Vol. 267 No. 12
asked the Minister for Finance if he will give particulars of the revenue lost under the headings of (a) income tax recovered by covenantees and (b) sur-tax saved by covenantors in respect of covenants to individuals under subsection (1), (iii) and (iv), section 439 of the Income Tax Act, 1967, in each of the six income tax years ended 1971-72.
264.
asked the Minister for Finance if he will give particulars of the revenue lost under the headings of (a) income tax recovered by covenantees and (b) sur-tax saved by covenantors by virtue of the provisions of section 3 of the Finance Act, 1957, and section 5 of the Finance Act, 1957, in each of the six income tax years ended 1971-72.
265.
asked the Minister for Finance if he will give particulars of the revenue lost under the headings of (a) income tax recovered by covenantees and (b) sur-tax saved by covenantors in respect of the provisions of section 20 of the Finance Act, 1922, by virtue of that section being unamended to the extent of the amendment made by section 3 of the Finance Act, 1940, in each of the six income tax years ended 1939-40.
I propose, with the permission of the Ceann Comhairle, to take Questions Nos. 263, 264 and 265 together.
Firstly as regards sub-question (b) in each of the questions there is no information available as to the amount of sur-tax saved by covenantors. Likewise statistics are not available in respect of the income tax recovered by covenantees mentioned in the first question, that is, covenantees who are individuals.
The figures of income tax repaid to covenantees in the six years ended 1971-72 as asked in the second question are as follows:
|
Year |
Income tax recovered by covenantees |
|
1966-67 |
£83,508 |
|
1967-68 |
£109,915 |
|
1968-69 |
£134,914 |
|
1969-70 |
£185,865 |
|
1970-71 |
£81,198 |
|
1971-72 |
£43,742 |
The only information now available in respect of the income tax repaid to certain covenantees in the six years ended 1939-40 as asked for in the third question is that for the year 1938-39 repayments totalling £6,177 were made to such covenantees.
