asked the Minister for Finance (a) the total net receipts in respect of income tax, excluding surtax, in each of the years 1958-59 to 1966-67 inclusive; (b) the total net amount received under each of the five schedules, viz: schedules A, B, C, D, and E in each of the years 1958-59 to 1966-67 inclusive; (c) the total net amount of schedule E tax collected under the PAYE system in each of the years 1960-61 to 1966-67 inclusive; (d) the total net receipts in respect of surtax in each of the years 1958-59 to 1966-67 inclusive; (e) the total net receipts in respect of corporation profits. tax in each of the years 1958-59 to 1966-67 inclusive; (f) the total net receipts in respect of turnover tax in each of the years 1963-64 to 1966-67 inclusive; (g) the total net receipts in respect of wholesale tax in the year 1966-67; and (h) the estimated net receipts in the current year i.e. 1967-68, on the basis of the information now available, in respect of (i) income tax —schedule D; (ii) income tax— schedule E; (iii) surtax; (iv) corporation profits tax; (v) turnover tax; and (vi) wholesale tax.
Written Answers. - Tax Receipts.
Following is the information requested:
(a) Net receipt of Income Tax, 1958-59 — 1966-67.
|
Year |
Net receipt |
||
|
£ |
|||
|
1958-59 |
22,748,708 |
||
|
1959-60 |
22,336,845 |
||
|
1960-61 |
25,529,628 |
||
|
1961-62 |
29,413,345 |
||
|
1962-63 |
33,942,983 |
||
|
1963-64 |
37,242,228 |
||
|
1964-65 |
45,234,396 |
||
|
1965-66 |
52,289,754 |
||
|
1966-67 |
60,751,857 |
(b) Net produce (¹) of Income Tax under each Schedule, 1958-59—1966-67.
|
Year |
Net produce of Income Tax under each Schedule |
Total |
||||
|
A |
B |
C |
D |
E |
||
|
£ |
£ |
£ |
£ |
£ |
£ |
|
|
1958-59 |
1,595,500 |
80,500 |
587,900 |
12,468,400 |
7,539,200 |
22,271,500 |
|
1959-60 |
1,490,400 |
88,300 |
555,900 |
13,047,800 |
8,005,100 |
23,187,500 |
|
1960-61 |
1,470,900 |
66,500 |
581,200 |
15,412,400 |
6,106,000(²) |
23,637,000 |
|
1961-62 |
1,295,000 |
66,100 |
493,300 |
15,511,500 |
10,961,300 |
28,327,200 |
|
1962-63 |
1,344,500 |
65,900 |
493,700 |
18,183,000 |
13,820,600 |
33,907,700 |
|
1963-64 |
21,042,228 |
16,200,000 |
37,242,228 |
|||
|
1964-65 |
22,734,396 |
22,500,000 |
45,234,396 |
|||
|
1965-66 |
25,389,754 |
26,900,000 |
52,289,754 |
|||
|
1966-67 |
26,951,857 |
33,400,000 |
60,751,857 |
(c) Net receipt of tax collected under P.A.Y.E., 1960-61 — 1966-67.
|
Year |
Net receipt |
||
|
£ |
|||
|
1960-61 |
3,387,472 |
||
|
1961-62 |
9,063,725 |
||
|
1962-63 |
11,436,591 |
||
|
1963-64 |
13,226,214 |
||
|
1964-65 |
18,923,801 |
||
|
1965-66 |
21,549,744 |
||
|
1966-67 |
26,967,287 |
(d) Net receipt of Surtax, 1958-59 — 1966-67.
|
Year |
Net receipt |
||
|
£ |
|||
|
1958-59 |
2,151,436 |
||
|
1959-60 |
1,932,156 |
||
|
1960-61 |
1,736,060 |
||
|
1961-62 |
1,879,564 |
||
|
1962-63 |
2,225,521 |
||
|
1963-64 |
2,176,259 |
||
|
1964-65 |
2,600,923 |
||
|
1965-66 |
2,611,590 |
||
|
1966-67 |
3,236,503 |
(e) Net receipt of Corporation Profits Tax, 1958-59 — 1966-67.
|
Year |
Net receipt |
||
|
£ |
|||
|
1958-59 |
2,774,624 |
||
|
1959-60 |
3,043,509 |
||
|
1960-61 |
3,274,210 |
||
|
1961-62 |
3,667,444 |
||
|
1962-63 |
4,515,618 |
||
|
1963-64 |
7,533,426 |
||
|
1964-65 |
8,438,879 |
||
|
1965-66 |
9,320,304 |
||
|
1966-67 |
9,431,033 |
(f) Net receipt of Turnover Tax, 1963-64 — 1966-67.
|
Year |
Net receipt |
||
|
£ |
|||
|
1963-64 |
3,697,863 |
||
|
1964-65 |
13,419,005 |
||
|
1965-66 |
14,181,736 |
||
|
1966-67 |
14,916,768 |
(g) Net receipt of Wholesale Tax, 1966-67: £2,328,902.
|
(h) Budget estimate of net receipt of certain taxes, 1967-68. |
|
|
Budget estimate |
|
|
(i) Income Tax—Schedule D (ii) Income Tax—Schedule E |
The estimated net receipt of Income Tax is £64,450,000 of which the Schedule E content is estimated at £36,500,000. |
|
(ii) Income Tax—Schedule E |
|
|
(iii) Sur-Tax |
£2,850,000 |
|
(iv) Corporation Profits Tax |
£13,750,000 |
|
(v) Turnover Tax |
£15,750,000 |
|
(vi) Wholesale Tax |
£6,000,000 |
NOTES.
(1) A breakdown of the net receipt of Income Tax under each Schedule is not available. For the years up to and including 1962-63 figures showing the net produce of Income Tax under each Schedule have been given. Net produce of tax is the estimated ultimate yield from the tax assessed in the year, whether actually collected in that year or later, after deducting all discharges and remissions and setting off all repayments. Net produce figures are not available for 1963-64 and subsequent years in consequence of the introduction of the system of "one taxpayer, one charge" in 1963-64 following on recommendations in the Second Report of the Commission on Income Taxation. However, it is possible to make a reasonably reliable estimate of the net receipt of Schedule E tax since it consists almost wholly of tax collected under P.A.Y.E. and under Rule 5 of the Rules applicable to Schedule E. The approximate net receipt of Schedule E Income Tax has been given for the years 1963-64 to 1966-67. The balance of the net receipt for those years is regarded as referable to Schedules, A, B, C, and D.
(2) Excludes an amount estimated at £4,150,000 in respect of the abatement provided for by Section 14 of the Finance (No. 2) Act, 1959, in respect of emoluments coming within P.A.Y.E.