Dáil Éireann Debate, Wednesday - 6 July 2016
91. Deputy Niall Collins asked the Minister for Finance the cost of changing the current rate of capital gains tax for entrepreneurs to levels (details supplied) over a calendar year; and if he will make a statement on the matter. [20003/16]
View answerI am informed by the Revenue Commissioners that, as tax returns do not currently separately identify "entrepreneurial" gains from other gains, there are no data available to accurately cost these proposed measures. However, on the basis of making various assumptions, it is tentatively estimated that the costs of the changes proposed in the Deputy's question are as shown the table. It should be noted that given the limited information available to Revenue on the nature of entrepreneurial gains, the estimates provided will vary if different assumptions are employed or new data become available. In addition, these estimates assume no behavioural change.
|
Chargeable Business Assets up to Limit of |
Estimated Cost of 15% rate - (€m) |
Estimated Cost of 10% rate - (€m) |
|
€1 million |
10 |
21 |
|
€5 million |
40 |
60 |
|
€10 million |
45 |
65 |
|
€15 million |
47 |
68 |
