Dáil Éireann Debate, Tuesday - 8 October 2013
178. Deputy Kevin Humphreys asked the Minister for Finance the projected additional yield in a full year if DIRT were increased from 33% to 35%, taking into account 2013 returns to date; and if he will make a statement on the matter. [42291/13]
View answerI am advised by the Revenue Commissioners that the estimated additional yield to the Exchequer from increasing the Deposit Interest Retention Tax (DIRT) rate from 33% by 2% to 35% would be of the order of €31 million in a full year. This projection assumes no significant behavioural change by depositors or a change in interest rates applied by financial institutions to savings. It should be noted that the figure given for the yield from a 2% increase in the DIRT rate is a downward revision of a figure provided in reply to a previous related question on 18 July last (ref PQ 36643/13). The revision is necessitated by a revision to the basic data becoming available in the interim.
