asked the Minister for Finance the number of discretionary trusts registered with the Revenue Commissioners and the tax yield which would have accrued in a full year had the proposed tax provisions of the January budget 1982 been applied to them.
Written Answers. - Discretionary Trusts.
203.
A register of discretionary trusts is not kept by the Revenue Commissioners for the purposes of capital taxation since trusts as such are not liable to a tax on capital. The only statistical information available to the Commissioners in regard to these trusts is in respect of the years 1975 to 1977 when wealth tax was in operation and applied to discretionary trusts. The number of such discretionary trusts ranged from 1,615 in 1975 to 1,316 in 1977.
It is estimated that the provisions proposed in the January 1982 budget in regard to discretionary trusts would have yielded £4 million in 1982 and £2½ million in 1983.