Written answers

Tuesday, 20 November 2007

8:00 pm

Photo of Kieran O'DonnellKieran O'Donnell (Limerick East, Fine Gael)
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Question 181: To ask the Tánaiste and Minister for Finance the stamp duty tax revenues collected for the years 2002 to 2006 and the expected versus the budgeted for 2007, with the total figure for each year broken down under the various categories; and if he will make a statement on the matter. [30016/07]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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The breakdown in stamp duties collected in the years 2002 to 2006, and up to the end of September 2007, is as follows:

Category of Charge200220032004200520062007 (end Sept Provisional)
€m€m€m€m€m€m
1. Land & Property*6661,0751,4612,0022,9891,924
Of which Residential Property3495287529451311831
2. Stocks & Shares303256261324406472
3. Companies Capital Duty2821242060
4. Cards, Cheques, Bills of Exchange etc.48100112118121111
5. Insurance & Miscellaneous95110109106110105
6. Levy on certain Financial Institutions103103103
Total1,1391,6642,0702,6733,6322,612

Any apparent discrepancies in the totals in the above table are due to rounding of constituent figures. The 2007 figures are not yet finalised and are subject to change. The Budget 2007 forecast for Stamp Duty was for €3,925 million to be collected in 2007, a year-on-year growth rate of 5.6% above the 2006 out-turn. Stamp Duty was expected to represent 8% of total tax forecast for this year. Stamp Duty at the end of October was €472 million or 14.5% below profile. This mainly reflects the return to more normal market conditions in land and property transactions generally. In response to Question No. 209 of October 16 2007, I indicated that it is currently anticipated that the amount of revenue collected as Stamp Duties for 2007 will be short by about €600 million below the Budget day forecast.

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