Wednesday, 10 July 2013

Questions (99)

Stephen Donnelly

Question:

99. Deputy Stephen S. Donnelly asked the Minister for Finance the total revenue raised for the Exchequer through Deposit Interest Retention Tax for the year 2013 and the expected yield of this tax for 2014 if there is no change to the rate charged; and if he will make a statement on the matter. [33876/13]

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Written answers (Question to Finance)

As the Deputy will be aware, the DIRT rate was increased by 3 per cent in Budget 2013. The most recently published fiscal forecast was contained in the SPU in April. The DIRT forecast underpinning the 2013 projection was c. €650m. If there is no change in the applicable DIRT rate, the estimated yield in 2014 is c. €675m, which includes carryover from the Budget 2013 measure. 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.