asked the Minister for Finance the percentage tax collected in the year to (1) 31st March 1961 (2) 30th September 1961 and (3) 31st March 1962 for (a) direct and (b) indirect taxes to base total tax revenues.
Ceisteanna—Questions. Oral Answers. - Collection of Taxes.
13.
I presume that the information required by the Deputy relates to taxes and duties accounted for by the Revenue Commissioners, and that the direct taxes which he has in mind are Income Tax, Sur-tax, Corporation Profits Tax, Death Duties and Stamp Duties, and the indirect taxes the Customs and Excise Duties.
The figures for the year to 31st March, 1961, are 34.02 per cent. for direct taxes and 65.98 per cent. for indirect taxes. The corresponding figures for the year to 30th September, 1961, are 34.36 per cent. and 65.64 per cent. respectively. The figures for the year to 31st March, 1962, will not be available until after that date.
14.
asked the Minister for Finance the percentage of net profit taken by direct taxes from a company with a net worth of £1.5 million, a turnover of the same amount and a net profit of £150,000 after indirect but before direct taxes and which received neither mining nor exports relief and distributed in dividends 40 per cent. of its net profit after taxation to its shareholders.
A company with profits of £150,000 would be liable to pay £62,250 in Income Tax and Corporation Profits Tax. This represents 41.5 per cent. of its profits. The company would, of course, on paying dividends to its shareholders, be entitled to recoup Income Tax appropriate thereto.