Written Answers Nos. 152-172
152. Deputy Michael McGrath asked the Minister for Finance the number of persons who have received a custodial sentence in the past ten years for illegal fuel smuggling activity; and if he will make a statement on the matter. [25233/13]
View answerI am advised by the Revenue Commissioners that there were 12 convictions in the last 10 years, for offences related to the illicit trade in mineral oils, including smuggling, in respect of which custodial sentences were imposed by the Courts. The sentences imposed were suspended in a number of cases. One conviction was overturned, on appeal, by the Court of Criminal Appeal, and in another case a fine was imposed, instead of the custodial sentence, following appeal. I would like to advise the Deputy also that a further 9 cases are currently before the Courts, and that files are being prepared, with a view to submission to the Director of Public Prosecutions, in 14 other cases.
153. Deputy Michael P. Kitt asked the Minister for Finance if he has an estimate of the amount of funds to be raised through a levy on texting on mobile phones; and the estimated amount to be raised through a 1 cent levy per text for the past five years. [25241/13]
View answerI am informed by ComReg that just over 12.3 billion SMS messages were sent in the 12 months ending 31 December 2012, and a total of some 59 billion were sent in the five years ending 31 December 2012. On the face of it, this would imply a potential yield over the last five years of c. €590m, and a yield in 2012 of c. €123m from a 1 cent levy on SMS messages. This yield cannot, however, be directly inferred from the SMS traffic figure, as the levy’s imposition could result in considerable behavioural impact among consumers, and could have significant implications for the charging arrangements of providers.
While any additional revenue would be welcome in the current circumstances, wider social and economic factors which may militate against the introduction of a further tax on text messages would also have to be taken into account. It must also be borne in mind that mobile phone calls and text messages are already subject to VAT at 23%. An additional flat rate levy of the order referred to by the Deputy on text messages could significantly increase the overall rate of taxation on accounts, particularly given that the average monthly spend per user is of the order of €35.
154. Deputy Brendan Griffin asked the Minister for Finance his views on correspondence (details supplied) regarding a pension scheme; his plans regarding same; and if he will make a statement on the matter. [25246/13]
View answerAs the Deputy will be aware the pension arrangements for the staff of Permanent TSB are a matter for the management of that company and for the trustees of the relevant pension schemes. It would not be appropriate for me to comment on the implications for an individual arising out of any proposed restructuring by Permanent TSB of its defined benefit pension schemes. I understand that a proposal by the company to the trustees in relation to the defined benefit pension schemes is in the process of referral to the Labour Court for discussion with interested parties.
155. Deputy Caoimhghín Ó Caoláin asked the Minister for Finance the progress made towards the implementation of basic bank accounts here; and if he will make a statement on the matter. [25285/13]
View answerAs part of my Department’s Strategy for Financial Inclusion in Ireland, a basic payment account (named the Standard Bank Account) was offered by three banks (AIB, Bank of Ireland and permanent tsb) in three pilot locations (New Ross, Tallaght and Tullamore) from 29 June 2012. The Financial Inclusion Working Group (FIWG) was tasked with governance of the project. The Standard Bank Account (SBA) Pilot finished on 31 March 2013 after a 9-month pilot period. A total of 205 accounts were opened during the Pilot, which was below expectations. The initial Pilot evaluation suggests that the lower than expected take-up of the SBA was due to the lack of a ‘trigger event’ amongst the target cohort in the pilot locations, such as a requirement to have an income or benefit payment made to a bank account.
I am advised that the report of the FIWG on the Pilot will be submitted for my consideration in a few weeks, following which I expect that the Report will be presented to Government and published. My Department through the Financial Inclusion Working Group will work closely with all stakeholders over the coming months to optimise the availability of the Standard Bank Account nationally. The ultimate aim of the strategy is to ensure that those who were once financially excluded can access all of the benefits of the modern financial system including affordable credit and relevant protection products.
156. Deputy Pearse Doherty asked the Minister for Finance the amount that could be raised for the Exchequer if the current withholding exemption on royalties were abolished and a 1% withholding tax were applied to outgoing royalties from Irish companies to foreign holding companies; and if he will make a statement on the matter. [25295/13]
View answer189. Deputy Pearse Doherty asked the Minister for Finance the revenue that would be raised for the Exchequer if withholding tax were applied to dividends paid to treaty countries. [25592/13]
View answerI propose to take Questions Nos. 156 and 189 together.
