Dáil Éireann Debate, Tuesday - 9 March 2010
163 Deputy Caoimhghín Ó Caoláin asked the Minister for Finance the number of businesses, both individuals and companies, that notified the Revenue Commissioners that they had ceased trading and operations due to business failure or trading conditions in each year 2005, 2006, 2007, 2008 and 2009 and in January 2010; and if he will make a statement on the matter. [11393/10]
View answerI am advised by the Revenue Commissioners that the specific reason why the business has ceased is not recorded by them. Businesses cease for many reasons, including trading conditions, retirement of the proprietors, death, formation of partnership or incorporation into Limited Company in the case of a sole trader. The following numbers of individuals and companies were ceased on their records during the period, as requested by the Deputy:
|
Year |
Individuals |
Companies |
|
2005 |
35,536 |
8,399 |
|
2006 |
35,852 |
7,123 |
|
2007 |
34,586 |
7,184 |
|
2008 |
28,756 |
7,525 |
|
2009 |
11,915 |
4,455 |
|
Jan 2010 |
87 |
69 |
The Commissioners advise that the figures should be treated with some caution as, based on past experience, there tends to be a time lag between date of cessation and notification to Revenue. In the case of businesses ceasing in 2009, the bulk of returns are not due to be filed until later in 2010.
