Tony Gregory (Dublin Central, Independent)
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Question 192: To ask the Minister for Finance the amount received in capital gains tax each year for the past ten years; the estimate, based on those figures, of what the receipts would amount to for each year since the rate was reduced had that reduction not taken place. [27517/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The amount of Capital Gains Tax (CGT) received for each year over the past ten years is set out in the table below.

The rate was reduced from 40% to 20% in Budget 1998 and the amount of CGT raised by the Government rose from €245.2m (1998) to €452.2m (1999).

In addition to the CGT rate applicable to capital gains, a number of other factors impact upon the CGT yield in any particular year, including the prevailing property market and the general economic circumstances. Changes introduced to the CGT regime in successive Budgets, which have changed the CGT payment date and abolished indexation relief and roll-over relief, are also important. As a result, it is not possible to provide an estimate of the CGT yields on a basis as if the rate was not reduced in the 1998 Budget.

Tony Gregory (Dublin Central, Independent)
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Question 193: To ask the Minister for Finance the amount received in corporate taxation each year for the past ten years; and the estimate, based on those figures, of what the receipts would amount to for each year since the rate was reduced had that reduction not taken place. [27518/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The total Exchequer yield from corporation tax in each of the years requested by the Deputy is as follows:

Since 1998, the corporation tax rate in Ireland was steadily reduced from 38% to 121⁄2% as applicable from 1 January 2003; this rate continues to apply to trading profits across the board.

The rate of corporate taxation is only one factor in the mix of business location advantages that Ireland has to offer foreign investors. It would, therefore, not be possible to estimate reliably what the receipts would amount to for each of these years had our corporation tax rate not been reduced to 121⁄2%.