Tax Yield

Questions (90)

Stephen Donnelly

Question:

90. Deputy Stephen S. Donnelly asked the Minister for Finance the total amount of revenue expected to be raised by Capital Gains Tax for the year 2014 if there were no changes made to the rates and criteria for chargeable assets; and if he will make a statement on the matter. [33867/13]

View answer

Written answers (Question to Finance)

The most recently published fiscal forecast was contained in the SPU in April. The CGT estimate underpinning the 2013 forecast was c. €360m. If there is no change in the CGT rate or criteria, the estimate for 2014, as per the SPU, is c. €370m. 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.

Tax Reliefs Availability

Questions (91)

Stephen Donnelly

Question:

91. Deputy Stephen S. Donnelly asked the Minister for Finance the total cost of all reliefs that can be claimed in respect of Capital Gains Tax and if he will provide a tabular breakdown of the value of each relief by category for 2013 and the expected cost for 2014 if there were no changes to the rates and criteria for chargeable assets or eligibility for reliefs; and if he will make a statement on the matter. [33868/13]

View answer

Written answers (Question to Finance)

I am informed by the Revenue Commissioners that the main reliefs/exemptions that can be claimed in respect of Capital Gains Tax are as follows:

Appropriation to and from stock in trade (section 596 TCA 1997)

Rollover relief (section 597 TCA 1997) [now only available in limited circumstances]

Retirement relief (sections 598/599 TCA 1997)

Relief on dissolution of farming partnerships (section 598A TCA 1997)

Transfer of business to a company (section 600 TCA 1997)

Replacement of qualifying premises (section 600A TCA 1997)

Personal exemption (section 601 TCA 1997)

Chattel exemption (section 602 TCA 1997)

Wasting chattels (section 603 TCA 1997)

Transfer of site from parent to child (section 603A TCA 1997)

Principal private residence relief (section 604 TCA 1997)

Relief for certain disposals of land and buildings (section 604A TCA 1997)

Disposals to authority possessing compulsory powers (section 605 TCA 1997)

The reliefs for which claims made can currently be identified in tax returns are those that are entered to the Form 11 personal income tax returns filed by non-PAYE taxpayers for 2011, the latest year for which this information is available. These are Disposal of Principal Private Residence, Retirement relief - within the Family, Retirement Relief – outside the Family, Disposal of a site to a child and Other Reliefs (to be specified). Claimants for the Personal Exemption are also identified.

In the case of the Personal Exemption it is tentatively estimated that the Exchequer cost in terms of tax forgone in respect of claimants who filed a Form 11 tax return for 2011 was in the region of €4 million. Claims for the other identified reliefs require the entry to the tax return of the consideration value and not the actual capital gain. There is therefore no basis on which a nominal gain could be identified and on which an estimate of Exchequer cost of the tax relief could be calculated.

It should be noted that any corresponding data returned by PAYE taxpayers in the income tax return (Form 12) is not captured in the Revenue computer system. However, any PAYE taxpayer with non-PAYE income greater than €3,174 is required to complete an income tax return (Form 11).

Tax Yield

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]

View answer

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.

Tax Reliefs Availability

Questions (93)

Stephen Donnelly

Question:

93. Deputy Stephen S. Donnelly asked the Minister for Finance if he will provide a full list of all possible exemptions and reliefs applicable to capital acquisitions tax and to provide, in tabular form, the cost of each said exemptions and reliefs in 2013 and the expected cost in 2014 if there are no changes to the rates of capital acquisitions tax and the eligibility criteria of the applicable exemptions and reliefs; and if he will make a statement on the matter. [33870/13]

View answer

Written answers (Question to Finance)

Given the various exemptions and reliefs from Capital Acquisitions Tax and the scale of the information on them being sought by the Deputy it is not possible to answer the question in the time available. I will contact the Deputy directly with a reply.

Tax Yield

Questions (94)

Stephen Donnelly

Question:

94. Deputy Stephen S. Donnelly asked the Minister for Finance the total revenue raised for the Exchequer in 2013 and the revenue expected to be raised in 2014 from the Discretionary Trust Tax and to show the split between the once off charge for assets placed in a discretionary trust and the annual charge for assets placed in a discretionary trust; and if he will make a statement on the matter. [33871/13]

View answer

Written answers (Question to Finance)

It is not possible to answer the Deputy’s question on Discretionary Trust Tax in the time available. I will contact the Deputy directly with a reply.

