Wednesday, 10 July 2013

Questions (92)

Stephen Donnelly

Question:

92. Deputy Stephen S. Donnelly asked the Minister for Finance the total amount of revenue expected to be raised by Capital Acquisitions Tax for the year 2014 if athere were no changes made to the rates and criteria for chargeable assets; and if he will make a statement on the matter. [33869/13]

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Written answers (Question to Finance)

The most recently published fiscal forecast was contained in the SPU in April. The Capital Acquisitions Tax (CAT) duty estimate underpinning the 2013 forecast was c. €375m. If there is no change in the CAT rate, the estimate for 2014, as per the SPU, is c. €370m. The reason for the decline is the non-recurrence of once offs which are scheduled to accrue in 2013. It should be pointed out that these figures may be comprehensively revised in the context of the White Paper and Budget 2014 as emerging fiscal and economic data are taken on board.