Dáil Éireann Debate, Thursday - 6 May 2004
36 Mr. Coveney asked the Minister for Finance his estimate of the total value of tax revenue collected from the sites, construction, sale and purchase adaptation, rental, repair and bequest of housing, distinguishing the amount collected under different tax headings. [12888/04]
Amharc ar fhreagraI have been informed by the Revenue Commissioners that the information furnished on tax returns does not, generally, require the yield from a particular sector or sub-sector of trade to be identified. Except for value added tax, VAT, and stamp duty, the amount of tax collected from the various activities specified in the question cannot be readily identified from the overall taxation yield. Accordingly, the specific information requested by the Deputy is not readily available in the form he requires.
In the case of stamp duty, the total collected from residential property in 2003 was €528 million. However, data is not collected in a manner which would allow for a more detailed breakdown of this yield. Stamp duty is also chargeable on transfers of sites at the appropriate rates for non-residential property but it is not possible to determine what proportion of the total stamp duty yield on non-residential property relates to site transfers.
In the case of the sale of a new house or apartment to a purchaser, VAT applies at the reduced rate of 13.5 % both on its construction and on the site, where these are connected contracts and is included in the final price of the property to the purchaser. No VAT applies in respect of the purchase of a second-hand house. The relevant information available in respect of VAT is the estimated yield. With regard to 2003, the VAT yield from the sale of new housing is estimated at approximately €1,250 million and the VAT yield from the maintenance andrepair to all housing is estimated at approximately €320 million.
With regard to inheritance tax, it is not possible to separately identify the yield relating to bequests of house property from within the overall tax yield. The net receipts associated with all inheritance tax was €131 million in 2003.
