asked the Minister for Finance the number of companies trading in 1986; the number of companies trading in 1986 assessed for corporation tax purposes; the number of companies trading in 1986 liable for outstanding corporation tax; and the number of companies trading in 1986 and receiving tax relief under (a) export sales relief (b) manufacturing companies reduced relief (c) small companies relief and (d) Shannon relief.
Written Answers - Trading Companies.
65.
Statistics are not available which would enable the precise information requested by the Deputy to be given.
The number of companies on tax records in the tax year ended 5 April 1987 was 59,000. Of these, 44,000 were assessed to corporation tax in that year and the remaining 15,000 were not assessed after an examination of their cases showed that taxable profits were unlikely to arise in respect of accounting periods ending in the year. At 31 October 1987 the number of companies with balances of tax on the Revenue record in respect of assessments raised in the year ended 5 April 1987 was 30,000. It is estimated that the number of companies from which amounts of tax, or further amounts of tax, will be collected for the year in question is of the order of 9,000. This number consists mainly of companies which have already made substantial payments on account and which will pay the balances when their final liability is determined, together with companies which have yet to make any payments.
The relevant information available in respect of the number of companies which were allowed tax relief under the headings specified is as follows:
|
Relief |
Year Ended |
Number of companies who were allowed tax relief in the year |
|
(a) Export Sales |
31 January 1987 |
574 |
|
(b) Manufacturing profits — reduced rate of corporation tax |
31 December 1986 |
6,000 (estimated) |
|
(c) Small companies — reduced rate of corporation tax |
— |
Not available |
|
(d) `Shannon' |
5 April 1987 |
26 |