Roger T. Garland
Ceist:66 Mr. Garland asked the Minister for Finance the amount of income tax and corporation tax revenue paid by the farming community in each of the last ten years.
Written Answers. - Income and Corporation Taxes.
Statistics are not available which would enable the amounts of corporation tax paid by companies on their farming profits to be given. It is thought that such amounts are negligible.
Statistics of the estimated amounts of income tax paid on farming profits for the years 1980 to 1989 are as follows:
|
£million |
|
|
1980 |
25.0 |
|
1981 |
20.0 |
|
1982 |
24.0 |
|
1983 |
32.0 |
|
1984 |
35.0 |
|
1985 |
37.0 |
|
1986 |
35.0 |
|
1987 |
34.5 |
|
1988 |
82.0 |
|
1989 |
50.0 |
Income tax on farming profits is collected with Schedule D tax generally and the figures shown are, to some extent, estimated. The figures shown are estimates of the tax paid by full-time farmers together with tax paid by trader-farmers on their farming profits only. The yields in 1980 and 1983 were inflated by the effects of bringing forward the due dates for payment of the tax in those years. The yields in 1986 and 1987 were affected by reduced profit levels resulting from disadvantageous weather conditions in 1985 and 1986. The 1988 figure includes an estimated £38 million in respect of the effects of the tax amnesty on the collection of arrears.