asked the Minister for Finance the total expected contribution to the Exchequer in 1988 from the farming sector, taking into account income tax, bovine disease and other levies, VAT refund reduction inspection fees and other payments.
Written Answers. - Farming Sector Exchequer Contribution.
49.
The estimated income tax yield from farmers in 1988 is £42 million. (1)
A breakdown of the estimated contribution by farmers to the employment and training levy, health contributions and PRSI in 1988 is not available. The total yield from all self-employed persons (including farmers) in 1988 is estimated as follows:
|
Revenue |
Health Boards (arrears) |
Total |
|
|
£m |
£m |
£m |
|
|
Employment and training levy |
4.2 |
0.5 |
4.7 |
|
Health contributions |
3.5 |
0.4 |
3.9 |
|
PRSI |
15.0 |
— |
15.0 |
(1) Income tax on farming profits is collected with Schedule D tax generally. The figure shown is an estimate of the tax paid by full time farmers together with tax paid by trader-farmers on their farming profits only.
In 1988, it is estimated that farmers will directly contribute a sum of £22 million, arising from the disease levy, in appropriations-in-aid to the Vote for Agriculture and Food. An additional £0.3 million is estimated in receipts from farm visits by staff in connection with the farm improvement programme.
The reduction in the rate of flat-rate VAT addition to farm prices from 1.7 to 1.4 per cent will yield extra estimated revenue of £7 million in 1988. The 1988 figures for health contributions and levy payments do not take account of arrears to be collected as a result of this flat-rate reduction, in the circumstances set out in the budget.
It is estimated that receipts of £1.8 million will arise directly from farmers from licence, certification and permit fees, and fees for miscellaneous services rendered.