Dáil Éireann díospóireacht -
Tuesday, 28 Feb 1995

Vol. 449 No. 7

Written Answers. - Revenue from Commercial Banks.

Thomas P. Broughan

Ceist:

81 Mr. Broughan asked the Minister for Finance the amount of revenue the Exchequer has received from the commercial banks from the introduction of the bank levy in 1989 to 1994; and if he will make a statement on the matter. [4269/95]

Minister for Finance (Mr. Quinn)

The relevant available data are the bank levy and the estimated amounts of Irish corporation tax paid by the commercial banks. The following table sets out the information requested in so far as it is available:

Calendar Year	Estimated corporation tax and bank levy paid by banks
	£m
1989	66.4
1990	63.4
1991	73.7
1992	75.5
1993	87.1
1994	138.2

These figures do not include receipts from the "section 84" levy in respect of which the banks act as collection agents only.

The bank levy was increased in 1988 from £25 million to £36 million and remained at that level from that time up to and including 1994.

It should be remembered that the banks pay significant amounts of overseas tax as well as Irish corporation tax.