Dáil Éireann Debate, Tuesday - 18 May 2021
303. Deputy Martin Browne asked the Minister for Finance the additional revenue that would be generated if a 40% capital gains tax rate was applied in which the person making the disposal had an annual income in excess of €250,000. [25936/21]
View answerI am advised by Revenue that the estimated revenue generated from a rate of 40% on capital gains made on disposals by individuals with income over €250,000 would be in the region of €70m per year.
This estimate is based on income and Capital Gains Tax (CGT) returns for the tax year 2018, the latest year for which full income information is available. The estimates assume no change in behaviour by individuals resulting from the increase in the tax rate and do not include any yield in respect of companies.
