Michael McGrath
Question:174. Deputy Michael McGrath asked the Minister for Finance the estimated full-year cost of reducing the effective tax rate on dividends to 32%; and if he will make a statement on the matter. [36817/18]
View answerFriday, 7 September 2018
Questions (174)
Written answers
It is assumed that the Deputy is referring to introducing a 32% flat tax rate on dividend income from Irish resident companies to replace all Income Tax, USC and PRSI currently collected.
I am advised by Revenue that based on tax returns for 2016 and the yield from Dividend Withholding Tax for the same year, a tentative estimate of the potential tax gain from imposing a flat tax rate of 32% on dividend income is in the region of €70 million.