asked the Minister for Finance the revenue foregone as a result of tax reliefs for (a) profits from export sales and (b) exports and other qualifying activities in the Shannon area in respect of each year since 1970.
Written Answers. - Tax Reliefs.
43.
(a) The revenue forgone by way of exports is as follows:
|
Year of assessment |
Cost of “exports” relief |
|
£m. |
|
|
1970-71 |
15.1 |
|
1971-72 |
16.1 |
|
1972-73 |
15.9 |
|
1973-74 |
15.4 |
|
1974-75 |
23.8 |
|
1975-76 |
24.6 |
|
1976-77 |
Not available |
(b) Statistics relating to exempted trading in the Shannon area are not available but it is estimated that "Shannon" relief is currently costing the Exchequer about £5 million a year.
44.
asked the Minister for Finance the revenue foregone as a result of tax reliefs for mining profits in respect of each year since 1970.
Presumably the Deputy has in mind tax on profits from the mining of scheduled minerals, that is, the minerals listed in Schedule 13 to the Income Tax Act, 1967.
Under the provisions of section 6 of the Finance (Profits of Certain Mines) (Temporary Relief from Taxation) Act, 1956, and Chapter II of Part XXV of the Income Tax Act, 1967, profits from the mining of these minerals were exempt from tax up to and including the year 1973-74. It is estimated that the cost of the exemption was about £4 million per annum.
45.
asked the Minister for Finance the value of income tax relief for Irish investors in Irish companies under section 7 of the Finance Act, 1932, as amended, in respect of each year since 1970.
The statistics requested are not available but it is estimated that the tax relief afforded by sections 329-332 of the Income Tax Act, 1967—formerly section 7 of the Finance Act, 1932, as amended—is currently costing the Exchequer about £150,000 a year.
46.
asked the Minister for Finance the revenue foregone as a result of (a) initial allowances for machinery and plant and (b) free depreciation for new machinery and plant for use (i) in the western part of the country and (ii) in the rest of the country, in respect of each year since 1970.
Statistics are not available in such a manner as would enable the information requested by the Deputy to be furnished. It is estimated, however, that the amount of revenue foregone as a result of granting accelerated capital allowances in the form of initial allowance and free depreciation for machinery and plant is currently about £10 million a year. Of this amount, about £100,000 applies to free depreciation in the designated areas.
47.
asked the Minister for Finance the revenue foregone as a result of tax reliefs for capital expenditure on industrial buildings in respect of each year since 1970.
Statistics are not compiled in such a manner as would enable the information requested by the Deputy to be furnished. It is, however, estimated that the tax relief afforded in respect of capital expenditure incurred on industrial buildings and structures is currently costing the Exchequer about £750,000 a year.
48.
asked the Minister for Finance the revenue foregone as a result of tax reliefs for capital expenditure on scientific research, patents, trade marks, expertise et cetera in respect of each year since 1970.
Statistics are not available in such a manner as would enable the information requested by the Deputy to be furnished. It is estimated, however, that the tax reliefs referred to are currently costing the Exchequer about £100,000 a year.
49.
asked the Minister for Finance the revenue foregone as a result of tax reliefs for the recruitment and training of staff in respect of each year since 1970.
The information requested is not available but it is thought that the cost of the reliefs referred to would be less than £50,000 per annum.