Vol. 537 No. 2
187 Mr. Naughten asked the Minister for Finance the amount collected in each of the past three years from the 2% levy on insurance premiums; the estimated percentage collected from motor insurance premiums; and if he will make a statement on the matter. [15777/01]
The yield from the 2% stamp duty levy on insurance premiums for the last three years is as follows: 1998, £33.3 million; 1999, £37.9 million; 2000, £44.9 million.
This levy is imposed on almost all non-life insurance premia, the exceptions being reinsurance, voluntary health insurance, marine, aviation and transit insurance and export credit insurance. The insurance companies pay levy en bloc to the Revenue Commissioners and it is not known what proportion of the total yield is attributable to motor insurance premia. The levy was introduced to broaden the stamp duty base, thereby raising additional revenue. I have no plans, at present, to make any changes in this regard.
