asked the Minister for Finance the estimated additional tax which will accrue to the Exchequer each year as a result of the tax amnesty because tax evaders are now in the tax net.
Written Answers. - Tax Amnesty.
97.
The relevant available figures are shown below. They are based on the results of a once-off survey of tax amnesty data. The survey was carried out in the early months of 1989.
Generally speaking, the figures represent the admitted tax liabilities over a number of years of: (a) cases not previously on the tax record, and (b) cases which were on the tax record but which, under the amnesty, disclosed new sources of income or made fuller disclosures under tax headings previously admitted.
|
Amount of accumulated tax liabilities £ million |
Number of cases |
|
|
Cases not previously on record |
2.1 |
205 |
|
Other cases |
27.3 |
1,086 |
There is likely to be a recurring tax liability in respect of these new sources of revenue. However, in the absence of more precise data than those available, it is extremely difficult to estimate with any degree of reliability the likely size of this liability in any future year. Notwithstanding this, it would be reasonable to expect that any additional tax revenue which will arise each year from the new sources is likely to be somewhat less than the amount of the accumulated liabilities shown above.
The Deputy will appreciate that the main result of the amnesty was the earlier and more effective collection of known arrears of tax. The success of the amnesty is allowing the Revenue Commissioners to devote increased resources to the pursuit of remaining tax defaulters.
98.
asked the Minister for Finance the total amount of revenue being raised under the tax amnesty to date; and the amount which has been collected in respect of each tax.
The tax amnesty applied to those taxpayers who brought their affairs up to date by 30 September 1988. The following table contains the information requested, in so far as it is available, on the revenue received by the Revenue Commissioners in 1988 on foot of the tax amnesty and related factors.
|
Tax Head |
£m |
|
Income Tax (excluding PAYE) |
190 |
|
PAYE |
75 |
|
PRSI |
35 |
|
Corporation Tax |
49 |
|
VAT |
77 |
|
Capital Gains Tax |
18 |
|
Levies |
53 |
|
Total |
497 |