asked the Minister for Finance in respect of the last year for which figures are available, the amount of (1) corporation profits tax and (2) any levy, where appropriate, contributed to the Exchequer by (i) the associated and non-associated banks, (ii) insurance companies, (iii) assurance companies, (iv) pension funds, (v) building societies, (vi) multinational Irish located, (vii) national manufacturing companies, (viii) service companies and (ix) other companies; and the percentage, in each case, which this represents of (a) corporation profits tax and (b) total taxation collected in that year.
Written Answers. - Corporation Tax Receipts.
85.
Statistical records of corporation tax payments by sector are not maintained to enable the precise information requested by the Deputy to be given. However, from the latest relevant statistics which are available in relation to the sectoral breakdown of corporation tax receipts the information requested is tentatively estimated as follows:
Corporation tax and stamp duty levies paid in 1987
|
Net receipt in 1987¹ |
Percentage of total corporation tax receipt |
percentage of total taxation |
|
|
£m |
% |
% |
|
|
Manufacturing |
34.5 |
13.5 |
0.53 |
|
Services/entertainment |
15.3 |
6.0 |
0.24 |
|
Distribution |
131.7 |
51.5 |
2.03 |
|
Investment/rents |
11.5 |
4.5 |
0.18 |
|
Property dealing/ development |
7.7 |
3.0 |
0.12 |
|
Financial institutions |
117.0² |
45.8 |
1.80 |
|
Construction |
6.4 |
2.5 |
0.10 |
"Total taxation" is regarded as the figure of "Total Tax Revenue" for 1987 contained in the table on page 96 of the booklet "Budget 1988".
Notes:
¹The sectoral breakdown for corporation tax paid which is included in this heading is a tentative estimate and is subject to a wide margin of error.
²The figure of net receipt for financial institutions includes stamp duties receipts in 1987 for the following levies:
(a)levy on the premium income of insurance companies provided under section 92 of the Finance Act, 1982 as amended by section 49 of the Finance Act, 1987;
(b)levy on the investment income of life insurance companies provided under section 93 of the Finance Act, 1986;
(c)levy on the income of financial institutions arising from "section 84" loans provided under section 94 of the Finance Act, 1986;
(d)levy on banks provided under section 48 of the Finance Act, 1987.