Tax Yield

Questions (95)

Stephen Donnelly

Question:

95. Deputy Stephen S. Donnelly asked the Minister for Finance the total revenue raised for the Exchequer through Stamp Duty for 2013 and the revenue expected to be raised through 2014; and if he will make a statement on the matter. [33872/13]

View answer

Written answers (Question to Finance)

The most recently published fiscal forecast was contained in the SPU in April. The stamp duty estimate underpinning the 2013 forecast was €1,180m. If there was no change to stamp duty rates, estimated stamp duty yield in 2014, consistent with the SPU, would be €1,050m. The Deputy should be aware that €170m of the 2013 forecast relates to the Health Insurance Levy payable in January 2013 in respect of health insurance policies issued in the last five months of 2012. The substantial fall in 2014 is accounted for by the fact that from May 2013 the Health Insurance Levy no longer accrues to the Exchequer but is paid into the Risk Equalisation Fund. 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.

Tax Yield

Questions (96)

Stephen Donnelly

Question:

96. Deputy Stephen S. Donnelly asked the Minister for Finance if he will provide a breakdown, in tabular form, of the revenue raised for 2013 and the revenue expected to be raised for 2014 from each taxable asset liable for Stamp Duty; and if he will make a statement on the matter. [33873/13]

View answer

Written answers (Question to Finance)

The most recently published fiscal forecast was contained in the SPU in April. The stamp duty estimate underpinning the 2013 forecast was €1,180m. If there was no change to stamp duty rates, estimated stamp duty yield in 2014, consistent with the SPU, would be €1,050m. The Deputy should be aware that €170m of the 2013 forecast relates to the Health Insurance Levy payable in January 2013 in respect of health insurance policies issued in the last five months of 2012. The substantial fall in 2014 is accounted for by the fact that from May 2013 the Health Insurance Levy no longer accrues to the Exchequer but is paid into the Risk Equalisation Fund. 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.

€m

2013

2014

Other

530

575

Health Insurance Levy

170

0

Pension Levy

480

480

Total

1180

1050

Note: Figures may not exactly sum due to rounding

Tax Reliefs Availability

Questions (97)

Stephen Donnelly

Question:

97. Deputy Stephen S. Donnelly asked the Minister for Finance if he will provide a full list of all exemptions and reliefs that are applicable to stamp duty and a breakdown, in tabular form, of the cost to the Exchequer for 2013 and the expected cost for 2014 for each of the above listed exemptions and reliefs; and if he will make a statement on the matter. [33874/13]

View answer

Written answers (Question to Finance)

I am advised by the Revenue Commissioners that given the variety of exemptions and reliefs that apply to Stamp Duty it is not possible to answer the question in the time available. I will contact the Deputy directly with a reply.

Tax Yield

Questions (98)

Stephen Donnelly

Question:

98. Deputy Stephen S. Donnelly asked the Minister for Finance if he will provide, in tabular form, the expected revenue that would be generated for the Exchequer in 2014 through Value Added Tax at each percentage point from 0 to 35 for each of the separate categories of produce that Value Added Tax is charged on; and if he will make a statement on the matter. [33875/13]

View answer

Written answers (Question to Finance)

I am informed by the Revenue Commissioners that the full year cost or yield to the Exchequer from increasing or reducing the 9%, 13.5% and 23% rates, are provisionally estimated as follows. These figures are estimates in terms of 2013 expected yields. Corresponding estimates for 2014 are not yet available.

VAT rate

Estimated cost/yield from 1% change

9%

+/- €125m

13.5%

+/- €230m

23%

+/- €250m

A pro-rata calculation may be applied to these figures to arrive at the impacts of greater or lesser increases or decreases to the respective rates.

The Deputy will be aware that Irish VAT law is governed by the EU VAT Directive, and any changes made to the VAT rates must be guided by EU VAT law. In this context, where the zero rate of VAT is increased, children’s shoes and clothes could only be increased to the standard rate (23%) while other goods at the zero rate could be increased to a reduced rate of 5% or more, provided only two reduced VAT rates are in operation. As such, there are no figures provided for a 1% increase on the zero rate. In addition, most items applying currently at the 13.5% cannot be reduced below 12%.

As stated earlier, the costings in the table relation to the 9% VAT rate relates to 2013 figures. From 2014 all goods and services applying at this rate are scheduled to revert to 13.5%, and so any change that would result in a rate lower than 13.5% on this activity would result in a cost to the Exchequer. However, costings in relation to the items currently at the 9% rate for 2014 are not yet available. Any decision on a deviation from this policy will be taken in the context of Budget 2014.

