Dáil Éireann debate -
Tuesday, 10 Jul 1990

Vol. 401 No. 4

Written Answers. - Family-Owned Businesses.

Peter Barry

Question:

82 Mr. Barry asked the Minister for Finance if he will outline the number of family-owned businesses in Ireland; their annual turnover; the number of persons they employ; the corporation profit taxes paid by them in the last financial year; the inheritance or gift taxes paid by their owners in the last ten years; the percentage they generate of Gross National Product; and the value of their exports.

Minister for Finance (Mr. A. Reynolds)

There are approximately 46,000 "close companies" on the records of the Revenue Commissioners for corporation tax purposes. "Close companies" are companies where five or fewer individuals control more than 50 per cent of the shares. These are, in the main, family-owned companies. About 12,000 close companies were liable for corporation tax in 1989 and they paid an estimated £191 million in corporation tax.

The other information requested by the Deputy is not available.