Arthur Morgan
Question:206 Deputy Arthur Morgan asked the Minister for Finance the cost to the Exchequer if there was a 1% reduction on the standard rate of VAT. [4332/09]
View answerTuesday, 10 February 2009
Questions (158, 159, 160, 161, 162, 163, 164)
Arthur Morgan
Question:207 Deputy Arthur Morgan asked the Minister for Finance the cost to the Exchequer if there was a 2% reduction on the standard rate of VAT. [4333/09]
View answerArthur Morgan
Question:208 Deputy Arthur Morgan asked the Minister for Finance the cost to the Exchequer if there was a 3% reduction on the standard rate of VAT. [4334/09]
View answerArthur Morgan
Question:209 Deputy Arthur Morgan asked the Minister for Finance the cost to the Exchequer if there was a 4% reduction on the standard rate of VAT. [4335/09]
View answerArthur Morgan
Question:210 Deputy Arthur Morgan asked the Minister for Finance the cost to the Exchequer if there was a 5% reduction on the standard rate of VAT. [4336/09]
View answerArthur Morgan
Question:211 Deputy Arthur Morgan asked the Minister for Finance the cost to the Exchequer if there was a 6% reduction on the standard rate of VAT. [4337/09]
View answerWritten answers
I propose to take Questions Nos. 206 to 211, inclusive, together.
I am informed by the Revenue Commissioners that the estimated full year cost to the Exchequer of a reduction in the standard rate of Value Added Tax by 1%, 2%, 3%, 4%, 5% and 6% is as follows.
|
Existing Rate |
Reduction |
New Rate |
Cost |
|
% |
% |
% |
€m |
|
21.5 |
1.0 |
20.5 |
390 |
|
21.5 |
2.0 |
19.5 |
780 |
|
21.5 |
3.0 |
18.5 |
1,170 |
|
21.5 |
4.0 |
17.5 |
1,560 |
|
21.5 |
5.0 |
16.5 |
1,950 |
|
21.5 |
6.0 |
15.5 |
2,340 |
The estimates provided are based on current expectations of VAT yield in 2009.
Joan Burton
Question:212 Deputy Joan Burton asked the Minister for Finance, further to Parliamentary Question No. 215 of 30 September 2008, when in early 2009 the Revenue Commissioners will publish their study on the effectiveness of the restriction on the use of incentive tax reliefs and exemptions by high earners; and if he will make a statement on the matter. [4351/09]
View answerI am informed by the Revenue Commissioners that the data from the 2007 tax returns filed by the high earners in question are currently being processed and analysed. They plan to have the results of a provisional study on the effect of this first year of the restriction ready, by the end of April 2009, for submission to my Department for consideration. I would hope to be in a position to publish these results shortly afterwards.