Pearse Doherty
Question:92. Deputy Pearse Doherty asked the Minister for Finance the details of the net effect of measures carried over for a year as a result of budget 2016, in tabular form. [13885/16]
View answerWednesday, 1 June 2016
Questions (92)
Written answers
I assume the Deputy is referring to the carryover effect of Budget 2016 tax measures. It was estimated that there would be a total negative carryover into 2017 as a result of Budget 2016 tax measures in the region of €192 million. It should be noted that while the following table sets out the carryover effect of Budget 2016 measures, it also includes measures announced in Budget 2016, which will take effect in 2017, such as the extension of the levy of financial institutions.
|
Tax-Head |
Carryover effect €m |
|
Income Tax |
-292 |
|
PRSI |
-3 |
|
Corporation Tax |
-37 |
|
Capital Gains Tax |
-2 |
|
Capital Acquisition Tax |
-7 |
|
Stamp Duty |
+149 |
|
Total |
-192 |
I should point out that the exact impacts of carryover will be reviewed as part of the normal Budgetary process, as there are a lot of moving parts to be considered, such as economic growth, take up of various schemes and specific tax relevant factors, which could impact on the expected return from the measures.