asked the Minister for Finance if he is aware that wealth tax had not yet been formally assessed in some 2,370 cases, at 30 April 1979, that 2,200 returns remained outstanding, and if he will make a statement on the efforts being made to process these outstanding cases.
Written Answers. - Wealth Tax Assessments.
375.
I am aware of the facts stated by the Deputy.
The corresponding figures for 31 December 1979 indicate that on that date tax had not been formally assessed in some 2,100 cases. In 2,030 of these cases returns were still outstanding, while the remaining 70 cases were under scrutiny.
A case refers to the tax payable by a taxpayer on any one valuation date. Hence a particular taxpayer will be counted three times in the figure 2,100 above if his returns for all three valuation dates are unassessed. Similar considerations apply to the figures quoted in the Deputy's question.
Examination and assessment of cases in which returns are submitted is proceeding. Cases in which returns are outstanding are being followed up and the requirements of the Revenue Commissioners are being insisted on in full. Interest on tax in arrear is accruing at the rate of 1.25 per cent per month or part of a month.
I would point out to the Deputy that substantial payments on account of tax have been made in cases in which returns are outstanding. These payments amounted to £3,260,000 on 30 April 1979 and the corresponding figure on 31 December 1979 was £2,878,000, the decrease of £382,000 being due to the formal assessment of returns between those two dates.