |
2 |
June 2015 October 2015 |
Appeals Commissioner |
An open competition to recruit new Appeals Commissioners is expected to commence shortly.
|
155. Deputy Clare Daly asked the Minister for Finance if the Revenue Commissioners' reviews of organisations which receive tax exempt status under the heading, the advancement of religion, take into account that the very right-wing political views advanced by many of these organisations run totally counter to the views of the majority of the members of these Christian religions; and if the Revenue Commissioners do not currently take these issues into consideration, if he will introduce amending legislation to ensure that the Revenue Commissioners will do so in the future in order that these organisations do not abuse their tax exempt status by solely representing and advancing their own right wing beliefs. [17647/15]
Amharc ar fhreagraWhen determining if a Body or Trust is entitled to a charitable tax exemption the Revenue Commissioners rely on the definitions of charitable purposes as provided for by the Charities Act 2009. One of the definitions in the Act in this regard is the advancement of religion.
When reviewing the compliance of relevant Bodies/Trusts with the terms of an exemption all relevant matters are taken into consideration. This particularly includes scrutiny of the application of funds and assets to ensure that all resources are being applied for the advancement of the charitable purposes contained in the governing instrument.
In this regard the Revenue Commissioners has assured me that the current tax legislation facilitates the examination of all appropriate matters regarding compliance by the Body/Trust with the terms of the governing instrument and in the circumstances I have no plans to amend the provisions at this time.
Finally, I confirmed in previous replies to Questions on this issue that the Charities Act also provided for the creation of a Charities Regulator. The role of the Regulator is to oversee compliance by Charities with their legal obligations and to ensure proper governance in respect of registration, the preparation of statements of account and the submission of annual activity reports. Some of the issues raised by the Deputy may be more relevant to that office rather than to the Revenue Commissioners.
