asked the Minister for Finance the amount of extra finance he expects to collect in income tax in 1981-82 as compared with 1980-81; and the amount by which that sum will exceed the cost of income tax concessions for 1981-1982 as announced in the budget.
Ceisteanna—Questions. Oral Answers. - Income Tax Returns.
21.
Tax estimates are prepared by reference to financial years and it is estimated that the increase in income tax collection in 1981 over 1980 will be £131 million. The cost of the income tax concessions announced in the 1981 Budget is estimated at £66 million for 1981. To this must be added the extra cost in 1981 of the concessions announced in the 1980 Budget. This extra cost is estimated at £95.5 million, which means a total reduction of £161.5 million in the 1981 receipts. This amount exceeds the estimated increased income tax collection of £131 million in 1981 as compared with 1980.