Written Answers Nos. 60 - 68
60. Deputy Michael McGrath asked the Minister for Finance the number of persons in receipt of the incapacitated child tax credit for each year since 2010; the detail and nature of the incapacity of the qualifying child; and if he will make a statement on the matter. [14608/17]
View answer61. Deputy Michael McGrath asked the Minister for Finance the number of applications received for the incapacitated child tax credit for each year since 2010; the number approved and rejected respectively, in tabular form; and if he will make a statement on the matter. [14609/17]
View answerI propose to take Questions Nos. 60 and 61 together.
The legislation governing entitlement to the incapacitated child tax credit is contained in section 465 of the Taxes Consolidation Act 1997.
The legislation provides that an individual is entitled to the tax credit for a year of assessment if he or she proves that at any time during the year of assessment, he or she has a child who is under 18 years of age and is permanently incapacitated by reason of mental or physical infirmity, or if over the age of 18 years at the beginning of the year, is permanently incapacitated from maintaining himself/herself and had become so permanently incapacitated either before reaching 21 years of age or after that age while receiving full-time instruction at any university, college, school or other educational establishment.
A child under 18 is regarded as permanently incapacitated by reason of mental or physical infirmity only if that infirmity is such that, if the child were over 18, there would be a reasonable expectation that he/she would be incapacitated from maintaining himself/herself.
I am advised by Revenue that a Costs of Tax Expenditures Table is available on the Revenue Statistics webpage at http://www.revenue.ie/en/about/statistics/costs-expenditures.html. The information provides an annual breakdown of the cost to the Exchequer and the associated numbers for the "Additional Credit for Incapacitated Child" for the years 2004 to 2014, the most recent year for which complete data are available. Updates will be published in due course when data for more recent years become available.
I am advised by Revenue that it does not hold information that would be readily accessible on the nature of the relevant incapacities, nor are there statistics available in respect of the number of applications received for the incapacitated child tax credit that were unsuccessful.
62. Deputy Pearse Doherty asked the Minister for Finance the number of persons with taxable income of over €100,000, €150,000 and €170,000 per annum respectively. [14623/17]
View answerI am advised by Revenue that the Revenue Statistics webpage contains detailed information on income distribution statistics, which can also be accessed directly at http://www.cso.ie/px/pxeirestat/pssn/rv01/homepagefiles/rv01_statbank.asp.
The available information in relation to the numbers of persons by taxable income is under the 'Income Tax and Corporation Tax Distribution Statistics' heading in Table 'RVA02: Distribution of Income Tax by Range of Taxable Income, Marital Status, Year and Statistic'. These statistics are for the years 2004-2014, the latest year for which data are currently available.
63. Deputy Pearse Doherty asked the Minister for Finance the number of companies that have received derogations (details supplied); the number of jobs this equates to; the way these derogations are supervised; and if he will make a statement on the matter. [14624/17]
View answerI am informed by the Central Bank that under various European and Irish regulations, Fund Service Providers are permitted to outsource/delegate activities.
On this basis, derogations are not required in order for work to be performed in other jurisdictions on behalf of Irish Fund Service Providers, so this information is not collected.
The Central Bank informs me that it regularly reviews the controls and procedures in place surrounding these outsourcing/delegating arrangements.
It should be noted that the Irish Financial Services sector includes significant employment in outsourced financial services so the existing regulatory environment is important to the State's economy.
If the Deputy is seeking information on employment commitments made to State Enterprise Agencies, this question is best directed to the Minister for Jobs, Enterprise and Innovation.
64. Deputy Pearse Doherty asked the Minister for Finance the expected revenue that would be raised by USC in the year 2021 based on a no-policy-change basis and the relevant economic forecasts; and if he will make a statement on the matter. [14646/17]
View answerThe most recent economic and budgetary forecasts prepared by my Department were published as part of Budget 2017. On that basis, and assuming a no policy change, which does not take account of the allocation of fiscal space beyond T+1, the expected Universal Social Charge (USC) yield would be in the region of €5.2 billion in 2021. This expected increase in USC yield is driven by the projected rise in wage and employment growth over the forecast horizon.
Finally, as the Deputy will appreciate these figures are expected to change as part of the upcoming Stability and Programme Update, in April this year, which will incorporate the most up-to-date macro-economic data.
65. Deputy Gerry Adams asked the Minister for Finance the number of accounts in County Louth affected by the removal of their tracker mortgages; and if he will make a statement on the matter. [14686/17]
View answerThe Deputy may wish to note that this morning the Central Bank of Ireland published a further update report on the Examination of Tracker Mortgage Related Issues and that this is available on its website www.centralbank.ie. This is the latest in a series of status updates since the examination commenced and sets out the progress being made by lenders in completing the review. However, the Central Bank have advised me that it does not, in the context of the Tracker Mortgage Examination, publish breakdowns of the figures affected by county.
66. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 128 of 31 January 2017, the detail of the recent engagement the Irish authorities have had with the Brazilian Federal Revenue Service on the inclusion of Ireland on their tax blacklist; if the promised technical delegation has travelled to Brazil to discuss the issue with the authorities there; and if he will make a statement on the matter. [14701/17]
View answerA technical delegation travelled to Brazil recently to meet with the Brazilian Federal Revenue Service to discuss the inclusion of Ireland on the Brazilian list. The meeting provided the opportunity for officials to discuss the issue in the context of Ireland's request to be removed from the list and allowed Irish officials to provide further information on Ireland's transparent and robust corporate tax regime. Technical engagement with the Brazilian Federal Revenue Service is continuing and no final decision on Ireland's request has been made at this stage.
67. Deputy Michael McGrath asked the Minister for Finance the yield from the exit tax on life assurance in 2016; the projected yield in 2017; and if he will make a statement on the matter. [14702/17]
View answer68. Deputy Michael McGrath asked the Minister for Finance the yield from the 1% levy on life assurance products in 2016; the projected yield in 2017; and if he will make a statement on the matter. [14703/17]
View answerI propose to take Questions Nos. 67 and 68 together.
I am advised by Revenue that the yield from the exit tax on life assurance was in the order of €228 million in 2016. The projected yield in 2017 is €238 million.
The yield from the 1% Stamp Duty levy on certain life assurance premiums was €21.4m in 2016. The projected yield for 2017 is €25.4m.
