Tuesday, 24 September 2019

Ceisteanna (115)

David Cullinane

Ceist:

115. Deputy David Cullinane asked the Minister for Finance the estimated full-year saving from the scrapping of the tax exemption on profits or gains arising from the occupation of woodlands here managed on a commercial basis and with a view to the realisation of profits. [38717/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

Section 232 of the Taxes Consolidation Act 1997 provides for an exemption from Income Tax (but not USC or PRSI) and Corporation Tax on the profits or gains arising from the occupation of woodland in the State, which is managed on a commercial basis and with a view to the realisation of profits.

I am advised by Revenue that the available data regarding the cost and uptake for this exemption is as follows:

Year

Exchequer Cost €m

No of claimants

2017

29.4

9,160

2016

30.6

8,858

2015

31.5

9,077

2014

30

8,234

2013

26.5

8,013

2012

25.2

7,550

2011

24.3

6,679

https://www.revenue.ie/en/corporate/documents/statistics/tax-expenditures/property-reliefs.pdf

Revenue further advise me that it is not possible to estimate the potential additional tax yield that would arise if the exemption were no longer available, as it is not possible to predict the behavioural changes by taxpayers that might occur following abolition of the exemption.

Question No. 116 answered with Question No. 89.