Both questions relate to the domestic provisions on withholding taxes under the Taxes Consolidation Act 1997. If the Irish tax legislation were amended to provide that a 1% withholding tax would apply to outgoing royalties from Irish companies, or that withholding tax would apply to dividends paid to treaty countries, any changes would be subject to the relevant tax treaty rules on such payments. For example, if a double taxation treaty provided that the rate of withholding tax on royalties was 0% - and this is the case in some 30 (out of 69) of Ireland’s signed treaties - then that zero rate would apply, because treaties have precedence over domestic law.
Similarly, some 22 of Ireland’s double taxation treaties provide for nil withholding taxes on dividends, and approximately 30 more provide for a rate of 5% for companies (subject to an ownership criterion being met) - these are the maximum rates that would apply, regardless of the rate inserted in domestic law.
I am informed by the Revenue Commissioners that the available data on royalties is not sufficiently detailed or precise to ascertain the revenue that could arise to the Exchequer if the changes mentioned in the question were made In relation to the revenue that could be raised for the Exchequer if withholding tax were applied to dividends paid to treaty countries, it is not possible to separately identify from tax records the amount of dividends that are paid to treaty countries and therefore the information requested by the Deputy cannot be ascertained.
157. Deputy Pearse Doherty asked the Minister for Finance if he will set out by region-country the percentage amount and individual monetary amounts of finance forwarded by National Asset Management Agency to developers to complete projects in 2012 and to date in 2013. [25296/13]
View answerI am advised by NAMA that the information referenced by the Deputy is available in the following format only – from inception to end-April 2013, NAMA advises that it had approved €1.8 billion in new loan advances to debtors, €1.1 billion of which had been completed or drawn down. By region/country, the percentage amount was:- Ireland: 46%;- Northern Ireland: 1%;- Britain: 47%;- Other: 6%. I am further advised by NAMA that decisions to advance new funding to debtors are made by reference to strict commercial criteria with its stated objective to preserve or enhance value.
158. Deputy Pearse Doherty asked the Minister for Finance if he or anyone in his Department during this Administration or during the previous Administration held meetings with representatives of Apple. [25297/13]
View answer184. Deputy Pearse Doherty asked the Minister for Finance if any officials from his Department or from the Revenue Commissioners ever met with the tax advisers to Apple; and if any such meetings were facilitated by his Department. [25551/13]
View answerI propose to take Questions Nos. 158 and 184 together.
Since the formation of this Government, there have been no meetings between me or officials in the Fiscal Policy Division of my Department and the company referred to in the question on taxation matters. Nor have there been meetings between me or officials in the Fiscal Policy Division of my Department and tax advisers acting in their capacity as advisers to said company.
The Secretary General of my Department met with the Irish Managing Director of the company referred to on February 27th 2012 to discuss the broad technology sector and how best to use IT in running an organisation. As a result of that discussion, it was arranged that the Regional Sales Director for North Europe would have a follow-up meeting with the Secretary General on May 22nd 2012. No discussion of Ireland’s or Apple’s tax situation took place at either meeting.
Based on the information available to me in the timeframe for replying to this question, including conversations with current and former staff in the Department of Finance and searches of electronic files held in the Fiscal Policy Division and in my office back to May 2008 for the company name, I am not currently aware of any other meetings between officials in my Department and the company, or representatives of the company, referred to in the question in relation to taxation matters. Given the timeframe in question spans more than 30 years, it is not possible to be definitive in this regard.
I should also inform the Deputy that since the publication of the Memorandum to Members of the United States Senate Permanent Subcommittee on Investigations on 21 May 2013, officials in my Department have been in telephone contact with the company to outline the Department of Finance position on the material contained in that Report in line with the statements that I made publicly last week on the matter. I am informed by the Revenue Commissioners that meetings with the representatives of, and tax advisors to, multinational corporations take place in the normal course of engagement between Revenue and taxpayers, without the facilitation of my Department or the knowledge of the Minister in charge at the time.
