Dáil Éireann Debate, Tuesday - 19 July 2016
214. Deputy Michael McGrath asked the Minister for Finance the amount raised from the 3% stamp duty and 2% levy, respectively, on insurance policies in each of the years from 2010 to 2015 in tabular form; and if he will make a statement on the matter. [22635/16]
View answerI am informed by Revenue that the following table sets out the total amounts collected in respect of non-life insurance levy for the years requested by the Deputy.
Section 125 of the Stamp Duties Consolidation Act imposes a levy of 3% on the gross amount received by an insurer in respect of certain non-life insurance premiums. The exceptions are re-insurance, voluntary health insurance, marine, aviation and transit insurance, export credit insurance and certain dental insurance contracts. The 3% levy applies to premiums received on or after 1 June 2009 in respect of offers of insurance or notices of renewal of insurance issued by an insurer on or after 8 April 2009. In relation to notices of renewal or offers of insurance issued prior to 8 April 2009, a 2% levy applies. The amounts collected at the 3 per cent rate are not separately identifiable from those collected at the 2 per cent rate.
|
- |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
|
€m |
€m |
€m |
€m |
€m |
€m |
|
|
Non-Life Insurance Levy |
109.5 |
106.4 |
104.2 |
98.7 |
103.4 |
108.0 |
