Dáil Éireann Debate, Tuesday - 29 September 2015
279. Deputy Thomas P. Broughan asked the Minister for Finance the amount of tax revenue that would be lost if the capital gains tax rate was lowered to 20%; the amount of additional tax revenue that would be gained if it was restored to 40%; and if he will make a statement on the matter. [33297/15]
View answerI am advised by the Revenue Commissioners that a wide range of statistical information is available on the Commissioners' Statistics webpage: http://www.revenue.ie/en/about/statistics/index.html. In particular, in relation to the Deputy's Question, estimates for changing rate of CGT are included in the Pre-Budget 2016 Ready Reckoner: http://www.revenue.ie/en/about/statistics/ready-reckoner.pdf. While the Ready Reckoner does not show the specific costings requested by the Deputy, the changes can be estimated broadly on a pro-rata (or straight-line) basis with those displayed in the Reckoner.
All estimates shown in the Ready Reckoner are provisional and subject to revision. These estimates are based upon an assumption that there would be no behavioural impact of these changes. In addition, the costs shown from decreases in taxation on assets relating to property are subject to movements in the value of such assets.
