Dáil Éireann Debate, Wednesday - 13 July 2022
133. Deputy Ged Nash asked the Minister for Finance the revenue raised by the domicile levy for the past three years in tabular form; the estimated revenue that would be raised from doubling the domicile levy from €200,000 to €400,000 under the existing criteria; and if he will make a statement on the matter. [38627/22]
View answerThe Domicile Levy was introduced in the 2010 Finance Act and is payable on a self-assessment basis on or before 31 October in the year following the valuation date. For example, the due date in respect of 2019 was 31 October 2020. The valuation date is 31 December each year.
Revenue have advised me of the amounts collected from the domicile levy for the years 2018, 2019 and 2020 and these are outlined in the table below. Data for the 2021 tax year are still being processed.
|
Year |
Amount Collected €m |
|
2020 |
2.7 |
|
2019 |
1.9 |
|
2018 |
1.5 |
In relation to increasing the levy from €200,000 to €400,000, I am advised by Revenue that the amount of additional levy to be paid would be contingent on the amount of Irish income tax paid by each taxpayer and available to offset against the additional levy. As this will vary according to the level of income generated by each taxpayer, there is no reliable basis on which to provide an estimate of the additional revenue that would be raised by increasing the levy in the manner outlined by the Deputy.
