Skip to main content
Normal View

Tax Code

Dáil Éireann Debate, Tuesday - 4 December 2012

Tuesday, 4 December 2012

Questions (158)

Pearse Doherty

Question:

158. Deputy Pearse Doherty asked the Minister for Finance the revenue that would be raised for the Exchequer if capital gains tax was increased to 35%. [54089/12]

View answer

Written answers

I am advised by the Revenue Commissioners that the full year yield to the Exchequer, estimated in terms of expected 2013 gains, from increasing the CGT tax rate from 30% to 35% could be in the region of €80 million. This figure includes corporate gains. However, this estimate assumes no behavioural changes on the part of taxpayers, and increases in rates may have a significant behavioural impact and may not produce a corresponding increase in tax yield. In current economic conditions any estimate of additional yield must be treated with caution. In addition, increasing the rate could, in theory, lead to a reduction in yield from the tax.

Top
Share