Dáil Éireann Debate, Thursday - 18 December 2014
118. Deputy Michael McGrath asked the Minister for Finance the amount of DIRT tax deducted from credit union accounts in each year from 2010 to date in 2014; and if he will make a statement on the matter. [49286/14]
View answerI am advised by Revenue that Deposit Interest Retention Tax (DIRT) is paid on a quarterly basis by the relevant financial institutions, including credit unions. The payment due dates are 21 April, 21 July and 21 October of the tax year in question with any balancing payments due by 15 January of the following year.
In most instances credit unions pay the bulk of the DIRT liability as part of the January balancing payment. This is due to the timing of annual meetings that determine the dividends and consequential DIRT liabilities.
The following table sets out the amount of DIRT paid by credit unions to Revenue for each year from 2010 to 2014 (at 15 December).
|
Year |
Amount Paid |
|
2010 |
€11.7m |
|
2011 |
€11.4m |
|
2012 |
€16.0m |
|
2013 |
€15.1m |
|
2014 |
€3.6m |