161. Deputy Patrick O'Donovan asked the Minister for Finance if he will clarify the situation regarding capital gains tax (details supplied). [25303/13]
View answerI am informed by the Revenue Commissioners that relief under Section 598 of the Taxes Consolidation Act 1997 (“Section 598”), commonly referred to as retirement relief, is available to farmers who satisfy the conditions applicable to that relief. While the relief is commonly referred to as retirement relief it is not, in general, necessary that the farmer disposing of his or her farm actually retire from farming. An exception to this is where the relief is claimed by reference to the Early Retirement from Farming Scheme (“the Scheme”), as a condition of that Scheme is that the farmer permanently retires from farming on a commercial basis. Once a farmer satisfies the conditions of the Scheme (including in particular the permanent retirement from farming) and satisfies the related conditions of Section 598, relief from capital gains tax may be claimed when the land is ultimately disposed of, even though at that time the farmer does not farm the lands (e.g. the lands were let up to the time of disposal in accordance with the terms of the Scheme).
However, if a farmer breaches the conditions of the Scheme at any stage, for example, by not permanently ceasing farming, the Scheme contains provisions with regard to recovery of all benefits obtained under the Scheme. From a capital gains tax viewpoint, if a farmer were to claim Section 598 relief on the basis that he or she satisfied the terms of the Scheme but those terms are not adhered to, then the claim for Section 598 relief would fail – as neither the terms of the Scheme nor the basis on which the relief under Section 598 is claimable would be satisfied.
163. Deputy Brendan Griffin asked the Minister for Finance further to Parliamentary Question No. 202 of 14 May, 2013, if a person (details supplied) in County Kerry will be exempted from the local property tax; and if he will make a statement on the matter. [25307/13]
View answerI am advised by Revenue that the specific case to which the Deputy refers in his question does not qualify for an exemption because the person involved did not receive an award from either the Personal Injuries Assessment Board or a Court and is not a beneficiary under any trust as is required by the Finance (Local Property Tax) Act 2012 (as amended). However, from the additional information recently supplied to Revenue by the person he does qualify for a reduction in the chargeable value of his property under Section 15A of the Act (as amended). Section 15A provides for a reduction in the market value of a residential property that has been adapted for occupation by a disabled person where the adaptation has been grant-aided or approved for grant aid, by a local authority under either of the following:- (1) Housing (Adaptation Grants for older people and people with disabilities) Regulations 2007; or - (2) Regulation 4 of the Housing (Disabled Persons and Essential Repairs Grants) Regulations 2001.
Revenue has informed me that a member of the LPT team made direct contact with the person in question and confirmed his entitlement to the relief under Section 15A. The person confirmed to the official that he will reassess the value of his property taking account of the relief as specified in Section 15A and will file his LPT Return at that point.
164. Deputy John Lyons asked the Minister for Finance if, as part of his plans to extend taxation to online betting platforms like betting exchanges, he has given any consideration to imposing taxation on online casino and poker formats; and if he will make a statement on the matter. [25337/13]
View answerBetting is the only form of gambling subject to taxation in the form of excise duty. The Finance Act 2011 provides for the taxation of bets that remote bookmakers enter into with persons in the State. This means, for example, that a business which engages in online bookmaking and which accepts bets from people in this country will be liable for betting duty on those bets, irrespective of where that business is based. The existing betting duty (1%) will be applied to such bets. The Finance Act also provides for the taxation of Betting Exchanges under the new arrangements; however the calculation of the tax will take account of their particular business model, in other words a 15% tax on the commission charged. In addition, excise duties are being applied to the granting and renewal of remote bookmakers’ and remote betting intermediaries’ licences.
The Betting (Amendment) Bill, which will establish the regulatory framework for the licensing regime, was published in July last year. Since that date work has been continuing by officials of my Department and Revenue on the drawing up of a number of amendments to the Bill to strengthen enforcement measures. It is my intention, given the number of amendments, to go back to Government in the very near future for approval to republish the Bill.
The Deputy will be aware that under the EU Technical Standards and Regulations Directive it will be necessary to show the published Bill to the EU Commission and other Member States, which could take 3 months for clearance. However, I hope to use this time to progress the Bill through the Dáil subject to scheduling agreement between the Whips.
The tax changes provided for in the Finance Act can only be implemented once the Betting (Amendment) Bill is enacted. As the Deputy may be aware, my colleague the Minister for Justice is currently working on a Gambling Control Bill which will provide for the regulation of all gambling in Ireland. Once this Bill is enacted thus leading to a regulated regime for online casino and poker formats, I will consider options for taxation of this sector.
