Dáil Éireann Debate, Thursday - 13 July 2017
133. Deputy Michael McGrath asked the Minister for Finance the interest the Revenue Commissioners levied and collected from the late payment of tax liabilities, by tax category, in each of the years 2012 to 2016 and to date in 2017; and if he will make a statement on the matter. [33768/17]
View answerI am advised by Revenue that interest charged on the late payment of tax is a statutory charge legislated for by the Oireachtas and provided for in Section 1080 of the Taxes Consolidation Act 1997. Revenue is obliged to factor this charge into all of its compliance intervention programmes.
I am satisfied that collection of interest by Revenue is a key element in reflecting the value of money forgone by the Exchequer where a taxpayer does not pay what is due on time and is also vital in supporting the efforts of the vast majority of taxpayers who are voluntarily and fully compliant.
The interest charged and collected from 2012 to date is set out in the following table.
|
Interest Charged |
||||||
|
2012 |
2013 |
2014 |
2015 |
2016 |
June 2017 YTD |
|
|
PAYE |
€6.13m |
€12.74m |
€15.28m |
€19.29m |
€16.54m |
€7.47m |
|
PRSI |
€1.10m |
€2.13m |
€2.24m |
€2.48m |
€4.39m |
€1.44m |
|
VAT |
€18.90m |
€19.64m |
€17.57m |
€20.80m |
€15.10m |
€8.17m |
|
INCOME TAX (Self-Employed) |
€18.17m |
€23.27m |
€27.76m |
€26.36m |
€29.28m |
€18.32m |
|
CORPORATION TAX |
€7.57m |
€14.53m |
€12.86m |
€18.27m |
€11.63m |
€4.28m |
|
CAPITAL GAINS TAX |
€5.77m |
€12.15m |
€5.62m |
€7.47m |
€5.86m |
€2.75m |
|
RELEVANT CONTRACTS TAX |
€1.47m |
€1.45m |
€0.80m |
€1.25m |
€0.52m |
€0.20m |
|
PROFESSIONAL SERVICES WITHOLDING TAX |
€0.04m |
€0.02m |
€0.01m |
€0.18m |
€0.14m |
€0.00m |
|
DEPOSIT INTEREST RETENTION TAX |
€0.00m |
€0.01m |
€0.08m |
€0.46m |
€0.02m |
€0.04m |
|
LIFE ASSURANCE EXIT TAX |
€0.06m |
€0.30m |
€0.00m |
€0.30m |
€0.06m |
€0.00m |
|
DIVIDEND WITHOLDING TAX |
€0.05m |
€0.23m |
€0.16m |
€0.13m |
€0.11m |
€0.18m |
|
ENVIRONMENTAL LEVY |
€0.02m |
€0.05m |
€0.01m |
€0.01m |
€0.01m |
€0.00m |
|
RELEVANT TAX ON SHARE OPTION |
€0.02m |
€0.18m |
€0.23m |
€0.27m |
€0.74m |
€0.42m |
|
BETTING DUTY |
€0.01m |
€0.04m |
€0.04m |
€0.01m |
€0.00m |
€0.00m |
|
STAMP DUTY |
€2.36m |
€3.06m |
€2.74m |
€2.06m |
€3.51m |
€1.22m |
|
CAPITAL ACQUISITIONS TAX |
€1.25m |
€2.55m |
€2.05m |
€1.41m |
€3.07m |
€1.36m |
|
INVESTMENT UNDERTAKING TAX |
€0.01m |
€0.00m |
€0.07m |
€0.00m |
€0.02m |
€0.07m |
|
LOCAL PROPERTY TAX |
- |
€0.00m |
€0.01m |
€0.01m |
€0.04m |
€0.04m |
|
DOMICILE LEVY |
- |
- |
- |
- |
€0.02m |
€0.11m |
|
Mineral Oil Tax |
- |
- |
- |
- |
- |
€0.63m |
|
TOTAL |
€62.93m |
€92.35m |
€87.53m |
€100.76m |
€91.06m |
€46.70m |
