Arthur Morgan (Louth, Sinn Fein)
Link to this: Individually | In context

Question 295: To ask the Minister for Finance the average percentage of profits paid as tax in 2004 by the top 20 performing companies on the Dublin Stock Exchange. [34452/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

I am informed by the Revenue Commissioners that the specific information requested by the Deputy is not readily available and could not be obtained without conducting a protracted examination of the records which they hold.

As the Deputy may be aware many of the twenty highest capitalised companies quoted on the Dublin Stock Exchange are holding companies with a multiplicity of trading or investment subsidiaries. These holding companies file consolidated accounts incorporating annual results which reflect worldwide profits and worldwide corporate taxes paid. The subsidiaries are individually liable to Irish corporation tax on their profits where they are resident in Ireland or carry on business there through a branch or permanent establishment. Some of the subsidiaries will, of course, be resident abroad or have branches abroad and will have paid corporate profits taxes in other countries.

Arthur Morgan (Louth, Sinn Fein)
Link to this: Individually | In context

Question 296: To ask the Minister for Finance the number of investigations which have been carried out by Revenue as the veracity of declarations by persons claiming to be non-resident for tax purpose regarding the number of days spent here in a given tax year; and the number of cases where it is been found that false declarations have been made. [34453/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

As the Deputy may be aware, I have asked the Chairman of the Revenue Commissioners to monitor the application of the current non-resident rules, through examination of cases handled in the Revenue Commissioners large cases division, and to provide me with a report once this examination is complete. The chairman has confirmed to me that this work is underway and that he will report to me as soon as possible.

In the meantime, I am informed by the Revenue Commissioners that enquiries relating to residence can feature in many audits and investigations, including those by large cases division who are at present examining claims to non-residence by people of Irish domicile both as part of their normal risk base audit programme and for the purpose of monitoring application of the non-residence rules. Inquiries in these cases are ongoing and I am informed that the results will feed into the report to me in due course.

Arthur Morgan (Louth, Sinn Fein)
Link to this: Individually | In context

Question 297: To ask the Minister for Finance the percentage at which the average industrial earning persons here begin to pay the top rate of income tax. [34463/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

It is estimated that, for a single person, roughly 4% of the average industrial wage will be subject to the higher rate of income tax in 2005 having regard to the current value of the standard rate band for such a person, €29,400.

In the case of a married one-earner or married two-earner couple on the same wage, none of the couple's income will be subject to the higher rate of tax. The current standard rate band for a married one-earner couple is €38,400. For a married two-earner couple, it is up to €58,800 of which €38,400 is transferable.