Bernard J. Durkan
Ceist:132 Mr. Durkan asked the Minister for Finance if he proposes changes in deposit interest retention tax in the event of a substantial fall in rates; and if he will make a statement on the matter. [19628/98]
Vol. 495 No. 2
132 Mr. Durkan asked the Minister for Finance if he proposes changes in deposit interest retention tax in the event of a substantial fall in rates; and if he will make a statement on the matter. [19628/98]
I have no plans to cut the rate of DIRT on interest income in the event of a fall in interest rates. From an equity point of view interest income should be taxable in a similar manner to other income. Naturally any further cuts in the standard rate of income tax will be reflected in a cut in the standard rate of DIRT.