Joanna Tuffy
Question:73. Deputy Joanna Tuffy asked the Minister for Finance the tax yield from Capital Taxes (details supplied); and if he will make a statement on the matter. [19440/13]
View answerWednesday, 24 April 2013
Questions (73)
Written answers
The outturn yields from capital taxes (Capital Acquisitions Tax and Capital Gains Tax) in 2011 and 2012 as compared to the estimated yields for those years at Budget time are set out in the tables below.
Capital Acquisitions Tax
|
Year |
Budget estimate €m |
Outturn €m |
Deviation €m |
|
2011 |
250 |
244 |
-6 |
|
2012 |
295 |
283 |
-12 |
Capital Gains Tax
|
Year |
Budget estimate €m |
Outturn €m |
Deviation €m |
|
2011 |
410 |
416 |
+6 |
|
2012 |
355 |
414 |
+59 |
The outturn yield from capital taxes in any year as compared to the Budget estimate for that year will be determined by a number of variables aside from any changes introduced at Budget time, including movements in asset prices and, particularly in the case of Capital Gains Tax, the numbers of transactions and the behavioural impact on individuals of actual or anticipated changes in the tax treatment of those transactions.