Dáil Éireann Debate, Wednesday - 10 October 2018
53. Deputy Joan Burton asked the Minister for Finance if he will provide an analysis of the known losses carried forward for corporation tax purposes at 31 December 2015, 2016 and 2017, respectively, under each heading (details supplied) by general NACE classifications; and if he will make a statement on the matter. [41279/18]
Amharc ar fhreagra54. Deputy Joan Burton asked the Minister for Finance if he will provide an analysis of the known losses carried forward for income tax purposes at 31 December 2015, 2016 and 2017, respectively, under headings (details supplied) by general NACE classifications; and if he will make a statement on the matter. [41280/18]
Amharc ar fhreagra55. Deputy Joan Burton asked the Minister for Finance if he will provide an analysis of known losses carried forward for corporation tax purposes at 31 December 2015, 2016 and 2017 under headings (details supplied) by general NACE classifications, which are more than five and ten years old; and if he will make a statement on the matter. [41281/18]
Amharc ar fhreagraI propose to take Questions Nos. 53 to 55, inclusive, together.
A sectoral breakdown of Corporation Tax trading losses forward for the tax years 2015 and 2016, which are the latest years available, is contained in Revenue’s Corporation Tax Publication (Table 19) at link: https://www.revenue.ie/en/corporate/documents/research/ct-analysis-2018.pdf. The publication also provides information on capital allowances (Table 20) and the R&D credit (Table 21).
The available information in respect of Corporation Tax rental losses carried forward by sector for the tax years 2015 and 2016 is set out in the following table.
|
Corporation Tax |
Rental Losses Carried Forward (€m) |
|
|
2015 |
2016 |
|
|
Financial and Insurance |
147.60 |
251.96 |
|
Administration and Support Services |
13.26 |
13.54 |
|
Information and Communications |
14.87 |
21.29 |
|
Construction |
218.15 |
226.55 |
|
Manufacturing |
23.99 |
23.48 |
|
Transport and Storage |
11.12 |
14.27 |
|
Wholesale and Retail Trade |
37.18 |
45.31 |
|
All Other Sectors |
427.06 |
417.91 |
|
Total |
893.23 |
1,014.31 |
The available information in respect of a sectoral breakdown of losses forward from self-assessed Income Tax returns for the tax years 2015 and 2016, which are the latest years available, is set out in the following table.
|
Income Tax |
Rental Losses Carried Forward (€m) |
Trade Losses Carried Forward (€m) |
||
|
2015 |
2016 |
2015 |
2016 |
|
|
Financial and Insurance |
29.8 |
31.2 |
17 |
21 |
|
Administration and Support Services |
7.5 |
7.0 |
8.2 |
8.0 |
|
Information and Communications |
8.6 |
7.3 |
1.6 |
1.8 |
|
Construction |
190 |
174 |
589 |
627 |
|
Manufacturing |
6.7 |
6.1 |
6.3 |
5.9 |
|
Transport and Storage |
21.9 |
21.6 |
13 |
20 |
|
Wholesale and Retail Trade |
73 |
67 |
56 |
53 |
|
All Other Sectors |
1,458 |
1,339 |
1,382 |
1,266 |
|
Total |
1,795 |
1,653 |
2,074 |
2,001 |
Revenue has advised me that it is not possible to provide a breakdown of trading losses forward by type of underlying loss or a breakdown by age of losses forward as this information is not separately identified on tax returns.
Information for 2017 will be published in 2019 when Corporation and Income Tax returns for the year have been filed and analysed.
