Dáil Éireann Debate, Tuesday - 15 July 2014
215. Deputy Pearse Doherty asked the Minister for Finance to set out the partial and full year revenue that would be raised for the Exchequer by increasing the once-off charge for establishing a discretionary trust by 1% and the annual charge for a trust from 1% to 1.5%. [31234/14]
Amharc ar fhreagraI am informed by the Revenue Commissioners that a precise breakdown of the yield from Discretionary Trust Tax between the once-off charge and the annual charge is not available. However, I am advised by the Commissioners that it is understood that the bulk of the yield is derived from the annual charge. On that basis, the estimated full year yield to the Exchequer from the suggested increase in the annual charge rate of 1% to 1.5% could be in the region of €0.8 million.
The estimated full year yield to the Exchequer from the suggested increase of 1% in the once-off charge is likely to be negligible.
A partial year yield estimate is not available as it would depend on the date of introduction of the proposal.
