Dáil Éireann Debate, Tuesday - 30 November 2004
237 Mr. J. Higgins asked the Minister for Finance if he will make funding available for the VAT refund on the sales of the Live Aid DVD from a source other than the fixed overseas development aid budget; and if he will make a statement on the matter. [31357/04]
View answerThe promoters of the Band Aid CD and Live Aid DVD proposed that VAT collected on the sales of the CD and DVD be refunded to the Band Aid Trust. The position is that VAT must be charged on all CDs and DVDs. As the Band Aid Trust did not pay the VAT in the first place, the issue raised is not that VAT paid should be refunded but that an amount equivalent to the VAT received might be given by the State to the Band Aid Trust.
An amount equivalent to the VAT paid on sales of the Band Aid CD and Live Aid DVD will be paid from voted money and, in this regard, the Vote for international co-operation, for which I have provided an additional €60 million in 2005, bringing the total allocation to €460 million, is the most appropriate vehicle for effecting this payment.
238 Mr. R. Bruton asked the Minister for Finance the number of persons who will pay tax at the 20% rate and at the 42% rate if the existing standard rate cut-off and the existing personal credits continue to apply in 2005; and the numbers who will pay at these rates if both the standard rate cut-off and the personal credits are each increased by 10%. [31368/04]
View answerThe personal tax credit mentioned in the question is assumed to be the personal tax credit available to single, widowed and married persons as well as the additional tax credit for lone parents.
I am informed by the Revenue Commissioners that the projected number of tax cases liable to income tax at the 20% and 42% rates in 2005, assuming the continuation of the existing standard rate bands and personal tax credits, is estimated at 620,240 and 685,850 respectively.
Assuming increases of 10% on the credits and bands, it is estimated that these numbers would change to 685,750 and 581,030 respectively. A married couple, who has elected or has been deemed to have elected for joint assessment, is counted as one tax case. These figures are provisional, subject to revision and have been rounded to the nearest five as appropriate.
