Tax Collection Forecasts

Dáil Éireann Debate, Thursday - 25 April 2013

Thursday, 25 April 2013

Questions (68)

Eric J. Byrne

Question:

68. Deputy Eric Byrne asked the Minister for Finance the revenue raised from an increase in DIRT for payments made annually from 33% to 35%; and if he will make a statement on the matter. [19659/13]

Written answers

Minister for Finance

I am advised by the Revenue Commissioners that the estimated yield to the Exchequer from increasing the Deposit Interest Retention Tax (DIRT) rate from 33% to 35% would be of the order of €40 million in a full year. This projection assumes no significant behavioural change by depositors or a change in interest rates applied by financial institutions to savings.