165. Deputy Willie O'Dea asked the Minister for Finance if he will confirm that the Revenue Commissioners Office at River House, Limerick is unable to provide assistance to the public regarding their taxation liabilities and queries as a result of budget cutbacks, despite the willingness to provide this assistance by Revenue staff and that there are significant backlogs resulting from the introduction of the property tax; if his attention has been drawn to the fact that the public is unable to reach a member of the Revenue Commissioners without unreasonable delay by hotline; his plans to address these issues; and if he will make a statement on the matter. [25374/13]
View answerThe Office of the Revenue Commissioners is notable for the efforts it makes to provide effective and timely assistance to all taxpayers regarding their tax affairs. The range of electronic and on-line contact options are recognised as leaders amongst international revenue organisations, and these are supported by “lo-call” telephone services, postal services and public offices throughout the country. Revenue regards it as a strategic priority to make it easier and less costly for taxpayers to comply with their obligations. Along with other public service organisations, Revenue is obliged to regularly review the manner in which service is delivered to ensure the best mix of effectiveness and economy. As part of that process, procedures in the Limerick, Cork and Tralee offices have changed since the beginning of 2013. Up to that point, taxpayers could have certain tax matters fully dealt with, and have their forms processed instantly at the public counter. While this was an excellent service, it had a number of problems, including the difficulty of ensuring proper management of workflow. Processing at the counter ceased from January 2013. Taxpayers now receive a full service in terms of information and guidance, including detailed guidance on use of our on-line services. The public areas also have facilities for completion of forms and for self-service on computers provided for the purpose, with assistance if needed. Any forms or other documents are received for later processing and responses sent out by post or on-line as appropriate.
The number of callers per day has not fallen as a result of the changes implemented. Indeed, there is evidence that some taxpayers are more ready to drop into the public office because their waiting time is considerably less than in the past.
The local Revenue offices also provide an important service in supporting people with the filing and payment of Local Property Tax, including advice and support in filing on-line. Revenue has concentrated its support for Local Property Tax on a telephone help line and online resources and advice, so the public office support is general in nature. Taxpayers with complex queries are directed to the telephone and on-line resources. Due to the huge volume of calls being received, there may be some delay in contacting the telephone help line, but Revenue's statistics indicate a very good response rate and do not show an unreasonable delay.
Revenue staff – in Limerick and elsewhere – continue to provide a comprehensive service to the public, albeit in a slightly changed form. Seasonal peaks are a normal feature of Revenue business and can lead to temporary backlogs and delays. I am advised there has been no deterioration in the quality of service offered by Revenue offices.
166. Deputy Pearse Doherty asked the Minister for Finance if he has considered a vacant land tax; if he will estimate the amount that could be raised for the Exchequer if a vacant land tax was applied in the same way as higher rates 50% are applied to vacant properties to incentivise landlords to use them by Dublin City Council [25375/13]
View answerIt is not clear from the question what other properties or land the proposed "vacant land tax" would apply to. I am advised by the Revenue Commissioners that they do not have any data on “vacant land”. Based on figures provided by the Central Statistics Office (CSO) the number of "vacant dwellings" per the 2011 census was in the region of 290,000. However, the CSO does not have overall valuation data for such dwellings so it would not be possible to estimate the potential yield from a vacant land tax on such properties. As the Deputy may be aware, the Local Property Tax applies in the same way to vacant residential properties as it applies to occupied residential properties, unless such properties are not suitable for use as a dwelling.
I am advised by the Central Statistics Office and the Minister for the Environment, Community and Local Government that they do not have data on undeveloped land which would enable a yield from a “vacant land tax” to be estimated.
With regards to vacant commercial properties, I am advised by the Minister for the Environment, Community and Local Government that the Local Government Act 1946 provides that where a property in a county council or urban area is unoccupied on the date of the making of the rate, the owner becomes liable for payment of rates. However, the owner is entitled to a 100% refund if the property is vacant for specified purposes. These are where the premises are unoccupied for the purpose of the execution of additions, alterations or repairs; where the owner is bona fide unable to obtain a suitable tenant at a reasonable rent; and where the premises are vacant pending redevelopment.
Separate legislation governs refunds in Dublin, Cork and Limerick. Section 71 of the Local Government (Dublin) Act 1930; section 29 of the Limerick City Management Act 1934 and section 20 of the Cork City Management (Amendment) Act 1941. While the same criteria for refunds apply, only 50% of the rates paid is refundable to the owner of vacant premises in these cities.
