Dáil Éireann Debate, Wednesday - 20 January 2016
61. Deputy Michael McGrath asked the Minister for Finance the cost of exempting the first €100 of interest on deposits from Deposit Interest Retention Tax; and if he will make a statement on the matter. [2472/16]
Amharc ar fhreagraI am informed by the Revenue Commissioners that DIRT on interest bearing deposits is declared and paid on a four-times yearly basis by financial institutions. The total value of DIRT due and paid is reported to Revenue at institutional level. Detailed figures are not required in these returns to identify the numbers of accounts on which DIRT was paid or the amount of interest earned or DIRT payment per account.
Therefore, I am advised by the Revenue Commissioners that the data are not available on Revenue records to provide a basis for compiling estimates of the cost of exempting the first €100 of interest from DIRT.
