Written answers
Thursday, 25 September 2008
Department of Finance
Tax Yield
5:00 pm
Arthur Morgan (Louth, Sinn Fein)
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Question 85: To ask the Minister for Finance the annual revenue that would be raised from a 5% increase in deposit interest retention tax. [31583/08]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Deputy's question is concerned with an increase of 5% in the tax rates that currently apply to deposit interest. I am informed by the Revenue Commissioners that, on the basis of an estimated yield of €525 million from DIRT in 2008, the additional yield would be of the order of €130 million, assuming no behavioural change on the part of depositors.
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