Dáil Éireann Debate, Tuesday - 24 July 2018
378. Deputy Richard Boyd Barrett asked the Minister for Finance the amount that could be raised from imposing a 2% public health levy on the profits of private human health and pharmaceutical companies here including nursing homes and home care agencies. [35041/18]
Amharc ar fhreagraI am advised by Revenue that, on the basis of information included in the Corporation Tax returns filed for the tax year 2016, the potential yield from imposing a 2% levy on the profits of private human health and pharmaceutical companies, including nursing homes and home care agencies, is estimated to be in the region of €230 million, with over 99% coming from the pharmaceutical companies.
This yield is based on the industry code assigned to companies on Revenue records and does not include any yield associated with subsidiaries of these companies that are not primarily involved in the sectors mentioned in the question. It has been assumed that the levy would apply to the taxable profits of pharmaceutical companies, nursing homes and home care agencies but would not apply to medical practices or private hospitals. Additionally, the potential yield assumes no significant behavioural change on the part of these companies that could cause the expected yield to fall below expectations.
