Thursday, 8 November 2012

Ceisteanna (120)

Seán Fleming


120. Deputy Sean Fleming asked the Minister for Finance the revenue that would be raised from increasing the rate of deposit interest retention tax from 30% to 33% and 35% respectively; and if he will make a statement on the matter. [49286/12]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am advised by the Revenue Commissioners that the estimated yield to the Exchequer from increasing the Deposit Interest Retention Tax (DIRT) rate from 30% to 33% would be of the order of €60 million; and the yield from increasing the rate from 30% to 35% would be €100 million in a full year. This projection assumes no significant behavioural change by depositors or a change in interest rates applied by financial institutions to savings.