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Dáil Éireann debate -
Tuesday, 5 Mar 1991

Vol. 405 No. 9

Written Answers. - Family Business Data.

Ruairí Quinn

Question:

67 Mr. Quinn asked the Minister for Finance if he will give details of the following data for family businesses (1) the number in total, (2) the number which are sole traders, (3) the number of limited liability companies which are known to be family businesses, (4) the average turnover and (5) the amount paid by family businesses in capital acquisitions tax and capital gains tax in (a) 1986-87, (b) 1987-88, (c) 1988-89 and (d) 1989-90; and if he will make a statement on the matter.

The information sought by the Deputy is not available. I am, however, informed by the Revenue Commissioners that 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. The Deputy may also wish to note that there are some 170,000 self-employed cases on record who are assessed for income tax under Schedule D.

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