Tax Yield

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]

View answer

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.

Tax Yield

Questions (100)

Stephen Donnelly

Question:

100. Deputy Stephen S. Donnelly asked the Minister for Finance the total amount that would be raised for 2014 if Deposit Interest Retention Tax was applicable to interests on deposits where the beneficial owner is a non-resident; and if he will make a statement on the matter. [33877/13]

View answer

Written answers (Question to Finance)

I am very conscious that when a court closes in a constituency it is a cause of concern to Members of this House. I assure Members that I am informed by the Courts Service that it genuinely engages in consultation with all interests, including the legal profession, the Garda and other relevant bodies across the board in particular towns that might be affected by court closures, and that it looks at the alternatives. These decisions are ultimately made by the Courts Service independent of me as Minister. It is part of the independence of the courts. The Courts Service has a separate function in this context but it does listen. I am aware of the fact that it has done substantial work looking at courts right across the country. There have been cases where the future of a courthouse has been considered and having engaged in the consultative process it has remained open, rightly so. A real consultative process is undertaken and an assessment by the Courts Service as to how to proceed. There is also an important resources issue. If it is uneconomical to maintain a court in a particular area and there is only a limited number of court proceedings coming before it, it does make sense to consolidate the courts system. I know the Courts Service will continue to deal with that.

I am conscious that a number of Deputies expressed concern about the area of domestic violence. Reforms were introduced in the law in this area in the Civil Law (Miscellaneous Provisions) Bill in 2011. As part of the programme for Government, we are looking at producing a consolidated domestic violence Act with additional reforms contained in it. That will not happen in 2013. We have a substantial legislative agenda but I hope we will see that work undertaken to a substantial extent in 2014, leading to the publication of a new Bill. I thank all of those who contributed to the debate. I look forward to Committee Stage.

Tax Yield

Questions (101)

Stephen Donnelly

Question:

101. Deputy Stephen S. Donnelly asked the Minister for Finance the total amount of revenue raised for the Exchequer from vehicle registration tax for 2013 and the revenue expected to be raised for 2014 if there is no change to the rates and there is no change to the vehicle categories and to provide, in tabular form, a breakdown of the revenue and expected revenue for 2013 and 2014 respectively by category of vehicle; and if he will make a statement on the matter. [33881/13]

View answer

Written answers (Question to Finance)

The most recently published fiscal forecast was contained in the SPU in April. The VRT estimate underpinning the 2013 excise forecast was c. €480m. If there is no change in the VRT rate, the estimate for 2014, as per the SPU, is c. €490m. 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.

It is not possible at this time provided to give a detailed breakdown of expected revenue per category of vehicle. However, the Deputy might like to know the breakdown of VRT by category for the previous four years.

New

2009

2010

2011

2012

Cars

 A1

16,373,166

66,604,753

88,854,953

119,390,303

 A2

76,322,051

108,562,065

133,854,115

107,053,328

 A3

53,138,901

47,502,223

27,202,265

20,220,250

 A4

38,220,314

31,518,427

18,474,002

13,000,405

 A5

28,911,030

16,916,079

11,022,671

9,546,576

 A6

15,603,672

9,295,367

8,606,705

9,187,720

 A7

5,826,393

6,481,364

4,705,419

1,104,780

 Cat B - Car Derived Vans

2,694,107

2,283,993

3,444,872

6,833,348

 Cat C - Commercial  Vehs

617,550

713,513

1,609,405

2,610,143

 Cat M - Motorcycles

1,273,160

912,019

749,055

645,310

 Total

238,980,344

290,789,803

298,523,461

289,592,163

Used

2009

2010

2011

2012

 Cars

 A1

3,093,608

5,918,644

9,339,385

11,289,045

 A2

24,556,996

22,717,951

27,598,305

32,913,929

 A3

41,197,776

27,683,401

25,687,500

22,913,638

 A4

25,720,073

14,427,506

11,844,292

8,868,979

 A5

17,351,800

8,428,912

5,593,867

4,800,477

 A6

10,585,284

5,946,563

3,820,044

3,723,100

 A7

8,611,877

5,009,664

3,039,494

2,218,970

 Cat B - Car Derived Vans

2,998,088

1,090,668

1,088,015

1,220,808

 Cat C - Commercial  Vehs

1,030,100

672,617

1,292,500

1,430,200

 Cat M - Motorcycles

1,276,956

799,458

526,883

374,512

 Total

136,422,558

92,695,384

89,830,285

89,753,658