Vol. 468 No. 1
70 Mr. B. Ahern asked the Minister for Finance the amount and proportion of the total corporation tax yield in each of the years from 1986 to 1995 derived from companies subject to the 10 per cent rate broken down into manufacturing and international financial services. [14727/96]
I am informed by the Revenue Commissioners that the relevant information available relates to the corporation tax liability of companies with annual accounting periods falling between 1 April 1990 and 31 March 1994 and whose liability to tax was computed partly or wholly at the reduced rate of 10 per cent. The information, in so far as it is available, is as set out in the following table.
Companies which qualify for the reduced rate of 10 per cent on a portion of their taxable profits are included in the table in respect of their total tax liability, i.e. tax paid at both the 10 per cent rate and the 40 per cent rate. It is not possible to isolate the tax attributable solely to the 10 per cent rate in such cases because certain reliefs relating to income liable for tax at both the standard and reduced rates are set off against the overall tax liability after the relief at 10 per cent has been computed.
|
Year ending 31 March |
10 per cent Companies |
|
|
1991 |
Estimated liability £ million |
284 |
|
Per Cent of Total Corporation Tax |
51 |
|
|
1992 |
Estimated liability £ million |
436 |
|
1992 |
Per Cent of Total Corporation Tax |
58 |
|
1993 |
Estimated liability £ million |
554 |
|
1993 |
Per Cent of Total Corporation Tax |
64 |
|
1994 |
Estimated liability £ million |
657 |
|
Per Cent of Total Corporation Tax |
60 |
