Tax Code

Tuesday, 15 May 2018

Questions (170, 173)

Pearse Doherty

Question:

170. Deputy Pearse Doherty asked the Minister for Finance the estimated revenue that would be raised by reducing the tax free lump sum limit in circumstances (details supplied). [21197/18]

View answer

Pearse Doherty

Question:

173. Deputy Pearse Doherty asked the Minister for Finance the estimated revenue that would be raised by reducing the tax free lump sum limit from €200,000 to €150,000. [21200/18]

View answer

Written answers

Minister for Finance

I propose to take Questions Nos. 170 and 173 together.

I am advised by Revenue that as there is no requirement to include data in tax returns in relation to tax free lumps of less than €200,000 (the current life-time limit on tax-free retirement lump sums), they have not been able to quantify the estimated yield for the Exchequer of the reduction of the tax free lump sum entitlement to the amounts outlined by the Deputy.