asked the Minister for Finance the approximate amount of income tax, corporation profits tax, wealth tax and capital gains tax foregone, in the last year for which figures are available, in relation to organisations or institutions which enjoy charitable status with the Revenue Commissioners.
Written Answers. - Tax Exemption.
The relevant tax codes provide a general exemption in favour of charities and, accordingly, assessments are not made in respect of any income, wealth or gains from disposal of assets by these bodies. Since assessments are not made, statistics are not available which would provide the information requested by the Deputy. The only statistics available relate to the amount of income tax repaid to charities in respect of tax credits applicable to company distributions and tax deducted at source from covenants, rents, and so forth payable to charities.
In the year of assessment 1976-77, the total amount of these repayments amounted to £1.7 million, approximately.