Dáil Éireann Debate, Thursday - 10 December 2015
68. Deputy Lucinda Creighton asked the Minister for Finance the number of instances and transactions in which capital acquisitions tax and in which inheritance tax was payable and the value to the Exchequer of each of these taxes in 2014; and the yearly cost to the Exchequer of increasing the threshold above which inheritance tax applies from €280,000 to €500,000. [44463/15]
View answerI am advised by the Revenue Commissioners that the number of instances in which Capital Acquisitions Tax was payable in 2014 was 12,752. Of these, 11,370 were for Inheritance Tax, while the numbers paying other Capital Acquisitions Tax (primarily gift tax and discretionary trust tax) was 1,382. These figures are provisional.
General information pertaining to Capital Acquisitions tax net receipts is available on the Revenue statistical web page at http://www.revenue.ie/en/about/statistics/index.html. In particular, in relation to the Deputy's Question, a breakdown showing annual net receipts for Capital Acquisitions Tax including 2014 is available at http://www.revenue.ie/en/about/statistics/cat-receipts.pdf. Future updates will be provided in due course.
The cost in a full year of increasing the category A threshold from €280,000 to €500,000, without changes to the other thresholds, would be approximately €74 million.
