The information sought by the Deputy in relation to expected yields and actual outturns is available on my Department's website in respect of Capital Gains Tax (CGT) and all the other main tax heads on the following link: http://databank.finance.gov.ie/.
The following Table sets out for the years 2008 to 2013 inclusive the CGT performance against the Budget day estimated forecast in respect of the relevant year.
Year
|
Actual CGT Outturn €m
|
CGT Target €m
|
Excess/Shortfall €m
|
Excess/Shortfall %
|
2013
|
369
|
420
|
-51
|
-12.2%
|
2012
|
414
|
355
|
+59
|
+16.8%
|
2011
|
416
|
410
|
+6
|
+1.5%
|
2010
|
347
|
340
|
+7
|
+2.0%
|
2009 (s)
|
542
|
625
|
-83
|
-13.3%
|
2008
|
1,430
|
3,180
|
-1,750
|
-55.0%
|
(s) = Supplementary Budget 2009.
It should be noted that figures are rounded to the nearest million. In addition, it should be noted that the targets are the official Budget day forecasts for CGT.
Capital taxes such as CGT and stamp duties do not have as consistent a relationship with economic growth when compared to income tax and VAT. Receipts from these taxes are affected by movements in the assets markets (property and shares). Activity in asset markets is prone to more pronounced movements in volumes/prices than in the wider economy and is therefore less predictable.