Tax Collection Forecasts

Dáil Éireann Debate, Tuesday - 1 October 2013

Tuesday, 1 October 2013

Questions (204)

Kevin Humphreys

Question:

204. Deputy Kevin Humphreys asked the Minister for Finance the projected yield in a full year, over current rates, if stamp duty on residential property sales was increased so that it was levied at 2% on the value of sale between €500,000 and €999,999.99 and 4% on the balance over €1 million; if such a forecast uses 2013 sales as a base; and if he will make a statement on the matter. [40688/13]

Written answers

Minister for Finance

I am advised by the Revenue Commissioners that the full year yield to the Exchequer, in terms of the estimated outturn in 2013 from Stamp Duty on residential property, if the 1% rate of Stamp Duty on considerations of over €500,000 was increased to 2% would be €8.7 million; and if the 2% rate of Stamp Duty on considerations in excess of €1 million was increased to 4% would be €3.6 million.