Tony Gregory
Ceist:63 Mr. Gregory asked the Minister for Finance the projected budget revenue from the PAYE sector in each of the years from 1994 to 1996; the actual revenue in each of these years; and the projected revenue in 1997. [12429/97]
Written Answers. - Tax Yield.
The following table sets out the information requested by the Deputy.
Income tax collected under PAYE.
|
Post-budget Estimate |
Net Receipts |
|
|
£m |
£m |
|
|
1994 |
3,202.0 |
3,259.1* |
|
1995 |
3,366.0 |
3,514.6 |
|
1996 |
3,719.0 |
3,894.4 |
|
1997 |
4,180.0 |
*The figures for post-budget estimate and net receipt of income tax under PAYE in 1994 exclude the yield under the 1993 tax amnesty.
The figure for PAYE covers more than tax on wages and salaries. For example, tax paid by directors of close companies is included, as is the tax on other income of employees such as rent and other investment income. After adjusting for these factors, tax on wages and salaries normally represents about 67 per cent of the take from income tax, excluding deposit interest retention tax. The figure for PAYE also includes the tax paid on the income from employment of farmers and other self-employed individuals.