asked the Minister for Finance if he will state in respect of 1961-62 and 1962-63 the estimated cost to the Exchequer of the twenty per cent. abatement of income tax and sur-tax on dividends of Irish companies under Section 7 of the Finance Act, 1932, as amended and extended.
Ceisteanna—Questions. Oral Answers - Cost of Tax Abatement on Dividends.
15.
The application of the provisions of Section 7 of the Finance Act, 1932, as amended, to the securities of qualifying Irish companies involves the granting of relief from Estate Duty in respect of such securities as well as the Income Tax abatement on dividends from them. Statistics are not compiled in such a manner as to show the actual cost in each year but it is estimated that the total cost to the Exchequer of these reliefs is about £200,000 at the present time.