Dáil Éireann díospóireacht -
Tuesday, 11 Nov 2003

Vol. 574 No. 1

Written Answers. - Tax Yield.

Bernard J. Durkan

Ceist:

234 Mr. Durkan asked the Minister for Finance the extent to which returns in respect of income tax, corporation tax and other revenues now, compare with those in previous years; the way in which he expects the current trend to affect the economy in the short, medium and long-term; and if he will make a statement on the matter. [26098/03]

Minister for Finance (Mr. McCreevy):

The budget day forecast was for total tax receipts of €31,646 million in 2003. The end-September Exchequer returns indicated that a shortfall in tax revenue of up to €500 million may arise at year end. A lot of tax revenue has still to come in and my Department will continue to review the position regarding the expected shortfall in tax revenues in the period leading up to the budget. Exchequer tax receipts to the end of October 2003 compared to tax receipts in the same period in previous years as follows:

Exchequer Tax Receipts (€m) to end-October

Tax Head	2000	2001	2002	2003
Income Tax	7,318	7,449	6,757	6,863
Corporation Tax	3,445	3,663	3,928	3,812
Customs	177	141	115	115
Excise	3,450	3,231	3,507	3,550
Capital Gains Tax	224	307	258	302
Other Capital Taxes	191	145	122	135
Stamps	941	1,045	958	1,424
VAT	6,110	6,499	7,280	7,906
Other	157	98	174	125
Total*	22,013	22,576	23,101	24,231

*Totals may not add due to rounding.

In regard to the medium-term prospects, my Department will be publishing economic and budgetary projections for the period 2004 to 2006 on budget day, which is 3 December.