asked the Minister for Finance the 1988 budget estimate of receipts from the tax amnesty; and the amount received to date.
Written Answers. - Tax Amnesty Receipts.
48.
Section 72 of the Finance Act, 1988, provides for the incentive for taxpayers to bring their tax affairs up to date as announced in the budget. This measure, together with a number of other changes in the tax collection procedure, was estimated to yield £30 million in 1988.
The indications to date are that tax revenue is running ahead of expectations. It would appear that a substantial part of the increase in receipts is due to the incentive scheme and the other measures designed to clear arrears of tax. It is not possible, at this stage, however, to say how much of the increase is due specifically to the tax incentive scheme.
The Revenue Commissioners have installed a system to monitor the effects of the changes in the tax collection procedure. While it may not be possible to identify the yield figures associated specifically with the tax incentive scheme it should be possible at the end of this year to provide estimates of additional yield in 1988 from all the changes combined.