167. Deputy Joe McHugh asked the Minister for Finance following the commencement date, if he will consider establishing mandatory furnishing of fire and accidental damage insurance policies prior to commencement of private construction contracts; and if he will make a statement on the matter. [25411/13]
View answerI understand from clarifications that my Department sought on this question that the Deputy is enquiring whether fire and accidental damage insurance policies (which I am deeming to be a form of public liability insurance) should be a compulsory requirement for contractors carrying out private construction contracts. Although such cover is not currently a compulsory requirement, it is deemed an essential requirement by many bodies that authorise others to conduct work on their behalf, e.g. many primary contractors will refuse to allow sub contractors onto a site without proof that they hold adequate public liability cover, even though it is not a legal requirement. In addition, it is advisable for anybody getting work carried out in their home to ensure that a contractor is properly insured before commencing work. This avoids any potential dispute over liability should an accident happen or if any problems arise with the work carried out.
There are currently no proposals to make public liability insurance compulsory. It should be noted that any decision of this nature would have implications for the small business sector and therefore would first require consultation with the relevant stakeholders.
169. Deputy Andrew Doyle asked the Minister for Finance if he or officials in his Department have received representations from the industry stakeholders regarding the Markets in Financial Instruments Directive regarding the expansion or watering down of the Directive; the persons from whom these representations came; the discussions involved; and if he will make a statement on the matter. [25432/13]
View answerThe Irish Presidency continues to progress the complex Markets in Financial Instruments Regulation and Directive, (MiFIR and MiFID) with a view to reaching an agreement on a Council general approach before the end of its Presidency. To date, the Irish Presidency has received approximately 50 representations from Industry and individuals which have focused on a wide range of the MiFID provisions including: Market Structure with particular emphasis on the OTF category and the trading obligation; Clearing and Access; Pre and Post Trade Transparency Provisions; The definition and exemptions of financial instruments in relation to physically settled commodity derivatives; Position limits; Investor Protection; Third country regime; Transaction reporting; Consolidated tape provider; Straight through processing; Algorithmic trading; Post trade risk reduction services; Exemptions; Management bodies.
Representations have been made by or on behalf of a wide range of industry representatives groups and by individual financial institutions with an interest in MiFID. The representations cover a broad spectrum of views and each is considered with a view to better informing the Presidency of industry perspectives on the issues at hand. Good progress towards a final agreement on MiFID has been made and the latest compromise texts are available on the EU Council website.
170. Deputy Andrew Doyle asked the Minister for Finance if he will outline the workings and procedures that Irish banks are using under the Central Bank of Ireland's code of conduct on mortgage arrears; and if he will make a statement on the matter. [25436/13]
View answerI have been informed by the Central Bank that the Code of Conduct on Mortgage Arrears (CCMA) is a key part of the Central Bank’s mortgage arrears framework. It is designed to provide appropriate and effective consumer protection measures and to ensure that borrowers are treated in a fair and transparent manner. The Central Bank first published the CCMA in February 2009. It set out rules for lenders when dealing with borrowers in arrears with their mortgage payments. The current CCMA, which came into effect on 1 January 2011, took account of the recommendations of the Government Expert Group on Mortgage Arrears and further strengthened protections for borrowers in mortgage repayment difficulty by setting out the mortgage arrears resolution process (MARP).
The MARP is a five-step process which requires lenders to: 1) communicate with borrowers; 2) obtain financial information using a standard financial statement (SFS); 3) complete an assessment of the borrowers case; 4) consider options to resolve the arrears; 5) consider appeals. As per the CCMA, lenders must draw up and implement procedures for dealing with borrowers covered by the CCMA. These procedures must, inter alia, set out how the lender will implement the 5 steps of the MARP. The CCMA along with clarifications that the Central Bank has issued can be found at: http://www.centralbank.ie/regulation/processes/consumer-protection-code/Pages/codes-of-conduct.aspx.
