Martin Browne
Question:188. Deputy Martin Browne asked the Minister for Finance the yield from the life assurance exit tax in 2019 and 2020; and the forecasted yield in 2021. [9775/21]
View answerWednesday, 24 February 2021
Questions (188)
Written answers
I am informed by the Revenue Commissioners that the yield from Life Assurance Exit Tax was €128 million in 2019 and the provisional yield for 2020 is €124 million.
The forecasts published by my Department as part of Budget 2021 forecast a yield of €125 million for Life Assurance Exit Tax in 2021. However, the Deputy should be aware that these forecasts were based on the now outdated assumptions of a ‘no trade deal’ Brexit and there being no widely available Covid-19 vaccine this year. My Department will update the full set of fiscal projections as part of the Stability Programme Update in April.
For ease of reference, I have provided the figures in tabular form below for the Deputy as well.
|
Year |
Yield from Life Assurance Exit Tax |
|
2019 |
€128 million |
|
2020 |
€124 million (provisional figure) |
|
2021 |
€125 million (forecast – to be updated in SPU April 2021) |