asked the Minister for Finance if he will make a statement showing the yield from capital taxation capital gains tax, wealth tax, death duties and capital acquisition tax in the years 1976, 1977 and for each of the last two years for which figures are available; and if he will make a statement on the trend indicated.
Written Answers. - Tax Yields.
The information requested by the Deputy is as follows:
Net Receipts
Year |
Capital Gains Tax |
Wealth Tax |
Estate, etc., |
Capital Acquisitions Tax |
Total |
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
|
1976 |
430 |
6,489 |
8,771 |
434 |
16,124 |
1977 |
1,470 |
5,806 |
6,675 |
2,932 |
16,883 |
1986 |
10,512 |
94 |
327 |
21,049 |
31,982 |
1987 (P) |
12,549 |
29 |
490 |
24,807 |
37,875 |
(P)=Provisional, subject to revision.
It will be noted that the above figures do not take account of receipts from the residential property tax which are normally classified under the heading capital taxes.
The yield from capital taxation, as defined in the question, has more than doubled over the period. The figures are not, however, directly comparable as there have been a number of fundamental changes in the area of capital taxation which are reflected in the breakdown of the yield by individual tax.