171. Deputy Brendan Griffin asked the Minister for Finance when he expects bankers will take a pay cut as per the Mercer report; and if he will make a statement on the matter. [25444/13]
View answer183. Deputy Pearse Doherty asked the Minister for Finance further to Parliamentary Questions Nos.117, 188, 189, 190, 191 and 192, of 21 May 2013, in which he stated it would not be appropriate or realistic to specify a timeframe for the savings to be delivered in bankers' pay, if he will provide a timeframe in which he expects the required savings to be delivered from banks, for example, within three months, within six months, by the end of the year or by the middle of next year; if he will indicate whether he intends the 6% to 10% savings to be once-off savings or if there will be further savings next year; and his views on whether there is a dual approach being applied to savings in the public sector, which have clear timeframes and deadlines set upon them for delivery, and savings in the State-supported banking sector, in which he appears willing to allow the banks to set their own deadlines and timeframes. [25550/13]
View answer194. Deputy Pearse Doherty asked the Minister for Finance with regard to each of the responses received from banks to the Mercer report, if he will outline the way their proposals would cut total remuneration in each pay grade, and the proportion of proposed cuts in each bank to those earning each of less than €100,000, between €100,000 and €200,000, between €200,000 and €300,000, between €300,000 and €400,000 and more than €400,000. [25657/13]
View answerI propose to take Questions Nos. 171, 183 and 194 together.
As I stated in earlier replies to Parliamentary Questions on this matter I can confirm that the three State supported banks responded with their individual strategies, designed to achieve the required savings, by the due date of 30 April as requested by the Government in response to the Review of Remuneration Practices & Frameworks at the Covered Institutions. I was not prescriptive in how this was to be achieved respecting their differing State ownership and investment and paths to profitability.
It is not possible at this stage to reveal precise individual details bar what has been put into the public domain. I can confirm that all three institutions have put forward pension changes to varying degrees as part of their respective overall responses.
As I have said previously I am constrained as to what I can say presently due to commercial sensitivities and perhaps, more critical at this stage, industrial relations concerns as the normal protocols continue and need to be respected and observed by all parties. This is something I have advocated throughout this process. I am anxious, therefore, that all the participants in these discussions are given space and time to conduct these critical negotiations.
The Government readily acknowledges the sacrifices and changes made by bank employees to date at all levels and recognises that this has been achieved without major industrial unrest in what is a critically important sector. Therefore, I would encourage all sides to engage in these discussions proactively through the appropriate forums in view of the serious and critical consequences for all concerned.
At this stage, it would not be appropriate or realistic to specify a timeframe for the savings to be delivered. However, in view of the fact that the three institutions continue to be loss making the timely delivery of such savings which will have an ongoing impact on the cost base is critical to their viability, the availability of credit to the economy and to the future employment prospects of their employees.
172. Deputy Maureen O'Sullivan asked the Minister for Finance the amount of corporate taxes that have been paid to the Exchequer by all alcohol producers in each of the past five years; and the highest percentage, the average percentage and the lowest percentage of corporation tax paid by any individual alcohol producer in each of the past five years. [25448/13]
View answerI am informed by the Revenue Commissioners that companies operating in Ireland are chargeable to corporation tax at the 12½ per cent rate on the profits that are generated from their trading activities here. The 10 per cent corporation tax rate for profits from manufacturing expired at the end of 2010 and the 12½ per cent rate now applies to such profits. A higher 25 per cent rate applies in respect of investment, rental and other non-trading profits, as well as certain petroleum, mining and land dealing activities, while chargeable capital gains are taxable at the capital gains tax rate of 33 per cent. As it is not clear what the percentages requested by the Deputy are by reference to, the percentage of total Corporation Tax paid by alcohol producers for each year are set out as follows:
|
Corporation Tax |
2006 |
2007 |
2008 |
2009 |
2010 |
|
CT paid by alcohol producers €m |
94 |
113 |
89 |
64 |
64 |
|
Total CT Paid €m |
6,685 |
6,393 |
5,072 |
3,890 |
3,944 |
|
Amounts of CT paid by alcohol producers as % of amounts of total CT paid €m |
1.4% |
1.8% |
1.8% |
1.6% |
1.6% |
Money figures in the table are rounded to the nearest million.
The sector identifier used on the tax records is based on the 4 digit “NACE code (currently Rev. 2)” which is an internationally recognised economic activity code system. The NACE codes are not essential for the assessment and collection of taxes and duties and the correct allocation and maintenance of these codes is subject to the limit of available resources. NACE code classifications on tax records are compiled by reference to the primary area of economic activity reported by individual and corporate taxpayers on their own behalf and the taxes collected are allocated to those codes without reference to the precise economic activity which generated them.
While the accuracy of the NACE codes on tax records is sufficient to underpin broad sector-based analyses there will undoubtedly be some inaccuracies at individual level. This should be borne in mind when considering the information provided. The sector identified for this reply represents the closest equivalents in the NACE code system to the sector mentioned in the question.
