Ged Nash
Ceist:441. Deputy Ged Nash asked the Minister for Finance the estimated yield from a levy of 25% on the profits accruing from rental of residential property; and if he will make a statement on the matter. [41664/22]
Amharc ar fhreagraTuesday, 26 July 2022
Ceisteanna (441)
Freagraí scríofa
I am advised by Revenue that on the basis of the information included in the Form 11 income tax returns in relation to the tax year 2019, which is the latest year available, the potential yield from imposing a 25% levy, in addition to the marginal rate of tax which already applies, on the net profits accruing from the rental of residential property would be in the region of €511m.
I am further advised by Revenue that, on the basis of the information included in the Corporation Tax returns filed for the same tax year of 2019, the potential gross yield from imposing a 25% levy, in addition to the current tax rate of 25%, on the net profits accruing from rental of corporate residential property would be in the region of €53m.