Dáil Éireann Debate, Tuesday - 23 January 2018
168. Deputy Catherine Murphy asked the Minister for Finance the effective rate of corporation tax on oil and gas exploration and production in each of the past ten years; and if he will make a statement on the matter. [2870/18]
Amharc ar fhreagra169. Deputy Catherine Murphy asked the Minister for Finance the yield to the State in terms of profit resource rent tax from the gas fields in Kinsale, Ballycotton, Seven Heads and Corrib in each of the years since the inception of the tax, by gas field; and if he will make a statement on the matter. [2872/18]
Amharc ar fhreagra170. Deputy Catherine Murphy asked the Minister for Finance the yield to the State in terms of corporation tax from the gas fields in Kinsale, Ballycotton, Seven Heads and Corrib in each of the past 20 years, by gas field; and if he will make a statement on the matter. [2873/18]
Amharc ar fhreagraI propose to take Questions Nos. 168 to 170, inclusive, together.
The effective rate of Corporation Tax on companies involved in oil and gas exploration cannot be provided due to the low number of companies involved in the sector and Revenue‘s obligation to observe confidentiality for taxpayers and small groups of taxpayers. However, most such companies are likely to be recorded in the broader trade sector “Mining and Quarrying”. The effective Corporation Tax rate for companies in the Mining and Quarrying sector for the years 2006 to 2015 (the latest year available), is as shown in the following table. For technical reasons this information is not available for the year 2008.
|
Tax Year |
Effective Corporation Tax Rate on Taxable Income of All Mining and Quarrying Companies |
|
2006 |
16.4% |
|
2007 |
18.5% |
|
2008 |
Not Available |
|
2009 |
15.0% |
|
2010 |
13.2% |
|
2011 |
16.5% |
|
2012 |
14.4% |
|
2013 |
15.6% |
|
2014 |
16.7% |
|
2015 |
17.1% |
I am advised by Revenue that it is not possible to separately identify the Corporation Tax receipts deriving from the gas fields named in Questions 2872/18 and 2873/18. However, the Deputy may wish to note that sectoral tax receipts are available from 2011 on the Revenue website at
www.revenue.ie/en/corporate/documents/statistics/receipts/net-receipts-by-sector.pdf .
Tax receipts in respect of activities such as producing gas fields would most likely be recorded in the trade sector “Mining and Quarrying” in this table.
In respect of receipts of profit resource rent tax, no tax liability has been identified on Corporation Tax returns filed following the introduction of this tax. Profit resource rent tax applies in respect of profits from operating oil and gas fields in respect of licences/licensing option granted on or after 1 January 2007 to 17 June 2014. It is Revenue’s understanding that there have been no discoveries arising from licences granted during this timeframe.
